TRAX
First Tracks Biotherapeutics
NASDAQ: TRAX · HEALTHCARE · BIOTECHNOLOGY
$18.43
-10.78% today
Updated 2026-06-02
Market cap
$615.50M
P/E ratio
—
P/S ratio
—
EPS (TTM)
$-4.71
Dividend yield
—
52W range
$11 – $27
Volume
0.5M
First Tracks Biotherapeutics (TRAX) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | — |
| Revenue growth (YoY) | — | — | — |
| Cost of revenue | — | $152.34M | $139.61M |
| Gross profit | — | $-152.34M | $-139.61M |
| Gross margin | — | — | — |
| R&D | $97.59M | $152.34M | $139.61M |
| SG&A | $20.87M | $28.76M | $39.39M |
| Operating income | $-118.46M | $-181.10M | $-179.01M |
| Operating margin | — | — | — |
| EBITDA | $-116.08M | $-178.70M | $-178.45M |
| EBITDA margin | — | — | — |
| EBIT | $-118.46M | $-181.10M | $-179.01M |
| Interest expense | — | — | — |
| Income tax | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% |
| Net income | $-106.15M | $-163.71M | $-166.09M |
| Net income growth (YoY) | — | -54.2% | -1.5% |
| Profit margin | — | — | — |
Frequently asked questions
How much free cash flow does TRAX generate?
TRAX produced $-143.01M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is TRAX's balance sheet healthy?
TRAX holds $238.20M in cash and equivalents against — in long-term debt, on $287.49M of shareholder equity. That debt is best read against the cash flow the business throws off each year.