Abpro Holdings, Inc. (ABPO)

Price$0.2293Cached quoteAs of 2026-09-04 16:23 UTC

AI: Fair-priced

Active OTC security, but Nasdaq delisting materially reduced liquidityABPO remains an actively quoted OTC Pink Limited security rather than an inactive or cancelled issue, and live searches found current SEC reporting through a September 1, 2026 Form 8-K.

Nasdaq trading was suspended February 23, 2026 after Abpro failed listing requirements, and the Nasdaq Listing and Hearing Review Council upheld the delisting on May 28. The June 2026 10-Q states that OTC trading may bring reduced transparency, liquidity and market-maker participation, greater volatility and weaker capital-raising ability. The latest reliable close located was $0.38 on September 16, 2026.

Tiny valuation offsets a deeply negative balance-sheet positionAt $0.38 and 5,896,048 shares outstanding, ABPO implies an equity value of roughly $2.24 million, but June 30 stockholders' deficit was $2.984 million.

Abpro reported $5.241 million of total assets versus $8.225 million of current liabilities at June 30, including $4.236 million cash. Thus the low market capitalization reflects genuine distress rather than an obviously cash-backed bargain. Conversely, the clinical-stage Celltrion collaboration gives the equity contingent asset value that book value does not capture, making a Fair-priced classification more defensible than a conventional earnings-based valuation.

No revenue, ongoing losses and substantial going-concern riskAbpro generated no revenue during the first six months of 2026 and reported a $1.968 million net loss and $2.108 million operating loss.

Operating cash use was $3.134 million for the six months ended June 30. Management explicitly concluded that substantial doubt exists about continuing as a going concern for one year and said existing cash was insufficient for at least 12 months given current liabilities. The company had a $120.963 million accumulated deficit and expects continued operating losses.

Clinical optionality is meaningful, but financing and dilution risk remain extreABP-102/CT-P72 has progressed into Phase 1 patient dosing through partner Celltrion, while Abpro's own R&D activity has been sharply reduced.

Celltrion reported July 29 that CT-P72 was among four oncology candidates in the patient-dosing stage. Abpro is eligible under its Celltrion agreement for up to $4 million of development milestones and up to $1.75 billion of net-sales milestones, but no additional milestones had been earned through June 30. Abpro also said most R&D personnel had been furloughed and subsequently terminated. To fund itself, it issued 3,162,785 shares for $7.264 million gross under its SEPA in January-February 2026; shares outstanding rose from 2,733,263 at year-end 2025 to 5,896,048, and Nasdaq delisting subsequently prevented further use of that SEPA under its existing requirements.

AI: News

CEO and chairman transition completed in AugustMiles Suk resigned as CEO effective August 19 and as chairman effective August 25, while remaining a director; M. Fatih Karatas became interim CEO effective August 25.

The company stated Suk's departures were not caused by disagreements over operations, policies or practices. Termination of his consulting agreement requires approximately $50,000 of payments over 60 days. The August 31-filed 8-K said the board intended to appoint a successor chair at its next regularly scheduled meeting.

ABP-102/CT-P72 reached human dosing stageCelltrion reported on July 29 that CT-P72, Abpro's partnered HER2×CD3 multispecific antibody, had entered the patient-dosing stage in Phase 1.

FDA IND clearance was announced in January 2026, and Celltrion is leading clinical development. Advancement into dosing improves the program's development status, but no human efficacy results were reported in the sources reviewed as of September 17, so valuation remains highly dependent on future safety, efficacy and milestone outcomes.

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Revenue

2022

2023

2024

2025

Net income

2022

2023

2024

2025

Free cash flow

2022

2023

Total cash / debt

CashTotal debt

2022

2023

2024

2025

Financial statements

	2025	2024	2023	2022
Revenue	$0	$183,000	$122,000	$2.0M
Research & development	$989,000	$3.0M	$4.3M	$9.8M
Operating expenses	$8.5M	$10.1M	$11.9M	$18.7M
Operating income	−$8.5M	−$9.9M	−$11.7M	−$2.1M
Operating margin	—	−5,421.31%	−9,627.87%	−101.06%
EBITDA	−$8.4M	−$9.8M	−$11.5M	−$15.8M
EBITDA margin	—	−5,380.87%	−9,399.18%	−777.77%
Net income	−$2.9M	−$7.2M	$2.8M	$886,918
Net profit margin	—	−3,951.91%	2,312.67%	43.71%
Basic EPSper basic share	-$1.30	-$22.31	-$18.30	-$10.22
Diluted EPSper diluted share	-$1.30	-$22.31	-$18.30	-$10.22

Review official source filings ↗

Owners

Reported shareholders

Ownership data is not available for this listing yet.

Insider buys & sells

Jul 1, 2024–Jun 30, 2026

Buys5$36.6K disclosed value

Sells (SEC code S)0$0.00 disclosed value

Transaction	Insider	Type	Shares	Price	Value	Owned after
Jul 31, 2025Form 4	Suk Jin Wook (Miles)CEO and Chairman	BuyCommon Stock, par value $0.0001 per share	72.0K	$0.28	$20.2K	718.5K
May 19, 2025Form 4	Suk Jin Wook (Miles)CEO and Chairman	BuyCommon Stock, par value $0.0001 per share	16.2K	$0.26	$4.2K	146.5K
Apr 29, 2025Form 4	Suk Jin Wook (Miles)CEO and Chairman	BuyCommon Stock, par value $0.0001 per share	4.3K	$0.25	$1.1K	130.3K
Apr 24, 2025Form 4	Suk Jin Wook (Miles)CEO and Chairman	BuyCommon Stock, par value $0.0001 per share	26.5K	$0.34	$9.0K	125.9K
Apr 23, 2025Form 4	Suk Jin Wook (Miles)CEO and Chairman	BuyCommon Stock, par value $0.0001 per share	7.5K	$0.28	$2.1K	99.4K

Review ownership filings at SEC.gov ↗

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Abpro Holdings, Inc. (ABPO)

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