LakeShore Biopharma (LSBCF) AI Stock Analysis

• Market Cap: $3.30M
• Dividend Yield: N/A
• Average Volume (3M): 5.12K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.74
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 758
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): N/A
• Shares Outstanding: 41,212,692
• 10 Day Avg. Volume: 4,144
• 30 Day Avg. Volume: 5,120
• PEG Ratio: 0.25
• Price to Book (P/B): 3.80
• Price to Sales (P/S): 3.09
• P/FCF Ratio: -13.69
• Enterprise Value/Market Cap: 124.05
• Enterprise Value/Revenue: 0.71
• Enterprise Value/Gross Profit: 1.05
• Enterprise Value/Ebitda: -1.30
• 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: 40 Underperform
• Price Target: $0.08 ▼(-90.59% Downside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

The score is driven primarily by weak financial performance (ongoing losses and negative operating/free cash flow) and very bearish technicals (price well below all major moving averages and negative MACD). Valuation is scored neutral due to missing P/E and dividend yield data.

Positive Factors

High gross margins (>75%)

Sustained gross margins above 75% point to strong underlying product economics and scalable unit profitability. That margin buffer supports continued R&D investment or partner-funded programs and lowers the revenue needed to cover fixed costs, improving long-term margin sustainability if commercialization succeeds.

Diversified revenue model (grants, collaborations, milestones)

Multiple funding sources (grants, collaborations, licensing deals, milestone payments, royalties) reduce reliance on a single financing channel. Collaborations can provide non-dilutive capital and external validation, creating recurring funding opportunities that support clinical progress and lower execution risk over the medium term.

Improving leverage management

An improving debt-to-equity trend suggests management is addressing capital structure and reducing default risk. Better leverage management enhances financial flexibility, lowers interest burden prospects, and improves the company's ability to access financing or negotiate partnership terms during the next funding cycles.

Negative Factors

Negative operating and free cash flows

Persistent negative operating and free cash flows erode runway and force reliance on external financing, dilutive equity raises, or asset sales. Even with high gross margins, inability to convert operations into positive cash flow constrains R&D, commercialization investments, and long-term self-sufficiency.

Large disputed arbitration awards and fraud probe

Significant arbitration awards alongside a criminal fraud investigation create material legal and governance risk. Potential liabilities could materially weaken the balance sheet, divert management focus, damage partner confidence, and require cash outlays or contingent liability provisions that impair strategic options.

Going-private transaction uncertainty

The buyer's claim of a material adverse effect and the postponed EGM introduce structural uncertainty about ownership, access to committed capital, and governance. If the deal fails or is renegotiated, the company may face limited liquidity, disrupted strategy execution, and prolonged distraction from core operations.

LakeShore Biopharma Business Overview & Revenue Model

Company Description

LakeShore Biopharma Co., Ltd, a biopharmaceutical company, engages in discovering, developing, manufacturing, and commercializing of vaccines and therapeutic biologics for infectious diseases and cancer. The company develops a proprietary PIKA immunomodulating technology platform and a series of product targeting PIKA rabies vaccine, PIKA recombinant COVID-19 vaccine, and PIKA YS-ON-001. It operates in China, the United States, Singapore, the United Arab Emirates, and the Philippines. The company was formerly known as YS Biopharma Co., Ltd. and changed its name to LakeShore Biopharma Co., Ltd in May 2024. LakeShore Biopharma Co., Ltd was founded in 2002 and is based in Beijing, China.

How the Company Makes Money

LakeShore Biopharma generates revenue through multiple streams, primarily from the development and commercialization of its drug candidates. The company's revenue model includes income from research grants, collaborations with larger pharmaceutical companies for co-development and licensing agreements, and milestone payments tied to the progress of clinical trials and regulatory approvals. Additionally, LakeShore may earn royalties on sales of its products once they reach the market. Strategic partnerships with research institutions and other biotech firms further enhance its revenue potential by providing funding and resources for ongoing research and development activities.

LakeShore Biopharma Financial Statement Overview

Summary

Strong gross margins (above 75%) indicate good product-level profitability, but persistent operating losses (negative EBIT and net margins) and a weak cash profile (negative operating and free cash flow) materially weaken financial strength. Balance sheet leverage has improved but remains a risk alongside negative ROE.

Income Statement

LakeShore Biopharma shows a consistent gross profit margin above 75%, indicating strong product profitability. However, the company faces challenges with negative net profit margins and EBIT margins, reflecting ongoing losses. Revenue growth is positive, but the company needs to address its high operating losses to improve overall profitability.

Balance Sheet

The company's debt-to-equity ratio has improved over time, indicating better leverage management, yet it remains relatively high. The negative return on equity highlights ongoing profitability challenges. The equity ratio suggests a moderate reliance on equity financing, but the company needs to enhance its asset utilization and profitability.

Cash Flow

LakeShore Biopharma's cash flow situation is concerning, with negative operating and free cash flows. The free cash flow to net income ratio is positive, indicating some efficiency in converting net income to cash, but the overall negative cash flow growth and coverage ratios highlight liquidity challenges.

