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Adagene Inc. (ADAG) 10-Year Financial Performance & Capital Metrics

ADAG • • Industrial / General
HealthcareBiotechnologyOncology TherapeuticsImmuno-Oncology
AboutAdagene Inc., a clinical stage biopharmaceutical company, engages in the research, development, and production of monoclonal antibody drugs for cancers. The company's product candidates include ADG106, a human ligand-blocking agonistic anti-CD137 monoclonal antibodies (mAbs) that is in Phase 1b/2 clinical trials for the treatment advanced solid tumors and non-Hodgkin's lymphoma; ADG126, a fully-human anti-CTLA-4 mAb that is in Phase 1 clinical trial for the treatment advanced/metastatic solid tumors; and ADG116, a human ligand-blocking anti-CTLA-4 mAb, which is in Phase I clinical trial for the treatment of advanced metastatic solid tumors. It also offers ADG104, an anti-PD-L1 mAb that is in Phase 2 clinical development; ADG125, a novel anti-CSF-1R mAb, which is in Phase I clinical trial; ADG206, a masked, Fc engineered anti-CD137 agonistic POWERbody, which is in preclinical; ADG153, a masked anti-CD47 IgG1 SAFEbody, which is in preclinical stage for the treatment hematologic and solid tumors; ADG138, novel HER2xCD3 POWERbody, which is in preclinical for the treatment HER2-expressing solid tumors; and ADG152, a CD20xCD3 POWERbody, which is in preclinical stage for the treatment off-tumor toxicities. The company was incorporated in 2011 and is headquartered in Suzhou, China.Show more
  • Revenue $103K -99.4%
  • EBITDA -$35M -55.6%
  • Net Income -$33M -76.4%
  • EPS (Diluted) -0.95 -75.9%
  • Gross Margin -797.49% -897.5%
  • EBITDA Margin -33937.92% -27204.7%
  • Operating Margin -34835.42% -26498.9%
  • Net Margin -32386.45% -30859.3%
  • ROE -55.21% -123.9%
  • ROIC -
  • Debt/Equity 0.37 +15.8%
  • Interest Coverage -42.20 -97.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Trading at only 1.4x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 1/9
  • ✗Negative free cash flow
  • ✗Sales declining 26.5% over 5 years
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-26.47%
3Y-78.35%
TTM-99.43%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-192.62%

EPS CAGR

10Y-
5Y-
3Y-
TTM-188.43%

ROCE

10Y Avg-42.46%
5Y Avg-46.21%
3Y Avg-48.18%
Latest-53.12%

Peer Comparison

Immuno-Oncology
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Sector-Specific
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IMTXImmatics N.V.1.33B9.9270.86188.6%-136.72%-27.81%0.03
CTMXCytomX Therapeutics, Inc.720.1M4.2511.1836.45%24.66%26.09%
IOVAIovance Biotherapeutics, Inc.881.27M2.22-1.73136.99%-158.78%-56.62%0.08
REPLReplimune Group, Inc.572.64M7.30-2.38-117.82%0.18
NKTRNektar Therapeutics719.28M35.36-4.079.22%-192.87%-141.9%1.69
IMNMImmunome, Inc.2.52B22.85-4.57-35.5%-23.01%-84.4%0.03
IBRXImmunityBio, Inc.3.89B3.95-6.3722.71%-422.28%
NRIXNurix Therapeutics, Inc.1.91B18.86-6.55-29.15%-292.5%-65.76%0.05

