Active Biotech AB (ACTI) AI Stock Analysis

• Market Cap: kr122.05M
• Dividend Yield: N/A
• Average Volume (3M): 4.56M
• Price to Earnings (P/E): ―
• Beta (1Y): -1.23
• Revenue Growth: N/A
• EPS Growth: 28.54%
• Country: SE
• Employees: 6
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): >-0.01
• Shares Outstanding: 2,636,067,100
• 10 Day Avg. Volume: 2,218,804
• 30 Day Avg. Volume: 4,558,826
• PEG Ratio: 0.03
• Price to Book (P/B): 1.43
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.13
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: kr0.04 ▲(7.50% Upside)

The score is driven primarily by very weak financial performance (no revenue, ongoing large losses, and heavy cash burn with shrinking equity), which increases funding risk. Technical indicators also point to a sustained bearish trend (below major moving averages with negative MACD). Valuation provides limited support because a negative P/E reflects unprofitable operations and no dividend yield data is available.

Positive Factors

Patent Protection

Securing a US patent for tasquinimod enhances Active Biotech's competitive advantage by ensuring market exclusivity, which can strengthen its position in oncology and immunology markets.

Funding Secured

The successful rights issue provides financial resources to support strategic projects, ensuring the company's ability to advance key drug developments until the end of 2027.

Positive Preclinical Data

Positive preclinical results for tasquinimod in treating myelofibrosis can enhance Active Biotech's market position in rare blood cancer treatments, potentially leading to successful clinical trials.

Negative Factors

Zero Revenue

The absence of revenue indicates reliance on external funding and partnerships, which poses a risk to financial stability if milestones are not met.

Persistent Losses

Ongoing large losses highlight structural profitability challenges, necessitating successful drug development and partnerships to achieve financial sustainability.

Cash Burn

Substantial cash burn without offsetting revenue increases funding risk, potentially leading to further dilution or financial distress if not addressed.

Active Biotech AB Business Overview & Revenue Model

Company Description

Active Biotech AB (publ), a biotechnology company, develops pharmaceutical products the treatment of oncology and immunology diseases in Sweden. It is developing Tasquinimod, a small molecule immuno-modulator, which is in Phase Ib/IIa clinical trial to treat multiple myeloma; Laquinimod, an immunomodulator that is in phase I clinical trial for the treatment of inflammatory eye disorders, including uveitis; and Naptumomab, an anti-cancer immunotherapy, which is in phase Ib/II clinical trial to treat patients with advanced solid tumors. The company has a licensing agreement with NeoTX Therapeutics Ltd. for the development and commercialization of Naptumomab for cancer immunotherapy. Active Biotech AB (publ) was incorporated in 1983 and is headquartered in Lund, Sweden.

How the Company Makes Money

Active Biotech AB generates revenue primarily through partnerships and collaborations with larger pharmaceutical companies. These partnerships often involve licensing agreements, where Active Biotech licenses its drug candidates to partners for further development and commercialization. In return, Active Biotech receives upfront payments, milestone payments based on the achievement of specific developmental or regulatory milestones, and royalties on future sales of the licensed products. The company's revenue model is heavily reliant on the successful progression of its drug candidates through clinical trials, as well as the ability to secure and maintain strategic partnerships with industry leaders.

Active Biotech AB Financial Statement Overview

Summary

Active Biotech AB faces significant financial challenges, with no revenue generation and persistent losses. The low debt level on the balance sheet is positive, but the negative cash flow and lack of revenue are critical concerns, highlighting the need for better financial stability.

Income Statement

Active Biotech AB has consistently reported zero revenue for the past several years, indicating a lack of commercial success or monetization in its operations. The company has been operating at a net loss, with substantial negative EBIT and EBITDA margins, reflecting challenges in cost management and scalability. The absence of revenue growth and negative profit margins further highlight significant financial hurdles.

Balance Sheet

The company has maintained a low debt level, with Total Debt being zero in the latest report, which is a positive indication of financial prudence. The Stockholders' Equity has remained relatively stable, indicating a reasonable equity base. However, the overall equity ratio is moderate, suggesting a balanced but not overly strong financial position. Despite these strengths, the lack of revenue generation remains a critical concern.

Cash Flow

Active Biotech AB has been experiencing negative free cash flow, which reflects ongoing operational losses and insufficient cash generation to cover costs. The substantial operating cash outflows indicate a challenging environment for achieving profitability. Although financing cash flows have been positive, suggesting some external capital influx, the dependency on such measures is not sustainable in the long term.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	6.72M
Gross Profit	-1.20M	-1.64M	-1.68M	-1.49M	-1.28M	6.72M
EBITDA	-38.90M	-38.30M	-43.89M	-56.67M	-48.52M	-30.84M
Net Income	-38.40M	-39.40M	-45.80M	-58.69M	-49.88M	-32.12M
Balance Sheet
Total Assets	17.00M	43.20M	44.05M	51.01M	56.80M	32.16M
Cash, Cash Equivalents and Short-Term Investments	9.10M	27.40M	36.22M	41.80M	53.13M	26.21M
Total Debt	400.00K	3.18M	4.54M	6.04M	986.00K	2.00M
Total Liabilities	12.50M	11.13M	13.38M	16.49M	10.13M	10.04M
Stockholders Equity	4.50M	32.07M	30.67M	34.51M	46.67M	22.11M
Cash Flow
Free Cash Flow	-36.90M	-40.40M	-45.74M	-55.09M	-46.17M	-32.22M
Operating Cash Flow	-36.90M	-40.40M	-45.74M	-54.85M	-46.17M	-32.22M
Investing Cash Flow	0.00	0.00	0.00	-245.00K	0.00	0.00
Financing Cash Flow	39.80M	31.60M	40.16M	43.76M	73.09M	-1.25M

Active Biotech AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.04
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ACTI, the sentiment is Negative. The current price of 0.04 is below the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.06, and below the 200-day MA of 0.11, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 36.09 is Neutral, neither overbought nor oversold. The STOCH value of 58.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ACTI.

