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olivLaw · US equity research

Artiva Biotherapeutics, Inc. ARTV

Biological Products, (No Diagnostic Substances) · SIC 2836 · Vertical: Biological Products, (No Diagnostic Substances) (SIC 2836)

4.13USD−2.13% · 1 dayClose 05 Nov 2026

Artiva Biotherapeutics develops off-the-shelf allogeneic NK cell therapies for B-cell driven autoimmune diseases, mainly refractory rheumatoid arthritis. In 2026 the company announced a Phase 3 design aligned with the FDA and a financing of about 300 million USD, which makes it relevant to the clinical stage of AlloNK.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 05 Nov 2026, Artiva Biotherapeutics, Inc. (ARTV) stock was 4.13 USD (−2.13% on the day), with market capitalisation 201.9 m USD, beta 1.66, 52-week range 3.07–13.39 USD. Latest reported quarter (Q2 2026): net income of -25.0 m USD, diluted EPS -0.63 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
201.9 m USD
shares as of 31 Jul 2026
P/E (TTM)
unavailable
Diluted EPS TTM -3.31 · TTM to 30 Jun 2026
E/P (TTM)
-80.03%
TTM to 30 Jun 2026
Dividend yield
unavailable
Beta (2y)
1.66
Volatility (1y) 125%
52-week range
3.0713.39

Price history

Loading chart…

Technical reading

RSI (14)
20.7
oversold (≤ 30)
Bollinger (20, 2)
3.36 – 7.53
in the lower half of the band · %B 0.18 · band width 76.5%
SMA 50 / 200
7.53 / 8.02
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.96 / -0.92
MACD below signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−43.2%−1.1%−42.1 pp—
3 months−64.3%−0.5%−63.9 pp—
6 months−67.0%+4.4%−71.4 pp—
Year to date−3.7%+12.3%−16.0 pp—
1 year+20.1%+13.5%+6.5 pp−15.7%
3 yearsunavailable+76.4%unavailable−7.9%
5 yearsunavailable+63.7%unavailable—
Max drawdown (1y)
−69.2%
20 Apr 2026 → 05 Nov 2026
Max drawdown (5y)
−90.7%
04 Oct 2024 → 27 Jun 2025
Compound annual growth (5y)
unavailable
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q2 2026 · 30 Jun 2026

Revenue
unavailable USD
unavailable YoY
Net income
-25.0 m USD
unavailable YoY
Diluted EPS
-0.63
unavailable YoY
net / operating
unavailable / unavailable

Quarterly margins

Quarterly statements · USD

Fiscal yearQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Revenue0 ≈0——————
Research & development13.5 m13.3 m17.1 m17.9 m17.6 m17.0 m19.3 m21.9 m
Operating income-18.3 m-18.3 m-22.2 m-22.8 m-22.9 m-21.9 m-24.4 m-26.9 m
Depreciation & amortisation627.0 k ≈614.0 k628.0 k641.0 k ≈662.0 k ≈666.0 k666.0 k692.0 k ≈
Net income-17.5 m-16.1 m-20.3 m-21.3 m-21.5 m-20.8 m-23.5 m-25.0 m
Diluted EPS-0.92-0.66 ≈-0.83-0.87-0.88-0.85 ≈-0.95-0.63
Operating cash flow-11.6 m ≈-14.7 m-19.8 m-23.0 m ≈-19.2 m ≈-14.7 m-21.0 m-20.4 m ≈
Capex96.0 k ≈64.0 k511.0 k1.1 m ≈600.0 k ≈421.0 k242.0 k415.0 k ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year202320242025
Revenue33.5 m251.0 k0
Revenue YoYunavailable−99.3%−100.0%
Net income-28.7 m-65.4 m-83.9 m
Net income YoYunavailableunavailableunavailable
Diluted EPS-35.78-5.81-3.43
Diluted EPS YoYunavailableunavailableunavailable
net %-85.8%-26,045.0%unavailable
Free cash flow-50.7 m-55.7 m-79.3 m

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
26.7 m USD
Financial debt
unavailable USD
Net debt
unavailable USD
Equity
110.0 m USD
Total assets
130.9 m USD
Debt / equity
unavailable
Current ratio
8.61x
ROE
-56.5%
ROA
-49.3%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
33.5 m
2024
251.0 k
2025
0

