Adlai Nortye Group Ltd. is a US-listed company in the biotechnology industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Fair value per share
Under review: every model's value for Adlai Nortye Group Ltd. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.
Price vs value
Under review: cash-flow, stock-pay or share-count figures missing or out of date. We'll show the comparison once resolved.
Adlai Nortye Group Ltd. valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Insiders0 buying, 3 selling0 purchases and 7 sales by directors and officers, last 12 monthsInsider trades
- Funds31 adding, 13 cuttingOf 17 active managers that changed their stake, 15 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Where it stands out: change in share count of 0.2% ranks 24 of 156 biotechnology companies we cover.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
- Net cash. Cash exceeds long-term debt by $0.0bn.
Things to watch
- Loss-making. Operating margin is -714.0%: costs exceed revenue.
- Burning cash. Free cash flow was -672.8% of revenue over the last 12 months.
- Heavy stock-based pay. Stock pay equals 30.6% of revenue, against a median of 19.2% for biotechnology companies we cover: a real cost that cash-flow figures leave out.
- Short interest rising. Shares sold short rose 15% in a month to 8.7% of tradable shares.
Price chart
- 1 day+1.4%
- 1 week-11.3%
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Third-party market data · may be delayed
At a glance
Profitability
- Revenue (TTM)
- $5M
- Operating margin
- -714.0%
- Net margin
- -710.6%
- EPS (TTM, diluted)
- $-1.11
Growth
- Share count change
- +0.2%
Cash
- Free cash flow (TTM)
- -$33.6M
- FCF margin
- -672.8%
- Stock pay % of revenue
- 30.6%
News & updates
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for ANL from the sources we follow. See filings →
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
Valuation models
We value Adlai Nortye Group Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.1 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$0.7 ~$0.8–$2.8 | Left out: out of range vs price (0.08x) |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Adlai Nortye Group Ltd. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Forecasts and guidance
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | — | — | $17m | +244% |
| Next | — | — | $8m | −56% |
Positioning
- Short interest
- 8.7% of tradable shares
- Days to cover
- 18.84 at average volume
- Short interest, 1 month
- +15% to October 15, 2026
- Held by institutions
- 41% of shares
- Held by insiders
- 0.9% of shares
- Employees
- 109 full time
Share-price performance
Market data may be delayedPrice behaviour
- 52-week range
- Not enough history
- From 52-week high
- —
- vs 50-day average
- —
- vs 200-day average
- —
- Volatility (1 year)
- —
- Beta vs S&P 500
- —
Fundamentals
Financial statements
| Fiscal year | 2021 Dec 2021 | 2023 Dec 2023 | 2025 Dec 2025 |
|---|---|---|---|
| Income | |||
| Revenue | 46 | 5 | 5 |
| EBITDA | — | −72 | −35 |
| Operating income | −9 | −73 | −36 |
| Net income | −57 | −109 | −36 |
| Diluted EPS | −$6.69 | −$7.56 | −$1.11 |
| Growth (year on year) | |||
| Revenue | — | −89.1% | 0.0% |
| Margins | |||
| EBITDA margin | — | <−999% | −704.4% |
| Operating margin | −18.9% | <−999% | −714.0% |
| Net margin | −124.0% | <−999% | −710.6% |
| Free-cash-flow margin | −8.9% | <−999% | −672.8% |
| Cash flow | |||
| Cash from operations | −3 | −57 | −33 |
| Capital spending | 1 | 0 | 0 |
| Free cash flow | −4 | −57 | −34 |
| Stock-based pay | 3 | 4 | 2 |
| Free cash flow after stock pay | −7 | −61 | −35 |
| Balance sheet | |||
| Cash | 64 | 91 | 8 |
| Total debt | 10 | 30 | — |
| Net debt (negative = net cash) | −54 | −61 | −8 |
| Diluted shares | 8m | 14m | 32m |
Financial health
- Short-term assets cover short-term liabilities $27m of assets due within a year against $42m of liabilities due within a year.
- Short-term assets cover long-term liabilities $27m short-term assets against $1m of longer-dated liabilities.
- More cash than debt Cash or debt not separately reported. Not assessable.
- Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
- Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
- A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
- Operating profit covers interest at least five times over Operating income of −$36m against $42,000 of interest.
