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Imagion Biosystems Ltd. (AU:IBX)
ASX:IBX
Australian Market

Imagion Biosystems Ltd. (IBX) AI Stock Analysis

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AU:IBX

Imagion Biosystems Ltd.

(Sydney:IBX)

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Neutral 49 (OpenAI - 5.2)
Rating:49Neutral
Price Target:
AU$0.03
▼(-10.00% Downside)
The score is primarily constrained by weak financial health—negative equity, ongoing losses, and continued cash burn—despite strong revenue growth. Technicals are supportive with a clear uptrend, but overbought indicators increase near-term risk. Valuation is difficult to justify with negative earnings and no dividend data.
Positive Factors
Revenue Growth
Sustained near-doubling of revenue demonstrates meaningful market traction for the company’s imaging products, supporting longer-term commercial viability. Robust top-line growth can fund R&D and scale operations if sustained, improving prospects for clinical adoption and partner interest.
Improving Gross Margin
An improving gross margin points to better unit economics and progress on cost structure or pricing. If maintained, this supports margin sustainability as volumes rise, enabling a clearer path toward operating leverage and eventual profitability as commercialization ramps.
Oncology-focused Imaging Platform
A focused product strategy targeting cancer imaging aligns with durable structural demand in oncology diagnostics and treatment monitoring. Specialization can create clinical differentiation, facilitate regulatory and payer engagement, and attract strategic partnerships in a high-value therapeutic area.
Negative Factors
Negative Equity
Negative equity signals cumulative losses and solvency risk, constraining financial flexibility. Over the medium term this raises refinancing risk, increases cost of capital, and can limit ability to invest in commercialization or R&D without dilutive or costly financing.
Negative Operating Cash Flow
Persistent negative operating cash flows indicate the core business is not yet self-sustaining and requires external funding. Reliance on financing to cover cash burn undermines long-term stability and creates execution risk if capital markets tighten or future funding terms worsen.
Persistent Losses
Ongoing negative net income and margins imply the company has not converted revenue growth into profit. Continued losses pressure working capital and hamper reinvestment capacity, making profitable scaling and durable margin improvement an execution challenge over the next several quarters.

Imagion Biosystems Ltd. (IBX) vs. iShares MSCI Australia ETF (EWA)

Imagion Biosystems Ltd. Business Overview & Revenue Model

Company DescriptionImagion Biosystems Limited provides medical imaging technologies based on superparamagnetic relaxometry for cancer and disease detection, and monitoring therapy. It has activities in nanotechnology; biotechnology; cancer diagnostics; and superparamagnetic relaxometry. The company develops MagSense, which is in Phase I clinical trials for the treatment of HER2 breast cancers; and PrecisionMRX, an iron oxide nanoparticle to detect cancer. Imagion Biosystems Limited has a collaborative research program with Patrys Limited to use the combined technologies for enhancing brain tumor imaging and diagnosis; and a joint development agreement with Global Cancer Technology, Inc. to develop GCT's novel nanoscintillator technology for the treatment of breast cancer. The company was incorporated in 2016 and is based in San Diego, California.
How the Company Makes MoneyImagion Biosystems generates revenue through the commercialization of its imaging technologies and services. The company's primary revenue streams include the sale of its proprietary imaging systems, licensing agreements for its technology, and partnerships with healthcare institutions for research and clinical applications. Additionally, IBX may receive funding through grants, collaborations with pharmaceutical companies for clinical trials, and strategic alliances that facilitate access to new markets and enhance its product offerings. These partnerships are crucial as they not only provide financial support but also validate the efficacy of IBX's technologies in real-world applications.

