C
Centessa Pharmaceuticals plc
CNTACIK 0001847903NasdaqEmerging GrowthPharmaceutical PreparationsX0GBFY ends Dec 31
Period
FY 2025
Revenue
$15.00M
Net Income
$-197.53M
Total Assets
$687.50M
Equity
$526.86M
Shares Out
154.57M
Op. Cash Flow
$-193.82M
Business
Centessa Pharmaceuticals plc is a clinical-stage biopharmaceutical company focused on discovering and developing transformative medicines. The company’s main offerings include a portfolio of orally administered, highly selective orexin receptor 2 (OX2R) agonist product candidates (including ORX750, ORX142 and ORX489) and early-stage immuno-oncology assets built on its LockBody® technology platform. Its key business segments comprise its OX2R agonist clinical development program and LockBody research and licensing activities. Centessa conducts clinical trials, relies on contract manufacturers and pursues partnerships to develop and potentially commercialize products in the United States, Europe, the United Kingdom and other global markets.
Summary from filing dated 2025-03-24
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| License and other revenue | 15 | 0 | 7 | 0 | — | |
| Research and development | 172 | 150 | 124 | 155 | 96 | |
| General and administrative | 50 | 51 | 54 | 55 | 43 | |
| Loss from operations | −208 | −201 | −171 | −212 | −374 | |
| Interest income | 21 | 14 | 10 | — | — | |
| Interest expense | −11 | −10 | −10 | — | — | |
| Loss on extinguishment of debt | 0 | −34 | 0 | — | — | |
| Other non-operating income (expense), net | 3 | −2 | −5 | 2 | −4 | |
| Loss before income taxes | −196 | −233 | −176 | −217 | −381 | |
| Income tax expense | 2 | 3 | −25 | −747,000 | 114,000 | |
| Net loss | −198 | −236 | −151 | −216 | −381 | |
| Foreign currency translation adjustments | 1 | 1 | 2 | −2 | 778,000 | |
| Unrealized gain on available for sale securities, net of tax of $0.1 million in 2025 and $0.8 million in 2024 | 243,000 | 3 | — | — | — | |
| Reclassification adjustment for realized net gain on available for sale marketable securities included in net loss, net of tax of $0.8 million in 2025 and $0.4 million in 2024 | −3 | −1 | — | — | — | |
| Other comprehensive (loss) income | −1 | 3 | 3 | — | — | |
| Total comprehensive (loss) income | −199 | −233 | −148 | −218 | −380 | |
| Net loss per ordinary share - basic (in dollars per share) | −1.46 | −2.06 | −1.57 | −2.31 | −5.07 | |
| Net loss per ordinary share - diluted (in dollars per share) | −1.46 | −2.06 | −1.57 | −2.31 | −5.07 | |
| Weighted average ordinary shares outstanding - basic (in shares) | 136 | 114 | 96 | 93 | 75 | |
| Weighted average ordinary shares outstanding - diluted (in shares) | 136 | 114 | 96 | 93 | 75 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 61 | 383 | 128 | 394 | 595 | |
| Short-term investments | 233 | 99 | 129 | 0 | — | |
| Tax incentive receivable | 54 | 44 | 38 | 24 | 15 | |
| Prepaid expenses and other current assets | 19 | 10 | 21 | 20 | 18 | |
| Total current assets | 368 | 536 | 315 | 438 | 629 | |
| Long-term investments | 283 | 0 | — | — | — | |
| Property and equipment, net | 807,000 | 744,000 | 1 | 1 | 162,000 | |
| Operating lease right-of-use assets | 10 | 11 | 12 | 0 | — | |
| Deferred tax asset | 25 | 27 | 30 | 4 | — | |
| Other non-current assets | 1 | 2 | 3 | 2 | 699,000 | |
| Total assets | 687 | 577 | 360 | 444 | 630 | |