SEC (XBRL)· 10 Mar 2026verified

Research & development
2023
50.3 m
2024
50.3 m
2025
69.5 m

SEC (XBRL)· 10 Mar 2026verified

Operating income
2023
-30.7 m
2024
-67.3 m
2025
-89.8 m

SEC (XBRL)· 10 Mar 2026verified

Depreciation & amortisation
2023
2.3 m
2024
2.4 m
2025
2.6 m

SEC (XBRL)· 10 Mar 2026verified

EBITDA
2023
-28.4 m ≈
2024
-64.9 m ≈
2025
-87.2 m ≈

SEC (XBRL)· 10 Mar 2026derived

Pre-tax income
2023
-28.6 m
2024
-65.4 m
2025
—

SEC (XBRL)· 24 Mar 2025verified

Income tax
2023
72.0 k
2024
0
2025
0

SEC (XBRL)· 10 Mar 2026verified

Net income
2023
-28.7 m
2024
-65.4 m
2025
-83.9 m

SEC (XBRL)· 10 Mar 2026verified

Diluted EPS
2023
-35.78
2024
-5.81
2025
-3.43

SEC (XBRL)· 10 Mar 2026verified

Weighted average diluted shares
2023
802.7 k
2024
11.3 m
2025
24.4 m

SEC (XBRL)· 10 Mar 2026verified

Balance sheet · USD

Cash
2023
53.5 m
2024
40.2 m
2025
26.7 m

SEC (XBRL)· 10 Mar 2026verified

Receivables
2023
1.0 m
2024
0
2025
—

SEC (XBRL)· 24 Mar 2025verified

Current assets
2023
79.8 m
2024
188.6 m
2025
112.7 m

SEC (XBRL)· 10 Mar 2026verified

Property, plant & equipment, net
2023
8.1 m
2024
6.4 m
2025
6.6 m

SEC (XBRL)· 10 Mar 2026verified

Total assets
2023
105.1 m
2024
209.6 m
2025
130.9 m

SEC (XBRL)· 10 Mar 2026verified

Accounts payable
2023
614.0 k
2024
1.1 m
2025
355.0 k

SEC (XBRL)· 10 Mar 2026verified

Current liabilities
2023
12.2 m
2024
12.3 m
2025
13.1 m

SEC (XBRL)· 10 Mar 2026verified

Total liabilities
2023
50.7 m
2024
22.9 m
2025
21.0 m

SEC (XBRL)· 10 Mar 2026verified

Equity
2023
-162.0 m †
2024
186.6 m †
2025
110.0 m †

SEC (XBRL)· 10 Mar 2026verified

Cash flow · USD

Operating cash flow
2023
-47.4 m
2024
-55.0 m
2025
-76.8 m

SEC (XBRL)· 10 Mar 2026verified

Capex
2023
3.3 m
2024
642.0 k
2025
2.6 m

SEC (XBRL)· 10 Mar 2026verified

Free cash flow
2023
-50.7 m ≈
2024
-55.7 m ≈
2025
-79.3 m ≈

SEC (XBRL)· 10 Mar 2026derived

Investing cash flow
2023
-26.0 m
2024
-120.5 m
2025
63.4 m

SEC (XBRL)· 10 Mar 2026verified

Financing cash flow
2023
24.4 m
2024
162.2 m
2025
9.0 k

SEC (XBRL)· 10 Mar 2026verified

Computed indicators

Growth

Revenue growth (YoY)
-100.0%
computed by olivLawFY 2025
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
unavailable
the base of the ratio is not positive
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
input data missing
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
input data missing
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
unavailable
the base of the ratio is not positive

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
unavailable
insufficient data
EBIT margin
unavailable
insufficient data
Net margin
unavailable
insufficient data
FCF margin
unavailable
insufficient data

Returns

ROE
-36.6%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2026
ROA
-33.8%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2026
ROIC
unavailable
input data missing
ROCE
-27.2%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2026
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
unavailable
input data missing

Liquidity

Current ratio
24.2x
computed by olivLawbalance sheet at 30 Jun 2026
Quick ratio
unavailable
input data missing
Cash ratio
20.7x
computed by olivLawbalance sheet at 30 Jun 2026

Cash

Operating cash flow
-75.2 m USD
computed by olivLawTTM to 30 Jun 2026
Capital expenditure
1.7 m USD
computed by olivLawTTM to 30 Jun 2026
Free cash flow
-76.9 m USD
computed by olivLawFY 2025
FCF conversion
unavailable
insufficient data
Cash conversion
unavailable
insufficient data

