olivLaw · US equity research
YD Bio Limited YDES
Services-Medical Laboratories · SIC 8071 · Vertical: Services-Medical Laboratories (SIC 8071)
YD Bio Limited is a biotechnology company with activities in DNA methylation-based oncology diagnostics, life science clinical services and the commercialization of ophthalmic and consumer health products. The company is expanding through transactions announced in 2026, while capital expenditures fell from 2.9 million USD in 2024 to 1.4 million USD in 2025.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, YD Bio Limited (YDES) stock was 6.95 USD (+8.68% on the day), with market capitalisation 492.0 m USD, beta -0.15, 52-week range 1.90–15.42 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 59.9
- strong (55–70)
- Bollinger (20, 2)
- 4.77 – 7.19
- in the upper half of the band · %B 0.90 · band width 40.5%
- SMA 50 / 200
- 5.23 / 5.45
- mixed trend
- MACD (12, 26, 9)
- 0.24 / 0.20
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −2.3% | −1.1% | −1.2 pp | — |
| 3 months | +208.9% | −0.5% | +209.3 pp | — |
| 6 months | +33.8% | +4.4% | +29.4 pp | — |
| Year to date | −43.0% | +12.3% | −55.3 pp | — |
| 1 year | −36.1% | +13.5% | −49.7 pp | +7.7% |
| 3 years | unavailable | +76.4% | unavailable | +69.6% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 350.1 k | 510.4 k | 596.8 k |
| Revenue YoY | unavailable | +45.8% | +16.9% |
| Net income | 13.6 k | -1.4 m | -8.3 m |
| Net income YoY | unavailable | −10,509.7% | unavailable |
| Diluted EPS | 0.00 | -0.02 | -0.12 |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | 3.9% | -276.6% | -1,392.6% |
| Free cash flow | -55.9 k | -1.3 m | -8.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 6.0 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- -2.9 m USD
- Total assets
- 13.8 m USD
- Debt / equity
- unavailable
- Current ratio
- 5.88x
- ROE
- unavailable
- ROA
- -80.5%
- FCF margin
- -1,346.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 350.1 k | 510.4 k | 596.8 k | SEC (XBRL)· 30 Apr 2026verified |
| Cost of revenue | 196.7 k | 355.0 k | 429.4 k | SEC (XBRL)· 30 Apr 2026verified |
| Gross profit | 153.4 k | 155.4 k | 167.4 k | SEC (XBRL)· 30 Apr 2026verified |
| Research & development | — | 491.4 k | 1.6 m | SEC (XBRL)· 30 Apr 2026verified |
| Operating income | -9.8 k | -1.5 m | -5.3 m | SEC (XBRL)· 30 Apr 2026verified |
| Interest expense | 2.1 k | 772 | — | SEC (XBRL)· 30 Apr 2026verified |
| Pre-tax income | 17.7 k | -1.4 m | -8.3 m | SEC (XBRL)· 30 Apr 2026verified |
| Income tax | 4.1 k | 25.1 k | -1.5 k | SEC (XBRL)· 30 Apr 2026verified |
| Net income | 13.6 k | -1.4 m | -8.3 m | SEC (XBRL)· 30 Apr 2026verified |
| Diluted EPS | 0.00 | -0.02 | -0.12 | SEC (XBRL)· 30 Apr 2026verified |
| Weighted average diluted shares | 64.7 m | 64.7 m | 66.7 m | SEC (XBRL)· 30 Apr 2026verified |
Balance sheet · USD
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 87.1 k | 3.1 m | 6.0 m | SEC (XBRL)· 30 Apr 2026verified |
| Receivables | — | 86.6 k | 167.5 k | SEC (XBRL)· 30 Apr 2026verified |
| Inventories | — | 37.3 k | 1.9 m | SEC (XBRL)· 30 Apr 2026verified |
| Current assets | — | 3.5 m | 9.7 m | SEC (XBRL)· 30 Apr 2026verified |
| Property, plant & equipment, net | — | 64.4 k | 59.3 k | SEC (XBRL)· 30 Apr 2026verified |
| Intangibles (excl. goodwill) | — | 2.7 m | 2.6 m | SEC (XBRL)· 30 Apr 2026verified |
| Total assets | — | 6.9 m | 13.8 m | SEC (XBRL)· 30 Apr 2026verified |
| Accounts payable | — | 26.9 k | 413.3 k | SEC (XBRL)· 30 Apr 2026verified |
| Current liabilities | — | 263.1 k | 1.6 m | SEC (XBRL)· 30 Apr 2026verified |
| Total liabilities | — | 274.0 k | 16.6 m | SEC (XBRL)· 30 Apr 2026verified |
