Climb Bio (CLYM) AI Stock Analysis

• Market Cap: $291.86M
• Dividend Yield: N/A
• Average Volume (3M): 586.69K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.25
• Revenue Growth: N/A
• EPS Growth: 64.81%
• Country: US
• Employees: 17
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.26
• Shares Outstanding: 47,767,980
• 10 Day Avg. Volume: 510,239
• 30 Day Avg. Volume: 586,690
• PEG Ratio: 0.11
• Price to Book (P/B): 1.69
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.97
• Enterprise Value/Market Cap: 1.41
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -6.04K
• Enterprise Value/Ebitda: -6.44
• 1Y Price Target: $15.50
• Price Target Upside: 153.68% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): -1.07
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: $6.50 ▲(6.38% Upside)
• Action: Reiterated Date: 03/07/26
• Date: Action: Reiterated 03/07/26

The score is held back primarily by weak financial performance (no revenue, ongoing losses, and recurring cash burn), partially offset by a low-debt balance sheet. Technicals are a key positive with strong trend and momentum, while valuation is constrained by lack of earnings and no dividend support. Corporate events are balanced between an encouraging runway/milestone outlook and legal overhang risk.

Positive Factors

Low leverage

Extremely low debt reduces solvency and interest-rate exposure, giving management durable financial flexibility to fund clinical programs. This structural balance-sheet strength lowers bankruptcy risk and preserves optionality for partnering or opportunistic financing over the next 2–6 months.

Diversified clinical pipeline

Advancing multiple programs (budoprutug and CLYM116) across autoimmune and renal indications diversifies technical and regulatory risk. Multiple near-term readouts improve the probability that at least one program produces de-risking clinical data, supporting longer-term value creation and strategic options.

Extended runway & China collaboration

A cash runway into 2028 materially reduces immediate financing pressure, allowing planned trials to mature. The Beijing Mabworks collaboration and expanded China footprint offer durable enrollment and regulatory access benefits, lowering execution risk and potentially shortening development timelines.

Negative Factors

Pre-revenue cash burn

Persistent operating and free cash outflows mean the business consumes cash to sustain R&D with no commercial revenue to offset costs. This structural cash burn amplifies dependency on external financing and increases dilution or debt risk if clinical timelines slip or readouts disappoint.

Legal contingent liability risk

A dispute over milestone/royalty obligations creates a material contingent liability that could raise future cash commitments or restrict strategic freedom. Resolution against the company could significantly alter projected runway, capital allocation and partnership economics over the medium term.

Negative ROE & declining equity

Consistent negative ROE and shrinking equity indicate shareholder capital is being consumed to fund operations rather than create value. This structural erosion raises future dilution risk and heightens the need for successful clinical outcomes or fresh capital to restore balance-sheet health.

Climb Bio Business Overview & Revenue Model

Company Description

Climb Bio, Inc., a biotechnology company, focuses on developing therapies for autoimmune-driven inflammatory diseases. It develops budoprutug, an anti-CD19 monoclonal antibody for various autoimmune diseases, including systemic lupus erythematosus and lupus nephritis, immune thrombocytopenia, and membranous nephropathy. The company was formerly known as Eliem Therapeutics, Inc. and changed its name to Climb Bio, Inc. in October 2024. Climb Bio, Inc. was incorporated in 2018 and is headquartered in Wilmington, Delaware.

How the Company Makes Money

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Climb Bio Financial Statement Overview

Summary

Pre-revenue profile with substantial ongoing losses and persistent negative operating/free cash flow, implying continued dependence on external funding. Offsetting this, leverage is very low and solvency risk from debt is limited, though equity has declined alongside losses.

Income Statement

The company has generated no revenue across the reported annual periods, while losses remain substantial. Net loss widened from 2023 to 2024 and improved in 2025 (annual), but profitability is still deeply negative, indicating continued heavy R&D/operating spend without an offsetting commercial base. With no revenue, reported margin figures provide limited insight and the income profile remains highly dependent on future pipeline and funding outcomes.

Balance Sheet

The balance sheet is conservatively levered, with very low debt relative to equity in recent years (near-zero to ~0.3% debt-to-equity), which reduces financial risk. Total assets and equity remain sizable, though equity fell materially from 2024 to 2025 (annual), consistent with ongoing losses. Returns on equity are persistently negative, reflecting that shareholder capital is being consumed to fund operations, but overall solvency risk from debt is low.

