AlzeCure Pharma AB (ALZCUR) AI Stock Analysis

• Market Cap: kr221.21M
• Dividend Yield: N/A
• Average Volume (3M): 52.87K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.03
• Revenue Growth: N/A
• EPS Growth: 15.74%
• Country: SE
• Employees: 11
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -0.09
• Shares Outstanding: 114,914,450
• 10 Day Avg. Volume: 28,042
• 30 Day Avg. Volume: 52,872
• PEG Ratio: 0.11
• Price to Book (P/B): 3.36
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.50
• 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: 42 Neutral
• Price Target: kr2.00 ▼(-18.03% Downside)

The score is primarily weighed down by weak financial performance: no revenue, large ongoing losses, and sustained negative free cash flow indicating continued cash burn and funding risk. Technical signals are mixed with a weak longer-term trend but neutral near-term momentum. Valuation is constrained by negative earnings (negative P/E) and no indicated dividend yield.

Positive Factors

Low Financial Leverage

Very low debt-to-equity (~0.06) gives AlzeCure financial flexibility to fund R&D or absorb delays without immediate insolvency pressure. Over the next several months this structural low leverage supports pursuing partnerships or bridge financing with limited interest burden.

Asset-light Partnering Model

The company’s R&D-focused, partner-oriented model concentrates on small-molecule CNS candidates and aims to out-license or co-develop assets. This durable strategy reduces commercialization capital needs, lets external partners fund later stages, and scales progress without heavy fixed costs.

Moderation in Cash Burn

Reported improvement in free cash flow versus 2024 and non-accelerating losses indicate management has begun trimming burn or sequencing spend. This moderation enhances runway predictability over coming quarters and lowers immediate financing urgency compared with prior periods.

Negative Factors

No Revenue / Large Losses

Being pre-revenue with sizable TTM operating and net losses means the company relies entirely on external funding to continue development. Over 2–6 months this limits strategic flexibility, increases execution risk if raises are delayed, and heightens potential shareholder dilution.

Sustained Negative Cash Flow

Persistent negative operating and free cash flow demonstrates a structural cash burn model. Continued outflows will necessitate additional financing or milestone-driven partner payments, constraining the pace of R&D and raising the probability of dilutive capital raises within months.

Financing / Dilution Risk

Volatile equity and recurring deficits suggest the company will likely need recurrent external capital. With a small headcount (11 employees) and development-stage programs, limited internal resources increase dependence on market financing or partners, raising dilution and execution concentration risks.

AlzeCure Pharma AB Business Overview & Revenue Model

Company Description

AlzeCure Pharma AB (ALZCUR) is a Swedish pharmaceutical company that focuses on developing innovative therapies for neurodegenerative diseases, with a particular emphasis on Alzheimer's disease and pain management. The company operates in the biotechnology sector, leveraging its expertise in neuroscience to advance its pipeline of drug candidates. AlzeCure's core products include a range of proprietary small molecule drugs that target key pathways involved in neurodegeneration.

How the Company Makes Money

AlzeCure Pharma AB generates revenue primarily through the development and potential commercialization of its pharmaceutical candidates. The company invests in research and development to advance its drug pipeline towards clinical trials, seeking partnerships and collaborations with larger pharmaceutical firms to co-develop or license its technologies. Licensing agreements and milestone payments from such partnerships contribute significantly to the company's revenue. Additionally, AlzeCure may receive funding from grants and public or private investments to support its ongoing research efforts. The strategic focus on addressing unmet medical needs in neurodegenerative diseases positions AlzeCure to potentially capture market share upon successful drug approval and commercialization.

AlzeCure Pharma AB Financial Statement Overview

Summary

Income statement is very weak with no revenue and large ongoing losses (TTM EBIT about -39.7M; net loss about -39.2M). Cash flow remains materially negative with continued cash burn (TTM operating cash flow about -25.9M; free cash flow about -26.0M), despite some recent moderation. Balance sheet leverage is low (debt-to-equity ~0.06), but deeply negative ROE and recurring deficits imply ongoing financing/dilution risk.

Income Statement

TTM (Trailing-Twelve-Months) results show no revenue and continued heavy operating losses (EBIT about -39.7M; net loss about -39.2M). Losses have persisted across the annual periods shown, with only modest improvement versus the very weak 2020–2022 levels, indicating the business remains in an investment/burn phase with limited near-term earnings visibility. A positive is that losses are not accelerating versus prior years, but the lack of revenue and ongoing large deficits weigh heavily on quality.

Balance Sheet

Leverage appears low, with TTM (Trailing-Twelve-Months) debt modest relative to equity (debt-to-equity ~0.06), which supports financial flexibility. However, equity has been volatile over time and profitability is deeply negative (TTM return on equity about -1.58), implying ongoing dilution/financing risk if losses continue. Overall, the balance sheet is a relative strength on leverage, but weakened by recurring losses and pressure on shareholders’ capital.

Cash Flow

Cash generation is weak: TTM (Trailing-Twelve-Months) operating cash flow is about -25.9M and free cash flow about -26.0M, consistent with a sustained cash burn model. While burn improved versus 2024 (free cash flow less negative), free cash flow growth remains negative and cash flows have been highly volatile historically (including a brief positive year in 2023), which reduces predictability. The main strength is that cash burn has recently moderated, but it remains materially negative.

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	0.00
Gross Profit	-395.00K	-293.00K	-476.00K	-570.00K	-576.00K	-495.00K
EBITDA	-38.70M	-35.70M	-37.87M	-55.67M	-77.20M	-70.87M
Net Income	-39.20M	-35.23M	-37.17M	-56.04M	-77.78M	-71.37M
Balance Sheet
Total Assets	66.59M	34.44M	32.00M	70.84M	45.65M	117.83M
Cash, Cash Equivalents and Short-Term Investments	59.19M	31.50M	29.10M	25.58M	41.74M	112.43M
Total Debt	2.83M	0.00	0.00	0.00	0.00	0.00
Total Liabilities	15.93M	8.25M	8.23M	10.35M	12.67M	7.07M
Stockholders Equity	50.66M	26.18M	23.77M	60.48M	32.97M	110.75M
Cash Flow
Free Cash Flow	-26.00M	-35.25M	3.06M	-99.91M	-70.69M	-70.18M
Operating Cash Flow	-25.87M	-35.12M	3.06M	-99.91M	-70.64M	-69.51M
Investing Cash Flow	-124.00K	-124.00K	7.00K	0.00	-54.00K	-671.00K
Financing Cash Flow	54.23M	37.65M	459.00K	83.75M	0.00	114.00K

AlzeCure Pharma AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.44
• 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:ALZCUR, the sentiment is Negative. The current price of 2.44 is above the 20-day moving average (MA) of 1.92, above the 50-day MA of 2.05, and below the 200-day MA of 2.62, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 47.05 is Neutral, neither overbought nor oversold. The STOCH value of 47.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ALZCUR.

AlzeCure Pharma 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%
ERMA	43 Neutral	kr114.87M	-1.29	―	―	―	―
ALZCUR	42 Neutral	kr221.21M	-4.76	-90.66%	―	―	15.74%
ENZY	38 Underperform	kr478.19M	-8.83	―	―	19.17%	24.53%