Ascletis Pharma Inc. (ASCLF)
被低估基本面
22
价格
$8.37
市值
$9.11B
第一部分 · 这家公司值多少
概览
Ascletis Pharma is a Hangzhou-based Chinese biotech that develops and, on a small scale, sells drugs. It already markets treatments for hepatitis C, including Ganovo and a ritonavir tablet, in China, but that legacy business generates only minimal revenue. The company has pivoted most of its research toward metabolic disease — obesity and fatty liver — with pipeline candidates like ASC30 and ASC41, and it has also licensed in a China-market NASH drug, denifanstat, from a US partner.
盈利方式
Ascletis earns a small amount of revenue selling its approved hepatitis C drugs in China, but this legacy business is not the point of the company today: most of the value investors are pricing in depends on drug candidates still in clinical trials that generate no revenue at all. Until a metabolic-disease drug such as ASC30 or ASC41 is approved and launched, Ascletis is funded mainly by capital raised from investors rather than by product sales.
看多理由
Buyers argue that early obesity data — a Phase 2 US study reported 7.7% weight loss for its oral GLP-1 candidate — puts Ascletis in one of the most closely watched drug categories in the industry, and that its established, revenue-generating hepatitis C franchise shows the company can already get drugs through Chinese regulators and to market.
看空理由
Sellers worry that Ascletis' actual product revenue is still minimal, that its valuation rests almost entirely on obesity and metabolic-disease candidates years away from approval in a field crowded with better-funded rivals, and that its pivot away from the older hepatitis C business leaves little near-term commercial base to fall back on.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
Generated on 2026年8月23日 with claude-opus-5 — shared with all users
Viking's oral VK2735 tablet targets the same obesity patients with the same oral-pill format, making it the other emerging-biotech contender competing with ASC30 for prescriptions and for a partner or acquirer.
Lilly's orforglipron is the oral small molecule GLP-1 that Ascletis explicitly benchmarks ASC30 against on weight loss and tolerability, and its amylin agonist eloralintide competes head-on with Ascletis' ASC39.
Novo Nordisk defends the obesity market Ascletis is trying to enter, with oral semaglutide and the oral candidate amycretin aimed at exactly the same overweight and type 2 diabetes patients.
Both are clinical-stage biotechs whose entire value rests on a once-daily oral small molecule GLP-1 agonist for chronic weight management, with Structure's aleniglipron and Ascletis' ASC30 running competing global Phase III obesity programmes.
Hengrui's HRS-7535 is the Chinese oral small molecule GLP-1 furthest ahead in obesity and type 2 diabetes, competing with ASC30 both for Chinese patients and for out-licensing deals with Western partners.
Innovent's mazdutide is already the reference weight-loss therapy in China and is the incumbent ASC30 would have to displace in Ascletis' home market.
资产负债表与流动性
营收
$2M
截至最近已公布季度的最近12个月 — 根据每股指标估算
净利润
$-387M
截至最近已公布季度的最近12个月 — 根据每股指标估算
自由现金流
$-364M
股东权益合计
$2.69B
负债合计
$4M
流动比率
12.92
利息覆盖率
-
债务/EBITDA
-
每股收益
营收与净利润
自由现金流
收入构成
历史财务表
利润率变化
债务变化
债务负担有多重
增长一览表
增长 — 营业收入
公允价值估算
公允价值
$14.96
当前价格
$8.37
安全边际
+44.1%
公允价值区间
$9.73 - $20.20
所用估值方法之间的离散区间，并非经过统计校准的置信区间。
估算方法
估值指标
市盈率（P/E）
-
ROE
-28.6%
市净率（P/B）
4.29
P/FCF
-
毛利率
26.0%
ROIC
-20.5%
盈利能力雷达图
价值创造（经济护城河）
ROIC
-20.5%
WACC
8.4%
ROIC − WACC
-28.9 pp
ROIC 低于资本成本：公司每投入一美元都在毁灭价值。
基本面分析标准
通过（4）
- Debt/Equity ratio
- Current Ratio
- Analyst Consensus 78% Buy
- Net Margin Trend -17745.6% vs -23455.7%
未通过（10）
- Price CAGR 4.21%
- ROIC -20.5%
- Gross Margin 26.0%
- P/B Ratio 4.29
- Operating Margin -17712.5%
- Positive Free Cash Flow
- DCF valuation (Unknown)
- ROE -18.9%
- Revenue Growth 5Y -43.4%
- Piotroski F-Score 0/9
不可用（13）
- EPS data insufficient
- P/FCF NaN
- Dividend Payout NaN%
- CapEx intensity
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- Price below Graham Number
- Earnings Surprise (Finnhub)
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
- Share Dilution (missing shares data)
Piotroski F-评分
存在严重财务隐患
盈利质量
低质量：需深入审查会计处理
股权稀释
正在回购股份，对股东友好
机构持股
该公司暂无机构申报数据。
公司治理
管理团队
| 姓名 | 职位 | 年龄 |
|---|---|---|
| Dr. Jinzi Wu Ph.D. | Founder, Chairman & CEO | 62 |
| Ms. Hejingdao Wu | Senior VP of Operations & Executive Director | 51 |
| Dr. Kristjan Sigurdur Gudmundsson | Senior Consultant & Head of Discovery | 57 |
| Dr. George Zhengzhi Hill | Senior Consultant & Chief Medical Advisor | 74 |
| Mr. John P. Gargiulo M.B.A. | Chief Business Officer | 65 |
第二部分 · 价格与买入时机
这一部分不判断公司是否值得拥有：它帮助你在基本面说服你之后，选择何时买入。包含：技术分析、潜力、历史回撤、Gamma 敞口。
Latest News
Recent headlines for ASCLF, sourced from Markets Gazette.