BioInvent International AB (SE:BINV)
:BINV
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BioInvent International AB
(BINV)
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Rating:50Neutral
Price Target:
kr22.00
▼(-27.39% Downside)
Action:ReiteratedDate:05/02/26
The score is held back primarily by weak financial performance (large losses and persistent cash burn) and bearish technical positioning (below key moving averages with negative MACD). Offsetting these, the latest earnings call points to meaningful clinical progress, strong partnerships, and multiple near-term catalysts, though near-term financing needs remain a key risk.
Positive Factors
Clinical efficacy across lead programs
Robust, repeatable efficacy signals in BI-1808 (ovarian cancer) and durable single-agent responses in CTCL provide a durable scientific foundation. Consistent clinical activity across indications supports de-risking, strengthens partner interest, and underpins potential pivotal advancement and long-term value creation.
Negative Factors
Persistent negative cash flow
Sustained negative operating and free cash flow indicates the business consumes cash faster than it generates it from operations. Over the medium term this heightens reliance on external funding, constrains discretionary investment, and can force dilutive financing or program prioritization if clinical milestones slip.
Read all positive and negative factors
Positive Factors
Negative Factors
Clinical efficacy across lead programs
Robust, repeatable efficacy signals in BI-1808 (ovarian cancer) and durable single-agent responses in CTCL provide a durable scientific foundation. Consistent clinical activity across indications supports de-risking, strengthens partner interest, and underpins potential pivotal advancement and long-term value creation.
Read all positive factors
BioInvent International AB (BINV) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr1.44B
Dividend YieldN/A
Average Volume (3M)91.72K
Price to Earnings (P/E)―
Beta (1Y)0.32
Revenue Growth406.86%
EPS Growth22.48%
CountrySE
Employees118
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.90
Shares Outstanding65,804,360
10 Day Avg. Volume84,851
30 Day Avg. Volume91,723
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)3.47
Price to Sales (P/S)8.54
P/FCF Ratio-7.58
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-4.7
Revenue Forecast (FY)kr277.77M
BioInvent International AB Business Overview & Revenue Model
Company Description
BioInvent International AB (publ), a clinical-stage company, discovers, researches, and develops immuno-modulatory antibodies for the treatment of cancer in Sweden, Europe, the United States, Japan, and internationally. Its lead drug candidate is ...
How the Company Makes Money
BioInvent makes money primarily through (1) collaboration and licensing arrangements and (2) (as applicable) financing and other operating income; it is a clinical-stage biotech and typically does not rely on steady product-sales revenue unless a ...
BioInvent International AB Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 27, 2026
Earnings Call Sentiment Positive
The call presents multiple strong clinical data points (notably BI-1808 in ovarian cancer and CTCL, and BI-1206 in NHL) with supportive safety and clear near-term catalysts and collaborations with Merck and AstraZeneca. Financially, Q4 sales fell sharply due to lower contract production while full-year sales increased materially driven by one-time items; operating costs and losses rose and the company states it is financed for only the next 12 months, meaning further financing or partnering will be needed to sustain a larger pivotal development plan. Overall, the positive clinical momentum and strategic partnerships outweigh short-term financial and execution risks, but upcoming readouts will be critical for de-risking future funding and pivotal starts.Positive Updates
Strong BI-1808 clinical efficacy in ovarian cancer (combo with pembrolizumab)
Phase IIa combination data in recurrent ovarian cancer: 24% overall response rate (ORR) and 57% disease control rate (DCR) with 21 evaluable ovarian cancer patients; dataset maturing with additional partial response and conversion of stable disease to PR, and a favorable safety profile.
Negative Updates
Sharp Q4 2025 net sales decline
Q4 2025 net sales SEK 3.0 million vs SEK 21.4 million in Q4 2024 — a decrease of SEK 18.4 million (~-86%), primarily due to lower production revenues for antibodies for customers.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong BI-1808 clinical efficacy in ovarian cancer (combo with pembrolizumab)
Phase IIa combination data in recurrent ovarian cancer: 24% overall response rate (ORR) and 57% disease control rate (DCR) with 21 evaluable ovarian cancer patients; dataset maturing with additional partial response and conversion of stable disease to PR, and a favorable safety profile.
Read all positive updates
Company Guidance
The management outlined a dense near‑term catalyst calendar and clear go/no‑go signals: clinical readouts are expected mid‑2026 (first Phase IIa BI‑1808+pembro in CTCL; additional BI‑1206 triplet NHL data) and in 2H‑2026 (further BI‑1808+pembro solid‑tumor data and first readout from BI‑1206+pembro in first‑line NSCLC and uveal melanoma), with concrete 2027 inflection points including completion of BI‑1808 monotherapy dose optimization in 1H‑2027 and potential pivotal starts (BI‑1808 pivotal in 2H‑2027; BI‑1206 NHL pivotal potentially 1H‑2027; BI‑1206 Phase IIb in NSCLC possibly 2H‑2027). Key clinical metrics already reported: BI‑1808 ovarian combo ORR 24% and disease control rate 57% (21 ovarian patients available), BI‑1808 CTCL monotherapy 46% ORR and 92% disease control in 13 evaluable CTCL patients (including a CR >1 year), BI‑1206 triplet in NHL ~80% ORR and 100% disease control (activity across follicular, marginal zone and mantle cell; current cohort ~30 patients), and a target benchmark of ~60% ORR for BI‑1206 in first‑line NSCLC to consider advancement. Financially, Q4‑2025 net sales were SEK 3m (vs SEK 21.4m a year earlier), full‑year net sales SEK 226m (vs SEK 45m), Q4 operating costs SEK 132m (Q4‑2024 SEK 147m), full‑year operating costs SEK 578m (2024 SEK 516m), Q4 result −SEK 125.8m and full‑year result −SEK 332.9m, with liquid funds/current investments of SEK 593m and the company assessed as financed for the coming 12 months.BioInvent International AB Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
64
Positive
Cash Flow
30
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 217.86M | 226.50M | 44.69M | 71.46M | 326.13M | 19.38M |
| Gross Profit | 214.54M | 226.50M | 44.69M | 71.46M | 326.13M | 19.38M |
| EBITDA | -326.54M | -331.52M | -409.38M | -312.71M | -27.13M | -263.32M |
| Net Income | -335.45M | -332.86M | -429.38M | -330.30M | -34.09M | -278.96M |
Balance Sheet | ||||||
| Total Assets | 534.96M | 671.20M | 989.24M | 1.40B | 1.71B | 1.45B |
| Cash, Cash Equivalents and Short-Term Investments | 456.48M | 592.75M | 867.16M | 1.07B | 1.02B | 1.08B |
| Total Debt | 6.25M | 9.68M | 17.41M | 23.24M | 26.96M | 28.37M |
| Total Liabilities | 95.85M | 113.59M | 103.42M | 90.45M | 106.09M | 80.32M |
| Stockholders Equity | 439.11M | 557.62M | 885.82M | 1.31B | 1.61B | 1.37B |
Cash Flow | ||||||
| Free Cash Flow | -265.69M | -255.01M | -390.50M | -355.00M | -53.60M | -259.10M |
| Operating Cash Flow | -260.57M | -247.75M | -380.47M | -341.69M | -41.23M | -245.84M |
| Investing Cash Flow | 159.63M | 180.13M | 564.35M | 59.68M | -628.85M | -467.54M |
| Financing Cash Flow | -9.03M | -8.98M | -8.46M | 23.14M | 273.49M | 894.87M |
BioInvent International AB Technical Analysis
Negative
30.30
Price Trends
23.74
Negative
26.54
Negative
29.65
Negative
Market Momentum
-0.31
Negative
45.98
Neutral
50.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BINV, the sentiment is Negative. The current price of 30.3 is above the 20-day moving average (MA) of 22.53, above the 50-day MA of 23.74, and above the 200-day MA of 29.65, indicating a bearish trend. The MACD of -0.31 indicates Negative momentum. The RSI at 45.98 is Neutral, neither overbought nor oversold. The STOCH value of 50.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:BINV.
