Hightide Therapeutics Inc (2511) AI Stock Analysis

• Market Cap: HK$1.36B
• Dividend Yield: N/A
• Average Volume (3M): 1.41M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.44
• Revenue Growth: N/A
• EPS Growth: 47.42%
• Country: HK
• Employees: 70
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.30
• Shares Outstanding: 571,325,700
• 10 Day Avg. Volume: 641,080
• 30 Day Avg. Volume: 1,410,076
• PEG Ratio: 0.02
• Price to Book (P/B): <0.01
• Price to Sales (P/S): 0.00
• P/FCF Ratio: >-0.01
• 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: 46 Neutral
• Price Target: HK$3.00 ▼(-1.64% Downside)

The score is primarily held back by weak financial performance (no revenue, ongoing cash burn, and increased debt despite improved losses). Technical indicators are mixed with neutral momentum and negative MACD, while valuation remains constrained by losses and the absence of a dividend yield.

Positive Factors

Clinical Trial Success

The success of HTD1801 in Phase III trials positions it as a potential foundational therapy, enhancing the company's product pipeline and market potential.

Governance Improvement

The establishment of a Nomination Committee aligns with best practices, potentially improving transparency, board oversight, and investor confidence.

Product Pipeline Development

HTD1801's renal benefits support the strategic focus on comprehensive treatments, enhancing the company's competitive position in metabolic disease management.

Negative Factors

Cash Burn

Persistent negative cash flow indicates reliance on external funding, increasing financial risk and potential dilution for shareholders.

No Revenue Generation

The lack of revenue generation highlights a pre-commercial profile, elevating execution and funding risks despite improved loss trajectory.

Rising Debt Levels

Increased debt levels, while manageable, add financial strain and could impact long-term stability if revenue generation does not commence.

Hightide Therapeutics Inc Business Overview & Revenue Model

Company Description

HighTide Therapeutics, Inc., an investment holding company, engages in the discovery, research and development, and commercialization of multifunctional therapies for the treatment of metabolic and digestive diseases with unmet medical needs. Its lead product candidate is HTD1801, a gut-liver anti-inflammatory metabolic modulator that targets metabolic dysfunction-associated steatohepatitis, type 2 diabetes mellitus, severe hypertriglyceridemia, primary sclerosing cholangitis, and primary biliary cholangitis. The company is also developing HTD4010, a polypeptide drug for the treatment of alcoholic hepatitis; HTD1804 to treat obesity; HTD1805, a multifunctional small molecule drug for the treatment of metabolic diseases; and HTD2802 for the treatment of inflammatory bowel disease. HighTide Therapeutics, Inc. was founded in 2011 and is headquartered in Shenzhen, China.

How the Company Makes Money

Hightide Therapeutics Inc generates revenue through the development and commercialization of its proprietary drug candidates. The company earns money by advancing its product pipeline through clinical trials and securing regulatory approvals for its therapies. Revenue streams include potential partnerships and licensing agreements with other pharmaceutical companies, which can provide milestone payments and royalties. Additionally, Hightide may receive funding through collaborations with research institutions and government grants aimed at supporting innovative healthcare solutions. These partnerships and collaborations are significant contributors to the company's earnings, allowing it to fund ongoing research and development activities.

Hightide Therapeutics Inc Financial Statement Overview

Summary

Pre-revenue profile with no reported revenue across 2021–2024 and continued negative earnings/cash burn. Positives include a sharp improvement in net loss in 2024 and a balance-sheet recovery to positive equity, but ongoing negative operating/free cash flow and rising total debt increase funding and execution risk.

Income Statement

Across 2021–2024 annual reports, the company reports no revenue, which keeps profitability metrics effectively non-meaningful and highlights a pre-commercial profile. Losses remain substantial, but the trajectory improved sharply: net loss narrowed from about -1,037,931,248 (2023) to about -381,788 (2024), alongside a dramatic reduction in operating losses. The key weakness is the lack of revenue generation and continued negative earnings, which still elevates execution and funding risk despite the improved loss profile.

Balance Sheet

Leverage is currently moderate, with debt-to-equity at ~0.18 in 2024 versus ~0.02 in 2023, indicating debt has increased but remains manageable relative to equity. The balance sheet also shows a major turnaround from negative equity in 2021–2022 to positive equity in 2023–2024, which materially improves financial stability and reduces solvency concerns. The main watch-out is the step-up in total debt (from ~16.4M in 2023 to ~77.9M in 2024) while the business remains loss-making and pre-revenue.

