Purple Biotech (PPBT) AI Stock Analysis

• Market Cap: ₪18.58M
• Dividend Yield: N/A
• Average Volume (3M): 8.90M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.24
• Revenue Growth: N/A
• EPS Growth: 89.32%
• Country: IL
• Employees: 9
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -8.00
• Shares Outstanding: 1,858,479,500
• 10 Day Avg. Volume: 1,387,469
• 30 Day Avg. Volume: 8,902,795
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.37
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.61
• 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: 43 Neutral
• Price Target: 0.97 ▼(-19.58% Downside)
• Action: Reiterated Date: 03/15/26
• Date: Action: Reiterated 03/15/26

The score is held down primarily by weak financial performance (persistent losses and ongoing cash burn) and bearish technicals (below key moving averages with negative MACD). Very low leverage is a stabilizing factor, but valuation offers limited support given negative earnings and no dividend.

Positive Factors

Low leverage / balance sheet resilience

Very low debt materially reduces near- to medium-term solvency risk and preserves financial optionality. For a clinical-stage biotech, low leverage supports flexibility to pursue partnerships, non-dilutive deals, or targeted financings without heavy interest burden, aiding program continuity.

CAPTN-3 platform scientific progress

Concrete preclinical advances and a second named tri-specific antibody de-risk the CAPTN-3 platform structurally. Demonstrated in vivo efficacy, favorable therapeutic window and scalable manufacturability increase partner interest and the likelihood that one or more assets can progress into clinical studies and licensing discussions.

Near-term cash runway from 2025 financing

A disclosed cash runway into 2027 gives management time to initiate IM1240 Phase 1 and advance program milestones without immediate refinancing. This runway reduces short-term execution disruption risk, enabling milestone-driven value creation and more orderly partner or financing negotiations.

Negative Factors

Sustained negative cash flow

Consistent annual negative operating and free cash flow creates an enduring dependence on external financing. Even with improved burn trends, inability to self-fund R&D means recurring dilution or costly financing, which can erode shareholder value and constrain long-term strategic choices.

Widening operating losses and minimal revenue

A pre-commercial income profile with negligible revenue and sharply widening losses in 2025 signals weak operating leverage. Without material commercialization or steady partner milestone income, continued losses increase probability of equity dilution and limit capacity to scale programs internally.

Leadership transition risk

A planned CEO departure and active external search represent a durable governance and execution risk. Leadership changes can slow strategic decisions, fundraising, and trial starts; successor selection quality materially affects partner negotiations and the pace of clinical advancement over the next 6–18 months.

Purple Biotech Business Overview & Revenue Model

Company Description

Purple Biotech Ltd., a clinical-stage company, focuses on developing therapies to overcome tumor immune evasion and drug resistance for cancer patients in the United States. Its oncology pipeline includes CM24, a humanized monoclonal antibody that blocks carcinoembryonic antigen related cell adhesion molecule 1 as a combination therapy with anti-PD-1 checkpoint inhibitors, which is in Phase 2 clinical trial for the treatment of pancreatic ductal adenocarcinoma; NT219, a small molecule that targets and inhibits insulin receptor substrate 1 and 2, and signal transducer and activator of transcription, which is in Phase 1/2 clinical trials for the treatment recurrent and/or metastatic squamous cell carcinoma of the head and neck cancer or colorectal adenocarcinoma; and IM1240, a multi-valent antibody designed to activate anti-tumoral immune response against 5T4-positive tumors, which is in preclinical stage. The company has collaboration agreement with Bristol Myers Squibb Company for the Phase 2 clinical trials to evaluate the combination of CM24 with the PD-1 inhibitor nivolumab in addition to chemotherapy; and Mor Research Applications. The company was formerly known as Kitov Pharma Ltd and changed its name to Purple Biotech Ltd. in December 2020. The company is headquartered in Rehovot, Israel.

How the Company Makes Money

Purple Biotech primarily generates revenue from collaboration- and partnership-related payments rather than product sales, as it is a clinical-stage company. Its revenue model typically includes (1) upfront payments received when entering licensing or collaboration agreements for its drug candidates; (2) milestone payments tied to development, regulatory, or commercial achievements by a partner; and (3) potential royalties or profit-sharing on future sales if a partnered product reaches the market. The company may also record revenue from research and development services performed under collaboration arrangements when applicable. If it raises additional capital, that funding supports operations but is not operating revenue.

Purple Biotech Financial Statement Overview

Summary

Overall fundamentals are weak for a development-stage biotech: the income statement reflects persistent and widening losses with minimal revenue, and cash flow remains consistently negative despite some improvement in burn. The balance sheet is a relative positive due to very low leverage, but shrinking equity/assets and negative returns highlight ongoing dilution/financing risk.

Income Statement

The income statement shows a pre-commercial profile with minimal to no revenue in most years (including 2024–2025) and persistent operating losses. Losses widened sharply in 2025 (EBIT and net loss materially more negative than 2024), indicating rising cost intensity and weak operating leverage. While 2023 shows revenue, profitability remained deeply negative, reinforcing that earnings quality is currently dependent on funding rather than business scale.

Balance Sheet

The balance sheet is a relative strength: total debt is very low versus equity across the period (debt-to-equity consistently ~1% or less), which reduces solvency risk. However, equity and total assets have contracted significantly from 2020–2024 and again into 2025, consistent with ongoing losses consuming capital. Returns on equity are negative, reflecting value dilution risk if losses continue and additional capital is required.

Cash Flow

Cash flow is pressured by sustained cash burn: operating cash flow and free cash flow are negative every year shown, signaling reliance on external financing. Cash burn improved in 2024 versus 2023, and improved again in 2025 versus 2024, but free cash flow remains meaningfully negative. Overall, the trajectory is improving on spending discipline, but the company still has not demonstrated self-funding operations.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	195.80K	0.00	0.00
Gross Profit	0.00	-62.00K	-196.00	-120.00	-55.00
EBITDA	-29.72M	-7.05M	-19.88M	-21.49M	-17.52M
Net Income	-28.79M	-7.24M	-19.88K	-21.67M	-18.38M
Balance Sheet
Total Assets	17.58M	37.04M	44.30M	54.62M	70.20M
Cash, Cash Equivalents and Short-Term Investments	9.58M	8.52M	15.41M	32.11M	47.20M
Total Debt	244.05K	183.00K	351.00K	515.00K	749.00K
Total Liabilities	7.91M	4.13M	10.01M	7.52M	5.09M
Stockholders Equity	9.72M	32.86M	34.21M	46.91M	64.83M
Cash Flow
Free Cash Flow	-5.95M	-14.37M	-19.93M	-16.96M	-15.19M
Operating Cash Flow	-5.95M	-14.37M	-19.93M	-16.73M	-15.07M
Investing Cash Flow	482.78K	509.00K	13.88M	19.91M	13.41M
Financing Cash Flow	6.88M	6.77M	5.45M	1.11M	1.51M

Purple Biotech Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.20
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IL:PPBT, the sentiment is Negative. The current price of 1.2 is above the 20-day moving average (MA) of 1.00, above the 50-day MA of 1.06, and below the 200-day MA of 2.16, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 40.92 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IL:PPBT.

Purple Biotech Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CANF	54 Neutral	₪24.12M	-4,037.78	―	―	―	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
BLRX	46 Neutral	₪39.16M	-4.21	―	―	-42.69%	88.04%
PPBT	43 Neutral	₪18.58M	-0.13	―	―	―	89.32%
BOLT	42 Neutral	₪30.64M	-0.94	―	―	-46.97%	-127.67%