Molecular Partners AG (MOLN) AI Stock Analysis

• Market Cap: $141.92M
• Dividend Yield: N/A
• Average Volume (3M): 17.77K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.35
• Revenue Growth: -100.00%
• EPS Growth: 14.45%
• Country: CH
• Employees: 158
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.55
• Shares Outstanding: 40,374,640
• 10 Day Avg. Volume: 21,556
• 30 Day Avg. Volume: 17,775
• PEG Ratio: 0.16
• Price to Book (P/B): 0.98
• Price to Sales (P/S): 27.80
• P/FCF Ratio: -2.30
• Enterprise Value/Market Cap: 0.36
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -5.70
• Enterprise Value/Ebitda: -0.87
• 1Y Price Target: $2.99
• Price Target Upside: -14.96% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: CHF3.50 ▼(-0.57% Downside)

The score is held down primarily by weak financial performance (zero TTM revenue, sizable losses, and ongoing cash burn) and a shrinking equity base, despite low leverage. Technicals are neutral-to-slightly positive (price above key longer-term averages with mildly positive MACD), but valuation remains pressured by negative earnings and no dividend support.

Positive Factors

Innovative Technology Platform

The proprietary DARPins platform allows for the development of targeted therapies, enhancing treatment efficacy and safety, which is a strong competitive advantage in the biotech industry.

Strategic Partnerships

Strategic partnerships with major pharmaceutical firms provide access to additional resources and expertise, which can accelerate the development and commercialization of new therapies.

Pipeline Advancement

The advancement of MP0712 into clinical trials represents progress in the pipeline, potentially leading to new treatment options and revenue streams if successful.

Negative Factors

Declining Revenues

Persistent revenue declines indicate challenges in monetizing the pipeline, which could affect long-term financial sustainability and operational funding.

Cash Flow Issues

Negative cash flow reflects ongoing cash burn, which can strain resources and necessitate additional financing, impacting long-term operational stability.

Profitability Concerns

Sustained losses and negative margins highlight profitability challenges, which could hinder the company's ability to reinvest in R&D and growth initiatives.

Molecular Partners AG Business Overview & Revenue Model

Company Description

Molecular Partners AG operates as a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic proteins. Its products candidates include Abicipar, a DARPin therapeutic candidate, which is in Phase III clinical trials for the treatment of neovascular wet age-related macular degeneration, as well as for diabetic macular edema; and MP0420, a multi-specific DARPin therapeutic candidate for the SARS-CoV-2 virus. The company develops MP0310, which is in Phase Ia clinical trials for immuno-oncology; MP0317, a tumor-localized immune agonist that activates immune cells in the tumor, which is in Phase I clinical trials; and MP0274 that is in Phase I clinical trials for HER2-positive cancers. It also develops MP0423 for treating COVID-19; MP0533, a CD3 T cell candidate for acute myeloid leukemia; and MP0250 for vascular endothelial growth factor, hepatocyte growth factor, and human serum albumin to increase half-life. Molecular Partners AG has agreements and collaboration with Novartis AG to develop, manufacture, and commercialize DARPin-conjugated radioligand therapies; Amgen SA; Allergan, Inc.; and discovery alliance with AbbVie Inc. in ophthalmology, as well as other third-party collaborators. The company was incorporated in 2004 and is headquartered in Schlieren, Switzerland.

How the Company Makes Money

Molecular Partners generates revenue primarily through a combination of licensing agreements, collaborations with pharmaceutical companies, and potential milestone payments associated with the development of its therapeutic candidates. The company often enters into partnerships that allow it to co-develop drugs, which can provide upfront payments and royalties on future sales. Additionally, if its drug candidates receive regulatory approval, the company can earn significant milestone payments from partners. The monetization of its DARPins technology through these collaborations is a critical aspect of its revenue model, alongside potential future product sales.

