Centessa Pharmaceuticals plc
CNTA · Pharmaceutical Preparations · 154.7M shares · +525%/yr ↑ dilution · EDGAR filings ↗
Reference price $30.12 · est. market cap ~$4.7B — last insider sale, 2026-03-26 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Clinical/early-stage biotech — clinical-stage biopharma, heavy burn ($194M), well-funded.
Strengths
- Liquidity — current ratio 8.6 (76th)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -1316.9%)
- Cash burnNegative free cash flow (-194.2M)
- Chronic dilutionShare count +525%/yr over 4y (dilution, book value/share -100%)
- AccumulatingInstitutional holders rose 8→9 QoQ (2025-12-31→2026-03-31)
- Insider sellingInsider selling — 20 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$13M, last 6mo) Form 4 ↗
- Trial readout soonUpcoming trial readout ~2026-12 — PHASE2 · Narcolepsy Type 1
- Notable holderHeld by 4 notable fund(s): FMR LLC, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-1384.6%
Net margin
-1316.9%
Return on equity
-37.5%
Return on assets
-28.7%
ROIC
-25.8%
Debt / equity
0.2×
Current ratio
8.6×
Free cash flow
-$194M
EBITDA
-$207M
Tangible book value
$527M
Cash & investments
$295M
Cash runway
6q
Stock comp / revenue
206.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-24 | INDEX VENTURES LIFE VI (JERSEY) L.P. | Sell | 149K | — |
| 2026-06-24 | HUSSAIN IQBAL J | Disposition | 118K | — |
| 2026-06-24 | HUSSAIN IQBAL J | Disposition | 5.5K | — |
| 2026-06-24 | Bush Tia L | Disposition | 148K | — |
| 2026-06-24 | Crowley John J | Disposition | 45K | — |
| 2026-06-24 | Anderson Karen M. | Disposition | 62K | — |
| 2026-06-24 | Deferiere Raphael | Disposition | 11K | — |
| 2026-06-24 | Kanes Stephen | Disposition | 120K | — |
| 2026-06-24 | Accardi Mario Alberto | Disposition | 243K | — |
| 2026-06-24 | De Rubertis Francesco | Disposition | 4.4M | — |
| 2026-06-24 | De Rubertis Francesco | Disposition | 56K | — |
| 2026-06-24 | De Rubertis Francesco | Disposition | 3.9M | — |
| 2026-06-24 | De Rubertis Francesco | Disposition | 94K | — |
| 2026-06-24 | De Rubertis Francesco | Disposition | 11.2M | — |
| 2026-06-24 | De Rubertis Francesco | Disposition | 281K | — |
| 2026-06-24 | GOYAL ARJUN | Disposition | 463K | — |
| 2026-06-24 | Weinhoff Gregory M | Disposition | 66K | — |
| 2026-06-24 | Medicxi Ventures Management (Jersey) Ltd | Sell | 4.4M | — |
| 2026-06-24 | Medicxi Ventures Management (Jersey) Ltd | Sell | 56K | — |
| 2026-06-24 | Medicxi Ventures Management (Jersey) Ltd | Sell | 3.9M | — |
| 2026-06-24 | Medicxi Ventures Management (Jersey) Ltd | Sell | 94K | — |
| 2026-06-24 | Medicxi Ventures Management (Jersey) Ltd | Sell | 11.2M | — |
| 2026-06-24 | Medicxi Ventures Management (Jersey) Ltd | Sell | 281K | — |
| 2026-06-24 | INDEX VENTURES LIFE VI (JERSEY) L.P. | Sell | 9.8M | — |
| 2026-05-01 | Accardi Mario Alberto | Tax withheld | 604 | $39.42 |
| 2026-03-26 | Weinhoff Gregory M | Option exercise | 24K | $3.85 |
| 2026-03-26 | Anderson Karen M. | Option exercise | 41K | $8.01 |
| 2026-03-26 | Anderson Karen M. | Sell | 41K | $30.12 |
| 2026-03-26 | Weinhoff Gregory M | Sell | 24K | $30.00 |
