Noile-Immune Biotech Inc. (4893) AI Stock Analysis

• Market Cap: ¥6.49B
• Dividend Yield: N/A
• Average Volume (3M): 85.17K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.44
• Revenue Growth: -12.01%
• EPS Growth: 26.66%
• Country: JP
• Employees: 25
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -4.46
• Shares Outstanding: 43,276,764
• 10 Day Avg. Volume: 110,290
• 30 Day Avg. Volume: 85,173
• PEG Ratio: 0.42
• Price to Book (P/B): 1.56
• Price to Sales (P/S): 970.16
• P/FCF Ratio: -8.29
• 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: 45 Neutral
• Price Target: ¥153.00 ▲(14.18% Upside)

The score is held down primarily by weak financial performance—deep losses and worsening cash burn despite a no-debt balance sheet. Technicals provide some near-term support (above 20/50-day averages), but the longer-term trend remains weak (below 100/200-day), and valuation is constrained by negative earnings and no stated dividend yield.

Positive Factors

Conservative balance sheet (zero debt)

Zero reported debt materially reduces insolvency and interest-service risk for a cash-burning biotech. This structural conservatism preserves strategic optionality and negotiating leverage when raising capital, extending runway and lowering refinancing pressure over the medium term.

Very high gross margins on revenue

Extremely high gross margins on recorded revenue indicate strong unit economics once sales scale. That structural margin profile supports long-term operating leverage and attractive profitability potential if R&D converts to commercial products and fixed costs are absorbed.

Focus on engineered cell immunotherapies

Proprietary cell-engineering focus positions the company within structural growth of immunotherapies and cell therapeutics. A differentiated technology platform can create sustainable competitive advantages and multi-product optionality if clinical progress and IP protection hold.

Negative Factors

Persistent negative cash flow and rising cash burn

Consistent operating and free cash flow deficits, with accelerating 2024 burn, create tangible runway and financing risk. Over 2–6 months this structural cash gap necessitates external capital, increasing dilution risk and constraining long-term R&D and development timelines.

Deteriorating revenue and widening losses

A declining and volatile revenue base alongside widening operating losses signals weak commercial traction and unsustainable expense base. Structurally, this limits ability to self-fund development, undermines scalable growth prospects, and increases dependency on dilutive financing.

Declining equity and negative returns on equity

Falling shareholders' equity and persistently negative ROE indicate erosion of owner value from recurring losses. This structural deterioration reduces financial resilience, makes future fundraising more dilutive, and signals potential long-term governance or capital allocation challenges.

Noile-Immune Biotech Inc. Business Overview & Revenue Model

Company Description

Noile-Immune Biotech Inc. researches and develops CAR-T cells for cancer immunotherapies. The company was incorporated in 2015 and is headquartered in Minato, Japan.

How the Company Makes Money

Noile-Immune Biotech Inc. generates revenue through the development and commercialization of its proprietary immunotherapy products. The company's primary revenue streams include licensing agreements, partnerships with pharmaceutical companies, and milestone payments related to the progress of its drug candidates through clinical trials. Additionally, Noile-Immune Biotech may receive royalties from the commercialization of its licensed technologies and products. Strategic collaborations with other biotech firms and research institutions also play a significant role in advancing its research and development efforts, potentially leading to additional revenue opportunities.

Noile-Immune Biotech Inc. Financial Statement Overview

Summary

Despite a debt-free balance sheet, financial performance is weak: revenue is small and volatile with deterioration in 2024, losses remain very large and worsened, and operating/free cash flow are consistently negative with an accelerated 2024 cash burn—raising funding and runway risk.

Income Statement

Revenue is highly volatile and has deteriorated sharply in 2024 (down ~8% year over year) after a stronger 2022–2023 period, suggesting limited commercial traction. While gross profit margins are extremely high (near ~97–99% in most years), the company is deeply loss-making with very large operating and net losses, and profitability has worsened meaningfully in 2024 versus 2023. Overall, the income statement reflects strong unit economics on recorded revenue but an unsustainably high expense base and weak earnings quality typical of an early-stage biotech.

Balance Sheet

The balance sheet is conservatively structured with zero debt across all reported years, which reduces solvency risk and financial fragility. However, equity has declined from 2023 to 2024, and returns on equity are consistently negative, indicating ongoing value dilution from recurring losses. Overall, financial leverage is a clear strength, but the trajectory of equity and persistent negative profitability temper the quality of the balance sheet.

Cash Flow

Cash generation is weak, with operating cash flow and free cash flow negative every year, including a very large cash burn in 2024 (worse than 2023 and far worse than 2022). Cash burn shows meaningful year-to-year volatility, which raises financing and runway risk if losses persist. The business is not currently self-funding and likely depends on external capital to sustain operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	9.14M	7.59M	316.82M	625.78M	100.73M	97.28M
Gross Profit	9.14M	7.39M	314.56M	618.71M	77.83M	94.31M
EBITDA	-519.02M	-1.07B	-775.39M	-106.34M	-767.51M	-591.67M
Net Income	-692.16M	-964.46M	-1.13B	-386.62M	-795.03M	-636.65M
Balance Sheet
Total Assets	4.38B	4.80B	5.78B	4.64B	4.27B	2.67B
Cash, Cash Equivalents and Short-Term Investments	4.31B	4.67B	5.56B	4.52B	4.14B	2.55B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	68.07M	74.67M	91.49M	340.42M	85.72M	75.88M
Stockholders Equity	4.31B	4.73B	5.69B	4.30B	4.19B	2.60B
Cash Flow
Free Cash Flow	0.00	-887.81M	-873.08M	-107.18M	-777.14M	-300.64M
Operating Cash Flow	0.00	-887.81M	-873.08M	-107.18M	-777.14M	-300.64M
Investing Cash Flow	0.00	557.00K	-5.32M	0.00	-4.03M	0.00
Financing Cash Flow	0.00	2.50M	1.91B	487.62M	2.37B	996.35M

Noile-Immune Biotech Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 134.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4893, the sentiment is Positive. The current price of 134 is below the 20-day moving average (MA) of 146.75, below the 50-day MA of 146.36, and below the 200-day MA of 162.59, indicating a neutral trend. The MACD of 1.00 indicates Negative momentum. The RSI at 55.65 is Neutral, neither overbought nor oversold. The STOCH value of 60.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4893.

Noile-Immune Biotech Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
4588	50 Neutral	¥49.97B	-20.76	―	―	-9.04%	13.09%
4893	45 Neutral	¥6.49B	-8.30	―	―	-12.01%	26.66%
3750	45 Neutral	¥7.79B	-4.23	―	―	-93.79%	-1332.86%
4884	42 Neutral	¥2.79B	-2.84	―	―	-9.77%	-13.86%
4564	42 Neutral	¥7.53B	-6.95	-63.25%	―	99.87%	40.60%
4598	39 Underperform	¥2.80B	-1.42	―	―	―	25.25%