NovaBridge Biosciences (NBP) AI Stock Analysis

• Market Cap: $421.97M
• Dividend Yield: N/A
• Average Volume (3M): 729.81K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.23
• Revenue Growth: -100.00%
• EPS Growth: 72.45%
• Country: US
• Employees: 32
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.03
• Shares Outstanding: 115,119,490
• 10 Day Avg. Volume: 1,272,000
• 30 Day Avg. Volume: 729,809
• PEG Ratio: <0.01
• Price to Book (P/B): 0.34
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.31
• Enterprise Value/Market Cap: 0.37
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -78.41
• Enterprise Value/Ebitda: -1.81
• 1Y Price Target: $8.00
• Price Target Upside: 114.48% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -0.65
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $3.50 ▼(-6.17% Downside)

The score is primarily held back by deteriorated financial performance (no 2024 revenue, persistent losses, and ongoing cash burn) despite low leverage. Technicals are mildly bearish with price below key moving averages and a slightly negative MACD, while valuation is largely neutral because negative earnings make the P/E less informative and no dividend support is shown.

Positive Factors

Advancing late-stage asset: givastomig

Robust Phase 1b efficacy and manageable safety prompted a global Phase 2, materially derisking a lead asset. Progress toward a randomized trial strengthens commercial prospects, enhances partnering and licensing optionality, and shifts value drivers from preclinical risk to clinical execution.

Pipeline depth: ragistomig clinical progress

Encouraging ragistomig data and a more tolerable Q6W regimen broaden development pathways and combo opportunities. Multiple advancing bispecifics reduce binary single‑asset risk, improve partnership appeal, and support a platform strategy that can sustain long‑term R&D value creation.

Low leverage

A low-debt capital structure preserves financial flexibility during prolonged clinical development, lowering default risk and maintaining capacity to access capital or structure deals. This resilience is important while the company converts clinical progress into revenue or partnerships.

Negative Factors

Zero 2024 revenue

A complete absence of 2024 revenue eliminates internal funding sources for trials and operations, increasing reliance on external financing or partnerships. This weakens self‑sufficiency, creates dilution and execution risk, and lengthens the timeline to sustainable commercialization.

Persistent negative cash flow

Consistent operating and free cash flow deficits indicate ongoing cash burn that will require capital raises or milestone deals. Repeated funding needs can dilute shareholders, constrain long‑term R&D planning, and divert management attention from science to financing.

Chronic losses and historical equity weakness

Sustained net losses and a prior episode of negative equity highlight financial fragility. This history reduces negotiating leverage with partners and increases execution risk if clinical setbacks occur, making recovery contingent on clinical success and reliable financing sources.

NovaBridge Biosciences Business Overview & Revenue Model

Company Description

NovaBridge Biosciences, a biotech company, focuses on the development of immuno-oncology agents for the treatment of cancer in the United States. The company is developing givastomig, a bispecific antibody, which is in Phase 1b clinical trial for the treatment of gastric cancer; uliledlimab, a CD73 neutralizing antibody; and ragistomig, a bispecific antibody, which is in phase 1 clinical trial for the treatment of solid tumors. It has a strategic licensing agreement with Ferring International Center SA to research, develop, make, have made, import, use, sell, and offer to sell FE301, an interleukin-6 inhibitor. The company also has collaborations with Bristol Myers Squibb for the development of givastomig; ABL Bio, Inc. for the development of givastomig and ragistomig; and TJ Bio for the development of uliledlimab. The company was formerly known as I-Mab and change its name to NovaBridge Biosciences in October 2025. NovaBridge Biosciences was founded in 2014 and is headquartered in Rockville, Maryland.

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.

NovaBridge Biosciences Financial Statement Overview

Summary

Weak operating fundamentals: revenue dropped to zero in 2024 with recurring large operating and net losses, and operating/free cash flow remain negative (ongoing cash burn). The main offset is a low-debt balance sheet with positive equity, but continued losses could pressure the capital base over time.

Income Statement

Operating performance has deteriorated meaningfully: revenue fell to zero in 2024 after being minimal in 2023 and volatile in prior years, with recurring large operating losses (negative EBIT/EBITDA) and deep net losses across 2021–2024. While 2020 showed strong profitability on high revenue, that appears non-recurring given the subsequent collapse in sales and return to heavy losses, indicating weak earnings quality and limited near-term visibility.

Balance Sheet

The balance sheet shows low leverage in recent years, with debt-to-equity near ~2% in 2024 and similarly low levels in 2021–2023, supported by positive equity and sizable assets. However, profitability on equity is strongly negative in 2021–2024 (loss-making), and the history includes a period of negative equity in 2019, highlighting that ongoing losses could pressure the capital base over time despite currently modest debt.

