LeonaBio Inc. Common Stock (LONA)

FairStock Score: 29/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a disciple of Graham and Buffett, I start with the business, not the story. LeonaBio is a 19-employee clinical-stage biopharmaceutical company with no reported revenue in any filed period I can see. It is developing lasofoxifene and ATH-1105 for treatment-resistant metastatic breast cancer and ALS, serious unmet needs but unproven. The income statement is bleak: in FY2025 net income was -$105.6M, following -$96.9M in FY2024 and -$117.7M in FY2023. In fiscal Q2 2026, the quarter ended 2026-06-30, it lost $19.0M; in fiscal Q1 2026 it lost $32.9M. Trailing free cash flow is -$61.9M, which is -102.2% of the $60.6M market cap at the 2026-10-13 close. FairStock's numbers show a negative P/E, P/B of 1.80, ROE of -431.39%, ROCE of -74.06%, Piotroski 0/9, and Altman Z-score of -11.32. The low D/E of 0.02 offers little comfort when cash burn exceeds market value. There is no economic moat that I can identify: no revenue, no profits, and value depends on clinical trial outcomes. The 52-week range of $2.21 to $14.21 and beta of 2.05 signal a speculative security. Peter Lynch categorization is 'none' because it lost money in each of the last four years. I cannot value this on earnings or assets with any confidence. It may be a lottery ticket on science, but not a Graham bargain.

In plain English: LeonaBio is a small early-stage drug company with 19 employees working on new medicines for metastatic breast cancer and ALS. It has no reported revenue, has lost money for years, and burned through about $61.9 million in cash over the last twelve months. At $6.43 a share, the price reflects hopes for its drug pipeline rather than current profits, so it looks highly speculative and hard to call cheap on today's numbers.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer