Clover Biopharmaceuticals Ltd. (2197) AI Stock Analysis

• Market Cap: HK$2.92B
• Dividend Yield: N/A
• Average Volume (3M): 29.82M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.57
• Revenue Growth: 79.98%
• EPS Growth: -3.40%
• Country: HK
• Employees: 300
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.09
• Shares Outstanding: 1,297,836,500
• 10 Day Avg. Volume: 32,349,599
• 30 Day Avg. Volume: 29,824,166
• PEG Ratio: >-0.01
• Price to Book (P/B): -0.17
• Price to Sales (P/S): 7.39
• P/FCF Ratio: -0.98
• 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: 52 Neutral
• Price Target: HK$2.50 ▲(5.49% Upside)

Clover Biopharmaceuticals' overall stock score is primarily impacted by its weak financial performance, characterized by persistent losses and negative cash flows. While technical analysis indicates positive momentum, the company's negative valuation metrics, including a negative P/E ratio, further weigh down the score. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Proprietary protein subunit platform

A durable technical moat: Clover's protein subunit platform supports iterative vaccine design and potential plug‑and‑play development for multiple infectious targets. That platform can speed R&D, enable variant updates, and create licensing or co‑development opportunities over months to years.

Strategic partnerships and institutional support

Partnerships with CEPI and governments provide durable non‑dilutive funding, validation and preferred procurement channels. Such relationships de‑risk commercialization, ease market access for public health programs, and can smooth revenue timing across multiple quarters.

Reported high revenue growth metric

Near‑term revenue acceleration suggests improving commercial traction or contract wins, which can underpin scale in manufacturing and bargaining power with suppliers. Sustained top‑line growth over successive quarters supports investment in margin expansion and platform leverage.

Negative Factors

Highly leveraged balance sheet

Negative equity and high leverage are enduring risks: they limit financial flexibility, increase bankruptcy or restructuring probability under stress, and make raising cost‑effective capital difficult. This structural weakness constrains long‑term strategic options and partnership leverage.

Persistent negative operating cash flow

Sustained negative operating cash flow forces reliance on external financing or asset sales, raising dilution and interest burdens. Over months this constrains R&D, manufacturing scale‑up and commercial rollouts, reducing the firm's ability to execute strategic plans without new funding.

Consistent net losses and negative margins

Ongoing losses and weak margins indicate the business hasn't yet converted scientific progress into profitable operations. Structurally, this pressures cash runway and requires either sustained revenue improvement or meaningful cost restructuring to achieve lasting financial sustainability.

Clover Biopharmaceuticals Ltd. Business Overview & Revenue Model

Company Description

Clover Biopharmaceuticals, Ltd., a biotechnology company, engages in the research, development, and commercialization of novel vaccines and biologic therapeutic candidates for infectious diseases, and cancer and autoimmune diseases. It is developing SCB-2019 (CpG 1018/Alum), a COVID-19 vaccine candidate that is in Phase II/III clinical trial; SCB-313, a trimeric fusion protein for the treatment of malignant ascites, malignant pleural effusions, and peritoneal carcinomatosis to address the global unmet medical need of intracavitary malignancies; SCB-808 that is in pivotal Phase III clinical trial for the treatment of rheumatic diseases; SCB-420, an aflibercept biosimilar that is in pre-clinical development for ophthalmologic diseases, such as wet age-related macular degeneration; and SCB-219, a novel TPOR agonist that is in pre-clinical development for the treatment of chemotherapy-induced thrombocytopenia and immune thrombocytopenic purpura. The company has a collaboration and supply arrangement with Dynavax to supply its CpG 1018 adjuvant for pre-clinical studies. Clover Biopharmaceuticals, Ltd. was founded in 2007 and is headquartered in Shanghai, China.

How the Company Makes Money

Clover Biopharmaceuticals generates revenue primarily through the development and commercialization of its vaccine products. Key revenue streams include government and institutional contracts for vaccine supply, partnerships with pharmaceutical companies for co-development and distribution, and potential licensing agreements for its proprietary technologies. The company may also receive funding through grants or investments aimed at advancing its clinical programs. Significant partnerships with entities such as the Coalition for Epidemic Preparedness Innovations (CEPI) and various governmental health agencies contribute to its earnings by providing financial support and facilitating access to broader markets.

Clover Biopharmaceuticals Ltd. Financial Statement Overview

Summary

Clover Biopharmaceuticals faces significant financial challenges, including persistent losses, negative equity, and negative cash flows. High financial leverage and an inability to generate positive cash flow from operations highlight the company's precarious financial position, which could affect its future operations and growth prospects.

Income Statement

Clover Biopharmaceuticals has consistently reported negative net income, with significant losses in gross profit and EBIT. The revenue growth has been negligible, indicating challenges in generating sales. The negative margins reflect difficulty in controlling costs relative to revenue.

Balance Sheet

The company's balance sheet is highly leveraged, with negative stockholders' equity indicating insolvency risks. The debt-to-equity ratio is not meaningful due to negative equity. Asset base is shrinking, and the negative equity ratio suggests financial instability.

Cash Flow

Operating cash flows have been negative, showing challenges in generating cash from operations. The cash position has decreased over time, and free cash flow is consistently negative, which may hinder future growth and investment capabilities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	51.77M	38.42M	39.26M	0.00	0.00	0.00
Gross Profit	-659.39M	-672.94M	24.24M	-475.64M	-66.27M	0.00
EBITDA	-881.50M	-916.54M	-45.07M	-2.37B	-2.23B	-335.04M
Net Income	-909.58M	-903.43M	-138.54M	-2.45B	-6.02B	-915.87M
Balance Sheet
Total Assets	594.21M	812.74M	2.10B	4.69B	5.35B	1.19B
Cash, Cash Equivalents and Short-Term Investments	395.74M	427.53M	766.26M	1.64B	2.87B	806.51M
Total Debt	13.05M	89.64M	334.45M	354.37M	67.92M	22.32M
Total Liabilities	2.30B	2.45B	2.83B	5.36B	4.13B	2.17B
Stockholders Equity	-1.71B	-1.64B	-732.83M	-668.14M	1.22B	-982.74M
Cash Flow
Free Cash Flow	-246.53M	-290.11M	-737.05M	-1.80B	-998.07M	363.13M
Operating Cash Flow	-246.59M	-288.49M	-727.88M	-1.69B	-917.75M	476.93M
Investing Cash Flow	13.95M	3.17M	-6.16M	-37.51M	112.12M	-394.12M
Financing Cash Flow	127.58M	-51.50M	-142.41M	483.14M	3.06B	316.85M

Clover Biopharmaceuticals Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 2.37
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2197, the sentiment is Neutral. The current price of 2.37 is below the 20-day moving average (MA) of 2.52, below the 50-day MA of 2.54, and above the 200-day MA of 1.41, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 36.11 is Neutral, neither overbought nor oversold. The STOCH value of 15.37 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2197.

Clover Biopharmaceuticals Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2197	52 Neutral	HK$2.92B	-2.80	―	―	79.98%	-3.40%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
2142	51 Neutral	HK$10.51B	16.10	35.80%	―	59.70%	239.97%
9939	48 Neutral	HK$1.39B	-6.79	-54.87%	―	―	81.67%
2179	44 Neutral	HK$2.40B	-3.40	-129.05%	―	―	-18.99%
2257	44 Neutral	HK$830.97M	-6.12	―	―	―	83.89%
6628	43 Neutral	HK$1.05B	-3.36	-34.18%	―	-57.84%	24.58%

Clover Biopharmaceuticals Ltd. Corporate Events

Clover Launches Phase 2 Trial of Combination Respiratory Vaccines in Older Adults

Clover Biopharmaceuticals has initiated a Phase 2 clinical trial in Australia for its protein-based combination respiratory vaccine candidates SCB-1022 (targeting RSV and hMPV) and SCB-1033 (targeting RSV, hMPV and PIV3), both built on its prefusion-stabilized F (PreF)-Trimer subunit antigens using the company’s Trimer-Tag technology. The randomized, observer-blinded, multi-center study will enroll up to 420 adults aged 60 to 85, comparing the two candidates against placebo to evaluate safety, reactogenicity and immunogenicity, marking a key step in Clover’s efforts to expand its respiratory vaccine pipeline for older adults and potentially strengthen its competitive position in the global vaccine market.

The most recent analyst rating on (HK:2197) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Clover Biopharmaceuticals Ltd. stock, see the HK:2197 Stock Forecast page.