Apogee Therapeutics, Inc. (APGE) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the APGE SEC filings page.
This page shows Apogee Therapeutics, Inc. (APGE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Apogee is financing an expanding research program with external capital while operating losses and cash consumption continue to widen.
By FY2025, R&D spending reached$214.7M while operating cash outflow was$227.5M , showing that the research program itself absorbs nearly the same scale of cash as the reported annual loss. The close relationship between the net loss of$255.8M and cash outflow indicates that reported losses are translating into cash use rather than being dominated by noncash charges.
R&D reached
Total liabilities were
Financial Health Signals
Apogee Therapeutics, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Apogee Therapeutics, Inc. passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
Apogee Therapeutics, Inc. reported a net loss of $255.8M while operations used $227.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Apogee Therapeutics, Inc.'s EBITDA was -$95.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 31.4% from the same quarter a year earlier. Against the prior quarter it is down 16.1%.
Apogee Therapeutics, Inc. reported -$85.9M in net income in Q2 2026. This represents a decrease of 29.9% from the same quarter a year earlier. Against the prior quarter it is down 15.8%.
Apogee Therapeutics, Inc. earned -$1.14 per diluted share (EPS) in Q2 2026. This represents a decrease of 0.9% from the same quarter a year earlier. Against the prior quarter it is down 7.5%.
Not reported for Q2 2026.
Cash & Balance Sheet
Apogee Therapeutics, Inc. held $105.6M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Apogee Therapeutics, Inc.'s ROE was -7.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 3.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.3 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Apogee Therapeutics, Inc. invested $67.3M in research and development in Q2 2026. This represents an increase of 20.8% from the same quarter a year earlier. Against the prior quarter it is up 10.7%.
Not reported for Q2 2026.
Not reported for Q2 2026.
APGE Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $67.3M+20.8% | $60.8M+31.1% | N/A | $54.2M+18.5% | $55.7M+67.7% | $46.4M+61.5% | N/A | $45.7M+167.8% |
| SG&A Expenses | $24.3M+39.4% | $22.0M+31.4% | N/A | $17.1M+31.8% | $17.5M+60.0% | $16.7M+76.5% | N/A | $13.0M+79.3% |
| Operating Income | -$96.0M-31.2% | -$82.8M-31.2% | N/A | -$71.3M-21.5% | -$73.2M-65.8% | -$63.1M-65.3% | N/A | -$58.7M-141.5% |
| EBITDA | -$95.6M-31.4% | -$82.4M-31.0% | N/A | -$70.9M-20.9% | -$72.8M-65.1% | -$62.9M-64.8% | N/A | -$58.6M |
| Interest Expense | $1.6M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $78K+8.3% | $79K-4.8% | N/A | $61K | $72K | $83K | N/A | $0 |
| Net Income | -$85.9M-29.9% | -$74.1M-33.9% | N/A | -$65.0M-32.6% | -$66.1M-95.5% | -$55.3M-72.4% | N/A | -$49.0M-135.2% |
| EPS (Basic) | -$1.14-0.9% | -$1.06-11.6% | -$1.03+13.4% | -$1.11-29.1% | -$1.13-88.3% | -$0.95-48.4% | -$1.19-271.9% | -$0.86-68.6% |
| EPS (Diluted) | -$1.14-0.9% | -$1.06-11.6% | -$1.03+13.4% | -$1.11-29.1% | -$1.13-88.3% | -$0.95-48.4% | -$1.19-271.9% | -$0.86-68.6% |
| Diluted Shares (Avg) | 75M+29.1% | 70M+19.7% | N/A | 59M+3.5% | 58M+3.4% | 58M+16.0% | N/A | 57M+37.7% |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit.
APGE Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3B+103.1% | $1.3B+81.1% | $937.1M+24.3% | $626.2M-19.3% | $657.8M-17.8% | $714.2M-13.3% | $754.0M+87.8% | $776.3M+82.0% |
| Current Assets | $991.7M+92.2% | $1.1B+105.9% | $741.4M+40.0% | $540.1M+1.1% | $516.1M-24.3% | $521.5M-36.4% | $529.7M+33.0% | $534.5M+25.3% |
| Cash & Equivalents | $105.6M-15.0% | $451.8M+322.6% | $131.5M-7.2% | $107.9M-9.1% | $124.2M-59.6% | $106.9M-78.0% | $141.8M+19.8% | $118.8M-36.9% |
| Short-Term Investments | $866.4M+127.3% | $608.1M+49.6% | $598.6M+58.0% | $419.4M+3.0% | $381.2M+3.3% | $406.4M+22.9% | $378.9M+36.7% | $407.3M+73.6% |
| Long-Term Investments | $321.9M+178.1% | $198.4M+18.0% | $172.7M-17.9% | $61.6M-72.9% | $115.8M+2.1% | $168.1M | $210.4M | $227.7M |
| Total Liabilities | $141.2M+268.0% | $37.9M-7.2% | $33.3M-10.5% | $39.8M-4.9% | $38.4M+42.0% | $40.8M+83.9% | $37.2M+72.9% | $41.9M+143.8% |
| Current Liabilities | $37.5M+18.9% | $33.0M0.0% | $27.9M-2.3% | $34.0M+4.4% | $31.6M+28.2% | $33.0M+52.9% | $28.6M+38.9% | $32.6M+89.8% |
| Non-Current Liabilities | $103.7M+1420.5% | $4.9M-37.4% | $5.3M-37.8% | $5.8M-37.7% | $6.8M+184.0% | $7.8M+1144.4% | $8.6M+821.4% | $9.3M |
| Total Equity | $1.2B+92.9% | $1.3B+86.5% | $903.9M+26.1% | $586.3M-20.2% | $619.4M-19.9% | $673.4M-16.0% | $716.8M+88.7% | $734.4M+79.5% |
