OnKure Therapeutics (OKUR) AI Stock Analysis

• Market Cap: $32.52M
• Dividend Yield: N/A
• Average Volume (3M): 86.56K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.34
• Revenue Growth: N/A
• EPS Growth: 46.20%
• Country: US
• Employees: 46
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.09
• Shares Outstanding: 12,861,672
• 10 Day Avg. Volume: 131,167
• 30 Day Avg. Volume: 86,556
• PEG Ratio: -0.04
• Price to Book (P/B): 1.10
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.24
• Enterprise Value/Market Cap: -1.18
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 91.20
• Enterprise Value/Ebitda: 0.49
• 1Y Price Target: $24.00
• Price Target Upside: 900.00% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: $2.50 ▲(4.17% Upside)

The score is driven primarily by weak financial performance (no revenue, widening losses, and heavy cash burn implying continued funding risk), partially offset by low leverage and improved equity on the balance sheet. Technicals also detract due to a downtrend below major moving averages and negative MACD, while valuation support is limited because losses produce a negative P/E and no dividend yield is available.

Positive Factors

Very low leverage and positive equity

Extremely low debt and a restored positive equity position materially reduce financial distress risk for a development-stage biotech. This balance-sheet cushion lowers interest burden and gives management time to execute clinical programs without immediate solvency pressure, preserving strategic optionality.

Ongoing capital flexibility via ATM program

An at-the-market sales agreement provides a durable mechanism to raise incremental capital as needed, smoothing runway management and reducing reliance on large, infrequent financings. This structural tool supports continuous funding of trials and operations while enabling opportunistic capital access.

Cash flow closely tracks accounting losses

Tight alignment between cash burn and reported net loss implies limited non-cash distortions and clearer visibility into real cash needs. That transparency improves predictability of runway and capital planning, making financing requirements easier to model and manage over coming months.

Negative Factors

No revenue (pre-revenue biotech)

Zero commercial revenue means the company depends entirely on financing and clinical milestones for value realization. Lack of product cash flows increases execution risk and makes the business sensitive to fundraising cycles, constraining autonomy to fund development without dilution.

Widening losses and heavy cash burn

Accelerating net losses and large negative operating cash flow materially raise near-term funding needs. Rising burn shortens runway, heightens financing frequency, and increases the likelihood of dilutive raises or program delays if capital markets access tightens over the next several months.

Declining asset base / balance-sheet consumption

A marked drop in total assets reflects sustained cash outflows and shrinking liquidity reserves. Continued asset consumption reduces strategic flexibility for trials or partnerships and increases pressure to secure financing or restructure, elevating execution and dilution risk in the medium term.

OnKure Therapeutics Business Overview & Revenue Model

Company Description

OnKure, Inc. engages in the discovery and development of oncology-precision medicines for the treatment of cancer. The company focuses on developing selective inhibitors of histone deacetylases. Its portfolio includes OKI-179, an inhibitor for the treatment of both hematological and solid tumors. The company was incorporated in 2011 and is based in Boulder, Colorado.

How the Company Makes Money

OnKure Therapeutics generates revenue primarily through partnerships, collaborations, and licensing agreements with larger pharmaceutical companies. These agreements often include upfront payments, milestone payments based on the achievement of specific development or regulatory objectives, and royalties on future sales of successfully commercialized drugs. Additionally, OnKure may receive funding from government grants or research institutions to support its R&D activities. The company's revenue model is highly dependent on the progress and success of its clinical trials and the ability to secure strategic partnerships.

OnKure Therapeutics Financial Statement Overview

Summary

Income statement and cash flow are weak for a pre-revenue biotech: $0 revenue, widening net losses (TTM ~$81.2M vs. ~$52.7M in 2024), and substantial cash burn (TTM operating/free cash flow about -$61M), implying continued financing dependence. The balance sheet is a relative positive with very low leverage (~$0.7M debt; debt-to-equity ~0.01) and equity back to positive (~$66.4M), but assets have declined (~$114.9M to ~$72.8M), indicating ongoing balance-sheet consumption.

