ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H (1541) AI Stock Analysis

• Market Cap: HK$3.94B
• Dividend Yield: N/A
• Average Volume (3M): 4.65M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.32
• Revenue Growth: 29639.67%
• EPS Growth: 23.30%
• Country: HK
• Employees: 156
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.41
• Shares Outstanding: 420,477,300
• 10 Day Avg. Volume: 5,424,202
• 30 Day Avg. Volume: 4,650,789
• PEG Ratio: 0.29
• Price to Book (P/B): 2.69
• Price to Sales (P/S): 24.65
• P/FCF Ratio: -13.20
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: HK$4.50 ▼(-26.83% Downside)

The score is driven primarily by weak financial performance—persistent losses and negative operating cash flow with no free cash flow—creating elevated execution and liquidity risk. Technicals also remain bearish with the stock trading below key moving averages and a negative MACD, though oversold indicators modestly temper the downside. Valuation provides limited support because the company is loss-making (negative P/E) and no dividend yield is available.

Positive Factors

Robust revenue growth

Extraordinary reported revenue growth indicates strong market demand and successful commercialization progress for its immuno‑oncology offerings. Sustained top‑line expansion can create optionality to fund trials, attract partners, and scale commercial operations if margins improve.

Low financial leverage

A relatively low debt burden provides balance sheet flexibility to raise equity or enter strategic partnerships without heavy interest obligations. This lowers insolvency risk during protracted clinical development timelines and supports long‑term R&D investment capacity.

Focused immuno-oncology platform

A clear strategic focus on immuno‑oncology aligns the company with a structurally growing therapeutic area and creates differentiation through specialized biologics. A targeted platform can enable deeper expertise, more efficient pipeline prioritization, and stronger partnership appeal over the medium term.

Negative Factors

Negative operating cash flow and no free cash flow

Persistent negative operating cash flow and zero free cash flow erode financial runway and force repeated external financing. That elevates dilution and constrains the company’s ability to internally fund trials, manufacture, and commercial launch activities over the next several quarters.

Persistent losses and negative margins

Continued negative net, EBIT and EBITDA margins mean the business is not yet generating operating leverage. Without structural margin improvement or lower development costs, ongoing losses will hamper reinvestment, reduce free cash flow prospects, and increase reliance on capital markets.

Limited employee base for clinical scale-up

A relatively small workforce raises execution risk for advancing multiple clinical programs and commercial preparation simultaneously. Limited in‑house capacity increases dependence on CROs and partners, potentially slowing timelines and raising program coordination and cost risks.

ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H Business Overview & Revenue Model

Company Description

ImmuneOnco Biopharmaceuticals (Shanghai) Inc., a biotechnology company, focuses on the development of immuno-oncology therapies. Its lead product candidate is IMM01, a clinical-stage CD47-targeted molecule for the treatment of myelodysplastic syndromes (MDS), acute myeloid leukemia (AML), chronic myelomonocytic leukemia (CMML) classical Hodgkin lymphoma (cHL), non-small cell lung cancer (NSCLC), small cell lung cancer (SCLC), head and neck squamous cell carcinomas (HNSCC), and colorectal cancer (CRC). It also develops IMM0306, a CD47×CD20 bispecific molecule for the treatment of R/R B-cell non-Hodgkin lymphoma (B-NHL); IMM2902, a CD47×HER2 bispecific molecule for the treatment of HER2-positive and HER2-low expressing solid tumors; IMM2520, a CD47×PD-L1 bispecific molecule for the treatment of solid tumors; IMM47, a humanized monoclonal antibody targeting CD24 for cancer treatment; MM4701, a bispecific molecule that simultaneously targets CD47 and CD24; IMM2510, a bispecific molecule with a mAb-Trap structure targeting VEGF and PD-L1; IMM27M, a CTLA-4 antibody with enhanced ADCC activity; and IMM40H, a humanized IgG1 CD70 monoclonal antibody with enhanced ADCC activity. The company was founded in 2015 and is headquartered in Shanghai, China.

How the Company Makes Money

ImmuneOnco generates revenue through several key channels: first, by developing and commercializing its proprietary immuno-oncology therapies, which are sold to healthcare providers and institutions. Additionally, the company may engage in licensing agreements with larger pharmaceutical companies, allowing them to utilize ImmuneOnco's technologies in exchange for upfront payments and royalties on sales. Research grants and collaborations with academic institutions or government bodies also contribute to its revenue, as they provide funding for ongoing research and development projects. Strategic partnerships with other biotech firms can further enhance its earning potential by sharing resources and expanding market reach.

ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H Financial Statement Overview

Summary

Despite strong revenue growth from 2023 to 2024, profitability is weak with highly negative net margin and negative EBIT/EBITDA margins. Balance sheet leverage is relatively low, but negative net income drives negative ROE. Operating cash flow remains negative with no free cash flow, creating ongoing liquidity risk.

