IRLAB Therapeutics AB Class A (IRLAB.A) AI Stock Analysis

• Market Cap: kr153.91M
• Dividend Yield: N/A
• Average Volume (3M): 244.46K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.44
• Revenue Growth: 69.03%
• EPS Growth: 23.10%
• Country: SE
• Employees: 31
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.24
• Shares Outstanding: 84,858,246
• 10 Day Avg. Volume: 145,848
• 30 Day Avg. Volume: 244,458
• PEG Ratio: 0.13
• Price to Book (P/B): 17.09
• Price to Sales (P/S): 5.89
• P/FCF Ratio: -8.48
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: kr2.00 ▼(-0.50% Downside)

The score is primarily constrained by weak financial performance—persistent losses, negative margins, and ongoing cash burn despite improving revenue growth and lower leverage. Technical indicators also point to a still-weak trend (below key moving averages and negative MACD), while valuation is difficult to assess due to the negative P/E and no dividend yield.

Positive Factors

Sustained Revenue Growth

Consistent TTM revenue growth indicates improving partner interest and pipeline monetization potential. Over 2–6 months this trend supports higher probability of milestone payments or collaborations, strengthening long-term commercial prospects if R&D advances continue to convert into partner-backed revenue.

Meaningful Deleveraging

A materially lower debt-to-equity ratio reduces solvency and refinancing risk and increases financial flexibility to fund clinical programs. Over several months this makes the balance sheet more resilient to funding shocks and lowers pressure for immediate dilutive financing events.

Focused CNS R&D Strategy

A concentrated therapeutic focus builds deep domain expertise and targeted pipeline assets, improving odds of meaningful clinical progress and attractive partnerships. Structurally, specialization can create durable competitive advantage in CNS drug discovery and partner appeal over the medium term.

Negative Factors

Persistent Operating Losses

Ongoing negative gross profit and recurring operating losses erode financial resilience, requiring continued outside funding. Over months this limits runway, raises dilution risk, and constrains reinvestment in trials unless clinical milestones trigger non-dilutive partner financing.

Continued Cash Burn

Sustained negative operating and free cash flow mean the company cannot self-fund development. This structural cash burn increases dependency on partnerships, licensing, or capital markets, raising execution risk and potential dilution over the next several quarters absent a material financing event.

Eroding Equity and Negative ROE

Material equity decline and deeply negative ROE signal repeated value destruction and dilution from financing. Over the medium term this weakens investor buffer against setbacks, increases cost of capital, and can impair ability to secure favorable partnership terms or non-dilutive funding.

IRLAB Therapeutics AB Class A Business Overview & Revenue Model

Company Description

IRLAB Therapeutics AB (publ) develops drugs for the treatment of Parkinson's disease. The company develops Mesdopetam that is in phase IIb/III clinical studies for the treatment of dyskinesia; and Pirepemat, which is in phase IIb clinical trial for the treatment of Postural dysfunction. Its preclinical stage products include IRL942 and 1009 research programs for the treatment of neurodegenerative disorders and ageing; and IRL757 to treat apathy in neurological diseases. In addition, the company develops P003, a research project that develops drugs for the treatment of newly diagnosed Parkinson's disease. IRLAB Therapeutics AB (publ) was incorporated in 2013 and is based in Gothenburg, Sweden.

How the Company Makes Money

IRLAB Therapeutics generates revenue primarily through the development and commercialization of its drug candidates. The company's business model includes obtaining funding through partnerships with larger pharmaceutical companies, grants, and potential licensing agreements for its proprietary technologies and drug candidates. Additionally, IRLAB may receive milestone payments and royalties from collaborations when their products reach certain development stages or achieve commercial success. The company's focus on clinical trials and regulatory approvals plays a critical role in securing investments and partnerships that contribute to its revenue streams.

IRLAB Therapeutics AB Class A Financial Statement Overview

Summary

Revenue is growing (~13% TTM) and leverage improved (debt-to-equity down to ~0.55), but the core financial profile remains weak with negative gross profit, large ongoing net losses, deeply negative ROE, and continued negative operating and free cash flow indicating ongoing funding risk.

