Edgewise Therapeutics, Inc. (EWTX) Financial Statements & Historical Data
Edgewise Therapeutics, Inc. (EWTX) — Price $38.87 (closing price, November 5, 2026) — Healthcare — Biotechnology — NASDAQ
Latest reported results:
Detailed financial statements for Edgewise Therapeutics, Inc. (EWTX): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.
Edgewise Therapeutics, Inc. is a biopharmaceutical firm dedicated to developing small-molecule treatments for a range of musculoskeletal disorders. Its leading investigational drug, EDG-5506, is an orally administered compound specifically engineered to tackle the fundamental genetic causes of dystrophinopathies, including Duchenne and Becker muscular dystrophy. This candidate has successfully concluded its Phase 1 clinical trial.
At $38.87 (closing price, November 5, 2026), EWTX trades at a P/E of 4.75 and an ROE of 130.43%. Market capitalisation stands at $4.2B.
Balance sheet quality for EWTX: debt-to-equity ratio of 0.00, current ratio of 12.30 over the last 12 months, net cash position of $526.1M at the end of the last fiscal year. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
Year
2019
2020
2021
2022
2023
2024
2025
Revenue
0
0
0
0
0
0
0
Cost of Revenue
$123,000
$185,000
0
0
0
0
$2.3M
Gross Profit
-$123,000
-$185,000
0
0
0
0
-$2.3M
Research & Development
$8.6M
$14.8M
$32.2M
$54.0M
$90.9M
$127.0M
$151.4M
Selling, General & Admin
$1.3M
$2.2M
$11.0M
$17.6M
$23.5M
$31.9M
$40.0M
Operating Expenses
$9.9M
$17.0M
$43.2M
$71.7M
$114.4M
$158.8M
$189.1M
Operating Income
-$9.9M
-$17.2M
-$43.2M
-$71.7M
-$114.4M
-$158.8M
-$191.4M
EBITDA
-$9.8M
-$17.0M
-$42.5M
-$63.1M
-$98.4M
-$131.5M
-$165.5M
Interest Expense
0
0
0
$4.0M
0
0
0
Pre-tax Income
-$9.7M
-$17.1M
-$42.8M
-$67.6M
-$100.2M
-$133.8M
-$167.8M
Income Tax
0
0
0
0
0
0
0
Net Income
-$9.5M
-$17.1M
-$42.8M
-$67.6M
-$100.2M
-$133.8M
-$167.8M
EPS
-$0.19
-$0.35
-$0.86
-$1.26
-$1.57
-$1.45
-$1.63
EPS (Diluted)
-$0.19
-$0.35
-$0.86
-$1.26
-$1.57
-$1.45
-$1.63
Shares Outstanding (Diluted)
49.2 M
49.2 M
49.5 M
53.6 M
63.7 M
92.4 M
102.9 M
Income Statement (Quarterly)
Year
2025-Q4
2026-Q1
2026-Q2
2026-Q3
Revenue
0
0
0
0
Gross Profit
0
-$590,000
0
0
Operating Income
-$56.0M
-$54.1M
-$61.9M
-$46.1M
EBITDA
-$49.6M
-$48.4M
-$56.7M
$1.32B
Net Income
-$50.2M
-$49.0M
-$57.3M
$1.17B
EPS
-$0.47
-$0.46
-$0.53
$10.71
EPS (Diluted)
-$0.47
-$0.46
-$0.53
$9.65
Balance Sheet (10y)
Year
2019
2020
2021
2022
2023
2024
2025
Cash & Equivalents
$23.7M
$104.9M
$15.6M
$22.0M
$86.1M
$41.7M
$61.1M
Short-term Investments
0
$24.2M
$265.2M
$330.0M
$232.3M
$428.5M
$469.0M
Receivables
0
0
0
0
0
0
0
Inventory
0
0
0
0
0
0
0
Total Current Assets
$24.0M
$129.6M
$283.8M
$357.0M
$327.0M
$475.5M
$543.4M
Property, Plant & Equipment
$498,000
$516,000
$912,000
$9.9M
$12.7M
$11.1M
$9.2M
Goodwill
0
0
0
0
0
0
0
Intangible Assets
0
0
0
0
0
0
0
Total Assets
$24.5M
$131.1M
$285.2M
$367.1M
$340.0M
$486.8M
$552.6M
Accounts Payable
$667,000
$1.6M
$3.8M
$6.1M
$4.0M
$5.6M
$6.0M
Short-term Debt
0
0
