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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 -$34.8M

EV

$24.7M

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Adagene Financials

Adagene has a last 12-month revenue (LTM) of $0.1M and a last 12-month EBITDA of -$34.8M.

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

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $0.1M XXX $0.1M XXX XXX XXX
Gross Profit $0.1M XXX n/a XXX XXX XXX
Gross Margin 100% XXX n/a XXX XXX XXX
EBITDA -$34.8M XXX -$31.7M XXX XXX XXX
EBITDA Margin -46880% XXX -30668% XXX XXX XXX
EBIT -$37.0M XXX -$36.0M XXX XXX XXX
EBIT Margin -49771% XXX -34835% XXX XXX XXX
Net Profit -$35.8M XXX -$33.4M XXX XXX XXX
Net Margin -48146% XXX -32386% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Adagene Stock Performance

As of May 30, 2025, Adagene's stock price is $2.

Adagene has current market cap of $91.4M, and EV of $24.7M.

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Adagene Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$24.7M $91.4M XXX XXX XXX XXX $-0.64

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Adagene Valuation Multiples

As of May 30, 2025, Adagene has market cap of $91.4M and EV of $24.7M.

Adagene's trades at 239.3x EV/Revenue multiple, and -0.8x EV/EBITDA.

Equity research analysts estimate Adagene's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Adagene has a P/E ratio of -2.6x.

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Adagene Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $91.4M XXX $91.4M XXX XXX XXX
EV (current) $24.7M XXX $24.7M XXX XXX XXX
EV/Revenue 332.3x XXX 239.3x XXX XXX XXX
EV/EBITDA -0.7x XXX -0.8x XXX XXX XXX
EV/EBIT -0.7x XXX -0.7x XXX XXX XXX
EV/Gross Profit 332.3x XXX n/a XXX XXX XXX
P/E -2.6x XXX -2.7x XXX XXX XXX
EV/FCF n/a XXX -0.8x XXX XXX XXX

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Adagene Margins & Growth Rates

Adagene's last 12 month revenue growth is -46%

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

Adagene's rule of 40 is -128% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Adagene's rule of X is -46995% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Adagene Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth -46% XXX -30% XXX XXX XXX
EBITDA Margin -46880% XXX -30668% XXX XXX XXX
EBITDA Growth 40% XXX n/a XXX XXX XXX
Rule of 40 -128% XXX -30714% XXX XXX XXX
Bessemer Rule of X XXX XXX -46995% XXX XXX XXX
Revenue per Employee XXX XXX $1K XXX XXX XXX
Opex per Employee XXX XXX $0.3M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 27888% XXX XXX XXX
Opex to Revenue XXX XXX 34935% 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

Valuation data powered by FactSet, Inc.

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 $91.4M
What is the current revenue of Adagene? Adagene's last 12 months revenue is $0.1M.
What is the current revenue growth of Adagene? Adagene revenue growth (NTM/LTM) is -46%.
What is the current EV/Revenue multiple of Adagene? Current revenue multiple of Adagene is 332.3x.
Is Adagene profitable? Yes, Adagene is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Adagene? Adagene's last 12 months EBITDA is -$34.8M.
What is Adagene's EBITDA margin? Adagene's last 12 months EBITDA margin is -46880%.
What is the current EV/EBITDA multiple of Adagene? Current EBITDA multiple of Adagene is -0.7x.

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