BioInvent International AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | kr1.93B | 9.60 | 167.77% | ― | 29.80% | 25.42% | |
55 Neutral | kr945.22M | 7.07 | 81.19% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | kr1.44B | -5.81 | -47.20% | ― | 406.86% | 22.48% | |
50 Neutral | kr2.81B | -5.68 | -49.96% | ― | -96.51% | -74.30% | |
46 Neutral | kr1.22B | -8.76 | -35.03% | ― | ― | 46.92% | |
45 Neutral | kr2.77B | -4.13 | ― | ― | 4.84% | 17.25% |
* Healthcare Sector Average
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BioInvent International AB Corporate Events
BioInvent AGM Backs New Incentive Plan, Share Issue Mandate and Board Changes
Apr 29, 2026
BioInvent International AB’s 2026 Annual General Meeting approved a refreshed board composition, re-electing four directors, appointing two new members and confirming Leonard Kruimer as chairman while retaining KPMG as auditor, and decided n...
BioInvent Ramps Up Oncology Profile With Dual KOL Events Around ASCO and EHA
Apr 29, 2026
BioInvent International will host two Key Opinion Leader events to showcase scientific and clinical advances in its oncology portfolio, particularly the anti-TNFR2 antibody BI-1808 and the anti-FcγRIIB antibody BI-1206. The initiatives aim to...
BioInvent Narrows Focus on Immuno-Oncology as Q1 Loss Widens and Key Trials Advance
Apr 29, 2026
BioInvent reported first-quarter 2026 net sales of SEK 13.4 million, down from SEK 22.1 million a year earlier, with a loss after tax of SEK 119.2 million and operating cash outflow of SEK 132.8 million, leaving liquid funds and current investment...
BioInvent to showcase promising BI-1808 and KEYTRUDA combo data in recurrent ovarian cancer at ASCO 2026
Apr 21, 2026
BioInvent International AB, a Swedish clinical-stage biotech specializing in immune-modulatory antibody therapies for hematological malignancies and solid tumors, leverages its F.I.R.S.T. discovery platform to generate first-in-class candidates an...
BioInvent Narrows Pipeline and Advances Lead Cancer Antibodies in Strategically Focused 2025
Mar 31, 2026
BioInvent’s 2025 performance was defined by a sharper clinical focus on its lead oncology antibody programs, BI-1808 and BI-1206, and a deliberate pause of earlier candidates BI-1910 and BI-1607 to concentrate resources on assets with the hi...
BioInvent Secures €1 Million Milestone as Endometriosis Antibody Enters Phase 3
Mar 26, 2026
BioInvent International has reached a key development milestone under its license agreement for HMI-115, an anti-prolactin receptor antibody aimed at treating moderate to severe endometriosis-associated pain. The milestone was triggered by partner...
BioInvent Calls 2026 AGM, Sets Governance and Voting Framework
Mar 24, 2026
BioInvent International AB has called its Annual General Meeting for 29 April 2026 at Elite Hotel Ideon in Lund, Sweden, offering shareholders the option to participate either in person or by advance postal voting in line with its Articles of Asso...
BioInvent doubles down on lead cancer antibodies as 2026 data catalysts loom
Feb 26, 2026
BioInvent has sharpened its clinical focus and resource allocation in 2025 to advance its lead oncology assets BI-1808 and BI-1206, pausing earlier-stage programs to maximize the probability of success and near-term value. The company reported imp...
BioInvent to Present 2025 Year-End Results in Investor Webcast
Feb 26, 2026
BioInvent International AB is a clinical-stage biotechnology company specializing in immuno-oncology, developing novel immuno-modulatory antibody therapies for hematological cancers and solid tumors. Leveraging its proprietary F.I.R.S.T. discovery...
BioInvent Taps Industry Heavyweights for Board as Cancer Pipeline Advances
Feb 23, 2026
BioInvent has nominated global life sciences executive Kate Hermans and veteran healthcare investor Scott Zinober to join its Board of Directors, with their elections to be put to shareholders at the April 29, 2026 AGM. The move comes as the compa...
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.