| 2026-03-17 | Anderson Karen M. | Option exercise | 10K | $4.01 |
| 2026-03-17 | Anderson Karen M. | Sell | 10K | $28.10 |
| 2026-03-16 | Anderson Karen M. | Sell | 65K | $28.21 |
| 2026-03-16 | Anderson Karen M. | Option exercise | 65K | $4.01 |
| 2026-03-13 | Anderson Karen M. | Sell | 12K | $27.13 |
| 2026-03-13 | Anderson Karen M. | Option exercise | 94K | $4.01 |
| 2026-03-13 | Anderson Karen M. | Option exercise | 15K | $3.85 |
| 2026-03-13 | Anderson Karen M. | Sell | 108K | $26.15 |
| 2026-03-13 | Anderson Karen M. | Option exercise | 109K | $4.01 |
| 2026-03-13 | Anderson Karen M. | Sell | 108K | $26.15 |
| 2026-03-13 | Anderson Karen M. | Sell | 12K | $27.13 |
| 2026-03-13 | Weinhoff Gregory M | Sell | 61K | $26.17 |
| 2026-03-13 | Weinhoff Gregory M | Sell | 12K | $27.16 |
| 2026-02-02 | Bush Tia L | Grant | 35K | — |
| 2026-02-02 | Kanes Stephen | Grant | 120K | — |
| 2026-02-02 | Crowley John J | Grant | 45K | — |
| 2026-02-02 | Deferiere Raphael | Grant | 11K | — |
| 2026-02-02 | HUSSAIN IQBAL J | Sell | 39K | $25.15 |
| 2026-02-02 | HUSSAIN IQBAL J | Grant | 40K | — |
| 2026-02-02 | HUSSAIN IQBAL J | Grant | 20K | — |
| 2026-02-02 | Weinhoff Gregory M | Grant | 31K | — |
| 2026-02-02 | Accardi Mario Alberto | Grant | 68K | — |
| 2026-02-02 | Anderson Karen M. | Grant | 29K | — |
| 2026-02-01 | HUSSAIN IQBAL J | Tax withheld | 7.8K | $24.57 |
| 2026-02-01 | Anderson Karen M. | Tax withheld | 11K | $24.57 |
| 2026-02-01 | Accardi Mario Alberto | Tax withheld | 2.9K | $24.57 |
| 2026-02-01 | Bush Tia L | Tax withheld | 8.5K | $24.57 |
| 2026-02-01 | Weinhoff Gregory M | Tax withheld | 14K | $24.57 |
| 2026-01-30 | HUSSAIN IQBAL J | Sell | 1.0K | $25.01 |
| 2025-12-09 | Accardi Mario Alberto | Sell | 7.4K | $28.70 |
| 2025-12-09 | Accardi Mario Alberto | Sell | 2.6K | $29.21 |
| 2025-12-08 | Accardi Mario Alberto | Option exercise | 5.0K | $9.53 |
| 2025-12-08 | Accardi Mario Alberto | Sell | 10K | $30.00 |
| 2025-11-17 | Bush Tia L | Option exercise | 40K | $9.42 |
| 2025-11-17 | HUSSAIN IQBAL J | Option exercise | 6.0K | $5.84 |
| 2025-11-17 | HUSSAIN IQBAL J | Sell | 6.0K | $27.64 |
| 2025-11-17 | Bush Tia L | Sell | 40K | $28.00 |
| 2025-11-12 | Bush Tia L | Sell | 40K | $26.00 |
| 2025-11-12 | Bush Tia L | Option exercise | 40K | $9.42 |
| 2025-11-01 | Accardi Mario Alberto | Tax withheld | 593 | $24.90 |
| 2025-10-27 | Accardi Mario Alberto | Sell | 8.0K | $25.00 |
| 2025-10-27 | Accardi Mario Alberto | Option exercise | 5.0K | $8.01 |
| 2025-10-15 | HUSSAIN IQBAL J | Sell | 6.0K | $22.41 |
| 2025-10-15 | HUSSAIN IQBAL J | Option exercise | 6.0K | $5.84 |
| 2025-09-24 | Bush Tia L | Option exercise | 35K | $9.42 |
| 2025-09-24 | Bush Tia L | Sell | 35K | $24.00 |
| 2025-09-16 | Accardi Mario Alberto | Sell | 7.4K | $21.33 |
| 2025-09-16 | Accardi Mario Alberto | Sell | 742 | $22.02 |
| 2025-09-15 | HUSSAIN IQBAL J | Option exercise | 6.0K | $5.84 |
| 2025-09-15 | HUSSAIN IQBAL J | Sell | 6.0K | $21.85 |
| 2025-09-10 | Bush Tia L | Sell | 25K | $22.00 |
| 2025-09-10 | HUSSAIN IQBAL J | Option exercise | 20K | $5.84 |
