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Adagene Valuation Multiples

Discover revenue and EBITDA valuation multiples for Adagene and similar public comparables like Vivoryon Therapeutics, Pharming, and Galapagos.

Adagene Overview

About Adagene

Adagene Inc is a platform-driven, clinical-stage biopharmaceutical company engaged in transforming the discovery and development of novel antibody-based cancer immunotherapies. It is principally engaged in research, development, and production of monoclonal antibody drugs for cancers. The company's platform is designed to generate therapeutic antibody candidates with functional epitopes and species cross-reactivity, as highlighted by the company's immunotherapy pipeline.


Founded

2011

HQ

United States of America
Employees

138

Website

adagene.com

Financials

LTM Revenue $0.1M

LTM EBITDA -$33.4M

EV

$4.9M

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Adagene Financials

Adagene has a last 12-month revenue of $0.1M and a last 12-month EBITDA of -$33.4M.

In the most recent fiscal year, Adagene achieved revenue of $0.1M and an EBITDA of -$31.7M.

Adagene expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Adagene P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $18.1M $0.1M XXX XXX XXX
Gross Profit n/a n/a XXX XXX XXX
Gross Margin NaN% NaN% XXX XXX XXX
EBITDA -$14.9M -$31.7M XXX XXX XXX
EBITDA Margin -82% -30668% XXX XXX XXX
Net Profit -$80.0M -$18.9M XXX XXX XXX
Net Margin -442% -18358% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Adagene Stock Performance

As of April 15, 2025, Adagene's stock price is $2.

Adagene has current market cap of $71.6M, and EV of $4.9M.

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Adagene Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$4.9M $71.6M XXX XXX XXX XXX $-0.62

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Adagene Valuation Multiples

As of April 15, 2025, Adagene has market cap of $71.6M and EV of $4.9M.

Adagene's trades at 59.0x LTM EV/Revenue multiple, and -0.1x LTM EBITDA.

Analysts estimate Adagene's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Adagene Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $4.9M XXX XXX XXX
EV/Revenue 47.5x XXX XXX XXX
EV/EBITDA -0.2x XXX XXX XXX
P/E -2.1x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF -0.2x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Adagene Valuation Multiples

Adagene's NTM/LTM revenue growth is -54%

Adagene's revenue per employee for the last fiscal year averaged $1K, while opex per employee averaged $0.3M for the same period.

Over next 12 months, Adagene's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Adagene's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Adagene Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -99% XXX XXX XXX XXX
EBITDA Margin -30668% XXX XXX XXX XXX
EBITDA Growth 112% XXX XXX XXX XXX
Rule of 40 (SaaS-only) -30722% XXX XXX XXX XXX
Revenue per Employee $1K XXX XXX XXX XXX
Opex per Employee $0.3M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 7048% XXX XXX XXX XXX
R&D Expenses to Revenue 27888% XXX XXX XXX XXX
Opex to Revenue 34935% XXX XXX XXX XXX

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Adagene Public Comps

See public comps and valuation multiples for Drug Development & Therapeutics and Vaccines & Immunotherapies comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Julphar XXX XXX XXX XXX XXX XXX
Benevolent AI XXX XXX XXX XXX XXX XXX
Galapagos XXX XXX XXX XXX XXX XXX
Pharming XXX XXX XXX XXX XXX XXX
Vivoryon Therapeutics XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Adagene M&A and Investment Activity

Adagene acquired  XXX companies to date.

Last acquisition by Adagene was  XXXXXXXX, XXXXX XXXXX XXXXXX . Adagene acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Adagene

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Adagene

When was Adagene founded? Adagene was founded in 2011.
Where is Adagene headquartered? Adagene is headquartered in United States of America.
How many employees does Adagene have? As of today, Adagene has 138 employees.
Who is the CEO of Adagene? Adagene's CEO is Dr. Peter Luo, PhD.
Is Adagene publicy listed? Yes, Adagene is a public company listed on NAS.
What is the stock symbol of Adagene? Adagene trades under ADAG ticker.
When did Adagene go public? Adagene went public in 2021.
Who are competitors of Adagene? Similar companies to Adagene include e.g. Julphar, Benevolent AI, Galapagos, Pharming.
What is the current market cap of Adagene? Adagene's current market cap is $71.6M
What is the current revenue of Adagene? Adagene's last 12-month revenue is $0.1M.
What is the current EBITDA of Adagene? Adagene's last 12-month EBITDA is -$33.4M.
What is the current EV/Revenue multiple of Adagene? Current revenue multiple of Adagene is 59.0x.
What is the current EV/EBITDA multiple of Adagene? Current EBITDA multiple of Adagene is -0.1x.
What is the current revenue growth of Adagene? Adagene revenue growth between 2023 and 2024 was -99%.
Is Adagene profitable? Yes, Adagene is EBITDA-positive (as of the last 12 months).

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