0
0
0
0
0
Total Current Liabilities
$1.1M
$4.3M
$10.5M
$16.6M
$16.8M
$23.9M
$27.4M
Long-term Debt
0
$160.2M
0
0
0
0
$3.0M
Total Liabilities
$41.4M
$164.6M
$10.8M
$20.4M
$21.2M
$27.6M
$30.3M
Retained Earnings
-$17.0M
-$34.1M
-$77.0M
-$144.6M
-$244.8M
-$378.6M
-$546.4M
Total Equity
-$16.9M
-$33.4M
$274.4M
$346.7M
$318.8M
$459.2M
$522.3M
Total Debt
0
$160.2M
0
$4.4M
$5.4M
$4.7M
$4.0M
Net Debt
-$23.7M
$31.1M
-$280.8M
-$347.5M
-$313.0M
-$465.4M
-$526.1M
Working Capital
$22.9M
$125.3M
$273.3M
$340.4M
$310.2M
$451.6M
$516.0M
Balance Sheet (Quarterly)
Year
2025-Q3
2025-Q4
2026-Q1
2026-Q2
Cash & Equivalents
$46.0M
$61.1M
$33.2M
$72.3M
Total Assets
$583.5M
$552.6M
$518.5M
$479.7M
Total Liabilities
$24.8M
$30.3M
$25.3M
$31.6M
Total Equity
$558.6M
$522.3M
$493.2M
$448.1M
Total Debt
$4.2M
$4.0M
$3.8M
$3.6M
Cash Flow (10y)
Year
2019
2020
2021
2022
2023
2024
2025
Net Income
-$9.7M
-$17.1M
-$42.8M
-$67.6M
-$100.2M
-$133.8M
-$167.8M
Depreciation & Amortization
$123,000
$185,000
$272,000
$538,000
$1.7M
$2.3M
$2.3M
Stock-based Compensation
$77,000
$354,000
$4.4M
$10.9M
$17.6M
$24.7M
$34.8M
Change in Working Capital
$334,000
$1.9M
$4.6M
$4.1M
-$1.6M
$10.3M
-$5.4M
Operating Cash Flow
-$9.2M
-$14.6M
-$33.5M
-$52.6M
-$91.9M
-$109.0M
-$143.8M
Capital Expenditure
-$180,000
-$203,000
-$668,000
-$5.5M
-$5.7M
-$1.3M
-$256,000
Acquisitions
0
0
$241,559
$65,031
0
0
0
Stock Repurchased
0
0
0
0
0
0
0
Dividends Paid
0
0
0
0
0
0
0
Free Cash Flow
-$9.4M
-$14.8M
-$34.2M
-$58.2M
-$97.7M
-$110.3M
-$143.8M
Cash Flow (Quarterly)
Year
2025-Q3
2025-Q4
2026-Q1
2026-Q2
Operating Cash Flow
-$34.8M
-$38.6M
-$42.5M
-$43.5M
Capital Expenditure
-$89,000
$183,000
-$260,000
-$32,000
Free Cash Flow
-$34.9M
-$38.4M
-$42.8M
-$43.5M
Dividends Paid
0
0
0
0
Stock-based Compensation
$8.1M
-$24.9M
$8.7M
$9.4M
Growth & Margins (10y)
Year
2019
2020
2021
2022
2023
2024
2025
Net Income Growth (YoY)
-79.8%
-151.0%
-58.0%
-48.1%
-33.6%
-25.4%
EPS Growth (YoY)
-84.2%
-145.7%
-46.5%
-24.6%
+7.6%
-12.4%
Shares Change (YoY)
+0.0%
+0.6%
+8.3%
+18.9%
+45.0%
+11.4%
FCF Growth (YoY)
-58.7%
-130.3%
-70.2%
-67.9%
-12.9%
-30.3%
Effective Tax Rate
-0.0%
-0.0%
-0.0%
-0.0%
-0.0%
-0.0%
-0.0%
Per-Share Data (10y)
Year
2019
2020
2021
2022
2023
2024
2025
FCF Per Share
-$0.19
-$0.30
-$0.69
-$1.09
-$1.53
-$1.19
-$1.40
Dividends Per Share
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Shares Outstanding (Basic)
49.2 M
49.2 M
49.5 M
53.6 M
63.7 M
92.4 M
102.9 M
What to look at in Biotech
Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.
Cash Runway — Months of cash at current burn rate. <18 months = urgent dilution risk
Annual cash burn — Rate at which they burn operating cash. Compare with cash position to project runway
Total Debt — Biotech with no revenue + debt = recipe for bankruptcy
R&D / Market cap — How much they invest in pipeline vs the company value — research-intensity indicator
Market cap / Cash — If it trades near its cash, the market assigns ~0 value to the pipeline — opportunity or trap