Loading…
Develops antibody therapies for Alzheimer's and neurodegenerative disease using a blood-brain-barrier shuttle platform.
Develops antibody therapies for Alzheimer's and neurodegenerative disease using a blood-brain-barrier shuttle platform.
Has no product or revenue, so it relies on the cash it holds and later share sales, and everything depends on whether its lead antibody can reach the brain better than existing treatments. It reached the stock market in 2026 by merging with Cyclerion, an already listed company.
Moat: narrow (IP / patents, process know-how). THETA platform aims for better brain penetration than approved amyloid antibodies, but is unproven in the clinic.
Headquarters: Boston, Massachusetts, US · Founded: 2024 · Employees: 1
Size Korsana Biosciences (KRSA) is a United States Health Care company (Biotechnology) with a market value of $1.41B, the 2033rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $31.05 on 6 Nov 2026.
Performance Over six months the shares gained 43.1%, against -19.4% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 18 in its peer set.
Growth Revenue fell 12.6% over the last twelve months (peer median +22.5%); the operating margin is -359.2% (peer median -26.7%).
Valuation It trades at 743.5× enterprise value to sales against a peer median of 10.3× (2nd most expensive of 16).
Capital Return on invested capital runs 160.0 points below its cost of capital (14.1% WACC).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.90M | $2.07M | $2.00M | $0 | $297,000 |
| Revenue growth | — | +4% | — | -100% | — |
| Gross profit | n/a | n/a | n/a | $0 | $232,000 |
| EBITDA | -$6.82M | -$4.97M | -$3.63M | -$9.65M | -$18.5M |
| Net income | -$6.71M | -$3.53M | -$3.06M | -$21.0M | -$44.1M |
| Free cash flow | -$4.52M | -$3.31M | -$4.33M | -$21.2M | -$40.6M |
| Capital expenditure | $66,000 | $0 | $0 | $0 | $0 |
| Total debt | $0 | $0 | $0 | $0 | $0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Korsana Biosciences KRSA | $1.41B | +43% | -13% | -359% | 743.5× | n/a |
| Lilly (Eli) LLY | $1.27T | +43% | +46% | 51% | 15.2× | 5.9% |
| Biogen BIIB | $36.7B | +28% | +2% | 17% | 4.4× | 9.4% |
| Roche RO.SW | $385B | +22% | -1% | 31% | 5.6× | 0.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | KRSA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.3% | -2.0% | 8th lowest of 21 |
| 6-month return | +43.1% | -19.4% | 3rd highest of 18 |
| Distance from 52-week high | -47.7% | -40.7% | 8th lowest of 21 |
| Revenue growth (TTM) | -12.6% | +22.5% | 3rd lowest of 17 |
| Operating margin | -359.2% | -26.7% | 6th lowest of 17 |
| EV / Sales | 743.5× | 10.3× | 2nd most expensive of 16 |
| ROIC minus cost of capital | -160.0 pp | -8.7 pp | lowest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Korsana Biosciences KRSA | United States | $1.41B | +43% | -13% | -359% | 743.5× | n/a | n/a |
| Taysha Gene Therapies TSHA | United States | $1.41B | -36% | -32% | -2,855% | 184.6× | n/a | n/a |
| Hualan Biological Vaccine 301207.SZ | China | $1.39B | -21% | -28% | -7% | 10.3× | 36.5% | -13.1% |
| AnaptysBio ANAB | United States | $1.39B | -33% | +93% | 56% | 6.3× | -1.2% | +25.6% |
| Oncolys BioPharma 4588.T | Japan | $1.39B | +162% | +1,662% | -303% | 429.8× | n/a | n/a |
| Pacific Shuanglin Bio-pharmacy 000403.SZ | China | $1.38B | -19% | +1% | 10% | 3.8× | n/a | n/a |
| Kardigan KARD | United States | $1.45B | n/a | n/a | n/a | n/a | n/a | n/a |
| Tyra Bioscience TYRA | United States | $1.45B | -38% | n/a | n/a | n/a | n/a | n/a |
| Nuvation Bio NUVB | United States | $1.46B | -13% | +1,084% | -81% | 7.2× | n/a | n/a |
| Mineralys Therapeutics MLYS | United States | $1.36B | -48% | n/a | n/a | n/a | n/a | n/a |
| PELL Bio-Med Technology 6949.TW | Taiwan | $1.49B | +126% | +5% | -1,720% | 1,640.0× | n/a | n/a |
| uniQure QURE | United States | $1.51B | -22% | +30% | -1,093% | 66.8× | n/a | n/a |
| Hugel 145020.KS | South Korea | $1.52B | -26% | +17% | 38% | 4.4× | -7.9% | +15.0% |
| Fujian Haixi Pharmaceuticals 2637.HK | Hong Kong | $1.53B | -41% | +25% | 33% | n/a | n/a | n/a |
| ANI Pharmaceuticals ANIP | United States | $1.55B | -18% | +31% | 13% | 1.8× | -4.1% | +33.5% |
| Liaoning Chengda Biotechnology 688739.SS | China | $1.28B | -10% | -9% | 0% | 2.5× | 8.8% | -7.0% |
| TLC BioSciences 7924.TWO | Taiwan | $1.57B | n/a | n/a | n/a | n/a | n/a | n/a |
| Zhuhai Trinomab Pharmaceutical 688806.SS | China | $1.58B | n/a | +238% | -1,196% | 199.0× | n/a | n/a |
| Intellia Therapeutics NTLA | United States | $1.59B | -19% | +13% | -712% | 20.6× | n/a | n/a |
| Immunocore Holdings Plc Shs Sponsored American Depositary Shares Repr 1 Sh IMCR | United States | $1.60B | +5% | +20% | -5% | 2.7× | n/a | n/a |
| Precigen PGEN | United States | $1.60B | +6% | +1,875% | -46% | 19.4× | n/a | n/a |