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Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Duality Biotherapeutics had a gross margin of -109.68% for the quarter that ended in Jun. 2026 => No sustainable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Duality Biotherapeutics Gross Margin % Related Terms
Duality Biotherapeutics Gross Margin % Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Duality Biotherapeutics Gross Margin % Chart
Duality Biotherapeutics Annual Data
Trend
Dec22
Dec23
Dec24
Dec25
Gross Margin %
-12.19
75.78
40.02
31.42
Duality Biotherapeutics Semi-Annual Data
Jun25
Dec25
Jun26
Gross Margin %
47.72
-0.65
-109.68
HKSE:09606 vs VRTX, REGN, MRNA: Gross Margin % Comparison
For the Biotechnology subindustry, Duality Biotherapeutics's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Duality Biotherapeutics Gross Margin % vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Duality Biotherapeutics's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Duality Biotherapeutics's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Duality Biotherapeutics (HKSE:09606) has a Gross Margin % of -109.68% as of Jun. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Duality Biotherapeutics and its competitors. According to the industry distribution chart, Duality Biotherapeutics ranks #699 out of 736 companies in the Biotechnology industry, placing it in the top 95%.
Is Duality Biotherapeutics' Gross Margin % too high?
Duality Biotherapeutics' current Gross Margin % is -109.68%. Based on the distribution chart, Duality Biotherapeutics ranks #699 out of 736 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Duality Biotherapeutics has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Duality Biotherapeutics' Gross Margin % compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Duality Biotherapeutics ranks #699 out of 736 companies for Gross Margin %. This places Duality Biotherapeutics in the lower half of its industry. The industry median Gross Margin % is 60.89. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Biotechnology company?
The median Gross Margin % among Biotechnology companies is 60.89, based on 736 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Duality Biotherapeutics and its competitors. For the Biotechnology industry, the median Gross Margin % is 60.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Duality Biotherapeutics's current Gross Margin % is -109.68%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Duality Biotherapeutics stock overvalued right now?
Duality Biotherapeutics (HKSE:09606) has a current Gross Margin % of -109.68%. The current Gross Margin % is -109.68%. Duality Biotherapeutics' overall GF Score™ is 9/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Duality Biotherapeutics (HKSE:09606), the current Gross Margin % is -109.68% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Duality Biotherapeutics Inc is engaged in the discovery and development of antibody-drug conjugate (ADC) therapeutics, focusing on treatments for cancer and other diseases. The company has a diversified pipeline of ADC candidates, including two core products: DB-1303/BNT323, a HER2-targeting ADC for cancers such as breast and endometrial cancer, and DB-1311/BNT324, a B7-H3-targeting ADC for multiple solid tumors. In addition, it has several other clinical-stage ADC candidates with therapeutic potential, as well as multiple preclinical ADCs, including candidates expected to enter clinical trials. Its key products, including DB-1303/BNT323, DB-1311/BNT324, and DB-1305/BNT325, have received Fast Track Designation, with DB-1303 being a late-stage candidate undergoing registrational studies.
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