Hansa Biopharma AB (SE:HNSA)
:HNSA
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Hansa Biopharma AB
(HNSA)
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Rating:45Neutral
Price Target:
kr24.50
▼(-15.63% Downside)
Action:ReiteratedDate:04/27/26
The score is held down primarily by weak financial performance (declining revenue, large losses, ongoing cash burn) and elevated balance-sheet risk (high debt and negative equity). Technicals also indicate a clear downtrend with weak momentum. These are partially offset by earnings-call positives around added financing runway and a dense set of near-term regulatory/clinical milestones, but near-term revenue volatility and continued high burn remain key constraints.
Positive Factors
Proprietary IgG‑cleaving enzyme platform
Hansa’s platform is first‑principles and targeted (IgG‑cleaving enzymes/imlifidase). That creates durable differentiation and multi‑indication potential across transplantation and immune diseases, supporting licensing, partnerships and long‑term commercial leverage versus generic competitors.
Negative Factors
Elevated leverage and negative equity
High absolute debt and negative shareholders’ equity weaken financial flexibility and reduce resilience to execution delays. This structural balance‑sheet weakness raises refinancing and dilution risk, constraining strategic optionality and increasing cost of capital over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary IgG‑cleaving enzyme platform
Hansa’s platform is first‑principles and targeted (IgG‑cleaving enzymes/imlifidase). That creates durable differentiation and multi‑indication potential across transplantation and immune diseases, supporting licensing, partnerships and long‑term commercial leverage versus generic competitors.
Read all positive factors
Hansa Biopharma AB (HNSA) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr2.77B
Dividend YieldN/A
Average Volume (3M)792.96K
Price to Earnings (P/E)―
Beta (1Y)0.61
Revenue Growth4.84%
EPS Growth17.25%
CountrySE
Employees138
SectorGeneral
Sector StrengthN/A
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.93
Shares Outstanding101,763,220
10 Day Avg. Volume714,369
30 Day Avg. Volume792,961
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)-31.35
Price to Sales (P/S)12.55
P/FCF Ratio-5.08
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr103.00Price Target Upside254.68% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-6.06
Revenue Forecast (FY)kr260.81M
Hansa Biopharma AB Business Overview & Revenue Model
Company Description
Hansa Biopharma AB (publ), a biopharmaceutical company, develops immunomodulatory treatments for enabling transplants and rare immunoglobulin G (IgG)-mediated autoimmune conditions, gene therapy, and cancer using its proprietary enzyme technology ...
How the Company Makes Money
Hansa Biopharma makes money primarily through sales of its marketed product and through collaboration-related payments. Its key commercial revenue stream is product revenue from imlifidase (Idefirix), which is sold for use in desensitization of hi...
Hansa Biopharma AB Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 16, 2026
Earnings Call Sentiment Neutral
Balanced call: significant positive developments on financing, regulatory progress (BLA review, PAES lock, ConfIdeS presentation), promising next-generation asset data (5487), and concrete market-access wins (Catalonia, German KOL guidance) are offset by a steep revenue decline (‑48% Y/Y), ongoing high cash burn and operating losses, and continued structural volatility in European organ allocation. Management emphasizes stabilization actions completed and expects benefits to materialize over coming months, but short-term revenue predictability remains limited.Positive Updates
Raised $30M Convertible Note Extending Runway
Entered a USD 30 million convertible note purchase agreement (fixed 3% interest, semiannual cash payments from Sep 15, 2026, maturity Mar 2031) on Mar 19, 2026, strengthening the balance sheet ahead of potential U.S. approval and launch.
Negative Updates
Sharp Revenue Decline
Total revenue for Q1 2026 was SEK 34.6 million, a 48% decrease compared to Q1 2025 (SEK 66.3 million); product sales SEK 33.9 million, also down 48% year-over-year, driven by quarter-to-quarter volatility and European commercial reorganization impacts.
Read all updates
Q1-2026 Updates
Positive
Negative
Raised $30M Convertible Note Extending Runway
Entered a USD 30 million convertible note purchase agreement (fixed 3% interest, semiannual cash payments from Sep 15, 2026, maturity Mar 2031) on Mar 19, 2026, strengthening the balance sheet ahead of potential U.S. approval and launch.