Profit & Loss

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+1.51M480K480K10.18M9.29M18.11M103.2K
Revenue Growth %--0.68%0%20.2%-0.09%0.95%-0.99%
Cost of Goods Sold+0000000
COGS % of Revenue-------
Gross Profit+1.51M480K480K10.18M9.29M18.11M-823.04K
Gross Margin %1%1%1%1%1%1%-7.97%
Gross Profit Growth %--0.68%0%20.2%-0.09%0.95%-1.05%
Operating Expenses+18.85M19.65M19.65M82.54M93.21M41.83M36.05M
OpEx % of Revenue12.47%40.94%40.94%8.11%10.03%2.31%349.35%
Selling, General & Admin2.77M3.44M3.44M14.44M11.87M8.67M7.27M
SG&A % of Revenue1.83%7.16%7.16%1.42%1.28%0.48%70.48%
Research & Development16.08M16.21M16.21M68.1M81.34M36.64M28.78M
R&D % of Revenue10.64%33.77%33.77%6.69%8.75%2.02%278.88%
Other Operating Expenses00000-3.48M0
Operating Income+-17.33M-19.17M-19.17M-72.36M-83.92M-23.72M-35.95M
Operating Margin %-11.47%-39.94%-39.94%-7.11%-9.03%-1.31%-348.35%
Operating Income Growth %--0.11%0%-2.77%-0.16%0.72%-0.52%
EBITDA+-16.43M-18.35M-18.31M-71.24M-82.49M-22.51M-35.03M
EBITDA Margin %-10.87%-38.24%-38.15%-7%-8.88%-1.24%-339.38%
EBITDA Growth %--0.12%0%-2.89%-0.16%0.73%-0.56%
D&A (Non-Cash Add-back)909K816.69K858.41K1.13M1.43M1.21M926.25K
EBIT-15.18M-16.29M-42.2M-71.11M-78.82M-16.15M-32.59M
Net Interest Income+619.63K784.58K427.12K-287.6K-315.82K3.18M2.95M
Interest Income710.71K922.68K629.29K76.17K377.5K4.28M3.8M
Interest Expense91.08K138.1K202.16K363.76K693.32K1.11M851.87K
Other Income/Expense2.07M2.74M754.38K887.77K4.41M6.46M2.51M
Pretax Income+-15.27M-16.43M-16.43M-71.48M-79.51M-17.25M-33.44M
Pretax Margin %-10.1%-34.23%-34.23%-7.02%-8.56%-0.95%-324.03%
Income Tax+-547K03.16K1.7M459.06K1.69M-17.55K
Effective Tax Rate %0.96%1.05%1%1.02%1.01%1.1%1%
Net Income+-14.72M-17.29M-16.44M-73.18M-79.97M-18.95M-33.42M
Net Margin %-9.74%-36.03%-34.24%-7.19%-8.61%-1.05%-323.86%
Net Income Growth %--0.17%0.05%-3.45%-0.09%0.76%-0.76%
Net Income (Continuing)-15.27M-16.43M-42.4M-73.18M-79.97M-18.95M-33.42M
Discontinued Operations0000000
Minority Interest0000000
EPS (Diluted)+-1.51-0.49-0.59-2.29-2.31-0.54-0.95
EPS Growth %-0.68%-0.2%-2.88%-0.01%0.77%-0.76%
EPS (Basic)-1.51-0.49-0.59-2.29-2.31-0.55-0.95
Diluted Shares Outstanding9.7M35.33M28.07M32.02M34.65M35.03M36.02M
Basic Shares Outstanding9.7M35.33M28.07M32.02M34.65M34.64M36.02M
Dividend Payout Ratio-------

Balance Sheet

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+51.82M103.92M79.1M185.95M149.32M113.44M87.78M
Cash & Short-Term Investments49.06M100.53M75.15M174.39M143.76M109.93M85.19M
Cash Only16.06M92.53M75.15M174.39M143.76M109.93M85.19M
Short-Term Investments33M8M00000
Accounts Receivable1.43M2.14M132.4K7.51M619.43K222.03K8.31K
Days Sales Outstanding345.441.63K100.68269.2724.334.4729.39
Inventory0000000
Days Inventory Outstanding-------
Other Current Assets0002.49M3.78M2.7M527.71K
Total Non-Current Assets+2.6M1.97M5.17M3.56M3.08M2.29M1.51M
Property, Plant & Equipment2.55M1.88M2.07M3.49M2.97M2.2M1.41M
Fixed Asset Turnover0.59x0.26x0.23x2.92x3.12x8.23x0.07x
Goodwill0000000
Intangible Assets0000000
Long-Term Investments197.07K197.07K7.17M0000
Other Non-Current Assets-147.88K-109.84K-4.07M69.28K109.57K84.89K103.5K
Total Assets+54.42M105.89M84.26M189.51M152.4M115.73M89.27M
Asset Turnover0.03x0.00x0.01x0.05x0.06x0.16x0.00x
Asset Growth %-0.95%-0.2%1.25%-0.2%-0.24%-0.23%
Total Current Liabilities+10.35M7.18M16.15M29.82M55.08M31.46M38.18M
Accounts Payable558.98K712.71K1.81M3.32M3.67M3.09M4.24M
Days Payables Outstanding-------
Short-Term Debt2.33M1.04M5.02M4.5M13.62M8.4M17.79M
Deferred Revenue (Current)32.98K993.38K725.54K1000K1000K52.88K0
Other Current Liabilities1.41M2.07M6.2M11.62M21.43M18.54M56.27K
Current Ratio5.01x14.47x4.90x6.24x2.71x3.61x2.30x
Quick Ratio5.01x14.47x4.90x6.24x2.71x3.61x2.30x
Cash Conversion Cycle-------
Total Non-Current Liabilities+85.1M155.72M157.51M3.13M14.23M13.71M559.64K
Long-Term Debt01.52M2.97M2.99M14.15M13.54M417.34K
Capital Lease Obligations000053.83K173.66K142.3K
Deferred Tax Liabilities00044.16K000
Other Non-Current Liabilities85.1M154.2M154.54M94.11K28.72K00
Total Liabilities95.44M162.9M173.65M32.95M69.31M45.17M38.74M
Total Debt+2.33M2.56M7.98M7.49M27.97M22.31M18.49M
Net Debt-13.73M-89.98M-67.17M-166.9M-115.79M-87.63M-66.7M
Debt / Equity---0.05x0.34x0.32x0.37x
Debt / EBITDA-------
Net Debt / EBITDA-------
Interest Coverage-190.31x-138.81x-94.82x-198.93x-121.04x-21.41x-42.20x
Total Equity+-41.03M-57.01M-89.39M156.56M83.09M70.56M50.52M
Equity Growth %--0.39%-0.57%2.75%-0.47%-0.15%-0.28%
Book Value per Share-4.23-1.61-3.194.892.402.011.40
Total Shareholders' Equity-41.03M-57.01M-89.39M156.56M83.09M70.56M50.52M
Common Stock1.52K1.52K1.89K5.63K5.5K5.55K5.89K
Retained Earnings-46.83M-63.26M-105.66M-178.83M-258.81M-277.75M-311.18M
Treasury Stock78.55M147.41M-7.17M-619.61K-4-40
Accumulated OCI-410.69K-344.89K-350.98K-93.98K-849.3K-1.8M-526.9K
Minority Interest0000000