Cash Flow

Cash generation remains a clear weakness: operating cash flow and free cash flow are negative in every year shown, with 2024 operating cash flow around -294.8M and free cash flow around -299.5M. Cash burn improved versus 2023 (when operating cash flow was about -367.7M), but free cash flow still deteriorated versus the prior year per the provided growth figure (-25.384). With no revenue base, the business appears reliant on external funding to sustain operations, which increases financing and dilution risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	-2.02M	-1.30M	-1.56M
EBITDA	-196.37K	-444.22K	-1.04B	-229.56M	-131.80M
Net Income	-291.16K	-381.79K	-1.04B	-190.24M	-221.15M
Balance Sheet
Total Assets	528.48M	559.93M	795.04M	855.82M	777.23M
Cash, Cash Equivalents and Short-Term Investments	467.01M	490.52M	735.70M	828.33M	763.91M
Total Debt	99.47M	77.91M	16.43M	1.27B	1.01B
Total Liabilities	160.66M	135.76M	92.26M	1.33B	1.05B
Stockholders Equity	315.51M	424.17M	702.77M	-470.53M	-271.77M
Cash Flow
Free Cash Flow	-112.44M	-299.46M	-368.56M	-172.90M	-90.12M
Operating Cash Flow	-107.85M	-294.81M	-367.67M	-172.71M	-88.40M
Investing Cash Flow	65.21M	-89.72M	321.64M	-415.66M	1.59M
Financing Cash Flow	60.92M	54.79M	399.46M	46.03M	493.98M

Hightide Therapeutics Inc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2511, the sentiment is Negative. The current price of 3.05 is above the 20-day moving average (MA) of 2.80, above the 50-day MA of 2.82, and below the 200-day MA of 3.07, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 41.67 is Neutral, neither overbought nor oversold. The STOCH value of 22.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2511.

Hightide Therapeutics Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1875	60 Neutral	HK$3.18B	392.38	0.99%	―	9.41%	-32.69%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
6998	48 Neutral	HK$5.02B	56.31	2.04%	―	1447.56%	―
2511	46 Neutral	HK$1.36B	-3.85	-67.27%	―	―	47.42%
2181	45 Neutral	HK$2.23B	-75.00	-25.72%	―	178.36%	86.74%
2137	43 Neutral	HK$1.09B	-2.71	-14.48%	―	―	-41.48%
2126	41 Neutral	HK$1.01B	-1.48	-51.56%	―	2.45%	2.58%

Hightide Therapeutics Inc Corporate Events

HighTide Therapeutics Sets Up Nomination Committee to Bolster Governance

HighTide Therapeutics, Inc. has formally established a Nomination Committee of its board of directors, effective from the date its shares were listed on the Hong Kong Stock Exchange, to oversee the nomination and governance process for directors and senior management. The creation of this committee, and the related governance framework defining key roles and responsibilities, signals a further alignment with Hong Kong listing requirements and best practices in corporate governance, which may enhance transparency, board oversight and confidence among investors and other stakeholders.

HighTide Therapeutics’ HTD1801 Outperforms in Phase III Trial

HighTide Therapeutics announced positive results from its Phase III HARMONY trial, where its drug HTD1801 showed superior improvements in cardiometabolic markers for patients with type 2 diabetes mellitus compared to dapagliflozin. The trial’s success underscores HTD1801’s potential as a foundational therapy in CKM disease management, and the company plans to submit a New Drug Application later this year.

HighTide Therapeutics Showcases Renal Benefits of HTD1801 at ASN Meeting

HighTide Therapeutics presented evidence at the ASN Annual Meeting showing that their drug HTD1801 benefits patients with mild renal impairment by improving eGFR trajectory and normalizing renal function. This development highlights HTD1801’s potential as a foundational therapy in CKM disease management, reinforcing the company’s strategic focus on delivering comprehensive treatments for chronic metabolic diseases.

HighTide Therapeutics Reports Positive Phase III Results for HTD1801 in Diabetes Treatment

HighTide Therapeutics, Inc. announced positive results from two Phase III trials of HTD1801, demonstrating durable efficacy and safety over 52 weeks in treating type 2 diabetes mellitus (T2DM). The trials, SYMPHONY-1 and SYMPHONY-2, showed significant reductions in glycated hemoglobin (HbA1c) and maintained improvements in cardiometabolic and renal endpoints. The company plans to submit a new drug application for HTD1801 in China, highlighting its potential as a foundational therapy in CKM disease management.