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AAPG

ASCENTAGE PHARMA GROUP INTERNATIONAL

AAPG

ASCENTAGE PHARMA GROUP INTERNATIONAL • NASDAQ
$32.50 ▲ 0.40% (+0.13)
Market Cap $3.02 B
52w High $48.45
52w Low $16.50
Dividend Yield 0%
P/E -15.85
Volume 112
Outstanding Shares 92.96M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $233.699M ▲ $766.033M ▲ $-590.768M ▼ -252.79% ▲ $-1.73 ▲ $-514.016M ▲
Q4-2024 $156.904M ▼ $709.664M ▲ $-568.434M ▼ -362.281% ▼ $-1.82 ▼ $-528.454M ▼
Q2-2024 $823.746M ▲ $620.704M ▲ $163.002M ▲ 19.788% ▲ $0.56 ▲ $229.586M ▲
Q4-2023 $79.284M ▼ $598.962M ▲ $-523.286M ▼ -660.015% ▼ $-1.8 ▲ $-492.672M ▼
Q2-2023 $142.7M $465.115M $-402.351M -281.956% $-11.32 $-250.938M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $1.661B ▲ $3.046B ▲ $2.37B ▲ $665.997M ▲
Q4-2024 $1.237B ▲ $2.618B ▼ $2.344B ▲ $264.194M ▼
Q2-2024 $1.1B ▲ $3.107B ▲ $2.331B ▼ $766.399M ▲
Q4-2023 $1.069B ▼ $2.5B ▼ $2.43B ▲ $60.417M ▼
Q2-2023 $1.582B $2.918B $2.318B $589.886M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-1.182B ▼ $0 ▼ $0 ▲ $0 ▲ $0 $0 ▼
Q4-2024 $-568.434M ▼ $243.034M ▲ $-230.756M ▼ $-82.138M ▼ $0 ▼ $235.272M ▲
Q2-2024 $163.002M ▲ $-354.39M ▲ $-131.278M ▼ $396.906M ▲ $952.434M ▲ $-370.916M ▼
Q4-2023 $-523.286M ▼ $-357.612M ▲ $86.696M ▲ $-86.882M ▼ $0 ▲ $-369.746M ▲
Q2-2023 $-409.576M $-368.465M $-64.774M $455.633M $-307.591M $-413.175M

Five-Year Company Overview

Income Statement

Income Statement Revenue is still very small but has been climbing steadily, helped by the first commercial product and some pipeline-related income. The cost base is dominated by R&D and other operating expenses, so almost all revenue drops straight into offsetting these costs rather than into profit. Losses remain sizeable, but they have narrowed recently, suggesting some operating leverage and better cost control as the company scales. Overall, this is a typical income profile for a clinical‑stage biotech transitioning slowly toward commercialization: growth in the top line, but not yet close to break-even.

Balance Sheet

Balance Sheet The company holds a solid cash position relative to its size, which is important for funding long and uncertain drug development cycles. Total assets have been fairly stable, but the capital structure leans heavily on debt, with equity still quite thin after years of accumulated losses. This means the balance sheet has limited shock-absorbing capacity and depends on continued access to funding from creditors or new equity. In short, there are enough resources to support near‑term operations, but the leverage and modest equity base are key risk points to monitor.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, reflecting ongoing spending on R&D, clinical trials, and commercialization efforts without matching inflows yet. Free cash flow is also negative, though capital spending is modest and largely focused on supporting the research platform and limited infrastructure needs. The trend shows some improvement in operating cash burn, but the business still consumes cash rather than generates it. This underlines a continuing need for external financing until one or more products reach meaningful commercial scale.

Competitive Edge

Competitive Edge Ascentage occupies a specialized niche in oncology by focusing on the biology of apoptosis, an area where it has built deep scientific expertise and a broad pipeline. It is unusual in having active clinical programs across all major classes of apoptosis regulators, which gives it a differentiated scientific footprint and a potentially defensible intellectual property base. The approved leukemia drug in China provides validation and a foothold in the market, supported by a global partnership with a large pharma company. At the same time, the company operates in a very competitive and fast‑moving oncology landscape, where larger players and rival mechanisms of action could limit its eventual share if clinical results or regulatory paths disappoint.

Innovation and R&D

Innovation and R&D The business model is driven by intensive research and development, with a clear strategy to build a family of targeted cancer therapies along the apoptosis pathway. Lead candidates such as the BCL‑2, MDM2, and dual BCL‑2/BCL‑xL inhibitors aim to be either first‑in‑class or best‑in‑class, which could create strong franchise value if late‑stage trials succeed. The company also maintains a bench of earlier‑stage assets, indicating a long-term innovation pipeline rather than reliance on a single product. However, this R&D‑heavy approach inherently carries high scientific, clinical, and regulatory risk, and timelines can be long and unpredictable before meaningful commercial payoffs emerge.

Summary

Ascentage Pharma is transitioning from a pure clinical‑stage biotech toward an early commercial company, with rising but still modest revenue and substantial ongoing losses. The balance sheet shows decent cash but meaningful leverage and a thin equity cushion, so funding risk remains an important consideration. Cash burn is improving but still significant, consistent with an R&D‑centric strategy focused on oncology innovation. Competitively, the company stands out for its deep focus on apoptosis and a validated product-plus‑pipeline story, supported by a major partnership. Future outcomes will be heavily shaped by late‑stage clinical data, regulatory decisions, and the pace of global expansion for its lead assets, all of which carry both significant opportunity and substantial uncertainty.

NEWS

November 24, 2025 · 7:00 PM UTC

Ascentage Pharma Announces Publication of Olverembatinib Phase Ib Safety, Efficacy and Novel Mechanism Data in Gastrointestinal Stromal Tumors in Nature's Signal Transduction and Targeted Therapy

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November 19, 2025 · 8:00 AM UTC

Ascentage Pharma to Participate in Three Upcoming Investor Conferences in December 2025

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November 3, 2025 · 8:10 PM UTC

Ascentage Pharma to Present Data from Multiple Studies of Olverembatinib, Including the First Dataset from POLARIS-1 Study, at ASH 2025

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October 29, 2025 · 8:00 PM UTC

Ascentage Pharma to Participate in Two Upcoming Investor Conferences in November 2025

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