Akeso, Inc. (9926) AI Stock Analysis

• Market Cap: HK$130.62B
• Dividend Yield: N/A
• Average Volume (3M): 12.43M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.63
• Revenue Growth: 33.46%
• EPS Growth: -7.60%
• Country: HK
• Employees: 3,035
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.70
• Shares Outstanding: 921,143,200
• 10 Day Avg. Volume: 3,834,663
• 30 Day Avg. Volume: 12,429,052
• PEG Ratio: 0.76
• Price to Book (P/B): 7.12
• Price to Sales (P/S): 22.84
• P/FCF Ratio: -43.58
• 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$179.48
• Price Target Upside: 36.49% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 10

• Rating: 50 Neutral
• Price Target: HK$131.00 ▼(-0.38% Downside)

Akeso, Inc.'s overall stock score is primarily impacted by its financial performance and valuation challenges. The company's profitability issues and negative cash flow are significant concerns. Technical analysis indicates a bearish trend, further contributing to the lower score. The absence of earnings call insights and corporate events means these factors did not influence the score.

Positive Factors

Revenue Growth

Akeso, Inc. has shown strong revenue growth of over 33%, indicating robust demand for its innovative therapies and potential for market expansion.

Strong Gross Margins

Strong gross margins reflect efficient production and pricing strategies, supporting the company's ability to reinvest in R&D and maintain competitive advantage.

Proprietary Technology Platform

Akeso's proprietary technology platform for antibody drugs provides a competitive edge in developing unique treatments, enhancing long-term growth prospects.

Negative Factors

Profitability Challenges

Ongoing profitability challenges, including negative net profit margins, may hinder Akeso's ability to sustain operations and invest in future growth.

Negative Cash Flow

Negative cash flow from operations indicates difficulties in cash generation, potentially limiting Akeso's financial flexibility and operational sustainability.

Operational Inefficiencies

Negative EBIT and EBITDA margins highlight operational inefficiencies, which could impact Akeso's ability to achieve profitability and scale effectively.

Akeso, Inc. Business Overview & Revenue Model

Company Description

Akeso, Inc., a biopharmaceutical company, researches, develops, manufactures, and commercializes therapies. The company develops AK104, a PD-1/CTLA-4 bi-specific antibody to treat cervical cancer, gastric cancer (GC), gastroesophageal junction (GEJ) adenocarcinoma, hepatocellular carcinoma (HCC), non-small cell lung cancer (NSCLC), small cell lung cancer (SCLC), nasopharyngeal carcinoma (NPC), clear cell renal cell carcinoma, and solid tumors; and AK112, a PD-1/VEGF bi-specific antibody to treat solid and gynecological tumors, NSCLC, SCLC, and triple-negative breast cancer (TNBC). It is also developing AK105, a PD-1 monoclonal antibody to treat NSCLC, NPC, classic Hodgkin's lymphoma (R/R cHL), HCC, head and neck cancer, thyroid cancer, mesothelioma and thymic cancer, ESCC, UC, GC, GEJ, cholangiocarcinoma, neuroendocrine tumor, and mismatch repair deficient solid tumor; AK117, a CD47 monoclonal antibody to treat myelodysplastic syndrome, acute myeloid leukemia, GC, GEJ, ESCC, TNBC, HNSCC, R/R cHL, NPC, NSCLC, and solid tumors/lymphoma; AK119, a CD73 monoclonal antibody for treating solid tumors; and AK109, a VEGFR-2 monoclonal antibody to treat solid tumors and gastric cancer. In addition, the company develops AK120, an IL-4R monoclonal antibody to treat moderate-to-severe atopic dermatitis and asthma, and eosinophilic esophagitis; AK101, an IL-12/IL-23 monoclonal antibody to treat moderate-to-severe psoriasis and ulcerative colitis; AK111, an IL-17 monoclonal antibody to treat moderate-to-severe psoriasis and ankylosing spondylitis; and AK102, a PCSK9 monoclonal antibody to treat hypercholesterolemia. Further, its preclinical product includes AK127, a TIGIT monoclonal antibody to treat solid tumors; and AK115, a NGF monoclonal antibody. The company has collaboration agreements with Pfizer Pharmaceuticals, AstraZeneca Pharmaceuticals, and MD Anderson Medical Institute. Akeso, Inc. was founded in 2012 and is headquartered in Zhongshan, the People's Republic of China.

How the Company Makes Money

Akeso, Inc. generates revenue through the development and commercialization of its proprietary antibody-based therapeutics. The company earns money through the sale of its approved drugs, licensing agreements, and strategic partnerships with other pharmaceutical and biotechnology companies. These collaborations often involve upfront payments, milestone payments, and royalties on sales of successfully developed products. Additionally, Akeso may engage in research and development agreements where it receives funding in exchange for access to its technology platform and expertise in antibody drug development.

Akeso, Inc. Financial Statement Overview

Summary

Akeso, Inc. exhibits a mixed financial profile with strong gross margins but persistent profitability issues. The balance sheet is moderately leveraged, and cash flow challenges highlight potential liquidity risks. The company needs to improve operational efficiency and cash management to enhance overall financial health.

Income Statement

Akeso, Inc. has demonstrated inconsistent revenue growth, with a significant decline from 2023 to 2024. The gross profit margin remains strong, but the company has faced negative net profit margins in recent years, indicating ongoing profitability challenges. The EBIT and EBITDA margins have also been negative, highlighting operational inefficiencies.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio, suggesting manageable leverage. Equity ratio is relatively stable, reflecting a balanced asset structure. However, the negative ROE indicates that the company is not currently generating positive returns on equity, posing a risk to shareholder value.

