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MedinCell SA (FR:MEDCL)
:MEDCL
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MedinCell SA
(MEDCL)
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Rating:46Neutral
Price Target:
€26.00
▲(3.26% Upside)
MedinCell SA's overall stock score is primarily influenced by its financial performance challenges, including high leverage and negative profitability. Technical indicators suggest bearish momentum, while valuation metrics reflect ongoing losses. The earnings call provided some optimism with strategic growth initiatives and potential milestones, but financial risks remain significant.
Positive Factors
Revenue Growth
Significant revenue growth indicates strong demand for MedinCell's products and successful R&D partnerships, enhancing long-term business prospects.
Strategic Partnerships
The partnership with AbbVie, including potential milestones and royalties, strengthens MedinCell's pipeline and market position, supporting future growth.
Cash Position
A robust cash position provides MedinCell with financial stability to support ongoing R&D investments and strategic initiatives over the next two years.
Negative Factors
Profitability Challenges
Persistent negative margins highlight ongoing operational challenges, which could hinder MedinCell's ability to achieve sustainable profitability.
High Leverage
High leverage poses financial risks, limiting MedinCell's flexibility to invest in growth opportunities and potentially impacting long-term financial health.
Operating Expenses
Rising operating expenses, despite being covered by partnerships, may pressure margins and challenge MedinCell's cost management efforts in the long term.
MedinCell SA (MEDCL) vs. iShares MSCI France ETF (EWQ)
Market Cap
€839.54M
Dividend YieldN/A
Average Volume (3M)179.66K
Price to Earnings (P/E)―
Beta (1Y)0.92
Revenue Growth166.31%
EPS Growth43.80%
CountryFR
Employees131
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.18
Shares Outstanding33,345,783
10 Day Avg. Volume204,359
30 Day Avg. Volume179,664
Financial Highlights & Ratios
PEG Ratio0.80
Price to Book (P/B)-25.60
Price to Sales (P/S)16.41
P/FCF Ratio23.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€34.30Price Target Upside36.22% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
MedinCell SA Business Overview & Revenue Model
Company DescriptionMedinCell S.A. develops various therapeutic solutions. It develops solutions based on BEPO, a technology for long-acting injectable products based on proprietary copolymers and a biocompatible solvent, which solubilizes or suspends the active pharmaceutical ingredients. The company's products in development include mdc-IRM, a subcutaneous injection in Phase III trials for use in the treatment of schizophrenia; mdc-CWM, an intra-articular injection to treat pain and inflammation; and mdc-TJK, a subcutaneous injection in preclinical trials for use in the treatment of schizophrenia. Its product candidates in formulation research comprise subcutaneous injections, such as mdc-WWM for contraception; mdc-ANG for CNS related treatments; mdc-ELK for depression; and mdc-GRT for use in organ transplant, as well as perineural injections, including mdc-CMV for anesthesia and pain, and mdc-NVA for pain. The company is based in Jacou, France.
How the Company Makes MoneyMedinCell generates revenue through a combination of collaborative partnerships, licensing agreements, and product sales. The company partners with pharmaceutical companies to develop and commercialize its drug delivery solutions, often receiving upfront payments, milestone payments based on development progress, and royalties from product sales. These collaborations are crucial as they provide funding for research and development while sharing the financial risks associated with bringing new therapies to market. MedinCell's revenue model is further supported by its ability to create a diverse portfolio of products targeting unmet medical needs, enhancing its attractiveness to potential partners and investors.
MedinCell SA Earnings Call Summary
Earnings Call Date:Dec 09, 2025
(Q2-2026)
| % Change Since: |
Next Earnings Date:Jun 16, 2026
Earnings Call Sentiment Positive
The earnings call presented a generally positive outlook for MedinCell, emphasizing significant milestones such as the FDA filing of Olanzapine LAI and robust growth in UZEDY sales. Despite some financial challenges due to currency fluctuations and non-cash impacts, the company's strategic initiatives and pipeline expansions suggest a promising future.Q2-2026 Updates
Positive Updates
Olanzapine LAI FDA Filing
Teva filed the Olanzapine LAI at the FDA, with a potential approval expected in Q4 2026. This filing is seen as a major milestone for MedinCell and is expected to significantly accelerate growth.
UZEDY Sales Growth
UZEDY's prescription growth continues, with Teva confirming sales guidance of $190 million to $200 million for 2025. UZEDY is also approved for the treatment of bipolar I disorder in the U.S. and has been launched in South Korea and Canada.
R&D Revenue Increase
MedinCell reported a 50% increase in revenue for the period, largely due to R&D partnerships and increased royalties from UZEDY, which accounted for a third of the revenue.
Pipeline Expansion
MedinCell announced it will launch its first program with AbbVie into Phase I in 2026, with potential milestones of $315 million and royalties in the low double digits.
Financial Position
The company ended September with EUR 53 million in cash, providing visibility for at least two years. The cash position supports ongoing R&D investments and future growth.
Negative Updates
Impact of Weak U.S. Dollar
The weak U.S. dollar negatively impacted MedinCell's financial results, contributing to a 13% operating loss improvement, but potentially delaying return to profitability.
EIB Warrant Valuation Impact
There was a non-cash impact of EUR 6.8 million due to changes in the fair value of EIB warrants, linked to a 65% increase in MedinCell's stock price.
OpEx Increase
Operating expenses increased by 22%, mainly due to higher R&D costs, although these are mostly covered by partnerships.
