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Apogee Therapeutics (APGE) Financials

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$83.49 +2.33 (+2.87%)
As of 11:51 AM Eastern
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Annual Income Statements for Apogee Therapeutics

Annual Income Statements for Apogee Therapeutics

This table shows Apogee Therapeutics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -84 -182 -256
Consolidated Net Income / (Loss)		 -84 -182 -256
Net Income / (Loss) Continuing Operations		 -84 -182 -256
Total Pre-Tax Income 		-84 -182 -256
Total Operating Income		 -93 -217 -286
Total Gross Profit		 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00
Total Operating Expenses		 93 217 286
Selling, General & Admin Expense		 25 49 71
Research & Development Expense		 68 168 215
Total Other Income / (Expense), net		 9.02 35 30
Interest & Investment Income		 9.02 35 30
Income Tax Expense		 0.00 0.02 0.28
Basic Earnings per Share		 ($3.36) ($3.30) ($4.22)
Weighted Average Basic Shares Outstanding		 25.01M 55.19M 60.69M
Diluted Earnings per Share		 ($3.36) ($3.30) ($4.22)
Weighted Average Diluted Shares Outstanding		 25.01M 55.19M 60.69M
Weighted Average Basic & Diluted Shares Outstanding		 50.66M 59.50M 69.49M

Quarterly Income Statements for Apogee Therapeutics

This table shows Apogee Therapeutics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -21 -32 -32 -34 -49 -67 -55 -66 -65 -69 -74
Consolidated Net Income / (Loss)		 -21 -32 -32 -34 -49 -67 -55 -66 -65 -69 -74
Net Income / (Loss) Continuing Operations		 -21 -32 -32 -34 -49 -67 -55 -66 -65 -69 -74
Total Pre-Tax Income 		-21 -32 -32 -34 -49 -67 -55 -66 -65 -69 -74
Total Operating Income		 -24 -37 -38 -44 -59 -76 -63 -73 -71 -78 -83
Total Gross Profit		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 24 37 38 44 59 76 63 73 71 78 83
Selling, General & Admin Expense		 7.24 8.20 9.47 11 13 16 17 17 17 20 22
Research & Development Expense		 17 29 29 33 46 60 46 56 54 58 61
Total Other Income / (Expense), net		 3.47 5.42 6.09 10 9.67 8.68 7.84 7.14 6.32 8.73 8.74
Interest & Investment Income		 3.47 5.42 6.09 10 9.67 8.68 7.84 7.14 6.32 8.73 8.74
Income Tax Expense		 - - 0.00 0.00 0.00 - 0.08 0.07 0.06 0.06 0.08
Basic Earnings per Share		 ($0.51) $3.44 ($0.64) ($0.60) ($0.86) ($1.20) ($0.95) ($1.13) ($1.11) ($1.03) ($1.06)
Weighted Average Basic Shares Outstanding		 41.23M 25.01M 50.19M 56.52M 56.80M 55.19M 58.20M 58.43M 58.77M 60.69M 69.67M
Diluted Earnings per Share		 ($0.51) $3.44 ($0.64) ($0.60) ($0.86) ($1.20) ($0.95) ($1.13) ($1.11) ($1.03) ($1.06)
Weighted Average Diluted Shares Outstanding		 41.23M 25.01M 50.19M 56.52M 56.80M 55.19M 58.20M 58.43M 58.77M 60.69M 69.67M
Weighted Average Basic & Diluted Shares Outstanding		 50.67M 50.66M 58.46M 58.49M 48.51M 59.50M 59.53M 59.60M 81.81M 69.49M 75.39M

