Apogee Therapeutics (APGE) AI Stock Analysis

• Market Cap: $5.29B
• Dividend Yield: N/A
• Average Volume (3M): 935.39K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.21
• Revenue Growth: N/A
• EPS Growth: -58.35%
• Country: US
• Employees: 196
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.11
• Shares Outstanding: 54,833,588
• 10 Day Avg. Volume: 959,155
• 30 Day Avg. Volume: 935,394
• PEG Ratio: -0.14
• Price to Book (P/B): 3.49
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -14.51
• Enterprise Value/Market Cap: 0.34
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -4.54K
• Enterprise Value/Ebitda: -6.59
• 1Y Price Target: $102.50
• Price Target Upside: 32.29% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 14
• EPS Forecast (FY): -4.96
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: $83.00 ▲(7.12% Upside)

Score is primarily supported by strong technical momentum and positive, pipeline-advancing corporate events alongside recent financing. Offsetting these positives, financial performance is constrained by no revenue, widening losses, and substantial cash burn, with valuation also limited by negative earnings and no dividend support.

Positive Factors

Positive Phase 1b Clinical Data

Robust, durable biomarker suppression and favorable safety in Phase 1b provide durable clinical validation of the mechanism of action. Such pharmacodynamic durability supports less-frequent dosing claims and strengthens the scientific basis for advancing multiple indications over the next 2–4 years.

Differentiated Biologic Design

A half-life–extended IL-13 antibody that shows multi-month PD effects can offer structural competitive advantages versus existing biologics through improved dosing convenience, potential adherence benefits, and lower administration costs, enhancing commercial appeal across dermatology and respiratory markets.

Substantial Financing and Runway

A large financing that extends runway into H2 2028 materially reduces near-term solvency risk and gives management time to execute an aggressive 2026 clinical agenda. This financial flexibility allows multiple Phase 2/Phase 3 starts without immediate commercialization pressure.

Negative Factors

Pre-revenue Business Model

Operating as a pre-revenue clinical-stage biotech means long lead times to commercialization and persistent dependence on external capital. Without product sales, the company cannot demonstrate margin sustainability or internal cash generation, leaving valuation reliant on trial outcomes.

High and Worsening Cash Burn

Sustained, sizable negative operating and free cash flow implies ongoing financing needs. Even with recent financing, the cash burn trajectory raises dilution and execution risk if timelines slip or trial costs rise, making long-term capital planning and milestone delivery critical.

Rapidly Widening Losses

Steeply increasing net losses reflect aggressive R&D investment and scale-up costs; while necessary for development, this trend depresses returns on equity and heightens sensitivity to clinical setbacks. Continued losses will pressure future financing and shareholder dilution absent successful readouts.

Apogee Therapeutics Business Overview & Revenue Model

Company Description

Apogee Therapeutics, Inc., through its subsidiary, operates as a biotechnology company that develops biologics for the treatment of atopic dermatitis (AD), chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications. The company primarily develops APG777, a subcutaneous (SQ) extended half-life monoclonal antibody (mAb) for AD; and APG808, an SQ extended half-life mAb for COPD. Its earlier-stage programs include APG990, an SQ extended half-life mAb for the treatment of AD; and APG222, an extended half-life SQ antibodies for AD. The company was founded in 2022 and is based in Waltham, Massachusetts.

How the Company Makes Money

Apogee Therapeutics makes money primarily through the development and commercialization of its proprietary drug candidates. The company generates revenue through partnerships and collaborations with other pharmaceutical companies, licensing agreements, and potential milestone payments related to the successful development and commercialization of its therapies. Additionally, Apogee may earn revenue from selling its developed therapeutics once they receive regulatory approval and are brought to market.

Apogee Therapeutics Financial Statement Overview

Summary

Apogee Therapeutics is typical of early-stage biotech firms with no revenue and increasing operational expenses. The company relies heavily on equity financing, reflected in low debt and strong cash positions. However, the absence of revenue and high cash burn present significant risks.

Income Statement

Apogee Therapeutics has reported zero revenue over the past three years, which is typical for early-stage biotechnology firms focusing on research and development. The company’s EBIT and EBITDA have significantly worsened, reflecting increased operational expenses without revenue offset. The absence of revenue growth and negative net income margins highlight substantial profitability challenges.

Balance Sheet

The balance sheet shows a strong equity position with a substantial increase in stockholders’ equity, driven by financing activities likely tied to capital raises. The debt-to-equity ratio remains low, indicating minimal leverage. However, total assets are primarily composed of cash and equivalents, which could indicate a lack of diversification in asset allocation.

