Healthcare · Biotechnology
Price
$4.47
Market Cap
$168.3M
Employees
138
Beta
0.60
Avg Volume
249,160
CEO
Peter Luo
Business Description
Adagene Inc. functions as a clinical-stage biopharmaceutical organization, primarily concentrating on the identification, evolution, and fabrication of monoclonal antibody-based therapeutics engineered to combat various types of cancer. The company's developmental pipeline encompasses several investigational assets currently undergoing human trials. Among these is ADG106, a human ligand-blocking agonistic anti-CD137 monoclonal antibody, which is navigating Phase 1b/2 clinical assessment for individuals with advanced solid tumors and non-Hodgkin's lymphoma. Additionally, Adagene is progressing ADG126, a fully-human anti-CTLA-4 mAb, and ADG116, another human ligand-blocking anti-CTLA-4 mAb, both of which are advancing through Phase 1 studies for the treatment of advanced or metastatic solid tumors. Further along, ADG104, an anti-PD-L1 mAb, is in Phase 2 clinical development, and the innovative anti-CSF-1R mAb, ADG125, is undergoing Phase 1 trials. Beyond its clinical-stage programs, the firm also maintains an active preclinical portfolio. This includes ADG206, a masked, Fc engineered anti-CD137 agonistic POWERbody; ADG153, a masked anti-CD47 IgG1 SAFEbody, which is being explored for hematologic and solid tumor indications; ADG138, a novel HER2xCD3 POWERbody designed to target HER2-expressing solid tumors; and ADG152, a CD20xCD3 POWERbody under investigation for its potential to minimize off-tumor toxicities. Adagene Inc. was founded in 2011 and its principal operations are based in Suzhou, China.
Business History
Price Overview
Price at report time · Jul 4, 4:41am (0m ago)
$4.47
Change · Jul 4
-0.31 (-6.49%)
Day Range
$4.41 – $4.67
52-Week Range
$1.30 – $4.85
50-Day MA
$3.73
200-Day MA
$2.80
Volume
81,229.00
Right now · live
loading…
Real-time — the change above is the move since the report (over 0m).
Analyst Price Targets
Low
$5.00
Consensus
$5.00
High
$5.00
(2 analysts)
Share Structure
Outstanding
37,648,598.00
Float
26,986,225.00
Free Float
71.7%
Normal free float
— 71.7% of shares trade freely, ~28.3% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-9.72
Stock Price: $4.47
EPS (Diluted): -0.46
EPS (Diluted): -0.46
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
2.02
Stock Price: $4.47
Total Equity: $35.35M
Shares: 37,763,922
Total Equity: $35.35M
Shares: 37,763,922
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-4.78
Market Cap: $168.29M
Total Debt: $6.12M
Cash: $74.52M
EBITDA: -$16.85M
Total Debt: $6.12M
Cash: $74.52M
EBITDA: -$16.85M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$3.1M
Market Cap: $168.29M
Total Debt: $6.12M
Cash: $74.52M
Total Debt: $6.12M
Cash: $74.52M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
9.30
Stock Price: $4.47
Revenue: $7.67M
Shares: 37,763,922
Revenue: $7.67M
Shares: 37,763,922
EV/Sales (Total value vs revenue — works when P/E can't)
API0.41
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
100.0%
Gross Profit: $7.67M
Revenue: $7.67M
Revenue: $7.67M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-279.5%
Operating Income: -$21.44M
Revenue: $7.67M
Revenue: $7.67M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-229.6%
Net Income: -$17.61M
Revenue: $7.67M
Revenue: $7.67M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-48.2%
Net Income: -$17.61M
Total Equity: $35.35M
Total Equity: $35.35M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-36.3%
Operating Income: -$21.44M
Tax Rate: 1.7%
Equity: $35.35M
Total Debt: $6.12M
Cash: $74.52M
Tax Rate: 1.7%
Equity: $35.35M
Total Debt: $6.12M
Cash: $74.52M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
3.07
Current Assets: $77.38M
Current Liabilities: $25.17M
Current Liabilities: $25.17M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.17
Short-Term Debt: $4.98M
Long-Term Debt: $1.14M
Total Debt: $6.12M
Total Equity: $35.35M
Long-Term Debt: $1.14M
Total Debt: $6.12M
Total Equity: $35.35M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$0.20
Revenue: $7.67M
Shares: 37,763,922
Shares: 37,763,922
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$0.94
Total Equity: $35.35M
Shares: 37,763,922
Shares: 37,763,922
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.42
Operating CF: -$15.66M
CapEx: -$17,053
Shares: 37,763,922
CapEx: -$17,053
Shares: 37,763,922
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $4.47
