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Antengene Corporation Limited
(6996)
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Rating:48Neutral
Price Target:
HK$3.50
▼(-33.59% Downside)
Action:Reiterated
Date:07/04/26
The score is primarily held back by weak financial fundamentals—continued large losses and negative free cash flow—despite improving revenue growth and reduced cash burn. Technical signals are mixed/neutral with elevated volatility, and valuation is constrained by negative earnings and the absence of a dividend.
Positive Factors
Improving Revenue Growth
The return to meaningful revenue growth indicates improving commercial traction for a clinical-stage oncology business. If sustained, broader product adoption and expanding approvals or partnerships could provide a stronger base for absorbing fixed R&D costs and progressing toward scale.
Negative Factors
Persistent Unprofitability
Antengene has not yet reached the earnings scale needed to support sustainable profitability. Continued operating and net losses can require additional funding, constrain investment choices, and make financial performance highly dependent on successful clinical progress, approvals, and commercialization.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Revenue Growth
The return to meaningful revenue growth indicates improving commercial traction for a clinical-stage oncology business. If sustained, broader product adoption and expanding approvals or partnerships could provide a stronger base for absorbing fixed R&D costs and progressing toward scale.
Read all positive factors
Antengene Corporation Limited (6996) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.19B
Dividend YieldN/A
Average Volume (3M)1.42M
Price to Earnings (P/E)35.6
Beta (1Y)2.22
Revenue Growth605.95%
EPS GrowthN/A
CountryHK
Employees122
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.38
Shares Outstanding679,446,660
10 Day Avg. Volume1,143,365
30 Day Avg. Volume1,421,716
Financial Highlights & Ratios
PEG Ratio0.35
Price to Book (P/B)3.32
Price to Sales (P/S)20.24
P/FCF Ratio-11.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$10.60Price Target Upside101.14% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.46
Revenue Forecast (FY)HK$810.27M
Antengene Corporation Limited Business Overview & Revenue Model
Company Description
Antengene Corporation Limited, a biopharmaceutical firm, is dedicated to developing advanced oncology treatments primarily within the Chinese market. Its active clinical development pipeline includes several innovative compounds. Among these, ATG-...
How the Company Makes Money
Antengene’s revenue model is primarily driven by (1) commercialization of approved products in markets where it has launched or obtained marketing authorizations, and (2) collaboration and out-licensing arrangements related to its drug candidates....
Antengene Corporation Limited Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
58
Neutral
Cash Flow
36
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 105.34M | 91.95M | 67.31M | 160.13M | 28.77M |
| Gross Profit | 86.83M | 74.17M | 55.01M | 132.00M | 24.19M |
| EBITDA | -221.25M | -348.82M | -550.31M | -866.06M | -614.32M |
| Net Income | -239.13M | -319.25M | -581.18M | -601.49M | -655.53M |
Balance Sheet | |||||
| Total Assets | 1.26B | 1.34B | 1.62B | 2.14B | 2.56B |
| Cash, Cash Equivalents and Short-Term Investments | 734.29M | 900.24M | 1.19B | 1.79B | 2.37B |
| Total Debt | 257.51M | 249.44M | 201.02M | 57.95M | 14.81M |
| Total Liabilities | 614.86M | 493.93M | 471.20M | 428.84M | 163.29M |
| Stockholders Equity | 642.70M | 850.80M | 1.15B | 1.71B | 2.39B |
Cash Flow | |||||
| Free Cash Flow | -178.86M | -382.57M | -778.87M | -665.56M | -581.04M |
| Operating Cash Flow | -127.51M | -321.96M | -665.77M | -572.18M | -557.65M |
| Investing Cash Flow | 116.16M | 345.24M | 587.07M | -208.16M | -103.88M |
| Financing Cash Flow | -3.19M | 45.17M | 131.84M | -20.73M | -81.29M |
Antengene Corporation Limited Technical Analysis
Negative
5.27
Price Trends
4.00
Negative
4.14
Negative
4.15
Negative
Market Momentum
-0.18
Positive
31.73
Neutral
18.14
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6996, the sentiment is Negative. The current price of 5.27 is above the 20-day moving average (MA) of 3.73, above the 50-day MA of 4.00, and above the 200-day MA of 4.15, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 31.73 is Neutral, neither overbought nor oversold. The STOCH value of 18.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6996.