Molecular Partners AG Financial Statement Overview

Summary

Overall financials are weak: TTM revenue is zero with a large net loss (~-60M) and negative operating/free cash flow (~-53M/~-54M), indicating continued cash burn. The balance sheet is a relative positive with very low leverage (debt-to-equity ~1.6%), but equity has fallen sharply (from ~235M in 2022 to ~96M TTM), reflecting ongoing losses and shrinking capital base.

Income Statement

Profitability is weak in TTM (Trailing-Twelve-Months), with revenue at zero and a large net loss (about -60M), indicating heavy ongoing spend without offsetting product/partner income. Results have also deteriorated versus 2022, when the company posted very strong revenue (~190M) and substantial profits, highlighting high volatility and dependence on non-recurring or uneven revenue sources. The main positive is that losses have been relatively consistent in the ~54M–64M range in most years outside 2022, which suggests a steady cost base, but the lack of revenue traction in the most recent period is a major concern.

Balance Sheet

The balance sheet is a relative strength: leverage is very low (debt-to-equity ~1.6% in TTM (Trailing-Twelve-Months)), providing flexibility and lowering refinancing risk. However, equity has declined meaningfully from 2022 to TTM (from ~235M to ~96M), consistent with sustained losses and cash burn, and returns on equity are sharply negative in recent periods. Overall, the company is not over-levered, but the capital base is shrinking.

Cash Flow

Cash generation is weak, with negative operating cash flow in TTM (Trailing-Twelve-Months) (about -53M) and negative free cash flow (about -54M), implying continued cash burn to fund operations. Cash burn is broadly similar to 2023–2024 levels and improved versus 2021 (when operating cash outflow was ~-91M), but it remains materially negative. A key risk is sustainability: without a rebound in revenue or external funding, ongoing negative free cash flow can further pressure the balance sheet over time.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	4.97M	7.04M	189.56M	9.33M	9.34M
Gross Profit	-8.88M	-42.53M	-40.81M	138.81M	-46.39M	-46.73M
EBITDA	-58.01M	-51.63M	-59.52M	119.00M	-60.66M	-59.58M
Net Income	-60.24M	-54.04M	-61.98M	117.85M	-63.78M	-62.76M
Balance Sheet
Total Assets	112.15M	158.53M	198.35M	262.26M	172.67M	187.55M
Cash, Cash Equivalents and Short-Term Investments	104.52M	149.44M	186.89M	249.14M	132.81M	173.72M
Total Debt	1.53M	2.44M	3.65M	4.85M	6.04M	7.22M
Total Liabilities	16.62M	16.89M	21.92M	27.09M	65.38M	80.33M
Stockholders Equity	95.53M	141.64M	176.43M	235.17M	107.29M	107.22M
Cash Flow
Free Cash Flow	-54.01M	-59.97M	-59.81M	117.15M	-92.26M	-30.67M
Operating Cash Flow	-53.30M	-59.25M	-59.01M	118.57M	-90.95M	-28.98M
Investing Cash Flow	56.10M	40.49M	44.64M	-101.12M	-22.24M	-21.75M
Financing Cash Flow	14.45M	14.43M	-1.17M	-1.57M	50.58M	113.20M

Molecular Partners AG Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.52
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:MOLN, the sentiment is Positive. The current price of 3.52 is above the 20-day moving average (MA) of 3.25, above the 50-day MA of 3.30, and above the 200-day MA of 3.12, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 59.89 is Neutral, neither overbought nor oversold. The STOCH value of 65.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:MOLN.

Molecular Partners AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NWRN	67 Neutral	CHF395.49M	16.50	―	―	744.64%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
MOLN	48 Neutral	$141.92M	-2.17	-49.86%	―	-100.00%	14.45%
SANN	48 Neutral	CHF180.10M	-2.52	-301.13%	―	-56.85%	-186.55%
IDIA	46 Neutral	CHF929.20M	-5.41	―	―	229.23%	63.47%