Income Statement

OKUR remains a pre-revenue biotechnology company with $0 revenue in both TTM (Trailing-Twelve-Months) and the last several annual periods, so losses are not being offset by commercial sales. Losses have widened recently (net loss of ~$81.2M in TTM vs. ~$52.7M in 2024 and ~$35.3M in 2023), indicating a rising cost base and heavier investment cycle. While this is common for development-stage biotech, the trajectory points to increasing cash needs and limited near-term earnings visibility.

Balance Sheet

Leverage is very low in TTM (Trailing-Twelve-Months) with total debt of ~$0.7M and a debt-to-equity ratio near 0.01, which reduces financial risk and interest burden. Equity has improved substantially versus 2022–2023 (when equity was negative), rising to ~$66.4M in TTM, supporting balance-sheet stability. The main weakness is that returns on equity are deeply negative in TTM due to ongoing losses, and total assets have declined from 2024 to TTM (~$114.9M to ~$72.8M), suggesting balance-sheet consumption over time.

Cash Flow

Cash generation is weak, with operating cash flow and free cash flow both materially negative in TTM (Trailing-Twelve-Months) (about -$61M), reflecting significant ongoing cash burn. Annual free cash flow burn worsened from 2023 to 2024 (about -$34.8M to -$51.2M), and TTM burn is larger still, increasing funding dependence. A relative positive is that free cash flow broadly tracks reported losses (free cash flow to net income near 1x), implying limited non-cash distortions, but the absolute cash outflow remains the central risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-419.00K	0.00	0.00	0.00	-50.00K	-37.00K
EBITDA	-77.62M	-51.71M	-34.75M	-29.38M	-39.72M	-19.43M
Net Income	-81.21M	-52.67M	-35.31M	-29.51M	-39.77M	-19.46M
Balance Sheet
Total Assets	72.83M	114.91M	35.73M	16.00M	154.02M	55.22M
Cash, Cash Equivalents and Short-Term Investments	70.33M	110.76M	29.88M	11.54M	147.67M	53.61M
Total Debt	687.00K	1.08M	674.00K	637.00K	0.00	92.72M
Total Liabilities	6.41M	11.08M	137.58M	70.42M	6.81M	97.34M
Stockholders Equity	66.43M	103.83M	-101.84M	-54.42M	147.21M	-42.12M
Cash Flow
Free Cash Flow	-61.42M	-51.17M	-34.79M	-28.09M	-38.18M	-18.56M
Operating Cash Flow	-61.33M	-51.12M	-34.55M	-26.95M	-37.98M	-18.54M
Investing Cash Flow	-45.41M	15.87M	-246.00K	-1.13M	-23.38M	7.38M
Financing Cash Flow	114.14M	116.13M	53.13M	26.46M	132.41M	47.27M

OnKure Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OKUR, the sentiment is Negative. The current price of 2.4 is below the 20-day moving average (MA) of 2.87, below the 50-day MA of 2.91, and below the 200-day MA of 2.68, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 33.28 is Neutral, neither overbought nor oversold. The STOCH value of 8.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for OKUR.

OnKure Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ELUT	48 Neutral	$42.37M	-1.08	―	―	-14.92%	72.81%
IGC	47 Neutral	$24.72M	-3.32	-83.34%	―	-6.51%	58.31%
OKUR	42 Neutral	$32.52M	-0.39	-115.64%	―	―	46.20%
RANI	41 Neutral	$144.61M	-1.50	―	―	―	25.08%

OnKure Therapeutics Corporate Events

OnKure Therapeutics Announces Sales Agreement with Leerink

On November 6, 2025, OnKure Therapeutics, Inc. announced a sales agreement with Leerink Partners LLC to sell shares of its Class A common stock through an ‘at the market offering’ program. This agreement allows OnKure to set parameters for share sales, with Leerink Partners acting as the sales agent. The arrangement provides flexibility for OnKure to manage its capital needs and market presence, potentially impacting its financial operations and stakeholder interests.

The most recent analyst rating on (OKUR) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on OnKure Therapeutics stock, see the OKUR Stock Forecast page.