Efficiency

Days sales outstanding
unavailable
input data missing
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
201.9 m USD
computed by olivLawbalance sheet at 30 Jun 2026
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-80.0%
computed by olivLawTTM to 30 Jun 2026
P/B
0.6x
computed by olivLawbalance sheet at 30 Jun 2026
P/S
unavailable
insufficient data
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
the base of the ratio is not positive
FCF yield
-38.1%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2026
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 2 of at least 6
  • score weight coverage: 12.5% of at least 60%
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

4.13 USD

05 Nov 2026Source: olivLaw, closing series

Market cap: 201.9 m USD

Key indicators

Market capitalisation
201.9 m USD
computed by olivLawbalance sheet at 30 Jun 2026
P/E (TTM)
unavailable
insufficient data
P/B
0.6x
computed by olivLawbalance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
ROE
-36.6%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2026
Net margin
unavailable
insufficient data
Revenue growth (YoY)
-100.0%
computed by olivLawFY 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

24/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Share count (cover of the latest filing), as of: 31 Jul 2026
Source: SEC (XBRL)published 06 Aug 2026
verified 312derived 26

Score by group

13% · Insufficient data

Estimated value range

unavailable — no valuation method could be computed

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/Eunavailable · the base of the ratio is not positive
  • Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption

no valuation method could be computed

Multiple comparisons use the SIC vertical: Biological Products, (No Diagnostic Substances) (SIC 2836)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: indicators available: 2 of at least 6; score weight coverage: 12.5% of at least 60%; valuation methods computed: 0 of at least 1

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Qualityunavailableunavailable—
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growthunavailableunavailable—
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheetunavailableunavailable—
Current ratio · Balance sheet24.2x100 (on a fixed band)33%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuation-38.1%0 (on a fixed band)67%
Shareholder yield (distributions) · Returnsunavailableunavailable—
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial100/100 · 1/3 factors with a value
  • Growth· partialunavailable · 0/2 factors with a value
  • Quality· partialunavailable · 0/3 factors with a value
  • Returns· partialunavailable · 0/2 factors with a value
  • Valuation· partial0/100 · 1/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

Artiva Biotherapeutics, Inc. (ARTV). Latest full fiscal year: 2025; data up to 2026-06-30.

Figures computed from the financial statements: revenue 0 USD in 2025; YoY growth -100.0%; ROE -36.6%.

Valuation cannot be computed from the available data.

Insufficient data for a verdict (indicators available: 2 of at least 6; score weight coverage: 12.5% of at least 60%; valuation methods computed: 0 of at least 1).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Current ratio: 24.2x

What contradicts it

  • FCF yield: -38.1%

Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).

Versus the vertical median

Biological Products, (No Diagnostic Substances) (SIC 2836) · same industry (4-digit SIC) · compared with 39 companies

Multiples and returns vs the median

P/E
—
vertical median 23.7x
EV/EBITDA
—
vertical median —
P/S
—
vertical median 14.6x
P/B
0.6x
vertical median 2.2x
below median (−73.8%)
ROE
-36.6%
vertical median -42.7%
above median
Net margin
—
vertical median -259.4%
EBIT margin
—
vertical median -267.7%
Revenue YoY
-100.0%
vertical median 8.5%
below median (−1,280.9%)
Net debt/EBITDA
—
vertical median —
Dividend yield
—
vertical median 0.9%

