The company reports zero revenue across all periods, with R&D expenses averaging $11.9M per quarter driving consistent operating losses that have recently stabilized around $17M.
Contineum Therapeutics, Inc. (CTNM) annual income statement — 5-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 50M | 0 | 0 |
| Revenue Growth % | - | - | -100% | - | - | - |
| Cost of Goods Sold | 0 | 0 | 258K | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - |
| Gross Profit | 0 | 0 | -258K | 50M | 0 | 0 |
| Gross Margin % | - | - | - | 100% | - | - |
| Gross Profit Growth % | - | 100% | -100.52% | - | - | - |
| Operating Expenses | 66.38M | 68.06M | 50.64M | 66.08M | 22.72M | 28.65M |
| OpEx % of Revenue | - | - | - | 132.15% | - | - |
| Selling, General & Admin | 18.28M | 16.54M | 12.47M | 6.32M | 5.83M | 6.29M |
| SG&A % of Revenue | - | - | - | 12.64% | - | - |
| Research & Development | 48.1M | 51.52M | 38.16M | 27.6M | 16.89M | 22.36M |
| R&D % of Revenue | - | - | - | 55.21% | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 32.15M | 0 | -91K |
| Operating Income | -66.38M | -68.06M | -50.89M | -16.08M | -22.72M | -28.65M |
| Operating Margin % | - | - | - | -32.15% | - | - |
| Operating Income Growth % | - | -33.73% | -216.56% | 29.24% | 20.69% | - |
| EBITDA | -66M | -67.74M | -50.64M | -15.88M | -22.39M | -28.32M |
| EBITDA Margin % | - | - | - | -31.76% | - | - |
| EBITDA Growth % | -283.07% | -33.77% | -218.83% | 29.07% | 20.94% | - |
| D&A (Non-Cash Add-back) | 383K | 323K | 258K | 195K | 329K | 325K |
| EBIT | -64.24M | -59.98M | -42.26M | 23.38M | -23.86M | -28.67M |
| Net Interest Income | 8.81M | 8.25M | 8.9M | 4.4M | 373K | -255K |
| Interest Income | 8.81M | 8.25M | 8.9M | 4.61M | 761K | 77K |
| Interest Expense | 0 | 0 | 0 | 208K | 388K | 332K |
| Other Income/Expense | 8.82M | 8.08M | 8.64M | 39.25M | -1.53M | -354K |
| Pretax Income | -57.56M | -59.98M | -42.26M | 23.17M | -24.25M | -29M |
| Pretax Margin % | - | - | - | 46.34% | - | - |
| Income Tax | 0 | 0 | 0 | 450K | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 1.94% | 0% | 0% |
| Net Income | -57.56M | -59.98M | -42.26M | 22.72M | -24.25M | -29M |
| Net Margin % | - | - | - | 45.44% | - | - |
| Net Income Growth % | -1.22% | -41.93% | -285.99% | 193.68% | 16.37% | - |
| Net Income (Continuing) | -57.56M | -59.98M | -42.26M | 22.72M | -24.25M | -29M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.54 | -2.17 | -1.63 | 0.13 | -0.97 | -1.15 |
| EPS Growth % | 21.36% | -33.13% | -1353.85% | 113.4% | 15.65% | - |
| EPS (Basic) | - | -2.17 | -1.63 | 0.13 | -0.97 | -1.15 |
| Diluted Shares Outstanding | 37.47M | 27.7M | 25.85M | 25.13M | 25.13M | 25.13M |
| Basic Shares Outstanding | 37.47M | 27.7M | 25.85M | 25.13M | 25.13M | 25.13M |
| Dividend Payout Ratio | - | - | - | - | - | - |
Quick answers to the most common questions about buying CTNM stock.
For fiscal year 2025, Contineum Therapeutics, Inc. (CTNM) reported total revenue of $0.0M.
Contineum Therapeutics, Inc. (CTNM) reported a net loss of $60.0M for the fiscal year ending 2025.
Key Metrics
Top Statement Risk
Pre-revenue cash burn sustainability
Metrics are mathematically derived from official filings.
Pre-Revenue Development Phase
Contineum Therapeutics reports zero revenue across all ten quarters, confirming its status as a clinical-stage biotechnology company entirely dependent on external financing for its research and development activities.
The complete absence of revenue is typical for a pre-commercial biotech firm and indicates that the company's value is derived entirely from the potential of its pipeline candidates. This trajectory necessitates continuous monitoring of cash reserves and the pace of clinical milestones, as the company's operational viability is contingent on securing future funding or achieving a partnership.
R&D Dominates Cost Structure
Research and development expenses constitute the overwhelming majority of operating costs, averaging approximately $11.9 million per quarter over the last ten periods, as reported in the company's financial statements.
The heavy weighting towards R&D is a strategic necessity for a clinical-stage company, but it also represents the primary driver of operating losses. SG&A expenses, while growing, remain a secondary cost center. The key analytical question is whether the R&D spend is efficiently advancing the pipeline towards value-inflecting data readouts or regulatory milestones.
Negative Operating Leverage
Operating losses have expanded from -$9.9M in 2024Q1 to -$17.4M in 2026Q2, indicating that operating expenses are scaling significantly faster than any potential revenue generation, which remains non-existent.
This negative operating leverage is inherent to the pre-revenue biotech model, where costs are incurred upfront to develop assets. The trend suggests that the company is in an intensive investment phase, with the magnitude of losses reflecting the stage and breadth of its clinical programs. Investors should assess whether the increasing cost base is proportionate to the perceived advancement of the pipeline.
Net Losses Driven by Core Operations
Net losses have consistently tracked operating losses, with stock-based compensation representing a significant non-cash component, averaging $2.8M per quarter and accounting for a substantial portion of the total loss.
The close correlation between operating and net losses indicates that the core business activity is the primary source of value erosion, with minimal non-operating distortions. The persistent and material stock-based compensation expense dilutes shareholder value and is a critical factor in assessing the true economic cost of the company's operations and its path to eventual profitability.
Q4 2024 Anomaly and Subsequent Reset
A singular $84.7M operating income in 2024Q4, likely from a one-time licensing or partnership event, starkly contrasts with the consistent operating losses in all other quarters, highlighting the non-recurring nature of that gain.
This inflection point does not represent a sustainable operational improvement but rather a non-recurring financial event that temporarily masked the underlying cash burn. The subsequent quarters show a return to the baseline loss trajectory, confirming that the company's core operations remain in a pre-revenue, investment-heavy phase. This event underscores the potential for value realization through strategic transactions.
Sustainability of Cash Burn
The company's quarterly operating losses have recently stabilized around $17M, but the complete lack of revenue means this burn rate is entirely funded by existing capital, raising questions about the timeline to a funding catalyst.
A short-seller would focus on the finite nature of the cash runway and the risk of dilutive financing if clinical milestones are delayed or missed. The analysis should scrutinize the remaining cash balance (not provided here) relative to the quarterly burn to estimate the months of operation remaining. The primary risk is that the company may need to raise capital under unfavorable terms before achieving a value-inflecting event.