Apogee Therapeutics (APGE) AI Stock Analysis

• Market Cap: $2.44B
• Dividend Yield: N/A
• Average Volume (3M): 614.04K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.63
• Revenue Growth: N/A
• EPS Growth: -94.92%
• Country: US
• Employees: 196
• Sector: Healthcare
• Sector Strength: 42
• Industry: Biotechnology
• EPS (TTM): -0.95
• Shares Outstanding: 46,047,417
• 10 Day Avg. Volume: 720,662
• 30 Day Avg. Volume: 614,043
• PEG Ratio: 0.56
• Price to Book (P/B): 2.15
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -13.72
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $91.17
• Price Target Upside: 122.47% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7

• Rating: 49 Neutral
• Price Target: ―

The overall score reflects the company's early-stage biotech position, with significant financial risks due to no revenue and high cash burn. Positive clinical trial results and a strong cash position are key strengths, but valuation concerns and technical analysis suggest caution.

Positive Factors

Clinical Program Success

Apogee provided positive business/financial updates highlighted by strong momentum in its APG777 clinical program for Atopic Dermatitis and positive ph 1b readout of APG808 in patients with mild-to-mod asthma.

Financial Position

Apogee reported financial results and business highlights for 1Q25, ending the quarter with a strong balance sheet with cash, cash equivalents, and marketable securities of $681.4M.

Market Research

Market research on APG777 highlights a strong preference for its potential quarterly dosing schedule compared to existing biologics, with 96% of patients on biologics indicating a willingness to switch to APG777.

Negative Factors

Market Competition

APGE showcased preclinical results suggesting the APG777/APG990 coformulation could yield efficacy similar to JAK inhibitors, without the associated safety liabilities such as MACE, thrombosis, and serious infections.

Safety Concerns

Safety remains a negative differentiator for rocatinlimab, with new data disclosing pyrexia and chills rates consistent with prior rates.

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 exhibits financial characteristics typical of an early-stage biotechnology firm. The company has zero revenue and increasing operational expenses, resulting in profitability challenges. It relies heavily on equity financing, maintaining a strong cash position, but faces risks from high cash burn and negative free cash flow.

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
Dec 2024	Dec 2023	Dec 2022
Income Statement		Total Revenue
0.00	0.00	0.00
	Gross Profit
0.00	0.00	0.00
	EBIT
-216.87M	-93.00M	-30.73M
	EBITDA
-216.87M	-83.98M	0.00
	Net Income Common Stockholders
0.00	-83.98M	-39.78M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
520.65M	395.46M	151.89M
	Total Assets
753.95M	401.40M	152.06M
	Total Debt
11.83M	2.03M	0.00
	Net Debt
-129.96M	-116.28M	-151.89M
	Total Liabilities
37.16M	21.49M	9.98M
	Stockholders Equity
716.79M	379.91M	-39.78M
Cash Flow		Free Cash Flow
-172.33M	-74.93M	-16.43M
	Operating Cash Flow
-171.17M	-74.76M	-16.43M
	Investing Cash Flow
-300.46M	-273.91M	0.00
	Financing Cash Flow
495.11M	315.39M	183.62K

Apogee Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 40.98
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• 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 40.98 is above the 20-day moving average (MA) of 38.71, above the 50-day MA of 36.76, and below the 200-day MA of 44.00, indicating a neutral trend. The MACD of 0.16 indicates Positive momentum. The RSI at 60.67 is Neutral, neither overbought nor oversold. The STOCH value of 46.05 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
LGND	55 Neutral	$2.04B	48.01	-16.56%	―	53.40%	-230.86%
TARS	54 Neutral	$1.85B	―	-33.98%	―	449.03%	42.86%
Sector *	54 Neutral	$5.31B	3.29	-45.39%	2.79%	16.77%	-0.07%
AAPG	49 Neutral	$2.44B	―	-253.16%	―	331.22%	59.40%
APGE	49 Neutral	$2.44B	―	-27.85%	―	―	-94.92%
BLTE	43 Neutral	$1.94B	―	-33.43%	―	―	4.80%
BHVN	40 Underperform	$1.74B	―	-316.82%	―	―	-65.63%

Apogee Therapeutics Corporate Events

Apogee Therapeutics Reports Positive Phase 1 Results

On March 3, 2025, Apogee Therapeutics announced positive interim Phase 1 results from its first-in-human trial of APG990, which exceeded trial objectives and demonstrated potential for extended dosing intervals. The company also reported significant progress in its pipeline, including the accelerated execution of the Phase 2 APEX clinical trial for APG777 and plans for further trials in asthma and eosinophilic esophagitis. Apogee’s strong financial position, with $731.1 million in cash and marketable securities, supports its operations into 2028, despite increased R&D and G&A expenses in 2024.