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Oncopeptides AB (SE:ONCO)
:ONCO

Oncopeptides AB (ONCO) AI Stock Analysis

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SE:ONCO

Oncopeptides AB

(ONCO)

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Neutral 50 (OpenAI - 4o)
Rating:50Neutral
Price Target:
kr5.50
▲(3.00% Upside)
Oncopeptides AB's overall stock score is primarily influenced by its financial challenges, including persistent losses and high leverage. However, the company shows potential with significant revenue growth and a strong cash position. Technical indicators suggest a positive trend, but valuation remains a concern due to ongoing losses. The earnings call provided a balanced view with both growth prospects and existing challenges.
Positive Factors
Revenue Growth
Consistent revenue growth over four quarters indicates strong market demand and successful product adoption, enhancing long-term business prospects.
Strong Gross Margin
A high gross margin demonstrates efficient cost management and product pricing power, supporting sustainable profitability as sales grow.
Cash Position
A strong cash position provides financial flexibility to invest in growth opportunities and manage operational challenges, ensuring business continuity.
Negative Factors
Ongoing Net Loss
Persistent net losses highlight operational inefficiencies and may hinder investment in growth initiatives, impacting long-term financial health.
High Leverage
High leverage increases financial risk and limits strategic flexibility, potentially affecting the company's ability to weather economic downturns.
Cash Flow Challenges
Consistent negative cash flows indicate difficulty in generating cash from operations, which could strain resources and limit future growth potential.

Oncopeptides AB (ONCO) vs. iShares MSCI Sweden ETF (EWD)

Oncopeptides AB Business Overview & Revenue Model

Company DescriptionOncopeptides AB (publ), a biotech company, develops pharmaceuticals drugs for the treatment of cancer in the United States, Europe, and internationally. Its lead product candidate is melflufen, an anti-cancer peptide drug conjugate for the treatment of relapsed refractory multiple myeloma in adult patients. Oncopeptides AB (publ) was incorporated in 2000 and is headquartered in Stockholm, Sweden.
How the Company Makes MoneyOncopeptides AB generates revenue primarily through the commercialization of its lead product, melflufen, which is sold to healthcare providers and hospitals for treating patients with multiple myeloma. The company's revenue model is based on product sales, which may include direct sales and potential royalties from licensing agreements. Additionally, Oncopeptides may engage in partnerships with larger pharmaceutical companies for co-development or distribution, which can also provide milestone payments and royalties. The company may also receive funding through grants and research collaborations aimed at furthering its drug development initiatives.

Oncopeptides AB Earnings Call Summary

Earnings Call Date:Nov 05, 2025
(Q3-2025)
|
% Change Since: |
Next Earnings Date:Feb 19, 2026
Earnings Call Sentiment Neutral
The call highlighted significant revenue growth, a strong cash position from a successful rights issue, and robust gross margins. However, challenges include a net loss, seasonal sales impact, particularly in Germany, and delays in securing a partnership in Japan. The sentiment is balanced with positive growth indicators and existing challenges.
Q3-2025 Updates
Positive Updates
Significant Revenue Growth
Net sales reached SEK 20.2 million, representing a 174% increase year-over-year, marking the fourth consecutive quarter-over-quarter growth.
Record Cash Position from Rights Issue
Cash position at the end of the period was SEK 147.9 million after a rights issue of SEK 150 million, which was oversubscribed by 157%.
Strong Gross Margin
Gross profit reached SEK 19.9 million, reflecting a robust gross margin of 99%.
Continued Commercial Traction in Europe
Italy led the growth, Spain reached full regional access, and Germany showed more resilience than the previous year.
Expansion in Scientific Recognition
Pepaxti gained credibility and recognition, resulting in inclusion in clinical guidelines and presentations at major scientific meetings.
Negative Updates
Ongoing Net Loss
Net profit amounted to minus SEK 60.9 million, affected by noncash fair valuation of warrants.
Seasonal Sales Impact
Seasonal slowdown during the European vacation period affected sales, particularly in Germany.
Challenges in German Market
Germany, the largest market, was heavily affected by the vacation period, resulting in a decline in demand in August.
Uncertain Timeline for Japan Partnership
Discussions for a Japanese partnership are advancing but are delayed due to internal processes and governance on the partner's side.
Company Guidance
During Oncopeptides' third-quarter earnings call for 2025, CEO Sofia Heigis and CFO Henrik Bergentoft provided a detailed overview of the company's financial and operational performance. They reported a significant 174% year-over-year increase in net sales to SEK 20.2 million, marking the fourth consecutive quarter of growth. The company's gross profit reached SEK 19.9 million with an impressive 99% gross margin, reflecting strong business scalability. Operating expenses decreased by 3%, contributing to an improved EBIT of minus SEK 47.1 million compared to minus SEK 61.3 million last year. Despite continued investments, the net loss was SEK 60.9 million, impacted by a noncash fair valuation of warrants. Oncopeptides' cash position was SEK 148 million after a successful rights issue oversubscribed by 157%, providing financial flexibility to support ongoing growth and partnership discussions, particularly in Japan. The company's European market showed robust commercial traction, with Italy leading growth, while Spain achieved full regional access, and Germany demonstrated resilience. On the scientific front, Pepaxti gained recognition through inclusion in clinical guidelines and real-world data presentations, further solidifying its market position. Looking forward, Oncopeptides aims for profitability by the end of 2026, driven by strategic cost control, strong revenue growth, and expanded market access.

