A company still losing money, with high risk. Insiders are buying.
Going well
No debt reported
Watch out for
About 5 months of cash left at its current burn
Share count growing 14.7% a year (dilution)
Losing money, losses are large next to sales
Money moves
2 insiders bought $1.7M of shares with their own money in the last 30 days
Institutions added 0.7% to their holdings in the quarter ending June 2026 (171 bought, 109 sold)
Held by Stanley Druckenmiller (Duquesne)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$35.77+1.2% that day
Latest insider buy: A CEO bought at $37.38 on Sep 30. The stock is now $35.77, -4.3% since.
Company value
$3.5B
Share price times all shares
Cash vs value
3%
Cash as a share of company value
From XENE's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26
$0
Sep '23Tap a barJun '26
Over 5 years, sales shrank about 25% a year.
What the price assumes
Your guesses, our math
Move the sliders to your own view of XENE. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$4M
Profit in 5 years$0M
Price these guesses point to$0.04-100% vs $35.77 todayAbout -74% a year, before dividends
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
1/6Weak
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-51.8%
PassDebt under half of equityNot relying on borrowed money.No debt reported
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.Losses many times its sales
MissProfitable every yearSteady profits, not one good year.0 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$279.9M
MissShare count not growingNot diluting owners. Falling means buybacks.+50.9% in 3 years
Revenue
$7.5M
5-year growth
-25.3%/yr
revenue, per year
Total debt
None
0.00x equity
Current ratio
13.42x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 6
Revenue
$0
EPS
-$1.11
vs -$1.07
Free cash flow
-$95.7M
Share count
+26.2%
vs a year ago
Insider rating
Last 90 days
93Strong buying
2 insiders bought $1.7M
Cluster buy: 2 insiders within 1 day
Top executive buying (Chief Financial Officer)
Ian Mortimer grew their stake 150.6%
New position opened
50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.
Weekly insider trend
13 weeks agoBoughtSoldThis week
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
1.0
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady+0.7%
Institutions added 0.7% to their holdings. 171 bought, 109 sold. 2 quarters of net buying in a row.
Shares held by institutions101.1M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+14.7%
Cash runwayAt last year's cash burn
5 months
Debt to equityLatest balance sheet: debt compared with what owners have
No debt reported
Shares outstandingLatest reported
97M
Why high risk
Losing money, losses are large next to sales
About 5 months of cash left at its current burn
Share count growing 14.7% a year (dilution)
Earnings reports
Last 12
Next reportIn 6 days (est.)Estimated from the same quarter last year
Results filedAug 6
Results filedMay 7
Results filedFeb 26
Results filedNov 3, 2025
Results filedAug 11, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days