Recent News
On June 25, 2026 the company appointed Anne Prener, M.D., Ph.D., to its board of directors. In late July the company triggered a $20 million development milestone payment from a partner, reported on July 30, 2026. The company announced its chief financial officer resigned effective in early August 2026 and an interim finance lead was named.
Technical Analysis
ADX: ADX at 26.63 indicates a strong trend strength; that strength increases the likelihood that current directional signals will influence price action over the coming weeks, amplifying bias from other momentum measures.
DI+ / DI-: DI+ at 24.21 with a dip & reversal signals a bullish directional swing; DI- at 13.22 with a dip & reversal signals concurrent bearish pressure. Those opposing dip-and-reversal readings produce a mixed directional picture that often compresses price into a tight range before a decisive move.
MACD: MACD at 0.13 with a peak & reversal signals bearish momentum; MACD sits at parity with its signal line, so no confirmed bullish MACD cross exists to negate that momentum signal.
MRO: MRO at 2.71 (positive) indicates the market price sits above the model target and faces downward pressure; that valuation-derived pressure aligns with WMDST’s over-valued rating and suggests mean reversion risk.
RSI: RSI at 50.69 with a peak & reversal describes waning upward momentum from neutral levels, supporting a view of limited upside conviction until momentum indicators rotate back into a bullish posture.
Price Versus Moving Averages and Bands: Last close at $11.08 trades below the 200-day average of $13.53 while sitting essentially level with short-term averages (20-day avg $11.17, 50-day avg $10.83). Bollinger band breadth remains narrow (upper ~ $11.39–$11.61; lower ~ $10.73–$10.95), consistent with compressed near-term range and a higher probability of a directional breakout once momentum resolves.
Fundamental Analysis
Earnings And Per-Share Metrics: Reported EPS of -$1.45 missed the estimate of -$1.24 by -$0.21, an EPS surprise of -16.94%. Forward EPS stands at -$1.654 with a forward P/E of -7.15; current P/E reads -7.60, reflecting negative earnings and the limitations of P/E interpretation for this clinical-stage company.
Liquidity, Cash Flow, And Capital Structure: Cash and short-term investments total $257,606,000 while operating cash flow for the period measured -$27,985,000 and free cash flow measured -$20,576,000. Current assets exceed current liabilities sharply (current ratio 21.96; cash ratio 21.20), and total debt remains modest at $15,724,000 (debt-to-assets 5.47%, debt-to-equity 5.99%). Those metrics indicate significant liquidity on the balance sheet relative to near-term obligations, even as operating cash burn continues.
Profitability And Growth Metrics: EBIT stood at -$30,937,000 and EBITDA at -$30,535,000. Return on assets at -9.57% and return on equity at -10.95% indicate negative profitability while earnings growth registers +19.84% overall yet shows -51.26% quarter-over-quarter and -116.39% year-over-year in the provided change metrics; revenue growth YoY shows -94.89%, reflecting material top-line contraction versus the prior comparable period.
Valuation Ratios Versus Peers: Book-to-price and market multiples show contrasts to peers: price-to-book at 0.83 sits well below the industry peer mean of 8.20 and median of 6.33, and within the industry peer range provided. Price targets among analysts span a low of $6.32, a mean of $10.87, and a high of $19.33; the firm’s market cap stands at $218,394,097 while enterprise value registers negative $23,487,903, reflecting a net-cash posture on a market-cap basis. The current valuation as determined by WMDST: over-valued.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-03 |
| NEXT REPORT DATE: | 2026-11-02 |
| CASH FLOW | Begin Period Cash Flow | $ 282.9 M |
| Operating Cash Flow | $ -27.98 M | |
| Capital Expenditures | $ -155.00 K | |
| Change In Working Capital | $ 1.9 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -23.89 M | |
| End Period Cash Flow | $ 259.1 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | — | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 402.0 K | |
| Depreciation and Amortization | $ 402.0 K | |
| Research and Development | $ 22.3 M | |
| Total Operating Expenses | $ 30.9 M | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | $ -30.54 M | |
| EBIT | $ -30.94 M | |
| Operating Income | $ -30.94 M | |
| Interest Income | — | |
| Interest Expense | — | |
| Net Interest Income | — | |
| Income Before Tax | $ -28.71 M | |
| Tax Provision | — | |
| Tax Rate | — | |
| Net Income | $ -28.71 M | |
| Net Income From Continuing Operations | $ -28.71 M | |
| EARNINGS | ||
| EPS Estimate | $ -1.24 | |
| EPS Actual | $ -1.45 | |
| EPS Difference | $ -0.21 | |
| EPS Surprise | -16.935 % | |
| Forward EPS | $ -1.65 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 287.6 M | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 262.3 M | |