Antengene Corporation Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | HK$164.53B | 112.83 | 6.06% | ― | 42.64% | 9.67% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | HK$2.19B | 35.65 | 6.51% | ― | 605.95% | ― | |
47 Neutral | HK$9.57B | -18.29 | -43.54% | ― | 116.67% | -0.42% | |
46 Neutral | HK$8.12B | -39.59 | -10.27% | ― | -31.77% | -177.01% | |
46 Neutral | HK$32.77B | -72.62 | -7.32% | ― | 34.83% | 58.94% | |
45 Neutral | HK$12.09B | -6.89 | -153.78% | ― | 70.26% | -12.79% |
* Healthcare Sector Average
HK:6996
Antengene Corporation Limited
3.34
-3.74
-52.82%
HK:1801
Innovent Biologics
93.55
-2.05
-2.14%
HK:9966
Alphamab Oncology
7.97
-4.33
-35.20%
HK:1877
Shanghai Junshi Biosciences Co., Ltd. Class H
16.60
-16.30
-49.54%
HK:2616
CStone Pharmaceuticals
5.79
-4.56
-44.11%
HK:6855
Ascentage Pharma Group International
31.38
-44.77
-58.79%
Antengene Corporation Limited Corporate Events
Antengene Grants 11.52 Million RSUs Under 2022 Incentive Scheme
Sep 10, 2026
Antengene Corporation Limited has granted 11,520,000 restricted share units under its 2022 RSU Scheme to 75 eligible participants, including employees, senior management, executive directors and independent non-executive directors. The RSUs, with ...
Antengene Wins Australian Approval to Begin Phase I Trial of Autoimmune Drug ATG-201
Aug 24, 2026
Antengene Corporation Limited has secured Human Research Ethics Committee approval in Australia and completed the Clinical Trial Notification process with the Therapeutic Goods Administration for its Phase I ATTRACT study. The trial will evaluate ...
Antengene Swings to Interim Profit on Licensing-Driven Revenue Surge
Aug 21, 2026
Antengene Corporation Limited reported a sharp turnaround in its interim results for the six months ended June 30, 2026, driven by a surge in revenue from licensing and collaboration deals. Revenue jumped to RMB513.1 million from RMB53.2 million a...
Antengene Sets Board Meeting to Approve 2026 Interim Results
Aug 10, 2026
Antengene Corporation Limited has scheduled a board meeting for August 21, 2026 to review and approve the interim results for the six months ended June 30, 2026 and to authorize their publication. The announcement signals upcoming disclosure of th...
Antengene Updates Board Composition and Committee Roles
Aug 3, 2026
Antengene Corporation Limited announced the current composition of its board of directors, led by Chairman and Chief Executive Officer Dr. Jay Mei and executive director Dr. Bing Hou, alongside three independent non-executive directors. The compan...
Antengene Reshapes Leadership Team With CFO Exit and New Executive Appointments
Jul 31, 2026
Antengene Corporation Limited announced the resignation of executive director and chief financial officer Donald Andrew Lung, effective August 1, 2026, as he leaves to pursue other career opportunities, with the board stressing there is no disagre...
Antengene Signals Major Interim Profit on Oncology Licensing Deals
Jul 27, 2026
Antengene has issued a positive profit alert for the six months ended June 30, 2026, signaling a sharp improvement in financial performance driven by recent licensing deals. The board expects revenue to rise to between RMB490 million and RMB536 mi...
Antengene Secures USD60 Million Upfront from UCB for ATG-201 License
Jul 13, 2026
Antengene Corporation Limited announced it has received a USD60 million upfront payment from UCB under a worldwide exclusive license agreement for ATG-201, a CD19/CD3 bispecific T-cell engager antibody. The deal underscores Antengene’s role ...
Antengene Launches HK$50 Million Share Buyback Plan
Jun 24, 2026
Antengene Corporation Limited has announced a plan to repurchase up to 67,924,413 of its shares, equivalent to 10% of its issued share capital, under a general mandate approved by shareholders at its June 10, 2026 annual general meeting. The board...
Antengene Out-Licenses ATG-106 to K2 Therapeutics in Potential US$1.9 Billion TCE Deal
Jun 22, 2026
Antengene has entered into an exclusive, sublicensable license agreement with a K2 Therapeutics-backed company for ATG-106, a CDH6 x CD3 bispecific T cell engager in development for solid tumors, while granting K2 an option on an additional undisc...
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.