Appili Therapeutics Inc Class A (APLI) AI Stock Analysis

• Market Cap: C$3.03M
• Dividend Yield: N/A
• Average Volume (3M): 72.91K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.46
• Revenue Growth: -58.01%
• EPS Growth: 29.73%
• Country: CA
• Employees: 8
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): >-0.01
• Shares Outstanding: 121,266,120
• 10 Day Avg. Volume: 40,186
• 30 Day Avg. Volume: 72,908
• PEG Ratio: 0.02
• Price to Book (P/B): -0.39
• Price to Sales (P/S): 5.13
• P/FCF Ratio: -1.70
• 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: C$0.02 ▲(0.00% Upside)

The score is primarily constrained by weak financial performance—persistent losses, negative equity, and reliance on external funding. Technical signals are mixed-to-neutral and do not materially offset the financial risk, while valuation is also challenged by negative earnings and no dividend support.

Positive Factors

Focused infectious-disease clinical pipeline

Specialization in antibacterial, antiviral and antifungal therapeutics creates durable scientific expertise and an addressable market with persistent unmet needs. This focus supports consistent relevance for grants, strategic partnerships and regulatory priority pathways over the next several months.

High gross margin profile on reported activity

A ~96% gross margin indicates low direct product costs for the company’s development-stage assets. If a program reaches commercialization, high product economics can support long-term profitability and scalable margins, improving the business case for partners and licensees.

Reduced operating cash burn trend

Recent TTM cash-flow improvement and a much smaller negative operating cash flow suggest better expense control and a longer runway versus earlier heavy burn. Sustained lower burn reduces near-term financing pressure and increases flexibility to advance clinical milestones.

Negative Factors

Negative shareholders' equity and small asset base

A negative equity position with very small assets materially weakens financial flexibility. Over months, this constrains borrowing capacity, increases dependence on external capital, and may force dilutive financings or unfavorable partnership terms to fund ongoing clinical programs.

Very limited operating revenue and persistent losses

Minimal revenue and sizable operating losses mean the company cannot self-fund development. Over a multi-month horizon this elevates execution risk for trials and regulatory milestones, making program continuity contingent on external financing or partnerships.

Ongoing reliance on external financing and grants

The business model’s dependence on grants, partnerships and capital markets is structural. It exposes the company to funding availability and milestone timing; sustained operations and pipeline advancement are vulnerable to market conditions and partner decisions over the coming months.

Appili Therapeutics Inc Class A Business Overview & Revenue Model

Company Description

Appili Therapeutics Inc., a biopharmaceutical company, focuses on the acquisition and development of novel medicines for unmet needs in the infectious disease in Canada. Its anti-infective portfolio includes Favipiravir for pandemic influenza and COVID-19; ATI-2307, an antifungal candidate, which is in clinical stage for the treatment of cryptococcal meningitis and invasive candidiasis; ATI-1503 that develops a class of gram-negative targeting antibiotics; ATI-1501, a taste-masked liquid oral suspension formulation of an antibiotic, metronidazole; ATI-1801, a novel topical formulation of paromomycin for the treatment of cutaneous leishmaniasis; and ATI-1701 is a live-attenuated vaccine for Francisella tularensis. The company has a strategic alliance with AiPharma Global Holdings LLC for the development of Avigan/Reeqonus (favipiravir). Appili Therapeutics Inc. was incorporated in 2015 and is headquartered in Halifax, Canada.

How the Company Makes Money

Appili Therapeutics generates revenue primarily through the development and commercialization of its pharmaceutical products. The company earns money by securing funding from government grants, partnerships, and collaborations with larger pharmaceutical companies that provide resources and capital to support its research and development efforts. Additionally, Appili may receive milestone payments and royalties from partners upon the successful development and commercialization of their products. Their revenue model is further supported by potential sales of their therapies once they receive regulatory approval and are brought to market.

Appili Therapeutics Inc Class A Financial Statement Overview

Summary

Overall financial quality is weak, driven by very small TTM revenue (~$0.20M), deep losses (EBIT ~-$1.69M; net income ~-$2.53M), and a fragile balance sheet with negative equity (~-$15.6M) alongside meaningful debt (~$12.2M). Cash flow is slightly negative (~-$0.17M operating/FCF) and volatile, indicating ongoing reliance on external funding despite some recent improvement in burn rate.

Income Statement

TTM (Trailing-Twelve-Months) revenue is very small (about $0.20M) despite a high reported growth rate, and profitability remains deeply negative. While gross margin is strong (~96%), operating losses are large (EBIT about -$1.69M; net income about -$2.53M), indicating the business is still far from self-funding and results are highly sensitive to expense control and pipeline timing.

Balance Sheet

The balance sheet is weak: stockholders’ equity is negative in the most recent periods (TTM equity about -$15.6M) alongside meaningful debt (TTM total debt about $12.2M). Assets are relatively small (TTM total assets about $0.75M), and the negative equity position increases financial risk and reduces flexibility, especially for a biotech that may need ongoing funding.

