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

Alphamab Oncology (9966) AI Stock Analysis

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HK:9966

Alphamab Oncology

(9966)

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Neutral 53 (OpenAI - 4o)
Rating:53Neutral
Price Target:
HK$11.00
▲(6.59% Upside)
Alphamab Oncology's overall stock score is primarily influenced by strong revenue growth and improved profitability, offset by significant concerns in cash flow generation and a high P/E ratio indicating potential overvaluation. Technical analysis provides mixed signals, with bearish momentum and potential overbought conditions.
Positive Factors
Revenue Growth
Strong revenue growth indicates successful product adoption and market expansion, enhancing long-term business prospects and competitive positioning.
Profitability Turnaround
Turning a positive net profit margin shows improved cost management and operational efficiency, supporting sustainable profitability.
Financial Stability
Strong equity and low leverage indicate financial stability, providing a solid foundation for future growth and resilience against market fluctuations.
Negative Factors
Cash Flow Challenges
Lack of cash flow generation may hinder operational flexibility and investment capacity, posing risks to long-term financial health.
Moderate Profitability
Moderate ROE suggests limited profitability on shareholder investment, potentially affecting investor confidence and capital raising ability.
Operational Efficiency
While profitability has improved, further enhancements in operational efficiency are needed to maximize earnings potential and competitiveness.

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

Alphamab Oncology Business Overview & Revenue Model

Company DescriptionAlphamab Oncology (9966) is a biopharmaceutical company focused on the development and commercialization of innovative antibody-based therapies for the treatment of cancer. The company operates primarily in the biotechnology sector and specializes in the discovery and development of novel therapeutic solutions that target specific cancer pathways. Its core products include a range of monoclonal antibodies and bi-specific antibodies designed to enhance the efficacy of cancer treatment while minimizing side effects for patients.
How the Company Makes MoneyAlphamab Oncology generates revenue primarily through the development and sale of its therapeutic products. The company’s revenue model includes direct sales of its approved therapies to hospitals and clinics, as well as licensing agreements with larger pharmaceutical companies for the development and commercialization of its drug candidates. Key revenue streams arise from milestone payments and royalties associated with its partnerships. Additionally, Alphamab may receive funding through strategic collaborations and research grants aimed at advancing its pipeline of cancer therapies. Significant partnerships with other biotech firms or pharmaceutical companies further enhance its earnings potential by providing access to broader markets and shared research costs.

Alphamab Oncology Financial Statement Overview

Summary
Alphamab Oncology shows strong revenue growth and improved profitability, with a robust gross profit margin and positive net profit margin. However, cash flow generation is a significant concern, as operating and free cash flows are zero, indicating challenges in converting profits into cash.
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.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue785.96M640.08M218.77M166.84M146.02M0.00
Gross Profit725.19M579.77M163.54M122.64M142.99M0.00
EBITDA243.26M156.79M-129.30M-391.83M-358.13M-390.47M
Net Income232.81M166.34M-210.59M-325.72M-412.42M-427.77M
Balance Sheet
Total Assets2.36B2.24B2.14B2.12B2.71B2.64B
Cash, Cash Equivalents and Short-Term Investments1.64B1.57B1.41B1.35B1.99B2.06B
Total Debt273.48M185.96M257.08M345.39M637.27M222.81M
Total Liabilities503.95M409.87M465.00M559.86M834.80M366.44M
Stockholders Equity1.85B1.83B1.67B1.56B1.87B2.27B
Cash Flow
Free Cash Flow217.62M190.56M-239.02M-429.96M-478.72M-438.00M
Operating Cash Flow256.48M212.34M-202.84M-300.31M-320.60M-347.18M
Investing Cash Flow-496.65M-92.93M-18.11M850.76M574.26M-1.52B
Financing Cash Flow-75.05M-98.96M218.07M-310.90M363.90M186.58M

Alphamab Oncology Technical Analysis

Technical Analysis Sentiment
Negative
Last Price10.32
Price Trends
50DMA
11.23
Negative
100DMA
10.97
Negative
200DMA
9.08
Positive
Market Momentum
MACD
-0.11
Negative
RSI
45.15
Neutral
STOCH
32.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9966, the sentiment is Negative. The current price of 10.32 is below the 20-day moving average (MA) of 10.40, below the 50-day MA of 11.23, and above the 200-day MA of 9.08, indicating a neutral trend. The MACD of -0.11 indicates Negative momentum. The RSI at 45.15 is Neutral, neither overbought nor oversold. The STOCH value of 32.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9966.

Alphamab Oncology Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
57
Neutral
HK$9.21B48.376.73%23.37%
54
Neutral
HK$12.95B-45.47-12.74%-76.58%-4.90%
53
Neutral
HK$10.05B39.3413.34%206.58%
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
51
Neutral
HK$11.47B17.5835.80%59.70%239.97%
45
Neutral
HK$2.05B-10.37-55.33%-100.00%30.68%
40
Underperform
HK$9.81B-46.89-21.42%240.05%-140.09%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:9966
Alphamab Oncology
10.23
6.63
184.17%
HK:1672
Ascletis Pharma, Inc.
12.96
10.12
356.34%
HK:2142
HBM Holdings Ltd.
12.99
11.77
964.75%
HK:2157
Lepu Biopharma Co. Ltd. Class H
5.28
2.00
60.98%
HK:2256
Abbisko Cayman Limited
13.54
8.91
192.44%
HK:3681
SinoMab Bioscience Ltd.
1.49
0.44
41.90%

Alphamab Oncology Corporate Events

Alphamab Oncology Initiates HK$30 Million Share Repurchase Plan
Nov 7, 2025

Alphamab Oncology announced a decision to repurchase up to HK$30 million worth of its own shares from the open market, as authorized by a mandate approved at their annual general meeting. This move is intended to reflect the company’s confidence in its business prospects and to potentially enhance shareholder value, while being financed through existing cash reserves. The repurchase plan is subject to market conditions and regulatory compliance, with no guarantee on the timing or quantity of shares to be repurchased.

