The company remains essentially pre-revenue, with 2025Q3 operating losses of $34.1 million highlighting a lack of commercial scale and heavy reliance on R&D spending.
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Sales/Revenue | 706K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 500K | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | -100% | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 119K | 0 | 395K | 202K | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | 706K | 0 | 0 | 0 | 0 | 0 | 0 | -119K | 500K | -395K | -202K | 0 | 0 | 0 |
| Gross Margin % | 100% | - | - | - | - | - | - | - | 100% | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | - | 100% | -123.8% | 226.58% | -95.54% | - | - | - | - |
| Operating Expenses | 137.22M | 111.56M | 83.03M | 53.5M | 194.98M | 37.44M | 27.09M | 26.37M | 27.59M | 35.56M | 31.66M | 21.68M | 18.12M | 15.67K |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | 5518.8% | - | - | - | - | - |
| Selling, General & Admin | 39.41M | 35.25M | 25.7M | 19.73M | 14.81M | 11.85M | 9.07M | 9.33M | 8.91M | 10.11M | 8.63M | 6M | 4.13M | 3.98K |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | 1782.4% | - | - | - | - | - |
| Research & Development | 98.04M | 77.11M | 57.33M | 34.26M | 15.55M | 25.59M | 18.32M | 17.04M | 18.68M | 25.45M | 23.03M | 15.69M | 13.99M | 12.41K |
| R&D % of Revenue | - | - | - | - | - | - | - | - | 3736.4% | - | - | - | - | - |
| Other Operating Expenses | -231K | -801K | 0 | -487K | 164.62M | 0 | -303K | 176K | 32K | 93K | 7K | 3K | 1K | 0 |
| Operating Income | -136.51M | -111.56M | -83.03M | -53.5M | -194.98M | -37.44M | -27.09M | -26.37M | -27.09M | -35.56M | -31.66M | -21.68M | -18.12M | -15.67K |
| Operating Margin % | -19335.69% | - | - | - | - | - | - | - | -5418.8% | - | - | - | - | - |
| Operating Income Growth % | - | -34.36% | -55.19% | 72.56% | -420.84% | -38.2% | -2.72% | 2.67% | 23.8% | -12.32% | -46.02% | -19.66% | -115506.46% | - |
| EBITDA | -134.05M | -111.56M | -98.23M | -53.5M | -30.36M | -37.41M | -27.06M | -26.25M | -26.79M | -35.16M | -31.46M | -21.43M | -17.8M | -15.35K |
| EBITDA Margin % | -18987.11% | - | - | - | - | - | - | - | -5358% | - | - | - | - | - |
| EBITDA Growth % | -2.08% | -13.57% | -83.6% | -76.23% | 18.85% | -38.23% | -3.09% | 2.01% | 23.81% | -11.78% | -46.77% | -20.42% | -115884.62% | - |
| D&A (Non-Cash Add-back) | 0 | 0 | -15.2M | 0 | 0 | 26K | 26K | 119K | 304K | 395K | 202K | 248K | 320K | 327 |
| EBIT | -134.05M | -111.56M | -67.83M | -53.5M | -30.36M | -37.44M | -27.09M | -25.77M | -26.9M | -35.22M | -31.66M | -21.68M | -18.12M | -15.67M |
| Net Interest Income | 12.69M | 17.36M | 10.2M | 1.72M | 122K | 236K | 845K | 325K | -302K | -595K | 0 | 0 | 0 | 0 |
| Interest Income | 12.69M | 17.36M | 10.2M | 1.72M | 122K | 236K | 845K | 425K | 160K | 242K | 0 | 0 | 0 | 4 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100K | 462K | 837K | 978K | 206K | 0 | 0 |
| Other Income/Expense | 12.48M | 17.3M | 10.14M | 1.67M | 64K | 135K | 795K | 501K | -270K | -502K | -971K | -203K | 1K | 4 |
| Pretax Income | -124.03M | -94.26M | -72.89M | -51.83M | -194.91M | -37.3M | -26.29M | -25.87M | -27.36M | -36.06M | -32.63M | -21.88M | -18.12M | -15.67K |
| Pretax Margin % | -17567.99% | - | - | - | - | - | - | - | -5472.8% | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 209K | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -0.96% | 0% | 0% |
| Net Income | -124.03M | -94.26M | -72.89M | -51.83M | -194.91M | -37.3M | -26.29M | -25.87M | -27.36M | -36.06M | -32.63M | -21.88M | -18.12M | -15.67K |
| Net Margin % | -17567.99% | - | - | - | - | - | - | - | -5472.8% | - | - | - | - | - |
| Net Income Growth % | -23.98% | -29.32% | -40.62% | 73.41% | -422.55% | -41.86% | -1.64% | 5.46% | 24.12% | -10.51% | -49.1% | -20.79% | -115529.59% | - |
| Net Income (Continuing) | -124.03M | -94.26M | -72.89M | -51.83M | -194.91M | -37.3M | -26.29M | -25.87M | -27.36M | -36.06M | -32.63M | -21.88M | -18.12M | -15.67K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.14 | -1.68 | -2.42 | -3.55 | -24.58 | -12.20 | -14.06 | -30.71 | -75.73 | -133.31 | -243.45 | -151.53 | -125.45 | -0.11 |
