Stock Ratings / Health Care / LONA / financials

IMA (19) TIL (39) CRBU (32) INMB (30) ⌘ Pro Terminal →

LeonaBio Inc. (LONA) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$4.94 +0.61% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $4.94

LeonaBio Inc. (LONA) carries a Roarable Rating of D- (Sell) with 35/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

📊 Historical Track Record Warning: Scores below 50 (35/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows →

ROARABLE D- • RED ALERT Cap $46.5M

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on LONA Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is LONA stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

▼

As of 2026-11-03, LeonaBio Inc. (NASDAQ: LONA) is rated D- (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 35/100 at a spot price of $4.94 (+0.61% 1D, market cap $46.5M). Pillar breakdown: Fundamental Cash Engine 9/20, Institutional 13F & Options Flow 3/20, Executive Insider Alignment 10/20, FRED Macro Regime Fit 8/20, and SEC Balance-Sheet Forensics 5/20. Across 1016 tracked Health Care issuers, LONA ranks #603 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does LONA compare to IMA and TIL in the Health Care sector?

▼

Within the Health Care sector (Biotechnology: Biological Products (No Diagnostic Substances)), LONA carries a Roarable D- (35/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, IMA (ImageneBio Inc.) holds a E grade (19/100 RQD, P/E N/A, ROIC -35.0%, cap $46.5M) and TIL (Instil Bio Inc.) posts a D- grade (39/100 RQD, P/E N/A, ROIC -35.0%, cap $46.1M). Among the 5-stock peer group, LONA leads on earnings multiple (N/A) while LONA leads on capital efficiency (-35.0% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for LONA?

▼

Per LONA's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001620463), LeonaBio Inc. generated $0 in revenue, -$106.0M in net income, and -$45.7M in free cash flow against $92.2M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $4.94 (-0.08%)🧬 Disciplined Float (+0.72% YoY Shares)⚙️ Cash Engine: 9/20 (D) • 0% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record Warning: Scores below 50 (35/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows (-8.5% avg 90D alpha vs SPY • 29.0% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERRED ALERT • D-

3-of-3 JEV AI Jury Bearish Warning

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw E · Rk D

Each axis scored 0–20

12M PRICE TARGET CONE-10.3% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for LONA)Realized 20D OHLCV Swing Band: ±12.5%

Deterministic 5-Pillar Attribution (35/100 Composite)

🔍 WHY LONA SCORES 35/100 (D-) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: SEC 10-K Forensic Risk+10/20 pts (29% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 2/9

▲ #2 Bullish Driver: Cash Engine Quality+9/20 pts (26% of score)

SEC XBRL FY 2025 (10-K): 0% FCF Margin ($0 FCF) & 52% Gross Margin

▼ #1 Drag / Risk Factor: Whale & Options Positioning4/20 pts (-16 pt drag)

Put hedging (50% put share) caps near-term gamma upside (-16 pts vs max)

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade D$6.43-18% Next Q

Q2 (-2Q)

Grade D$5.27-7.2% Next Q

Q3 (-1Q)

Grade E$4.89+1% Next Q

Current

Grade D-$4.94-8.5% Hist 90D α

Trajectory: D (43) → D- (35)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a LONA Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While LONA currently carries a cautious 35/100 (D-) rating due to Whale & Options Positioning (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Health Care with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($5.94) and Max Pain ($5.19) forces dealer call-delta covering toward $14.92.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Disciplined Float (+0.72% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $LONA• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “LONA Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”

YES 35%NO 65%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How LONA Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$0 (0% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $4.00B

FY24

Rev $4.00B

FY25

Rev $4.00B

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$4.00B	52%	-2.6%	-$106.0M	-$45.7M	-45%
FY 2024	$4.00B	52%	-2.5%	-$97.0M	-$97.2M	-45%
FY 2023	$4.00B	52%	-3.1%	-$117.7M	-$100.8M	-35%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring LONA)

✓Walkthrough of LONA's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

Want Custom AI PineScript / Python Indicators & Priority Rating-Change Alerts?

Join Founding VIP Waitlist (No Card Required) →$100K Arena

LONA // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -48.27%▼ DESCENDING CHANNEL

2026-11-03O $4.91H $4.94L $4.91C $4.94VOL 43.1K

RES: $6.41SUP: $0.22SMA50: $5.94SMA200: $7.50

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

LONA Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 LONA Butterfly Map → + Track LONA →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

8.0%/yr Implied 5Y Growth

vs. +6.0% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on LONA today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for LONA. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for LONA today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (LONA)

Health Care Rank #603 of 1016 ⚔️ IMA vs LONA Full Matrix →

1. Head-to-Head Health Care Peer Comparison (LONA vs. IMA, TIL, CRBU, INMB)

Industry: Biotechnology: Biological Products (No Diagnostic Substances) (156 Tracked Issuers)

Across 1016 tracked Health Care securities in the Roarable RQD universe, LeonaBio Inc. (LONA) ranks #603 by composite RQD confidence (35/100, grade D-) and #754 by equity capitalization ($46.5M). Within this direct 5-issuer industry benchmark cohort, LONA leads on earnings valuation at N/A trailing P/E, while LONA leads on capital efficiency and profitability with -35.0% ROIC and — gross margin. TIL currently holds the highest overall quantitative score in the immediate peer group at 39/100 (D-) compared with LONA at 35/100 (D-).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
LONA ACTIVE LeonaBio Inc.	D-	35/100	—	—	-35.0%	+0.61%	$46.5M	Benchmark Subject
IMA ImageneBio Inc.	E	19/100	—	—	-35.0%	+1.24%	$46.5M	/ima-vs-lona →
TIL Instil Bio Inc.	D-	39/100	—	—	-35.0%	-0.37%	$46.1M	/til-vs-lona →
CRBU Caribou Biosciences Inc.	E	32/100	—	—	-35.0%	-4.90%	$45.4M	/crbu-vs-lona →
INMB INmune Bio Inc.	E	30/100	—	—	-35.0%	-9.37%	$44.9M	/inmb-vs-lona →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001620463

In its most recent audited fiscal period (FY2025, filed 2025-12-31), LeonaBio Inc. (LONA) reported GAAP revenue of $0 (N/A vs. FY2024 revenue of $0 ) , GAAP net income of -$106.0M, operating cash flow of -$45.7M, and free cash flow of -$45.7M (+53.0% YoY). On the balance sheet, LONA closed FY2025 with $92.2M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 2/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$0	-$106.0M	-$45.7M	-$45.7M	$92.2M	—
FY2024 (FY)	2024-12-31	$0	-$97.0M	-$97.2M	-$97.2M	$58.8M	—
FY2023 (FY)	2023-12-31	$0	-$117.7M	-$100.8M	-$100.8M	—	—

3. LONA Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is LONA stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does LONA compare to IMA and TIL in the Health Care sector?

What are the biggest fundamental strengths and SEC risk factors for LONA?

Where is LONA trading relative to its 50-day, 200-day, and 52-week technical levels?

LONA last traded at $4.94 (+0.61% on volume of 43,072 shares), positioning the stock -16.84% below its 50-day simple moving average ($5.94) and -34.13% below its 200-day simple moving average ($7.50). Across its 52-week range of $2.21 to $14.21, LONA sits at the 22.8% percentile with a 14-day RSI of 43.9 (NEUTRAL RANGE) and an implied next-earnings move of ±12.5% ($4.32 to $5.56).

LONA Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS • SEC EDGAR × CBOE × FRED

How profitable is LeonaBio Inc. (LONA)?

In FY 2025 (10-K), LONA converted $4.0B of revenue into a 52% gross margin, 0% operating margin, and $0 in free cash flow (0% FCF margin).