Income Statement

The company showed a significant increase in revenue from 2023 to 2024, but the net profit margin is highly negative due to substantial losses. The EBIT and EBITDA margins are also negative, reflecting ongoing operational challenges.

Balance Sheet

The company has a relatively low debt-to-equity ratio, which indicates low leverage. However, the negative net income results in negative return on equity. The equity ratio is reasonable, suggesting adequate equity financing.

Cash Flow

Cash flow from operations remains negative, and there is no free cash flow, highlighting liquidity challenges. The lack of free cash flow growth reflects potential difficulties in sustaining operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	122.83M	74.15M	386.00K	5.69M	13.81M
Gross Profit	122.83M	74.15M	7.70M	5.69M	13.81M
EBITDA	-300.82M	-295.63M	-355.35M	-384.49M	-718.88M
Net Income	-302.68M	-315.86M	-379.46M	-402.89M	-732.95M
Balance Sheet
Total Assets	771.24M	922.00M	874.59M	839.98M	892.84M
Cash, Cash Equivalents and Short-Term Investments	703.70M	752.12M	608.56M	635.21M	668.33M
Total Debt	153.72M	136.36M	74.77M	14.62M	18.54M
Total Liabilities	237.36M	243.69M	126.30M	60.76M	2.49B
Stockholders Equity	534.62M	678.90M	748.29M	779.22M	-1.60B
Cash Flow
Free Cash Flow	-140.89M	-138.44M	-370.25M	-261.93M	-315.79M
Operating Cash Flow	-136.13M	-128.03M	-367.55M	-238.71M	-190.54M
Investing Cash Flow	42.88M	37.95M	-294.85M	49.00K	-108.72M
Financing Cash Flow	253.48M	258.93M	331.04M	179.38M	793.03M

ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.15
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1541, the sentiment is Negative. The current price of 6.15 is above the 20-day moving average (MA) of 5.68, below the 50-day MA of 6.17, and below the 200-day MA of 9.53, indicating a bearish trend. The MACD of -0.53 indicates Positive momentum. The RSI at 30.17 is Neutral, neither overbought nor oversold. The STOCH value of 14.57 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1541.

ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2315	70 Outperform	HK$18.65B	122.12	16.13%	―	48.38%	―
1672	54 Neutral	HK$13.14B	-47.65	-12.74%	―	-76.58%	-4.90%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
2616	42 Neutral	HK$8.09B	-17.74	-95.84%	―	-55.64%	-158.67%
1541	41 Neutral	HK$3.94B	-5.62	-53.23%	―	29639.67%	23.30%
2157	40 Underperform	HK$9.20B	-43.25	-21.42%	―	240.05%	-140.09%

ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H Corporate Events

ImmuneOnco Nears Interim Milestone in Phase III Trial of Lead CD47 Drug IMM01

ImmuneOnco Biopharmaceuticals (Shanghai) Inc. has reported progress in its late-stage clinical program for IMM01 (Timdarpacept), an innovative CD47-targeting SIRPα-Fc fusion protein and the company’s core product, which has been engineered to activate macrophages while avoiding red blood cell binding and has secured orphan-drug designation from the U.S. FDA for first-line treatment of chronic myelomonocytic leukemia (CMML) when combined with azacitidine. The company has completed enrollment of 104 patients in its Phase III trial of IMM01 for first-line CMML as of December 31, 2025, and expects to reach the 132 patients required for interim analysis by the end of March 2026, while stating that its business operations and clinical development remain normal with no material adverse changes, underscoring continued operational stability as it advances a key asset with potential to strengthen its position in the global immuno-oncology market.

The most recent analyst rating on (HK:1541) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H stock, see the HK:1541 Stock Forecast page.

ImmuneOnco Wins NMPA Nod to Test Lead CD47 Drug IMM01 in Atherosclerosis

ImmuneOnco Biopharmaceuticals (Shanghai) Inc. has received approval from China’s National Medical Products Administration to initiate a clinical trial of its core drug candidate IMM01 (Timdarpacept) for the treatment of atherosclerosis, marking an expansion of the molecule’s development beyond oncology into cardiovascular disease. The CD47‑targeting SIRPα‑Fc fusion protein, already in clinical use in China and granted U.S. orphan-drug designation in combination with azacitidine for first-line treatment of chronic myelomonocytic leukemia, has been engineered for a favorable safety profile through selective macrophage activation and avoidance of red blood cell binding; the new trial underscores the company’s effort to broaden therapeutic indications and leverage its globally protected asset, although management cautions there is no guarantee IMM01 will be successfully developed or commercialized.

