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Alphamab Oncology (HK:9966)
:9966
Hong Kong Market

Alphamab Oncology (9966) AI Stock Analysis

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HK

Alphamab Oncology

(9966)

Rating:51Neutral
Price Target:
HK$6.50
▼(-1.22%Downside)
The stock's overall performance is moderate. The financial performance shows strong revenue growth and profitability improvements but is weighed down by poor cash flow metrics. Technical analysis indicates a bearish trend, and valuation suggests moderate pricing with no dividend yield. These factors combined result in a cautious outlook.

Alphamab Oncology (9966) vs. iShares MSCI Hong Kong ETF (EWH)

Alphamab Oncology Business Overview & Revenue Model

Company DescriptionAlphamab Oncology, a clinical stage biopharmaceutical company, engages in the discovery, development, manufacture, and commercialization of oncology biologics. Its product pipeline includes KN046, a bispecific monoclonal antibody (BsAb) immune checkpoint inhibitor, which is in pivotal Phase III clinical trials that targets clinically-validated immune checkpoints, including programmed death ligand 1 (PD-L1) and cytotoxic T-lymphocyte-associated protein 4 (CTLA-4); and KN026, a next generation anti-human epidermal growth factor receptor 2 (HER2) BsAb that is in Phase II clinical trials for treating HER2-positive breast cancers and I/II clinical trial treatment of heavily pre-treated breast cancers, as well as Phase II clinical trial for HER2-positive solid tumors. The company's product pipeline also comprises KN019, a CTLA-4-based immunosuppressant fusion protein, which is in Phase II clinical trial with potential broad applications in both auto-immune diseases and oncology treatment-induced immune disorders; and KN035, an injectable PD-L1 inhibitor that has completed phase II pivotal clinical trials for deficient mismatch repair/microsatellite instability-high solid tumors, and is in Phase III pivotal trials for biliary tract cancer. In addition, its product pipeline also includes KN052 an innovative PD-L1/OX40 bispecific antibody, which is in phase Ia/Ib clinical trial for the treatment of advanced solid tumors. The company was founded in 2008 and is headquartered in Suzhou, the People's Republic of China.
How the Company Makes MoneyAlphamab Oncology generates revenue primarily through the development and commercialization of its proprietary oncology therapies. The company engages in licensing agreements and strategic partnerships with other pharmaceutical companies, which provide upfront payments, milestone payments, and royalties based on the successful development and commercialization of its drug candidates. Additionally, Alphamab Oncology may earn revenue from the sales of its approved drugs in the market. The company's focus on innovative biologics and ADCs positions it to capitalize on the growing demand for targeted cancer therapies, contributing to its financial performance.

Alphamab Oncology Financial Statement Overview

Summary
Alphamab Oncology exhibits strong revenue growth and improved profitability metrics, marking a positive financial trajectory. The balance sheet is stable with low leverage, but cash flow generation is a significant concern. To enhance financial health, the company must focus on converting profits into cash flow and maintaining operational efficiency.
Income Statement
75
Positive
Alphamab Oncology has shown a commendable revenue growth from 2023 to 2024, significantly increasing from HK$218.77M to HK$640.08M. The gross profit margin for 2024 is robust at 90.57%, indicating efficient cost management. The net profit margin also turned positive at 25.98% from a negative position, demonstrating a turnaround in profitability. However, the EBIT and EBITDA margins, although improved, indicate room for further operational efficiency enhancements.
Balance Sheet
60
Neutral
The balance sheet reveals a solid equity ratio of 81.69%, highlighting strong financial stability. The debt-to-equity ratio is low at 0.10, showing prudent leverage management. However, the return on equity (ROE) at 9.08% suggests moderate profitability on shareholder investment. The company maintains a healthy cash position, but consistent profitability will be crucial for sustaining this stability.
Cash Flow
40
Negative
Cash flow metrics are underwhelming as operating and free cash flows are zero for 2024, reflecting potential challenges in cash generation from operations. While the company has improved its net income, translating this to positive cash flow remains a critical area for improvement to ensure long-term financial health.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue640.08M218.77M166.84M146.02M0.00
Gross Profit579.77M163.54M122.64M142.99M0.00
EBITDA156.79M-129.30M-391.83M-358.13M-390.47M
Net Income166.34M-210.59M-325.72M-412.42M-427.77M
Balance Sheet
Total Assets2.24B2.14B2.12B2.71B2.64B
Cash, Cash Equivalents and Short-Term Investments1.57B1.41B1.35B1.99B2.06B
Total Debt185.96M257.08M345.39M637.27M222.81M
Total Liabilities409.87M465.00M559.86M834.80M366.44M
Stockholders Equity1.83B1.67B1.56B1.87B2.27B
Cash Flow
Free Cash Flow190.56M-239.02M-429.96M-478.72M-438.00M
Operating Cash Flow212.34M-202.84M-300.31M-320.60M-347.18M
Investing Cash Flow-92.93M-18.11M850.76M574.26M-1.52B
Financing Cash Flow-98.96M218.07M-310.90M363.90M186.58M

