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AI-driven drug-discovery company using generative AI (Pharma.AI) to design new drug candidates.
AI-driven drug-discovery company using generative AI (Pharma.AI) to design new drug candidates.
Earns from licensing and collaboration deals, where drug companies pay upfront and milestone amounts when a candidate it designed is handed over or reaches a stage, plus fees for access to its software, so revenue is uneven. Its own drug pipeline absorbs most spending.
In one line: A Chinese/global Recursion Pharmaceuticals-style AI drug-discovery biotech.
Moat: narrow (IP / patents, data, process know-how). Proprietary generative-AI models trained on large biological/chemical datasets.
Headquarters: Hong Kong / Cayman Islands · Founded: 2014 · Employees: 317
Size InSilico Medicine Cayman TopCo (3696.HK) is a Hong Kong Health Care company (Pharmaceuticals: Major) with a market value of $2.80B, the 355th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$37.46 on 6 Nov 2026.
Performance Over six months the shares fell 42.7%, against -2.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 153.0% over the last twelve months (peer median +0.1%); the operating margin is -6.8% (peer median 11.3%).
Valuation It trades at 100.0× forward earnings against a peer median of 40.8× (most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 42% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is +19 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$1.06B | HK$438M | HK$670M | HK$401M | HK$236M |
| Revenue growth | — | -35% | +67% | +70% | — |
| Gross profit | HK$929M | HK$357M | HK$605M | HK$302M | HK$150M |
| EBITDA | -HK$32.8M | -HK$430M | -HK$244M | -HK$620M | -HK$613M |
| Net income | -HK$2.32B | -HK$2.75B | -HK$133M | -HK$1.66B | -HK$1.74B |
| Free cash flow | HK$342M | -HK$578M | -HK$395M | -HK$232M | -HK$457M |
| Capital expenditure | HK$22.9M | HK$23.2M | HK$7.22M | HK$23.3M | HK$87.9M |
| Total debt | n/a | HK$46.4M | HK$19.9M | HK$17.1M | HK$25.2M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| InSilico Medicine Cayman TopCo 3696.HK | $2.80B | -43% | +153% | -7% | 100.0× | 42.1% |
| Recursion Pharmaceuticals RXRX | $2.19B | +6% | +56% | -725% | n/a | n/a |
| Schrodinger SDGR | $2.23B | +125% | +9% | -59% | n/a | n/a |
| XtalPi 2228.HK | $3.35B | -34% | +4% | -127% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 3696.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -29.3% | +2.2% | 4th lowest of 21 |
| 6-month return | -42.7% | -2.8% | 3rd lowest of 21 |
| Distance from 52-week high | -53.7% | -21.3% | 3rd lowest of 21 |
| Revenue growth (TTM) | +153.0% | +0.1% | highest of 20 |
| Operating margin | -6.8% | 11.3% | 4th lowest of 20 |
| Forward P/E | 100.0× | 40.8× | most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 42.1% | 25.5% | 5th most demanding of 13 |
| Growth delivered (Del g) | +22.9% | +10.5% | 4th highest of 13 |
| Hurdle (Req g minus delivered) | +19.1 pp | +1.4 pp | 4th most demanding of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| InSilico Medicine Cayman TopCo 3696.HK | Hong Kong | $2.80B | -43% | +153% | -7% | 100.0× | 42.1% | +22.9% |
| Vericel VCEL | United States | $2.80B | +63% | +23% | 6% | 76.2× | 50.7% | +17.3% |
| BioArctic BIOA-B.ST | Sweden | $2.78B | -3% | -46% | 22% | 53.4× | 25.7% | +100.1% |
| Kangmei Pharmaceutical 600518.SS | China | $2.77B | -22% | -6% | -7% | n/a | n/a | n/a |
| Almirall ALM.MC | Spain | $2.74B | -2% | +24% | 8% | 30.6× | 7.3% | +6.5% |
| Joincare Pharmaceutical Group Industry 600380.SS | China | $2.86B | -4% | -12% | 18% | 15.6× | -13.1% | +2.4% |
| Acrobiosystems 301080.SZ | China | $2.72B | +95% | +29% | 17% | 64.9× | 45.0% | +27.7% |
| Yili Chuanning Biotechnology 301301.SZ | China | $2.70B | -20% | -14% | 16% | 26.3× | 4.6% | +4.8% |
| Sam Chun Dang Pharm 000250.KS | South Korea | $2.91B | -59% | +21% | 7% | n/a | n/a | n/a |
| Neuland Laboratories NEULANDLAB.NS | India | $2.68B | +14% | +50% | 26% | 54.3× | n/a | n/a |
| Regencell Bioscience RGC | United States | $2.61B | -82% | n/a | n/a | n/a | n/a | n/a |
| Betta Pharmaceuticals 300558.SZ | China | $3.01B | -9% | +16% | 11% | 44.2× | 25.2% | +14.0% |
| IDEAYA Biosciences IDYA | United States | $3.02B | +10% | -83% | -1,267% | n/a | n/a | n/a |
| HUTCHMED (China) 0013.HK | Hong Kong | $2.58B | +9% | -9% | -6% | 40.8× | 49.9% | +19.3% |
| Hybio Pharmaceutical 300199.SZ | China | $3.08B | +16% | +70% | 31% | 51.4× | 40.1% | +6.1% |
| Keymed Biosciences 2162.HK | Hong Kong | $2.48B | -6% | 0% | -73% | 18.6× | n/a | n/a |
| Chengdu Kanghong Pharmaceutical 002773.SZ | China | $3.18B | -7% | -11% | 24% | 21.3× | -2.2% | +7.0% |
| Tasly Pharmaceutical 600535.SS | China | $3.20B | -5% | -4% | 19% | 16.5× | -7.6% | -9.6% |
| Arcutis Biotherapeutics ARQT | United States | $3.21B | +21% | +76% | 7% | 37.9× | 48.9% | +367.3% |
| Viridian Therapeutics VRDN | United States | $3.23B | +72% | -63% | -1,781% | n/a | n/a | n/a |
| Acutaas Chemicals ACUTAAS.NS | India | $3.28B | +39% | +45% | 36% | 61.8× | n/a | n/a |