# First Tracks Biotherapeutics, Inc.: overview

TRAX · Nasdaq · CIK 2091349 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/trax.md) · [Financials](/companies/trax/financials.md) · [Filings](/companies/trax/filings.md) · [Insiders](/companies/trax/insiders.md)

Revenue is not reported in this company’s XBRL financial statements.

## Last eight quarters

| Line item | Unit | period not labelled (2025-03-31) | period not labelled (2025-06-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: |
| Revenue | $m | not reported | not reported | not reported | not reported |
| Gross margin | % | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported |
| Net margin | % | not reported | not reported | not reported | not reported |
| Diluted EPS | $ per share | not reported | [(1.47)](/filings/0001193125-26-346931.md) | not reported | [(0.95)](/filings/0001193125-26-346931.md) |
| Free cash flow | $m | [(45.0)](/filings/0001193125-26-224190.md) | [(38.7) d](/filings/0001193125-26-346931.md) | [(32.6)](/filings/0001193125-26-224190.md) | [(31.9) d](/filings/0001193125-26-346931.md) |

- Revenue. XBRL not reported.
- Gross margin (gross profit / revenue). XBRL not reported.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 6-month figure less the 3-month figure.

## Last five fiscal years

Not reported.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/trax/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [EcoR1 Capital, LLC](/funds/1587114.md) | 2026-06-30 | $63.9m | 3,174,519 |  | New +3,174,519 |
| [TCG Crossover Management, LLC](/funds/1839948.md) | 2026-06-30 | $58.3m | 2,895,304 |  | New +2,895,304 |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $41.3m | 2,054,127 |  | New +2,054,127 |
| [Affinity Asset Advisors, LLC](/funds/1773195.md) | 2026-06-30 | $40.9m | 2,032,012 |  | New +2,032,012 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $39.5m | 1,963,541 |  | New +1,963,541 |
| [Trails Edge Capital Partners, LP](/funds/2077247.md) | 2026-06-30 | $30.5m | 1,514,000 |  | New +1,514,000 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $29.2m | 1,451,909 |  | New +1,451,909 |
| [Jupiter Topco LLC](/funds/2146052.md) | 2026-06-30 | $22.0m | 1,091,464 |  | Not compared |
| [Vestal Point Capital, LP](/funds/1974915.md) | 2026-06-30 | $20.4m | 1,013,000 |  | New +1,013,000 |
| [Woodline Partners LP](/funds/1784547.md) | 2026-06-30 | $18.5m | 917,176 |  | New +917,176 |

## Recent filings

[All 86 filings](/companies/trax/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-26 | 07:37 ET | [S-1](/filings/0001193125-26-431033.md) | Registration statement | 0001193125-26-431033 |
| 2026-10-20 | 16:05 ET | [8-K](/filings/0001193125-26-426666.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0001193125-26-426666 |
| 2026-10-15 | 16:28 ET | [8-K](/filings/0001193125-26-422929.md) | 1.01 Entry into a material agreement; 3.02 Unregistered sale of equity; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001193125-26-422929 |
| 2026-10-13 | 08:32 ET | [8-K](/filings/0001193125-26-419761.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001193125-26-419761 |
| 2026-08-12 | 16:24 ET | [10-Q](/filings/0001193125-26-346931.md) | Quarterly report, period 2026-06-30 | 0001193125-26-346931 |
| 2026-08-12 | 16:19 ET | [8-K](/filings/0001193125-26-346908.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001193125-26-346908 |
| 2026-06-22 | 16:05 ET | [8-K](/filings/0001193125-26-277504.md) | 1.01 Entry into a material agreement | 0001193125-26-277504 |
| 2026-05-14 | 16:32 ET | [10-Q](/filings/0001193125-26-224190.md) | Quarterly report, period 2026-03-31 | 0001193125-26-224190 |
| 2026-05-14 | 16:24 ET | [8-K](/filings/0001193125-26-224124.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001193125-26-224124 |
| 2026-05-08 | 16:37 ET | [S-1](/filings/0001193125-26-214778.md) | Registration statement | 0001193125-26-214778 |

## Latest annual report

No annual report is in coverage.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 2091349
- Tickers: TRAX
- Exchange: Nasdaq
- SIC code: 2834 Pharmaceutical Preparations
- State of incorporation: DE
- Filer category: Non-accelerated filer<br>Smaller reporting company<br>Emerging growth company

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 06:15 ET. No prices; not investment advice.