Alphamab Oncology Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price6.58
Price Trends
50DMA
7.44
Negative
100DMA
6.75
Negative
200DMA
5.22
Positive
Market Momentum
MACD
-0.39
Positive
RSI
43.43
Neutral
STOCH
45.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9966, the sentiment is Neutral. The current price of 6.58 is below the 20-day moving average (MA) of 6.87, below the 50-day MA of 7.44, and above the 200-day MA of 5.22, indicating a neutral trend. The MACD of -0.39 indicates Positive momentum. The RSI at 43.43 is Neutral, neither overbought nor oversold. The STOCH value of 45.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:9966.

Alphamab Oncology Peers Comparison

Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
66
Neutral
HK$6.53B165.931.43%2433.62%
59
Neutral
HK$15.54B5.61-7.44%4.07%11.55%-28.15%
57
Neutral
HK$8.62B-13.97%-97.81%-117.20%
51
Neutral
HK$6.35B34.919.52%185.36%
51
Neutral
HK$8.93B-51.40%58.75%-1310.16%
50
Neutral
HK$2.29B-75.64%42.21%29.52%
46
Neutral
HK$6.62B274.482.28%-57.55%-87.49%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:9966
Alphamab Oncology
6.55
4.24
183.55%
HK:3681
SinoMab Bioscience Ltd.
1.96
0.27
15.98%
HK:2256
Abbisko Cayman Limited
9.74
6.56
206.29%
HK:2157
Lepu Biopharma Co. Ltd. Class H
4.99
1.71
52.13%
HK:2142
HBM Holdings Ltd.
7.96
6.63
498.50%
HK:1672
Ascletis Pharma, Inc.
9.02
8.06
839.58%

Alphamab Oncology Corporate Events

Alphamab Oncology Forms Nomination Committee to Strengthen Governance
Jun 30, 2025

Alphamab Oncology has established a Nomination Committee to enhance its corporate governance structure. The committee will be responsible for reviewing the board’s composition, identifying qualified candidates for directorships, and ensuring board diversity. This move is expected to strengthen the company’s strategic direction and improve stakeholder confidence.

Alphamab Oncology Announces Board Changes
Jun 30, 2025

Alphamab Oncology announced changes in its board of directors, with the resignation of Dr. Guo Zijian and Mr. Wei Kevin Cheng as independent non-executive directors, effective June 30, 2025, due to personal and work commitments. The company has appointed Ms. Wong Yan Ki Angel and Dr. Gao Xiang as new independent non-executive directors, bringing extensive experience in accounting, corporate finance, and capital markets, which could positively impact Alphamab’s strategic direction and governance.

Alphamab Oncology Secures Shareholder Approval for Key Resolutions at AGM
Jun 12, 2025

Alphamab Oncology announced that all proposed resolutions at their Annual General Meeting on June 12, 2025, were approved by shareholders. Key resolutions included the approval of financial statements, granting mandates for share repurchase and issuance, and the re-election of directors, indicating strong shareholder support and potentially enhancing the company’s strategic flexibility and governance.

Alphamab Oncology Completes Share Placing by Controlling Shareholder
Jun 6, 2025

Alphamab Oncology announced the completion of a share placing by its controlling shareholder, involving 14,600,000 shares, which represents approximately 1.51% of the company’s issued share capital. This transaction, executed at HK$8.05 per share, adjusts the shareholding distribution, with the Vendor now holding 31.0% of shares. This move is likely to impact the company’s market positioning and shareholder dynamics.

The most recent analyst rating on (HK:9966) stock is a Buy with a HK$7.00 price target. To see the full list of analyst forecasts on Alphamab Oncology stock, see the HK:9966 Stock Forecast page.