Direct Sub-Reports: LONA RQD Cockpit LONA 12M Forecast LONA Earnings & Move LONA Dividends & DRIP LONA Insiders & 13F LONA Whale Options LONA Profit Sankey LONA News & Why

ROARABLE RATING BRIEF • RQD 35/100 (D-) ✓ STAGE-C NUMBER FIREWALL VERIFIED

LONA — LeonaBio Inc.: What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5

As of: 2026-11-02T15:47:12Z

Roarable Rating Brief: What This Means to a Prospective Investor

Per the Roarable RQD rating, LONA carries an RQD Score of 36 with a letter grade of D-, labeled "Roarable Sell — Vulnerable Balance Sheet & Flow." The five pillars are: Fundamental Cash Engine at 9/20 (ROIC -35%; FCF yield 0%); Whale 13F Flow at 3/20 (institutional accumulation and options positioning); Insider Conviction at 5/20 (SEC Form 4 and Congressional PTR cluster flow); Macro Regime Fit at 9/20 (Beta 1.0; sector sensitivity); and Forensic Balance Sheet at 10/20 (Altman Z 2.5; Piotroski F 2/9; Debt/Equity 0.5). For a prospective investor, the weakest pillars are the cash engine and institutional flow, which indicate that the company is not currently generating returns on invested capital or free cash flow, and that institutional positioning provides little support. The forensic balance sheet score is the strongest of the five, but still sits below the midpoint, and the Piotroski F-Score of 2/9 signals weak fundamental quality. Any upside thesis would need to rest on a change in cash generation or a shift in institutional behavior, neither of which the source data demonstrates.

Business

Per the source profile, LeonaBio Inc. is a NASDAQ-listed issuer in the Health Care sector, operating in the Biotechnology: Biological Products (No Diagnostic Substances) industry. Per the SEC financials, the company reported $0.0M in revenue in each of FY 2023, FY 2024, and FY 2025. Not available in source data for customer base or specific revenue model.

Financial Trend

Period	Revenue	Operating Income	Net Income	EPS	FCF	Cash	Debt
FY 2025	$0.0M	$-102.3M	$-106.0M	N/A	$-45.7M	$69.3M	N/A
FY 2024	$0.0M	$-100.9M	$-97.0M	N/A	$-97.2M	$48.4M	N/A
FY 2023	$0.0M	$-125.5M	$-117.7M	N/A	$-100.8M	N/A	N/A

Per the SEC financials, the company reported operating losses across all three periods and no reported revenue. Gross, operating, and net margins are each shown as 0% in the market data, and ROIC is -35%. Per the Roarable RQD rating, the Altman Z-Score is 2.5 and the Piotroski F-Score is 2/9, with a Debt/Equity ratio of 0.5. Per the SEC financials, reported cash was $69.3M at FY 2025 and $48.4M at FY 2024.

Recent Catalysts & News Wire Analysis

Per the news wire, a director of the company is reported to have acquired shares, with a headline citing a $9.92 billion figure, which appears inconsistent with the $46.3M market capitalization and should be treated as unverified.
Per the news wire, warrants were exercised at $0.001 per share by Sermonix, and a separate insider filing reports a share purchase and disposal of a warrant exercisable at $0.001.
Per the news wire, Perceptive Advisors executed 776,648 pre-funded warrants.
Per the news wire, LONA appeared in a list of quiet movers with no clear catalyst.
The Perceptive Advisors item is flagged RED under the "RISK WATCH" label; the remaining items are flagged YELLOW under "MARKET WIRE."
Per the Butterfly Supply-Chain Graph, no supply-chain links or proprietary signals are recorded.

Open Questions

What is the reported revenue model, and when, if ever, does the company expect to report revenue given $0.0M across the three periods?
What explains the gap between the $9.92 billion insider-purchase headline and the $46.3M market capitalization?
What are the warrant and pre-funded warrant terms, and what dilution do they imply relative to the share count?
What is the company's cash runway given $69.3M in cash against $-45.7M in FY 2025 free cash flow?
What is the basis for the Roarable RQD sub-scores, and which underlying holder and options data drove the 3/20 whale-flow score?

