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Adlai Nortye Ltd., a clinical-stage biotechnology company, engages in the research and develops pharmaceutical products in the United States and internationally. Its lead product is AN8025, a tri-functional fusion protein of aPD-L1 x CD86 variant x LAG3 variant, a T-cell and antigen-presenting cell modulator, which is in phase 1a clinical trials for the treatment of tumor. The company also developing AN9025, an oral small molecule pan-RAS(ON) inhibitor, which is in phase 1a clinical trials for the treatment of RAS-mutant cancers include pancreatic, lung, and colorectal adenocarcinomas; and AN4005, a first-in-class oral small-molecule PD-L1 inhibitor, which is in phase 1b treatment for tumor to activate cancer immunity. It is also developing AN0025, a small molecule EP4 antagonist, which is in phase 1b clinical trials for the treatment of locally advanced esophageal cancer (+chemoradiation therapy), and radiotherapy which is in phase 2 clinical trials for the treatment of rectal cancer (+chemoradiation therapy). Adlai Nortye Ltd. was founded in 2004 and is based in Grand Cayman, the Cayman Islands.
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Adlai Nortye Ltd. (NASDAQ: ANL) is a China-based producer of advanced lithium‑ion battery materials and related chemicals. Long-term growth drivers may include rising electric-vehicle and grid-storage demand and technology shifts toward higher-performance materials, and investors may find exposure attractive if the company secures scale, supply contracts or proprietary processes.
Material risks include limited public disclosure, intense competition and pricing pressure, raw-material cost volatility and cyclical end-market demand, and China–U.S. regulatory or geopolitical actions that could affect cross-border listings or access to capital.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -35.62M | -51.90M | -104.14M | -58.79M | -56.68M |
| Net income | -35.62M | -51.90M | -104.78M | -58.79M | -56.68M |
| Selling general administrative | 7.79M | 9.44M | 15.29M | 13.04M | 12.45M |
| Selling and marketing expenses | - | - | 2.23M | - | - |
| Gross profit | 5.00M | -1.87M | 2.78M | -2.04M | 45.73M |
| Reconciled depreciation | 1.41M | 1.87M | 2.22M | 2.04M | 1.83M |
| Ebit | -36.19M | -49.95M | -68.38M | -59.39M | -56.17M |
| Ebitda | -34.77M | -48.08M | -66.16M | -57.35M | -54.34M |
| Depreciation and amortization | 1.42M | 1.87M | 2.22M | 2.04M | 1.83M |
| Operating income | -35.70M | -54.90M | -68.38M | -67.27M | -8.65M |
| Other operating expenses | 41.20M | 54.90M | 73.38M | 67.27M | 54.37M |
| Interest expense | 1.54M | 1.94M | 0.79M | 0.43M | 0.58M |
| Tax provision | 0.00M | 0.00M | 0.64M | 0.00M | 0.00M |
| Interest income | - | - | 0.06M | 0.55M | 0.03M |
| Net interest income | -1.53M | -1.94M | -0.73M | -0.43M | -1.34M |
| Income tax expense | - | - | 0.64M | 8.31M | -46.19M |
| Total revenue | 5.01M | 0.00M | 5.00M | 0.00M | 45.73M |
| Total operating expenses | 40.70M | 53.02M | 71.16M | 67.27M | 54.37M |
| Cost of revenue | - | 1.87M | 2.22M | 2.04M | - |
| Total other income expense net | 0.57M | 3.00M | -35.76M | 8.91M | -46.70M |
| Net income from continuing ops | -35.53M | -51.87M | -104.87M | -58.79M | -56.68M |
| Net income applicable to common shares | - | - | - | -58.79M | -58.79M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 34.43M | 71.27M | 130.19M | 72.59M | 131.69M |
| Intangible assets | 0.02M | 0.04M | 0.06M | 0.09M | 0.10M |
| Other current assets | 1.72M | 1.98M | 2.34M | - | - |
| Total liab | 42.76M | 45.78M | 50.79M | 313.89M | 317.11M |
| Total stockholder equity | -8.32M | 25.48M | 79.40M | -241.29M | -185.43M |
| Other current liab | 3.74M | 3.34M | 4.89M | 294.25M | 3.22M |
| Common stock | 0.01M | 0.01M | 0.01M | 0.00M | 0.00M |
| Capital stock | 0.01M | 0.01M | 0.01M | 10.98M | 10.98M |
| Retained earnings | -464.85M | -429.32M | -373.09M | -268.22M | -209.43M |
| Other assets | - | - | 0.00M | - | - |
| Cash | 23.79M | 60.90M | 91.49M | 42.76M | 64.13M |
| Total current liabilities | 41.63M | 45.36M | 50.32M | 312.65M | 17.50M |
| Current deferred revenue | - | 5.00M | 0.00M | 3.88M | - |
| Net debt | 2.59M | -33.68M | -59.94M | -36.21M | -50.79M |
| Short term debt | 25.25M | 26.80M | 31.08M | 5.31M | 11.29M |
| Short long term debt | 24.58M | 26.33M | 30.36M | 4.31M | 10.46M |
| Short long term debt total | 26.38M | 27.23M | 31.55M | 6.54M | 13.35M |
| Other stockholder equity | 439.27M | 459.33M | 438.71M | 40.21M | 28.04M |
| Total current assets | 26.89M | 64.06M | 101.20M | 66.30M | 124.54M |
