BioArctic AB Class B (BIOA.B) AI Stock Analysis

• Market Cap: €16.09B
• Dividend Yield: N/A
• Average Volume (3M): 317.95K
• Price to Earnings (P/E): 17.8
• Beta (1Y): 0.19
• Revenue Growth: 501.62%
• EPS Growth: N/A
• Country: SE
• Employees: 107
• Sector: Healthcare
• Sector Strength: 46
• Industry: Biotechnology
• EPS (TTM): 11.55
• Shares Outstanding: 74,128,490
• 10 Day Avg. Volume: 214,617
• 30 Day Avg. Volume: 317,950
• PEG Ratio: 23.70
• Price to Book (P/B): 30.47
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -539.75
• 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

• Rating: 60 Neutral
• Price Target: kr198.00 ▲(8.97%Upside)

BioArctic AB's overall stock score of 60 reflects its financial challenges, particularly in revenue generation and cash flow management. However, its strong equity position and moderate valuation offer some stability. Technical analysis suggests potential for short-term gains, but the lack of compelling earnings guidance or notable corporate events leaves the outlook uncertain.

BioArctic AB Class B Business Overview & Revenue Model

Company Description

BioArctic AB (publ), a research-intensive biopharmaceutical company, develops biological drugs for patients with neurodegenerative disorders in Sweden. The company develops BAN2401, an immunotherapy, which is in Phase III clinical trials targeting the toxic amyloid-beta oligomers/protofibrils in Alzheimer's disease; and is in preclinical trials for treating Down's syndrome with dementia and traumatic brain injury, as well as BAN2401 Back-up, a disease modifying antibody treatment that is in late preclinical Phase for patients with early Alzheimer's disease. It also develops ABBV-0805, a monoclonal antibody for treating Parkinson's disease; and SC0806, a biodegradable device that is in Phase I/II clinical trial for spinal cord injuries. In addition, the company develops imaging and biochemical biomarkers for Alzheimer's and Parkinson's disease; and blood-brain-barrier technology that enables the passage of antibodies and other substances into the brain through the blood brain barrier, as well as focuses on developing ND3014 antibodies for treating neurodegenerative disorders; AD1801, AD1502, AD1503, AD-BT2802, AD-BT2803, and AD2603 for the treatment of Alzheimer's disease; and PD1601 and PD1602 for the treatment of Parkinson's disease. It has research collaboration agreement with Eisai and AbbVie. The company was formerly known as BioArctic Neuroscience AB and changed its name to BioArctic AB (publ) in 2016. BioArctic AB (publ) was founded in 1992 and is based in Stockholm, Sweden.

How the Company Makes Money

BioArctic AB generates revenue through a combination of research and development collaborations, milestone payments, and potential royalties from its partnerships with major pharmaceutical companies. The company engages in strategic alliances with leading firms to co-develop and commercialize its drug candidates, which allows it to leverage external expertise and resources while sharing the financial risks and rewards. Key partnerships, such as those with Eisai Co., Ltd., play a significant role in advancing BioArctic's product pipeline and contributing to its earnings. The company also seeks to monetize its proprietary technology platforms by licensing them to other biopharmaceutical companies.

BioArctic AB Class B Financial Statement Overview

Summary

BioArctic AB's financial performance shows considerable weaknesses, particularly in revenue generation and cash flow management, impacting its profitability and growth potential. While the company maintains a solid equity base and low leverage, the negative trends in earnings and cash flows underscore the need for strategic interventions to reverse the downturn and enhance financial health.

Income Statement

BioArctic AB has experienced significant volatility in its income statement metrics. The company reported a substantial decrease in total revenue in 2024 compared to 2023, alongside a negative EBIT and net income. Gross and net profit margins have deteriorated, indicating operational challenges. Despite previous revenue growth, the recent decline raises concerns about sustainable growth.

Balance Sheet

The balance sheet reflects a strong equity position with low debt levels, resulting in a favorable debt-to-equity ratio. However, the return on equity has been negative due to persistent net losses. The equity ratio remains robust, suggesting financial stability despite recent operational setbacks.

Cash Flow

Cash flow metrics reveal significant pressure, with a negative operating cash flow in 2024 compared to positive flows in previous years. The free cash flow has also turned negative, indicating liquidity challenges. This trend highlights the need for improved cash management and operational efficiency to support future growth.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	257.35M	616.00M	228.29M	23.15M	62.35M
Gross Profit	230.37M	526.37M	153.97M	-31.92M	12.11M
EBITDA	-165.13M	295.29M	4.22M	-126.42M	-74.58M
Net Income	-177.08M	229.25M	-11.18M	-119.79M	-68.52M
Balance Sheet
Total Assets	1.11B	1.19B	858.31M	897.73M	1.05B
Cash, Cash Equivalents and Short-Term Investments	512.93M	1.11B	805.39M	848.40M	999.94M
Total Debt	54.23M	4.98M	10.04M	15.88M	20.77M
Total Liabilities	216.74M	139.50M	72.06M	109.05M	143.01M
Stockholders Equity	894.94M	1.05B	786.24M	788.68M	907.30M
Cash Flow
Free Cash Flow	-316.33M	302.25M	-44.38M	-144.84M	-104.81M
Operating Cash Flow	-316.33M	309.69M	-31.64M	-140.46M	-92.34M
Investing Cash Flow	205.63M	-507.49M	-12.76M	-4.41M	-12.52M
Financing Cash Flow	5.69M	14.06M	-2.81M	-7.39M	-6.60M

BioArctic AB Class B Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 181.70
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BIOA.B, the sentiment is Negative. The current price of 181.7 is below the 20-day moving average (MA) of 190.49, below the 50-day MA of 184.96, and below the 200-day MA of 188.04, indicating a bearish trend. The MACD of -1.96 indicates Positive momentum. The RSI at 44.64 is Neutral, neither overbought nor oversold. The STOCH value of 12.40 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:BIOA.B.