Alphamab Oncology’s JSKN003 Gains U.S. FDA Fast Track Designation
Oct 27, 2025

Alphamab Oncology announced that its drug JSKN003 has received Fast Track Designation from the U.S. FDA for treating platinum-resistant recurrent epithelial ovarian cancer and related conditions. This designation highlights the promising clinical data and potential of JSKN003, which has also received multiple designations for other cancers, indicating strong international regulatory confidence. The development of JSKN003 addresses a significant unmet need in ovarian cancer treatment, offering improved efficacy over existing therapies and potentially expediting its clinical development and regulatory review.

Alphamab Oncology’s JSKN003 Gains U.S. FDA Fast Track Designation
Oct 27, 2025

Alphamab Oncology announced that its drug JSKN003 has received Fast Track Designation from the U.S. FDA for treating platinum-resistant recurrent epithelial ovarian cancer and related conditions. This designation highlights the promising clinical data and potential of JSKN003, which has also received multiple designations for other cancers, indicating strong international regulatory confidence. The development of JSKN003 addresses a significant unmet need in ovarian cancer treatment, offering improved efficacy over existing therapies and potentially expediting its clinical development and regulatory review.

Alphamab Oncology Grants Award Shares to Key Personnel
Oct 24, 2025

Alphamab Oncology has announced the grant of 1,990,176 award shares under its Restricted Share Award Scheme to three eligible participants, including two executive directors and an employee. This move is part of the company’s strategy to reward and incentivize key personnel, aligning with its remuneration policy and long-term growth objectives. The shares will vest in batches over a period of up to ten years, reflecting the company’s commitment to retaining talent and enhancing its competitive positioning in the oncology sector.

Alphamab Oncology’s JSKN003 Receives Breakthrough Therapy Designation for HER2+ CRC
Oct 20, 2025

Alphamab Oncology announced that its drug JSKN003, co-developed with Shanghai JMT-Bio Technology, has been granted breakthrough therapy designation by the CDE for treating HER2+ advanced colorectal cancer (CRC) in patients who have failed prior treatments. This designation highlights the significant unmet clinical need in China, where CRC is highly prevalent, and no HER2-targeted therapies are currently approved. Preliminary results from clinical trials show JSKN003’s notable efficacy and favorable safety profile, potentially positioning it as a promising treatment option for HER2-overexpressing CRC patients.

Alphamab Oncology’s JSKN003 Shows Promising Results in Cancer Treatment Trials
Oct 20, 2025

Alphamab Oncology has announced promising research updates for its drug JSKN003, presented at the ESMO Congress 2025. The drug showed significant efficacy and a manageable safety profile in treating patients with primary platinum-refractory ovarian cancer (OC) and HER2+ metastatic colorectal cancer (CRC). The results indicate a potential new treatment option for these patient groups, which have limited existing therapies. The company is also progressing with a phase III study comparing JSKN003 to standard chemotherapy in patients with platinum-resistant ovarian cancer (PROC), which could further establish its position in the oncology market.

Alphamab Oncology Reports Promising Phase III Trial Results for KN026
Oct 17, 2025

Alphamab Oncology announced promising interim results from a Phase III clinical trial of KN026, a next-generation HER2-targeted therapy, in combination with chemotherapy for HER2+ gastric cancer patients. The trial demonstrated significant improvements in progression-free survival and overall survival compared to chemotherapy alone, with a manageable safety profile, positioning KN026 as a potential new treatment option for patients who have progressed on trastuzumab-based therapy.

Alphamab Oncology Provides Additional Details on 2024 Annual Report
Oct 13, 2025

Alphamab Oncology has released additional information regarding its 2024 Annual Report, focusing on the utilization of treasury shares, proceeds from its Global Offering and Top-up Placing, and its Post-IPO Share Award Scheme. The company has yet to decide on the use of its treasury shares, while significant proceeds remain allocated for the development and commercialization of its key drug candidates KN046 and KN026. Additionally, funds from the Top-up Placing are primarily directed towards clinical trials and development of other drug candidates. The announcement clarifies that the Post-IPO Share Award Scheme does not require further disclosure under the Listing Rules, and the new information does not alter the previously disclosed details in the annual report.

Alphamab Oncology Announces HK$20 Million Share Repurchase Plan
Oct 13, 2025

Alphamab Oncology has announced a voluntary on-market share repurchase plan, with the board resolving to buy back shares worth up to HK$20 million. The decision reflects the company’s confidence in its business prospects and aims to enhance shareholder value, though the execution of the repurchase will depend on market conditions.

Alphamab Oncology Addresses Non-Compliance in Director’s Share Dealings
Sep 19, 2025

Alphamab Oncology announced a non-compliance incident involving Mr. Cho, a non-executive director, whose spouse sold shares during a black-out period without prior notification. The company is taking steps to prevent future incidents by enhancing compliance training and awareness among its directors and staff.

Alphamab Oncology’s KN026 Gains NMPA Acceptance for HER2+ Gastric Cancer Treatment
Sep 11, 2025

Alphamab Oncology announced that its new drug application for KN026, a bispecific antibody for HER2+ gastric cancer, has been accepted by China’s National Medical Products Administration. This marks a significant advancement as KN026 is the first anti-HER2 therapy in China to show positive results for second-line treatment of gastric cancer, potentially enhancing the company’s market position and offering new hope for patients who have exhausted other treatment options.

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: Nov 28, 2025