The most recent analyst rating on (HK:1541) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H stock, see the HK:1541 Stock Forecast page.

ImmuneOnco Reclaims Global Rights to Key Immuno-Oncology Assets IMM2510 and IMM27M

ImmuneOnco Biopharmaceuticals (Shanghai) Inc. has terminated its License and Collaboration Agreement with Axion Bio, Inc., resulting in the reversion of all global development and commercialization rights for its oncology drug candidates IMM2510 and IMM27M outside the Greater China region back to the company, while allowing Axion only a limited license to wind down its clinical activities. The termination does not affect the US$35 million in upfront and milestone payments ImmuneOnco has already received, and the company emphasized its confidence in the therapeutic potential of IMM2510, a bispecific PD-L1/VEGF-targeting molecule, and IMM27M, an enhanced ADCC CTLA-4 antibody, stating it remains committed to accelerating their clinical development, which could strengthen its control over key pipeline assets and its strategic positioning in the immuno-oncology market.

The most recent analyst rating on (HK:1541) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H stock, see the HK:1541 Stock Forecast page.

ImmuneOnco CEO Increases Stake, Signaling Confidence in Growth

ImmuneOnco Biopharmaceuticals announced that Dr. Tian Wenzhi, the company’s executive director, CEO, and chairman, has increased his shareholding by purchasing 50,000 H shares in the open market. This move reflects Dr. Tian’s confidence in the company’s growth prospects and potential development, indicating a positive outlook for stakeholders.

The most recent analyst rating on (HK:1541) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H stock, see the HK:1541 Stock Forecast page.

ImmuneOnco’s Phase III Study of Innovative Lymphoma Treatment Approved

ImmuneOnco Biopharmaceuticals has received approval from the Center for Drug Evaluation of the National Medical Products Administration for its Phase III clinical study protocol of IMM0306, a bispecific molecule for treating relapsed/refractory follicular lymphoma. This approval marks a significant step in advancing their innovative treatment, potentially enhancing therapeutic outcomes by effectively eliminating malignant B cells while minimizing toxicity.

The most recent analyst rating on (HK:1541) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H stock, see the HK:1541 Stock Forecast page.

ImmuneOnco Redeems and Subscribes to Wealth Management Products

ImmuneOnco Biopharmaceuticals has announced the redemption of two wealth management products totaling HK$93,323,273 from Huatai Financial, resulting in an estimated unaudited gain of HK$4,730,000. The company has also subscribed to a new wealth management product worth HK$120,000,000, funded by its internal surplus cash reserves. These transactions are classified as discloseable under the Hong Kong Stock Exchange’s listing rules, requiring notification and announcement but exempt from shareholder approval.

The most recent analyst rating on (HK:1541) stock is a Hold with a HK$10.50 price target. To see the full list of analyst forecasts on ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H stock, see the HK:1541 Stock Forecast page.

ImmuneOnco Biopharmaceuticals Updates Articles Following Share Placement

ImmuneOnco Biopharmaceuticals (Shanghai) Inc. has announced amendments to its Articles of Association following the completion of a placement of new H shares, which increased the company’s total issued shares. This adjustment in the share capital structure reflects the company’s strategic efforts to enhance its market presence and operational capacity, potentially impacting its stakeholders by aligning its governance documents with its expanded capital base.

The most recent analyst rating on (HK:1541) stock is a Hold with a HK$10.50 price target. To see the full list of analyst forecasts on ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H stock, see the HK:1541 Stock Forecast page.

ImmuneOnco CEO Increases Shareholding, Signaling Confidence in Growth

ImmuneOnco Biopharmaceuticals (Shanghai) Inc. announced that Dr. Tian Wenzhi, the company’s executive director, CEO, and chairman, has increased his shareholding by purchasing 50,000 H shares on the open market. This purchase reflects Dr. Tian’s confidence in the company’s growth prospects, as he now holds 26.90% of the total issued share capital. The move is seen as a positive signal to shareholders and potential investors about the company’s future potential.

The most recent analyst rating on (HK:1541) stock is a Hold with a HK$10.50 price target. To see the full list of analyst forecasts on ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H stock, see the HK:1541 Stock Forecast page.

ImmuneOnco Advances in Cancer Immunotherapy with New Clinical Trial Milestone

ImmuneOnco Biopharmaceuticals has successfully dosed the first patient in a Phase IB/II clinical trial for its cancer treatment combination of IMM2510 and IMM01, marking a significant milestone in cancer immunotherapy. This development could enhance the company’s industry positioning by showcasing its innovative approach to cancer treatment, potentially impacting stakeholders positively.

The most recent analyst rating on (HK:1541) stock is a Hold with a HK$10.50 price target. To see the full list of analyst forecasts on ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H stock, see the HK:1541 Stock Forecast page.