BioArctic AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BIOA.B	60 Neutral	€16.09B	17.82	60.96%	―	501.62%	―
Sector *	51 Neutral	$7.41B	0.36	-61.88%	2.34%	16.99%	1.69%
HNSA	51 Neutral	kr2.28B	―		―	9.53%	41.19%
BOVNF		$243.05M	―	-45.80%	―	―	―
6Y4		€166.01M	―	-40.15%	―	―	―
1NP1		€330.98M	0.31	-15.21%	―	―	―
6XP		€153.41M	―	-42.24%	―	―	―

BioArctic AB Class B Corporate Events

BioArctic Founder Awarded Prestigious Prize for Alzheimer’s Research

BioArctic AB announced that its founder, Professor Lars Lannfelt, will receive the 2025 Hartwig Piepenbrock-DZNE Prize for his groundbreaking work in Alzheimer’s research and the development of lecanemab. This recognition highlights BioArctic’s significant contributions to the field and underscores the potential impact of lecanemab in altering the course of Alzheimer’s disease, marking a paradigm shift in treatment possibilities.

BioArctic Advances Exidavnemab Study Following Positive Safety Review

BioArctic AB announced the initiation of the next cohorts in its Phase 2a study of exidavnemab following a positive interim safety review. Exidavnemab, a monoclonal antibody targeting pathological alpha-synuclein aggregates, is being developed as a treatment for Parkinson’s disease and Multiple System Atrophy (MSA). The study’s progression to higher doses marks a significant step in addressing the unmet medical need for disease-modifying treatments in synucleinopathies. Exidavnemab has received orphan drug designation in the US and a positive opinion in the EU for MSA treatment, highlighting its potential impact on the company’s operations and industry positioning.

BioArctic AB Unveils Strategic Vision for 2030 at Capital Markets Day

BioArctic AB held its Capital Markets Day 2025, outlining its strategic goals for 2030, which include expanding its pipeline, forming global partnerships, and launching Leqembi® for Alzheimer’s in the Nordics. The company aims to leverage its strong financial position, innovative research platforms, and successful partnerships to drive growth and profitability, positioning itself as a leading pharmaceutical entity in Sweden.

BioArctic AB Issues New Shares Under Stock Option Program

BioArctic AB announced the issuance of 3,000 Class B shares as part of its 2019/2028 stock option program, bringing the total number of shares to 88,531,485. This move reflects the company’s ongoing commitment to rewarding its stakeholders and maintaining a robust capital structure, with implications for its market positioning and shareholder engagement.

BioArctic AB Annual General Meeting Resolutions and New Incentive Program

At its Annual General Meeting, BioArctic AB resolved to carry forward SEK 889,598,575 without paying dividends for 2024, re-elected its board members, and approved remuneration for them. The meeting also authorized the board to issue new shares and introduced a three-year incentive program for employees, which includes performance-based share units contingent on meeting specific conditions related to shareholder returns, operational targets, and sustainability goals.

BioArctic Gains EU Orphan Designation for MSA Treatment

BioArctic AB has received a positive opinion from the European Medicines Agency for orphan medicinal product designation for exidavnemab, a treatment for Multiple System Atrophy (MSA), a rare and fatal neurodegenerative disease. This designation provides incentives for developing treatments for rare diseases, potentially enhancing BioArctic’s market positioning and offering hope for addressing high unmet medical needs in MSA and related disorders.

BioArctic’s Q1 2025 Success: Leqembi’s Approval and Strategic Partnerships Boost Financial Performance

BioArctic AB reported significant financial growth in Q1 2025, driven by the approval and commercial success of its Alzheimer’s treatment, Leqembi, in the EU and other markets. The company also benefited from a lucrative license agreement with Bristol Myers Squibb, contributing to a substantial increase in net revenues and operating profit, positioning BioArctic as a key player in the neurodegenerative disease treatment market.

Eisai Projects Significant Growth for Alzheimer’s Drug Leqembi

Eisai, in partnership with BioArctic, projects significant revenue growth for their Alzheimer’s treatment, Leqembi, with sales expected to reach JPY 76.5 billion for fiscal year 2025. This growth reflects a 73% increase from the previous year, generating substantial royalties for BioArctic and strengthening their market position in Alzheimer’s treatment.

BioArctic AB to Present Q1 2025 Financial Results

BioArctic AB will release its first quarter report for 2025 on May 21, inviting investors, analysts, and media to an audiocast and teleconference where the CEO and CFO will present and discuss the results. This event reflects BioArctic’s ongoing commitment to transparency and engagement with stakeholders, potentially impacting its market perception and investor relations.

BioArctic Expands Exidavnemab Study to Include MSA Patients

BioArctic AB has expanded its Phase 2a EXIST study to include Multiple System Atrophy (MSA) patients, following regulatory approval in Spain and Poland. This expansion marks a significant step in developing exidavnemab, a monoclonal antibody targeting alpha-synuclein aggregates, as a potential treatment for MSA and Parkinson’s, addressing a high unmet medical need in neurodegenerative diseases.