LONA on Nasdaq

LeonaBio, Inc.

Biological products company, listed on Nasdaq (LONA).

Price unavailable

Last updated Oct 18, 2026.

Overview

-$105.6MNet income, fiscal 2025²

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TickerLONA on Nasdaq
IndustryBiological Products, (No Diagnostic Substances)
Business address18706 North Creek Parkway, Suite 104, Bothell, Wa 98011³
Filer categoryNon-accelerated filer, Smaller reporting company³

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-380.0%Return on equity²

Financial statements

Operating income⁴⁵⁶⁷⁸²-$102.3M in 2025+1777% since 2019

Net income⁴⁵⁶⁷⁸²-$105.6M in 2025+1946% since 2019

Every line of the income statement as filed: the last 2 fiscal years, latest first.²

Period ending	2025-12-31	2024-12-31
Research and development	$17.5M	$70.7M
Acquired in-process research and development	$68.1M
General and administrative	$16.7M	$26.1M
Legal expense		$4.1M
Total operating expenses	$102.3M	$100.9M
Loss from operations	-$102.3M	-$100.9M
Other income, net	$1.2M	$4.0M
Sermonix pre-funded warrant change in fair value	-$4.6M
Net loss	-$105.6M	-$96.9M
Unrealized (loss) gain on available-for-sale securities	-$5.0K	$350.0K
Comprehensive loss attributable to common stockholders	-$105.6M	-$96.6M
Net loss per share attributable to common stockholders, basic	-$24.70	-$25.19
Net loss per share attributable to common stockholders, diluted	-$24.70	-$25.19
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic	4.3M shares	3.8M shares
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted	4.3M shares	3.8M shares

Total assets⁴⁵⁶⁷⁸²$92.2M in 2025+4110% since 2019

Total liabilities⁴⁵⁶⁷⁸²$64.4M in 2025+1224% since 2019

Shareholders’ equity⁴⁵⁶⁷⁸²$27.8M in 2025

Cash⁴⁵⁶⁷⁸²$69.3M in 2025+3269% since 2019

Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.²

Period ending	2025-12-31	2025-09-30	2024-12-31	2023-12-31
Cash and cash equivalents	$69.3M		$48.4M
Short-term investments	$19.1M		$2.8M
Prepaid expenses and other current assets	$1.1M		$3.6M
Total current assets	$89.5M		$54.8M
Restricted cash	$631.0K		$631.0K
Property and equipment, net	$1.5M		$2.4M
Operating lease right-of-use asset	$535.0K		$808.0K
Other long-term assets	$55.0K		$55.0K
Total assets	$92.2M		$58.8M
Accounts payable	$4.6M		$319.0K
Accrued liabilities	$5.0M		$12.4M
Sermonix pre-funded warrant	$37.5M
Current operating lease liability	$465.0K		$414.0K
Total current liabilities	$47.5M		$13.1M
Operating lease liability, less current portion	$338.0K		$803.0K
Milestone Liabilities	$15.1M
Other long-term liabilities	$1.4M
Total liabilities	$64.4M		$13.9M
Common stock, $0.0001 par value; 90,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively; 9,335,913 and 3,904,049 shares issued and outstanding at December 31,2025 and December 31,2024, respectively	$1.0K		$0
Additional paid-in capital	$539.5M		$451.0M
Accumulated other comprehensive (loss) income	-$4.0K		$1.0K
Accumulated deficit	-$511.8M		-$406.1M
Total stockholders' equity	$27.8M		$44.8M	$130.2M
Total liabilities and stockholders' equity	$92.2M		$58.8M
Common stock, par value	$0.00		$0.00
Common stock, shares authorized	90.0M shares	90.0M shares	90.0M shares
Common stock, shares issued	9.3M shares		3.9M shares
Common stock, shares outstanding	9.3M shares		3.9M shares
Reverse stock split ratio		0 pure

