Logo

PRQR

ProQR Therapeutics N.V.

PRQR

ProQR Therapeutics N.V. • NASDAQ
$2.34 ▼ -0.85% (-0.02)
Market Cap $246.51 M
52w High $3.92
52w Low $1.07
Dividend Yield 0%
P/E -4.87
Volume 205.85K
Outstanding Shares 105.35M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.915M ▼ $14.199M ▼ $-11.006M ▲ -377.564% ▼ $-0.1 ▲ $-10.335M ▲
Q2-2025 $3.817M ▼ $16.066M ▲ $-12.179M ▼ -319.073% ▼ $-0.12 ▼ $-11.574M ▼
Q1-2025 $4.519M ▲ $15.335M ▲ $-10.079M ▼ -223.036% ▼ $-0.1 ▲ $-10.138M ▼
Q4-2024 $4.307M ▲ $14.388M ▲ $-9.305M ▼ -216.044% ▼ $-0.11 ▼ $-5.821M ▲
Q3-2024 $3.843M $12.559M $-8.108M -210.981% $-0.099 $-8.166M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $106.883M ▼ $124.349M ▼ $67.278M ▼ $57.071M ▼
Q2-2025 $119.765M ▼ $137.537M ▼ $70.554M ▼ $66.983M ▼
Q1-2025 $143.034M ▼ $163.854M ▼ $78.589M ▼ $85.266M ▼
Q4-2024 $149.408M ▲ $167.958M ▲ $79.398M ▼ $88.56M ▲
Q3-2024 $89.401M $106.851M $81.869M $24.982M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-11.006M ▲ $-12.235M ▼ $-169K ▼ $-444K ▼ $-12.882M ▼ $-12.404M ▼
Q2-2025 $-12.179M ▼ $-11.401M ▲ $-101K ▲ $-293K ▲ $-12.649M ▲ $-11.502M ▲
Q1-2025 $-10.079M ▼ $-15.798M ▼ $-224K ▲ $-500K ▼ $-16.994M ▼ $-16.022M ▼
Q4-2024 $-9.305M ▼ $-9.348M ▼ $-2.788M ▼ $71.43M ▲ $60.007M ▲ $-9.481M ▼
Q3-2024 $-8.108M $-5.657M $16.714M $-453K $10.431M $-5.943M

Five-Year Company Overview

Income Statement

Income Statement ProQR looks like a classic early-stage biotech: almost no recurring product revenue yet and the income statement dominated by research and development and operating costs. Losses have been steady for several years but have clearly narrowed more recently, suggesting tighter cost control and benefit from collaboration income. Profitability is still far off and will depend almost entirely on future milestone payments and, much later, potential drug approvals. Until then, investors should view the income statement as an R&D spending profile rather than a traditional earnings engine.

Balance Sheet

Balance Sheet The balance sheet is lean but relatively clean. Cash makes up most of total assets, which is typical for a company at this stage and gives some flexibility to fund trials. Debt is modest compared with the cash position, limiting financial leverage risk. Equity has dipped and then rebuilt over time, reflecting ongoing losses offset by funding and partnership inflows. Overall, the company appears solvent but dependent on continued access to capital and collaboration support as its programs advance.

Cash Flow

Cash Flow Cash flow behavior highlights the development-stage nature of the business. Operating cash flow has swung between negative and positive, with the one positive year likely tied to a large partnership payment rather than ongoing operations. There is essentially no heavy investment in physical assets, so free cash flow closely tracks operating cash flow. This means future cash dynamics will be driven mainly by R&D spending pace, timing of external payments from partners, and any new financing, rather than by internal cash generation from products.

Competitive Edge

Competitive Edge Competitively, ProQR is a focused niche player in RNA editing, built around its Axiomer platform. Its main strengths are a sizable patent estate, early-mover know‑how in ADAR-based editing, and validation from a global pharma partnership. These provide a meaningful, though not unassailable, moat in a fast-evolving field. At the same time, ProQR remains small compared with larger RNA and gene-editing players, and faces scientific, regulatory, and competitive pressure from other RNA editing startups pursuing similar ideas. Its position will be defined over the next few years by how quickly and convincingly it can deliver clinical data versus peers.

Innovation and R&D

Innovation and R&D Innovation is the core of the story. ProQR is betting on Axiomer, a platform that edits RNA in a reversible way using the body’s own machinery, aiming for a potentially safer and more flexible approach than permanent DNA editing. The pipeline is still early, with lead programs in liver and cardiovascular disease and a collaborative effort in Rett syndrome. The Lilly alliance adds technical and financial support and validates the science to some extent. The flip side is concentration risk: much of the company’s future hinges on a single platform and a handful of clinical programs, where outcomes are uncertain and highly binary.

Summary

Overall, ProQR is a high-risk, research-driven platform company rather than a conventional operating business at this stage. Financials show limited revenue, ongoing but shrinking losses, and a balance sheet dominated by cash with manageable debt—appropriate for a clinical-stage biotech but clearly reliant on external funding and partnerships. Its real value proposition lies in the potential of the Axiomer RNA editing platform, protected by patents and supported by a major pharma partner, but still awaiting meaningful human data. The key themes to watch are: clinical results for the lead programs, evolution of the Lilly collaboration, spending discipline versus cash runway, and how quickly the company can translate promising science into de-risked, later-stage assets. Uncertainty is high by nature, and outcomes will likely be driven by a few critical scientific and regulatory milestones rather than gradual financial trends.

NEWS

November 6, 2025 · 7:00 AM UTC

ProQR Announces Third Quarter 2025 Operating and Financial Results

Read more

October 20, 2025 · 8:00 AM UTC

ProQR Receives CTA Authorization for AX-0810 and Announces Virtual Investor and Analyst Event on November 3, 2025

Read more

October 13, 2025 · 8:30 AM UTC

ProQR to Participate in Upcoming Investor Conferences in October 2025

Read more