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ABP

Abpro Corporation

ABP

Abpro Corporation • NASDAQ
$6.80 ▼ -0.15% (-0.01)
Market Cap $13.78 M
52w High $153.90
52w Low $4.56
Dividend Yield 0%
P/E -0.82
Volume 10.38K
Outstanding Shares 2.03M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $1.195M ▼ $-1.657M ▲ 0% $-0.63 ▲ $-1.323M ▲
Q2-2025 $0 $2.261M ▼ $-2.984M ▲ 0% $-1.56 ▲ $-2.667M ▲
Q1-2025 $0 ▼ $2.958M ▼ $-3.887M ▲ 0% ▲ $-2.4 ▲ $-2.998M ▲
Q4-2024 $183K ▲ $8.178M ▲ $-5.509M ▼ -3.01K% ▼ $-17.7 ▼ $-5.18M ▼
Q3-2024 $0 $391.686K $-335K 0% $-1.071 $-299K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $343K ▼ $1.703M ▼ $17.298M ▼ $-16.144M ▲
Q2-2025 $2.014M ▲ $3.483M ▲ $20.43M ▼ $-17.496M ▲
Q1-2025 $1.261M ▼ $2.797M ▼ $20.608M ▲ $-18.36M ▼
Q4-2024 $2.85M ▲ $4.661M ▼ $19.607M ▲ $-15.495M ▼
Q3-2024 $13.597K $7.858M $19.541M $-11.683M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.657M ▲ $-2.281M ▼ $26K ▲ $569K ▼ $-1.686M ▼ $-2.281M ▼
Q2-2025 $-2.984M ▲ $-1.386M ▲ $0 $2.01M ▲ $624K ▲ $-1.386M ▲
Q1-2025 $-3.887M ▲ $-1.719M ▲ $0 ▲ $132K ▼ $-1.587M ▼ $-1.719M ▲
Q4-2024 $-5.509M ▼ $-8.254M ▼ $-29.639M ▼ $40.275M ▲ $2.978M ▲ $-8.254M ▼
Q3-2024 $81.325K $3.442M $0 $936K $-188.403K $3.442M

Five-Year Company Overview

Income Statement

Income Statement Abpro is still a pure R&D‑stage biotech company with no product revenue yet. The income statement is driven entirely by research and corporate costs, which result in ongoing losses each year. These losses have been fairly small in absolute size but are meaningful relative to the tiny scale of the company. The pattern is typical for early biotech: spending ahead of any commercial returns, with future profit potential entirely dependent on successfully bringing one or more drug candidates through trials and into the market.

Balance Sheet

Balance Sheet The balance sheet is very thin and almost entirely made up of cash and similar assets, with no meaningful physical assets and no reported financial debt. Equity has recently moved into negative territory, which reflects accumulated losses and a very small capital base. This structure is common for young biotechs but underlines financial fragility: the company relies on external funding and partnerships rather than a strong internal capital cushion. On the positive side, the absence of debt reduces pressure from interest payments, but it does not remove the need to raise fresh capital over time.

Cash Flow

Cash Flow Cash flow shows a steady, modest cash burn from operating activities, driven by research spending and overhead, with essentially no investment in heavy equipment or facilities. Free cash flow is consistently negative, which is expected for a company without revenue and still building its pipeline. This means Abpro’s runway depends heavily on its existing cash, any funds tied to its collaborations, and its ability to access capital markets. Any delays or setbacks in development could increase pressure to secure additional financing.

Competitive Edge

Competitive Edge Abpro’s competitive position rests on its proprietary antibody engineering platforms and a focused pipeline in cancer and eye diseases, both large and competitive therapeutic areas. The DiversImmune and MultiMab platforms, and especially the TetraBi antibody format, are designed to generate highly targeted, multi‑specific antibodies that may offer better tumor targeting and safety than some existing approaches. A key strength is its high‑profile partnership with Celltrion on its lead asset, which brings external validation, development expertise, and potential funding. However, Abpro is competing against much larger, well‑financed players in oncology and ophthalmology, so its ability to stand out will depend on the quality of its clinical data and its execution in trials.

Innovation and R&D

Innovation and R&D Innovation is the core of Abpro’s story. The company is building a modular antibody platform that can be used to design a range of bi‑ and multi‑specific antibodies. Its lead program, a HER2‑targeted T‑cell engager, aims to treat solid tumors, including those that have failed existing therapies, by fine‑tuning how strongly it binds to cancer versus healthy cells. Other pipeline candidates target gastric cancer, liver cancer, and eye diseases, using similar engineering principles to improve precision, reduce side effects, and potentially lengthen dosing intervals. Most of these assets are still preclinical or very early‑stage, so the scientific promise is high but unproven, and the key test will be how they perform as they enter and progress through human trials over the next few years.

Summary

Abpro is an early, clinically focused biotech with no revenue, ongoing but modest losses, and a light, cash‑centric balance sheet with no debt but negative equity. Its financial profile is typical of a pre‑commercial drug developer and implies continued dependence on external funding and partner support. The main value driver is its antibody engineering platforms and the emerging pipeline in oncology and ophthalmology, anchored by a notable partnership with Celltrion. The company’s prospects hinge on converting strong preclinical concepts into compelling clinical results while carefully managing its limited financial resources in a highly competitive field. Uncertainty is high, as is normal for this stage, and future milestones will largely be determined by clinical trial outcomes and the company’s ability to secure and maintain strategic collaborations.

NEWS

November 4, 2025 · 9:15 AM UTC

Abpro and Celltrion to Present Preclinical Data for CT-P72/ABP-102 at SITC 2025, Highlighting a Next-Generation HER2×CD3 T-Cell Engager

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November 3, 2025 · 7:00 AM UTC

Abpro Announces 1-for-30 Reverse Stock Split Effective November 3, 2025

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