TakeoverPE & activists

CLYMClimb Bio, Inc.

Pharmaceutical Preparations · $589M market cap · 70,000 employees

0.8×

Less likely than average to be taken private

Top 22% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

3of 15 firedHow well they predict deals →
12 other checks
  • 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
    89% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    —
    Bottom quartile of its SIC industry
  • Net cashNo
    —
    More cash than debt, positive EBITDA
  • Recurring revenueNo
    0 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    0 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Net insider sellingNo
    −$2M net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Jun 4, 2024DEFM14ATenet Medicines, Inc.$3.8415.4%
May 17, 2024PREM14AEliem Therapeutics, Inc.$3.8415.4%

Key numbers

Revenue
—
Operating margin
—
EBITDA
−$68MFY2021: −$36MFY2022: −$45MFY2023: −$40MFY2024: −$82MFY2025: −$68M
17% YoY
Net debt / EBITDA
—

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Operating income−$36M−$45M−$40M−$82M−$68M 17% FY2021: −$36MFY2022: −$45MFY2023: −$40MFY2024: −$82MFY2025: −$68M
Net income−$47M−$45M−$35M−$74M−$60M 19% FY2021: −$47MFY2022: −$45MFY2023: −$35MFY2024: −$74MFY2025: −$60M
Operating cash flow−$36M−$37M−$21M−$16M−$54M 249% FY2021: −$36MFY2022: −$37MFY2023: −$21MFY2024: −$16MFY2025: −$54M
Capex——$0$0$186KFY2023: $0FY2024: $0FY2025: $186K
Stock-based comp$4M$7M$13M$6M$8M 45% FY2021: $4MFY2022: $7MFY2023: $13MFY2024: $6MFY2025: $8M

13D filers

FiledFilerFormStakeIntent
Jul 7, 2026RA CAPITAL MANAGEMENT, L.P.SCHEDULE 13D/A33.0%Passive
Apr 29, 2026RA CAPITAL MANAGEMENT, L.P.SCHEDULE 13D/A33.0%Active
Dec 15, 2025RA CAPITAL MANAGEMENT, L.P.SCHEDULE 13D/A33.0%Active
Oct 16, 2025AI ETI LLCSCHEDULE 13D/A0.0%Passive
Oct 7, 2025AI ETI LLCSCHEDULE 13D/A5.7%Passive
Aug 16, 2024AI ETI LLCSC 13D/A7.5%Passive
Jul 1, 2024RA CAPITAL MANAGEMENT, L.P.SC 13D/A47.1%Active
Jun 6, 2024RA CAPITAL MANAGEMENT, L.P.SC 13D/A44.3%Active
May 17, 2024AI ETI LLCSC 13D/A17.2%Passive
May 17, 2024RA CAPITAL MANAGEMENT, L.P.SC 13D/A45.3%Active

Insider trading

−$2Mnet selling by insiders, open market, last 12 months
Bought $780K · 3 tradesSold $3M · 6 trades

Pay vs performance

No pay-versus-performance disclosure yet.