Annual Cash Flow Statements for Apogee Therapeutics

This table details how cash moves in and out of Apogee Therapeutics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -33 23 -11
Net Cash From Operating Activities		 -75 -171 -227
Net Cash From Continuing Operating Activities		 -75 -171 -227
Net Income / (Loss) Continuing Operations		 -84 -182 -256
Consolidated Net Income / (Loss)		 -84 -182 -256
Depreciation Expense		 0.00 0.19 1.42
Amortization Expense		 -3.07 -12 -7.50
Non-Cash Adjustments To Reconcile Net Income		 6.19 25 50
Changes in Operating Assets and Liabilities, net		 6.11 -2.00 -15
Net Cash From Investing Activities		 -274 -300 -180
Net Cash From Continuing Investing Activities		 -274 -300 -180
Purchase of Property, Plant & Equipment		 -0.17 -1.15 -5.15
Purchase of Investments		 -304 -649 -642
Sale and/or Maturity of Investments		 30 350 468
Net Cash From Financing Activities		 315 495 396
Net Cash From Continuing Financing Activities		 315 495 396
Issuance of Common Equity		 315 493 390
Other Financing Activities, net		 0.00 1.63 6.86

Quarterly Cash Flow Statements for Apogee Therapeutics

This table details how cash moves in and out of Apogee Therapeutics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 63 -70 367 -178 -189 23 -35 17 -17 24 320
Net Cash From Operating Activities		 -20 -30 -32 -29 -43 -68 -48 -62 -54 -63 -56
Net Cash From Continuing Operating Activities		 -20 -30 -32 -29 -43 -68 -48 -62 -54 -63 -56
Net Income / (Loss) Continuing Operations		 -21 -32 -32 -34 -49 -67 -55 -66 -65 -69 -74
Consolidated Net Income / (Loss)		 -21 -32 -32 -34 -49 -67 -55 -66 -65 -69 -74
Depreciation Expense		 - - 0.03 0.04 0.05 0.08 0.21 0.40 0.41 0.41 0.41
Amortization Expense		 -0.23 -2.84 -2.71 -3.04 -3.51 -2.99 -2.38 -1.76 -1.62 -1.74 -1.55
Non-Cash Adjustments To Reconcile Net Income		 1.51 2.30 4.45 5.98 6.23 8.37 12 12 13 13 18
Changes in Operating Assets and Liabilities, net		 -0.31 2.52 -1.31 1.54 3.73 -5.96 -2.95 -6.84 -0.84 -4.86 1.55
Net Cash From Investing Activities		 -234 -40 -52 -149 -146 46 13 78 18 -289 -35
Net Cash From Continuing Investing Activities		 -234 -40 -52 -149 -146 46 13 78 18 -289 -35
Purchase of Property, Plant & Equipment		 - -0.17 -0.35 -0.05 -0.75 0.00 -4.32 -0.77 - -0.06 0.00
Purchase of Investments		 -234 -70 -126 -227 -236 -61 -98 -47 -108 -389 -183
Sale and/or Maturity of Investments		 - 30 75 78 90 107 116 126 126 101 148
Net Cash From Financing Activities		 317 -0.21 451 -0.15 0.38 44 0.62 1.18 20 375 411
Net Cash From Continuing Financing Activities		 317 -0.21 451 -0.15 0.38 44 0.62 1.18 20 375 411
Issuance of Common Equity		 316 -0.21 450 -0.54 - 44 0.00 - 19 370 407
Other Financing Activities, net		 - - 0.02 0.39 0.38 0.83 0.62 1.18 0.36 4.70 4.06

Annual Balance Sheets for Apogee Therapeutics

This table presents Apogee Therapeutics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 152 401 754 937
Total Current Assets		 152 398 530 741
Cash & Equivalents		 152 118 142 132
Short-Term Investments		 0.00 277 379 599
Prepaid Expenses		 0.17 2.95 9.06 11
Plant, Property, & Equipment, net		 0.00 0.38 1.96 5.69
Total Noncurrent Assets		 0.00 2.62 222 190
Long-Term Investments		 - 0.00 210 173
Other Noncurrent Operating Assets		 0.00 2.62 12 17
Total Liabilities & Shareholders' Equity		 152 401 754 937
Total Liabilities		 9.98 21 37 33
Total Current Liabilities		 9.98 21 29 28
Accounts Payable		 0.42 2.14 1.07 1.22
Accrued Expenses		 9.56 17 24 23
Other Current Liabilities		 0.00 1.10 3.23 3.50
Total Noncurrent Liabilities		 0.00 0.93 8.60 5.35
Other Noncurrent Operating Liabilities		 0.00 0.93 8.60 5.35
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -35 380 717 904
Total Preferred & Common Equity		 -35 380 717 904
Total Common Equity		 -35 380 717 904
Common Stock		 4.39 503 1,022 1,465
Retained Earnings		 -40 -124 -306 -562
Accumulated Other Comprehensive Income / (Loss)		 0.00 0.33 0.92 1.08