Income Statement

TTM (Trailing-Twelve-Months) revenue grew ~13%, continuing strong growth after the step-change from 2023 to 2024, which is a positive sign for pipeline/partnering momentum. However, profitability remains very weak: gross profit is negative and operating losses are large, with net losses in every period since 2022 and extremely negative margins, indicating the business is still heavily investment-led and not close to breakeven. Overall, growth is present, but the earnings quality and margin profile are a clear constraint.

Balance Sheet

Leverage improved meaningfully: debt-to-equity fell from ~1.85 (2024) to ~0.55 in TTM (Trailing-Twelve-Months), reducing balance-sheet risk versus last year. That said, equity has declined materially from earlier years and returns on equity are deeply negative in TTM (Trailing-Twelve-Months), reflecting ongoing losses and dilution/consumption of capital over time. Net-net, the balance sheet looks more manageable than 2024, but still pressured by persistent losses.

Cash Flow

Cash burn remains substantial with negative operating cash flow and negative free cash flow in TTM (Trailing-Twelve-Months). Burn improved versus 2024 (less negative), but free cash flow growth is still down year-over-year, and the company has not demonstrated consistent self-funding ability outside of 2021. The cash flow profile suggests continued reliance on external financing unless operating performance improves.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	85.56M	94.63M	5.68M	61.14M	207.78M	300.00K
Gross Profit	-33.35M	-92.42M	-122.73M	-111.23M	168.69M	-1.70M
EBITDA	-68.62M	-68.07M	-173.32M	-109.13M	55.79M	-89.46M
Net Income	-91.91M	-83.13M	-177.84M	-114.20M	51.78M	-91.85M
Balance Sheet
Total Assets	―	136.21M	177.12M	323.56M	472.45M	370.07M
Cash, Cash Equivalents and Short-Term Investments	―	66.92M	111.31M	252.78M	401.90M	277.01M
Total Debt	―	60.42M	27.57M	3.98M	6.60M	2.93M
Total Liabilities	―	103.58M	61.36M	32.72M	72.97M	22.19M
Stockholders Equity	―	32.63M	115.76M	290.83M	399.48M	347.88M
Cash Flow
Free Cash Flow	-53.65M	-65.79M	-165.14M	-145.99M	127.93M	-89.61M
Operating Cash Flow	-53.65M	-65.59M	-164.85M	-142.61M	128.64M	-89.21M
Investing Cash Flow	0.00	-199.00K	-293.00K	-3.38M	-708.00K	-394.00K
Financing Cash Flow	73.39M	21.40M	23.68M	-3.13M	-3.04M	256.09M

IRLAB Therapeutics AB Class A Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.01
• 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:IRLAB.A, the sentiment is Negative. The current price of 2.01 is above the 20-day moving average (MA) of 1.93, below the 50-day MA of 2.02, and below the 200-day MA of 3.65, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 33.72 is Neutral, neither overbought nor oversold. The STOCH value of 10.96 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:IRLAB.A.

IRLAB Therapeutics AB Class A 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%
XINT	49 Neutral	kr253.21M	-4.59	―	―	-7.68%	17.93%
ELIC	47 Neutral	kr259.67M	-15.57	-48.30%	―	―	52.96%
INIT	47 Neutral	kr205.36M	-10.41	―	―	―	―
IRLAB.A	46 Neutral	kr153.91M	-1.15	-199.86%	―	69.03%	23.10%
ISOFOL	44 Neutral	kr187.92M	-2.33	-51.35%	―	―	-34.02%
ACTI	41 Neutral	kr109.66M	-1.29	-1291.15%	―	―	28.54%

IRLAB Therapeutics AB Class A Corporate Events

IRLAB partners with Denmark’s Biomia to apply AI-driven ISP platform to CNS drug candidates

IRLAB Therapeutics has entered a collaboration with Danish biotech firm Biomia ApS to apply IRLAB’s Integrative Screening Process (ISP) platform to Biomia’s small-molecule drug candidates targeting undisclosed central nervous system indications. Under the agreement, IRLAB will use its ML/AI-supported ISP technology to provide phenotypic characterization, indication prediction, and differentiation versus existing treatments for Biomia’s novel chemistries, while Biomia supplies the compounds and funds the studies, reinforcing IRLAB’s position as a specialist CNS discovery partner and potentially expanding the commercial reach and validation of its ISP platform within the broader biotech ecosystem.