Cash Flow

The company’s cash flow statement shows significant reliance on financing activities to fund operations, typical for biotech companies in the development phase. Operating cash flow is negative, consistent with its stage, but free cash flow has deteriorated, indicating increasing cash burn rates. This trend could pose liquidity risks if external funding becomes challenging.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	0.00	0.00	0.00	0.00
Gross Profit	-400.00K	0.00	0.00	0.00
EBITDA	-276.02M	-216.68M	-74.97M	-39.78M
Net Income	-253.67M	-182.15M	-83.98M	-39.78M
Balance Sheet
Total Assets	626.16M	753.95M	401.40M	152.06M
Cash, Cash Equivalents and Short-Term Investments	527.29M	520.65M	395.46M	151.89M
Total Debt	9.85M	11.83M	2.03M	0.00
Total Liabilities	39.82M	37.16M	21.49M	9.98M
Stockholders Equity	586.34M	716.79M	379.91M	142.07M
Cash Flow
Free Cash Flow	-237.56M	-172.33M	-74.93M	-16.43M
Operating Cash Flow	-232.47M	-171.17M	-74.76M	-16.43M
Investing Cash Flow	155.42M	-300.46M	-273.91M	0.00
Financing Cash Flow	65.90M	495.11M	315.39M	168.32M

Apogee Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 77.48
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For APGE, the sentiment is Positive. The current price of 77.48 is above the 20-day moving average (MA) of 76.95, above the 50-day MA of 69.35, and above the 200-day MA of 47.09, indicating a bullish trend. The MACD of 2.22 indicates Positive momentum. The RSI at 60.32 is Neutral, neither overbought nor oversold. The STOCH value of 72.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for APGE.

Apogee Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
APGE	65 Neutral	$5.29B	-17.94	-38.41%	―	―	-58.35%
OCUL	55 Neutral	$2.42B	-7.92	-81.83%	―	-9.21%	-8.84%
LQDA	54 Neutral	$2.76B	-22.21	-183.82%	―	343.41%	11.91%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IDYA	50 Neutral	$3.19B	-19.64	-14.15%	―	5376.27%	20.97%
AGIO	48 Neutral	$1.64B	-4.05	-27.57%	―	36.26%	-158.98%
GLPG	47 Neutral	$2.17B	-4.43	-16.45%	―	―	―

Apogee Therapeutics Corporate Events

Apogee Therapeutics Reports Positive Phase 1b Asthma Results

On January 6, 2026, Apogee Therapeutics reported positive interim results from a Phase 1b trial of its anti-IL-13 antibody zumilokibart (APG777) in 19 adults with mild-to-moderate asthma and Type 2 inflammation, showing a favorable safety profile, robust and durable suppression of FeNO—a key biomarker linked to asthma exacerbations—through at least 16 weeks for all patients and up to 32 weeks in those with longer follow-up, along with encouraging trends in lung function and other Type 2 biomarkers. The company also highlighted cross-indication signals from its APEX Phase 2 atopic dermatitis program, laid out an aggressive 2026 clinical agenda including multiple Phase 2 data readouts, a planned Phase 3 start in atopic dermatitis by the second half of 2026, and an expanded head-to-head Phase 1b trial of its IL-13/OX40L combination APG279 versus Dupixent, positioning zumilokibart as a potential “pipeline-in-a-product” across dermatology and respiratory markets and reinforcing Apogee’s capacity—backed by long cash runway—to move toward a possible 2029 launch in atopic dermatitis and broader expansion in inflammatory and immunology diseases.

The most recent analyst rating on (APGE) stock is a Hold with a $81.00 price target. To see the full list of analyst forecasts on Apogee Therapeutics stock, see the APGE Stock Forecast page.

Apogee Therapeutics Announces Positive Phase 1 Results

On November 10, 2025, Apogee Therapeutics announced positive interim Phase 1 results for APG333, which exceeded trial objectives and demonstrated potential for 3- and 6-month dosing. The company also reported financial results for the third quarter of 2025, highlighting a strong cash position following a $345 million public offering, which supports operations into the second half of 2028. Apogee is advancing its pipeline with several key readouts expected in 2026, positioning itself for significant progress in the treatment of inflammatory and immunology diseases.

The most recent analyst rating on (APGE) stock is a Buy with a $109.00 price target. To see the full list of analyst forecasts on Apogee Therapeutics stock, see the APGE Stock Forecast page.

Apogee Therapeutics Raises $323.3 Million in Offering

On October 8, 2025, Apogee Therapeutics entered into an underwriting agreement to issue and sell shares and pre-funded warrants, raising approximately $323.3 million. The offering is expected to close on October 10, 2025. The company also updated its clinical trial milestones, with increased patient enrollment for its APEX Phase 2 trial and expected data reports in 2026 for both atopic dermatitis and asthma trials.

The most recent analyst rating on (APGE) stock is a Buy with a $82.00 price target. To see the full list of analyst forecasts on Apogee Therapeutics stock, see the APGE Stock Forecast page.