| Accounts payable | 8 | 7 | 12 | 14 | 8 | |
| Accrued expenses and other current liabilities | 35 | 51 | 28 | 25 | 17 | |
| Total current liabilities | 43 | 58 | 39 | 38 | 25 | |
| Long term debt (Note 6) | 110 | 109 | 76 | 70 | 76 | |
| Operating lease liabilities | 8 | 8 | 9 | 0 | — | |
| Other noncurrent liabilities | 29,000 | 29,000 | 29,000 | 0 | 43,000 | |
| Total liabilities | 161 | 175 | 124 | 108 | 138 | |
| Commitments and contingencies (Note 7) | — | — | — | — | — | |
| Ordinary shares: 0.002 nominal value: 184,469,623 shares authorized; 149,228,068 shares issued and outstanding at December 31, 2025 and 132,631,587shares issued and outstanding at December 31, 2024 | 405,000 | 359,000 | 273,000 | 265,000 | 252,000 | |
| Additional paid-in capital | 1,710 | 1,386 | 987 | 939 | 876 | |
| Accumulated other comprehensive income | 3 | 4 | 1 | −1 | 688,000 | |
| Accumulated deficit | −1,200 | −989 | −753 | −602 | −386 | |
| Total shareholders equity | 527 | 402 | 236 | 336 | 492 | |
| Total liabilities and shareholders equity | 687 | 577 | 360 | 444 | 630 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Share-based compensation expense | 31 | 34 | 29 | 25 | 15 | |
| Depreciation and amortization | 921,000 | 942,000 | 810,000 | 131,000 | 34,000 | |
| Amortization of discount of marketable securities | −2 | 0 | — | — | — | |
| Change in fair value of financial instruments | 0 | 300,000 | 6 | — | — | |
| Amortization of debt issuance costs and exit fee of long-term debt | 1 | 0 | — | — | — | |
| Change in deferred taxes | 3 | 3 | −27 | −3 | — | |
| Tax incentive receivable | −7 | −7 | −12 | −12 | −7 | |
| Prepaid expenses and other assets | −8 | 10 | −1 | −4 | −16 | |
| Operating leases, net | 253,000 | 298,000 | −2 | 0 | — | |
| Accounts payable | 50,000 | −5 | −3 | 6 | 4 | |
| Accrued expenses and other liabilities | −15 | 23 | −797,000 | 6 | 13 | |
| Other, net | −8,000 | 62,000 | 28,000 | 173,000 | 676,000 | |
| Net cash used in operating activities | −194 | −142 | −160 | −201 | −135 | |
| Purchases of investments in marketable securities | −740 | −141 | −265 | 0 | — | |
| Proceeds from maturities of investments in marketable securities | 322 | 172 | 138 | 0 | — | |
| Purchase of property and equipment | −371,000 | −34,000 | −169,000 | −1 | −186,000 | |
| Net cash provided by (used in) investing activities | −419 | 31 | −127 | −931,000 | 63 | |
| Repayment of debt | 0 | −110 | 0 | — | — | |
| Proceeds from issuance of debt, net of issuance costs | 0 | 109 | 0 | 0 | 74 | |
| Payment of employee withholding taxes related to withheld shares for stock based compensation plans | −5 | −5 | — | — | — | |
| Proceeds from option exercises | 21 | 11 | 310,000 | 718,000 | 779,000 | |
| Other, net | −401,000 | 0 | 0 | −261,000 | −295,000 | |
| Net cash provided by financing activities | 292 | 365 | 21 | 457,000 | 660 | |
| Effect of exchange rate on cash, cash equivalents, and restricted cash | −448,000 | 1 | 615,000 | −418,000 | 2 | |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | −321 | 255 | −266 | −201 | 590 | |
| Interest paid | 9 | 10 | 10 | 7 | 1 | |
| Income taxes paid | 1 | 82,000 | 3 | 1 | 0 | |
| Operating lease payments reducing operating lease liabilities | 2 | 2 | 1 | 0 | — |
Filings
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