NextCell Pharma AB (NXTCL) AI Stock Analysis

• Market Cap: kr144.81M
• Dividend Yield: N/A
• Average Volume (3M): 237.08K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.20
• Revenue Growth: 2.56%
• EPS Growth: 52.76%
• Country: SE
• Employees: 24
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.08
• Shares Outstanding: 111,392,960
• 10 Day Avg. Volume: 155,192
• 30 Day Avg. Volume: 237,081
• PEG Ratio: 0.13
• Price to Book (P/B): 1.36
• Price to Sales (P/S): 8.24
• P/FCF Ratio: -2.09
• 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: 52 Neutral
• Price Target: kr1.00 ▲(8.70% Upside)

The score is held back primarily by weak financial performance—deep losses, negative gross profit, and ongoing cash burn—despite the benefit of zero debt. Technical indicators are a key offset, showing improving price momentum above major moving averages, while valuation remains unattractive/unclear given negative earnings and no dividend data.

Positive Factors

Zero debt / financial flexibility

Zero reported debt is a durable structural strength: it reduces fixed financial obligations, preserves flexibility to fund R&D or bridge operations via equity or partnerships, and lowers bankruptcy risk. Over 2–6 months this supports the ability to pursue clinical milestones without interest burden.

Recurring stem‑cell banking revenue

A recurring service business (Cellaviva) supplies steady, contract-driven cash inflows that are less volatile than drug sales. This diversifies cash sources, helps fund operating costs during development cycles, and increases predictability of near-term revenue versus pure R&D biotechs.

Consistent revenue growth

Sustained top-line growth indicates commercial traction in the services business and potential scale benefits. Over months this trend can support margin improvement, improve leverage of fixed processing infrastructure, and make the company a more attractive partner or acquirer for its cell therapy platform.

Negative Factors

Deep, persistent unprofitability

Very large negative margins and persistent unprofitability are structural constraints: they erode equity, limit reinvestment capacity, and mean future commercialization depends on achieving major clinical/regulatory milestones or external funding, increasing long‑term execution risk.

Ongoing negative cash flow / cash burn

Consistent negative operating and free cash flows create durable financing needs. Continued cash burn forces dilution, debt or partnership dependence, constrains clinical programs' pacing, and can delay milestones or commercialization absent reliable non‑dilutive funding.

Eroding equity base and dilution risk

A materially reduced equity base signals past dilution or accumulated losses, weakening the capital cushion against adverse outcomes. Structurally, this increases probability of future dilutive raises to fund operations or trials and reduces flexibility to absorb setbacks.

NextCell Pharma AB Business Overview & Revenue Model

Company Description

NextCell Pharma AB (NXTCL) is a Swedish biopharmaceutical company focused on the development and commercialization of advanced therapies for immune-related diseases. The company specializes in stem cell-based treatments, with its flagship product, ProTrans, developed for the treatment of autoimmune conditions such as Type 1 Diabetes. NextCell Pharma operates within the biotechnology and healthcare sectors, aiming to leverage cutting-edge research to provide innovative therapeutic solutions.

How the Company Makes Money

NextCell Pharma AB generates revenue primarily through the development and commercialization of its proprietary stem cell-based treatments. The company earns money by advancing its products through clinical trials and eventually licensing them to larger pharmaceutical companies for distribution and sale. Partnerships and collaborations with research institutions and healthcare organizations play a significant role in the company's business model, providing financial support for research and development activities. Additionally, NextCell Pharma seeks to secure grants and funding from government and non-governmental entities to support its innovative research efforts.

NextCell Pharma AB Financial Statement Overview

Summary

Revenue is growing (about 9.6% in FY2025) and the company has no debt, but fundamentals remain weak: gross profit is negative, net losses are very large (FY2025 net margin around -321%), and operating/free cash flow are consistently negative (FY2025 FCF about -43M). Equity has also declined materially over multiple years, increasing dilution/erosion risk.

Income Statement

Revenue has grown steadily over time (including ~9.6% growth in FY2025), but the business remains deeply unprofitable. Profitability is the key weakness: gross profit is negative and net losses are very large relative to revenue across all years, with FY2025 net margin still around -321%. This profile suggests a company still in heavy development/investment mode with limited operating leverage so far.

Balance Sheet

The balance sheet is a clear relative strength: the company reports zero debt and therefore no leverage pressure, which improves financial flexibility. However, equity has declined meaningfully from prior years (e.g., from ~150M in FY2021 to ~66M in FY2025), and returns on equity are consistently negative, reflecting ongoing losses and a shrinking capital base over time.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are consistently negative, indicating ongoing cash burn to fund operations. Free cash flow burn has improved in FY2024–FY2025 versus FY2023, but FY2025 still shows roughly -43M in free cash flow. A modest positive is that free cash flow tracks net losses relatively closely (free cash flow to net income near ~1.1 in FY2025), suggesting limited non-cash distortion—yet the absolute cash burn remains the central risk.

Breakdown	TTM	Dec 2025	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	10.94M	―	10.94M	10.66M	10.11M	5.59M
Gross Profit	-7.69M	―	-35.87M	-4.56M	-884.83K	-22.26M
EBITDA	-32.63M	―	-32.63M	-40.99M	-39.36M	-34.10M
Net Income	-35.14M	―	-35.14M	-41.96M	-39.81M	-34.08M
Balance Sheet
Total Assets	76.73M	―	76.73M	81.29M	88.83M	124.66M
Cash, Cash Equivalents and Short-Term Investments	38.72M	―	38.72M	46.79M	50.03M	97.12M
Total Debt	0.00	―	0.00	0.00	0.00	0.00
Total Liabilities	10.34M	―	10.34M	13.69M	13.10M	9.12M
Stockholders Equity	66.39M	―	66.39M	67.60M	75.73M	115.54M
Cash Flow
Free Cash Flow	-43.05M	―	-43.05M	-37.86M	-47.92M	-40.90M
Operating Cash Flow	-38.86M	―	-38.86M	-37.78M	-43.83M	-33.31M
Investing Cash Flow	-4.24M	―	-4.24M	-83.51K	-4.10M	-9.37M
Financing Cash Flow	35.03M	―	35.03M	34.63M	835.66K	608.17K

NextCell Pharma AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.92
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NXTCL, the sentiment is Positive. The current price of 0.92 is below the 20-day moving average (MA) of 1.07, above the 50-day MA of 0.87, and below the 200-day MA of 1.00, indicating a bullish trend. The MACD of 0.16 indicates Negative momentum. The RSI at 60.09 is Neutral, neither overbought nor oversold. The STOCH value of 38.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:NXTCL.

NextCell Pharma AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NXTCL	52 Neutral	kr144.81M	-2.95	-52.45%	―	2.56%	52.76%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
NICA	44 Neutral	kr36.14M	-0.72	-294.38%	―	186.74%	73.17%
BIOVIC.B	44 Neutral	kr126.96M	-0.81	-72.82%	―	40.91%	57.92%
MODTX	43 Neutral	kr37.70M	-1.37	-166.94%	―	―	-19.35%
ALZ	42 Neutral	kr81.37M	-2.71	-20.85%	―	-67.00%	13.62%
BIOSGN	42 Neutral	kr98.63M	-2.92	-201.21%	―	―	49.09%