Quarterly Balance Sheets for Apogee Therapeutics

This table presents Apogee Therapeutics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 426 824 801 776 714 658 626 1,294
Total Current Assets		 426 821 682 534 522 516 540 1,074
Cash & Equivalents		 188 485 307 119 107 124 108 452
Short-Term Investments		 235 331 369 407 406 381 419 608
Prepaid Expenses		 3.57 4.41 5.63 8.43 8.20 11 13 14
Plant, Property, & Equipment, net		 0.00 0.70 0.71 1.42 5.68 6.44 6.03 5.28
Total Noncurrent Assets		 0.00 2.35 118 240 187 135 80 215
Long-Term Investments		 - - 113 228 168 116 62 198
Other Noncurrent Operating Assets		 - 2.35 4.70 13 19 19 18 16
Total Liabilities & Shareholders' Equity		 426 824 801 776 714 658 626 1,294
Total Liabilities		 17 22 27 42 41 38 40 38
Total Current Liabilities		 17 22 25 33 33 32 34 33
Accounts Payable		 1.21 4.30 5.53 2.22 2.45 5.68 0.38 1.24
Accrued Expenses		 16 16 17 28 27 22 30 29
Other Current Liabilities		 - 1.14 1.68 2.87 3.98 4.03 4.08 3.14
Total Noncurrent Liabilities		 0.00 0.63 2.40 9.27 7.84 6.82 5.77 4.91
Other Noncurrent Operating Liabilities		 - 0.63 2.40 9.27 7.84 6.82 5.77 4.91
Commitments & Contingencies		 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 409 801 774 734 673 619 586 1,256
Total Preferred & Common Equity		 409 801 774 734 673 619 586 1,256
Total Common Equity		 409 801 774 734 673 619 586 1,256
Common Stock		 501 958 964 970 1,034 1,046 1,078 1,892
Retained Earnings		 -92 -156 -190 -239 -361 -427 -492 -636
Accumulated Other Comprehensive Income / (Loss)		 0.14 -0.18 -0.29 3.27 1.07 0.69 1.03 -0.75

Annual Metrics And Ratios for Apogee Therapeutics

This table displays calculated financial ratios and metrics derived from Apogee Therapeutics' official financial filings.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - 81,806,871.00
DEI Adjusted Shares Outstanding		 - - 81,806,871.00
DEI Earnings Per Adjusted Shares Outstanding		 - - -3.13
Growth Metrics		 - - -
Profitability Metrics		 - - -
Net Operating Profit after Tax (NOPAT)		 -65 -152 -200
Return On Investment Capital (ROIC_SIMPLE)		 -17.14% -21.18% -22.12%
Earnings before Interest and Taxes (EBIT)		 -93 -217 -286
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -96 -229 -292
Valuation Ratios		 - - -
Leverage & Solvency		 - - -
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 0.00 -153 -215
Efficiency Ratios		 - - -
Capital & Investment Metrics		 - - -
Invested Capital		 -16 -14 0.96
Increase / (Decrease) in Invested Capital		 0.00 1.27 15
Book Value per Share		 $7.50 $14.78 $11.05
Tangible Book Value per Share		 $7.50 $14.78 $11.05
Total Capital		 380 717 904
Total Debt		 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00
Net Debt		 -395 -731 -903
Capital Expenditures (CapEx)		 0.17 1.15 5.15
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -18 -20 -17
Debt-free Net Working Capital (DFNWC)		 378 501 713
Net Working Capital (NWC)		 378 501 713
Net Nonoperating Expense (NNE)		 19 30 56
Net Nonoperating Obligations (NNO)		 -395 -731 -903
Total Depreciation and Amortization (D&A)		 -3.07 -12 -6.08
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 ($3.36) ($3.30) ($4.22)
Adjusted Weighted Average Basic Shares Outstanding		 25.01M 55.19M 60.69M
Adjusted Diluted Earnings per Share		 ($3.36) ($3.30) ($4.22)
Adjusted Weighted Average Diluted Shares Outstanding		 25.01M 55.19M 60.69M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 50.66M 59.50M 69.49M
Normalized Net Operating Profit after Tax (NOPAT)		 -65 -152 -200
Debt Service Ratios		 - - -
Payout Ratios		 - - -

Quarterly Metrics And Ratios for Apogee Therapeutics

This table displays calculated financial ratios and metrics derived from Apogee Therapeutics' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - 81,806,871.00 69,485,247.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 81,806,871.00 69,485,247.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -0.85 -1.07
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBITDA Growth		 -24.83% 0.00% -222.82% -149.54% -153.26% -97.01% -59.73% -58.14% -16.65% - -28.57%
EBIT Growth		 -23.65% 0.00% -201.64% -133.64% -141.46% -104.23% -65.26% -65.82% -21.46% - -31.18%
NOPAT Growth		 -131.32% 0.00% -201.64% -133.64% -141.46% -104.23% -65.26% -65.82% -21.46% - -31.18%
Net Income Growth		 -6.02% 0.00% -156.24% -79.06% -135.21% -111.81% -72.43% -95.46% -32.65% - -33.92%
EPS Growth		 94.61% 0.00% 74.50% 84.13% -68.63% -134.88% -48.44% -88.33% -29.07% - -11.58%
Operating Cash Flow Growth		 0.00% 0.00% -199.67% -101.10% -113.90% -127.58% -53.23% -111.70% -27.59% - -14.63%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% -937.42% 0.00% -323.13% -338.96% -88.95% - -25.10%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% -42.48% 8.18% 45.15% 88.81% 86.64% - 69.70%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBITDA Q/Q Growth		 -29.93% -62.99% -2.17% -15.33% -31.87% -26.79% 17.16% -14.18% 2.73% - -5.69%
EBIT Q/Q Growth		 -28.70% -52.87% -2.76% -15.56% -33.01% -29.30% 16.85% -15.96% 2.58% - -6.04%
NOPAT Q/Q Growth		 -28.70% -52.87% -2.76% -15.56% -33.01% -29.30% 16.85% -15.96% 2.58% - -6.04%
Net Income Q/Q Growth		 -10.35% -52.28% 8.82% -5.37% -44.96% -37.13% 17.67% -19.44% 1.63% - -6.81%
EPS Q/Q Growth		 86.51% 774.51% -118.60% 6.25% -43.33% -39.53% 20.83% -18.95% 1.77% - -2.91%
Operating Cash Flow Q/Q Growth		 -36.44% -49.67% -6.33% 7.38% -45.13% -59.24% 28.41% -27.96% 12.53% - 11.36%
Free Cash Flow Firm Q/Q Growth		 0.00% 100.00% 0.00% -24.09% -136.88% -54.08% 6.57% -28.73% -1.96% - 9.03%
Invested Capital Q/Q Growth		 0.00% -14.22% 5.33% -8.60% -21.33% 26.39% 43.45% 77.85% -44.91% - -354.53%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.03% 100.15% 100.11% 100.09% - 100.11%
Interest Burden Percent		 85.74% 85.41% 84.06% 76.64% 83.53% 88.56% 87.57% 90.24% 91.14% - 89.44%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Equity (ROE)		 0.00% -32.18% -12.92% -30.63% -25.65% -33.22% -27.85% -34.12% -38.41% - -28.47%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Common Equity (ROCE)		 0.00% -21.24% -12.92% -30.63% -25.65% -33.22% -27.85% -34.12% -38.41% - -28.47%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% -12.92% -15.32% -19.97% 0.00% -30.50% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 -17 -26 -27 -31 -41 -53 -44 -51 -50 -55 -58
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Net Nonoperating Expense Percent (NNEP)		 -1.81% -1.45% -1.32% -0.74% -1.35% -2.50% -1.49% -2.11% -2.25% - -1.67%
Return On Investment Capital (ROIC_SIMPLE)		 - -6.85% - - - -7.41% -6.56% -8.27% -8.51% -6.04% -4.61%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings before Interest and Taxes (EBIT)		 -24 -37 -38 -44 -59 -76 -63 -73 -71 -78 -83
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -25 -40 -41 -47 -62 -79 -65 -75 -72 -79 -84
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 3.73 4.20 2.97 4.68 3.07 3.30 4.17 4.04 - 4.66
Price to Tangible Book Value (P/TBV)		 0.00 3.73 4.20 2.97 4.68 3.07 3.30 4.17 4.04 - 4.66
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Financial Leverage		 -1.03 -1.04 -1.02 -1.02 -1.03 -1.03 -1.02 -1.01 -1.02 - -1.01
Leverage Ratio		 1.04 1.06 1.03 1.03 1.05 1.05 1.04 1.05 1.06 - 1.04
Compound Leverage Factor		 0.89 0.91 0.86 0.79 0.88 0.93 0.91 0.94 0.97 - 0.93
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Altman Z-Score		 0.00 39.92 91.80 51.55 49.31 35.38 32.51 40.04 35.17 - 92.75
Noncontrolling Interest Sharing Ratio		 0.00% 34.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 24.82 19.38 38.08 27.70 16.39 18.55 15.82 16.36 15.86 - 32.59
Quick Ratio		 24.62 19.24 37.87 27.47 16.13 18.23 15.57 16.02 15.49 - 32.16
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3.40 0.00 -12 -15 -35 -54 -51 -65 -67 -70 -64
Operating Cash Flow to CapEx		 0.00% -17,816.77% -9,013.11% -57,450.98% -5,662.32% 0.00% -1,122.93% -8,076.69% 0.00% - 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -14 -16 -15 -16 -19 -14 -8.07 -1.79 -2.59 0.96 -2.45
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Increase / (Decrease) in Invested Capital		 -14 0.00 -15 -16 -5.78 1.27 6.65 14 17 15 5.63
Enterprise Value (EV)		 0.00 1,020 2,550 1,511 2,682 1,467 1,542 1,964 1,779 - 4,590
Market Capitalization		 0.00 1,416 3,366 2,300 3,435 2,198 2,223 2,586 2,368 - 5,849
Book Value per Share		 $9.93 $7.50 $15.82 $13.23 $12.56 $14.78 $11.32 $10.40 $9.84 $11.05 $18.07
Tangible Book Value per Share		 $9.93 $7.50 $15.82 $13.23 $12.56 $14.78 $11.32 $10.40 $9.84 $11.05 $18.07
Total Capital		 409 380 801 774 734 717 673 619 586 904 1,256
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -423 -395 -816 -790 -754 -731 -681 -621 -589 -903 -1,258
Capital Expenditures (CapEx)		 0.00 0.17 0.35 0.05 0.75 -0.00 4.32 0.77 0.00 0.06 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -14 -18 -17 -19 -24 -20 -25 -21 -21 -17 -19
Debt-free Net Working Capital (DFNWC)		 409 378 799 657 502 501 489 485 506 713 1,041
Net Working Capital (NWC)		 409 378 799 657 502 501 489 485 506 713 1,041
Net Nonoperating Expense (NNE)		 3.83 5.73 5.37 2.93 7.94 14 11 15 15 15 16
Net Nonoperating Obligations (NNO)		 -423 -395 -816 -790 -754 -731 -681 -621 -589 -903 -1,258
Total Depreciation and Amortization (D&A)		 -0.23 -2.84 -2.68 -3.00 -3.46 -2.91 -2.17 -1.36 -1.21 -1.34 -1.14
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.51) $3.44 ($0.64) ($0.60) ($0.86) ($1.20) ($0.95) ($1.13) ($1.11) ($1.03) ($1.06)
Adjusted Weighted Average Basic Shares Outstanding		 41.23M 25.01M 50.19M 56.52M 56.80M 55.19M 58.20M 58.43M 58.77M 60.69M 69.67M
Adjusted Diluted Earnings per Share		 ($0.51) $3.44 ($0.64) ($0.60) ($0.86) ($1.20) ($0.95) ($1.13) ($1.11) ($1.03) ($1.06)
Adjusted Weighted Average Diluted Shares Outstanding		 41.23M 25.01M 50.19M 56.52M 56.80M 55.19M 58.20M 58.43M 58.77M 60.69M 69.67M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 50.67M 50.66M 58.46M 58.49M 48.51M 59.50M 59.53M 59.60M 81.81M 69.49M 75.39M
Normalized Net Operating Profit after Tax (NOPAT)		 -17 -26 -27 -31 -41 -53 -44 -51 -50 -55 -58
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Apogee Therapeutics (APGE) across the last four years of quarterly statements, focusing on trends you may care about as a retail investor.

  • Significant equity financing in Q4 2025: Issuance of Common Equity around $370.3 million, with net cash from financing activities about $374.95 million, dramatically boosting liquidity.
  • Ongoing equity fundraising in prior periods supports runway: Q4 2024 saw common equity issuance of about $43.5 million, contributing roughly $44.36 million in net financing cash flow.
  • Liquidity cushion on the balance sheet: As of Q3 2025, cash & equivalents were $107.9 million and short-term investments $419.4 million, with total current assets of $540.1 million and total assets of $626.2 million, implying a substantial liquidity buffer for continued R&D spend.
  • Strong equity base on the books: Total Common Equity around $586.3 million (Q3 2025), reflecting capital raised from financing activity.
  • No revenue in several quarters: Revenue remains essentially zero in many periods, aligning with a pre-revenue biotech development profile.
  • R&D and SG&A continue to be high: Research & Development and Selling, General & Administrative expenses remain elevated, consistent with ongoing pipeline work and company-building activity.
  • Persistent quarterly losses: Net income (or loss) runs around the mid-$60s to $70 million per quarter in 2025 (e.g., Q4 2025 net income about -$69.4 million; Q3 2025 about -$65.0 million).
  • Cash burn from operations: Net cash from operating activities is negative across quarters (e.g., Q4 2025 around -$62.69 million; Q3 2025 around -$54.26 million), signaling ongoing cash burn before financing activities.
  • Significant investing outflows in some quarters: Substantial purchases of investments in several periods (e.g., Q4 2025 about -$389.1 million; Q3 2025 about -$107.6 million; Q1 2025 about -$98.2 million), contributing to large cash outflows despite financing inflows.
05/26/26 12:09 PM ETAI Generated. May Contain Errors.

Apogee Therapeutics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Apogee Therapeutics' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Apogee Therapeutics' net income appears to be on an upward trend, with a most recent value of -$255.84 million in 2025, rising from -$83.99 million in 2023. The previous period was -$182.15 million in 2024. Find out what analysts predict for Apogee Therapeutics in the coming months.

Apogee Therapeutics' total operating income in 2025 was -$285.60 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $285.60 million

Over the last 2 years, Apogee Therapeutics' total revenue changed from $0.00 in 2023 to $0.00 in 2025, a change of 0.0%.

Apogee Therapeutics' total liabilities were at $33.25 million at the end of 2025, a 10.5% decrease from 2024, and a 233.2% increase since 2022.

In the past 3 years, Apogee Therapeutics' cash and equivalents has ranged from $118.32 million in 2023 to $151.89 million in 2022, and is currently $131.55 million as of their latest financial filing in 2025.

Over the last 2 years, Apogee Therapeutics' book value per share changed from 7.50 in 2023 to 11.05 in 2025, a change of 47.4%.


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Financial statements for NASDAQ:APGE last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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