Reported Earnings • May 20
First quarter 2026 earnings released: NT$0.44 loss per share (vs NT$0.53 loss in 1Q 2025) First quarter 2026 results: NT$0.44 loss per share (improved from NT$0.53 loss in 1Q 2025). Revenue: NT$82.3m (up 14% from 1Q 2025). Net loss: NT$185.5m (loss narrowed 17% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 23% per year. Announcement • Mar 12
Adimmune Corporation, Annual General Meeting, Jun 04, 2026 Adimmune Corporation, Annual General Meeting, Jun 04, 2026. Location: no,328, chun fu rd., pei tun district, taichung city Taiwan Reported Earnings • Nov 16
Third quarter 2025 earnings released: NT$0.04 loss per share (vs NT$0.63 profit in 3Q 2024) Third quarter 2025 results: NT$0.04 loss per share (down from NT$0.63 profit in 3Q 2024). Revenue: NT$475.3m (down 47% from 3Q 2024). Net loss: NT$18.3m (down 107% from profit in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 15
Second quarter 2025 earnings released: NT$0.52 loss per share (vs NT$0.65 loss in 2Q 2024) Second quarter 2025 results: NT$0.52 loss per share (improved from NT$0.65 loss in 2Q 2024). Revenue: NT$108.6m (up 36% from 2Q 2024). Net loss: NT$218.8m (loss narrowed 20% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Reported Earnings • May 16
First quarter 2025 earnings released: NT$53.00 loss per share (vs NT$0.44 loss in 1Q 2024) First quarter 2025 results: NT$53.00 loss per share (further deteriorated from NT$0.44 loss in 1Q 2024). Revenue: NT$72.1m (up 64% from 1Q 2024). Net loss: NT$223.3m (loss widened 21% from 1Q 2024). Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 25% growth forecast for the Biotechs industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Announcement • May 07
Adimmune Corporation to Report Q1, 2025 Results on May 13, 2025 Adimmune Corporation announced that they will report Q1, 2025 results on May 13, 2025 Announcement • Mar 13
Adimmune Corporation, Annual General Meeting, Jun 26, 2025 Adimmune Corporation, Annual General Meeting, Jun 26, 2025. Location: no,328, chun fu rd., pei tun district, taichung city Taiwan New Risk • Jan 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 27% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.2% average weekly change). Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.62 (vs NT$0.63 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.62 (down from NT$0.63 in 3Q 2023). Revenue: NT$888.2m (down 8.7% from 3Q 2023). Net income: NT$263.3m (flat on 3Q 2023). Profit margin: 30% (up from 27% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Board Change • Nov 13
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Mei-Ling Hsiao was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 06
Adimmune Corporation to Report Q2, 2024 Results on Aug 13, 2024 Adimmune Corporation announced that they will report Q2, 2024 results on Aug 13, 2024 Reported Earnings • May 18
First quarter 2024 earnings released: NT$0.44 loss per share (vs NT$0.59 loss in 1Q 2023) First quarter 2024 results: NT$0.44 loss per share (improved from NT$0.59 loss in 1Q 2023). Revenue: NT$43.9m (down 74% from 1Q 2023). Net loss: NT$184.0m (loss narrowed 26% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Announcement • May 05
Adimmune Corporation to Report Q1, 2024 Results on May 10, 2024 Adimmune Corporation announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Mar 31
Full year 2023 earnings released: NT$1.52 loss per share (vs NT$0.68 profit in FY 2022) Full year 2023 results: NT$1.52 loss per share (down from NT$0.68 profit in FY 2022). Revenue: NT$1.79b (down 21% from FY 2022). Net loss: NT$639.9m (down 320% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Announcement • Mar 14
Adimmune Corporation, Annual General Meeting, Jun 21, 2024 Adimmune Corporation, Annual General Meeting, Jun 21, 2024. Location: No. 328, Junfu 18th Rd., Beitun Dist., Taichung City Taiwan Agenda: To consider 2023 Business Report; to consider audit Committee's review of the 2023 Annual Final Accounting Books and Statements; to consider election for one additional seat of independent director; and to transact other business. Announcement • Nov 02
Adimmune Corporation Announces Change in Representative of its Institutional Director Adimmune Corporation announced the change in representative of the company’s institutional director. Name of the previous position holder: Tai, Chien-Cheng. Resume of the previous position holder: Senior Technical Specialist and Section Chief, Taiwan Intellectual Property Office. Name of the new position holder: Lin, Der-Sheng. Resume of the new position holder: Chief Secretary, the Industrial Development Administration, Taiwan's Ministry of Economic Affairs. Effective date of the new appointment is November 1, 2023. Reported Earnings • Aug 17
Second quarter 2023 earnings released: NT$0.57 loss per share (vs NT$0.11 profit in 2Q 2022) Second quarter 2023 results: NT$0.57 loss per share (down from NT$0.11 profit in 2Q 2022). Revenue: NT$82.5m (down 84% from 2Q 2022). Net loss: NT$240.7m (down NT$286.0m from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year whereas the company’s share price has fallen by 24% per year. Reported Earnings • Apr 01
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: NT$0.68 (up from NT$0.10 in FY 2021). Revenue: NT$2.25b (up 37% from FY 2021). Net income: NT$291.0m (up NT$247.9m from FY 2021). Profit margin: 13% (up from 2.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 7.9%. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 26% growth forecast for the Biotechs industry in Asia. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$40.75, the stock trades at a forward P/E ratio of 80x. Average forward P/E is 29x in the Biotechs industry in Asia. Total returns to shareholders of 50% over the past three years. Major Estimate Revision • Dec 06
Consensus EPS estimates increase by 26% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from NT$2.10b to NT$2.18b. EPS estimate increased from NT$0.50 to NT$0.63 per share. Net income forecast to shrink 58% next year vs 38% growth forecast for Biotechs industry in Taiwan . Consensus price target of NT$52.00 unchanged from last update. Share price was steady at NT$36.60 over the past week. Reported Earnings • Nov 19
