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Corline Biomedical AB (SE:CLBIO)
:CLBIO
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Corline Biomedical AB
(CLBIO)
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Select Model
Rating:50Neutral
Price Target:
kr18.50
▲(12.80% Upside)
The score is held back primarily by weak financial performance (large losses, declining revenue, and sustained negative free cash flow), partially offset by a conservative, debt-free balance sheet and supportive—but not fully confirmed—technical momentum. Valuation is less supportive given negative earnings and no dividend yield provided.
Positive Factors
Debt-free balance sheet
Zero debt materially reduces refinancing and interest-rate risk, giving management structural financial flexibility to fund R&D, pursue partnerships or weather downturns. Over 2-6 months this strengthens survival prospects and preserves optionality for strategic funding choices.
High gross margins
An ~82.5% gross margin indicates attractive unit economics for the coating products, supporting scalability if volumes rise. Durable high gross margins can fund investment in sales and development and provide a buffer against cost inflation, aiding long-term margin sustainability.
Niche proprietary technology and diverse end-markets
Owning heparin-based surface-coating IP with multiple medical applications establishes a structural competitive position. Serving several blood-contacting device markets spreads commercial risk and creates recurring opportunity streams, supporting durable demand over months to years.
Negative Factors
Persistent cash burn
Multi-year negative operating and free cash flows sharply raise funding risk and the likelihood of equity or financing needs. Persistent cash burn limits ability to scale commercialization or absorb setbacks, making capital access a key structural constraint over the next several months.
Deep losses and revenue decline
Severe negative EBIT/net income and falling revenue indicate the business is not converting its high gross margins into operating profitability. Sustained operating losses erode runway and signal structural issues in commercialization or cost base that must be addressed to restore viability.
Eroding equity and poor returns
Declining equity and ~-29% ROE mean shareholder capital is being consumed by losses, reducing the balance-sheet cushion. This structural erosion narrows strategic options, increases sensitivity to further losses, and raises the probability of dilution or capital raises in coming months.
Corline Biomedical AB (CLBIO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr448.18M
Dividend YieldN/A
Average Volume (3M)90.01K
Price to Earnings (P/E)―
Beta (1Y)0.14
Revenue GrowthN/A
EPS GrowthN/A
CountrySE
Employees13
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.14
Shares Outstanding24,490,820
10 Day Avg. Volume161,073
30 Day Avg. Volume90,008
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)2.20
Price to Sales (P/S)19.59
P/FCF Ratio-11.87
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)N/A
Revenue Forecast (FY)N/A
Corline Biomedical AB Business Overview & Revenue Model
Company DescriptionCorline Biomedical AB develops, manufactures, and markets heparin based solutions to enhance kidney transplantation, cell therapies, and regenerative medicine applications. Its products are based on Corline Heparin Conjugate (CHC) technology, a heparin conjugate that is used as stand-alone pharmaceutical compound. The company's products include Renaparin for use in the treatment of end stage renal failure; Cytoparin, a cell therapy that is used for the treatment of patients with type 1 diabetes; CHC, which is used for the treatment of soft tissue injuries; medical devices; and CHS, a coronary stent. The company was founded in 1991 and is based in Uppsala, Sweden.
How the Company Makes Money
Corline Biomedical AB Financial Statement Overview
Summary
Income Statement
Balance Sheet
Cash Flow
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.56M | 9.78M | 25.03M | 23.55M | 7.06M | 3.70M |
| Gross Profit | 6.24M | 13.44M | 28.38M | 22.73M | 9.10M | 10.32M |
| EBITDA | -23.74M | -23.07M | -1.69M | 2.38M | -6.88M | -7.27M |
| Net Income | -23.85M | -23.19M | -1.81M | 2.33M | -6.92M | -7.29M |
Balance Sheet | ||||||
| Total Assets | 82.31M | 94.76M | 100.11M | 101.78M | 101.66M | 58.28M |
| Cash, Cash Equivalents and Short-Term Investments | 5.82M | 17.67M | 17.01M | 26.21M | 41.63M | 8.99M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 5.09M | 7.85M | 6.79M | 7.19M | 9.43M | 6.25M |
| Stockholders Equity | 77.23M | 86.91M | 93.32M | 94.59M | 92.23M | 52.03M |
Cash Flow | ||||||
| Free Cash Flow | -17.19M | -16.14M | -9.73M | -15.45M | -14.45M | -13.87M |
| Operating Cash Flow | -16.73M | -8.64M | 886.00K | -6.45M | -4.83M | -5.07M |
| Investing Cash Flow | -1.35M | -7.50M | -10.62M | -9.00M | -9.56M | -8.80M |
| Financing Cash Flow | 16.57M | 16.79M | 537.00K | 26.00K | 47.13M | 0.00 |
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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.