| Long term investments | 4.25M | 4.16M | 24.85M | - | - |
| Net tangible assets | - | - | - | -252.36M | - |
| Short term investments | 0.00M | 0.01M | 7.01M | 21.29M | 53.81M |
| Net receivables | 1.39M | 1.17M | 0.36M | 0.35M | 1.93M |
| Inventory | - | - | 0.00M | - | - |
| Accounts payable | 12.64M | 10.15M | 14.35M | 13.10M | 2.98M |
| Accumulated other comprehensive income | 17.25M | -4.54M | 13.78M | -4.16M | -1.00M |
| Non currrent assets other | 0.25M | 0.30M | 0.28M | 0.33M | 0.46M |
| Non current assets total | 7.54M | 7.21M | 28.99M | 6.29M | 7.14M |
| Capital lease obligations | 1.79M | 0.90M | 1.19M | 2.24M | 2.89M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -15.39M | 28.07M | -10.95M | 28.38M | -54.86M |
| Change to liabilities | - | - | - | 10.12M | 0.00M |
| Total cashflows from investing activities | -15.62M | 28.07M | - | - | - |
| Net borrowings | -2.64M | -4.86M | - | -6.49M | -6.49M |
| Total cash from financing activities | -3.82M | -6.58M | 116.14M | -6.78M | 97.20M |
| Net income | -35.62M | -51.87M | -104.78M | -58.79M | -56.68M |
| Change in cash | -37.12M | -30.59M | 48.73M | -21.37M | 39.87M |
| Begin period cash flow | 60.90M | 91.49M | 42.76M | 64.13M | 24.26M |
| End period cash flow | 23.79M | 60.90M | 91.49M | 42.76M | 64.13M |
| Total cash from operating activities | -33.54M | -51.82M | -56.54M | -43.22M | -3.03M |
| Issuance of capital stock | 0.00M | 0.00M | 91.78M | 0.00M | - |
| Depreciation | 1.42M | 1.87M | 2.22M | 2.04M | 1.83M |
| Other cashflows from investing activities | - | 0.73M | - | - | - |
| Dividends paid | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other cashflows from financing activities | -1.81M | -1.87M | 117.34M | 7.61M | 108.60M |
| Change to netincome | - | - | - | -1.72M | -1.72M |
| Capital expenditures | 0.19M | 0.17M | 0.20M | 1.27M | 1.12M |
| Change in working capital | -2.29M | -5.54M | 1.77M | 15.25M | 0.25M |
| Stock based compensation | 1.53M | 2.45M | 4.33M | 6.08M | 3.39M |
| Other non cash items | 2.96M | 1.27M | 47.44M | -6.76M | 48.25M |
| Free cash flow | -33.73M | -51.99M | -56.74M | -44.49M | -4.15M |
Sector: Healthcare Industry: Biotechnology
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
|---|---|---|---|---|---|---|---|
| ANL Adlai Nortye Ltd. American Depositary Shares |
0.45 4.38% |
10.73 | - | - | 176.22 | 82.76 | 173.51 |
| NVO Novo Nordisk A/S |
0.47 1.18% |
40.78 | 41.58 | 31.15 | 2.13 | 32.99 | 2.11 |
| VRTX Vertex Pharmaceuticals Inc |
0.34 0.06% |
547.43 | 30.22 | 24.27 | 10.36 | 6.50 | 9.99 |
| REGN Regeneron Pharmaceuticals Inc |
8.76 0.97% |
913.11 | 29.07 | 20.12 | 7.57 | 3.82 | 6.95 |
| ARGNF argenx SE |
- -% |
900.30 | 45.77 | 31.25 | 13.84 | 7.12 | 11.38 |
Adlai Nortye Ltd., a clinical-stage biotechnology company, engages in the research and develops pharmaceutical products in the United States and internationally. Its lead product is AN8025, a tri-functional fusion protein of aPD-L1 x CD86 variant x LAG3 variant, a T-cell and antigen-presenting cell modulator, which is in phase 1a clinical trials for the treatment of tumor. The company also developing AN9025, an oral small molecule pan-RAS(ON) inhibitor, which is in phase 1a clinical trials for the treatment of RAS-mutant cancers include pancreatic, lung, and colorectal adenocarcinomas; and AN4005, a first-in-class oral small-molecule PD-L1 inhibitor, which is in phase 1b treatment for tumor to activate cancer immunity. It is also developing AN0025, a small molecule EP4 antagonist, which is in phase 1b clinical trials for the treatment of locally advanced esophageal cancer (+chemoradiation therapy), and radiotherapy which is in phase 2 clinical trials for the treatment of rectal cancer (+chemoradiation therapy). Adlai Nortye Ltd. was founded in 2004 and is based in Grand Cayman, the Cayman Islands.
| Name | Title | Year Born |
|---|---|---|
| Mr. Yang Lu | CEO & Chairman | 1981 |
| Ms. Wei Zhang | Chief Financial Officer | 1991 |
| Dr. Kaiyang Tang | Senior VP & Global Head of Clinical Operations | 1964 |
| Dr. Victoria Elizabeth Demby Ph.D. | Senior VP & Global Head of Regulatory Affairs | 1970 |
| Dr. Ngai Chiu Tse M.D., Ph.D. | Head of Research & Development | 1968 |
| Mr. Yang Lu | Co- Founder, CEO & Chairman | 1979 |
| Dr. Ngai Chiu Tse M.D., Ph.D. | President & Head of Research & Development | 1968 |
| Dr. Xiaofeng Ye Ph.D. | Chief Financial Officer | 1980 |
| Dr. Zhiyong Yu Ph.D. | Vice President of Operations | NA |
| Mr. Chen Yang | Head of HR & Administration & Government Affairs | NA |
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