| Equity | 23.0 k † | 6.6 m † | -2.9 m † | SEC (XBRL)· 30 Apr 2026verified |
| Shares outstanding at year end | — | — | 70.8 m | SEC (XBRL)· 30 Apr 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | -55.7 k | -1.2 m | -6.6 m | SEC (XBRL)· 30 Apr 2026verified |
| Capex | 290 | 74.9 k | 1.4 m | SEC (XBRL)· 30 Apr 2026verified |
| Free cash flow | -55.9 k ≈ | -1.3 m ≈ | -8.0 m ≈ | SEC (XBRL)· 30 Apr 2026derived |
| Investing cash flow | -290 | -2.9 m | -1.4 m | SEC (XBRL)· 30 Apr 2026verified |
| Financing cash flow | 113.9 k | 7.1 m | 10.9 m | SEC (XBRL)· 30 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 25.0% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 492.0 m USD
Key indicators
Coverage and freshness
Score by group
25% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -1,392.6% | 9 (vs peers) | 25% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -6,828.7x | 0 (on a fixed band) | 25% |
| Current ratio · Balance sheet | 5.9x | 100 (on a fixed band) | 17% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -1.6% | 0 (on a fixed band) | 33% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial9/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
YD Bio Limited (YDES). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 596.8 k USD in 2025; YoY growth 16.9%; net margin -1,392.6%; ROE -445.1%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 5.9x
What contradicts it
- Net margin: -1,392.6%
- Interest coverage: -6,828.7x
- FCF yield: -1.6%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Services-Medical Laboratories (SIC 8071) · same industry (4-digit SIC) · compared with 23 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| NTRANatera, Inc. | 56.4 bn | — | -12.5% | -7.1% | +35.9% | +64% / +599% |
| LHLabcorp Holdings Inc. | 29.9 bn | 30.2 | 11.4% | 6.9% | +7.2% | +37% / +70% |
| DGXQuest Diagnostics Inc | 28.1 bn | 25.5 | 15.2% | 9.5% | +11.8% | +35% / +86% |
| GHGuardant Health, Inc. | 22.6 bn | — | — | -38.3% | +32.9% | +55% / +570% |
| CAICaris Life Sciences, Inc. | 9.5 bn | 97.6 | 17.2% | 9.2% | +97.0% | +30% / unavailable |
| GRALGRAIL, Inc. | 6.4 bn | — | -16.1% | -236.9% | +17.2% | +30% / unavailable |
| RDNTRadNet, Inc. | 6.3 bn | — | -2.1% | -0.9% | +11.5% | −3% / +142% |
| CDNACaredx, Inc. | 4.5 bn | 35.9 | 33.0% | 25.9% | +13.8% | +380% / +784% |
| VCYTVeracyte, Inc. | 4.2 bn | 37.5 | 8.8% | 20.4% | +16.0% | +11% / +105% |
| FTREFortrea Holdings Inc. | 2.0 bn | — | -12.3% | -2.6% | +1.0% | +64% / −29% |
| PSNLPersonalis, Inc. | 1.7 bn | — | -62.1% | -147.7% | −17.7% | +47% / +932% |
| BLLNBillionToOne, Inc. | 1.3 bn | 118.4 | 30.2% | 11.3% | +100.0% | −13% / unavailable |
| CSTLCastle Biosciences, Inc. | 1.1 bn | — | -4.2% | -5.4% | +3.7% | −11% / +79% |
| FLGTFulgent Genetics, Inc. | 541.5 m | — | -8.0% | -26.0% | +13.8% | −33% / −29% |
| YDESYD Bio Limited | 492.0 m | — | -445.1% | -1,392.6% | +16.9% | −36% / unavailable |
| BDSXBiodesix, Inc. | 226.7 m | — | -540.0% | -27.0% | +24.1% | +160% / −28% |
| XGNExagen Inc. | 206.2 m | — | -113.8% | -26.6% | +19.7% | +8% / +363% |
| SERASera Prognostics, Inc. | 59.0 m | — | -49.7% | -34,866.7% | +5.2% | −39% / +4% |
| AMSAmerican Shared Hospital Services | 8.2 m | — | -7.5% | -5.8% | −0.9% | −43% / −48% |
| MDXHMdxhealth SA | 8.0 m | — | -2,440.4% | -31.1% | +19.8% | −96% / −95% |
| ACONAclarion, Inc. | 5.0 m | — | -59.0% | -10,978.5% | +65.6% | −72% / −100% |
| ADVBAdvanced Biomed Inc. | 3.5 m | 0.4 | 84.8% | 5,231.3% | unavailable | −75% / unavailable |
| BGLCBioNexus Gene Lab Corp. | 2.8 m | — | -33.7% | -82.4% | −21.9% | −79% / −90% |
| BNRBurning Rock Biotech Limited | 0 | — | -10.1% | -10.3% | +9.2% | −41% / +55% |