Oncopeptides AB Financial Statement Overview

Summary
Oncopeptides AB faces financial challenges with persistent losses, high leverage, and cash flow shortfalls. Despite these issues, the company maintains a strong cash position and has secured financing to support operations.
Income Statement
20
Very Negative
Oncopeptides AB has shown inconsistent revenue trends with significant fluctuations over the years. The company has consistently reported negative net income, indicating ongoing losses. Additionally, the high negative EBIT margin reflects operational inefficiencies or high operating costs relative to revenue.
Balance Sheet
35
Negative
The company's balance sheet shows a high level of liabilities compared to its equity, indicating a high debt-to-equity ratio. However, the company maintains a relatively strong cash position, which could help manage short-term liabilities. The equity ratio has deteriorated over time, suggesting decreasing asset financing through equity.
Cash Flow
25
Negative
Oncopeptides AB has consistently reported negative operating and free cash flows, highlighting cash burn issues. Despite this, the company has managed to secure financing to support operations. The free cash flow to net income ratio is negative, emphasizing the challenge in generating cash from its core operations.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue50.87M31.65M35.22M8.36M118.30M0.00
Gross Profit49.13M28.98M36.30M8.35M65.17M-14.40M
EBITDA-260.65M-261.81M-231.62M-319.62M-1.40B-1.58B
Net Income-267.18M-284.61M-249.11M-337.95M-1.43B-1.59B
Balance Sheet
Total Assets136.44M244.19M238.38M385.32M439.38M946.76M
Cash, Cash Equivalents and Short-Term Investments70.15M178.54M173.44M344.51M364.30M852.48M
Total Debt124.23M141.72M126.16M9.54M14.19M19.36M
Total Liabilities203.32M189.91M181.60M91.03M228.51M369.86M
Stockholders Equity-66.88M54.28M56.78M294.29M210.87M576.90M
Cash Flow
Free Cash Flow-324.71M-260.57M-279.61M-423.02M-1.52B-1.31B
Operating Cash Flow-324.71M-260.57M-279.49M-420.51M-1.52B-1.30B
Investing Cash Flow496.00K496.00K-116.00K-2.51M-339.00K-20.13M
Financing Cash Flow11.91M263.81M106.89M392.40M1.03B1.32B

Oncopeptides AB Technical Analysis

Technical Analysis Sentiment
Positive
Last Price5.34
Price Trends
50DMA
5.33
Negative
100DMA
5.10
Positive
200DMA
3.46
Positive
Market Momentum
MACD
0.03
Positive
RSI
50.13
Neutral
STOCH
27.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ONCO, the sentiment is Positive. The current price of 5.34 is above the 20-day moving average (MA) of 5.32, above the 50-day MA of 5.33, and above the 200-day MA of 3.46, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 50.13 is Neutral, neither overbought nor oversold. The STOCH value of 27.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ONCO.

Oncopeptides AB Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
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%
50
Neutral
kr1.38B131.20%32.28%
48
Neutral
€217.39M1.17-16.90%4.64%
47
Neutral
€1.04B-3.56-35.03%25.14%
43
Neutral
€390.59M-2.68-79.60%31.62%
32
Underperform
€97.31M-1.80-1291.15%28.54%
31
Underperform
€815.45M-4.1581.19%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SE:ONCO
Oncopeptides AB
5.17
3.70
251.70%
SE:XBRANE
Xbrane Biopharma AB
10.22
-10.60
-50.91%
SE:ACE
Ascelia Pharma AB
2.98
-0.41
-12.22%
SE:XSPRAY
Xspray Pharma AB
31.00
-11.97
-27.86%
SE:ACTI
Active Biotech AB
0.05
-0.05
-53.00%
SE:CANTA
Cantargia AB
4.41
2.61
144.72%

Oncopeptides AB Corporate Events

Oncopeptides AB Establishes Nomination Committee for 2026 AGM
Nov 21, 2025

Oncopeptides AB has announced the formation of its Nomination Committee for the 2026 annual general meeting. The committee comprises representatives from the company’s three largest shareholders by voting rights, as well as the Chairman of the Board. This development is significant for Oncopeptides as it ensures shareholder representation in the decision-making process, potentially impacting the company’s strategic direction and governance. The committee’s proposals will be shared in the notice for the annual general meeting and on the company’s website.

