Immunicum AB (SE:IMMU)
:IMMU
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Immunicum AB
(IMMU)
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Rating:49Neutral
Price Target:
kr6.50
▲(12.65% Upside)
Action:Reiterated
Date:06/19/26
The score is held down primarily by very weak financial performance (revenue effectively at zero, continued losses, and negative free cash flow), partially offset by low leverage on the balance sheet. Technicals are currently supportive with price above key moving averages and positive MACD, but momentum is nearing overbought. Valuation is constrained by negative earnings (negative P/E) and no dividend data.
Positive Factors
Low leverage / strong balance sheet
A low debt load and modest leverage provide a durable solvency buffer for a clinical-stage biotech. This reduces short-term bankruptcy risk, gives management flexibility to time financings or partner deals, and supports continued R&D spending without immediate debt pressure.
Negative Factors
Revenue collapse to near zero
Near‑zero revenue removes a stable funding channel and means the company lacks commercial validation. Long term, absence of product sales keeps Immunicum dependent on external financing or partnerships, intensifying execution risk and making sustained operations contingent on pipeline success or asset monetization.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
A low debt load and modest leverage provide a durable solvency buffer for a clinical-stage biotech. This reduces short-term bankruptcy risk, gives management flexibility to time financings or partner deals, and supports continued R&D spending without immediate debt pressure.
Read all positive factors
Immunicum AB (IMMU) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr385.77M
Dividend YieldN/A
Average Volume (3M)38.75K
Price to Earnings (P/E)―
Beta (1Y)0.52
Revenue GrowthN/A
EPS Growth22.09%
CountrySE
Employees28
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.90
Shares Outstanding62,584,580
10 Day Avg. Volume52,324
30 Day Avg. Volume38,751
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)0.50
Price to Sales (P/S)0.00
P/FCF Ratio-3.57
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)-1.6
Revenue Forecast (FY)kr2.50M
Immunicum AB Business Overview & Revenue Model
Company Description
Mendus AB (publ), a biopharmaceutical entity formerly known as Immunicum AB (publ) until its name change in June 2022, specializes in developing immunotherapies and vaccines designed to prevent cancer recurrence. Its primary investigational compou...
How the Company Makes Money
Immunicum AB has historically operated as a clinical-stage biotech and, to the extent publicly available information indicates, has not generated recurring product revenue from marketed therapies. The company’s funding has typically come from exte...
Immunicum AB Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
64
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 28.49M | 3.00M | 6.00K |
| Gross Profit | -4.64M | -6.29M | -6.52M | 28.49M | -1.85M | -1.84M |
| EBITDA | -104.49M | -113.97M | -120.66M | -97.85M | -128.67M | -128.28M |
| Net Income | -103.80M | -113.26M | -128.40M | -101.62M | -136.99M | -136.69M |
Balance Sheet | ||||||
| Total Assets | 634.16M | 628.32M | 696.36M | 755.95M | 620.39M | 720.98M |
| Cash, Cash Equivalents and Short-Term Investments | 74.13M | 64.66M | 101.91M | 120.78M | 41.85M | 155.31M |
| Total Debt | 18.67M | 18.85M | 22.71M | 24.49M | 78.16M | 36.98M |
| Total Liabilities | 69.03M | 43.26M | 51.22M | 51.23M | 105.95M | 64.24M |
| Stockholders Equity | 565.14M | 585.07M | 645.15M | 704.73M | 514.44M | 656.74M |
Cash Flow | ||||||
| Free Cash Flow | -87.36M | -81.84M | -81.51M | -164.58M | -121.43M | -139.39M |
| Operating Cash Flow | -87.09M | -81.53M | -79.67M | -162.76M | -109.33M | -138.03M |
| Investing Cash Flow | 107.00K | -734.00K | -1.58M | -442.00K | -12.32M | -1.36M |
| Financing Cash Flow | 75.35M | 45.18M | 61.52M | 242.10M | 8.19M | 127.03M |
Immunicum AB Technical Analysis
Positive
5.77
Price Trends
5.30
Positive
4.97
Positive
5.53
Positive
Market Momentum
0.09
Negative
69.11
Neutral
87.18
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:IMMU, the sentiment is Positive. The current price of 5.77 is above the 20-day moving average (MA) of 5.40, above the 50-day MA of 5.30, and above the 200-day MA of 5.53, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 69.11 is Neutral, neither overbought nor oversold. The STOCH value of 87.18 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:IMMU.
Immunicum AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | kr537.50M | 3.34 | 81.19% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | kr385.77M | -3.73 | -16.51% | ― | ― | 22.09% | |
49 Neutral | kr212.24M | 2.00 | -16.90% | ― | -72.49% | ― | |
48 Neutral | kr443.06M | -4.96 | -25.80% | ― | 35.23% | 64.44% | |
48 Neutral | kr31.30M | -0.39 | -186.13% | ― | ― | 57.42% | |
41 Neutral | kr30.26M | -0.11 | -4.90% | ― | -3.23% | -1194.44% |
* Healthcare Sector Average
SE:IMMU
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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.