The most recent analyst rating on ($SE:IRLAB.A) stock is a Sell with a SEK2.00 price target. To see the full list of analyst forecasts on IRLAB Therapeutics AB Class A stock, see the SE:IRLAB.A Stock Forecast page.

IRLAB Wins Green Light for Phase Ib Trial of Novel Apathy Drug in Parkinson’s

IRLAB Therapeutics has obtained regulatory and ethical approval to initiate a Phase Ib clinical study of its drug candidate IRL757 in Parkinson’s disease patients suffering from apathy, a disabling symptom for which no approved treatments currently exist. The fully MSRD-funded trial will enroll 75 patients across 16 sites in Germany, Bulgaria, Poland and Spain, building on earlier Phase I studies in healthy adults that demonstrated good absorption, systemic exposure and no serious adverse events. IRL757, which has shown positive effects on cognitive function and motivation in preclinical models through its proposed ability to restore disrupted cortical–subcortical nerve signalling, is being advanced under a collaboration with Otsuka group’s McQuade Center and could emerge as the first approved therapy for apathy in Parkinson’s and other neurodegenerative diseases, targeting a large, currently underserved patient population in the US, Europe and other major markets.

The most recent analyst rating on ($SE:IRLAB.A) stock is a Sell with a SEK2.00 price target. To see the full list of analyst forecasts on IRLAB Therapeutics AB Class A stock, see the SE:IRLAB.A Stock Forecast page.

IRLAB Secures New Patent for Mesdopetam, Strengthening Market Position

IRLAB Therapeutics AB announced that the European Patent Office intends to grant a new patent for mesdopetam, covering various salt forms of the drug candidate. This patent enhances the intellectual property portfolio of mesdopetam, supporting its market exclusivity and commercialization efforts, which could significantly impact the company’s operations and industry positioning by extending market exclusivity into the mid-2040s across major markets.

The most recent analyst rating on ($SE:IRLAB.A) stock is a Sell with a SEK2.00 price target. To see the full list of analyst forecasts on IRLAB Therapeutics AB Class A stock, see the SE:IRLAB.A Stock Forecast page.

IRLAB to Present at Redeye Technology & Life Science Day 2025

IRLAB Therapeutics AB announced its participation in the Redeye Technology & Life Science Day 2025, where CEO Kristina Torfgård and EVP Nicholas Waters will present and engage in a Q&A session. This event highlights IRLAB’s active engagement in the scientific community and provides a platform to showcase its advancements in Parkinson’s disease treatments, potentially strengthening its industry position and stakeholder relations.

The most recent analyst rating on ($SE:IRLAB.A) stock is a Sell with a SEK2.50 price target. To see the full list of analyst forecasts on IRLAB Therapeutics AB Class A stock, see the SE:IRLAB.A Stock Forecast page.

IRLAB Therapeutics Appoints Nomination Committee for 2026 AGM

IRLAB Therapeutics AB has announced the appointment of its nomination committee for the 2026 annual general meeting. The committee includes representatives from the company’s largest shareholders, collectively holding about 36% of shares and votes, and will present proposals for the AGM scheduled for May 20, 2026. This move is part of IRLAB’s ongoing corporate governance efforts, reflecting its commitment to shareholder engagement and strategic planning.

The most recent analyst rating on ($SE:IRLAB.A) stock is a Sell with a SEK2.50 price target. To see the full list of analyst forecasts on IRLAB Therapeutics AB Class A stock, see the SE:IRLAB.A Stock Forecast page.

IRLAB’s Research Advances Highlighted at AD/PD 2026 Conference

IRLAB Therapeutics announced the acceptance of two abstracts for presentation at the AD/PD 2026 conference, highlighting their research on Parkinson’s disease. This participation is expected to enhance their scientific network and boost confidence in their drug development pipeline, potentially impacting their position in the industry.

The most recent analyst rating on ($SE:IRLAB.A) stock is a Sell with a SEK2.50 price target. To see the full list of analyst forecasts on IRLAB Therapeutics AB Class A stock, see the SE:IRLAB.A Stock Forecast page.