Biosergen AB (BIOSGN) AI Stock Analysis

• Market Cap: kr90.17M
• Dividend Yield: N/A
• Average Volume (3M): 126.26K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.69
• Revenue Growth: N/A
• EPS Growth: 49.09%
• Country: SE
• Employees: 2
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): N/A
• Shares Outstanding: 2,348,232
• 10 Day Avg. Volume: 207,862
• 30 Day Avg. Volume: 126,261
• PEG Ratio: 0.08
• Price to Book (P/B): 2.64
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.65
• 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: kr42.00 ▼(-1.41% Downside)
• Action: Upgraded Date: 12/30/25
• Date: Action: Upgraded 12/30/25

The score is primarily weighed down by weak financial performance (pre-revenue, recurring losses, and ongoing cash burn) and bearish technical signals (below major moving averages with negative MACD). A debt-free balance sheet with improved equity provides some support, but valuation remains challenged by negative earnings and no dividend data.

Positive Factors

Targeted antifungal pipeline

Biosergen’s focus on BSG005 for invasive fungal infections addresses a structural unmet need in hospital and critical‑care settings where resistance and toxicity limit options. A successful clinical/regulatory outcome would create a durable franchise in a niche with high clinical importance and limited competition.

Debt‑free balance sheet

Having no reported debt and stronger equity reduces bankruptcy and interest risk, preserving strategic flexibility. This structural financial strength lengthens runway for R&D or partnership negotiations and reduces fixed obligations that could otherwise constrain long‑term drug development efforts.

Improving cash burn trend

A materially lower cash burn in 2024 shows better cost control or milestone progress, improving runway and reducing near‑term funding needs. Sustained improvement increases probability of reaching clinical inflection points without immediate dilutive raises, a positive structural trend for a pre‑revenue biotech.

Negative Factors

Pre‑revenue with ongoing losses

The absence of recurring revenue and persistent sizeable net losses mean the company must continually access capital to fund operations. This structural dependence on external financing increases dilution risk and leaves long‑term viability contingent on successful clinical or partnering outcomes rather than operating cash generation.

Negative returns and equity reliance

Meaningfully negative ROE and reliance on equity funding indicate the business is not generating investor returns from operations. Over the medium term this creates vulnerability to capital market conditions, potential dilution from raises, and constrained strategic choices if funding environments tighten.

Very small operating team

With only two employees the company has limited internal capacity to run complex clinical programs, regulatory activity, or commercialization prep. This reliance on external CROs and partners raises execution risk, potential coordination delays, and reduces operational resilience over the medium term.

Biosergen AB Business Overview & Revenue Model

Company Description

Biosergen AB, a biopharmaceutical company, engages in the development of antifungal products. It is developing BSG005, an antifungal drug candidate for the treatment of life threatening invasive fungal diseases. The company was founded in 2004 and is headquartered in Solna, Sweden.

How the Company Makes Money

Biosergen AB generates revenue primarily through the development and commercialization of its antifungal drug candidates. The company engages in various stages of clinical trials to bring its products to market, potentially partnering with larger pharmaceutical firms for distribution and marketing. Additionally, Biosergen may secure funding through grants, collaborations, and licensing agreements with other organizations interested in its research and development efforts. These partnerships and agreements often provide upfront payments, milestone payments, and royalties on future sales, contributing to the company's earnings.

Biosergen AB Financial Statement Overview

Summary

Financials are pressured by a pre-revenue model (revenue at 0 in 2022–2024), ongoing net losses, and consistently negative operating/free cash flow (2024 FCF ~-16.6M). Offsetting this, the balance sheet is relatively clean with zero reported debt (2020–2024) and improved equity in 2024 (~48.2M), but ROE remains meaningfully negative due to continued losses.

Income Statement

The company remains pre-revenue in recent years (2022–2024 annual revenue at 0), with consistently large operating and net losses (2024 net loss ~19.2M vs. 2023 ~27.0M). Losses are narrowing versus 2022–2023, but the absence of a recurring revenue base and ongoing negative profitability keep earnings quality weak and visibility limited.

Balance Sheet

The balance sheet is supported by positive equity in 2021–2024, with a notable improvement in 2024 (equity ~48.2M; assets ~52.9M) and zero reported debt in 2020–2024, which reduces financial risk. However, returns on equity are still meaningfully negative in recent years (2024 ROE ~-0.40; 2023 extremely negative), reflecting ongoing losses and highlighting reliance on equity funding rather than self-sustaining profitability.

Cash Flow

Cash generation remains a key weakness: operating cash flow and free cash flow are consistently negative (2024 free cash flow ~-16.6M; 2023 ~-32.6M), indicating continued cash burn. The burn rate improved materially in 2024 versus 2023, but free cash flow growth remains negative in 2024 and overall funding needs persist until revenues scale or costs fall further.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	8.57M	4.43M
Gross Profit	0.00	0.00	-456.00K	-280.00K	-213.60K	-6.10M
EBITDA	-24.15M	-19.20M	228.00K	-39.99M	-34.32M	-6.72M
Net Income	-24.27M	-19.20M	-27.04M	-34.05M	-34.32M	-6.72M
Balance Sheet
Total Assets	37.93M	52.85M	7.20M	33.79M	29.49M	4.80M
Cash, Cash Equivalents and Short-Term Investments	33.27M	50.61M	1.88M	29.34M	21.66M	589.00K
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	5.35M	3.71M	5.08M	11.00M	9.25M	15.72M
Stockholders Equity	32.58M	48.21M	2.12M	22.79M	20.23M	-10.92M
Cash Flow
Free Cash Flow	-14.15M	-16.63M	-32.60M	-29.44M	-37.75M	-4.58M
Operating Cash Flow	-14.15M	-16.63M	-32.60M	-29.44M	-37.75M	-4.58M
Investing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00
Financing Cash Flow	41.09M	65.36M	5.14M	37.12M	58.83M	0.00

Biosergen AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 42.60
• 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:BIOSGN, the sentiment is Negative. The current price of 42.6 is above the 20-day moving average (MA) of 41.85, above the 50-day MA of 41.56, and below the 200-day MA of 48.17, indicating a bearish trend. The MACD of -1.04 indicates Positive momentum. The RSI at 38.30 is Neutral, neither overbought nor oversold. The STOCH value of 11.54 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:BIOSGN.

Biosergen AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NXTCL	52 Neutral	kr157.06M	-3.19	-52.45%	―	2.56%	52.76%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SPAGO	47 Neutral	kr80.05M	-2.20	-106.95%	―	-48.15%	51.95%
NICA	43 Neutral	kr33.84M	-0.67	-294.38%	―	186.74%	73.17%
BIOSGN	42 Neutral	kr90.17M	-2.21	-201.21%	―	―	49.09%
ALZ	42 Neutral	kr102.65M	-2.14	-20.85%	―	-67.00%	13.62%
LPGO	41 Neutral	kr3.03M	-0.08	-213.85%	―	―	―