1- and 3-year price returns: for YDES from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Apr 2026; since then the company filed 6-K (01 Sept 2026), 6-K (11 Aug 2026), 6-K (01 May 2026).
In brief
YD Bio Limited is a biotechnology company with activities in DNA methylation-based oncology diagnostics, life science clinical services and the commercialization of ophthalmic and consumer health products. The company is expanding through transactions announced in 2026, while capital expenditures fell from 2.9 million USD in 2024 to 1.4 million USD in 2025 1.
SWOT
Strengths
- A patent portfolio and exclusive licences in DNA methylation, cited in the report as a competitive advantage.
- An integrated platform combining diagnostics, clinical services and health product commercialization.
- A management team with experience in drug development and finance, described as founder-led.
Weaknesses
- None of the cancer detection products has FDA clearance, and the report does not indicate clinical trials for them.
- There is substantial doubt about going-concern status, meaning additional financing may be needed.
- Reliance on third-party licence agreements and partner laboratories limits control over operations.
Opportunities
- Expansion into new states and Asia could widen the customer base if registration plans succeed.
- If the announced transactions close, the company could integrate several oncology technologies into one platform.
- The partnership with YC Biotech could generate revenue from regulatory services for Asian clients.
Threats
- Competition from well-financed biopharma companies and new detection technologies could reduce market share.
- Regulatory changes or FDA delays could limit commercialization of the products.
- Geopolitical tensions and natural hazards in Taiwan could disrupt the main operations.
Risks
- Going concernhigh
The report flags substantial doubt about the company's ability to continue as a going concern, which could require additional financing in the near term.
- FDA clearancehigh
Obtaining FDA clearance or approval for diagnostic products is a complex and costly process, with no assurance of a favourable outcome.
- Dependence on third-party licencesmedium
The business depends on licence agreements with third parties, and if these change or end, operations could be affected.
- Taiwan geopolitical riskmedium
Strained relations between Taiwan and China and natural hazards could disrupt operations and the value of the shares.
- Transaction integrationmedium
The merger memorandum is non-binding and the SSMC acquisition depends on definitive agreements; failure of either could affect growth plans.
Investment thesis
What would need to be true (bull case)
- If the diagnostic platform gains clearance and expands its coverage, the company could benefit from a rapidly growing oncology market.
- Integration with EG BioMed and SSMC could create an end-to-end chain from detection to therapy, which could raise the value of the assets.
- A patent portfolio issued in several countries could support licensing and strategic partnerships.
What would break the thesis
- Without FDA approval for its main products, revenue could remain limited over the medium term.
- Doubts about going-concern status could force shareholder dilution through new share issues.
- Competition from companies with larger resources could reduce the company's market share.
What to watch
- Filing of the IND application for the dry eye programme with the FDA2026
- Completion or failure of definitive agreements with EG BioMed and SSMC2026
- Start of the Phase I trial for the dry eye programme2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Apr 2026; since then the company filed 6-K (01 Sept 2026), 6-K (11 Aug 2026), 6-K (01 May 2026).
