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Adlai Nortye Ltd. American Depositary Shares

Company price
10.73 USD 0.45 ( 4.38%)
Last update at 2026-11-09T15:46:00Z
VOLUME
67179
Market Cap
881.08M

Momentum Score

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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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Day Price Range
9.85
Low
10.95
High
52 Week Price Range
0.88
Low
17.25
High

Momentum Score

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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

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.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
10.28
Dividend Yield
-
Revenue TTM
5.00M
Revenue Per Share
0.16
Gross Profit TTM
5.00M
Debt / Equity
-3.17
ROE
-414.01%
Net Debt
2.59M
ROCE
502.98%
Diluted EPS TTM
-1.11

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

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

Peer Comparison*

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

Profile*

Adlai Nortye Ltd. American Depositary Shares

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.

Ugland House, Grand Cayman, Cayman Islands, KY1-1104

848 230 7430

109

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

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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