JW (Cayman) Therapeutics Co. Ltd. (HK:2126)
:2126
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JW (Cayman) Therapeutics Co. Ltd.
(2126)
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Rating:52Neutral
Price Target:
HK$2.00
▼(-20.00% Downside)
Action:Reiterated
Date:05/08/26
The score is primarily held back by weak financial performance—large ongoing losses and negative cash flow despite strong 2025 revenue growth and improved cash burn. Technicals provide moderate support with positive near-term momentum, but the valuation signal is limited due to negative earnings and no dividend yield data.
Positive Factors
Revenue and Gross Margin Recovery
A 55% revenue rebound with gross margin rising to ~43% indicates renewed commercial traction and improved unit economics. Durable top-line and margin gains support reinvestment capacity, reduce the distance to break-even, and improve the likelihood of sustainable cash generation over months.
Negative Factors
Deep and Persistent Unprofitability
Net margin near -196% and materially negative EBIT/EBITDA indicate the business is far from operational break-even. Sustained heavy losses erode cash reserves and restrict ability to self-fund R&D and commercialization, requiring ongoing capital raises that weigh on long-term shareholder value.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Gross Margin Recovery
A 55% revenue rebound with gross margin rising to ~43% indicates renewed commercial traction and improved unit economics. Durable top-line and margin gains support reinvestment capacity, reduce the distance to break-even, and improve the likelihood of sustainable cash generation over months.
Read all positive factors
JW (Cayman) Therapeutics Co. Ltd. (2126) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$858.46M
Dividend YieldN/A
Average Volume (3M)2.67M
Price to Earnings (P/E)―
Beta (1Y)1.80
Revenue Growth79.76%
EPS Growth7.68%
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, a clinical stage cell therapy company, focuses on developing, manufacturing, and commercializing cell-based immunotherapies for hematological cancers and solid tumors. The company offers cell-based immunotherapies...
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
2.20
Negative
2.34
Negative
3.31
Negative
Market Momentum
-0.03
Positive
37.72
Neutral
0.94
Positive
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 2.40, above the 50-day MA of 2.20, and below the 200-day MA of 3.31, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 37.72 is Neutral, neither overbought nor oversold. The STOCH value of 0.94 is Positive, 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 |
|---|---|---|---|---|---|---|---|
52 Neutral | HK$858.46M | -1.73 | -75.15% | ― | 79.76% | 7.68% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | HK$8.33B | -15.87 | -6.26% | ― | -11.65% | -169.40% | |
51 Neutral | HK$7.99B | 9.33 | 24.17% | ― | 154.21% | ― | |
50 Neutral | HK$12.15B | -15.04 | -64.19% | ― | -33.37% | -344.90% | |
47 Neutral | HK$3.87B | -3.21 | -137.11% | ― | ― | 0.47% |
* Healthcare Sector Average
HK:2126
JW (Cayman) Therapeutics Co. Ltd.
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CStone Pharmaceuticals
7.87
4.15
111.56%
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Shandong Boan Biotechnology Company., Limited. Class H
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-4.70
-43.68%
JW (Cayman) Therapeutics Co. Ltd. Corporate Events
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...
JW Therapeutics Boosts 2025 Revenue on CAR-T Sales and Licensing but Books Major Pipeline Impairments
Mar 26, 2026
JW (Cayman) Therapeutics reported a 79.3% year-on-year rise in 2025 revenue to RMB283.7 million, driven by 38.4% growth in sales of its commercial CAR-T product Carteyva® and new non-exclusive licensing income from its sLVV manufacturing proc...
JW Therapeutics Schedules Board Meeting to Approve 2025 Results and Consider Dividend
Mar 11, 2026
JW (Cayman) Therapeutics Co. Ltd., a Hong Kong-listed biotechnology company incorporated in the Cayman Islands and based in Shanghai, operates in the life sciences sector with a focus on innovative therapeutic products and services. Its board incl...
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.
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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.