Period ending	2025-12-31	2025-09-30	2024-12-31	2023-12-31
Cash and cash equivalents	$69.3M		$48.4M
Short-term investments	$19.1M		$2.8M
Prepaid expenses and other current assets	$1.1M		$3.6M
Total current assets	$89.5M		$54.8M
Restricted cash	$631.0K		$631.0K
Property and equipment, net	$1.5M		$2.4M
Operating lease right-of-use asset	$535.0K		$808.0K
Other long-term assets	$55.0K		$55.0K
Total assets	$92.2M		$58.8M
Accounts payable	$4.6M		$319.0K
Accrued liabilities	$5.0M		$12.4M
Sermonix pre-funded warrant	$37.5M
Current operating lease liability	$465.0K		$414.0K
Total current liabilities	$47.5M		$13.1M
Operating lease liability, less current portion	$338.0K		$803.0K
Milestone Liabilities	$15.1M
Other long-term liabilities	$1.4M
Total liabilities	$64.4M		$13.9M
Common stock, $0.0001 par value; 90,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively; 9,335,913 and 3,904,049 shares issued and outstanding at December 31,2025 and December 31,2024, respectively	$1.0K		$0
Additional paid-in capital	$539.5M		$451.0M
Accumulated other comprehensive (loss) income	-$4.0K		$1.0K
Accumulated deficit	-$511.8M		-$406.1M
Total stockholders' equity	$27.8M		$44.8M	$130.2M
Total liabilities and stockholders' equity	$92.2M		$58.8M
Common stock, par value	$0.00		$0.00
Common stock, shares authorized	90.0M shares	90.0M shares	90.0M shares
Common stock, shares issued	9.3M shares		3.9M shares
Common stock, shares outstanding	9.3M shares		3.9M shares
Reverse stock split ratio		0 pure

Cash from operations⁴⁵⁶⁷⁸²-$45.7M in 2025+1132% since 2019

Capital spending⁵⁶⁷⁸²$33.0K in 2024−99% since 2020

Free cash flow⁵⁶⁷⁸²-$97.2M in 2024+268% since 2020

Every line of the cash flow as filed: the last 2 fiscal years, latest first.²

Period ending	2025-12-31	2024-12-31
Net loss	-$105.6M	-$96.9M
Non-cash consideration for acquired in-process research and development	$67.7M
Change in fair value of Sermonix pre-funded warrant	$4.6M
Stock-based compensation	$6.1M	$11.0M
Depreciation expense	$972.0K	$970.0K
Non-cash lease expense	$273.0K	$241.0K
Amortization of premiums and accretion of discounts on available-for-sale securities, net	-$329.0K	-$515.0K
Loss on disposal of equipment		$7.0K
Prepaid expenses and other current and long-term assets, net	$2.4M	$2.5M
Insurance recovery receivable related to legal settlement		$1.6M
Accounts payable and accrued liabilities	-$21.3M	-$5.8M
Accrued legal settlement		-$10.0M
Operating lease liability	-$414.0K	-$368.0K
Other long-term liabilities	-$59.0K
Net cash used in operating activities	-$45.7M	-$97.2M
Purchases of available-for-sale securities	-$37.6M	-$14.1M
Maturities of available-for-sale securities	$21.7M	$69.0M
Purchases of property and equipment		-$33.0K
Net cash (used in) provided by investing activities	-$15.9M	$54.8M
Proceeds from exercise of common stock options and issuance of common stock under employee stock purchase plan.	$37.0K	$194.0K
Proceeds from PIPE financing	$90.0M
Issuance costs from PIPE financing	-$7.6M
Net cash provided by financing activities	$82.5M	$194.0K
Net increase (decrease) in cash, cash equivalents and restricted cash	$20.8M	-$42.1M

