Duality Biotherapeutics, Inc. (9606) AI Stock Analysis

• Market Cap: HK$26.18B
• Dividend Yield: N/A
• Average Volume (3M): 1.60M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.99
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: HK
• Employees: 170
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): N/A
• Shares Outstanding: 88,036,260
• 10 Day Avg. Volume: 2,424,103
• 30 Day Avg. Volume: 1,602,164
• PEG Ratio: -0.08
• Price to Book (P/B): -7.92
• Price to Sales (P/S): 8.25
• P/FCF Ratio: 62.90
• 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: HK$461.67
• Price Target Upside: 54.61% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: HK$305.00 ▲(2.14% Upside)

The overall stock score is primarily influenced by financial performance and technical analysis. The company's strong revenue growth is overshadowed by significant financial instability and profitability concerns. The technical indicators suggest a bearish trend, further weighing down the score. The absence of valuation metrics adds uncertainty to the stock's assessment.

Positive Factors

Revenue Growth

The substantial revenue growth indicates strong market demand and successful execution of strategic initiatives, enhancing long-term business prospects.

Strategic Partnerships

Strategic partnerships provide a stable revenue stream and access to resources, aiding in sustained growth and innovation.

Product Pipeline

A diverse product pipeline enhances the company's ability to address unmet medical needs, supporting long-term growth and market relevance.

Negative Factors

Financial Instability

High leverage and negative equity can limit financial flexibility and increase risk, potentially impacting long-term sustainability.

Profitability Concerns

Sustained profitability challenges can hinder reinvestment in growth initiatives and affect the company's competitive position.

Cash Flow Challenges

Declining cash flow growth can strain operations and limit the ability to fund new projects, affecting long-term growth potential.

Duality Biotherapeutics, Inc. Business Overview & Revenue Model

Company Description

Duality Biotherapeutics, Inc. operates as a clinical stage company. It focuses on the development of next generation antibody-drug conjugate therapeutics and duality immune toxin antibody conjugate therapeutic. The company was founded by Zhu Zhong Yuan on July 3, 2019 and is headquartered in Shanghai, China.

How the Company Makes Money

Duality Biotherapeutics generates revenue primarily through strategic partnerships and collaborations with pharmaceutical companies, which often involve milestone payments and royalties on sales of products developed through these partnerships. Additionally, the company may receive funding from government grants and research institutions in support of its clinical trials and development programs. The commercialization of its proprietary therapeutics once they receive regulatory approval will also contribute to revenue through direct sales and licensing agreements. Furthermore, Duality's ability to attract investments from venture capital and private equity firms plays a crucial role in funding its research and development efforts, thereby indirectly supporting its revenue generation capacity.

Duality Biotherapeutics, Inc. Financial Statement Overview

Summary

Duality Biotherapeutics, Inc. shows strong revenue growth but faces significant challenges with profitability and financial stability. The negative equity and high leverage are major concerns, while cash flow management presents mixed results.

Income Statement

The company shows significant revenue growth, with a 1654.84% increase in 2024. However, profitability remains a concern as indicated by negative net profit and EBIT margins. The gross profit margin has decreased from 76.06% in 2023 to 40.42% in 2024, reflecting increased cost pressures.

Balance Sheet

The balance sheet reveals high leverage with negative stockholders' equity, indicating financial instability. The debt-to-equity ratio is negative, and the return on equity is positive due to negative equity, which is misleading. The equity ratio is not calculable due to negative equity.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth, with a significant drop of -264.20% in 2024. The operating cash flow to net income ratio is low, indicating challenges in converting income into cash. However, the free cash flow to net income ratio is relatively strong at 0.89.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	1.71B	1.94B	1.79B	1.60M
Gross Profit	714.52M	784.67M	1.36B	1.60M
EBITDA	-353.67M	-1.01B	-197.07M	-385.22M
Net Income	-2.56B	-1.05B	-357.51M	-387.09M
Balance Sheet
Total Assets	4.18B	2.09B	1.50B	463.74M
Cash, Cash Equivalents and Short-Term Investments	3.70B	1.39B	1.13B	375.97M
Total Debt	67.89M	5.29M	5.32M	4.67M
Total Liabilities	1.26B	4.11B	2.62B	1.23B
Stockholders Equity	2.91B	-2.02B	-1.12B	-769.12M
Cash Flow
Free Cash Flow	845.06M	254.60M	780.43M	-321.67M
Operating Cash Flow	855.12M	285.78M	816.34M	-299.47M
Investing Cash Flow	-651.24M	-211.15M	-78.55M	-22.20M
Financing Cash Flow	1.73B	-7.62M	10.82M	451.46M