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: NT$0.98 (up from NT$0.38 in 3Q 2021). Revenue: NT$1.09b (up 44% from 3Q 2021). Net income: NT$419.5m (up 161% from 3Q 2021). Profit margin: 39% (up from 21% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 28%. Earnings per share (EPS) also surpassed analyst estimates by 109%. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 84% growth forecast for the Biotechs industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 4 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director Yung-Sheng Hsu was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 17
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: NT$0.11 (up from NT$0.38 loss in 2Q 2021). Revenue: NT$526.9m (up 499% from 2Q 2021). Net income: NT$45.3m (up NT$208.3m from 2Q 2021). Profit margin: 8.6% (up from net loss in 2Q 2021). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 69%. Over the next year, revenue is forecast to grow 17%, compared to a 882% growth forecast for the Biotechs industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 18
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: NT$0.55 loss per share (up from NT$0.58 loss in 1Q 2021). Revenue: NT$52.8m (up NT$45.9m from 1Q 2021). Net loss: NT$234.6m (loss narrowed 6.1% from 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 25%. Over the next year, revenue is forecast to grow 48%, compared to a 9,387% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased to NT$53.00 Down from NT$70.00, the current price target is provided by 1 analyst. New target price is 31% above last closing price of NT$40.50. Stock is down 24% over the past year. The company is forecast to post earnings per share of NT$0.34 for next year compared to NT$0.10 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Yung-Sheng Hsu was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$0.10 (vs NT$3.04 in FY 2020) Full year 2021 results: EPS: NT$0.10 (down from NT$3.04 in FY 2020). Revenue: NT$1.64b (down 12% from FY 2020). Net income: NT$43.1m (down 97% from FY 2020). Profit margin: 2.6% (down from 66% in FY 2020). The decrease in margin was primarily driven by higher expenses. Over the next year, revenue is forecast to grow 36%, compared to a 12,016% growth forecast for the pharmaceuticals industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • Mar 31
Adimmune Corporation, Annual General Meeting, Jun 29, 2022 Adimmune Corporation, Annual General Meeting, Jun 29, 2022. Location: No. 328, Junfu 18th Rd., Beitun Dist., Wagor International Banquet Hall Taichung City Taiwan Agenda: To consider 2021 Business Report; to consider Audit Committee's review of the 2021 Annual Final Accounting Books and Statements; to consider Report on 2021 employees' and directors' remuneration; to consider implementation of 2018 business improvement plan for cash capital increase; to consider 2021 Business Report and Financial Statements; to consider 2021 Earnings Distribution; to consider amendments to the Corporate Charter; and to consider other matters. Announcement • Feb 12
Adimmune Corporation Announces the Approval of the Company's Quadrivalent Influenza Vaccine from China's National Medical Products Administration Adimmune Corporation announced the marketing authorization of the Company's quadrivalent influenza vaccine is granted by China's National Medical Products Administration. Upon receiving the marketing authorization from China's National Medical Products Administration, the Company will initiate the marketing of quadrivalent influenza vaccine for adults. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.37 (vs NT$0.38 in 3Q 2020) The company reported a mediocre third quarter result with weaker profit margins, although earnings were flat and revenues improved. Third quarter 2021 results: Revenue: NT$753.3m (up 22% from 3Q 2020). Net income: NT$161.0m (flat on 3Q 2020). Profit margin: 21% (down from 26% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 18
Second quarter 2021 earnings released: NT$0.38 loss per share (vs NT$0.35 loss in 2Q 2020) The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: NT$88.0m (up 40% from 2Q 2020). Net loss: NT$163.0m (loss widened 14% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 15
First quarter 2021 earnings released: NT$0.58 loss per share (vs NT$0.045 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: NT$6.93m (down 98% from 1Q 2020). Net loss: NT$249.8m (loss widened NT$232.9m from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improved over the past week After last week's 26% share price gain to NT$62.90, the stock trades at a trailing P/E ratio of 20.7x. Average forward P/E is 43x in the Biotechs industry in Taiwan. Total returns to shareholders of 246% over the past three years. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$3.03 (vs NT$0.90 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.87b (up 44% from FY 2019). Net income: NT$1.24b (up NT$1.52b from FY 2019). Profit margin: 66% (up from net loss in FY 2019). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 22
New 90-day high: NT$65.40 The company is up 7.0% from its price of NT$61.40 on 24 November 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Biotechs industry, which is up 5.0% over the same period. Is New 90 Day High Low • Jan 29
New 90-day low: NT$47.05 The company is down 19% from its price of NT$58.30 on 30 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 3.0% over the same period. Is New 90 Day High Low • Jan 04
New 90-day low: NT$53.80 The company is down 25% from its price of NT$71.80 on 06 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 2.0% over the same period. Is New 90 Day High Low • Dec 15
New 90-day low: NT$55.10 The company is down 23% from its price of NT$71.70 on 16 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 5.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.38 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$617.7m (up 22% from 3Q 2019). Net income: NT$160.3m (up 45% from 3Q 2019). Profit margin: 26% (up from 22% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Nov 15
Revenue misses expectations Revenue missed analyst estimates by 5.1%. Is New 90 Day High Low • Oct 28
New 90-day low: NT$61.80 The company is down 10.0% from its price of NT$68.70 on 30 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 7.0% over the same period.