JW (Cayman) Therapeutics Co. Ltd. (HK:2126)
:2126
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JW (Cayman) Therapeutics Co. Ltd.
(2126)
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Rating:42Neutral
Price Target:
HK$1.50
▼(-40.00% Downside)
Action:Reiterated
Date:05/29/26
The score is held down primarily by persistent large operating losses and negative cash generation despite strong 2025 revenue growth and improved cash burn. Technicals further weaken the outlook with a clear downtrend (price below all major moving averages) and bearish MACD, while valuation offers little support due to a negative P/E and no dividend.
Positive Factors
Revenue recovery & margin expansion
A 55% revenue rebound alongside a ~43% gross margin shows the business is converting development and commercialization efforts into higher top-line scale and healthier unit economics. That structural improvement supports longer-term operating leverage and reduces the quantum of funding required per revenue dollar as commercialization progresses.
Negative Factors
Persistent large operating losses
Very large negative margins and continued negative operating profits are structural headwinds for sustainability. Continued heavy losses erode capital, force ongoing fundraising, and increase execution risk as management must balance R&D and commercialization investments against an unclear near-term path to profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue recovery & margin expansion
A 55% revenue rebound alongside a ~43% gross margin shows the business is converting development and commercialization efforts into higher top-line scale and healthier unit economics. That structural improvement supports longer-term operating leverage and reduces the quantum of funding required per revenue dollar as commercialization progresses.
Read all positive factors
JW (Cayman) Therapeutics Co. Ltd. (2126) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$625.09M
Dividend YieldN/A
Average Volume (3M)2.67M
Price to Earnings (P/E)―
Beta (1Y)1.82
Revenue Growth79.76%
EPS Growth6.45%
CountryHK
Employees281
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.32
Shares Outstanding416,729,430
10 Day Avg. Volume1,852,649
30 Day Avg. Volume2,667,300
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)1.68
Price to Sales (P/S)3.39
P/FCF Ratio-11.95
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.77
Revenue Forecast (FY)HK$312.38M
JW (Cayman) Therapeutics Co. Ltd. Business Overview & Revenue Model
Company Description
JW (Cayman) Therapeutics Co. Ltd is a clinical-stage biotechnology company dedicated to the development, manufacture, and commercialization of cell-based immunotherapies. The company primarily targets hematological cancers and solid tumors through...
How the Company Makes Money
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JW (Cayman) Therapeutics Co. Ltd. Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
54
Neutral
Cash Flow
33
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 276.31M | 158.22M | 173.86M | 145.70M | 30.80M |
| Gross Profit | 118.91M | 77.32M | 88.22M | 58.76M | 9.04M |
| EBITDA | -161.95M | -381.58M | -655.75M | -752.27M | -738.70M |
| Net Income | -540.92M | -590.62M | -768.00M | -846.13M | -702.33M |
Balance Sheet | |||||
| Total Assets | 987.32M | 1.68B | 2.15B | 2.79B | 3.12B |
| Cash, Cash Equivalents and Short-Term Investments | 503.28M | 762.53M | 1.01B | 1.39B | 1.84B |
| Total Debt | 262.67M | 422.40M | 318.80M | 279.13M | 147.03M |
| Total Liabilities | 430.82M | 511.20M | 462.26M | 437.06M | 325.75M |
| Stockholders Equity | 556.50M | 1.17B | 1.68B | 2.35B | 2.79B |
Cash Flow | |||||
| Free Cash Flow | -78.46M | -348.87M | -413.00M | -613.60M | -634.28M |
| Operating Cash Flow | -76.85M | -333.44M | -398.42M | -536.72M | -561.20M |
| Investing Cash Flow | -1.49M | -15.43M | 9.90M | -124.08M | -137.13M |
| Financing Cash Flow | -169.81M | 90.49M | 275.00K | 112.35M | -30.62M |
JW (Cayman) Therapeutics Co. Ltd. Technical Analysis
Negative
2.50
Price Trends
2.09
Negative
2.11
Negative
2.86
Negative
Market Momentum
-0.15
Positive
31.45
Neutral
47.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2126, the sentiment is Negative. The current price of 2.5 is above the 20-day moving average (MA) of 1.73, above the 50-day MA of 2.09, and below the 200-day MA of 2.86, indicating a bearish trend. The MACD of -0.15 indicates Positive momentum. The RSI at 31.45 is Neutral, neither overbought nor oversold. The STOCH value of 47.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2126.
JW (Cayman) Therapeutics Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | HK$1.73B | 26.78 | 43.89% | ― | 150.60% | ― | |
46 Neutral | HK$6.57B | -54.37 | -6.26% | ― | -11.65% | -169.40% | |
44 Neutral | HK$7.92B | -63.18 | -11.21% | ― | 219.26% | 87.63% | |
43 Neutral | HK$3.07B | -5.97 | -32.79% | ― | 109.02% | 36.95% | |
42 Neutral | HK$625.09M | -0.99 | -75.15% | ― | 79.76% | 6.45% | |
41 Neutral | HK$6.96B | -18.21 | -64.78% | ― | -33.37% | -344.90% |
* Healthcare Sector Average
HK:2126
JW (Cayman) Therapeutics Co. Ltd.
1.50
-1.28
-46.04%
HK:9966
Alphamab Oncology
6.74
0.59
9.59%
HK:2171
CARsgen Therapeutics Holdings Ltd.
13.15
-9.95
-43.07%
HK:2181
Mabpharm Limited
0.42
-0.06
-12.50%
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CStone Pharmaceuticals
4.41
0.18
4.26%
HK:1541
ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H
3.65
-7.41
-67.00%
JW (Cayman) Therapeutics Co. Ltd. Corporate Events
JW Therapeutics Shareholders Back All AGM Resolutions, Approve Fresh Capital Mandates
Jun 26, 2026
JW (Cayman) Therapeutics reported that all ordinary resolutions at its June 26, 2026 annual general meeting were approved by poll, including the adoption of its 2025 audited financial statements and the reappointment of Deloitte Touche Tohmatsu as...
JW Therapeutics Clarifies Board and Committee Structure
Jun 26, 2026
JW (Cayman) Therapeutics has announced the current composition of its board of directors, confirming Feng Tian as executive director, chairman, and chief executive officer, alongside non-executive and independent non-executive directors including ...
JW Therapeutics Sets 2026 AGM to Approve Results, Board and Share Issuance Mandate
May 26, 2026
JW (Cayman) Therapeutics has called its annual general meeting for June 26, 2026, in Shanghai, where shareholders will review and adopt the audited financial statements for the year ended December 31, 2025. The agenda underscores routine but impor...
JW Therapeutics Grants CEO 2 Million Performance-Linked Share Options
May 19, 2026
JW (Cayman) Therapeutics has granted 2,000,000 share options to its chief executive officer, Feng Tian, under its post-IPO incentivization scheme adopted in 2020. Each option entitles him to subscribe for one share at an exercise price of HK$2.32,...
JW Therapeutics Grants New Equity Awards to Employees Under Post-IPO Schemes
Apr 20, 2026
JW (Cayman) Therapeutics has granted 8,040,000 share options and 220,000 restricted share units to 30 eligible employees under its post-IPO equity incentive schemes adopted in 2020. The options, exercisable at HK$2.52 per share from April 20, 2026...
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.