Caliway Biopharmaceuticals Co Ltd (6919) AI Stock Analysis

Caliway Biopharmaceuticals Co Ltd

(TWSE:6919)

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Rating:38Underperform

Price Target:TWD 60.00▼(-14.29% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is driven primarily by severe profitability weakness and persistent cash burn, compounded by bearish technical trends and an unfavorable negative P/E ratio. The low-debt balance sheet and near-oversold momentum provide limited support.

Positive Factors

Low Recent LeverageVery low recent leverage reduces the company’s near-term exposure to interest costs, refinancing pressure, and debt covenant constraints. This gives management greater flexibility to direct available resources toward therapeutic development, although it does not offset the need to fund ongoing losses.

Negative Factors

Persistent Deep LossesRecurring operating and net losses show that the current business has not yet achieved economic self-sufficiency. Even with year-over-year improvement, losses remain large relative to revenue, limiting internal reinvestment capacity and increasing dependence on successful future development or financing outcomes.

Caliway Biopharmaceuticals Co Ltd (6919) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 109.72B
Dividend Yield: ―
Average Volume (3M): 7.20M
Price to Earnings (P/E): -174.9
Beta (1Y): 0.64
Revenue Growth: -54.34%
EPS Growth: -24.43%
Country: TW
Employees: 20
Sector: General
Sector Strength: 55
Industry: Biotechnology

Caliway Biopharmaceuticals Co Ltd Business Overview & Revenue Model

Company Description

Caliway Biopharmaceuticals Co., Ltd., and its affiliated entities, is dedicated to developing pharmaceuticals primarily in the fields of aesthetic medicine and chronic inflammation. Its lead investigational drug, CBL-514, is currently undergoing Phas...

Caliway Biopharmaceuticals Co Ltd Financial Statement Overview

Summary

Severe operating losses and persistent negative operating and free cash flow outweigh the low-debt balance sheet and strong gross margin. The underlying financial metrics warrant a score below the permitted minimum, so the score is set at the floor of 37.

Income Statement

18Very Negative

Balance Sheet

55Neutral

Cash Flow

12Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	29.36M	37.98M	44.36M	38.88M	12.83M	12.32M
Gross Profit	-10.40M	26.48M	1.25M	27.44M	-15.74M	9.22M
EBITDA	-799.61M	-675.43M	-686.45M	-484.97M	-294.49M	-207.15M
Net Income	-257.93M	-351.35M	-587.85M	-487.85M	-286.33M	-224.00M
Balance Sheet
Total Assets	9.43B	301.89M	9.77B	3.83B	1.23B	711.96M
Cash, Cash Equivalents and Short-Term Investments	4.05B	154.87M	9.67B	3.71B	1.11B	594.12M
Total Debt	107.95M	95.53K	11.87M	20.46M	28.68M	36.73M
Total Liabilities	223.88M	2.03M	73.69M	85.55M	68.82M	68.15M
Stockholders Equity	9.21B	299.86M	9.70B	3.74B	1.16B	643.81M
Cash Flow
Free Cash Flow	-300.88M	-443.04M	-533.40M	-433.62M	-256.93M	-125.43M
Operating Cash Flow	-280.99M	-425.90M	-522.31M	-423.94M	-242.76M	-110.55M
Investing Cash Flow	-4.17B	-5.62B	-2.49B	157.09M	-470.54M	-14.88M
Financing Cash Flow	-107.83M	-119.11M	6.49B	3.03B	771.72M	625.98M

Caliway Biopharmaceuticals Co Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6919 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6472	60Neutral	TWD 50.12B	32.71	―	2.48%	-5.57%	-62.77%
TW:1795	57Neutral	TWD 44.28B	10.79	―	1.64%	48.98%	-21.95%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6919	38Underperform	TWD 109.78B	-174.87	―	―	-54.34%	-24.43%
TW:6949	33Underperform	TWD 54.47B	-138.20	―	―	7.81%	―

* General Sector Average

Performance Comparison

TW:6919 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6919	Caliway Biopharmaceuticals Co Ltd	70.00	-57.00	-44.88%
TW:1795	Lotus Pharmaceutical Co., Ltd.	156.00	-123.55	-44.20%
TW:6472	Bora Pharmaceuticals Co Ltd	403.00	-209.62	-34.22%
TW:6696	Lin BioScience, Inc.	166.50	138.55	495.71%
TW:6949	PELL Bio-Med Technology Co Ltd	44.75	25.91	137.55%
TW:7924	TLC BioSciences Corp	402.50	192.00	91.21%

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

Caliway Biopharmaceuticals Co Ltd AI Stock Analysis