Imagion Biosystems Ltd. Financial Statement Overview

Summary
Imagion Biosystems Ltd. is experiencing impressive revenue growth, yet faces significant challenges with profitability and financial stability. Persistent negative equity and high leverage pose substantial risks, while negative cash flows indicate operational sustainability issues.
Income Statement
45
Neutral
The company shows substantial revenue growth, with a 94.9% increase from the previous period, indicating strong top-line expansion. However, persistent negative net income and EBIT margins suggest ongoing challenges in achieving profitability. The gross profit margin has improved significantly but remains under pressure, indicating cost management issues.
Balance Sheet
30
Negative
The balance sheet reveals a concerning negative equity position, indicating financial instability. High debt levels relative to equity suggest significant leverage risks. Despite these issues, the company has managed to maintain cash reserves, albeit declining over time, reflecting potential liquidity challenges.
Cash Flow
40
Negative
Operating cash flow remains negative, highlighting difficulties in generating cash from core operations. While there is a notable improvement in free cash flow, it still remains negative, reflecting ongoing cash burn. The reliance on financing cash flows to sustain operations indicates potential sustainability issues.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue1.06M2.67M1.08M473.43K232.87K205.72K
Gross Profit376.04K2.26M-279.83K-3.14M-2.47M-2.66M
EBITDA-1.31M-700.09K-10.30M-11.03M-5.62M-7.16M
Net Income-2.20M-2.07M-12.47M-9.81M-6.02M-5.36M
Balance Sheet
Total Assets932.48K2.80M4.59M9.98M14.12M14.12M
Cash, Cash Equivalents and Short-Term Investments883.57K2.67M227.08K4.45M13.39M13.20M
Total Debt3.30M2.85M6.04M4.60M46.02K660.98K
Total Liabilities4.80M5.09M8.37M5.30M809.88K1.21M
Stockholders Equity-3.87M-2.28M-3.79M4.68M13.31M12.91M
Cash Flow
Free Cash Flow-2.89M-1.27M-8.51M-9.21M-5.29M-4.63M
Operating Cash Flow-2.89M-1.27M-8.32M-8.70M-5.07M-4.62M
Investing Cash Flow0.0083.74K-190.38K-468.73K-310.09K-7.86K
Financing Cash Flow3.39M3.61M4.29M-962.06K5.15M14.52M

Imagion Biosystems Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.03
Price Trends
50DMA
0.02
Positive
100DMA
0.03
Positive
200DMA
0.02
Positive
Market Momentum
MACD
<0.01
Negative
RSI
77.67
Negative
STOCH
46.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:IBX, the sentiment is Positive. The current price of 0.03 is above the 20-day moving average (MA) of 0.03, above the 50-day MA of 0.02, and above the 200-day MA of 0.02, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 77.67 is Negative, neither overbought nor oversold. The STOCH value of 46.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:IBX.

Imagion Biosystems Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
64
Neutral
AU$49.30M26.1798.18%11.93%2.39%
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
49
Neutral
AU$13.25M-2.39-47.02%94.37%
46
Neutral
AU$225.85M-16.15-111.23%12.96%40.81%
45
Neutral
AU$47.85M-6.31-97.79%23.85%
38
Underperform
AU$54.90M-6.18-37.78%2.33%12.50%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:IBX
Imagion Biosystems Ltd.
0.03
<0.01
36.84%
AU:BDX
BCAL Diagnostics Limited
0.13
0.04
38.89%
AU:LDX
Lumos Diagnostics Holdings Ltd.
0.26
0.21
420.00%
AU:CTE
Cryosite Limited
1.01
0.29
40.28%
AU:IIQ
Inoviq Ltd
0.39
-0.08
-16.30%

Imagion Biosystems Ltd. Corporate Events

Imagion Biosystems Issues New Shares on Mercer Note Conversion, Flags Imminent HER2+ Trial Filing
Jan 8, 2026

Imagion Biosystems has issued 3,048,484 new fully paid ordinary shares at a deemed price of 2.5 cents each following the conversion of 76,212 convertible notes held under its agreement with Mercer Street Global Opportunity Fund, LLC, leaving Mercer with a remaining balance of 2,750,000 convertible notes. In conjunction with the cleansing notice provided under Section 708A of the Corporations Act, the board reiterated that it expects to lodge its IND submission for the HER2+ Phase 2 clinical trial with the US FDA in the near term, signalling ongoing progress in its clinical development pipeline while maintaining compliance with continuous disclosure obligations.

The most recent analyst rating on (AU:IBX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Imagion Biosystems Ltd. stock, see the AU:IBX Stock Forecast page.