| 2025-09-10 | HUSSAIN IQBAL J | Sell | 20K | $22.00 |
| 2025-09-10 | Bush Tia L | Option exercise | 25K | $9.42 |
| 2025-09-09 | Accardi Mario Alberto | Option exercise | 5.0K | $8.01 |
| 2025-09-09 | Bush Tia L | Option exercise | 25K | $8.01 |
| 2025-09-09 | Bush Tia L | Sell | 25K | $20.00 |
| 2025-09-09 | HUSSAIN IQBAL J | Option exercise | 20K | $5.84 |
| 2025-09-09 | HUSSAIN IQBAL J | Sell | 20K | $20.01 |
| 2025-09-09 | Accardi Mario Alberto | Sell | 7.0K | $20.00 |
| 2025-08-15 | HUSSAIN IQBAL J | Option exercise | 6.0K | $5.84 |
| 2025-08-15 | HUSSAIN IQBAL J | Sell | 6.0K | $17.23 |
| 2025-08-01 | Accardi Mario Alberto | Tax withheld | 597 | $17.17 |
| 2025-07-29 | Accardi Mario Alberto | Sell | 8.3K | $15.23 |
| 2025-07-25 | Weinhoff Gregory M | Option exercise | 10K | $3.85 |
| 2025-07-25 | Weinhoff Gregory M | Sell | 10K | $15.56 |
| 2025-07-21 | SAHA SAURABH | Sell | 55K | $15.92 |
| 2025-07-21 | SAHA SAURABH | Option exercise | 55K | $3.85 |
| 2025-07-15 | HUSSAIN IQBAL J | Option exercise | 6.0K | $5.84 |
| 2025-07-15 | HUSSAIN IQBAL J | Sell | 6.0K | $14.93 |
| 2025-06-25 | Weinhoff Gregory M | Sell | 10K | $13.86 |
| 2025-06-25 | Weinhoff Gregory M | Option exercise | 10K | $3.85 |
| 2025-06-24 | Accardi Mario Alberto | Option exercise | 15K | $3.85 |
| 2025-06-24 | HUSSAIN IQBAL J | Option exercise | 12K | $5.84 |
| 2025-06-24 | HUSSAIN IQBAL J | Sell | 12K | $14.02 |
| 2025-06-24 | Accardi Mario Alberto | Sell | 15K | $14.00 |
| 2025-06-20 | SAHA SAURABH | Option exercise | 55K | $3.85 |
| 2025-06-20 | SAHA SAURABH | Sell | 55K | $12.63 |
| 2025-05-27 | Weinhoff Gregory M | Option exercise | 10K | $3.85 |
| 2025-05-27 | Weinhoff Gregory M | Sell | 10K | $12.82 |
| 2025-05-20 | SAHA SAURABH | Option exercise | 55K | $3.85 |
| 2025-05-20 | SAHA SAURABH | Sell | 55K | $12.71 |
| 2025-05-16 | GOYAL ARJUN | Buy | 418K | $12.73 |
| 2025-05-15 | GOYAL ARJUN | Buy | 45K | $12.24 |
| 2025-05-01 | HUSSAIN IQBAL J | Option exercise | 311 | $5.84 |
| 2025-05-01 | HUSSAIN IQBAL J | Sell | 311 | $14.00 |
| 2025-04-28 | HUSSAIN IQBAL J | Sell | 2.1K | $14.01 |
| 2025-04-28 | HUSSAIN IQBAL J | Option exercise | 2.1K | $5.84 |
| 2025-04-25 | HUSSAIN IQBAL J | Option exercise | 3.6K | $5.84 |
| 2025-04-25 | HUSSAIN IQBAL J | Sell | 3.6K | $14.00 |
| 2025-04-25 | Weinhoff Gregory M | Sell | 12K | $13.61 |
| 2025-04-22 | SAHA SAURABH | Sell | 40K | $12.43 |
| 2025-04-21 | SAHA SAURABH | Sell | 15K | $12.29 |
| 2025-03-25 | Weinhoff Gregory M | Option exercise | 10K | $3.85 |
| 2025-03-25 | Weinhoff Gregory M | Sell | 10K | $16.34 |
| 2025-03-20 | SAHA SAURABH | Sell | 55K | $16.69 |
| 2025-03-17 | HUSSAIN IQBAL J | Sell | 6.0K | $16.45 |
| 2025-03-17 | CHAO DAVID M | Option exercise | 3.5K | $3.85 |
| 2025-03-17 | CHAO DAVID M | Sell | 5.5K | $17.08 |
| 2025-03-17 | CHAO DAVID M | Sell | 1.5K | $17.50 |
| 2025-03-17 | HUSSAIN IQBAL J | Option exercise | 6.0K | $5.84 |
| 2025-02-25 | Weinhoff Gregory M | Sell | 11K | $15.25 |
| 2025-02-20 | SAHA SAURABH | Sell | 54K | $15.92 |
| 2025-02-20 | SAHA SAURABH | Sell | 775 | $16.54 |
