GlycoNex, Inc. (4168) AI Stock Analysis

GlycoNex, Inc.

(TPEx:4168)

Select Model

Rating:39Underperform

Price Target:TWD 19.00▼(-9.09% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by severe losses and persistent cash burn, while bearish technical positioning and an unhelpful negative P/E further weaken the outlook. A relatively well-capitalized balance sheet and oversold momentum indicators provide limited offsets.

Positive Factors

Revenue ExpansionThe sharp increase in revenue indicates meaningful commercial expansion and growing adoption of the company’s offerings. If this trajectory continues, a larger revenue base could improve operating leverage, support platform investment, and create a stronger foundation for eventual profitability.

Negative Factors

Severe Operating LossesExtremely negative operating and net margins show that the current cost structure is far from sustainable despite revenue growth and better gross margin. Continued losses could consume capital, limit strategic flexibility, and delay the point at which the business can fund itself through operations.

GlycoNex, Inc. (4168) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 2.27B
Dividend Yield: ―
Average Volume (3M): 89.93K
Price to Earnings (P/E): -8.6
Beta (1Y): 0.39
Revenue Growth: -36.49%
EPS Growth: -29.76%
Country: TW
Employees: 25
Sector: General
Sector Strength: 55
Industry: Biotechnology

GlycoNex, Inc. Business Overview & Revenue Model

Company Description

GlycoNex Incorporation, based in New Taipei City, Taiwan, specializes in developing innovative cancer therapeutics. The company achieves this by leveraging advanced glycosphingolipid antigen and human monoclonal antibody technologies. Its robust pipe...

GlycoNex, Inc. Financial Statement Overview

Summary

Strong revenue growth and a substantial asset base are outweighed by extremely large net and operating losses, negative operating and free cash flow, rising debt, and declining equity.

Income Statement

20Very Negative

Balance Sheet

62Positive

Cash Flow

15Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	22.21M	37.86M	14.70M	2.54M	30.09M	5.47M
Gross Profit	-8.72M	23.51M	7.32M	995.00K	13.97M	3.46M
EBITDA	-259.70M	-214.39M	-189.60M	-126.83M	-175.51M	-132.36M
Net Income	-270.39M	-235.23M	-229.71M	-178.36M	-219.82M	-172.49M
Balance Sheet
Total Assets	1.39B	1.55B	1.32B	1.55B	1.72B	1.40B
Cash, Cash Equivalents and Short-Term Investments	567.78M	693.27M	442.11M	699.77M	678.77M	331.59M
Total Debt	480.20M	474.46M	900.00K	900.00K	224.58M	900.00K
Total Liabilities	540.60M	571.88M	270.01M	276.40M	271.34M	36.07M
Stockholders Equity	850.74M	982.35M	1.05B	1.28B	1.45B	1.36B
Cash Flow
Free Cash Flow	-203.06M	-172.86M	-257.24M	-207.34M	-176.24M	-147.70M
Operating Cash Flow	-197.85M	-166.29M	-221.97M	-183.92M	-167.55M	-140.86M
Investing Cash Flow	83.05M	98.72M	182.00M	257.93M	-399.57M	113.22M
Financing Cash Flow	426.20M	425.72M	12.00K	-6.72M	524.24M	-27.00K

GlycoNex, Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4168 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:8279	69Neutral	TWD 2.21B	10.69	―	6.18%	-3.92%	-29.93%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4168	39Underperform	TWD 2.38B	-8.56	―	―	-36.49%	-29.76%

* General Sector Average

Performance Comparison

TW:4168 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4168	GlycoNex, Inc.	20.90	-1.30	-5.86%
TW:6892	Taiwan Bio Therapeutics Co., Ltd.	26.00	-3.70	-12.46%
TW:6932	Merdury Biopharmaceutical Corporation	5.23	-5.02	-48.98%
TW:7731	MARX Biotech Co., Ltd.	4.26	-1.08	-20.21%
TW:7860	Teh Seng Pharmaceutical Mfg Co Ltd	77.80	5.13	7.07%
TW:8279	Syngen Biotech Co., Ltd.	80.90	-43.20	-34.81%

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.

Date of analysis: Nov 09, 2026

GlycoNex, Inc. AI Stock Analysis