Stock Price: $4.47
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$17.61M
Net Income: -$17.61M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares ADAG against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jul 4, 2026 4:41am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $10.2M | $9.3M | $18.1M | $103,204 | $7.7M |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $10.2M | $9.3M | $18.1M | $-823,044 | $7.7M |
| Operating Expenses | $82.5M | $93.2M | $41.8M | $36.1M | $29.1M |
| Operating Income | -$72.4M | -$83.9M | -$23.7M | -$36.0M | -$21.4M |
| Net Income | -$73.2M | -$80.0M | -$18.9M | -$33.4M | -$17.6M |
| EBITDA | -$70.0M | -$77.4M | -$15.0M | -$31.7M | -$16.9M |
| EPS | $-2.29 | $-2.31 | $-0.55 | $-0.95 | $-0.46 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jul 4, 2026 4:41am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $174.4M | $143.8M | $109.9M | $85.2M | $74.5M |
| Total Current Assets | $186.0M | $149.3M | $113.4M | $87.8M | $77.4M |
| Total Assets | $189.5M | $152.4M | $115.7M | $89.3M | $78.3M |
| Current Liabilities | $29.8M | $55.1M | $31.5M | $38.2M | $25.2M |
| Long-Term Debt | $3.0M | $14.1M | $13.5M | $417,339 | $1.1M |
| Total Liabilities | $33.0M | $69.3M | $45.2M | $38.7M | $42.9M |
| Total Equity | $156.6M | $83.1M | $70.6M | $50.5M | $35.3M |
| Retained Earnings | -$178.8M | -$258.8M | -$277.8M | -$311.2M | -$328.8M |
Cash Flow (Annual)
Last updated: Jul 4, 2026 4:41am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$43.4M | -$48.6M | -$28.5M | -$29.7M | -$15.7M |
| Capital Expenditure | -$2.5M | $-690,938 | $-85,012 | $-33,580 | $-17,053 |
| Free Cash Flow | -$45.9M | -$49.3M | -$28.5M | -$29.7M | -$15.7M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$2.4M | -$4.0M | $0 | $0 | $0 |
| Net Change in Cash | $99.2M | -$30.6M | -$33.8M | -$24.7M | -$10.7M |
Analyst Estimates (Annual)
Last updated: Jul 4, 2026 4:41am (just now)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$4.5M $4.5M – $4.5M
|
$27.8M $27.8M – $27.8M
|
$38.5M $38.5M – $38.5M
|
$19.8M $19.8M – $19.8M
|
| EBITDA |
-$4.4M -$4.4M – -$4.4M
|
-$26.8M -$26.8M – -$26.8M
|
-$37.2M -$37.2M – -$37.2M
|
-$19.1M -$19.1M – -$19.1M
|
| Net Income |
-$18.9M -$20.5M – -$17.3M
|
-$22.8M -$27.9M – -$17.7M
|
-$30.5M -$30.5M – -$30.5M
|
-$23.7M -$23.7M – -$23.7M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jul 4, 2026 4:41am (just now)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -8.7% | +94.9% | -99.4% | +7,332.8% |
| Gross Profit Growth | -8.7% | +94.9% | -104.5% | +1,032.0% |
| Operating Income Growth | -16.0% | +71.7% | -51.6% | +40.4% |
| Net Income Growth | -9.3% | +76.3% | -76.4% | +47.3% |
| EBITDA Growth | -10.6% | +80.7% | -111.8% | +46.8% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-03-18 | Chane-Du Mickael Yannick | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Chane-Du Mickael Yannick | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Chane-Du Mickael Yannick | 400,000.00 | $1.38 | $550,400 | |
| 2026-03-18 | Chane-Du Mickael Yannick | 400,000.00 | $2.03 | $812,800 | |
| 2026-03-02 | Chane-Du Mickael Yannick | 250,000.00 | $4.00 | $1.0M | |
| 2026-03-18 | Tam Man Kin | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Tam Man Kin | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Tam Man Kin | 100,000.00 | $2.03 | $203,200 | |
| 2026-03-18 | Tam Man Kin | 50,000.00 | $1.04 | $52,000 | |
| 2026-03-18 | Tam Man Kin | 138,519.00 | $1.48 | $205,008 | |
| 2026-03-18 | Tam Man Kin | 74,886.00 | $1.83 | $137,041 | |
| 2026-03-18 | Tam Man Kin | 40,000.00 | $1.33 | $53,200 | |
| 2026-03-18 | Tam Man Kin | 252,448.00 | $1.73 | $436,735 | |
| 2026-03-18 | Tam Man Kin | 50,000.00 | $1.55 | $77,500 | |
| 2026-03-18 | Tam Man Kin | 100,000.00 | $1.41 | $140,800 | |
| 2026-03-18 | Luo Peter | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Luo Peter | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Luo Peter | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Luo Peter | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Luo Peter | 2,250.00 | $5.60 | $12,600 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for ADAG — it's generated by the pipeline (
market-narrative step).
No community reviews yet for ADAG.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
Sign in to save personal notes and rate your interest in this stock.
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.375 · 8810b4cb · 2026-07-03 16:26:33