Orexo AB (ORX) AI Stock Analysis

• Market Cap: $1.35B
• Dividend Yield: N/A
• Average Volume (3M): 80.12K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.56
• Revenue Growth: -8.81%
• EPS Growth: -120.57%
• Country: SE
• Employees: 110
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -1.20
• Shares Outstanding: 34,710,640
• 10 Day Avg. Volume: 134,800
• 30 Day Avg. Volume: 80,120
• PEG Ratio: -0.05
• Price to Book (P/B): -4.78
• Price to Sales (P/S): 1.02
• P/FCF Ratio: -16.21
• Enterprise Value/Market Cap: 0.82
• Enterprise Value/Revenue: 1.97
• Enterprise Value/Gross Profit: 2.25
• Enterprise Value/Ebitda: 39.40
• 1Y Price Target: $23.26
• Price Target Upside: -43.26% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 49 Neutral
• Price Target: kr23.00 ▼(-43.90% Downside)

Orexo AB's overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues and high leverage. While technical analysis shows some positive momentum, the negative P/E ratio and lack of dividend yield weigh heavily on its valuation.

Orexo AB Business Overview & Revenue Model

Company Description

Orexo AB (ORX) is a pharmaceutical company based in Sweden, specializing in the development and commercialization of innovative treatments for opioid dependence and other mental health disorders. The company operates primarily in the pharmaceutical sector, focusing on providing effective solutions for patients with unmet medical needs. Orexo's core products include Zubsolv, a medication for the treatment of opioid dependence, and other proprietary products aimed at improving patient adherence and outcomes in mental health.

How the Company Makes Money

Orexo AB generates revenue primarily through the sale of its pharmaceutical products, particularly Zubsolv, which is marketed in the United States. The company also engages in partnerships and collaborations with other pharmaceutical firms, which can include licensing agreements and co-development initiatives that provide additional revenue streams. Furthermore, Orexo may receive milestone payments and royalties from these partnerships based on sales performance and product development achievements. The company's focus on innovative formulations and its ability to address specific patient needs contribute to its competitive advantage and financial performance.

Orexo AB Financial Statement Overview

Summary

Orexo AB faces significant financial challenges with declining revenues, persistent losses, high leverage, and negative equity. Despite slight improvements in cash flow, the company's financial health remains strained, indicating a need for strategic interventions.

Income Statement

Orexo AB's income statement shows a concerning trend with declining revenues and consistent net losses over recent years. The gross profit margin remains strong at 86.7% TTM, but the company struggles with significant negative EBIT and net profit margins, indicating operational inefficiencies. Despite a slight revenue growth in TTM, the overall trajectory suggests financial instability.

Balance Sheet

The balance sheet of Orexo AB reveals a negative stockholders' equity, indicative of financial distress. The debt-to-equity ratio cannot be calculated due to negative equity, underscoring high leverage and potential solvency issues. An equity ratio of -30.5% TTM highlights a precarious capital structure with total liabilities outweighing total assets.

Cash Flow

Orexo AB has shown slight improvement in free cash flow recently, moving from negative to positive territory TTM. However, the operating cash flow remains weak relative to net income, reflecting difficulties in converting sales to cash. Despite the improvement in free cash flow, the overall cash flow position suggests liquidity challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	561.20M	590.00M	638.80M	624.30M	565.00M	663.60M
Gross Profit	489.70M	517.90M	549.90M	521.70M	486.10M	598.00M
EBITDA	28.00M	58.60M	-32.30M	-73.90M	-141.30M	16.80M
Net Income	-213.80M	-203.00M	-128.30M	-177.60M	-223.50M	-84.40M
Balance Sheet
Total Assets	533.40M	594.80M	786.60M	1.11B	1.27B	1.23B
Cash, Cash Equivalents and Short-Term Investments	121.30M	123.30M	171.00M	351.80M	504.10M	505.30M
Total Debt	495.60M	476.00M	473.80M	539.60M	550.50M	291.00M
Total Liabilities	730.40M	721.10M	727.70M	915.10M	924.10M	674.40M
Stockholders Equity	-197.00M	-126.30M	58.90M	193.90M	349.60M	558.50M
Cash Flow
Free Cash Flow	24.20M	-37.20M	-113.90M	-180.50M	-281.80M	-172.90M
Operating Cash Flow	25.00M	-32.60M	-95.00M	-156.60M	-229.00M	16.80M
Investing Cash Flow	-20.70M	-5.30M	200.80M	-234.70M	-52.90M	-189.10M
Financing Cash Flow	-13.30M	-15.50M	-70.10M	-21.40M	250.60M	-111.30M

Orexo AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 41.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ORX, the sentiment is Positive. The current price of 41 is above the 20-day moving average (MA) of 31.75, above the 50-day MA of 25.37, and above the 200-day MA of 19.25, indicating a bullish trend. The MACD of 4.18 indicates Negative momentum. The RSI at 77.88 is Negative, neither overbought nor oversold. The STOCH value of 96.62 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ORX.

Orexo 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%
ORX	49 Neutral	$1.35B	―	―	―	-8.81%	-120.57%
ALZCUR	47 Neutral	€301.08M	―	-161.07%	―	―	22.73%
NANEXA	44 Neutral	€326.37M	―	-34.87%	―	-38.56%	69.37%
KLAR	41 Neutral	€129.88M	―	-3899.10%	―	1523.75%	20.82%
ENZY	41 Neutral	kr526.74M	―	―	―	11.87%	26.50%

Orexo AB Corporate Events

Orexo AB Reports Q2 2025 Financial Results Amid Challenges

Orexo AB reported a challenging second quarter of 2025, with total net revenues of SEK 118.2 million, impacted by currency headwinds and a non-recurring rebate payment. The company experienced a negative EBITDA of SEK -10.1 million and net earnings of SEK -39.8 million. Despite these financial challenges, Orexo announced positive in-vivo data for its intranasal vaccine developed with Abera Bioscience and presented clinical data for its OX640 intranasal rescue medication. The election of Friedrich von Bohlen as the new Chairman of the Board marks a significant leadership change.

Orexo AB Announces Changes in Share and Vote Structure

Orexo AB announced a change in the number of shares and votes due to the issuance and repurchase of class C shares. The total number of shares increased to 37,156,639, with a corresponding increase in votes to 34,955,239. This adjustment could impact the company’s shareholder structure and voting dynamics, potentially influencing future corporate decisions.

Orexo AB Issues and Repurchases Class C Shares for Incentive Programs

Orexo AB has announced the issuance and immediate repurchase of 2,446,000 class C shares to support its long-term incentive programs from 2023 to 2025. These shares, initially subscribed by Danske Bank, will be converted into ordinary shares for distribution to program participants, ensuring the company’s commitment to its incentive schemes.

Orexo to Showcase OX640 Clinical Data at EAACI Congress

Orexo AB announced its participation in the 2025 EAACI Congress, where it will present clinical data for its nasal rescue medication, OX640. This product, based on the AmorphOX® technology, shows promise for rapid and effective treatment of severe allergic reactions, including anaphylaxis. The clinical study demonstrated that OX640 allows for faster absorption of epinephrine under allergic conditions, suggesting a rapid onset of action. The presentation at EAACI, a leading global association for allergy and immunology diseases, underscores Orexo’s commitment to advancing treatment options in this field.