Read all positive updates
Company Guidance
Management said it will not give detailed full‑year guidance but provided operational and financial signposts: Q1 revenue was SEK 34.6 million (product sales SEK 33.9 million), down 48% year‑over‑year from SEK 66.3 million; Q1 SG&A was ~SEK 106 million (essentially flat vs Q4’25 at SEK 102M), R&D ~SEK 57 million, loss from operations SEK 143 million, cash used in operations SEK 157 million, headcount 122, and cash and cash equivalents ~SEK 677 million at quarter end; the company raised a USD 30 million convertible note (3% fixed interest, semiannual cash payments, maturity March 2031) and paid down ~SEK 15 million of NovaQuest debt with no further payment due until mid‑2027. They cautioned on continued quarter‑to‑quarter volatility from organ allocation but noted a strong start to Q2 and laid out near‑term milestones: PAES database lock next month, ConfIdeS full data and an oral ATC presentation in June, FDA feedback on the GBS (5487) briefing expected in May, a Capital Markets Day in June, a planned EMA full filing in Q4 and an expected PDUFA in December, plus a U.S. commercial build in Q4 targeting the top 100 centers (≈80% of volume) with 25 ConfIdeS centers accounting for ~25% of U.S. transplant volume.Hansa Biopharma AB Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
12
Very Negative
Cash Flow
16
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 190.49M | 222.26M | 171.32M | 134.09M | 154.53M | 33.88M |
| Gross Profit | 113.68M | 138.71M | 87.76M | 70.95M | 116.05M | 18.45M |
| EBITDA | -544.21M | -409.35M | -642.07M | -714.55M | -554.26M | -538.83M |
| Net Income | -688.50M | -529.25M | -807.24M | -831.72M | -611.13M | -548.28M |
Balance Sheet | ||||||
| Total Assets | 1.16B | 1.17B | 800.64M | 1.02B | 1.69B | 1.01B |
| Cash, Cash Equivalents and Short-Term Investments | 676.46M | 701.08M | 405.28M | 732.06M | 1.50B | 888.96M |
| Total Debt | 1.14B | 933.82M | 1.08B | 866.77M | 791.09M | 35.38M |
| Total Liabilities | 1.44B | 1.25B | 1.39B | 1.19B | 1.08B | 255.24M |
| Stockholders Equity | -275.27M | -88.99M | -589.83M | -167.88M | 602.91M | 757.57M |
Cash Flow | ||||||
| Free Cash Flow | -535.90M | -549.17M | -675.00M | -755.94M | -506.06M | -483.57M |
| Operating Cash Flow | -535.90M | -549.17M | -674.88M | -755.65M | -502.73M | -481.17M |
| Investing Cash Flow | 0.00 | 0.00 | -116.00K | -284.00K | 229.31M | -2.40M |
| Financing Cash Flow | 963.47M | 847.96M | 346.81M | -7.54M | 1.12B | -4.86M |
Hansa Biopharma AB Technical Analysis
Negative
29.04
Price Trends
32.07
Negative
32.72
Negative
31.90
Negative
Market Momentum
-0.57
Positive
41.71
Neutral
8.83
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:HNSA, the sentiment is Negative. The current price of 29.04 is below the 20-day moving average (MA) of 30.28, below the 50-day MA of 32.07, and below the 200-day MA of 31.90, indicating a bearish trend. The MACD of -0.57 indicates Positive momentum. The RSI at 41.71 is Neutral, neither overbought nor oversold. The STOCH value of 8.83 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:HNSA.
Hansa Biopharma AB Peers Comparison
UnderperformOutperform
Sector (55)
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 | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | kr945.22M | 7.07 | 81.19% | ― | ― | ― | |
50 Neutral | kr2.81B | -5.68 | -49.96% | ― | -96.51% | -74.30% | |
47 Neutral | kr1.44B | -5.81 | -47.20% | ― | 406.86% | 22.48% | |
45 Neutral | kr2.77B | -4.13 | ― | ― | 4.84% | 17.25% | |
45 Neutral | kr1.22B | -7.05 | -35.03% | ― | ― | 46.92% |
* General Sector Average
SE:HNSA
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Hansa Biopharma AB Corporate Events
Hansa Biopharma Extends Cash Runway and Advances Imlifidase Toward Key U.S. FDA Decision
Apr 23, 2026
Hansa Biopharma reported a transitionary first quarter of 2026, with revenue falling to 34.6 MSEK from 66.3 MSEK a year earlier, reflecting a European business reorganization and rollout of structural initiatives, while European sales were primari...
Hansa Biopharma sets Q1 2026 earnings call and business update
Apr 8, 2026
Hansa Biopharma will publish its interim report for the first quarter of 2026 on 23 April and hold a conference call the same day, hosted by its top executives, to review financial results and provide a business and pipeline update. The English-la...
Hansa Biopharma Raises USD 30 Million via Convertible Notes to Back U.S. Imlifidase Launch
Mar 20, 2026
Hansa Biopharma has secured a USD 30 million unsecured convertible senior notes financing from funds managed by Athyrium Capital Management, extending its cash runway into mid-2027. The funding is intended to support a robust planned U.S. launch o...
Hansa Biopharma to Present Commercial Strategy at Redeye Life Science Event
Mar 13, 2026
Hansa Biopharma AB, a commercial-stage Swedish biopharmaceutical group specializing in IgG-cleaving enzyme-based immunomodulatory therapies for severe immune-mediated conditions, operates across Europe and the U.S. and is listed on Nasdaq Stockhol...
Hansa Biopharma to Spotlight Immunomodulatory Platform at DNB Carnegie Healthcare Conference
Mar 10, 2026
Hansa Biopharma AB, a Swedish commercial-stage biopharmaceutical company specializing in IgG-cleaving immunomodulatory therapies for transplantation, gene therapy and autoimmune diseases, is expanding its reach with products such as imlifidase and...
Hansa Biopharma leadership to spotlight growth strategy at LSX Investival USA
Mar 9, 2026
Hansa Biopharma AB will showcase its leadership in immunomodulatory therapies at the LSX Investival Showcase USA in Miami, where CEO Renée Aguiar-Lucander is set to join a panel titled “The Path to Public: Mastering Your Exit Strategy&#...
Hansa Biopharma to Spotlight Immunomodulatory Platform at Leerink Global Healthcare Conference
Mar 6, 2026
Hansa Biopharma AB, a commercial-stage biopharmaceutical company specializing in novel immunomodulatory therapies for acute and complex immune disorders, is advancing a pipeline built around its proprietary IgG-cleaving enzyme platform. Its lead a...
Hansa Biopharma Secures FDA PDUFA Date for Imlifidase in High-Risk Kidney Transplant Patients
Mar 4, 2026
Hansa Biopharma has received a Prescription Drug User Fee Act (PDUFA) action date of December 19, 2026, from the U.S. Food and Drug Administration for the Biologics License Application of its drug imlifidase. If approved, imlifidase would become t...
Hansa Biopharma to Present Corporate Strategy at TD Cowen Health Care Conference
Feb 23, 2026
Hansa Biopharma will showcase its corporate strategy and pipeline at TD Cowen’s 46th Annual Health Care Conference in Boston on 2 March 2026, with CEO Renée Aguiar-Lucander delivering a presentation and senior executives including the C...
Hansa Biopharma Wins FDA Review Acceptance for Imlifidase Kidney Transplant Therapy
Feb 18, 2026
Hansa Biopharma has had its Biologics License Application for imlifidase accepted for review by the U.S. Food and Drug Administration, a key regulatory milestone for its first-in-class IgG-cleaving enzyme therapy. The filing is backed by pivotal P...
Hansa Biopharma Delivers Strong Q4 Growth and Files FDA Application for Imlifidase
Feb 11, 2026
Hansa Biopharma reported a strong fourth quarter, with revenue rising 135% year-on-year to 76.0 MSEK and full-year revenue reaching 222.3 MSEK, driven by 46% growth in IDEFIRIX product sales and broader uptake across key European markets, includin...
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.