Alphamab Oncology Presents Promising JSKN003 Research at ASCO 2025
Jun 3, 2025

Alphamab Oncology has announced research updates for its drug JSKN003, presented at the 2025 ASCO Annual Meeting. The updates highlight the drug’s efficacy and safety in treating advanced solid tumors, including platinum-resistant ovarian cancer and heavily pretreated HER2-positive breast cancer. The studies show promising results, with significant tumor shrinkage and manageable safety profiles, positioning JSKN003 as a potential treatment option in ongoing phase III trials.

The most recent analyst rating on (HK:9966) stock is a Buy with a HK$7.00 price target. To see the full list of analyst forecasts on Alphamab Oncology stock, see the HK:9966 Stock Forecast page.

Alphamab Oncology’s Controlling Shareholder to Sell 1.51% Stake
Jun 2, 2025

Alphamab Oncology announced that its controlling shareholder, Rubymab Ltd., has entered into a share placing agreement with Morgan Stanley & Co. International plc to sell 14,600,000 existing shares, representing approximately 1.51% of the company’s total issued share capital. This transaction is expected to slightly reduce Rubymab Ltd.’s stake in the company from 32.5% to 31.0%, potentially impacting the company’s shareholder structure and market perception.

The most recent analyst rating on (HK:9966) stock is a Buy with a HK$7.00 price target. To see the full list of analyst forecasts on Alphamab Oncology stock, see the HK:9966 Stock Forecast page.

Alphamab Oncology Grants Award Shares to Directors
May 29, 2025

Alphamab Oncology has announced the grant of 120,000 award shares under its Restricted Share Award Scheme to three directors, including one non-executive and two independent non-executive directors. This move is part of the company’s strategy to reward the directors for their contributions and align their interests with the company’s goals. The shares will vest over 24 months and do not have performance targets, which the Remuneration Committee believes is consistent with market practices and the company’s remuneration policy.

The most recent analyst rating on (HK:9966) stock is a Buy with a HK$7.00 price target. To see the full list of analyst forecasts on Alphamab Oncology stock, see the HK:9966 Stock Forecast page.

Alphamab Oncology Schedules Annual General Meeting to Discuss Key Resolutions
May 20, 2025

Alphamab Oncology has announced its upcoming Annual General Meeting scheduled for June 12, 2025, in Suzhou, China. The meeting will address several key resolutions, including the approval of financial statements and the authorization for directors to repurchase shares and issue additional shares. These resolutions are expected to impact the company’s operational strategies and shareholder value, reflecting its commitment to maintaining a strong market position and enhancing shareholder returns.

The most recent analyst rating on (HK:9966) stock is a Buy with a HK$7.00 price target. To see the full list of analyst forecasts on Alphamab Oncology stock, see the HK:9966 Stock Forecast page.

Alphamab Oncology’s KN026 Trial Achieves Key Milestone
Apr 30, 2025

Alphamab Oncology announced that its pivotal Phase II/III clinical trial of KN026, a next-generation HER2-targeted therapy, has met its primary endpoint of progression-free survival (PFS) in patients with HER2-positive gastric cancer. The trial results indicate a significant improvement in PFS when KN026 is combined with chemotherapy, suggesting potential benefits over current standard treatments. This advancement could enhance Alphamab’s position in the oncology market and provide new treatment options for patients with advanced cancer.

Alphamab Oncology Unveils Promising Preclinical Results for JSKN021 and JSKN022
Apr 30, 2025

Alphamab Oncology announced the presentation of research updates on their preclinical activities for JSKN021 and JSKN022 at the 2025 AACR Annual Meeting. JSKN021, a dual payload ADC targeting EGFR/HER3, demonstrated strong tumor inhibition and stability in preclinical studies, showing potential to overcome resistance in cancer treatments. JSKN022, targeting PD-L1 and ITGB6/8, exhibited enhanced tumor suppression and stability, indicating its promise as a multi-specific ADC for cancer therapy. These advancements highlight Alphamab’s commitment to developing next-generation cancer treatments with improved efficacy and reduced toxicity.

Alphamab Oncology Grants Share Options to Boost Employee Engagement
Apr 23, 2025

Alphamab Oncology announced the grant of share options under its Post-IPO Share Option Scheme and award shares under the Restricted Share Award Scheme to eligible employees. This initiative is part of the company’s strategy to incentivize and retain talent, aligning employee interests with company performance and potentially enhancing its competitive positioning in the oncology sector.

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.Date of analysis: Jun 26, 2025