Cash Flow

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-14.26M-18.15M-28.53M-43.41M-48.61M-28.45M-29.7M
Operating CF Margin %-9.44%-37.82%-59.44%-4.27%-5.23%-1.57%-287.79%
Operating CF Growth %--0.27%-0.57%-0.52%-0.12%0.41%-0.04%
Net Income-15.27M-16.43M-42.4M-73.18M-79.97M-18.95M-33.42M
Depreciation & Amortization909K816.69K858.41K1.13M1.45M1.21M926.25K
Stock-Based Compensation126.54K611.71K10.13M18.68M10.52M7.27M4.91M
Deferred Taxes000622.43K-44.16K00
Other Non-Cash Items-547.85K-1.23M645.02K-9.95K-2.5M-1.44M-222.24K
Working Capital Changes513.83K-1.92M2.23M9.35M21.94M-16.55M-1.89M
Change in Receivables268.67K-480K480K-3M6.89M397.4K213.72K
Change in Inventory0-2.59M925.17K6.02M000
Change in Payables389.12K153.74K1.1M1.51M344.51K-572.37K1.15M
Cash from Investing+-29.51M24.86M7.07M-2.51M-686.05K-77.36K1.11M
Capital Expenditures-514.7K-151.83K-935.2K-2.51M-690.94K-85.01K-33.58K
CapEx % of Revenue0.34%0.32%1.95%0.25%0.07%0%0.33%
Acquisitions-------
Investments-------
Other Investing5.17K25.01M7.93K04.89K7.66K169
Cash from Financing+51.06M69.69M4.44M145.36M17.82M-5.37M3.77M
Debt Issued (Net)-------
Equity Issued (Net)-------
Dividends Paid0000000
Share Repurchases-------
Other Financing50M459.8K-580.6K-1.37M323.21K5.5K-137.3K
Net Change in Cash-------
Free Cash Flow+-14.78M-18.31M-29.46M-45.92M-49.3M-28.54M-29.73M
FCF Margin %-9.78%-38.14%-61.39%-4.51%-5.31%-1.58%-288.11%
FCF Growth %--0.24%-0.61%-0.56%-0.07%0.42%-0.04%
FCF per Share-1.52-0.52-1.05-1.43-1.42-0.81-0.83
FCF Conversion (FCF/Net Income)0.97x1.05x1.74x0.59x0.61x1.50x0.89x
Interest Paid0000603.68K1.05M778.51K
Taxes Paid00002.43M1.38M33.95K

Key Ratios

Metric2018201920202021202220232024
Return on Equity (ROE)----217.89%-66.74%-24.66%-55.21%
Gross Margin100%100%100%100%100%100%-797.49%
Net Margin-974.03%-3602.89%-3424.06%-719.18%-860.59%-104.61%-32386.45%
Debt / Equity---0.05x0.34x0.32x0.37x
Interest Coverage-190.31x-138.81x-94.82x-198.93x-121.04x-21.41x-42.20x
FCF Conversion0.97x1.05x1.74x0.59x0.61x1.50x0.89x
Revenue Growth--68.24%0%2019.85%-8.67%94.9%-99.43%

Revenue by Segment

2020
Service398.88K
Service Growth-
License225K
License Growth-

Frequently Asked Questions

Growth & Financials

Adagene Inc. (ADAG) reported $0.1M in revenue for fiscal year 2024. This represents a 93% decrease from $1.5M in 2018.

Adagene Inc. (ADAG) saw revenue decline by 99.4% over the past year.

Adagene Inc. (ADAG) reported a net loss of $55.4M for fiscal year 2024.

Dividend & Returns

Adagene Inc. (ADAG) has a return on equity (ROE) of -55.2%. Negative ROE indicates the company is unprofitable.

Adagene Inc. (ADAG) had negative free cash flow of $47.6M in fiscal year 2024, likely due to heavy capital investments.

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