The company remains pre-revenue with quarterly operating losses of $14.6 million in 2024Q2, reflecting a total reliance on R&D-heavy clinical development.
| Sales/Revenue | 6.49M | 0 | 5M | 0 | 45.73M | 0 | 0 |
| Revenue Growth % | - | -100% | - | -100% | - | - | - |
| Cost of Goods Sold | 0 | 1.87M | 0 | 2.04M | 0 | 1.51M | 1.48M |
| COGS % of Revenue | - | - | - | - | - | - | - |
| Gross Profit | 6.49M | -1.87M | 5M | -2.04M | 45.73M | -1.51M | -1.48M |
| Gross Margin % | 100% | - | 100.09% | - | 100% | - | - |
| Gross Profit Growth % | - | -137.42% | 345.27% | -104.46% | 3131.23% | -1.94% | - |
| Operating Expenses | 68.58M | 53.02M | 72.55M | 58.91M | 54.37M | 24.59M | 17.64M |
| OpEx % of Revenue | - | - | 1452.28% | - | 118.91% | - | - |
| Selling, General & Admin | 14.78M | 8.09M | 15.29M | 13.04M | 12.45M | 5.56M | 4.3M |
| SG&A % of Revenue | - | - | 306.05% | - | 27.23% | - | - |
| Research & Development | 56.92M | 44.94M | 58.15M | 54.49M | 42.1M | 19.04M | 13.34M |
| R&D % of Revenue | - | - | 1164.05% | - | 92.08% | - | - |
| Other Operating Expenses | -1000K | 0 | -890K | -8.62M | -183K | 0 | 0 |
| Operating Income | -64.67M | -54.9M | -67.55M | -67.27M | -8.65M | -26.1M | -19.12M |
| Operating Margin % | -996.44% | - | -1352.2% | - | -18.91% | - | - |
| Operating Income Growth % | - | 18.73% | -0.42% | -678.05% | 66.87% | -36.53% | - |
| EBITDA | -63.57M | -53.02M | -65.33M | -66.32M | -6.82M | -24.59M | -17.64M |
| EBITDA Margin % | -979.51% | - | -1307.72% | - | -14.91% | - | - |
| EBITDA Growth % | 7.74% | 18.83% | 1.49% | -873.05% | 72.29% | -39.43% | - |
| D&A (Non-Cash Add-back) | 1.1M | 1.87M | 2.22M | 951K | 1.83M | 1.51M | 1.48M |
| EBIT | -64.67M | -49.95M | -103.44M | -58.36M | -55.41M | -61.48M | -17.36M |
| Net Interest Income | 1.49M | -1.94M | -729K | 117K | -1.31M | -1.72M | -443.28K |
| Interest Income | 1.49M | 0 | 61.95K | 550K | 32.04K | 24.05K | 22.86K |
| Interest Expense | 0 | 1.94M | 791K | 433K | 1.34M | 1.75M | 466.14K |
| Other Income/Expense | 11.25M | 3M | -36.68M | 8.48M | -48.03M | -37.28M | 1.29M |
| Pretax Income | -53.42M | -51.9M | -104.23M | -58.79M | -56.68M | -63.38M | -17.83M |
| Pretax Margin % | -823.14% | - | -2086.37% | - | -123.95% | - | - |
| Income Tax | 643K | 0 | 643K | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | -1.2% | 0% | -0.62% | 0% | 0% | 0% | 0% |
| Net Income | -54.06M | -51.9M | -104.87M | -58.79M | -56.68M | -63.38M | -17.83M |
| Net Margin % | -833.05% | - | -2099.25% | - | -123.95% | - | - |
| Net Income Growth % | 55.92% | 50.52% | -78.38% | -3.73% | 10.57% | -255.46% | - |
| Net Income (Continuing) | -54.06M | -51.9M | -104.87M | -58.79M | -56.68M | -63.38M | -17.83M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -6.21 | -4.89 | -15.42 | -6.93 | -6.66 | -7.62 | -2.10 |
| EPS Growth % | 51.04% | 68.29% | -122.51% | -4.05% | 12.6% | -262.86% | - |
| EPS (Basic) | - | -4.89 | -15.42 | -6.93 | -6.66 | -7.62 | -2.10 |
| Diluted Shares Outstanding | 8.71M | 10.64M | 6.8M | 8.48M | 8.48M | 8.48M | 8.48M |
| Basic Shares Outstanding | 8.71M | 10.64M | 6.8M | 8.48M | 8.48M | 8.48M | 8.48M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Clinical trial binary outcome
As indicated by the latest financial statements, Adlai Nortye remains a pre-revenue entity, with quarterly revenue figures of $745,000 representing non-recurring items rather than sustainable commercial growth, underscoring the company's total reliance on the successful clinical progression of its lead oncology asset, AN2025.
The lack of consistent revenue generation is typical for a clinical-stage biotechnology firm, yet it highlights the extreme sensitivity of the company's valuation to regulatory milestones. Investors should monitor whether future revenue streams emerge from licensing or milestone payments, as the current trajectory is entirely dependent on external capital rather than operational sales.
Based on reported figures, research and development expenses consistently consume the vast majority of the company's capital, with quarterly R&D outlays reaching $13.0 million, which significantly outweighs current revenue and underscores the high-stakes nature of the ongoing Phase III BURAN clinical trial program.
The cost structure is heavily skewed toward clinical execution, leaving little room for operational error or delays. This high fixed-cost burden suggests that any extension of the clinical timeline could rapidly deplete the company's cash reserves, necessitating further dilutive financing to maintain operations.
According to recent SEC filings, the company's operating losses remain substantial, with quarterly figures of $14.6 million in 2024, demonstrating that the firm has yet to achieve the scale necessary to offset its significant R&D and administrative overhead through any meaningful commercial activity.
The persistent negative operating margins indicate that the company is in a pure cash-burn phase, with no current evidence of operating leverage. Until the lead candidate reaches commercialization, the income statement will likely continue to reflect these deep losses as the firm prioritizes clinical development over profitability.
As reported in financial statements, the company's reliance on a single lead asset in a historically challenging drug class, combined with a limited cash runway, suggests that the primary risk is not operational efficiency but the potential for total value destruction upon negative clinical data.
Short-term financial metrics are largely secondary to the binary outcome of the BURAN trial, which serves as the sole catalyst for future viability. Investors should be wary of the potential for significant equity dilution if the company is forced to raise capital in a challenging biotech funding environment.
Quick answers to the most common questions about buying ANL stock.
For fiscal year 2024, Adlai Nortye Ltd. (ANL) reported total revenue of $0.0M.
Adlai Nortye Ltd. (ANL) reported a net loss of $51.9M for the fiscal year ending 2024.