| Retained Earnings | -$721.7M-68.9% | -$635.9M-76.0% | -$561.8M-83.6% | -$492.4M-106.3% | -$427.4M-125.3% | -$361.3M-131.8% | -$305.9M-147.2% | -$238.7M-159.4% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
APGE Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$71.4M-15.1% | -$55.6M-14.6% | -$62.7M+7.4% | -$54.3M-27.6% | -$62.0M-111.7% | -$48.5M-53.2% | -$67.7M-127.6% | -$42.5M-113.9% |
| Depreciation & Amortization | $400K0.0% | $408K+97.1% | $406K+434.2% | $400K+733.3% | $400K+1011.1% | $207K+613.8% | $76K | $48K |
| Stock-Based Compensation | $16.7M+46.9% | $17.2M+54.2% | N/A | $11.9M+103.4% | $11.3M+99.1% | $11.1M+165.8% | N/A | $5.8M+288.0% |
| Capital Expenditures | N/A | N/A | $62K+6100.0% | $0-100.0% | $768K+1405.9% | $4.3M+1129.9% | -$1K | $751K |
| Free Cash Flow | N/A | N/A | -$62.8M+7.3% | -$54.3M-25.4% | -$62.8M-114.0% | -$52.8M-65.0% | -$67.7M | -$43.3M |
| Investing Cash Flow | -$381.9M-588.8% | -$35.3M-372.3% | -$288.6M-722.5% | $17.9M+112.3% | $78.1M+152.5% | $13.0M+125.1% | $46.4M+216.8% | -$146.4M |
| Financing Cash Flow | $107.0M+8969.2% | $411.2M+66004.0% | $374.9M+745.3% | $19.7M+5053.5% | $1.2M+886.7% | $622K-99.9% | $44.4M+20924.4% | $383K-99.9% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
APGE Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -7.2%+3.5pp | -5.9%+2.3pp | N/A | -11.1%-4.4pp | -10.7%-6.3pp | -8.2%-4.2pp | N/A | -6.7%-1.6pp |
| Return on Assets | -6.4%+3.6pp | -5.7%+2.0pp | N/A | -10.4%-4.1pp | -10.1%-5.8pp | -7.8%-3.9pp | N/A | -6.3%-1.4pp |
| Current Ratio | 26.44+10.1x | 32.59+16.8x | 26.57+8.0x | 15.86-0.5x | 16.36-11.3x | 15.82-22.3x | 18.55-0.8x | 16.39-8.4x |
| Debt-to-Equity | 0.12+0.1x | 0.030.0x | 0.040.0x | 0.070.0x | 0.060.0x | 0.060.0x | 0.050.0x | 0.060.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Apogee Therapeutics, Inc. APGE | FY2025 | N/A | -$255.8M | N/A | $10.2B | — |
| Arcutis Biotherapeutics, Inc. ARQT | FY2025 | $376.1M | -$16.1M | -4.3% | $3.2B | 45/100 |
| Travere Therapeutics, Inc. TVTX | FY2025 | $490.7M | -$25.5M | -5.2% | $5.4B | 71/100 |
| Agios Pharmaceuticals, Inc. AGIO | FY2025 | $54.0M | -$413.0M | N/A | $1.9B | 70/100 |
| ImmunityBio, Inc. IBRX | FY2025 | $113.3M | -$351.5M | N/A | $11.0B | 41/100 |
Where Apogee Therapeutics, Inc. Ranks
Frequently Asked Questions
Is Apogee Therapeutics, Inc. profitable?
No, Apogee Therapeutics, Inc. (APGE) reported a net income of -$255.8M in fiscal year 2025.
What is Apogee Therapeutics, Inc.'s EBITDA?
Apogee Therapeutics, Inc. (APGE) had EBITDA of -$284.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Apogee Therapeutics, Inc.'s return on equity (ROE)?
Apogee Therapeutics, Inc. (APGE) has a return on equity of -28.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Apogee Therapeutics, Inc.'s free cash flow?
Apogee Therapeutics, Inc. (APGE) recorded an outflow of $232.6M in free cash flow during fiscal year 2025. This represents a -35.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Apogee Therapeutics, Inc.'s operating cash flow?
Apogee Therapeutics, Inc. (APGE) recorded an outflow of $227.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Apogee Therapeutics, Inc.'s total assets?
Apogee Therapeutics, Inc. (APGE) had $937.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Apogee Therapeutics, Inc.'s capital expenditures?
Apogee Therapeutics, Inc. (APGE) invested $5.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Apogee Therapeutics, Inc. spend on research and development?
Apogee Therapeutics, Inc. (APGE) invested $214.7M in research and development during fiscal year 2025.
What is Apogee Therapeutics, Inc.'s current ratio?
Apogee Therapeutics, Inc. (APGE) had a current ratio of 26.57 as of fiscal year 2025, which is generally considered healthy.
What is Apogee Therapeutics, Inc.'s debt-to-equity ratio?
Apogee Therapeutics, Inc. (APGE) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Apogee Therapeutics, Inc.'s return on assets (ROA)?
Apogee Therapeutics, Inc. (APGE) had a return on assets of -27.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Apogee Therapeutics, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Apogee Therapeutics, Inc. (APGE) held $902.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $227.4M over that year. Dividing the one by the other, the reported balance equals about 48 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Apogee Therapeutics, Inc.'s Piotroski F-Score?
Apogee Therapeutics, Inc. (APGE) has a Piotroski F-Score of 2 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Apogee Therapeutics, Inc.'s earnings high quality?
Apogee Therapeutics, Inc. (APGE) reported a net loss of $255.8M while operations used $227.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.