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APGE

Apogee Therapeutics, Inc.

APGE

Apogee Therapeutics, Inc. • NASDAQ
$71.97 ▲ 2.24% (+1.58)
Market Cap $3.95 B
52w High $73.90
52w Low $26.20
Dividend Yield 0%
P/E -16.43
Volume 322.70K
Outstanding Shares 54.83M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $70.878M ▼ $-65.021M ▲ 0% $-1.11 ▲ $-64.56M ▲
Q2-2025 $0 $73.165M ▲ $-66.096M ▼ 0% $-1.13 ▼ $-72.766M ▼
Q1-2025 $0 $63.096M ▼ $-55.339M ▲ 0% $-0.95 ▲ $-62.889M ▲
Q4-2024 $0 $75.881M ▲ $-67.218M ▼ 0% $-1.22 ▼ $-75.805M ▼
Q3-2024 $0 $58.686M $-49.018M 0% $-0.86 $-58.638M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $527.289M ▲ $626.159M ▼ $39.821M ▲ $586.338M ▼
Q2-2025 $505.42M ▼ $657.772M ▼ $38.371M ▼ $619.401M ▼
Q1-2025 $513.329M ▼ $714.162M ▼ $40.8M ▲ $673.362M ▼
Q4-2024 $520.653M ▼ $753.951M ▼ $37.157M ▼ $716.794M ▼
Q3-2024 $526.049M $776.286M $41.884M $734.402M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-65.021M ▲ $-54.255M ▲ $17.945M ▼ $19.738M ▲ $-16.572M ▼ $-54.255M ▲
Q2-2025 $-66.096M ▼ $-62.029M ▼ $78.125M ▲ $1.18M ▲ $17.276M ▲ $-62.797M ▼
Q1-2025 $-55.339M ▲ $-48.477M ▲ $12.982M ▼ $622K ▼ $-34.873M ▼ $-52.794M ▲
Q4-2024 $-67.218M ▼ $-67.714M ▼ $46.367M ▲ $44.356M ▲ $23.009M ▲ $-67.713M ▼
Q3-2024 $-49.018M $-42.524M $-146.378M $383K $-188.519M $-43.275M

Five-Year Company Overview

Income Statement

Income Statement Apogee is still a pure R&D story: it has no product revenue yet and is spending steadily more on development and operations each year. Losses are growing as the company staffs up and pushes multiple drug programs through clinical trials. This pattern is typical for a young biotech that is building its pipeline, but it also means the path to profitability depends entirely on successful trial results and, eventually, regulatory approvals and commercial launches.

Balance Sheet

Balance Sheet The balance sheet shows a young company that has been substantially funded by equity, especially around and after its IPO. Assets and shareholder equity have grown meaningfully, while debt remains very small, which reduces financial strain from interest payments. Cash is a key asset but will need to be carefully managed against future trial costs; over time, the company is likely to require additional capital unless it secures partnerships or revenue.

Cash Flow

Cash Flow Cash flows reflect a business in investment mode. The company is consistently using cash in its operations, and that outflow has been increasing as R&D activity ramps up. There is essentially no spending on physical assets, so most cash burn is tied directly to people, trials, and research. With no incoming cash from products yet, Apogee’s ability to fund itself will depend on the capital it has raised and its access to future financing.

Competitive Edge

Competitive Edge Apogee operates in a very competitive area of biotech—treatments for inflammatory and immune diseases—where there are already large, established players and successful drugs. Its edge is the ability to engineer long-acting antibodies that could be dosed much less frequently than many current biologics, which is a meaningful benefit for patients and physicians. By focusing on well-understood biological targets and protecting its technology with patents, Apogee aims to carve out a defensible niche. Still, it faces the usual biotech challenges: strong competition, the need to show clear clinical advantages, and the risk that larger companies may respond aggressively if Apogee’s drugs prove promising.

Innovation and R&D

Innovation and R&D Innovation is the core of Apogee’s story. The company is building an antibody platform designed to keep drugs in the body longer, aiming for dosing every few months instead of every few weeks. Its lead programs go after proven targets in conditions like atopic dermatitis, asthma, and other inflammatory diseases, which can lower scientific risk compared with entirely new targets. On top of this, Apogee is exploring combination therapies that attack multiple inflammatory pathways at once, which could help patients who don’t respond well to single drugs. However, most of these efforts are still in clinical testing, so there is significant scientific and execution risk ahead.

Summary

Apogee Therapeutics is an early-stage, pre-revenue biotech with a growing pipeline aimed at rethinking how often patients need injections for chronic inflammatory and immune diseases. Financially, it is following a classic biotech pattern: no revenue yet, increasing losses, a balance sheet strengthened by equity funding, and steady cash burn driven by R&D. Strategically, its promise lies in long-acting antibody technology, a focus on validated disease targets, and a range of potential single and combination treatments. The main opportunities come from successful trial results and eventual market entry against large existing products, while the main risks center on clinical outcomes, regulatory approval, competition from powerful incumbents, and the ongoing need to raise capital as development progresses.

NEWS

November 10, 2025 · 7:10 AM UTC

Apogee Therapeutics Provides Pipeline Progress and Reports Third Quarter 2025 Financial Results

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November 10, 2025 · 7:00 AM UTC

Apogee Therapeutics Announces Positive Interim Phase 1 Results from Healthy Volunteer Trial of APG333, its Novel Half-Life Extended TSLP Antibody

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November 3, 2025 · 7:30 AM UTC

Apogee Therapeutics to Participate in Upcoming Conferences

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October 10, 2025 · 4:01 PM UTC

Apogee Therapeutics, Inc. Announces Closing of Public Offering and Full Exercise of the Underwriters' Option to Purchase Additional Shares for Gross Proceeds of $345 Million

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October 8, 2025 · 9:52 PM UTC

Apogee Therapeutics, Inc. Announces Pricing of $300 Million Underwritten Public Offering

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