uniQure N.V. reported sustained operating losses and negative operating cash flow in 2025, reflecting high R&D investment in its gene therapy pipeline. The company’s primary revenue derives from licensing agreements with CSL Behring for HEMGENIX, supported by a significant royalty financing arrangement. Regulatory setbacks, notably the FDA’s rejection of AMT-130 Phase I/II data, have delayed clinical progress and affected near-term prospects. UniQure maintains solid liquidity and a strong current ratio, but long-term growth depends on successful clinical advancement, milestone achievements, and prudent capital allocation within a governance framework shaped by Dutch corporate law.