| 2025-02-18 | HUSSAIN IQBAL J | Option exercise | 6.0K | $5.84 |
| 2025-02-18 | HUSSAIN IQBAL J | Sell | 4.6K | $15.91 |
| 2025-02-18 | HUSSAIN IQBAL J | Sell | 1.4K | $17.05 |
| 2025-02-10 | Anderson Karen M. | Option exercise | 429 | $4.01 |
| 2025-02-10 | Anderson Karen M. | Sell | 429 | $18.99 |
| 2025-02-07 | Anderson Karen M. | Option exercise | 31K | $4.01 |
| 2025-02-07 | Anderson Karen M. | Sell | 31K | $19.03 |
| 2025-02-03 | Bush Tia L | Sell | 11K | $16.86 |
| 2025-02-03 | Anderson Karen M. | Sell | 6.5K | $16.86 |
| 2025-02-01 | HUSSAIN IQBAL J | Tax withheld | 13K | $16.92 |
| 2025-02-01 | Weinhoff Gregory M | Tax withheld | 14K | $16.92 |
| 2025-02-01 | Bush Tia L | Tax withheld | 8.7K | $16.92 |
| 2025-02-01 | CHAO DAVID M | Tax withheld | 13K | $16.92 |
| 2025-02-01 | SAHA SAURABH | Tax withheld | 43K | $16.92 |
| 2025-02-01 | Anderson Karen M. | Tax withheld | 11K | $16.92 |
| 2025-01-27 | Weinhoff Gregory M | Sell | 12K | $16.47 |
| 2025-01-21 | SAHA SAURABH | Sell | 53K | $15.76 |
| 2025-01-21 | SAHA SAURABH | Sell | 1.6K | $16.19 |
| 2025-01-15 | HUSSAIN IQBAL J | Option exercise | 6.0K | $5.84 |
| 2025-01-15 | HUSSAIN IQBAL J | Sell | 6.0K | $15.29 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07598708 ↗ | A Study to Investigate the Effects of Cleminorexton Compared With Placebo in the Treatment of Participants With Central Disorders of Hypersomnolence Narcolepsy Type 1, Narcolepsy Type 2 | PHASE2/PHASE3 | Recruiting | 2027-09-30 |
| NCT06752668 ↗ | A Study of ORX750 in Participants With Narcolepsy and Idiopathic Hypersomnia Narcolepsy Type 1, Narcolepsy Type 2 | PHASE2 | Recruiting | 2026-12-01 |
| NCT05821777 ↗ | A Study to Evaluate Safety, Tolerability and Preliminary Activity of LB101 in Participants With Advanced Solid Tumors Advanced Solid Tumor | PHASE1/PHASE2 | Terminated | 2025-01-24 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-24 | 1.02Acquisition/dispositionDelisting notice3.035.01Exec/director changeOtherExhibits | filing ↗ |
| 2026-06-12 | Shareholder voteOther | filing ↗ |
| 2026-05-22 | Other | filing ↗ |
| 2026-03-31 | Material agreementReg FDExhibits | filing ↗ |
| 2026-02-13 | Exec/director change | filing ↗ |
| 2026-01-07 | Exec/director changeExhibits | filing ↗ |
| 2025-12-11 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-11-24 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-24 | 2026-06-24 | 0001193125-26-280337 ↗ |
| 8-K | 2026-06-12 | 2026-06-12 | 0001193125-26-269474 ↗ |
| 8-K | 2026-05-22 | 2026-05-21 | 0001193125-26-236933 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001847903-26-000049 ↗ |
| 10-K | 2026-03-31 | 2025-12-31 | 0001847903-26-000025 ↗ |
| 8-K | 2026-03-31 | 2026-03-31 | 0001193125-26-134656 ↗ |
| 8-K | 2026-02-13 | 2026-02-09 | 0001193125-26-051424 ↗ |
| 8-K/A | 2026-01-07 | 2025-12-05 | 0001193125-26-004896 ↗ |
| 8-K | 2025-12-11 | 2025-12-05 | 0001193125-25-315074 ↗ |
| 8-K | 2025-11-24 | 2025-11-24 | 0001193125-25-292015 ↗ |
| 8-K | 2025-11-13 | 2025-11-11 | 0001193125-25-278827 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001847903-25-000154 ↗ |