| EPS Growth % | -2.38% | 30.58% | 31.83% | 85.56% | -101.48% | 13.23% | 54.22% | 59.45% | 43.19% | 45.24% | -60.66% | -20.79% | -116057.41% | - |
| EPS (Basic) | - | -1.68 | -2.42 | -3.55 | -24.58 | -12.20 | -14.06 | -30.71 | -75.73 | -133.31 | -243.45 | -151.53 | -125.45 | -0.11 |
| Diluted Shares Outstanding | 58.01M | 56.16M | 30.12M | 14.62M | 8.93M | 3.06M | 1.87M | 842.47K | 361.36K | 270.5K | 134.03K | 144.42K | 144.42K | 144.42K |
| Basic Shares Outstanding | 58.01M | 56.16M | 30.12M | 14.62M | 8.93M | 3.06M | 1.87M | 842.47K | 361.36K | 270.5K | 134.03K | 144.42K | 144.42K | 144.42K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Single-asset clinical dependency
As indicated by the company's financial statements, Astria Therapeutics remains a pre-revenue entity, with the nominal $706,000 reported in 2025Q3 representing an isolated event rather than a shift toward commercialization, underscoring the firm's total reliance on the successful clinical development of its lead candidate, STAR-0215.
The lack of consistent revenue streams confirms that the company's valuation is entirely decoupled from current operational performance. Investors should interpret the absence of top-line growth as a reflection of the firm's status as a pure-play clinical-stage biotech, where value is derived from pipeline milestones rather than product sales.
Based on reported quarterly filings, Astria's cost structure is dominated by research and development expenditures, which peaked at $27.8 million in 2025Q1, reflecting the intensive capital requirements necessary to advance the STAR-0215 program through its current clinical trial phases without any offsetting commercial revenue.
The persistent elevation of R&D costs relative to SG&A suggests that management is prioritizing clinical execution over administrative expansion. This high fixed-cost burden warrants close monitoring, as it directly dictates the company's cash runway and the urgency for future capital raises.
According to historical income statement data, the company's operating losses have remained consistently deep, reaching $34.1 million in 2025Q3, which suggests that the firm has yet to achieve any meaningful operating leverage as it continues to scale its clinical trial infrastructure and manufacturing capabilities.
The widening gap between R&D spending and the lack of revenue indicates that the company is in a phase of maximum cash consumption. Without a commercial product to provide scale, the operating margin remains deeply negative, highlighting the inherent financial risk associated with the current development-stage business model.
As reported in recent SEC filings, the company's net loss figures are periodically impacted by stock-based compensation, which reached $4.4 million in 2025Q2, suggesting that non-cash expenses are a significant component of the firm's total operating costs and may mask the underlying cash burn rate.
Analysts should adjust for these non-cash charges to better understand the true operational cash requirements of the business. The reliance on equity-based incentives appears to be a strategic tool for preserving cash, though it introduces potential dilution risks that investors must carefully model.
Based on the provided financial data, the company's cash position of $59.8 million appears insufficient to support long-term clinical development, suggesting that the firm may face significant equity dilution risks as it approaches the next phase of its capital-intensive research and development cycle.
The market may be underestimating the potential for future capital raises to erode shareholder value, particularly if clinical timelines for STAR-0215 are extended. Investors should monitor the burn rate closely, as any delay in trial progress could necessitate dilutive financing at unfavorable valuations.
Quick answers to the most common questions about buying ATXS stock.
For fiscal year 2024, Astria Therapeutics, Inc. (ATXS) reported total revenue of $0.0M.
Astria Therapeutics, Inc. (ATXS) reported a net loss of $94.3M for the fiscal year ending 2024.