Adaptimmune Therapeutics (ADAPY) AI Stock Analysis

• Market Cap: $5.30M
• Dividend Yield: N/A
• Average Volume (3M): 50.65M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.58
• Revenue Growth: -53.61%
• EPS Growth: -93.14%
• Country: US
• Employees: 506
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): N/A
• Shares Outstanding: 265,051,600
• 10 Day Avg. Volume: 4,539,686
• 30 Day Avg. Volume: 50,649,310
• PEG Ratio: 0.04
• Price to Book (P/B): 11.47
• Price to Sales (P/S): 0.76
• P/FCF Ratio: -1.79
• Enterprise Value/Market Cap: 5.27
• Enterprise Value/Revenue: 0.43
• Enterprise Value/Gross Profit: 0.45
• Enterprise Value/Ebitda: -0.19
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: $0.03 ▲(6.67% Upside)
• Action: Upgraded Date: 12/25/25
• Date: Action: Upgraded 12/25/25

The score is primarily weighed down by weak financial performance, including steep revenue decline, ongoing losses, negative cash flows, and negative equity. Technicals also remain bearish with price below all key moving averages, though oversold indicators suggest potential near-term stabilization. Valuation provides limited support due to negative earnings and no dividend yield data.

Positive Factors

Gross Margin Strength

A 98% TTM gross margin suggests the SPEAR T‑cell platform can capture significant value per unit of revenue and offers high structural operating leverage. If clinical programs and partnerships scale, high gross margins support durable profitability expansion once fixed R&D costs are amortized.

Improving Free Cash Flow Trend

A large percentage increase in FCF signals improving cash generation dynamics and operational efficiency over the trailing period. Sustained improvement reduces reliance on external capital, lowering long‑term dilution risk and improving the company’s ability to fund clinical programs or commercial scale through internal resources or milder partnership terms.

Partnership-Driven Revenue Model

A collaborations-based model provides durable non-dilutive funding and de‑risks development by sharing costs and leveraging partner commercialization capabilities. Long‑term, strong partnerships can accelerate trials, provide milestone cash inflows, and create stable revenue streams if partnered assets progress to market.

Negative Factors

Steep Revenue Decline

A ~64% TTM revenue drop indicates material setbacks or lumpy partner payments that weaken revenue predictability. Persistent top‑line decline undermines ability to scale fixed investments, erodes bargaining leverage in partnerships, and constrains the timeline for converting high gross margins into sustainable operating profits.

Balance Sheet Solvency Risk

Negative equity reflects cumulative losses and creates structural solvency risk, limiting access to traditional debt and making equity financing dilutive. Over the medium term this can force reliance on partner funding or expensive capital, increasing strategic vulnerability and reducing flexibility to pursue multiple late‑stage programs.

Ongoing Losses and Negative Operating Cash Flow

Sustained negative EBIT and operating cash flow mean the business consumes cash to fund R&D and operations. This persistent burn increases dependency on external financing or milestone payments, raises dilution risk, and makes long‑term execution contingent on successful trials or partnerships rather than internal cash generation.

Adaptimmune Therapeutics Business Overview & Revenue Model

Company Description

Adaptimmune Therapeutics plc, a commercial-stage biopharmaceutical company, provides novel cell therapies primarily to cancer patients in the United States and the United Kingdom. It develops TECELRA ((famitresgene autoleucel or afami-cel), a genetically modified autologous T-cell immunotherapy for the treatment of adults with unresectable or metastatic synovial sarcoma; Lete-cel for the treatment synovial sarcoma and myxoid liposarcoma; and ADP-5701, which is in Phase 1 clinical trial for the treatment of head and neck cancer. The company also focuses on the development of T-cell therapies directed to PRAME (ADP-600) and CD70 (ADP-520). It has strategic collaboration with Galapagos to clinical proof-of-concept trial to evaluate the safety and efficacy of uza-cel produced on Galapagos' decentralized manufacturing platform (ADP-5701) in patients with head and neck cancer; collaboration and license agreement with Noile-Immune Biotech, Inc. and strategic alliance agreement with the MD Anderson Cancer Center. Adaptimmune Therapeutics plc was founded in 2008 and is headquartered in Abingdon, the United Kingdom.