LONA Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for LeonaBio Inc. (LONA) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to LONA Debate Forum (3) ↓

🟡 MARKET WIRE Investing.com • 15h ago

Leonabio director David Portman acquires $9.92 billion in stock

Investing.com report covering LeonaBio Inc. (LONA) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Stock Titan • 18h ago

At $0.001 a share, Sermonix exercises warrants for LeonaBio (LONA) stock.

Stock Titan report covering LeonaBio Inc. (LONA) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE www.marketscreener.com • 21h ago

LeonaBio Insider Bought Shares Worth $9,919,161,281, According to a Recent SEC Filing

www.marketscreener.com report covering LeonaBio Inc. (LONA) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Stock Titan • 1d ago

An insider reports a LeonaBio (LONA) share purchase and disposal of a warrant exercisable at $0.001.

Stock Titan report covering LeonaBio Inc. (LONA) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE kalkine.ca • 1d ago

Which of Allot (NASDAQ:ALLT), Borr Drilling (NYSE:BORR), LeonaBio (NASDAQ:LONA), Avax One Technology (NASDAQ:AVX) or Basel Medical Group (NASDAQ:BMGL) Is the Best of the Quiet Movers With No Clear Catalyst?

kalkine.ca report covering LeonaBio Inc. (LONA) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔴 RISK WATCH Kalkine Media • 1d ago

Perceptive Advisors Executes 776,648 LeonaBio Pre-Funded Warrants, Reports Key Ownership Updates

Kalkine Media report covering LeonaBio Inc. (LONA) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Benzinga • 4d ago

12 Health Care Stocks Moving In Thursday's After-Market Session

Gainers iSpecimen (NASDAQ:ISPC) stock moved upwards by 16.1% to $0.92 during Thursday's after-market session. The company's market cap stands at $2.2 million. CareDx (NASDAQ:CDNA) stock rose 15.0% to $82.25.

Read Full Source ↗

🟡 MARKET WIRE Benzinga • 11d ago

12 Health Care Stocks Moving In Thursday's Intraday Session

Gainers Profusa (NASDAQ:PFSA) shares moved upwards by 35.4% to $1.15 during Thursday's regular session. Karyopharm Therapeutics (NASDAQ:KPTI) shares increased by 29.12% to $0.55. The company's market cap

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

LONA Bull vs. Bear Conversation Board — What's Your Call at $4.94?

🐂 33% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON LONA 🐻 67% BEARISH CONVICTION

RO RoarDesk_Moderator Roarable Research Desk 🐻 BEARISH 🎯 Target: $4.32 (-12.0%)

📌 Pinned Debate

🔥 Official Bull vs. Bear Debate: Is LONA (D- • RQD 36/100) a Buy at $4.91?

Welcome to the LONA (LeonaBio Inc.) Roar Pit. Current RQD Composite is 36/100 (Roarable Sell — Vulnerable Balance Sheet & Flow) in Biotechnology: Biological Products (No Diagnostic Substances). Bulls point to operating leverage and sector positioning, while bears focus on macro rate sensitivity and margin execution. Pick your side (🐂 Bull or 🐻 Bear) and drop your price target below.

SK SkepticalCFA Forensic Accounting Watch 🐻 BEARISH 🎯 Target: $3.73 (-24.0%)

Spot @ $4.91

Pump the brakes on LONA — check the valuation vs. margin headwinds

Everyone in here is repeating the bull case on LONA, but look at what you are paying: current EV/EBITDA multiples with tightening sector spreads. Unless LeonaBio Inc. expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.

MI MidwestValue Verified K Arena Trader 🐂 BULLISH 🎯 Target: $6.24 (+27.1%)

Spot @ $4.91

LONA cash flow & RQD setup is being underpriced by the Street here

Looking at the 5-pillar RQD breakdown on LONA, the market is fixating on short-term headline noise in Biotechnology: Biological Products (No Diagnostic Substances) and ignoring the balance sheet and cash flow trajectory. At $4.91 (52-wk range $2.21 - $14.21), any beat on forward guidance forces shorts and underweight funds to chase.