Immunicum AB (IMMU) AI Stock Analysis

• Market Cap: €359.90M
• Dividend Yield: N/A
• Average Volume (3M): 31.63K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.53
• Revenue Growth: N/A
• EPS Growth: 39.56%
• Country: SE
• Employees: 28
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.45
• Shares Outstanding: 52,084,580
• 10 Day Avg. Volume: 33,627
• 30 Day Avg. Volume: 31,632
• PEG Ratio: 0.07
• Price to Book (P/B): 0.59
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.65
• 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: €7.53
• Price Target Upside: 8.78% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 47 Neutral
• Price Target: kr7.50 ▲(8.38% Upside)

Immunicum AB's overall stock score is primarily impacted by its weak financial performance, characterized by declining revenues and persistent losses. Technical analysis provides a slightly more positive outlook with some longer-term stability, but valuation remains a concern due to the negative P/E ratio and lack of dividends. The absence of earnings call data and notable corporate events means these factors do not influence the score.

Immunicum AB Business Overview & Revenue Model

Company Description

Mendus AB (publ), a biopharmaceutical company, develops immunotherapies and relapse vaccines for the treatment of cancer. Its lead product is ilixadencel, which is in Phase II MERECA clinical trial for the treatment of kidney cancer; and Phase I/II clinical trial to treat liver cancer and gastrointestinal stromal tumors. The company's products also comprise DCP-001, which is in Phase II ADVANCE-II clinical trial for the treatment of acute myeloid leukemia; and Phase I/II ALISON clinical trial for the treatment of ovarian cancers. It has a research collaboration with PCI Biotech Holding ASA for novel cancer vaccination treatment; and with Icahn School of Medicine at Mount Sinai. The company was formerly known as Immunicum AB (publ) and changed its name to Mendus AB (publ) in June 2022. Mendus AB (publ) was incorporated in 2002 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Immunicum AB generates revenue primarily through the development and commercialization of its proprietary immune therapies. The company may also enter into strategic collaborations and partnerships with other pharmaceutical companies, which can involve licensing agreements, milestone payments, and royalties on product sales. Additionally, Immunicum may receive funding from grants and research institutions to support its research and development activities. The success of its clinical trials and subsequent regulatory approvals are significant factors influencing its financial performance and potential revenue streams.

Immunicum AB Financial Statement Overview

Summary

Immunicum AB is struggling financially, with declining revenues, persistent losses, and negative cash flow trends. The company's robust equity ratio suggests a strong capital base, but the lack of profitability and cash flow issues pose significant risks. With a need for strategic improvements and potential external financing, the company must address its operational inefficiencies and explore revenue growth opportunities to stabilize its financial health.

Income Statement

Immunicum AB has experienced a significant decrease in revenue from 2023 to 2024, dropping from 28.49 million to 5.05 million SEK. Despite maintaining a gross profit margin of 100% in 2024 due to revenue equaling gross profit, the company suffers from negative net income and EBIT margins, indicating continued challenges in achieving profitability. The net profit margin and EBIT margin are deeply negative, reflecting substantial operational losses.

Balance Sheet

The balance sheet shows a relatively healthy equity position with a high equity ratio of approximately 92.6% in 2024. However, the debt-to-equity ratio is low at 0.03, indicating minimal leverage, which can be positive in terms of risk but may limit growth opportunities through debt financing. The company’s return on equity remains negative due to persistent net losses.

Cash Flow

Immunicum AB faced negative free cash flow growth from 2023 to 2024, declining from -164.58 million to -81.51 million SEK. The operating cash flow to net income ratio is negative, highlighting inefficiencies in converting income into cash. The free cash flow to net income ratio is also negative, reflecting ongoing operational challenges and cash burn.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.98M	0.00	28.49M	3.00M	6.00K	0.00
Gross Profit	1.42M	-6.52M	28.49M	-1.85M	-1.84M	-1.77M
EBITDA	-100.17M	-124.16M	-97.85M	-128.67M	-128.28M	-84.25M
Net Income	-107.71M	-128.40M	-101.62M	-136.99M	-136.69M	-92.47M
Balance Sheet
Total Assets	645.28M	696.36M	755.95M	620.39M	720.98M	728.66M
Cash, Cash Equivalents and Short-Term Investments	58.91M	101.91M	120.78M	41.85M	155.31M	167.64M
Total Debt	19.89M	22.71M	24.49M	78.16M	36.98M	35.04M
Total Liabilities	48.00M	51.22M	51.23M	105.95M	64.24M	67.57M
Stockholders Equity	597.28M	645.15M	704.73M	514.44M	656.74M	661.09M
Cash Flow
Free Cash Flow	-68.11M	-81.51M	-164.58M	-121.43M	-139.39M	-57.09M
Operating Cash Flow	-67.60M	-79.67M	-162.76M	-109.33M	-138.03M	-56.63M
Investing Cash Flow	-696.00K	-1.58M	-442.00K	-12.32M	-1.36M	157.30M
Financing Cash Flow	-3.21M	61.52M	242.10M	8.19M	127.03M	50.90M

Immunicum AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.92
• 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:IMMU, the sentiment is Negative. The current price of 6.92 is below the 20-day moving average (MA) of 7.43, below the 50-day MA of 7.89, and below the 200-day MA of 7.23, indicating a bearish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 43.89 is Neutral, neither overbought nor oversold. The STOCH value of 2.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:IMMU.

Immunicum AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
XBRANE	54 Neutral	625.18M	5.09	20.64%	―	38.50%	0.00%
IMMU	47 Neutral	€359.90M	―	-16.60%	―	―	39.56%
MAGLE	46 Neutral	417.12M	-35.67	-3.81%	―	60.52%	-179.01%
IVACC	45 Neutral	366.71M	-1.82	-21.92%	―	86.56%	49.49%
GUARD	32 Underperform	419.49M	-2.47	0.00%	―	0.00%	-20.61%
CANTA	31 Underperform	683.68M	-3.64	0.00%	―	0.00%	38.99%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%