SHARPE
Reported results
- GAAP total revenue was $243 million for the third quarter of 2026.
- GAAP operating expenses were $373 million for the third quarter of 2026.
- Operating expenses on a non-GAAP basis were $330 million for the third quarter of 2026.
- GAAP loss from operations was $130 million for the third quarter of 2026.
- Loss from operations on a non-GAAP basis was $87 million for the third quarter of 2026.
- Cash, cash equivalents and short-term investments were $1.9 billion as of September 30, 2026.
Guidance
- Full year 2026 total revenue guidance is $875-900 million.
- Full year 2026 TRYNGOLZA net product sales guidance was lowered to approximately $50 million.
- Full year 2026 DAWNZERA net product sales guidance is $110-120 million.
- Full year 2026 operating loss on a non-GAAP basis guidance is $425-475 million.
- Full year 2026 cash, cash equivalents and short-term investments guidance is >$1.6 billion.
Price and volatility reaction
The stock moved -21.4% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -9.1 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 39.42 | 2026-11-06 |
| Close after release | 31 | 2026-11-09 |
| Realised move | -21.4% | close to close |
| 30d ATM IV change | -9.1 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-11-09 (8-K, Item 2.02). Read the original filing on sec.gov.