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
AMGNAmgen Inc.258.8 bn27.778.4%24.1%+10.0%+39% / +77%
GILDGilead Sciences, Inc.216.4 bn—-22.3%-12.5%+2.4%+39% / +128%
MRNAModerna, Inc.103.2 bn—-39.0%-141.4%−39.9%+895% / +233%
RVMDRevolution Medicines, Inc.43.2 bn—-93.6%-946.8%unavailable+157% / +756%
BIIBBiogen Inc.37.6 bn108.81.9%3.4%+2.2%+40% / +9%
MESOMesoblast Limited18.3 bn—-19.0%-593.9%+191.4%−18% / +418%
EXELExelixis, Inc.17.8 bn21.744.3%35.5%+7.0%+65% / +234%
NBIXNeurocrine Biosciences, Inc.16.2 bn23.720.4%19.0%+21.4%+5% / +37%
KYMRKymera Therapeutics, Inc.10.9 bn—-27.3%-341.8%−16.7%+89% / +517%
ADPTAdaptive Biotechnologies Corporation4.3 bn—-37.1%-23.7%+54.8%+36% / +513%
RLAYRelay Therapeutics, Inc.3.8 bn—-41.2%-2,837.0%+53.4%+115% / +115%
ADMAAdma Biologics, Inc.2.9 bn17.141.9%35.1%+19.6%−31% / +257%
BEAMBeam Therapeutics Inc.2.7 bn—-11.3%-73.9%+120.0%+2% / −8%
VCELVericel Corporation2.7 bn122.67.2%7.9%+16.5%+29% / +46%
BCRXBiocryst Pharmaceuticals, Inc.2.0 bn——-37.4%+94.1%+6% / +30%
REPLReplimune Group, Inc.1.9 bn—-115.8%—unavailable+100% / +79%
VIRVir Biotechnology, Inc.1.9 bn—-21.8%-61.0%−7.6%+72% / +16%
MAZEMaze Therapeutics, Inc.1.8 bn—-37.3%-5,343.6%unavailable−14% / unavailable
INBXInhibrx Biosciences, Inc.1.2 bn—-1,773.6%—+550.0%−5% / unavailable
GLUEMonte Rosa Therapeutics, Inc.874.5 m—-42.7%-560.9%+63.5%−37% / +231%
XFORX4 Pharmaceuticals, Inc313.5 m—-80.3%-813.3%+150.0%−16% / −87%
SABSSab Biotherapeutics, Inc.267.5 m—-11.3%—−100.0%−26% / −70%
LXEOLexeo Therapeutics, Inc.238.3 m—-46.8%—unavailable−71% / −77%
PALIPalisade Bio, Inc.202.2 m—-51.4%-6,388.2%unavailable−45% / −88%
ARTVArtiva Biotherapeutics, Inc.201.9 m—-36.6%—−100.0%+20% / unavailable

1- and 3-year price returns: for ARTV from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Scenarios are not available. input data missing

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (27 Oct 2026 · results).

In brief

Artiva Biotherapeutics develops off-the-shelf allogeneic NK cell therapies for B-cell driven autoimmune diseases, mainly refractory rheumatoid arthritis. In 2026 the company announced a Phase 3 design aligned with the FDA and a financing of about 300 million USD, which makes it relevant to the clinical stage of AlloNK 23.

SWOT

Strengths

  • Initial clinical data show deep B-cell depletion and no CRS or ICANS reported in the outpatient-administered cohort 23. The company has obtained accelerated regulatory designations and a study design aligned with the FDA 2.
  • A scalable, cryopreserved production process that may lower per-patient costs compared with autologous therapies 1.
  • A consolidated cash position after an underwritten offering that supports the Phase 3 plan 3.

Weaknesses

  • The company has no approved product and no product revenue, and losses continue 1.
  • The clinical data are preliminary, come from small studies and combine cohorts with different designs, which limits comparisons 23.
  • Dependence on one main product, AlloNK, exposes the company to clinical or manufacturing setbacks 1.

Opportunities

  • If the Phase 3 study in refractory rheumatoid arthritis confirms the benefit, the company could open an important market for patients who have failed several treatments 2.
  • Expansion into Sjögren disease, systemic sclerosis and myositis could broaden the indications for AlloNK 3.
  • Outpatient administration in community clinics could widen access to treatment and may reduce health system costs 13.

Threats

  • A failure of the Phase 3 study or regulatory delays could reduce the programme's value and force the company to scale back activities 12.
  • The need for additional funding may lead to shareholder dilution or agreements with restrictive conditions 1.
  • Competition from approved therapies and new treatment classes could limit market share 1.

Risks

  • Dependence on a single producthigh

    Most of the company's activities depend on AlloNK; safety, efficacy or manufacturing problems could affect all programmes 1.

  • Funding needshigh

    The company will need additional capital to complete studies and commercialization, and access to financing may be limited 13.

  • Regulatory riskmedium

    RMAT designation and FDA alignment do not guarantee clinical success or rapid approval, as the company itself notes 12.

  • Donor-to-donor variabilitymedium

    Primary cells vary between donors, which may complicate standardization and consistent production 1.

  • Development in new indicationslow

    The NK approach in autoimmune disease is novel with limited experience, and any adverse effects could change the development plan 1.

Investment thesis

What would need to be true (bull case)

  • If Phase 3 data confirm the response rate seen in the Phase 2a study, the company could have a fast path to approval in an indication with high medical need 23.
  • The safety profile reported so far, with outpatient administration and no CRS or ICANS, could become a competitive advantage over CAR-T therapies 13.
  • The cash position after the 2026 offering could cover the study plan without an immediate new round of funding, if spending stays stable 3.

