AURAAura Biosciences, Inc.

Biological Products, (no Diagnostic Substances)

Revenue: —
Operating margin: —
EBITDA: −$112M; 18% YoY
Market cap: $635M
Employees: 113
Net debt / EBITDA: —
AI in 10-K: 3.0; mentions per 10K words

Takeover score 2 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCNo
—
Over 10% of revenue
Payouts exceed cash flowNo
0% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
—
Over 40% of assets
Shareholder dissentNo
—
Any vote under 80% support

Buyer economics 1 of 4

Low revenue per employeeNo
—
Bottom quartile of its SIC industry
Quiet on AINo
3.0 per 10K words · 69th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedYes
$635M market cap
Market cap $500M–$5B

Catalysts 1 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingYes
−$40M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Operating income	−$35M	−$60M	−$85M	−$96M	−$113M	17%
Net income	−$35M	−$59M	−$76M	−$87M	−$106M	22%
Operating cash flow	−$32M	−$55M	−$64M	−$80M	−$85M	6.2%
Capex	$2M	$1M	$709K	$1M	$447K	64%
Stock-based comp	$2M	$6M	$9M	$12M	$14M	22%

Deal filings

None.

13D filers

Filed	Filer	Form	Stake	Intent
May 11, 2026	Matrix Capital Management Company, LP	SCHEDULE 13D/A	0.0%	Passive
May 19, 2025	Matrix Capital Management Company, LP	SCHEDULE 13D/A	22.3%	Passive
Nov 9, 2023	Matrix Capital Management Company, LP	SC 13D/A	14.1%	Passive
Dec 7, 2022	Matrix Capital Management Company, LP	SC 13D/A	14.5%	Passive
Nov 10, 2021	Medicxi Growth I LP	SC 13D	10.7%	Passive
Nov 4, 2021	Matrix Capital Management Company, LP	SC 13D	14.5%	Active

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $40M · 11
Net: −$40M

Pay vs performance

No pay-versus-performance disclosure yet.