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Nanologica AB
(NICA)
Nanologica AB (NICA) vs. iShares MSCI Sweden ETF (EWD)
Nanologica AB Business Overview & Revenue Model
Nanologica AB Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 21.13M | 14.54M | 1.44M | 1.55M | 12.91M |
| Gross Profit | -49.40M | 4.29M | -76.00K | 3.23M | 4.92M |
| EBITDA | -34.55M | -45.17M | -62.12M | -38.36M | -31.13M |
| Net Income | -51.29M | -65.63M | -75.16M | -55.09M | -50.13M |
Balance Sheet | |||||
| Total Assets | 88.11M | 143.10M | 77.43M | 154.51M | 98.32M |
| Cash, Cash Equivalents and Short-Term Investments | 3.55M | 48.43M | 10.05M | 70.32M | 11.70M |
| Total Debt | 21.47M | 50.94M | 666.00K | 4.69M | 9.79M |
| Total Liabilities | 65.47M | 68.99M | 79.33M | 81.36M | 46.72M |
| Stockholders Equity | 22.64M | 74.11M | -1.90M | 73.16M | 51.60M |
Cash Flow | |||||
| Free Cash Flow | -40.88M | -81.48M | -56.83M | -53.78M | -53.74M |
| Operating Cash Flow | -39.88M | -80.73M | -35.85M | -45.22M | -46.49M |
| Investing Cash Flow | -1.08M | -742.00K | -20.35M | -7.14M | -7.25M |
| Financing Cash Flow | -3.21M | 120.23M | -4.09M | 111.70M | -1.64M |
Nanologica AB Technical Analysis
Nanologica AB Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | kr80.05M | -1.64 | -106.95% | ― | -48.15% | 51.95% | |
44 Neutral | kr135.90M | -1.48 | -52.45% | ― | 2.56% | 52.76% | |
43 Neutral | kr118.10M | -1.34 | -294.38% | ― | 186.74% | 73.17% | |
43 Neutral | kr95.30M | -2.37 | -72.82% | ― | 40.91% | 57.92% | |
42 Neutral | kr104.22M | -4.20 | -21.31% | ― | -67.00% | 13.62% | |
42 Neutral | kr87.82M | -1.86 | -120.13% | ― | ― | 49.09% |
Nanologica AB Corporate Events
Nanologica reported 2025 net sales of SEK 21.1 million, up from SEK 14.5 million, while narrowing its full-year operating loss to SEK 46.8 million and loss after tax to SEK 51.3 million, though cash and cash equivalents fell sharply to SEK 3.5 million at year-end. During the fourth quarter the company secured multiple evaluation and sampling orders for its NLAB Saga® purification media from customers and distribution partners in China, the U.S., and Asia, as well as an order for a non-silica-based media linked to its broader development program.
After year-end the company acquired Södertälje-based contract manufacturer Ardena Södertälje AB, rebranded Syntagon AB, in an all-share deal designed to boost production capacity, expertise, and synergies, with expectations of positive earnings and cash flow contributions. To reinforce its strained balance sheet and fund working capital, loan set-offs, and the Syntagon purchase, Nanologica’s board approved directed share issues and a fully secured rights issue totaling approximately SEK 96 million, aiming to underpin continued growth in sales and production of NLAB Saga®.
The most recent analyst rating on (SE:NICA) stock is a Hold with a SEK0.40 price target. To see the full list of analyst forecasts on Nanologica AB stock, see the SE:NICA Stock Forecast page.
Nanologica AB, a Swedish life science tools provider, focuses on advanced purification consumables for peptide drugs like insulin and GLP-1 analogues, helping pharmaceutical manufacturers improve productivity and reduce costs in a niche market expanding with global diabetes and obesity drug demand. The company’s mission is to enhance access to cost-effective, life-saving treatments by extending the performance and durability of its chromatography products, and it is listed on Nasdaq Stockholm’s Main Market.
Nanologica’s main owner, Flerie Invest AB, has proposed Ardena Group CEO Jeremie Trochu as a new board member in connection with Nanologica’s acquisition of Ardena Södertälje, now renamed Syntagon. The nomination, to be decided at an extraordinary general meeting on March 4, is intended to cement ongoing collaboration with Ardena on joint customer projects and service needs, leveraging Trochu’s extensive CDMO and life science experience to support Nanologica’s strategic development.