Cash Flow

Cash flow from operations has been negative in 2024, reflecting challenges in cash generation. Free cash flow has decreased, and the ratio of operating cash flow to net income indicates inefficiencies in cash management. Despite this, the financing cash flow suggests some level of external capital support.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.51B	2.12B	4.53B	837.66M	225.63M	0.00
Gross Profit	2.02B	1.83B	4.39B	734.54M	195.41M	-1.90M
EBITDA	-704.02M	-604.99M	2.17B	-1.27B	-1.32B	-1.01B
Net Income	-846.01M	-514.51M	2.03B	-1.17B	-1.07B	-1.04B
Balance Sheet
Total Assets	13.29B	12.75B	9.18B	5.50B	4.81B	3.86B
Cash, Cash Equivalents and Short-Term Investments	7.14B	7.32B	4.88B	2.29B	2.65B	2.80B
Total Debt	4.54B	3.95B	2.99B	1.88B	859.42M	198.99M
Total Liabilities	6.93B	6.00B	4.66B	2.95B	1.53B	405.73M
Stockholders Equity	6.44B	6.81B	4.69B	2.64B	3.16B	3.19B
Cash Flow
Free Cash Flow	-163.83M	-1.11B	1.59B	-2.02B	-1.71B	-1.06B
Operating Cash Flow	-408.62M	-527.62M	2.47B	-1.24B	-1.00B	-617.77M
Investing Cash Flow	-3.48B	-1.52B	-4.00B	-889.75M	-579.59M	-555.70M
Financing Cash Flow	2.84B	3.39B	960.89M	1.49B	1.59B	2.88B

Akeso, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 131.50
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9926, the sentiment is Negative. The current price of 131.5 is below the 20-day moving average (MA) of 134.00, below the 50-day MA of 148.79, and above the 200-day MA of 98.89, indicating a neutral trend. The MACD of -2.75 indicates Negative momentum. The RSI at 39.09 is Neutral, neither overbought nor oversold. The STOCH value of 36.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9926.

Akeso, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2269	73 Outperform	$171.69B	36.75	9.79%	―	16.90%	63.11%
1177	68 Neutral	$152.73B	38.26	11.72%	1.14%	13.69%	50.71%
1801	55 Neutral	$179.41B	128.03	8.41%	―	52.78%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
9926	50 Neutral	HK$130.62B	―	-14.40%	―	33.46%	-7.60%
9995	47 Neutral	HK$69.69B	―	-45.12%	―	47.62%	28.72%
1877	46 Neutral	HK$42.93B	―	-16.25%	―	44.17%	46.11%

Akeso, Inc. Corporate Events

Akeso, Inc. Completes Share Placement, Raises HK$3.49 Billion for R&D

Akeso, Inc. has successfully completed the placing of new and existing shares, raising approximately HK$3,493.01 million in net proceeds. The funds will primarily be used for global and China R&D of its innovative pipeline, including clinical trials for cancer treatments and the development of next-generation therapeutic technology platforms.

The most recent analyst rating on (HK:9926) stock is a Buy with a HK$177.00 price target. To see the full list of analyst forecasts on Akeso, Inc. stock, see the HK:9926 Stock Forecast page.

Akeso, Inc. Announces Share Placement to Boost Market Position

Akeso, Inc. has announced the placement of new and existing shares under a general mandate. The company has entered into an agreement with a placing agent to place 23,550,000 shares at a price of HK$149.54 per share. These shares will be offered to professional, institutional, or other independent investors, ensuring that no single investor becomes a substantial shareholder. This move is expected to enhance Akeso’s financial flexibility and strengthen its market position.

The most recent analyst rating on (HK:9926) stock is a Hold with a HK$158.00 price target. To see the full list of analyst forecasts on Akeso, Inc. stock, see the HK:9926 Stock Forecast page.

Akeso, Inc. Reports Revenue Growth but Faces Increased Losses in H1 2025

Akeso, Inc. reported a 37.75% increase in revenue for the first half of 2025, reaching RMB1,411.5 million, driven by a 49.20% rise in commercial sales. Despite the revenue growth, the company experienced a loss of RMB588.3 million, attributed to increased equity investment losses in Summit Therapeutics, higher R&D expenses, and elevated equity incentive costs.

The most recent analyst rating on (HK:9926) stock is a Hold with a HK$158.00 price target. To see the full list of analyst forecasts on Akeso, Inc. stock, see the HK:9926 Stock Forecast page.

Akeso, Inc. Details Nomination Committee’s Terms of Reference

Akeso, Inc. has outlined the terms of reference for its Nomination Committee, which was established by the board of directors in April 2020. The committee’s primary role is to identify and recommend suitable candidates for the company’s board of directors and to develop nomination guidelines in compliance with relevant laws and regulations. The committee is composed mainly of independent non-executive directors and is required to meet at least once a year, with provisions for additional meetings as needed. This structure aims to ensure effective governance and strategic leadership within the company.

The most recent analyst rating on (HK:9926) stock is a Hold with a HK$158.00 price target. To see the full list of analyst forecasts on Akeso, Inc. stock, see the HK:9926 Stock Forecast page.

Akeso, Inc. Schedules Board Meeting for Interim Results Approval

Akeso, Inc. has announced that its board of directors will meet on August 26, 2025, to consider and approve the interim results for the first half of the year ending June 30, 2025. This meeting is crucial as it will determine the company’s financial performance and strategic direction, impacting stakeholders and potentially influencing its market position.

The most recent analyst rating on (HK:9926) stock is a Buy with a HK$58.97 price target. To see the full list of analyst forecasts on Akeso, Inc. stock, see the HK:9926 Stock Forecast page.