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iX Biopharma Ltd. (42C) AI Stock Analysis
iX Biopharma Ltd.
(SGX:42C)
The score is held back primarily by weak financial performance—persistent losses and ongoing negative operating/free cash flow—despite improved revenue growth and gross margin and a healthier-looking 2026 balance sheet. Technicals are a meaningful positive with strong trend and bullish momentum, but valuation remains pressured by negative earnings and no dividend yield data.
iX Biopharma Ltd. (42C) vs. iShares MSCI Singapore ETF (EWS)
- Market Cap
- SGD 558.96M
- Dividend Yield
- ―
- Average Volume (3M)
- 16.77M
- Price to Earnings (P/E)
- -61.4
- Beta (1Y)
- -0.07
- Revenue Growth
- 3.27%
- EPS Growth
- 43.59%
- Country
- Singapore
- Employees
- 37
- Sector
- Healthcare
- Sector Strength
- 51
- Industry
- Drug Manufacturers - Specialty & Generic
iX Biopharma Ltd. Business Overview & Revenue Model
Company Description
iX Biopharma Ltd., a specialty pharmaceutical and nutraceutical enterprise headquartered in Singapore since its inception in 2004, focuses on the research, development, manufacturing, and commercialization of therapeutic solutions. The company target...
How the Company Makes Money
iX Biopharma primarily makes money through the commercialisation of pharmaceutical products and the monetisation of its drug-delivery platform. Key revenue streams include: (1) Product sales: revenue generated from selling iX Biopharma’s pharmaceutic...
iX Biopharma Ltd. Financial Statement Overview
Summary
Revenue rebounded in 2026 (~21% YoY) and gross margin improved materially (~36% vs ~26% in 2025), but profitability remains the key weakness with persistent net losses and deeply negative operating metrics. Cash flow quality is poor with negative operating cash flow and negative free cash flow across 2023–2026, indicating ongoing cash burn. Balance sheet leverage appears more manageable in 2026 (debt-to-equity ~0.38) versus the stressed 2025 profile, but losses continue to pressure overall financial strength.
Income Statement
24NegativeBalance Sheet
52NeutralCash Flow
28Negative| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.85M | 6.85M | 7.77M | 5.96M | 5.91M | 14.39M |
| Gross Profit | 2.43M | 2.43M | 2.04M | 1.05M | 2.32M | 12.29M |
| EBITDA | -9.20M | -8.83M | -8.96M | -8.68M | -8.51M | -2.84M |
| Net Income | -7.99M | -7.99M | -10.14M | -10.79M | -9.62M | -4.60M |
Balance Sheet | ||||||
| Total Assets | 25.88M | 25.88M | 11.28M | 14.62M | 24.93M | 28.52M |
| Cash, Cash Equivalents and Short-Term Investments | 14.73M | 14.73M | 866.00K | 1.77M | 6.52M | 13.49M |
| Total Debt | 5.80M | 5.80M | 5.90M | 5.20M | 4.34M | 4.41M |
| Total Liabilities | 10.48M | 10.48M | 10.92M | 10.28M | 9.08M | 8.77M |
| Stockholders Equity | 15.40M | 15.40M | 365.00K | 4.34M | 15.85M | 19.74M |
Cash Flow | ||||||
| Free Cash Flow | -5.68M | -8.07M | -3.96M | -6.84M | -8.36M | 2.92M |
| Operating Cash Flow | -5.57M | -7.96M | -3.76M | -6.55M | -7.66M | 3.12M |
| Investing Cash Flow | -114.00K | -117.00K | -201.00K | 1.06M | -695.00K | -5.62M |
| Financing Cash Flow | 14.64M | 21.93M | 3.12M | 724.00K | 1.42M | 9.79M |
iX Biopharma Ltd. Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:42C, the sentiment is Positive. The current price of 0.51 is above the 20-day moving average (MA) of 0.51, below the 50-day MA of 0.51, and above the 200-day MA of 0.37, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 50.98 is Neutral, neither overbought nor oversold. The STOCH value of 59.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:42C.
iX Biopharma Ltd. Peers Comparison
Overall Rating
- SG:42C53Neutral
SG:P8A42Neutral
SG:8YY40Underperform
SG:9G238Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| SG:42C | 53Neutral | SGD 558.96M | -61.45 | -81.85% | ― | 3.27% | 43.59% |
| Sector * | 51Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
| SG:P8A | 42Neutral | SGD 23.23M | -2.18 | -10.28% | ― | ― | ― |
| SG:8YY | 40Underperform | SGD 41.60M | -12.63 | -181.49% | ― | ― | ― |
| SG:9G2 | 38Underperform | SGD 39.65M | -0.72 | -73.80% | ― | -1.27% | 16.67% |
* Healthcare Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| SG:42C | iX Biopharma Ltd. | 0.51 | 0.40 | 355.36% | |
| SG:P8A | Cordlife Group | 0.09 | -0.07 | -43.13% | |
| SG:1J5 | Hyphens Pharma International Ltd. | 0.36 | 0.02 | 4.65% | |
| SG:546 | Medtecs International Corporation Ltd. | 0.10 | -0.02 | -18.40% | |
| SG:8YY | Biolidics Ltd. | 0.02 | 0.00 | 4.35% | |
| SG:9G2 | Singapore Institute of Advanced Medicine Holdings Ltd. | 0.02 | -0.01 | -28.13% |
iX Biopharma Ltd. Corporate Events
iX Biopharma details Wafermine milestones and U.S. compounding push ahead of AGM
iX Biopharma has outlined near-term development plans for Wafermine, its sublingual ketamine wafer for acute pain, funded under a U.S. Department of Defense contract. Over the next 12 months, the company expects to complete Phase 3 enabling studies,...
iX Biopharma Secures SGX Nod for Debt-for-Equity Share Listing
iX Biopharma has entered into a debt capitalisation agreement with an individual creditor, under which up to 2,682,779 new shares will be issued on the Catalist board of the Singapore Exchange in exchange for outstanding debt. The Singapore Exchange...
iX Biopharma Moves to Convert A$1.7 Million Debt Into Equity
iX Biopharma Ltd. has agreed with Australian businessman and existing shareholder Lee Vincent Seng Yong to convert A$1.7 million of debt, owed under a loan originally extended to its subsidiary iX Syrinx Pty Ltd., into equity in the Singapore-listed...
iX Biopharma Rides DoD-Backed Wafermine Push and U.S. Expansion Strategy
iX Biopharma has seen a sharp rerating in its market value, driven by a succession of milestones including a US$41 million U.S. Department of Defense contract to fund Phase 3 studies and an emergency use authorization pathway for Wafermine, its subli...
iX Biopharma Advances Wafermine as U.S. Opens Rare Military Emergency Use Pathway
iX Biopharma Ltd. has secured a major regulatory tailwind for its sublingual ketamine wafer, Wafermine, after the U.S. Government opened an emergency use pathway for drugs treating moderate-to-severe acute pain in military casualties. This follows th...
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.
Date of analysis: Sep 10, 2026