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Keymed Biosciences, Inc.
(2162)
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Rating:55Neutral
Price Target:
HK$78.00
▲(24.20% Upside)
Action:Reiterated
Date:07/16/26
Overall score is held back primarily by weak financial performance (large operating losses and sustained negative operating/free cash flow, plus a 2025 revenue decline), partially offset by a strong technical uptrend (price well above key moving averages with positive MACD). Valuation remains challenged due to negative earnings (negative P/E) and no dividend yield provided.
Positive Factors
Balance Sheet
Positive equity of about 2.78bn and moderate debt-to-equity of 0.28x provide a financial cushion for continued development and commercialization. Asset growth to about 4.22bn also indicates capacity to keep investing, although losses still weaken returns.
Negative Factors
Severe Operating Losses
Operating losses remain severe, with 2025 EBIT margin near -84% and net margin near -73% despite gross margin of about 74%. The gap shows that the current operating cost base overwhelms gross profit, leaving the company far from sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet
Positive equity of about 2.78bn and moderate debt-to-equity of 0.28x provide a financial cushion for continued development and commercialization. Asset growth to about 4.22bn also indicates capacity to keep investing, although losses still weaken returns.
Read all positive factors
Keymed Biosciences, Inc. (2162) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$21.45B
Dividend YieldN/A
Average Volume (3M)2.11M
Price to Earnings (P/E)22.6
Beta (1Y)0.77
Revenue Growth0.08%
EPS GrowthN/A
CountryHK
Employees1,768
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)2.78
Shares Outstanding298,735,570
10 Day Avg. Volume1,767,277
30 Day Avg. Volume2,108,145
Financial Highlights & Ratios
PEG Ratio4.62
Price to Book (P/B)4.74
Price to Sales (P/S)18.85
P/FCF Ratio-12.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$107.32Price Target Upside70.89% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)2.59
Revenue Forecast (FY)HK$1.62B
Keymed Biosciences, Inc. Business Overview & Revenue Model
Company Description
Keymed Biosciences Inc., a biotechnology firm founded in 2016 in Chengdu, China (formerly known as 2Health Biosciences, Inc.), specializes in the research and development of innovative biological treatments, primarily targeting autoimmune and onco...
How the Company Makes Money
Keymed Biosciences primarily makes money through (1) commercialization and sales of approved medicines, where revenue is generated from selling its marketed products through distribution channels; and (2) out-licensing and collaboration arrangemen...
Keymed Biosciences, Inc. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
63
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 822.48M | 697.77M | 428.12M | 354.10M | 100.06M | 110.27M |
| Gross Profit | 561.29M | 516.51M | 415.92M | 317.22M | 97.48M | 93.07M |
| EBITDA | -523.40M | -489.36M | -574.46M | -269.77M | -259.25M | -3.86B |
| Net Income | 764.25M | -509.11M | -515.24M | -359.36M | -308.12M | -3.90B |
Balance Sheet | ||||||
| Total Assets | 5.67B | 4.22B | 3.77B | 3.88B | 3.93B | 3.93B |
| Cash, Cash Equivalents and Short-Term Investments | 3.24B | 1.96B | 2.16B | 2.72B | 3.18B | 3.52B |
| Total Debt | 696.57M | 788.88M | 753.24M | 418.71M | 121.97M | 39.26M |
| Total Liabilities | 1.66B | 1.44B | 1.29B | 896.11M | 593.10M | 289.07M |
| Stockholders Equity | 4.00B | 2.78B | 2.47B | 2.99B | 3.34B | 3.65B |
Cash Flow | ||||||
| Free Cash Flow | -552.97M | -1.05B | -1.00B | -686.23M | -681.48M | -387.50M |
| Operating Cash Flow | -368.93M | -712.41M | -789.63M | -303.62M | -401.93M | -214.64M |
| Investing Cash Flow | 189.46M | 39.08M | 67.71M | 468.20M | -645.59M | -2.04B |
| Financing Cash Flow | -71.03M | 788.72M | 283.90M | 72.13M | -8.06M | 3.64B |
Keymed Biosciences, Inc. Technical Analysis
Negative
62.80
Price Trends
80.11
Negative
72.93
Positive
65.26
Positive
Market Momentum
-0.05
Positive
45.43
Neutral
48.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2162, the sentiment is Negative. The current price of 62.8 is below the 20-day moving average (MA) of 78.41, below the 50-day MA of 80.11, and below the 200-day MA of 65.26, indicating a neutral trend. The MACD of -0.05 indicates Positive momentum. The RSI at 45.43 is Neutral, neither overbought nor oversold. The STOCH value of 48.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2162.
