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ANL · NASDAQ · Biotechnology

Adlai Nortye (ADR)

Develops clinical-stage cancer therapies targeting RAS pathways and immune responses.

$13.82

After-hours close+0.08 (+0.58%)

At close$13.74(−4.05%)

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Profile

Adlai Nortye Ltd.ANLHealth Care

Develops clinical-stage cancer-therapy candidates centered on RAS-targeting therapies and next-generation cancer immunotherapies. R&D operations span China and the United States, following a shift from generics to oncology research.

Develops clinical-stage cancer-therapy candidates in two focal areas: RAS-targeting therapies and next-generation cancer immunotherapies. Its business centers on research and development rather than commercialized medicines, with the current focus following a documented transition to innovative cancer therapies.

R&D operations span China and the United States, while the listed parent was formed as a Cayman holding company for offshore financing. The operating business began in mainland China with generic pharmaceuticals and polypeptide intermediates. In 2016, the founders redirected it toward oncology-focused R&D and rebranded it as Adlai Nortye Biopharma.

The company's clinical-stage model depends on advancing cancer-therapy candidates through clinical development.

Company facts

CEOYang (Carsten) Lu

ListedSep 29, 2023

ExchangeNASDAQ

HeadquartersNorth Brunswick, NJ

CountryCayman Islands

Employees109

CIK0001944552

ISINUS00704R1095

Key statistics

Market cap$733.6M

EPS (ttm)−$1.96

P/E (ttm)−7.05

ROE-21.8%

P/B1.02

P/S37.27

Dividend yield—

Beta1.69vs XLV −0.09

Year to date +896% · Average volume (30d) 169.3K

Analysts

No analyst consensus on record.

Earnings

EPS

Estimate−$0.04

Reported−$0.04+7.9%

Revenue

Estimate$12.5M

Reported$14.7M+17.7%

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 14, 2026Q2 FY26	−$0.04	−$0.04	+7.9%	$12.5M	$14.7M	+17.7%	+0.68%
Apr 10, 2026Q1 FY26	−$0.11	−$0.18	−71.4%	$10.0M	$5.3M	−47.0%	+8.06%
Dec 29, 2025Q3 FY25	−$0.18	−$0.18	0.0%	$313.2K	—	—	−17.22%
Aug 7, 2025	−$0.18	−$0.18	0.0%	—	—	—	+0.65%

View details

Financial highlights

	Q1 FY24	Q2 FY24	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$745.0K	$745.0K	$2.5M	$2.5M	$7.3M	$7.3M
Gross profit	$745.0K	$745.0K	$2.5M	$2.5M	$7.3M	$7.3M
Operating income	−$14.6M	−$14.6M	−$8.3M	−$8.3M	−$2.9M	−$2.9M
Net income	−$13.8M	−$13.8M	−$8.6M	−$8.6M	−$2.7M	−$2.7M
Diluted EPS	−$1.59	−$1.59	−$0.81	−$0.81	−$0.17	−$0.17
Gross margin	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Operating margin	-1,962.6%	-1,962.6%	-330.5%	-330.5%	-39.3%	-39.3%

Fiscal years (4-quarter sums)FY22 $0 · FY23 $5.0M

Balance sheet, Jun 30, 2026Cash & short-term investments $232.8M · Total debt $26.7M · Total assets $248.4M · Shareholders' equity $214.8M

Dividends

No dividends on record.

Ownership

Institutions 21.83%11.59M sharesInsiders 33.16%17.60M sharesOther 45.01%23.89M shares

Shares outstanding 53.08M · Float —

Float — provider float and free-float percent disagree.

The provider's float, free-float percent and share count do not reconcile, so the float is not shown.

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Yang Lu · director, 10 percent owner, officer: CEO	17.09M	32.20%	Form 4	May 21, 2026
Venrock Healthcare Capital Partners III, L.P.	9.64M	6.10%	13G	Feb 11, 2026
ANL Talent Limited	9.30M	7.75%	13G	Jan 16, 2026
VR Adviser, LLC	3.21M	6.05%	13F	May 15, 2026
Cormorant Asset Management, LP	2.90M	5.19%	13G	May 15, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Aug 26, 2026	Xiaofeng Ye	officer: CFO	−5,667	$14.25
Aug 24, 2026	Xiaofeng Ye	officer: CFO	−6,000	$13.98
May 13, 2026	Yang Lu	director, 10 percent owner, officer: CEO	−10	$13.18