Adlai Nortye Ltd.
ANL · Pharmaceutical Preparations · EDGAR filings ↗
Reference price $13.18 — last insider sale, 2026-05-13 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
D50Clinical-stage oncology biotech with deep losses, thin cash runway, and high leverage.
Strengths
- Pipeline of differentiated assets (pan-RAS inhibitors, ADC, immuno-oncology) with one Phase 2 (ARTEMIS) past futility analysis
- Cash $60.9M (~48th pct) provides near-term continuity
Risks
- ROE -2.04 (13th pct), ROIC -0.81 (17th pct), debt-to-equity 1.03 (85th pct); ~4.7 quarters cash runway requires near-term financing
- No product revenue; financial-statement revision and binary clinical/funding risk; China governance overhang
Notable findings
- No interest coverageInterest coverage -27.23 (cannot cover interest)
- Cash burnNegative free cash flow (-52.0M)
- Notable holderHeld by 1 notable fund(s): RENAISSANCE TECHNOLOGIES LLC (as of 2026-03-31)
Key metrics
Return on equity
-203.5%
Return on assets
-72.8%
ROIC
-80.7%
Debt / equity
1.0×
Interest coverage
-27.2×
Current ratio
1.4×
Free cash flow
-$52M
Tangible book value
$25M
Cash & investments
$61M
Cash runway
5q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-10 | Ji Ping | Other | 137K | — |
| 2026-05-13 | LU YANG | Sell | 10 | $13.18 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07252479 ↗ | Evaluation of RAS Inhibitor Treatment in Participants With Advanced or Metastatic Solid Tumors Harboring RAS Mutations Solid Tumors (Phase 1), RAS Mutation | PHASE1 | Recruiting | 2028-01-31 |
| NCT07639047 ↗ | An Initial Evaluation of AN8025 in Solid Tumors Advanced Solid Tumor (Phase 1) | PHASE1 | Recruiting | 2027-07-01 |
| NCT04999384 ↗ | First in Human, Dose Escalation Study of AN4005 Advanced Solid Tumor, Advanced Lymphoma | PHASE1 | Recruiting | 2026-11-01 |
| NCT04432857 ↗ | AN0025 and Pembrolizumab Combination in Advanced Solid Tumors Triple-negative Breast Cancer, NSCLC, Squamous or Non-Squamous | PHASE1 | Active Not Recruiting | 2024-05-31 |
| NCT05191667 ↗ | AN0025 and Chemoradiotherapy Combination in Esophageal Cancer Esophageal Cancer | PHASE1 | Suspended | 2025-12-01 |
| NCT04338399 ↗ | The BURAN Study of Buparlisib in Patients With Recurrent or Metastatic HNSCC Head and Neck Cancer | PHASE3 | Completed | 2025-11-02 |
| NCT04975958 ↗ | Double/Triple Combinations of AN2025, AN0025 and Atezolizumab in Advanced Solid Tumors Locally Advanced Solid Tumor | PHASE1 | Completed | 2025-01-24 |
| NCT05519059 ↗ | Pelareorep and Paclitaxel Injection in Chinese Patients With Advanced or Metastatic Breast Cancer Advanced or Metastatic Breast Cancer | PHASE1 | Completed | 2022-09-29 |
| NCT03152370 ↗ | Preoperative Radiotherapy and E7046 in Rectum Cancer Neoadjuvant Therapy in Rectal Cancer | PHASE1 | Completed | 2021-08-31 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-10 | 2025-12-31 | 0001213900-26-042520 ↗ |
| 20-F | 2025-04-30 | 2024-12-31 | 0001213900-25-037591 ↗ |
| 20-F | 2024-04-19 | 2023-12-31 | 0001104659-24-049439 ↗ |