Company	Price	Valuation					Profitability					Cash & leverage					Quality				Rating
		P/E	P/B	P/S	EV / EBITDA	DCF upside	Gross margin	Operating margin	Net margin	ROE	ROIC	FCF yield	Debt / equity	Net debt / EBITDA	Interest coverage	Current ratio	Dividend yield	Piotroski (0-9)	Altman Z	Rating score (1-5)
ANNXthis companyAnnexon, Inc.	$4.28	-3.75×	3.68×	0×	-3.14×	-80.0%	0.0%	0.0%	0.0%	-97.7%	-91.0%	-24.0%	0.12×	0.66×	0×	5.68×	0.0%	1	-1.2	2	C
ACRSAclaris Therapeutics, Inc.	$4.18	-5.68×	3.58×	47.18×	-5.45×	-122.2%	73.3%	-975.9%	-829.6%	-63.0%	-57.7%	-12.8%	0.02×	0.28×	0×	5.28×	0.0%	2	-2.65	1	D+
ALMSAlumis Inc.	$6.42	-4.21×	27.54×	345.07×	-33.2×	-85.0%	85.5%	-1776.3%	-1011.7%	-80.8%	-120.2%	-4.5%	0.12×	0.21×	0×	4.34×	0.0%	2	0.06	1	C-
ANABAnaptysBio, Inc.	$47.50	-70.26×	24.14×	3.83×	9.73×	-639.3%	99.0%	20.4%	-5.6%	-35.6%	14.6%	2.2%	0.38×	-3.24×	0.6×	9.07×	0.0%	5	2.21	3	B
IMVTImmunovant, Inc.	$35.12	-8.97×	5.31×	0×	-7.19×	-83.0%	0.0%	0.0%	0.0%	-59.3%	-62.5%	-9.0%	0×	1.79×	0×	9.09×	0.0%	3	26.71	1	D+
QTTBQ32 Bio Inc.	$9.36	1.37×	0.97×	0.76×	0.25×	5.9%	100.0%	31.5%	55.5%	71.0%	29.5%	-82.1%	0.37×	-1.05×	15.37×	4.85×	0.0%	5	15.46	5	A+
Peer median	—	-5.68×	5.31×	3.83×	-5.45×	-85.0%	85.5%	0.0%	-5.6%	-59.3%	-57.7%	-9.0%	0.12×	0.21×	0×	5.28×	0.0%	3	2.21	1	—