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Leadership

Who has led LeonaBio, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

President

Chief financial officer

Chief operating officer

2025

Chief executive officerMark James Litton Jan 31, 2022 to now¹¹
Chief executive officerLeen Kawas Sep 17, 2020 to Feb 22, 2021¹²
PresidentMark James Litton Sep 5, 2024 to now¹³
PresidentLeen Kawas Sep 17, 2020 to Feb 22, 2021¹²
Chief financial officerRobert Renninger Dec 29, 2025 to now¹⁴
Chief financial officerAndrew Gengos Feb 16, 2024 to Sep 5, 2024¹⁵
Chief financial officerGlenna Mileson Sep 17, 2020 to Jan 23, 2023¹⁶
Chief operating officerRachel Lenington Nov 5, 2021 to Sep 5, 2024¹⁷
Chief operating officerMark James Litton Sep 17, 2020 to Aug 19, 2021¹⁸

Board members and other officers (19)

CHIEF MEDICAL OFFICERMartin Javier San Apr 16, 2024 to now¹⁹
VP of FinanceRobert Renninger Oct 3, 2024 to now²⁰
See BelowAndrew Gengos May 22, 2023 to Jan 8, 2024²¹
Chief Technology OfficerRachel Lenington Jun 14, 2021 to Jun 14, 2021²²
Chief Medical OfficerHans Moebius Sep 17, 2020 to Jan 8, 2024²³
Vice President of DiscoveryKevin Church Sep 17, 2020 to now²⁴
Board memberFred Callori May 7, 2026 to now²⁵
Board memberNatalie C. Holles May 7, 2026 to now²⁶
Board memberPeter B. Silverman May 7, 2026 to now²⁷
Board memberGrant Pickering Jan 31, 2022 to now²⁸
Board memberMark James Litton Jan 31, 2022 to now¹¹
Board memberMichael A. Panzara Mar 21, 2022 to now²⁹
Board memberBarbara Kosacz Mar 8, 2021 to now³⁰
Board memberJoseph Edelman Sep 17, 2020 to now³¹
Board memberLeen Kawas Sep 17, 2020 to Feb 22, 2021¹²
Board memberTadataka Yamada Sep 17, 2020 to Jun 1, 2021³²
Board memberJohn M. Fluke Jr. Sep 18, 2020 to now³³
Board memberKelly A. Romano Dec 14, 2020 to now³⁴
General counselMark Worthington Jun 1, 2021 to now³⁵

Former names

Athira Pharma, Inc.Sep 19, 2019 to Jan 8, 2026³
M3 Biotechnology, Inc.Oct 3, 2014 to Jan 23, 2019³

Timeline

Jan 31, 2022New chief executive Mark James Litton becomes CEO¹¹
Sep 17, 2020New chief executive Leen Kawas becomes CEO¹²

Filings

358 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 48 major events, 168 insider forms, 33 large holders, 88 other. The latest 20:

Sep 22, 20268-K EDGAR
Sep 3, 20263 PRIMARY DOCUMENT EDGAR
Aug 31, 2026SCHEDULE 13D EDGAR
Aug 26, 20268-K EDGAR
Aug 25, 2026SCHEDULE 13D/A EDGAR
Aug 20, 2026SCHEDULE 13G/A EDGAR
Aug 14, 202610-Q EDGAR
Aug 14, 20268-K EDGAR
Jul 10, 20264 EDGAR
Jul 9, 20264 EDGAR
Jun 24, 20264 EDGAR
Jun 24, 20264 EDGAR
Jun 24, 20264 EDGAR
Jun 24, 20264 EDGAR
Jun 24, 20264 EDGAR
Jun 24, 20264 EDGAR
Jun 24, 20264 EDGAR
Jun 24, 20264 EDGAR
Jun 24, 20264 EDGAR
Jun 23, 20268-K EDGAR