Keymed Biosciences, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | HK$21.64B | 22.56 | 12.35% | ― | 117.39% | ― | |
55 Neutral | HK$21.45B | 22.64 | 22.54% | ― | 0.08% | ― | |
52 Neutral | HK$22.71B | -13.73 | -27.40% | ― | 5.38% | 16.86% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | HK$9.70B | -19.27 | -43.54% | ― | 116.67% | -0.42% | |
46 Neutral | HK$8.23B | -41.48 | -10.27% | ― | -31.77% | -177.01% | |
45 Neutral | HK$12.67B | -7.18 | -153.78% | ― | 70.26% | -12.79% |
* Healthcare Sector Average
HK:2162
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-57.94%
Keymed Biosciences, Inc. Corporate Events
Keymed Biosciences announces orderly resignation of non-executive director
Sep 6, 2026
Keymed Biosciences has announced that non-executive director Dr. Min Chuan Wang will resign from the board with effect from September 4, 2026, so he can focus on other business commitments. Dr. Wang indicated he has no disagreement with the board ...
Keymed Biosciences updates board and committee structure
Sep 6, 2026
Keymed Biosciences has disclosed the current composition of its board of directors, listing three executive directors, two non-executive directors and three independent non-executive directors. The company also detailed the membership and chairman...
Keymed Biosciences Signs Regional Licensing Deal for Stapokibart
Sep 2, 2026
Keymed Biosciences has signed an exclusive licensing agreement with multinational pharmaceutical company Aeira Pte. Ltd. to handle marketing registration and commercialization of its IL-4Rα-targeted monoclonal antibody Stapokibart injection i...
Keymed Biosciences Turns Profitable on Surging Drug Sales and BD Windfall
Aug 19, 2026
Keymed Biosciences reported strong interim results for the six months ended 30 June 2026, with revenue rising 24% year over year to RMB617 million, driven by a 132% surge in product sales following medical insurance coverage and enhanced in-house ...
Keymed Biosciences Plans RMB Share Issue for Shanghai Sci-Tech Board Listing
Aug 19, 2026
Keymed Biosciences Inc. plans to broaden its capital-market footprint by proposing an issuance of ordinary shares denominated in renminbi for listing and trading on the Science and Technology Innovation Board of the Shanghai Stock Exchange. The mo...
Keymed’s CM512 Hits Phase II Targets and Wins Breakthrough Status for Nasal Polyp Treatment
Aug 10, 2026
Keymed Biosciences reported that its Phase II clinical trial of CM512 injection for chronic rhinosinusitis with nasal polyps in China met all efficacy and safety endpoints across tested dosing regimens. The bispecific antibody showed rapid and sus...
Keymed Biosciences Sets Board Meeting to Approve 2026 Interim Results and Consider Dividend
Aug 7, 2026
Keymed Biosciences Inc. has scheduled a board meeting for August 19, 2026 to review and approve the interim results for the six months ended June 30, 2026, and to authorize their publication. The board will also consider the possible declaration o...
Keymed’s CLDN18.2 Drug CMG901 Delivers Phase III Survival Gain in Gastric Cancer
Jul 28, 2026
Keymed Biosciences reported that CMG901, also known as sonesitatug vedotin or AZD0901, achieved statistically significant and clinically meaningful overall survival benefits in the global Phase III CLARITY-Gastric01 trial. The study, run across 17...
Keymed’s CM512 Wins China Breakthrough Status, Advances in Multiple Phase II Trials
Jul 23, 2026
Keymed Biosciences said its lead research candidate CM512, a bispecific antibody targeting TSLP and IL-13, has been added to the Breakthrough Therapy Designation list by China’s Center for Drug Evaluation for treating chronic rhinosinusitis ...
Keymed Biosciences Swings to Profit on Kangyueda Surge and Licensing Windfall
Jul 15, 2026
Keymed Biosciences reported strong revenue growth from Kangyueda in the first half of 2026, with sales exceeding RMB390 million, up more than 132% year-on-year. The drug’s three approved indications and both vial and pre-filled autoinjector ...
Keymed Biosciences Shareholders Approve All AGM Resolutions, Renew Capital Mandates
Jun 26, 2026
Keymed Biosciences reported that all resolutions at its 26 June annual general meeting in Chengdu were approved by shareholders via poll vote. Investors adopted the 2025 audited financial statements, re-elected three directors, confirmed director ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.