Breakdown	TTM	Mar 2025	Mar 2024	Jun 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	577.33M	614.96M	573.42M	687.20M	502.95M	257.02M
Gross Profit	389.12M	507.19M	455.73M	533.84M	381.49M	197.36M
EBITDA	-314.29M	-48.54M	-368.66M	-76.80M	-67.20M	-116.78M
Net Income	-433.70M	-99.98M	-433.46M	-145.48M	-236.67M	-191.83M
Balance Sheet
Total Assets	1.51B	1.37B	1.51B	1.72B	201.03M	91.37K
Cash, Cash Equivalents and Short-Term Investments	246.35M	28.08M	246.35M	370.11M	271.07M	390.46M
Total Debt	424.46M	414.40M	424.46M	498.63M	380.59M	18.70M
Total Liabilities	927.82M	867.91M	927.82M	991.30M	20.35M	70.01K
Stockholders Equity	585.21M	499.75M	585.21M	728.45M	671.25M	776.60M
Cash Flow
Free Cash Flow	0.00	-138.84M	-339.48M	-239.52M	-299.55M	-351.49M
Operating Cash Flow	0.00	-120.98M	-295.23M	-182.47M	-613.23K	-246.61M
Investing Cash Flow	0.00	-17.01M	-44.25M	-56.98M	-298.92M	-104.24M
Financing Cash Flow	0.00	-3.58M	205.26M	317.45M	364.56M	739.26M

LakeShore Biopharma Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.85
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LSBCF, the sentiment is Negative. The current price of 0.85 is above the 20-day moving average (MA) of 0.44, above the 50-day MA of 0.68, and above the 200-day MA of 0.84, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 2.66 is Positive, neither overbought nor oversold. The STOCH value of -0.38 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LSBCF.

LakeShore Biopharma Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PYPD	56 Neutral	$67.56M	-1.88	-390.53%	―	―	61.23%
KZR	52 Neutral	$49.65M	-0.80	-56.86%	―	―	35.80%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CASI	46 Neutral	$12.39M	-0.25	―	―	26.20%	-42.26%
XCUR	44 Neutral	$22.88M	-2.39	-217.87%	―	-100.00%	33.44%
RANI	41 Neutral	$159.19M	-1.66	―	―	―	25.08%
LSBCF	40 Underperform	$3.30M	―	―	―	―	―

LakeShore Biopharma Corporate Events

LakeShore Biopharma’s Buyer Group Challenges Merger After RMB576.5 Million Arbitral Hit, Forcing EGM Delay

On February 6, 2026, LakeShore Biopharma disclosed that the buyer group behind its previously announced going-private deal at $0.90 per share has notified the company that recent arbitral awards totaling about RMB576.5 million in financial liabilities may constitute a “Company Material Adverse Effect” under the November 4, 2025 merger agreement. Citing this alleged material adverse effect, the buyer group asserted it has the right not to consummate the merger and said it would not attend or vote at the extraordinary general meeting (EGM) that had been scheduled for February 12, 2026 to approve the transaction, while signaling a willingness to discuss amended terms. In response, LakeShore Biopharma has postponed the EGM, will disregard all previously submitted proxy cards, and plans to review the buyer group’s claims and its strategic options, introducing new uncertainty for shareholders around the timing, pricing and even completion of the going‑private transaction.

The most recent analyst rating on (LSBCF) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on LakeShore Biopharma stock, see the LSBCF Stock Forecast page.

LakeShore Biopharma Faces Disputed RMB500 Million Arbitration Awards Amid Fraud Investigation

On January 21 and 22, 2026, LakeShore Biopharma reported that arbitral awards issued by the Kaifeng Arbitration Commission require its affiliated entities, Liaoning Yisheng Biopharma and Beijing Yisheng Biotechnology, to pay counterparties a combined principal of roughly RMB504.5 million plus more than RMB72 million in interest and fees. The company disputes both the claims and the validity of the arbitration decisions, pledging to vigorously challenge the awards in the relevant tribunals; it also highlighted that, on December 12, 2024, the Shenyang Municipal Public Security Bureau opened a “fraudulent litigation” investigation into the underlying actions and that former chairman Yi Zhang, whom the company believes fabricated the cases, has been named a criminal suspect, underscoring significant legal uncertainty with potentially material financial and governance implications for stakeholders.

The most recent analyst rating on (LSBCF) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on LakeShore Biopharma stock, see the LSBCF Stock Forecast page.

LakeShore Biopharma Sets February 12 EGM to Approve Going-Private Merger

On January 20, 2026, LakeShore Biopharma announced it has called an extraordinary general meeting of shareholders for February 12, 2026 in Beijing to vote on authorizing and approving its previously announced merger agreement with Oceanpine Skyline Inc. and its subsidiary, Oceanpine Merger Sub Inc. Under the proposed deal, Oceanpine Merger Sub would merge into LakeShore Biopharma, which would survive as a wholly owned subsidiary of Oceanpine Skyline and transition to a privately held company, with its ordinary shares and warrants delisted from OTC markets and deregistered under the U.S. Securities Exchange Act. The board of directors, acting on the unanimous recommendation of a special committee of independent directors, has approved the merger documents and is urging shareholders of record as of January 16, 2026 to vote in favor of the transaction, a step that could significantly reshape the company’s capital-market profile and governance structure by taking it out of the public equity markets.

The most recent analyst rating on (LSBCF) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on LakeShore Biopharma stock, see the LSBCF Stock Forecast page.