Expert Panel Endorses Oncopeptides’ Pepaxti for Myeloma Treatment
Nov 11, 2025

Oncopeptides AB announced that a panel of multiple myeloma experts has endorsed the use of its drug Pepaxti, also known as melflufen, for treating relapsed, refractory multiple myeloma. The expert consensus, published in the Annals of Hematology, emphasizes Pepaxti’s effectiveness for heavily pretreated patients, including the elderly and those with high-risk disease profiles, reinforcing its role as a critical treatment option. This endorsement strengthens Pepaxti’s market positioning and confirms its utility across diverse patient subgroups, aligning with findings from pivotal studies and real-world applications.

Oncopeptides AB Reports Strong Q3 2025 Growth and Strategic Milestones
Nov 5, 2025

Oncopeptides AB reported a significant growth in net sales for Q3 2025, with a 174% increase year over year, driven by its key European markets. The company is progressing towards becoming cash flow positive by the end of 2026 and is in negotiations with potential partners in Japan. The period also saw the oversubscription of a rights issue and the inclusion of their drug Pepaxti in European guidelines, which could enhance their market positioning and stakeholder confidence.

Oncopeptides’ NK Cell Engager Study to be Presented at ASH
Nov 3, 2025

Oncopeptides AB announced that a collaborative study on NK cell engagers, part of the Eurostars NKENGAGE project, will be presented at the American Society of Hematology Annual Meeting. The study explores a novel immunotherapeutic approach for multiple myeloma using NK cells, showing promising preclinical results with reduced toxicity compared to T-cell strategies. This recognition at ASH highlights Oncopeptides’ expansion beyond peptide-drug conjugates and its potential to address unmet needs in cancer treatment.

Oncopeptides Adjusts Share Structure Amid Strategic Incentive Program
Oct 31, 2025

Oncopeptides AB announced a change in the number of votes due to the conversion of class C shares to ordinary shares as part of its incentive program. This adjustment reflects the company’s ongoing efforts to align its share structure with its strategic goals, potentially impacting its market positioning and shareholder value.

Oncopeptides to Release Q3 2025 Financial Report
Oct 29, 2025

Oncopeptides AB announced the upcoming release of its Q3 2025 financial report, scheduled for November 5, 2025. The company will host a webcast and Q&A session for investors, analysts, and media, led by CEO Sofia Heigis and CFO Henrik Bergentoft. This event provides stakeholders with insights into the company’s financial performance and strategic direction, potentially impacting its market positioning.

Oncopeptides to Host Strategic Capital Markets Update
Oct 22, 2025

Oncopeptides AB announced it will host a Capital Markets Update on November 13, 2025, to provide insights into its strategic direction and expanding role in the treatment of multiple myeloma. The event will feature presentations from international experts and company leaders, offering clinical, scientific, and market perspectives, which may influence the company’s market positioning and investment appeal.

Oncopeptides’ Pepaxti Shows Promising Long-term Results in Myeloma Treatment
Oct 16, 2025

Oncopeptides AB announced the publication of three case reports in the Journal of Cancer Research and Clinical Oncology, showcasing long-lasting responses to their drug Pepaxti in patients with relapsed or refractory multiple myeloma. These findings, derived from the OCEAN and HORIZON studies, highlight Pepaxti’s potential as a significant treatment option for patients who may not have access to novel immunotherapies, demonstrating its ability to deliver sustained benefits and durable remissions in real-world settings.

Oncopeptides Issues Warrants to Meet EIB Loan Obligations
Oct 13, 2025

Oncopeptides AB has issued warrants to fulfill its obligations under a loan agreement with the European Investment Bank (EIB). This move involves a total of 2,788,416 warrants entitling the EIB to 3,383,326 ordinary shares, which will increase the company’s share capital by approximately SEK 375,925.13. The decision, authorized by the board of directors, allows Oncopeptides to meet its contractual obligations and potentially strengthens its financial position, impacting its operations and stakeholder interests.

Oncopeptides AB Announces Share and Vote Changes Post Rights Issue
Sep 30, 2025

Oncopeptides AB has announced a change in the number of shares and votes following a rights issue, which concluded on September 15, 2025. The total number of shares now stands at 272,706,357, with a share capital increase of SEK 5,216,392.878513. This change reflects the company’s ongoing financial adjustments to support its operations and strategic goals in the biotech industry.

Oncopeptides AB’s Rights Issue Oversubscribed, Raising SEK 150 Million
Sep 17, 2025

Oncopeptides AB announced the successful completion of its rights issue, which was oversubscribed by approximately 157 percent, raising around SEK 150 million. This financial boost is expected to enhance the company’s operational capabilities and strengthen its market position, with new shares set to begin trading on Nasdaq Stockholm by late September 2025.

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.Date of analysis: Nov 14, 2025