Active Biotech AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ELIC	47 Neutral	kr250.93M	-15.05	-48.30%	―	―	52.96%
ISOFOL	44 Neutral	kr205.49M	-2.55	-51.35%	―	―	-34.02%
XINT	44 Neutral	kr257.52M	-4.66	―	―	-7.68%	17.93%
ACTI	41 Neutral	kr122.05M	-1.45	-1291.15%	―	―	28.54%
IRLAB.A	40 Underperform	kr172.42M	-1.29	-199.86%	―	69.03%	23.10%

Active Biotech AB Corporate Events

Active Biotech Secures Funding Through Successful Rights Issue

Active Biotech AB announced the successful outcome of its rights issue, which was subscribed to approximately 82.8 percent, raising approximately SEK 70.3 million before issuing costs. This funding will support the company’s strategic focus on developing tasquinimod for myelofibrosis and advancing laquinimod for inflammatory eye diseases, ensuring the programs are fully funded until the end of 2027.

Active Biotech Secures US Patent for Tasquinimod Formulation

Active Biotech announced that its patent for a pharmaceutical formulation of tasquinimod will be granted in the US, providing protection and market exclusivity until 2042. This development is a significant step in the company’s strategy to enhance global protection for tasquinimod, which is being developed for hematological malignancies and has shown therapeutic potential in multiple myeloma and myelofibrosis. The patent grant is expected to strengthen Active Biotech’s position in the biotechnology industry, particularly in oncology and immunology, and may have positive implications for stakeholders by potentially increasing the company’s market share and competitive edge.

Active Biotech Launches Rights Issue to Fund Key Projects

Active Biotech AB has initiated a rights issue to raise approximately SEK 70.3 million, with an additional SEK 10.0 million possible through an over-allotment option. The funds will support ongoing studies and business development activities, potentially impacting the company’s operations and market positioning by advancing their clinical projects.

Active Biotech’s Tasquinimod Shows Promise in Myelofibrosis Treatment

Active Biotech announced positive preclinical data for tasquinimod, a small molecule immunomodulator, in treating myelofibrosis, published in the journal Blood Advances. The study, conducted in collaboration with MD Anderson Cancer Center, showed that tasquinimod reduces disease cell expression and improves survival in advanced myelofibrosis models. These findings support ongoing clinical trials of tasquinimod as both monotherapy and in combination with other drugs, potentially enhancing Active Biotech’s position in the treatment of rare blood cancers.

Active Biotech Announces SEK 70 Million Rights Issue

Active Biotech AB has announced a rights issue of shares amounting to approximately SEK 70 million, approved by the extraordinary general meeting. The company has published an information document regarding this rights issue, which has been registered with the Swedish Financial Supervisory Authority. This move is expected to support the company’s ongoing clinical development projects and strengthen its financial position, potentially impacting its market presence in the biotechnology sector.

Active Biotech AB Approves Share Capital Amendments and Rights Issue

Active Biotech AB held an Extraordinary General Meeting on November 19, 2025, where key resolutions were passed to amend the company’s Articles of Association and approve a rights issue of shares. The rights issue aims to issue over 1.4 billion new shares at a subscription price of SEK 0.05 per share, with a record date of November 21, 2025, and a subscription period from November 25 to December 9, 2025. The company also authorized the Board to issue new shares without pre-emptive rights for shareholders, potentially impacting the company’s capital structure and attracting new investors.

Active Biotech to Present Promising Tasquinimod Data at ASH 2025

Active Biotech announced that preclinical data on tasquinimod combined with T cell activation will be presented at the ASH 2025 conference. The data demonstrates enhanced anti-tumor effects in multiple myeloma models, suggesting potential improvements in immunotherapy efficacy. This development could strengthen Active Biotech’s position in the hematological cancer treatment market and offer promising implications for stakeholders.

Active Biotech Secures SEK 70 Million for Key Drug Developments

Active Biotech AB has announced a fully secured rights issue to raise approximately SEK 70 million, aimed at funding ongoing studies of tasquinimod in myelofibrosis and the development of laquinimod for inflammatory eye diseases. This financial move is expected to support the company’s strategic focus on advancing its clinical trials and business development activities, potentially enhancing its position in the biotech industry by addressing diseases with high unmet medical needs.

Active Biotech Announces Extraordinary General Meeting for Strategic Changes

Active Biotech AB has announced an Extraordinary General Meeting to discuss significant changes, including amendments to the Articles of Association and a new share issue. The proposed changes aim to increase the company’s share capital and authorize the Board to issue new shares, potentially impacting the company’s financial structure and attracting new investors.