Cash Flow

Cash generation is inconsistent. TTM (Trailing-Twelve-Months) operating cash flow and free cash flow are slightly negative (roughly -$0.17M each), which is an improvement versus several prior years that showed heavy cash burn, but the trend is volatile (annual operating cash flow swings from positive in 2025 annual to deeply negative in earlier years). Overall, the company still appears reliant on external financing rather than internally generated cash.

Breakdown	TTM	Dec 2024	Dec 2024	Dec 2023	Dec 2022	Dec 2020
Income Statement
Total Revenue	199.69K	827.41K	100.44K	334.18K	1.39M	0.00
Gross Profit	188.75K	827.41K	100.44K	327.91K	1.39M	-14.84K
EBITDA	-881.13K	-2.07M	360.57K	-8.10M	-23.51M	-14.87M
Net Income	-2.53M	-3.78M	-2.62M	-9.24M	-25.12M	-14.33M
Balance Sheet
Total Assets	754.46K	1.49M	3.03M	3.13M	8.28M	18.32M
Cash, Cash Equivalents and Short-Term Investments	348.68K	94.49K	1.23M	2.47M	6.66M	16.12M
Total Debt	12.22M	8.18M	12.29M	7.67M	4.98M	1.03M
Total Liabilities	16.36M	12.42M	16.43M	10.53M	11.55M	5.56M
Stockholders Equity	-15.61M	-10.92M	-13.40M	-7.40M	-3.27M	12.75M
Cash Flow
Free Cash Flow	-174.57K	-2.49M	866.46K	-10.10M	-19.08M	-11.46M
Operating Cash Flow	-173.87K	-2.46M	868.82K	-10.10M	-19.08M	-11.45M
Investing Cash Flow	-702.00	-29.06K	-2.36K	-3.17K	5.06M	-4.99M
Financing Cash Flow	-221.47K	122.05K	193.68K	5.91M	9.56M	17.02M

Appili Therapeutics Inc Class A Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.02
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:APLI, the sentiment is Positive. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 56.10 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:APLI.

Appili Therapeutics Inc Class A 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%
XRTX	46 Neutral	C$4.80M	-1.05	-96.61%	―	―	-1939.32%
APLI	45 Neutral	C$3.03M	-1.20	―	―	-58.01%	29.73%
VXL	43 Neutral	C$391.76K	-5.61	-10.82%	―	―	46.32%
MIR	42 Neutral	C$45.61M	-11.21	―	―	-41.70%	-35.42%
KNE	41 Neutral	C$7.26M	-3.28	―	―	―	―
BIOV	29 Underperform	$5.25M	-0.79	―	―	―	25.09%

Appili Therapeutics Inc Class A Corporate Events

Appili Therapeutics Raises C$177,500 in First Tranche of Private Placement

Appili Therapeutics has closed the first tranche of its previously announced non-brokered private placement, raising C$177,500 through the issuance of 7.1 million units priced at C$0.025 each, with each unit comprising one Class A common share and one-half of a common share purchase warrant. The warrants, along with additional broker warrants issued as part of finder compensation, will only become exercisable upon receiving requisite shareholder approval under Toronto Stock Exchange rules, with all securities subject to a four-month-plus-one-day hold period; the company plans a second tranche of the financing later in December 2025 and intends to use the proceeds primarily for working capital and to advance its pipeline of infectious disease product candidates, underscoring its ongoing need for capital to support development in a highly specialized biopharmaceutical niche.

The most recent analyst rating on (TSE:APLI) stock is a Hold with a C$0.03 price target. To see the full list of analyst forecasts on Appili Therapeutics Inc Class A stock, see the TSE:APLI Stock Forecast page.

Appili Therapeutics Reports Strong Q2 Results and Secures Major Funding for Infectious Disease Programs

Appili Therapeutics has announced its financial and operational results for the second quarter of fiscal year 2026, highlighting a significant non-dilutive funding award of up to US$40 million from the NIAID for its VXV-01 program. The company is actively pursuing additional funding proposals worth US$90 million to support various development activities. Appili’s strategic approach to securing government contracts and grants has already resulted in over US$66 million in funding, positioning the company to advance its infectious disease and biodefense programs while maintaining financial flexibility. The re-launch of LIKMEZ® in the U.S. market has shown increasing sales, and the company is progressing with its ATI-1801 and ATI-1701 programs, with the latter achieving key manufacturing milestones and promising data presentations.

Appili Therapeutics Launches C$750,000 Private Placement to Boost Drug Development

Appili Therapeutics announced a non-brokered private placement to raise up to C$750,000 through the issuance of 30 million units, each consisting of a common share and a warrant. The funds will be used for working capital and product development, with the placement subject to regulatory approvals and shareholder consent for warrant exercisability. This move is expected to support the company’s ongoing efforts in drug development and strengthen its financial position.