Trochu brings 20 years of global experience in building and transforming life science and CDMO businesses, including a key role in Catalent’s evolution from private equity spin-off to listed global CDMO. His expertise in small and large molecule development, analytics, and M&A integration is expected to strengthen Nanologica’s board and support the integration and growth of Syntagon within the group.
Nanologica’s chair, Gisela Sitbon, highlighted that Trochu’s willingness to join the board underscores Ardena’s continued interest in Syntagon and the broader partnership. For stakeholders, the move signals a push to deepen commercial collaboration, enhance CDMO-facing capabilities, and potentially accelerate Nanologica’s growth trajectory by aligning its purification technologies more closely with the needs of large outsourcing partners.
The most recent analyst rating on (SE:NICA) stock is a Hold with a SEK0.40 price target. To see the full list of analyst forecasts on Nanologica AB stock, see the SE:NICA Stock Forecast page.
Nanologica’s board has approved a package of capital measures comprising two directed share issues totaling approximately SEK 13.7 million and a fully secured rights issue of about SEK 82.5 million, all at a subscription price of SEK 0.40 per share, subject to approval at an extraordinary general meeting on 4 March 2026. The directed set-off issue to Ardena Sweden AB settles part of the purchase price for the acquisition of Ardena Södertälje AB, while a second directed issue brings in new investors, including Exmere Ltd and CEO Andreas Bhagwani, and the rights issue—backed 100% by subscription and underwriting commitments, with main owner Flerie Invest AB taking a dominant role and converting loans—aims to strengthen Nanologica’s balance sheet and secure working capital for scaling production and sales of its NLAB Saga® silica media, while also reducing debt through set-offs and potential additional directed issues to lenders and underwriters.
The most recent analyst rating on (SE:NICA) stock is a Sell with a SEK0.51 price target. To see the full list of analyst forecasts on Nanologica AB stock, see the SE:NICA Stock Forecast page.
Nanologica AB has called an Extraordinary General Meeting for March 4, 2026, in Stockholm, where shareholders will vote on a series of capital structure and governance measures, including the adoption of new Articles of Association and multiple share issues. The board proposes a substantial increase in the permitted share capital range and number of shares to enable a planned rights issue and related directed and set-off share issues, as well as authorization for additional share issues to underwriters, a package that would significantly expand the company’s equity base and dilute existing holdings while potentially strengthening its financial position and strategic flexibility for future growth.
The most recent analyst rating on (SE:NICA) stock is a Sell with a SEK0.51 price target. To see the full list of analyst forecasts on Nanologica AB stock, see the SE:NICA Stock Forecast page.
Nanologica AB has acquired 100% of Ardena Södertälje AB, which will revert to its original name Syntagon AB, in an all-share deal valued at about SEK 8.6 million, adding a 45-employee contract development and manufacturing operation with sales of roughly SEK 80 million in 2025. The acquisition strengthens Nanologica’s production capacity, particularly in API development and manufacturing, is expected to be earnings-accretive in 2026, and offers estimated annual cost synergies of SEK 4–5 million through operational coordination, while a planned rights issue will both finance the transaction and set the subscription price for the seller’s new shares; Syntagon’s Nordic market position, modern facility, and an 18-month lock-up plus a 15‑month take‑or‑pay order commitment from the seller are intended to support profitable growth without additional capital injections into the subsidiary.
The most recent analyst rating on (SE:NICA) stock is a Hold with a SEK0.56 price target. To see the full list of analyst forecasts on Nanologica AB stock, see the SE:NICA Stock Forecast page.
Nanologica AB has secured a SEK 1.5 million order for a new non-silica-based purification media from an Asian customer, marking an early success in their development program aimed at broadening their chromatography media portfolio. The order, expected to be delivered in the first quarter of next year, could potentially enhance the company’s revenue stream in the long term, reflecting positively on its strategic market positioning and operational growth.
The most recent analyst rating on (SE:NICA) stock is a Sell with a SEK1.00 price target. To see the full list of analyst forecasts on Nanologica AB stock, see the SE:NICA Stock Forecast page.