I-MAB (IMAB) AI Stock Analysis

• Market Cap: $281.93M
• Dividend Yield: N/A
• Average Volume (3M): 1.92M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.71
• Revenue Growth: -100.00%
• EPS Growth: 72.53%
• Country: US
• Employees: 32
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.03
• Shares Outstanding: 81,660,350
• 10 Day Avg. Volume: 1,290,918
• 30 Day Avg. Volume: 1,917,838
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.13
• Enterprise Value/Revenue: 8.91
• Enterprise Value/Gross Profit: 8.91
• Enterprise Value/Ebitda: -0.12
• 1Y Price Target: $7.00
• Price Target Upside: 101.15% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 45 Neutral
• Price Target: ―

The overall stock score of 45 reflects I-MAB's substantial financial challenges, particularly in terms of profitability and cash flow generation, which heavily impact its financial performance. Despite a modest technical uptrend, valuation metrics point to significant risks, with ongoing losses and a negative P/E ratio limiting its appeal. The absence of recent earnings call data or notable corporate events further solidifies the overall cautious outlook.

Positive Factors

Strong Cash Position

A strong cash position provides I-MAB with the financial flexibility to fund operations and strategic initiatives through 2028, supporting long-term growth.

Clinical Progress

Advancing clinical trials on schedule enhances I-MAB's pipeline credibility and potential market impact, reinforcing its position in immuno-oncology.

Leadership Strengthening

Strengthening leadership with experienced directors and forming an R&D Committee can drive strategic focus and innovation, boosting long-term prospects.

Negative Factors

Profitability Challenges

Persistent profitability issues indicate structural financial weaknesses, potentially limiting reinvestment capacity and long-term sustainability.

Negative Cash Flows

Negative cash flows highlight operational inefficiencies and could constrain future growth investments, impacting long-term financial health.

Revenue Volatility

Erratic revenue trends suggest market and operational instability, which can undermine investor confidence and hinder strategic planning.

I-MAB Business Overview & Revenue Model

Company Description

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics to treat cancer and autoimmune disorders. It is developing Felzartamab, a CD38 antibody that is in Phase 1b/2a for patients with membranous nephropathy; Eftansomatropin alfa, a long-acting human growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; TJ107, a recombinant human IL-7, which is in Phase 2 for cancer treatment-related lymphopenia and cancer immunotherapy; and Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 2 clinical trial. Its product candidates also includes Enoblituzumab, a humanized B7-H3 antibody that is in Phase 2 to treat head and neck cancer, and other oncology diseases; Efineptakin, a long-acting recombinant human IL-7, which is in Phase 2 clinical trials to treat lymphopenia and cancer immunotherapy; TJ210, a monoclonal antibody against human C5aR1 that is in Phase 1 for the treatment of cancers and autoimmune; Plonmarlimab, a GM-CSF monoclonal antibody for inflammation and CRS-related therapies; Uliledlimab, a CD73 antibody, which is in Phase 2 clinical trials for treating solid tumors and oncology; TJ-L14B, a PD-L1-based tumor-dependent T-cell engager for solid cancers; and TJ-CD4B, a tumor-dependent T cell engager for gastric and other cancers, as well as TJ-L1IF, a PD-L1/IFN-a antibody-cytokine fusion protein for solid tumors and TJ-C64B, a tumor-dependent T-cell engager for ovarian and other cancers. I-Mab has strategic collaboration agreement with AbbVie Ireland Unlimited Company; Sinopharm Group Co. Ltd.; PT Kalbe Genexine Biologics; and Roche Diagnostics. The company was founded in 2014 and is headquartered in Shanghai, the People's Republic of China.

How the Company Makes Money

I-MAB primarily generates revenue through partnerships and collaborations with other pharmaceutical companies for the development and commercialization of its drug candidates. The company may receive upfront payments, milestone payments, and royalties from these partnerships as its drug candidates progress through clinical trials and reach the market. Additionally, I-MAB might gain revenue from licensing its proprietary technologies and intellectual property to other entities. Significant partnerships with global pharmaceutical companies facilitate the advancement of its pipeline, contributing to its earnings potential.

I-MAB Financial Statement Overview

Summary

I-MAB faces substantial financial challenges, particularly in terms of profitability and cash flow generation. Although the company benefits from a strong liquidity position and low leverage, its ability to generate positive earnings and cash flows remains a concern. The volatility in revenue and consistent losses highlight the need for strategic adjustments to improve financial performance.

Income Statement

The company's income statement indicates significant challenges, with substantial negative net income and EBIT margins over recent years. Although there was a positive revenue figure in 2023, the revenue growth has been erratic, with a substantial decline from 2020 to 2022 followed by a modest recovery. Gross profit margins have been inconsistent, which, coupled with negative net profit and EBIT margins, underscores profitability issues.

Balance Sheet

The balance sheet shows a strong equity base relative to liabilities, with a debt-to-equity ratio remaining low due to minimal debt levels. However, the equity ratio has been declining, indicating diminishing equity relative to total assets. The company maintains a significant cash position, which is a positive sign of liquidity.

Cash Flow

Cash flow analysis reveals persistent negative free cash flows, indicating challenges in generating sufficient cash from operations. The absence of operating cash flow data for 2023 makes it difficult to assess the recent cash generation ability. Historical trends show negative operating cash flow, impacting the overall cash flow position negatively.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.99M	0.00	27.64M	-221.56M	88.03M	1.54B
Gross Profit	3.99M	0.00	27.64M	-248.80M	41.59M	1.54B
EBITDA	-303.56M	-373.45M	-1.21B	-1.94B	-2.06B	168.31M
Net Income	-341.81M	-162.26M	-1.47B	-2.51B	-2.33B	470.92M
Balance Sheet
Total Assets	232.68M	212.68M	2.61B	4.07B	5.63B	6.33B
Cash, Cash Equivalents and Short-Term Investments	184.39M	173.40M	2.29B	3.45B	4.28B	4.79B
Total Debt	3.78M	3.88M	18.89M	74.99M	112.45M	13.60M
Total Liabilities	14.80M	11.52M	894.81M	1.07B	1.04B	706.65M
Stockholders Equity	217.88M	201.16M	1.72B	3.01B	4.59B	5.63B
Cash Flow
Free Cash Flow	0.00	-52.72M	-72.86M	-1.15B	-1.00B	425.55M
Operating Cash Flow	0.00	-52.67M	-72.70M	-1.10B	-973.09M	433.56M
Investing Cash Flow	0.00	-136.01M	102.52M	458.38M	-727.21M	-201.90M
Financing Cash Flow	0.00	-335.00K	7.57M	42.36M	593.92M	3.44B

I-MAB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 3.48
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMAB, the sentiment is Neutral. The current price of 3.48 is below the 20-day moving average (MA) of 3.99, below the 50-day MA of 3.68, and above the 200-day MA of 1.83, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 42.31 is Neutral, neither overbought nor oversold. The STOCH value of 8.55 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IMAB.

I-MAB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GMAB	82 Outperform	17.76B	14.40	22.13%	―	23.25%	64.46%
ONC	55 Neutral	40.83B	-189.82	-4.71%	―	47.14%	66.69%
ZLAB	52 Neutral	3.49B	-15.45	-26.84%	―	32.38%	33.47%
IMAB	45 Neutral	$281.93M	―	-22.37%	―	-100.00%	72.53%
FATE	44 Neutral	115.33M	-0.69	-58.44%	―	-31.23%	14.92%
AFMDQ	42 Neutral	1.52K	>-0.01	―	―	-95.23%	42.16%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%