Duality Biotherapeutics, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0719	70 Outperform	HK$9.95B	11.63	7.48%	4.30%	1.65%	-16.38%
2273	63 Neutral	HK$6.61B	18.11	14.86%	2.74%	16.41%	32.97%
6699	63 Neutral	HK$11.48B	240.00	―	―	―	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
2142	51 Neutral	HK$11.29B	17.32	35.80%	―	59.70%	239.97%
9606	44 Neutral	HK$26.18B	―	―	―	―	―
2216	40 Neutral	HK$1.31B	-10.19	-8.93%	―	-30.60%	28.61%

Duality Biotherapeutics, Inc. Corporate Events

Duality Biotherapeutics Plans RMB Share Listing on Shanghai’s Sci-Tech Board

Duality Biotherapeutics, Inc. has announced a proposal to issue ordinary shares in Renminbi to be listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange. This proposed issuance is contingent upon market conditions, board and shareholder approvals, and necessary regulatory clearances. The company has not yet made any regulatory applications, and the proposal may be subject to change, with no assurance of proceeding.

The most recent analyst rating on (HK:9606) stock is a Hold with a HK$332.00 price target. To see the full list of analyst forecasts on Duality Biotherapeutics, Inc. stock, see the HK:9606 Stock Forecast page.

Duality Biotherapeutics Gains Inclusion in Key Stock Indices

Duality Biotherapeutics, Inc., a company incorporated in the Cayman Islands, has announced its inclusion as a constituent of the Hang Seng Composite Index and as part of the eligible stock list for the Southbound Trading Link of the Shanghai-Hong Kong Stock Connect. This development signifies strong market recognition of the company’s performance and value, potentially expanding its investor base and increasing trading liquidity by allowing mainland Chinese investors to invest directly in its shares.

The most recent analyst rating on (HK:9606) stock is a Buy with a HK$367.06 price target. To see the full list of analyst forecasts on Duality Biotherapeutics, Inc. stock, see the HK:9606 Stock Forecast page.

Duality Biotherapeutics Achieves Key Milestone in Cancer Drug Trial

Duality Biotherapeutics, Inc. announced that its Phase III clinical trial for DB-1303/BNT323 in HER2-positive unresectable or metastatic breast cancer patients met its primary endpoint of progression-free survival. This achievement marks a significant step towards the potential approval of DB-1303/BNT323, as the company plans to discuss a Biologics License Application with China’s National Medical Products Administration. The drug, developed in partnership with BioNTech SE, has shown promise across various cancer types and has received Fast Track and Breakthrough Therapy Designations from the FDA and NMPA, highlighting its potential impact on cancer treatment options.

The most recent analyst rating on (HK:9606) stock is a Buy with a HK$367.06 price target. To see the full list of analyst forecasts on Duality Biotherapeutics, Inc. stock, see the HK:9606 Stock Forecast page.

Duality Biotherapeutics Reports Strong Pipeline Progress Amid Financial Losses

Duality Biotherapeutics, Inc. announced its interim results for the first half of 2025, highlighting a 22.9% increase in revenue compared to the same period in 2024, despite a significant loss for the period. The company has made substantial progress in its pipeline development, including the FDA’s Fast Track Designation for its HER3-targeting ADC DB-1310 and the initiation of a Phase 1/2 clinical study for DB-1418/AVZO-1418. These advancements, alongside promising clinical trial data presented at major oncology conferences, underscore Duality’s commitment to innovation in cancer treatment and its potential impact on the biotherapeutics industry.

The most recent analyst rating on (HK:9606) stock is a Hold with a HK$344.00 price target. To see the full list of analyst forecasts on Duality Biotherapeutics, Inc. stock, see the HK:9606 Stock Forecast page.

Duality Biotherapeutics Schedules Board Meeting for Interim Results

Duality Biotherapeutics, Inc. has announced a board meeting scheduled for August 26, 2025, to consider and approve the company’s unaudited interim results for the first half of the year. This meeting is significant as it will provide insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and stakeholder interests.

The most recent analyst rating on (HK:9606) stock is a Buy with a HK$270.34 price target. To see the full list of analyst forecasts on Duality Biotherapeutics, Inc. stock, see the HK:9606 Stock Forecast page.