The business
YD Bio Limited, registered in the Cayman Islands with its principal executive office in Taipei, became a listed company through a business combination completed on August 28, 2025 1. Its activities include DNA methylation-based oncology testing in the US under an LDT framework, in collaboration with CLIA-certified and CAP-accredited laboratories, as well as distribution and supply chain services for clinical trials 1. The company also commercializes ocular health products in the US and distributes consumer health products in Asia 1. According to the report, it has not yet obtained FDA clearance or approval for any of its cancer detection products 1.
The EG Telehealth Platform, launched on March 31, 2026 with EG BioMed, routes tests only through a licensed physician rather than directly to consumers 1. In parallel, the partnership with YC Biotech aims to build a platform supporting IND, NDA and BLA regulatory and clinical work on a project-by-project basis 1.
The company also presents a cell and exosome development portfolio, mainly for ophthalmology programs, with plans to file IND applications with the FDA in 2026 and to start Phase I trials in 2027, subject to timing uncertainties 1. Management has indicated these milestones depend on preclinical results, manufacturing readiness and regulatory feedback 1.
Segments
Oncology diagnostics
The diagnostics segment offers LDTs for detection and monitoring of pancreatic, breast, colorectal and gastrointestinal cancers through the online platform of affiliate EG BioMed, with stated coverage in 44 US states, Washington D.C. and Guam 1. The company plans additional state registrations in 2026, but timing and outcomes remain uncertain 1.
Clinical and life science services
The company provides life science distribution and clinical trial supply chain support, including procurement, logistics coordination and compliance support for development programs 1. It presents itself as a clinical testing supplier to global pharmaceutical companies, citing relationships with Novartis and Alcon 1.
Ocular and consumer health products
The US ocular health commercialization and Asian consumer health distribution complement the portfolio, although the report does not break out how much revenue these lines contribute 1.
Market context
According to Precedence Research, the US cancer diagnostics market was valued at approximately 40.44 billion USD in 2025 1. Grand View Research estimates the global breast cancer diagnostics market at 5.86 billion USD in 2025, with a compound annual growth rate of 8.8% from 2026 to 2033 1.
For pancreatic cancer, Vision Research Reports estimates the global market at 2.68 billion USD in 2024 and a compound annual growth rate of 13.8% from 2025 to 2034, while other sources cited in the report are considerably more conservative 1. The report also notes that about 67,440 new pancreatic cancer cases are expected in the US in 2025 1.
Trends
- Rising demand for early detectiontailwind
Demand for early detection, advances in precision diagnostics and oncology investment are cited by market sources as growth drivers, which could support demand for the company's tests 1.
- FDA regulatory uncertaintyheadwind
The LDT regime changed after a federal court decision in March 2025, and FDA approvals for the company's products have not yet been obtained, which could delay commercial expansion 1.
- Consolidation through transactionsmixed
The company announced a merger memorandum with EG BioMed and a letter of intent to acquire SSMC, which could accelerate development but depends on definitive agreements being signed 1.
- Funding pressureheadwind
The report mentions substantial doubt about going concern, meaning execution of plans depends on available capital 1.
Competitive position
The company states it faces competition from well-financed biopharmaceutical companies, and that new cancer detection technologies developed by others could affect its position 1. The report does not provide a quantitative market share analysis.
According to the source, differentiation rests on its patent portfolio, exclusive licensing agreements and an integrated diagnostics, clinical and commercialization platform 1.
- Guardant HealthGH
Named in the report as an FDA-approved cancer test requiring physician involvement, a reference point for the company's products.
- Shield cancer test
Named in the report as an FDA-approved cancer test that can be accessed through consumer-facing platforms.
- Alcon
Named in the report as a clinical testing client, relevant to the ocular segment.
- Novartis
Named in the report as a clinical testing client, relevant to the clinical services segment.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)01 Sept 2026
- Current report (foreign issuer)11 Aug 2026
- Current report (foreign issuer)01 May 2026
- Annual report (foreign issuer)30 Apr 2026
- Current report (foreign issuer)26 Feb 2026
- Current report (foreign issuer)30 Jan 2026
- Current report (foreign issuer)21 Jan 2026
- Current report (foreign issuer)16 Jan 2026
- Current report (foreign issuer)15 Jan 2026
- Current report (foreign issuer)06 Jan 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / YD Bio Limited · 30 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.