Elicera Therapeutics AB (ELIC) AI Stock Analysis

• Market Cap: kr259.67M
• Dividend Yield: N/A
• Average Volume (3M): 134.24K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.42
• Revenue Growth: N/A
• EPS Growth: 52.96%
• Country: SE
• Employees: 2
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): <0.01
• Shares Outstanding: 48,535,545
• 10 Day Avg. Volume: 92,396
• 30 Day Avg. Volume: 134,243
• PEG Ratio: 0.08
• Price to Book (P/B): 2.54
• Price to Sales (P/S): 7.40
• P/FCF Ratio: -2.25
• 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): -3.81
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: kr5.00 ▼(-6.54% Downside)

The score is mainly held back by weak financial performance—large ongoing losses and negative free cash flow—despite a clean, no-debt balance sheet and some improvement in burn versus 2024. Technical signals are mixed-to-moderately positive, but valuation support is limited due to negative earnings and no dividend data.

Positive Factors

Advanced immuno-oncology R&D platform

Focus on CAR T and oncolytic virus platforms targets a structural growth area in oncology with high unmet need. Successful development could create durable competitive moats, attract partnerships, and unlock premium pricing, underpinning long-term commercial potential if clinical results validate.

Improving cash burn trend

Cash burn has meaningfully eased versus the prior year, showing management can slow outflows as programs progress. Durable reductions in negative OCF/FCF extend runway for clinical development, lowering near-term financing urgency and enabling steadier execution of strategic milestones.

Strong balance sheet (zero debt)

A zero-debt capital structure and rising equity materially reduce financial risk for a development-stage biotech. This balance-sheet conservatism improves ability to fund R&D, negotiate partnerships, and absorb setbacks without immediate solvency pressure, supporting program continuity.

Negative Factors

Modest and declining revenue trajectory

Declining, low revenue suggests limited commercial traction and weak non-dilutive funding. For a biotech, shrinking top-line reduces flexibility to self-fund R&D and increases dependency on equity raises or deals, exacerbating dilution and strategic constraints over the next several quarters.

Negative cash generation and funding reliance

Sustained negative operating and free cash flow means the company must rely on external financing to fund development. This creates dilution or debt risk, limits autonomous program scaling, and ties progress to capital markets and partnership timing rather than internal cash generation.

Persistent operating losses and negative margins

Deep and persistent net losses indicate the business remains far from profitability and continue to erode economic returns. Prolonged negative margins necessitate ongoing capital support, raising execution risk and increasing sensitivity to clinical delays or cost overruns over the medium term.

Elicera Therapeutics AB Business Overview & Revenue Model

Company Description

Elicera Therapeutics AB (publ), a clinical stage immuno-oncology company, develops cell and gene therapies for immune-based cancer treatments in Sweden. The company's portfolio of products in pipeline includes ELC-100, a Phase I/II drug candidate for neuroendocrine tumors indications; ELC-201, a preclinical drug candidate; ELC-301, a CAR T-cell therapy for the treatment of Non-Hodgkin's B-cell lymphoma; and ELC-401, a preclinical drug candidate glioblastoma multiforme (brain tumor) indications. It also develops iTANK, a technology platform used to optimize the effect of all CAR T-cell therapies under the development and activate killer T-cells against cancer. The company was founded in 2014 and is based in Göteborg, Sweden.

How the Company Makes Money

Elicera Therapeutics AB generates revenue primarily through research and development collaborations, licensing agreements, and potential milestone payments related to its proprietary technologies and therapeutic candidates. The company may also seek grants and funding from governmental or non-governmental entities to support its research initiatives. Elicera's revenue model is likely driven by strategic partnerships with larger pharmaceutical companies, which can provide upfront payments, research funding, and royalties on future sales if the therapies reach commercialization. Additionally, successful clinical trials and regulatory approvals could open avenues for direct sales or additional licensing deals.

Elicera Therapeutics AB Financial Statement Overview

Summary

Income statement and cash flow are weak (deep losses, negative margins, and negative operating/free cash flow), only partially offset by improvements versus 2024. Balance sheet strength (no debt and higher equity) reduces financial risk but does not resolve ongoing burn and profitability challenges.

Income Statement

TTM (Trailing-Twelve-Months) revenue is modest (~5.8M) and has declined versus the prior annual period (2024: ~7.1M; TTM revenue growth: -3.9%), showing an inconsistent top-line trajectory after stronger growth in earlier years. Profitability remains deeply negative with TTM net income of about -13.0M and net margins around -225%, indicating the business is still in a heavy investment/burn phase. A positive point is that losses have narrowed versus 2024 (net loss improved from ~-16.1M to ~-13.0M), but the company has not yet demonstrated a clear path to sustainable profitability.

Balance Sheet

The balance sheet is conservatively levered with zero debt across the periods provided, which meaningfully reduces financial risk and gives flexibility. Equity is positive and has increased versus 2024 (TTM equity ~30.3M vs 2024 ~20.8M), supporting the asset base (TTM assets ~37.3M). The key weakness is persistent negative returns on equity (TTM return on equity about -46%), reflecting ongoing losses that continue to erode economic value even with a clean capital structure.

Cash Flow

Cash generation remains negative, with TTM operating cash flow and free cash flow both around -15.7M, consistent with a company still funding R&D and operations ahead of commercialization. A relative positive is that cash burn improved versus 2024 (operating cash flow was ~-23.5M in 2024), and TTM free cash flow growth is shown as strongly positive from a very negative base. However, cash flow still does not cover net losses in a way that indicates self-funding operations, so ongoing funding needs remain a central risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	5.79M	7.13M	11.23M	1.28M	587.00	0.00
Gross Profit	5.79M	7.13M	11.22M	1.28M	-11.19K	-11.78K
EBITDA	-13.24M	-16.82M	-17.09M	-19.43M	-13.11M	-2.82M
Net Income	-13.04M	-16.11M	-16.40M	-19.52M	-13.12M	-2.82M
Balance Sheet
Total Assets	37.30M	27.56M	30.18M	46.31M	54.74M	12.59M
Cash, Cash Equivalents and Short-Term Investments	34.92M	26.40M	29.38M	43.82M	52.39M	11.56M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	6.97M	6.79M	13.78M	13.51M	2.50M	2.35M
Stockholders Equity	30.33M	20.77M	16.40M	32.80M	52.24M	10.24M
Cash Flow
Free Cash Flow	-15.71M	-23.46M	-14.92M	-8.57M	-14.29M	-964.13K
Operating Cash Flow	-15.71M	-23.46M	-14.92M	-8.57M	-14.29M	-905.25K
Investing Cash Flow	1.00K	0.00	483.17K	0.00	-1.00K	-8.88K
Financing Cash Flow	20.00M	20.48M	0.00	0.00	55.12M	12.45M

Elicera Therapeutics AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 5.35
• 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:ELIC, the sentiment is Negative. The current price of 5.35 is below the 20-day moving average (MA) of 5.56, below the 50-day MA of 5.65, and below the 200-day MA of 5.69, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 37.81 is Neutral, neither overbought nor oversold. The STOCH value of 16.36 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ELIC.

Elicera Therapeutics 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%
ELIC	47 Neutral	kr259.67M	-15.57	-48.30%	―	―	52.96%