Imagion Biosystems Seeks ASX Quotation for 3.0 Million New Shares
Jan 8, 2026

Imagion Biosystems Limited has applied to the ASX for quotation of 3,048,484 new fully paid ordinary shares, issued on 8 January 2026 following the exercise of options or conversion of other securities. The additional quotation expands the company’s listed capital base and may modestly enhance liquidity in its shares, signalling ongoing utilisation of existing equity-based instruments and incremental capital formation that could support its operational and development activities.

The most recent analyst rating on (AU:IBX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Imagion Biosystems Ltd. stock, see the AU:IBX Stock Forecast page.

Imagion Biosystems Extinguishes First Mercer Tranche and Restructures Second Convertible Note
Jan 7, 2026

Imagion Biosystems has completed the conversion of the remaining first tranche of its convertible notes with Mercer Street Global Opportunity Fund, issuing 3,048,484 ordinary shares and fully extinguishing the A$1.65 million tranche, thereby simplifying its capital structure. The company has also renegotiated terms on the A$1.1 million second tranche, making a A$300,000 payment to reduce the outstanding balance to A$558,000, extending the maturity to 28 February 2026, and agreeing that any remaining balance at that date will be mandatorily converted into shares at the contractual conversion price, signalling continued support from Mercer Street and providing greater visibility over Imagion’s near-term financing as it advances its MagSense® cancer imaging technology.

The most recent analyst rating on (AU:IBX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Imagion Biosystems Ltd. stock, see the AU:IBX Stock Forecast page.

Imagion Biosystems Director Reshapes Equity Holdings With Share Acquisition and Rights Lapse
Jan 6, 2026

Imagion Biosystems has disclosed a change in director Robert Romeo Proulx’s interests, with the acquisition of 1.4 million ordinary shares and the lapse or disposal of 1.4 million unlisted performance rights tied to market capitalisation milestones. The reshaping of Proulx’s holdings, which now tilt more toward ordinary equity and away from certain performance-based rights, may slightly alter the incentive mix for the director but does not signal a change to the company’s broader operational or clinical strategy.

The most recent analyst rating on (AU:IBX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Imagion Biosystems Ltd. stock, see the AU:IBX Stock Forecast page.

Imagion Biosystems Issues New Shares on Vesting of Performance Rights, Reaffirms Imminent HER2+ FDA Filing
Jan 6, 2026

Imagion Biosystems has issued 1.4 million fully paid ordinary shares at a deemed price of 2.2 cents each following the vesting of performance rights granted to Executive Chairman Robert Proulx, and has lodged a cleansing notice under Section 708A of the Corporations Act to confirm the shares were issued without a disclosure document and that the company remains compliant with its continuous disclosure and reporting obligations. The board also reiterated that, consistent with prior disclosures, the Phase 2 clinical trial Investigational New Drug submission for its HER2+ program is expected to be filed with the US Food and Drug Administration in the near term, signalling progress in its clinical development pipeline alongside modest equity issuance to management.

The most recent analyst rating on (AU:IBX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Imagion Biosystems Ltd. stock, see the AU:IBX Stock Forecast page.

Imagion Biosystems Seeks ASX Quotation for 1.4 Million New Shares
Jan 6, 2026

Imagion Biosystems Limited has applied to the ASX for quotation of 1.4 million new ordinary fully paid shares, to be traded under its existing ticker symbol IBX. The new securities, issued on 29 December 2025 following the exercise or conversion of existing options or other convertible securities, modestly increase the company’s listed share capital and provide additional liquidity for shareholders, though the announcement does not disclose any broader strategic or operational changes tied to this issuance.

The most recent analyst rating on (AU:IBX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Imagion Biosystems Ltd. stock, see the AU:IBX Stock Forecast page.

Imagion Biosystems Updates Securities Trading Policy
Dec 18, 2025

Imagion Biosystems announced an update to its Securities Trading Policy, adhering to ASX Listing Rules to ensure confidence in its operations and securities trading. The revision reflects the company’s commitment to transparency and regulatory compliance, potentially strengthening its credibility among stakeholders and investors.

The most recent analyst rating on (AU:IBX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Imagion Biosystems Ltd. stock, see the AU:IBX Stock Forecast page.

