Advicenne SA (ALDVI) AI Stock Analysis

• Market Cap: €27.37M
• Dividend Yield: N/A
• Average Volume (3M): 26.23K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.56
• Revenue Growth: 101.95%
• EPS Growth: 35.55%
• Country: FR
• Employees: 21
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.40
• Shares Outstanding: 14,609,619
• 10 Day Avg. Volume: 23,481
• 30 Day Avg. Volume: 26,231
• PEG Ratio: 0.18
• Price to Book (P/B): -1.26
• Price to Sales (P/S): 4.83
• P/FCF Ratio: -28.17
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -0.22
• Revenue Forecast (FY): €8.05M

• Rating: 47 Neutral
• Price Target: €2.00 ▲(16.28% Upside)
• Action: Reiterated Date: 02/03/26
• Date: Action: Reiterated 02/03/26

The score is held down primarily by weak financial fundamentals—loss-making operations, negative equity, and negative cash generation—despite strong revenue growth. Technicals are moderately supportive with price above key moving averages, but valuation remains constrained by losses (negative P/E) and the absence of a dividend yield.

Positive Factors

Strong revenue growth

Sustained high top-line growth signals accelerating commercial traction for ADV7103 and strengthens the company's ability to scale operations. Durable revenue expansion can improve bargaining power with payors and partners, support R&D investment, and reduce reliance on one-off financing.

Focused rare-disease franchise

Concentrating on a niche rare-disease indication creates structural advantages: limited competition, clearer reimbursement pathways, and potential orphan-drug incentives. This specialization can enable more predictable demand and long-term pricing power versus crowded therapeutic areas.

Multiple potential revenue channels

A mix of product sales, partnerships, milestone payments and grants provides durable diversification of cash sources. Non-dilutive milestones and royalties can smooth funding needs and reduce financing pressure during commercialization and late-stage development phases.

Negative Factors

Negative stockholders' equity

Negative equity indicates structural solvency risk and limits conventional borrowing capacity. This weakens financial flexibility, increases the likelihood of dilutive capital raises or onerous financing, and constrains long-term investments needed to scale commercialization and R&D.

Negative operating and free cash flow

Persistent negative operating and free cash flow undermines the company's ability to self-fund launches and ongoing development. Reliance on external financing elevates execution risk, can delay market expansion, and pressures margins and strategic optionality over the medium term.

Sustained unprofitability and negative margins

Consistent negative margins reflect structural cost or pricing issues that impede path to profitability. Without margin improvement, the company will struggle to convert revenue growth into free cash, limiting reinvestment, increasing financing needs, and raising execution risk over months.

Advicenne SA Business Overview & Revenue Model

Company Description

Advicenne S.A., a specialty pharmaceutical company, develops and commercializes treatments for nephrology. Its lead product candidate is Sibnayal for the treatment of distal renal tubular acidosis, as well as for the treatment of cystinuria. Advicenne S.A. was founded in 2007 and is headquartered in Paris, France.

How the Company Makes Money

Advicenne generates revenue primarily through the commercialization of its pharmaceutical products, particularly through the sales of ADV7103. The company may also engage in partnerships and collaborations with larger pharmaceutical firms for co-development and distribution, which can provide upfront payments, milestone payments as products progress through clinical trials, and royalties on sales. Additionally, Advicenne might seek funding through grants or research subsidies aimed at supporting the development of treatments for rare diseases, thereby supplementing its revenue streams.

Advicenne SA Financial Statement Overview

Summary

Despite strong revenue growth (+49.21%), the company has negative profitability (negative gross, EBIT/EBITDA, and net margins), negative equity indicating balance-sheet instability, and negative operating/free cash flow, which together signal elevated financial risk.

Income Statement

Advicenne SA shows a significant revenue growth rate of 49.21% in the latest year, indicating strong top-line expansion. However, the company struggles with profitability, as evidenced by negative gross profit and net profit margins. The EBIT and EBITDA margins are also negative, reflecting operational challenges. Overall, while revenue growth is a positive sign, the lack of profitability is a major concern.

Balance Sheet

The balance sheet reveals a precarious financial position with negative stockholders' equity, indicating potential solvency issues. The debt-to-equity ratio is not meaningful due to negative equity, and the return on equity is also negative. The equity ratio is negative, highlighting a high-risk financial structure. Overall, the balance sheet reflects significant financial instability.

Cash Flow

Cash flow analysis shows negative operating and free cash flows, with a significant decline in free cash flow growth. The operating cash flow to net income ratio is zero, indicating cash flow challenges. The free cash flow to net income ratio is also zero, suggesting inefficiencies in converting income to cash. Overall, the cash flow situation is concerning, with limited cash generation capabilities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.58M	4.97M	4.46M	2.40M	2.69M	2.06M
Gross Profit	-2.30M	-1.18M	-6.31M	1.28M	1.72M	1.18M
EBITDA	2.87M	1.30M	-6.24M	-9.87M	-12.04M	-14.05M
Net Income	-5.89M	-6.46M	-7.03M	-11.47M	-12.43M	-14.85M
Balance Sheet
Total Assets	6.73M	9.51M	12.41M	14.26M	18.88M	24.00M
Cash, Cash Equivalents and Short-Term Investments	515.00K	3.25M	5.25M	8.32M	12.69M	16.77M
Total Debt	18.67M	18.19M	18.32M	18.75M	12.54M	13.80M
Total Liabilities	30.73M	28.58M	24.38M	24.88M	18.57M	20.73M
Stockholders Equity	-24.00M	-19.07M	-11.97M	-10.50M	309.00K	3.27M
Cash Flow
Free Cash Flow	1.83M	-853.00K	-7.27M	-9.26M	-12.82M	-12.27M
Operating Cash Flow	1.89M	-762.00K	-5.99M	-9.15M	-12.53M	-11.69M
Investing Cash Flow	-73.00K	-108.00K	-1.32M	-2.00K	-395.00K	-694.00K
Financing Cash Flow	-532.00K	-1.13M	4.23M	4.78M	8.85M	12.53M

Advicenne SA Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.72
• 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 FR:ALDVI, the sentiment is Neutral. The current price of 1.72 is below the 20-day moving average (MA) of 2.03, below the 50-day MA of 1.91, and above the 200-day MA of 1.62, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 44.32 is Neutral, neither overbought nor oversold. The STOCH value of 27.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FR:ALDVI.

Advicenne SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALPAT	60 Neutral	€7.60M	-15.91	―	―	―	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ALVAL	49 Neutral	€23.69M	-1.75	―	―	―	―
ALDVI	47 Neutral	€27.37M	-0.86	―	―	101.95%	35.55%
SIGHT	45 Neutral	€20.41M	-0.93	51.23%	―	-92.35%	63.25%