The 358 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 33 such filings since October 2021, the latest 10:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 44. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
Perceptive Advisors LLC	1,859,322	$17.1M	0.3%	No change
Kalehua Capital Management LLC	787,402	$7.2M	2.3%	No change
ADAR1 Capital Management, LLC	777,100	$7.1M	0.3%	+49,619
Acorn Capital Advisors, LLC	634,539	$5.8M	1.6%	No change
NEA Management Company, LLC	464,398	$4.3M	0.3%	No change
Commodore Capital LP	464,398	$4.3M	0.3%	No change
TCG Crossover Management, LLC	464,398	$4.3M	0.1%	No change
Spruce Street Capital LP	393,701	$3.6M	0.7%	No change
Blackstone Inc.	324,638	$3.0M	0.0%	New
Adage Capital Partners Gp, L.l.c.	300,000	$2.8M	0.0%	New
Vanguard Capital Management LLC	275,233	$2.5M	0.0%	+80,473
Seven Fleet Capital Management LP	154,153	$1.4M	0.2%	−10,523
Simplify Asset Management Inc.	149,279	$1.4M	0.0%	No change
Propel Bio Management, LLC	149,279	$1.4M	0.7%	No change
Geode Capital Management, LLC	80,418	$739.5K	0.0%	+95
BlackRock, Inc.	79,186	$727.7K	0.0%	+23,135
Renaissance Technologies LLC	77,424	$711.5K	0.0%	+13,202
Vanguard Fiduciary Trust Co	42,814	$393.5K	0.0%	+2,775
Bank Of America Corp /de/	32,557	$299.2K	0.0%	−9
Millennium Management LLC	32,450	$298.2K	0.0%	+772
Laird Norton Wetherby Trust Company, LLC	21,818	$200.5K	0.0%	No change
State Street Corp	16,337	$150.1K	0.0%	No change
Dimensional Fund Advisors LP	14,728	$135.4K	0.0%	New
Northern Trust Corp	14,394	$132.3K	0.0%	No change
Two Sigma Investments, LP	13,276	$122.0K	0.0%	No change

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARLeonaBio, Inc. filings on SEC EDGAR
2
SEC EDGARLeonaBio, Inc. 10-K for fiscal 2025
3
SEC EDGARLeonaBio, Inc. filings on SEC EDGAR
4
SEC EDGARLeonaBio, Inc. 10-K for fiscal 2019
5
SEC EDGARLeonaBio, Inc. 10-K for fiscal 2020
6
SEC EDGARLeonaBio, Inc. 10-K for fiscal 2021
7
SEC EDGARLeonaBio, Inc. 10-K for fiscal 2022
8
SEC EDGARLeonaBio, Inc. 10-K for fiscal 2023
9
SEC EDGARLeonaBio, Inc. 10-Q for fiscal 2026
10
SEC EDGARLeonaBio, Inc. 10-Q for fiscal 2026
11
SEC EDGARMark James Litton, Chief executive officer
12
SEC EDGARLeen Kawas, Chief executive officer
13
SEC EDGARMark James Litton, President
14
SEC EDGARRobert Renninger, Chief financial officer
15
SEC EDGARAndrew Gengos, Chief financial officer
16
SEC EDGARGlenna Mileson, Chief financial officer
17
SEC EDGARRachel Lenington, Chief operating officer
18
SEC EDGARMark James Litton, Chief operating officer
19
SEC EDGARMartin Javier San, CHIEF MEDICAL OFFICER
20
SEC EDGARRobert Renninger, VP of Finance
21
SEC EDGARAndrew Gengos, See Below
22
SEC EDGARRachel Lenington, Chief Technology Officer
23
SEC EDGARHans Moebius, Chief Medical Officer
24
SEC EDGARKevin Church, Vice President of Discovery
25
SEC EDGARFred Callori, Board member
26
SEC EDGARNatalie C. Holles, Board member
27
SEC EDGARPeter B. Silverman, Board member
28
SEC EDGARGrant Pickering, Board member
29
SEC EDGARMichael A. Panzara, Board member
30
SEC EDGARBarbara Kosacz, Board member
31
SEC EDGARJoseph Edelman, Board member
32
SEC EDGARTadataka Yamada, Board member
33
SEC EDGARJohn M. Fluke Jr., Board member
34
SEC EDGARKelly A. Romano, Board member
35
SEC EDGARMark Worthington, General counsel