LIDDS AB (LIDDS) AI Stock Analysis

• Market Cap: kr2.43M
• Dividend Yield: N/A
• Average Volume (3M): 48.19K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.01
• Revenue Growth: N/A
• EPS Growth: 86.26%
• Country: SE
• Employees: 1
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): >-0.01
• Shares Outstanding: 136,463,330
• 10 Day Avg. Volume: 51,372
• 30 Day Avg. Volume: 48,191
• PEG Ratio: 0.03
• Price to Book (P/B): 2.24
• Price to Sales (P/S): 432.85
• P/FCF Ratio: -2.51
• 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: 43 Neutral
• Price Target: kr0.02 ▼(-50.00% Downside)

The score is primarily driven by weak financial performance (minimal revenue, continued losses, and cash burn alongside a reduced equity cushion). Technicals add further pressure due to a clearly bearish longer-term trend, while valuation is constrained by negative earnings and the absence of a dividend.

Positive Factors

Proprietary drug‑delivery platform

Owning NanoZolid® offers a structural competitive advantage: a platform for sustained local delivery that can improve efficacy and reduce systemic toxicity. This platform approach increases partnerability and potential licensing across indications, supporting durable value creation if clinical progress continues.

Zero financial leverage

A debt‑free balance sheet materially lowers bankruptcy and interest‑service risk, giving management flexibility to pursue partnerships, R&D or milestone financing. Over months, zero leverage preserves cash flow for operations and reduces fixed obligations versus leveraged peers.

Declining cash burn trend

A sustained reduction in operating and free‑cash‑flow burn indicates improved cost control and operational discipline. Reduced burn lengthens runway, lowers near‑term financing pressure, and improves the odds management can reach clinical inflection points or licensing discussions without immediate dilutive raises.

Negative Factors

Minimal commercial revenue

Near‑zero revenues mean the business is not yet product‑commercial and lacks sustainable internal cash generation. Over the medium term this forces reliance on external financing or licensing for R&D and operations, increasing dilution and execution risk until commercial or partner revenue materializes.

Material erosion of equity

A sharply reduced equity cushion weakens the company’s ability to absorb continued losses and increases the probability of dilutive capital raises. Over months this constrains strategic optionality, heightens investor sensitivity to funding events, and may complicate partnering or credit discussions.

Persistent negative operating cash flow

Sustained negative operating and free cash flow means the company cannot self‑fund development activities. Structurally, this creates ongoing dependence on external financing, which can delay trials, limit investments, and increase execution risk if capital markets or partner options become constrained.

LIDDS AB Business Overview & Revenue Model

Company Description

LIDDS AB (publ), a pharmaceutical company, develops and sells pharmaceutical products for cancer and other diseases in Sweden. It is developing various drugs, such as NZ-2HOF to treat prostate cancer; NZ-DTX to treat breast, prostate, head, neck, stomach, and lung cancer; NZ-DOX for the treatment of solid tumors; NZ-IO, an immunotherapy; NZ-STING for the treatment of immuno-oncology; and NZ-TLR9 for enhancing cancer immunotherapies. LIDDS AB (publ) has a collaboration agreement with PharmIdea SIA to focus on anti-cancer drugs and sterile formulations. The company is based in Uppsala, Sweden.

How the Company Makes Money

LIDDS AB generates revenue through licensing agreements, collaborations, and partnerships with pharmaceutical companies interested in utilizing its NanoZolid® technology for their drug development projects. The company earns upfront payments, milestone payments, and royalties based on the commercial success of products developed using their technology. Additionally, LIDDS might engage in contract research and development services, offering its expertise in drug formulation and delivery. These strategic alliances and service offerings are crucial for the company's financial performance and growth in the competitive pharmaceutical industry.

LIDDS AB Financial Statement Overview

Summary

Financials are very weak and consistent with an early-stage biotech: near-zero revenue, persistent net losses, and ongoing operating/free-cash-flow burn. Positives include zero debt and reduced losses/cash burn versus prior years, but the sharply reduced equity base and continued cash burn keep overall financial risk elevated.

Income Statement

The income statement remains very weak, reflecting a pre-commercial biotech profile. Revenue is minimal and volatile (TTM (Trailing-Twelve-Months) revenue is 0 vs. 32k in 2024), while losses are persistent (TTM net loss ~3.95m; 2024 net loss ~5.94m). Margins are structurally negative in the annual periods where revenue exists, indicating the cost base is far above the current revenue run-rate, though losses have narrowed sharply versus 2021–2023 levels.

Balance Sheet

The balance sheet is mixed: leverage is low (total debt is 0 in TTM and 2024, and debt-to-equity is 0), which reduces financial risk. However, equity has declined materially over time (from ~48.5m in 2021 to ~1.5m in TTM), and returns on equity are deeply negative (TTM ROE about -1.21), reflecting ongoing losses and a shrinking capital buffer.

Cash Flow

Cash flow quality is pressured by sustained cash burn. TTM operating cash flow is about -3.93m and free cash flow about -3.99m, with free cash flow worsening versus the prior period (TTM free cash flow growth about -17%). A positive note is that cash burn has come down significantly compared with 2020–2023, but the business is still not self-funding and will likely remain dependent on external financing until revenues scale.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	32.00K	0.00	1.89M	3.55M	345.00K
Gross Profit	-2.77M	-3.40M	-12.92M	-36.62M	-25.78M	-24.79M
EBITDA	-4.06M	-4.49M	-39.67M	-36.11M	-36.81M	-32.20M
Net Income	-3.95M	-5.94M	-40.21M	-36.86M	-37.27M	-32.33M
Balance Sheet
Total Assets	1.98M	8.16M	17.66M	25.92M	55.58M	54.20M
Cash, Cash Equivalents and Short-Term Investments	1.73M	5.51M	13.51M	5.26M	34.00M	36.07M
Total Debt	0.00	0.00	0.00	3.99M	0.00	0.00
Total Liabilities	491.00K	1.98M	3.76M	10.57M	7.07M	11.40M
Stockholders Equity	1.49M	6.18M	13.90M	15.35M	48.51M	42.81M
Cash Flow
Free Cash Flow	-3.99M	-5.53M	-26.50M	-36.40M	-45.04M	-31.17M
Operating Cash Flow	-3.93M	-5.43M	-26.22M	-35.59M	-42.64M	-27.42M
Investing Cash Flow	-63.00K	11.03M	-282.00K	-810.00K	-2.40M	-3.75M
Financing Cash Flow	-824.00K	-280.00K	34.76M	7.66M	42.97M	59.64M

LIDDS AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.04
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:LIDDS, the sentiment is Neutral. The current price of 0.04 is above the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.04, and below the 200-day MA of 0.06, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 47.29 is Neutral, neither overbought nor oversold. The STOCH value of 72.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:LIDDS.

LIDDS 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%
FLUI	46 Neutral	kr11.68M	-1.18	-45.97%	―	―	―
LIDDS	43 Neutral	kr2.43M	-0.51	-132.58%	―	―	86.26%
LARK	43 Neutral	kr43.76M	-0.98	―	8.47%	-94.12%	-25.83%
STABL	42 Neutral	kr13.45M	-1.25	-91.33%	―	―	64.02%