Cash Flow

Cash generation is consistently weak: operating cash flow and free cash flow are negative in 2021–2024, implying continued cash burn. 2020 was a notable exception with positive operating cash flow and free cash flow, but the reversal since then raises sustainability concerns; cash burn has moderated versus 2022 but remains meaningfully negative in 2024.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	4.49M	-10.70M	88.03M	1.54B
Gross Profit	-2.00M	0.00	4.49M	-248.80M	41.59M	1.54B
EBITDA	-86.48M	-373.45M	-344.25M	-51.23M	-2.06B	168.31M
Net Income	-66.72M	-162.26M	-1.47B	-2.51B	-2.33B	470.92M
Balance Sheet
Total Assets	277.41M	212.68M	2.61B	4.07B	5.63B	6.33B
Cash, Cash Equivalents and Short-Term Investments	228.27M	173.40M	2.29B	3.45B	670.96M	733.21M
Total Debt	3.27M	3.88M	133.87M	38.29M	112.45M	13.60M
Total Liabilities	18.50M	11.52M	894.81M	1.07B	1.04B	706.65M
Stockholders Equity	258.92M	201.16M	1.72B	3.01B	4.59B	5.63B
Cash Flow
Free Cash Flow	13.15M	-52.72M	-73.02M	-1.15B	-1.00B	425.55M
Operating Cash Flow	13.15M	-52.67M	-72.85M	-1.10B	-973.09M	433.56M
Investing Cash Flow	0.00	-135.97M	-107.63M	458.38M	-727.21M	-201.90M
Financing Cash Flow	433.38M	―	-8.25M	42.36M	593.92M	3.44B

NovaBridge Biosciences Technical Analysis

• Last Price: 3.73

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NBP, the sentiment is undefined. The current price of 3.73 is equal to the 20-day moving average (MA) of ―, equal to the 50-day MA of ―, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of ― indicates undefined momentum. The RSI at ― is undefined, neither overbought nor oversold. The STOCH value of ― is undefined, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a undefined sentiment for NBP.

NovaBridge Biosciences 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%

NovaBridge Biosciences Corporate Events

NovaBridge Posts Strong Phase 1b Givastomig Data and Prepares Global Phase 2 in First-Line Gastric Cancer

On January 6, 2026, NovaBridge Biosciences reported updated Phase 1b data showing that its Claudin 18.2 x 4‑1BB bispecific antibody givastomig, in combination with nivolumab and mFOLFOX6 chemotherapy, produced robust objective response rates of 77% at 8 mg/kg and 73% at 12 mg/kg in U.S. patients with HER2‑negative, first‑line metastatic gastric cancer, with responses seen across a broad range of PD‑L1 and CLDN18.2 expression levels and a median progression-free survival of 16.9 months at the 8 mg/kg dose as of a December 2, 2025 cutoff. The regimen’s safety profile was broadly comparable to current first-line standards of care, with manageable immune‑related gastritis that appeared to correlate with better outcomes, and the strength of these data has prompted NovaBridge to proceed with a global randomized Phase 2 trial in the first quarter of 2026, positioning givastomig as a potential best‑in‑class CLDN18.2‑directed therapy and reinforcing the company’s competitive stance in the fast‑growing gastric cancer market.

The most recent analyst rating on (NBP) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on NovaBridge Biosciences stock, see the NBP Stock Forecast page.

NovaBridge Biosciences Files Nine-Month 2025 Results and Updates Investors on Strategic Transition

On December 18, 2025, NovaBridge Biosciences reported its results for the nine months ended September 30, 2025, filing a Form 6-K that includes management’s discussion and analysis and unaudited condensed consolidated financial statements. The filing, signed by CEO Xi-Yong (Sean) Fu, incorporates these interim results by reference into the company’s existing U.S. registration statements, underscoring their importance for investors monitoring NovaBridge’s financial condition amid its strategic transition toward a biotechnology platform model and ongoing corporate restructuring.

The most recent analyst rating on (NBP) stock is a Buy with a $7.00 price target. To see the full list of analyst forecasts on NovaBridge Biosciences stock, see the NBP Stock Forecast page.

NovaBridge Biosciences Announces Positive Phase 1 Data for Ragistomig at ESMO-IO

On December 10, 2025, NovaBridge Biosciences presented positive data from a Phase 1 dose expansion study of ragistomig, a bispecific antibody, at the ESMO-IO Congress. The study showed that the new Q6W dosing schedule for ragistomig demonstrated encouraging anti-tumor efficacy and improved safety compared to the previous Q2W schedule, with only 5% of patients experiencing significant liver function elevation. This advancement supports further development into combination studies, potentially enhancing treatment outcomes for patients with relapsed or refractory solid tumors. The findings align with NovaBridge’s strategy to partner globally for transformative therapies, reinforcing its position in the biotechnology industry.

The most recent analyst rating on (NBP) stock is a Buy with a $7.00 price target. To see the full list of analyst forecasts on NovaBridge Biosciences stock, see the NBP Stock Forecast page.

NovaBridge to Present Ragistomig Phase 1 Data at ESMO-IO

On December 3, 2025, NovaBridge Biosciences announced that data from the expanded Phase 1 study of ragistomig, a bispecific antibody, will be presented at the ESMO-IO Congress on December 10, 2025. The study achieved its objective by demonstrating strong anti-tumor efficacy and improved safety in patients resistant to checkpoint inhibitors. This advancement supports further development and potential combination studies, enhancing NovaBridge’s position in the oncology field.

The most recent analyst rating on (NBP) stock is a Buy with a $7.00 price target. To see the full list of analyst forecasts on NovaBridge Biosciences stock, see the NBP Stock Forecast page.