Keymed Biosciences, Inc. (HK:2162)
:2162
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Keymed Biosciences, Inc.
(2162)
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Rating:58Neutral
Price Target:
HK$60.00
▼(-4.46% Downside)
Action:Reiterated
Date:05/02/26
The score is held back primarily by weak financial performance—persistent large losses and heavy negative free cash flow—despite a comparatively solid balance sheet. Technicals provide meaningful support with clear upward trend and positive momentum. Valuation remains constrained by negative earnings and no dividend yield data.
Positive Factors
Balance sheet strength
Sizable equity (~2.78bn) and moderate 0.28x debt-to-equity provide a financial cushion to fund R&D and operations despite losses. This balance-sheet resilience reduces immediate refinancing risk and gives the company flexibility to execute strategic moves over the coming months.
Negative Factors
Sustained cash burn
Consistent negative operating cash flow (-712.4m) and deeply negative free cash flow (-1.05bn) signal ongoing cash burn. Over a 2-6 month horizon this depletes resources, forces reliance on external funding or dilution, and constrains the ability to fund trials or seize strategic opportunities without new capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
Sizable equity (~2.78bn) and moderate 0.28x debt-to-equity provide a financial cushion to fund R&D and operations despite losses. This balance-sheet resilience reduces immediate refinancing risk and gives the company flexibility to execute strategic moves over the coming months.
Read all positive factors
Keymed Biosciences, Inc. (2162) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$16.14B
Dividend YieldN/A
Average Volume (3M)1.75M
Price to Earnings (P/E)―
Beta (1Y)0.86
Revenue Growth66.66%
EPS Growth6.11%
CountryHK
Employees1,258
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.76
Shares Outstanding298,735,570
10 Day Avg. Volume1,976,819
30 Day Avg. Volume1,752,076
Financial Highlights & Ratios
PEG Ratio4.62
Price to Book (P/B)4.74
Price to Sales (P/S)18.85
P/FCF Ratio-12.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$88.58Price Target Upside41.05% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)1.77
Revenue Forecast (FY)HK$2.19B
Keymed Biosciences, Inc. Business Overview & Revenue Model
Company Description
Keymed Biosciences Inc., a biotechnology firm founded in 2016 in Chengdu, China (formerly known as 2Health Biosciences, Inc.), specializes in the research and development of innovative biological treatments, primarily targeting autoimmune and onco...
How the Company Makes Money
Keymed Biosciences primarily makes money through (1) out-licensing and collaboration agreements in which it grants partners rights to develop and/or commercialize specific drug candidates (typically in exchange for upfront payments, development an...
Keymed Biosciences, Inc. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
63
Positive
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 697.77M | 428.12M | 354.10M | 100.06M | 110.27M |
| Gross Profit | 516.51M | 415.92M | 317.22M | 97.48M | 93.07M |
| EBITDA | -489.36M | -574.46M | -269.77M | -259.25M | -3.86B |
| Net Income | -509.11M | -515.24M | -359.36M | -308.12M | -3.90B |
Balance Sheet | |||||
| Total Assets | 4.22B | 3.77B | 3.88B | 3.93B | 3.93B |
| Cash, Cash Equivalents and Short-Term Investments | 1.96B | 2.16B | 2.72B | 3.18B | 3.52B |
| Total Debt | 788.88M | 753.24M | 418.71M | 121.97M | 39.26M |
| Total Liabilities | 1.44B | 1.29B | 896.11M | 593.10M | 289.07M |
| Stockholders Equity | 2.78B | 2.47B | 2.99B | 3.34B | 3.65B |
Cash Flow | |||||
| Free Cash Flow | -1.05B | -1.00B | -686.23M | -681.48M | -387.50M |
| Operating Cash Flow | -712.41M | -789.63M | -303.62M | -401.93M | -214.64M |
| Investing Cash Flow | 39.08M | 67.71M | 468.20M | -645.59M | -2.04B |
| Financing Cash Flow | 788.72M | 283.90M | 72.13M | -8.06M | 3.64B |
Keymed Biosciences, Inc. Technical Analysis
Negative
62.80
Price Trends
67.36
Negative
61.25
Negative
62.43
Negative
Market Momentum
-2.62
Negative
41.14
Neutral
43.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2162, the sentiment is Negative. The current price of 62.8 is above the 20-day moving average (MA) of 58.60, below the 50-day MA of 67.36, and above the 200-day MA of 62.43, indicating a bearish trend. The MACD of -2.62 indicates Negative momentum. The RSI at 41.14 is Neutral, neither overbought nor oversold. The STOCH value of 43.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2162.
Keymed Biosciences, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | HK$16.14B | -28.77 | -17.26% | ― | 66.66% | 6.11% | |
58 Neutral | HK$16.20B | 22.92 | 10.12% | ― | 110.05% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | HK$7.13B | -54.36 | -6.26% | ― | -11.65% | -169.40% | |
47 Neutral | HK$16.25B | -11.41 | -24.29% | ― | 8.50% | 35.24% | |
44 Neutral | HK$12.12B | -8.49 | -123.74% | ― | -41.32% | -159.81% | |
41 Neutral | HK$7.31B | -19.36 | -64.78% | ― | -33.37% | -344.90% |
* Healthcare Sector Average
HK:2162
Keymed Biosciences, Inc.
57.50
11.35
24.59%
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14.36
-13.99
-49.35%
HK:9966
Alphamab Oncology
7.32
0.36
5.17%
HK:9969
InnoCare Pharma Ltd.
10.84
-2.26
-17.25%
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CStone Pharmaceuticals
4.63
0.43
10.24%
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Ascentage Pharma Group International
32.70
-39.60
-54.77%
Keymed Biosciences, Inc. Corporate Events
Keymed Biosciences Banks US$257 Million From Ouro Medicines Sale as Gilead-Lakefront Alliance Advances CM336
Jun 5, 2026
Keymed Biosciences said its subsidiary iBridge HK has completed the disposal of its minority equity interest in Ouro Medicines following the closing of Ouro’s merger, triggering an upfront cash inflow of about US$257 million and potential mi...
Keymed Biosciences Sets AGM to Approve Accounts, Board Changes and New Share Mandate
Apr 29, 2026
Keymed Biosciences Inc. has called its annual general meeting for June 26, 2026, in Chengdu, where shareholders will vote on adopting the audited financial statements for the year ended December 31, 2025, and re-electing two executive directors an...
Keymed Biosciences Details Gain and Capital Plans From Ouro Medicines Stake Disposal
Apr 15, 2026
Keymed Biosciences has provided further details on the planned disposal of its minority equity interest in Ouro Medicines, confirming that closing of the merger remains subject to customary regulatory clearances and must occur before a long stop d...
Keymed Biosciences boosts revenue on Kangyueda push while deepening R&D pipeline
Mar 26, 2026
Keymed Biosciences reported 2025 revenue of RMB716.3 million, up 67% year on year, with gross profit rising 51% to RMB628.3 million as commercialization of its first marketed product Kangyueda accelerated, though the company still posted a loss of...
Keymed Biosciences to Realize Up to US$320 Million From Ouro Medicines Exit
Mar 23, 2026
Keymed Biosciences will exit its roughly 15% minority stake in Ouro Medicines after the U.S. biotech is acquired via a merger for up to US$2.175 billion, comprising US$1.675 billion upfront and as much as US$500 million in milestone-based continge...
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.