Apogee Therapeutics (APGE) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Apogee Therapeutics

NasdaqGM•Healthcare•Biotechnology

$135.07+135.07(0.00%)After hours

Market Cap

$10.19B

P/B

8.5x

Apogee Therapeutics, Inc. develops and commercializes biologic therapies for immunological and inflammatory (I&I) diseases for patients and caregivers. The company's pipeline includes products, such as ZUMILOKIBART (APG777), a monoclonal antibody for atopic dermatitis, asthma, and eosinophilic esophagitis; APG990, a monoclonal antibody targeting OX40L; APG808, an antibody targeting IL-4Ra for chronic obstructive pulmonary disease and asthma; APG333, a half-life extended TSLP antibody; APG279, a combination therapy for atopic dermatitis; and APG273 for asthma and COPD. It also provides services related to engineering and optimizing antibodies with improved pharmacokinetics to reduce injection frequency for patients. The company was founded in 2022 and is based in San Francisco, California with an additional office in Waltham, Massachusetts. As of September 3, 2026, Apogee Therapeutics, Inc. operates as a subsidiary of AbbVie Inc.

How this company scores

WeakMetricSide Score: 21/100

Grade capped at D — Interest coverage below 1× (-51.9x) — earnings cannot cover interest. Strongest: Balance Sheet & Red Flags (7/25); weakest: Profitability (2/25).

Profitability2/25

Growth6/25

Balance Sheet & Red Flags7/25

Cash & Earnings Quality6/25

Strengths

Net cash position

Grade capped at D

Interest coverage below 1× (-51.9x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/B · 8.5x5y range 7.5x – 13.6x

Currently near its 12-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $10.19B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $0
Q. Revenue: $0
TTM EBITDA: $-326.49M
TTM Op. Income: $-328.11M
Q. Op. Income: $-96.00M
TTM Net Income: $-294.37M
Q. Net Income: $-85.85M
EPS: $-1.14
Shares Out.: $75.44M

$0 in TTM revenue was flat at zero YoY, reaching $0 last quarter. TTM EBITDA of $-326.49M and TTM operating income of $-328.11M show growth is flowing through to the bottom line. However, net income is negative at $294.37M — growth is not yet reaching the bottom line.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: N/A
Op. Margin: -9600400000.0%
Net Margin: -8585400000.0%

Op. margin of -9600400000.0% is down 2283900000.0% YoY — costs are rising relative to revenue. Net margin at -8585400000.0% Across the last 8 quarters, operating margin has fallen for 3 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: N/A
P/B Ratio: 8.5x

P/S of 0.0x and P/B of 8.5x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.34B
Cash: $105.57M
Long-Term Debt: N/A
Book Value: $1.19B
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-71.38M
TTM Free Cash Flow: $-243.96M
FCF Margin: N/A
FCF / Net Income: 0.8

TTM FCF of $-243.96M on $-71.38M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.