| Total Current Assets | $ 266.9 M | |
| Cash and Short-Term Investments | $ 257.6 M | |
| Cash | $ 257.6 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | $ 1.4 M | |
| LIABILITIES | ||
| Accounts Payable | $ 1.8 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 12.2 M | |
| Net Debt | — | |
| Total Debt | $ 15.7 M | |
| Total Liabilities | $ 25.3 M | |
| EQUITY | ||
| Total Equity | $ 262.3 M | |
| Retained Earnings | $ -534.18 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 13.23 | |
| Shares Outstanding | 19.827 M | |
| Revenue Per-Share | — | |
| VALUATION | Market Capitalization | $ 218.4 M |
| Enterprise Value | $ -23.49 M | |
| Enterprise Multiple | 0.769 | |
| Enterprise Multiple QoQ | 40.16 % | |
| Enterprise Multiple YoY | -65.49 % | |
| Enterprise Multiple IPRWA | high: 90.978 median: 22.007 mean: 11.544 KROS: 0.769 low: -129.549 |
|
| EV/R | — | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.096 | |
| Asset To Liability | 11.377 | |
| Debt To Capital | 0.057 | |
| Debt To Assets | 0.055 | |
| Debt To Assets QoQ | 4.672 % | |
| Debt To Assets YoY | 130.578 % | |
| Debt To Assets IPRWA | high: 1.088 mean: 0.143 KROS: 0.055 median: 0.018 low: 0.0 |
|
| Debt To Equity | 0.06 | |
| Debt To Equity QoQ | 4.955 % | |
| Debt To Equity YoY | 135.984 % | |
| Debt To Equity IPRWA | high: 1.719 mean: 0.136 KROS: 0.06 median: 0.037 low: -1.043 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.833 | |
| Price To Book QoQ | -5.336 % | |
| Price To Book YoY | 0.694 % | |
| Price To Book IPRWA | high: 19.854 mean: 8.197 median: 6.334 KROS: 0.833 low: -9.25 |
|
| Price To Earnings (P/E) | -7.596 | |
| Price To Earnings QoQ | -27.797 % | |
| Price To Earnings YoY | -59.273 % | |
| Price To Earnings IPRWA | high: 76.582 mean: -2.654 KROS: -7.596 median: -19.402 low: -132.822 |
|
| PE/G Ratio | -0.383 | |
| Price To Sales (P/S) | — | |
| Price To Sales QoQ | — | |
| Price To Sales YoY | — | |
| Price To Sales IPRWA | — | |
| FORWARD MULTIPLES | ||
| Forward P/E | -7.153 | |
| Forward PE/G | -0.361 | |
| Forward P/S | — | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | — | |
| Asset Turnover Ratio QoQ | — | |
| Asset Turnover Ratio YoY | — | |
| Asset Turnover Ratio IPRWA | — | |
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 564.313 median: 244.94 mean: 168.335 KROS: 0 low: -329.732 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | -0.386 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 262.3 M | |
| Net Invested Capital | $ 262.3 M | |
| Invested Capital | $ 262.3 M | |
| Net Tangible Assets | $ 262.3 M | |
| Net Working Capital | $ 254.7 M | |
| LIQUIDITY | ||
| Cash Ratio | 21.197 | |
| Current Ratio | 21.96 | |
| Current Ratio QoQ | -2.897 % | |
| Current Ratio YoY | 4.007 % | |
| Current Ratio IPRWA | high: 31.351 KROS: 21.96 mean: 3.002 median: 1.265 low: 0.026 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -0.515 | |
| Cost Of Debt | 0.059 % | |
| Interest Coverage Ratio | -3093.7 | |
| Interest Coverage Ratio QoQ | 19.554 % | |
| Interest Coverage Ratio YoY | -22.302 % | |
| Interest Coverage Ratio IPRWA | high: 672.667 mean: -15.961 median: -59.087 low: -1866.8 KROS: -3093.7 |
|
| Operating Cash Flow Ratio | -2.303 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -7.907 % | |
| Revenue Growth | -4.675 % | |
| Revenue Growth QoQ | -0.0 % | |
| Revenue Growth YoY | -94.885 % | |
| Revenue Growth IPRWA | high: 330.841 % mean: 15.686 % median: 13.924 % KROS: -4.675 % low: -242.388 % |
|
| Earnings Growth | 19.835 % | |
| Earnings Growth QoQ | -51.263 % | |
| Earnings Growth YoY | -116.393 % | |
| Earnings Growth IPRWA | high: 168.75 % KROS: 19.835 % median: 10.345 % mean: 10.026 % low: -155.294 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -20.58 M | |
| Free Cash Flow Yield | -9.422 % | |
| Free Cash Flow Yield QoQ | 557.043 % | |
| Free Cash Flow Yield YoY | 81.437 % | |
| Free Cash Flow Yield IPRWA | high: 29.465 % median: 0.852 % mean: 0.264 % KROS: -9.422 % low: -48.052 % |
|
| Free Cash Growth | 471.238 % | |
| Free Cash Growth QoQ | -642.488 % | |
| Free Cash Growth YoY | -496.355 % | |
| Free Cash Growth IPRWA | KROS: 471.238 % high: 185.644 % median: 24.96 % mean: 20.847 % low: -209.632 % |
|
| Free Cash To Net Income | 0.717 | |
| Cash Flow Margin | — | |
| Cash Flow To Earnings | 0.975 | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | -9.572 % | |
| Return On Assets QoQ | 31.285 % | |
| Return On Assets YoY | 140.382 % | |
| Return On Assets IPRWA | high: 34.781 % mean: -8.875 % KROS: -9.572 % median: -13.258 % low: -66.894 % |
|
| Return On Capital Employed (ROCE) | -11.232 % | |
| Return On Equity (ROE) | -0.109 | |
| Return On Equity QoQ | 31.867 % | |
| Return On Equity YoY | 152.015 % | |
| Return On Equity IPRWA | high: 0.746 KROS: -0.109 mean: -0.177 median: -0.259 low: -1.177 |
|
| DuPont ROE | — | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |