Apogee Therapeutics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 |
|---|---|---|---|---|
| Income Statement | ||||
| Research and development | $214.7M | $167.9M | $68.4M | $27.8M |
| Operating expenses | $285.6M | $216.9M | $93.0M | $30.7M |
| Operating income | -$285.6M | -$216.9M | -$93.0M | -$30.7M |
| Pretax income | -$255.6M | -$182.1M | -$84.0M | — |
| Income tax expense | $278,000 | $18,000 | $0 | — |
| Net income | -$255.8M | -$182.1M | -$84.0M | -$39.8M |
| Balance Sheet | ||||
| Cash and equivalents | $131.5M | $141.8M | $118.3M | $151.9M |
| Current assets | $741.4M | $529.7M | $398.4M | $152.1M |
| Total assets | $937.1M | $754.0M | $401.4M | $152.1M |
| Current liabilities | $27.9M | $28.6M | $20.6M | $10.0M |
| Total liabilities | $33.3M | $37.2M | $21.5M | $10.0M |
| Cash Flow Statement | ||||
| Cash from operations | -$227.4M | -$171.2M | -$74.8M | -$16.4M |
| Depreciation and amortization | $1.4M | $189,000 | — | — |
| Stock-based compensation | $46.3M | $23.3M | $6.1M | $2.1M |
| Capital expenditure | $5.1M | $1.2M | $167,000 | — |
| Free cash flow | -$232.6M | -$172.3M | -$74.9M | — |
Shares outstanding 75.4M · Free float 70.1%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.