What would break the thesis

  • The clinical data are still preliminary, with a small number of patients and short follow-up for many cases, which could change conclusions as the study expands 23.
  • The company keeps losing money and has no product revenue, so the outcome depends entirely on the success of a single programme 1.
  • If Phase 3 results are weaker than the company's expectations, the value of the programme could decline significantly 2.

What to watch

  • Start of the Phase 3 study in refractory rheumatoid arthritissecond half 2026
  • Final Phase 3 results and longer-term ACR50 ratesnext 10-K
  • Cash burn compared with the estimate of funding operations into 2029Q4 2026
  • Results for Sjögren disease and systemic sclerosis from sponsored studies2027

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (27 Oct 2026 · results).

The business

In 2026 the strategy centred on refractory rheumatoid arthritis, where AlloNK is given together with rituximab. The RMAT designation from June 2026 and the FDA alignment on a randomized study of about 150 patients support the registrational plan 23. If Phase 3 data confirm the benefit, the company could move toward a marketing application, but this step remains conditional on future clinical results 2.

Financially, Artiva reported cash, cash equivalents and investments of 349.4 million USD as of June 30, 2026, which it expects to fund operations into 2029 3. The net loss for the second quarter of 2026 was 25.0 million USD 3. The company is listed on Nasdaq as ARTV and is headquartered in San Diego, California 3.

Segments

AlloNK in refractory rheumatoid arthritis

This is the priority programme. The initial dataset includes 21 patients with at least 12 weeks of follow-up, and among patients with six months of follow-up the ACR50 response rate was 71% 23. The planned Phase 3 study targets about 150 patients with an inadequate response to at least two b/tsDMARD classes 2.

AlloNK in Sjögren disease and systemic sclerosis

Secondary programmes include Sjögren disease and systemic sclerosis, where the company reports clinical and functional improvements in patients followed for medium term 3. The data are more limited and come from small cohorts, so their interpretation stays cautious 3.

Market context

The company argues that a manufacturing cost of 3,000 to 12,000 USD per patient could allow more flexible pricing and payor coverage than autologous CAR-T, whose cost of goods exceeds 100,000 USD per treatment course 1. Its current facility could in principle treat about 1,000 patients per year 1. These are the company's own estimates and not commercial confirmations.

Trends

  • Substitution of CAR-T by allogeneic approachestailwind

    The limits of autologous CAR-T, such as cost, hospitalization and scalability, open room for off-the-shelf therapies, if outpatient safety evidence is confirmed 13.

  • Regulatory interest in cell therapiestailwind

    Fast Track and RMAT designations for AlloNK show that regulators are willing to accelerate development in serious indications, which could shorten the review timeline 2.

  • Intense competition in autoimmune diseaseheadwind

    Anti-CD20 antibodies, JAK inhibitors and T-cell engager technologies compete for the same patients, which may limit the market share of a new therapy 1.

  • Financing and dilutionmixed

    Reliance on equity financing for clinical studies can dilute shareholders, but the current cash position temporarily reduces this pressure 13.

Competitive position

Competition includes autologous CAR-T therapies already approved for haematological malignancies, as well as efforts to extend them to autoimmune diseases. T-cell engagers are another competing category, with advantages in patient access but higher safety risks 1.

Artiva argues that its edge lies in outpatient administration in community rheumatology clinics and in a much lower production cost 13. The sources, however, do not identify other direct competitors with comparable clinical data in the same indication 1.

  • Autologous CAR-T therapies (approved class)

    Autologous cell therapies that have shown deep B-cell depletion but with higher cost and hospitalization requirements 1.

  • T-cell engagers

    Alternative approach to B-cell depletion with advantages in accessibility and scalability but with documented safety risks 1.

  • Anti-CD20 antibodies

    The backbone therapy with which AlloNK is combined and a comparison standard in the Phase 3 study 23.

  • JAK inhibitors and other b/tsDMARDs

    Treatment classes approved for rheumatoid arthritis that define the refractory patient population the company targets 1.

News & filings

SEC filings

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Artiva Biotherapeutics, Inc. · 10 Mar 2026
  2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Artiva Biotherapeutics, Inc. · 06 Aug 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / Artiva Biotherapeutics, Inc. · 06 Aug 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.