How the Company Makes Money

Adaptimmune Therapeutics generates revenue primarily through collaborations and partnerships with pharmaceutical companies, which may include upfront payments, milestone payments, and royalties on future sales of therapies developed in partnership. The company may also earn revenue from clinical trial agreements and grants that support its research and development efforts. Additionally, any successful commercialization of its SPEAR T-cell therapies could lead to significant revenue through product sales, particularly if these therapies gain regulatory approval and are adopted widely in clinical settings.

Adaptimmune Therapeutics Financial Statement Overview

Summary

Weak fundamentals: sharp TTM revenue decline (-63.77%), negative net/EBIT margins, negative operating and free cash flow, and a concerning balance sheet with negative stockholders’ equity, indicating elevated solvency risk despite high gross margin.

Income Statement

Adaptimmune Therapeutics has experienced significant revenue volatility, with a sharp decline in TTM revenue growth of -63.77%. The company maintains a high gross profit margin of 98.06% in TTM, but this is overshadowed by negative net profit margins and EBIT margins, indicating ongoing operational challenges and profitability issues.

Balance Sheet

The balance sheet reveals a concerning financial structure with a negative stockholders' equity in TTM, leading to a negative debt-to-equity ratio. The return on equity is also negative, reflecting substantial losses relative to equity. These factors suggest financial instability and potential solvency risks.

Cash Flow

Cash flow analysis shows a significant free cash flow growth of 73.93% in TTM, but the company still faces negative operating cash flow and free cash flow figures. The operating cash flow to net income ratio is negative, indicating cash flow challenges relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	65.08M	178.03M	60.28M	27.15M	6.15M	3.96M
Gross Profit	61.70M	177.96M	50.42M	-100.58M	-104.94M	-87.61M
EBITDA	-149.75M	-52.66M	-128.20M	-155.59M	-155.68M	-125.81M
Net Income	-169.76M	-70.81M	-113.87M	-165.46M	-158.09M	-130.09M
Balance Sheet
Total Assets	130.63M	245.96M	282.62M	328.92M	469.55M	451.14M
Cash, Cash Equivalents and Short-Term Investments	26.06M	151.60M	146.94M	204.60M	369.58M	368.22M
Total Debt	48.68M	74.21M	25.23M	23.08M	25.47M	23.71M
Total Liabilities	201.59M	234.11M	243.10M	247.04M	263.58M	109.92M
Stockholders Equity	-70.96M	11.85M	39.51M	81.88M	205.96M	341.23M
Cash Flow
Free Cash Flow	-191.71M	-75.93M	-145.76M	-171.51M	1.95M	-56.50M
Operating Cash Flow	-190.03M	-73.21M	-140.88M	-141.77M	10.73M	-53.59M
Investing Cash Flow	1.79M	-58.95M	176.54M	89.14M	75.80M	-278.92M
Financing Cash Flow	1.34M	78.75M	880.00K	12.87M	3.29M	340.05M

Adaptimmune Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.03
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADAPY, the sentiment is Negative. The current price of 0.03 is above the 20-day moving average (MA) of 0.03, below the 50-day MA of 0.03, and below the 200-day MA of 0.12, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 28.35 is Positive, neither overbought nor oversold. The STOCH value of 52.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ADAPY.

Adaptimmune 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%
XLO	49 Neutral	$41.93M	-0.87	-908.28%	―	588.40%	61.76%
SNTI	48 Neutral	$24.19M	-0.27	-394.62%	―	―	78.60%
ADAPY	44 Neutral	$5.30M	-0.04	-1341.37%	―	-53.61%	-93.14%
BCAB	44 Neutral	$10.48M	-0.14	―	―	-100.00%	32.37%