Dividends, buybacks and capital spending
- Diluted share count
- +0.2%
- year over year
- R&D spending
- 656.7%
- of revenue
Competitors: side by side with peers
| Last 12 months unless stated | ANL | IVA | RANI | IMRN | BOLT | TRDA | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $5m | $5m | $5m | $5m | $5m | $5m | $56m |
| Revenue growth, last 12 months | — | −49.1% | 306.4% | 10.9% | 12.8% | −94.1% | 12.6% |
| Revenue growth, latest quarter | — | — | 893.0% | — | −99.7% | −53.9% | 10.2% |
| Operating margin | −714.0% | <−999% | −675.8% | −49.9% | −654.5% | <−999% | −189.4% |
| Operating margin, 3-year average | — | — | <−999% | −211.3% | −887.4% | <−999% | −363.5% |
| Net margin | −710.6% | <−999% | −618.0% | −47.7% | −611.5% | <−999% | −169.8% |
| Cash from operations / revenue | −669.0% | <−999% | −416.1% | −42.3% | −669.2% | <−999% | −168.0% |
| Free-cash-flow margin | −672.8% | — | −417.0% | −42.3% | −669.2% | <−999% | −162.4% |
| Free-cash-flow margin, 3-year average | — | — | <−999% | <−999% | −825.2% | <−999% | −310.0% |
| Stock pay / revenue | 30.6% | 597.1% | 186.4% | 1.1% | 54.1% | 413.3% | 20.0% |
| Change in share count | 0.2% | 212.5% | — | 28.6% | 1.0% | −0.6% | 8.2% |
Peer comparison
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Operating margin Profitability | -714.0% | -189.4% | 131 of 175 |
| Net margin Profitability | -710.6% | -157.3% | 136 of 180 |
| Free-cash-flow margin Cash generation | -672.8% | -145.4% | 135 of 176 |
| Stock pay as % of revenue Cash generation | 30.6% | 19.2% | 104 of 179 |
| Change in share count Balance sheet | 0.2% | 7.9% | 24 of 156 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
Who owns it
Funds buying and selling- Reported value
- $304M
- Institutions reporting
- 42
- Shares held vs prior quarter
- ▲ 128.4%
- Positions opened / closed
- 22 / 6
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Cormorant Asset Management, LP | $45.7M | 4.0M | 15.0% | ▲ 37.3% |
| Venrock Adviser, LLC | $36.9M | 3.2M | 12.1% | 0.0% |
| Balyasny Asset Management L.P. | $35.2M | 3.1M | 11.6% | ▲ 248.8% |
| Point72 Asset Management, L.P. | $24.6M | 2.1M | 8.1% | New |
| Mpm Bioimpact LLC | $22.3M | 1.9M | 7.3% | New |
| Perceptive Advisors LLC | $20.6M | 1.8M | 6.8% | New |
| Casdin Capital, LLC | $14.4M | 1.3M | 4.7% | ▲ 132.1% |
| ADAR1 Capital Management, LLC | $11.7M | 1.0M | 3.8% | ▲ 763.2% |
| Octagon Capital Advisors LP | $10.7M | 935K | 3.5% | New |
| Millennium Management LLC | $9.3M | 808K | 3.1% | ▲ 18.5% |
| Braidwell LP | $9.1M | 795K | 3.0% | New |
| Squadron Capital Management LLC | $8.8M | 765K | 2.9% | ▼ 39.5% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Adlai Nortye Group Ltd.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.
Insider trading activity
Full insider history and chart| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Ji Ping Director | September 30, 2026 | Sell | 5,000 | $15.95 | $79,750 |
| Ji Ping Director | September 30, 2026 | Sell | 5,000 | $16.03 | $80,150 |
| Ji Ping Director | September 29, 2026 | Sell | 214 | $15.77 | $3,375 |
| Ji Ping Director | September 22, 2026 | Sell | 5,000 | $16.63 | $83,150 |
| Ye Xiaofeng CFO | August 26, 2026 | Sell | 5,667 | $14.25 | $80,755 |
| Ye Xiaofeng CFO | August 24, 2026 | Sell | 6,000 | $13.98 | $83,880 |
| Lu Yang CEO | May 13, 2026 | Sell | 10 | $13.18 | $132 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Results announcements
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Adlai Nortye Group Ltd. in brief
- What does Adlai Nortye Group Ltd. do?
- Adlai Nortye Group Ltd. is a US-listed company in the biotechnology industry. Its financial year ends in December.
- What is Adlai Nortye Group Ltd.'s stock ticker?
- Adlai Nortye Group Ltd. trades under the ticker ANL on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- What is Adlai Nortye Group Ltd.'s free cash flow?
- Adlai Nortye Group Ltd.'s free-cash-flow margin is -672.8% of revenue over the trailing twelve months, ranking 135 of the 176 biotechnology companies we cover.
- Who are Adlai Nortye Group Ltd.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Cormorant Asset Management, LP, Venrock Adviser, LLC and Balyasny Asset Management L.P. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Who are Adlai Nortye Group Ltd.'s competitors?
- In our Biotechnology peer group, the companies closest to Adlai Nortye Group Ltd. are Inventiva S.a., Rani Therapeutics Holdings, Inc., Immuron Ltd, Bolt Biotherapeutics, Inc. and Entrada Therapeutics, Inc. The side-by-side comparison below sets their revenue, margins and growth against Adlai Nortye Group Ltd.'s.
- Are insiders buying or selling Adlai Nortye Group Ltd. stock?
- Over the last 12 months, Adlai Nortye Group Ltd.'s directors and officers reported 0 open-market purchases and 7 sales on Form 4. The insider trading page charts every trade.
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