Cash Flow

Cash burn is persistent, with operating and free cash flow negative every year. Cash outflow improved significantly in 2024 versus 2023, but deteriorated sharply in 2025 (annual), signaling higher spending or working-capital needs. Free cash flow roughly tracks net loss (around 1x in most years), suggesting losses are largely cash-based rather than accounting-only, which heightens the need for continued financing until revenue materializes.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-97.00K	0.00	0.00	0.00	0.00
EBITDA	-67.79M	-30.36M	-40.27M	-45.13M	-35.67M
Net Income	-59.85M	-73.90M	-35.12M	-45.24M	-47.48M
Balance Sheet
Total Assets	167.74M	217.19M	110.47M	134.99M	173.24M
Cash, Cash Equivalents and Short-Term Investments	101.08M	150.92M	106.80M	123.57M	136.48M
Total Debt	541.00K	532.00K	349.00K	480.00K	0.00
Total Liabilities	7.27M	5.31M	2.87M	6.28M	6.04M
Stockholders Equity	160.47M	211.88M	107.60M	128.72M	167.20M
Cash Flow
Free Cash Flow	-54.54M	-15.56M	-20.60M	-37.37M	-36.07M
Operating Cash Flow	-54.36M	-15.56M	-20.60M	-37.37M	-36.07M
Investing Cash Flow	2.83M	-121.09M	68.98M	34.44M	-114.97M
Financing Cash Flow	-21.00K	130.73M	841.00K	0.00	177.23M

Climb Bio Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 6.11
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLYM, the sentiment is Neutral. The current price of 6.11 is below the 20-day moving average (MA) of 7.02, above the 50-day MA of 5.78, and above the 200-day MA of 3.00, indicating a neutral trend. The MACD of 0.31 indicates Positive momentum. The RSI at 41.64 is Neutral, neither overbought nor oversold. The STOCH value of 17.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CLYM.

Climb Bio Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CLYM	61 Neutral	$291.86M	―	-33.41%	―	―	64.81%
OVID	58 Neutral	$345.51M	-6.90	-23.98%	―	946.61%	-11.30%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
AGEN	50 Neutral	$142.46M	811.87	-0.04%	―	-33.41%	81.19%
CGTX	47 Neutral	$94.45M	-5.34	-109.73%	―	―	50.39%
HURA	41 Neutral	$117.80M	-4.42	-193.06%	―	―	99.21%
TVGN	41 Neutral	$21.13M	-6.72	389.21%	―	―	-234.46%

Climb Bio Corporate Events

Climb Bio outlines 2026 clinical milestones and cash runway

On January 8, 2026, Climb Bio announced that during 2025 it initiated multiple clinical trials across its two lead antibody programs, including first-patient dosing in the PrisMN Phase 2 trial of budoprutug in primary membranous nephropathy in November 2025, ongoing Phase 1b/2a dosing in immune thrombocytopenia and a global Phase 1b trial in systemic lupus erythematosus, clearance in December 2025 to start a parallel SLE trial in China that will also enroll lupus nephritis patients, and completion of first-cohort dosing for both a subcutaneous formulation of budoprutug and its newly in-licensed anti‑APRIL antibody CLYM116 in healthy volunteers. The company highlighted a “data-rich” 2026, with initial readouts expected across all ongoing budoprutug and CLYM116 studies, alongside refreshed guidance that its cash, cash equivalents and marketable securities are expected to fund operations into 2028, positioning Climb Bio to advance its diversified autoimmune and renal disease portfolio while it expands leadership and board capabilities and deepens its global clinical and regulatory footprint, including through its collaboration with Beijing Mabworks in China.

The most recent analyst rating on (CLYM) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Climb Bio stock, see the CLYM Stock Forecast page.

Climb Bio Challenges Alumis Milestone and Royalty Obligations

On December 31, 2025, Climb Bio, Inc. filed a complaint in Delaware Superior Court against Alumis Inc. and its wholly owned subsidiary Acelyrin, Inc., seeking a declaratory judgment over payment obligations tied to a January 11, 2024 Asset Purchase Agreement under which Climb’s subsidiary Tenet Medicines acquired budoprutug-related assets from Acelyrin. Climb contends that no “Royalty-Bearing Patents” were ever transferred or filed within the defined period under the agreement, meaning its budoprutug program does not meet the contract’s definition of a “Product” and therefore does not trigger milestone payments, including a $3 million milestone Alumis has invoiced for January 1, 2026 following Climb’s first Phase 2 patient dosing on November 17, 2025. The lawsuit underscores a significant contractual and financial dispute that could determine whether Climb owes up to roughly $100 million in additional earn-outs for a drug it says it is advancing without any patent protection contributed by Alumis or Acelyrin, with implications for Climb’s future cash commitments and for how similar biotech asset purchase structures are interpreted when key intellectual property is absent.

The most recent analyst rating on (CLYM) stock is a Hold with a $4.50 price target. To see the full list of analyst forecasts on Climb Bio stock, see the CLYM Stock Forecast page.