Company Guidance
During the call, MedinCell provided comprehensive guidance on its strategic growth, focusing on its key products and future prospects. They highlighted the recent filing of Olanzapine LAI with the FDA, with an expected approval by Q4 2026, which could bring a $4 million milestone upon approval and $105 million in commercial milestones. MedinCell's partner, Teva, confirmed guidance for UZEDY sales of $190-$200 million in 2025, marking significant progress with a 65% sales increase in Q3 2025 compared to the previous year. They also discussed a strategic alliance with AbbVie, with the first program ready to launch into Phase I in 2026, potentially leading to $315 million in milestones and low double-digit royalties. Additionally, MedinCell's financials showed a 50% revenue increase for the half-year ending September 30, 2025, driven by UZEDY royalties and R&D partnerships, with operating expenses rising 22% due to pipeline maturation. The company also maintains a robust cash position, providing visibility for at least two years. Looking ahead, MedinCell aims to maintain its technological leadership and expand its pipeline with multiple undisclosed programs in development across more than five therapeutic areas.MedinCell SA Financial Statement Overview
Summary
MedinCell SA exhibits strong revenue growth but faces significant profitability challenges with negative net profit and EBIT margins. The high debt-to-equity ratio and negative equity indicate financial instability, although positive operating cash flow provides some relief.Income Statement
MedinCell SA has shown significant revenue growth of 93.49% in the latest year, indicating strong top-line expansion. However, the company is struggling with profitability, as evidenced by negative net profit margins (-72.19%) and EBIT margins (-51.64%). The consistent negative margins highlight ongoing operational challenges and cost management issues.45
Neutral
Balance Sheet
The balance sheet reveals a high debt-to-equity ratio of -3.59, indicating significant leverage and potential financial risk. The negative stockholders' equity suggests that liabilities exceed assets, which is a concerning sign of financial instability. Return on equity is positive at 112.65%, but this is due to negative equity, which distorts the metric.30
Negative
Cash Flow
The cash flow statement shows a decrease in free cash flow growth (-15.33%), but the company has managed to generate positive operating cash flow. The free cash flow to net income ratio of 0.91 suggests that the company is generating cash relative to its net losses, which is a positive aspect amidst overall cash flow challenges.50
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 27.71M | 25.54M | 9.16M | 9.94M | 4.09M | 8.19M |
| Gross Profit | 16.11M | 25.54M | 9.16M | 9.94M | 4.09M | 6.74M |
| EBITDA | -18.74M | -11.20M | -18.61M | -26.41M | -21.45M | -15.38M |
| Net Income | -19.95M | -18.44M | -25.04M | -32.01M | -24.81M | -19.02M |
Balance Sheet | ||||||
| Total Assets | 74.58M | 90.45M | 36.95M | 29.34M | 44.30M | 63.61M |
| Cash, Cash Equivalents and Short-Term Investments | 53.50M | 71.90M | 19.46M | 6.47M | 26.59M | 49.87M |
| Total Debt | 58.27M | 58.76M | 58.96M | 57.71M | 47.49M | 43.34M |
| Total Liabilities | 105.21M | 106.82M | 77.77M | 71.63M | 57.67M | 54.69M |
| Stockholders Equity | -30.63M | -16.37M | -40.82M | -42.29M | -13.37M | 8.92M |
Cash Flow | ||||||
| Free Cash Flow | -17.88M | 17.80M | -13.11M | -22.03M | -23.34M | -12.96M |
| Operating Cash Flow | -17.10M | 19.46M | -11.92M | -21.00M | -21.36M | -12.14M |
| Investing Cash Flow | 685.00K | -13.21M | -613.00K | 1.30M | -316.00K | -1.06M |
| Financing Cash Flow | 34.55M | 33.32M | 25.53M | 1.56M | -800.00K | 47.92M |
MedinCell SA Technical Analysis
Negative
25.18
Price Trends
30.82
Negative
25.32
Negative
20.41
Positive
Market Momentum
-1.07
Positive
36.14
Neutral
16.99
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:MEDCL, the sentiment is Negative. The current price of 25.18 is below the 20-day moving average (MA) of 27.09, below the 50-day MA of 30.82, and above the 200-day MA of 20.41, indicating a neutral trend. The MACD of -1.07 indicates Positive momentum. The RSI at 36.14 is Neutral, neither overbought nor oversold. The STOCH value of 16.99 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:MEDCL.
MedinCell SA Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | €7.79B | -41.28 | ― | ― | ― | 18.52% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | €722.49M | -3.61 | -241.12% | ― | ― | 3.09% | |
49 Neutral | €908.69M | -26.59 | ― | ― | ― | ― | |
47 Neutral | €697.12M | -1.01 | ― | ― | -12.84% | -81.94% | |
46 Neutral | €839.54M | -41.31 | ― | ― | 166.31% | 43.80% | |
46 Neutral | €613.33M | -5.99 | -55.53% | ― | 13.48% | -1299.09% |
* Healthcare Sector Average
FR:MEDCL
MedinCell SA
25.10
8.34
49.76%
FR:ABVX
Abivax SA
115.40
108.32
1529.94%
FR:DBV
DBV Technologies
3.43
2.80
446.25%
FR:IVA
Inventiva
3.78
1.53
67.78%
FR:NANO
Nanobiotix
19.60
16.60
553.77%
FR:VLA
Valneva
3.68
1.76
92.06%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.