Imagion Biosystems Issues New Shares to Support Cancer Detection Technology
Dec 15, 2025

Imagion Biosystems has issued 8 million new ordinary shares following the conversion of notes under its agreement with Mercer Street Global Opportunity Fund, LLC. This move is part of the company’s ongoing financial strategy to support its operations and enhance its market position in the healthcare industry, particularly in the early detection of cancer.

The most recent analyst rating on (AU:IBX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Imagion Biosystems Ltd. stock, see the AU:IBX Stock Forecast page.

Imagion Biosystems Announces Cessation of Securities
Dec 10, 2025

Imagion Biosystems Ltd. announced the cessation of 25,000 performance rights due to the expiry of options or other convertible securities without exercise or conversion as of November 30, 2025. This announcement may impact the company’s capital structure and could have implications for stakeholders regarding the company’s financial strategies and market positioning.

The most recent analyst rating on (AU:IBX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Imagion Biosystems Ltd. stock, see the AU:IBX Stock Forecast page.

Imagion Biosystems Issues Cleansing Notice for New Share Issuance
Dec 4, 2025

Imagion Biosystems has issued a cleansing notice for 10,000,000 new ordinary shares as part of a Convertible Securities Agreement with Mercer Street Global Opportunity Fund, LLC. This issuance is part of their compliance with the Corporations Act, ensuring transparency and adherence to regulatory requirements. The move is expected to bolster Imagion’s financial position, potentially enhancing its market presence and operational capabilities in the medical imaging sector.

The most recent analyst rating on (AU:IBX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Imagion Biosystems Ltd. stock, see the AU:IBX Stock Forecast page.

Imagion Biosystems Ltd. Issues 10 Million New Securities
Dec 4, 2025

Imagion Biosystems Ltd. has announced the issuance of 10 million new ordinary fully paid securities, which will be quoted on the Australian Securities Exchange (ASX) under the code IBX. This move is part of the company’s strategy to enhance its capital base, potentially strengthening its market position and providing additional resources for ongoing research and development efforts.

The most recent analyst rating on (AU:IBX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Imagion Biosystems Ltd. stock, see the AU:IBX Stock Forecast page.

Imagion Biosystems Advances MagSense® HER2 Breast Cancer Trial
Dec 1, 2025

Imagion Biosystems Ltd. announced the completion of key milestones in its collaboration with Wayne State University, leading to the finalization of the Phase 2 study protocol for its MagSense® HER2 Breast Cancer clinical trial. The company plans to submit an Investigational New Drug application to the FDA in December 2025, with the trial expected to commence in early 2026. The collaboration has resulted in a reduced dose of the imaging agent, optimized MRI sequences, and the potential for AI-ready imaging data, enhancing patient safety and trial efficiency while reducing costs and improving clinical workflow.

The most recent analyst rating on (AU:IBX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Imagion Biosystems Ltd. stock, see the AU:IBX Stock Forecast page.

Imagion Biosystems Advances HER2 Breast Cancer Imaging with Positive Phase 2 Trial Results
Nov 5, 2025

Imagion Biosystems has announced positive results from its collaboration with Wayne State University on the MagSense® HER2 Imaging Agent, which is a significant step towards their Phase 2 clinical trial for HER2 breast cancer. The study indicates that a lower dose of the imaging agent is detectable, potentially improving patient safety and care experience. Additionally, optimized imaging protocols and the integration of AI-ready imaging data suggest advancements in diagnostic precision. The company remains on track to submit its Investigational New Drug application to the FDA by the end of 2025, with the Phase 2 study expected to commence in early 2026, pending regulatory approval.

Imagion Biosystems Advances HER2 Breast Cancer Imaging Program
Oct 21, 2025

Imagion Biosystems Ltd. announced significant progress in its MagSense® HER2 breast cancer imaging agent program, with plans to file an Investigational New Drug (IND) application with the FDA in Q4 2025. The company has received positive feedback from the FDA, completed a $3.5M capital raising to fund the IND submission and initiate a Phase 2 clinical trial, and achieved a major milestone in manufacturing the MagSense® imaging agent. Additionally, Imagion has entered a collaboration with Wayne State University to optimize MRI protocols and appointed Dr. Nina Webster as a Non-Executive Director to strengthen its strategic capabilities.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 06, 2026