PILA PHARMA AB (PILA) AI Stock Analysis

• Market Cap: kr53.45M
• Dividend Yield: N/A
• Average Volume (3M): 235.52K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.57
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: SE
• Employees: 1
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.37
• Shares Outstanding: 45,682,120
• 10 Day Avg. Volume: 194,482
• 30 Day Avg. Volume: 235,519
• PEG Ratio: -0.37
• Price to Book (P/B): 4.82
• Price to Sales (P/S): 63.25
• P/FCF Ratio: -7.76
• 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: 44 Neutral
• Price Target: kr1.00 ▼(-54.55% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is held down primarily by weak financial performance (large ongoing losses and sustained cash burn) and bearish technicals (below all key moving averages with negative momentum). A clean, debt-free balance sheet and improved equity base provide some stability, while valuation remains hard to support due to negative earnings and no dividend data.

Positive Factors

Clean balance sheet / zero debt

Zero reported debt and a material equity increase improve solvency and reduce near-term default risk. This durable capital-structure strength gives management flexibility to fund clinical programs or raise capital from a stronger balance-sheet position, lowering financing risk.

Revenue rebound in 2025

A rebound in revenue demonstrates early commercial or milestone traction after declines, signaling that underlying operations can generate growing top-line receipts. Over 2-6 months, continued growth off this base would support scaling and validate aspects of the business model.

Focused therapeutic pipeline

A clear strategic focus on a single mechanism (TRPV1 antagonist XEN-D0501) concentrates R&D resources and clarifies milestone pathways. Focused pipelines can yield higher probability of meaningful progress per dollar invested and make partnership or licensing discussions more straightforward.

Negative Factors

Persistent negative free cash flow

Sustained negative operating and free cash flow indicates ongoing cash burn and dependence on external financing. Over months this constrains investment in trials, risks dilution on new raises, and forces management to prioritize programs, limiting long-term operational flexibility.

Widening net losses

Growing net losses erode equity and signal that operating costs outpace revenue growth. Persistently deep losses reduce runway, increase funding needs, and can delay commercialization or expansion plans, creating structural pressure on profitability and strategic options.

Small, volatile revenue and limited scale

A tiny, volatile revenue base and limited operating scale (1 employee reported) mean weak operating leverage and fragile commercial capability. The company remains highly dependent on R&D outcomes and external partners, increasing execution risk over the medium term.

PILA PHARMA AB Business Overview & Revenue Model

Company Description

PILA PHARMA AB (publ) operates as a clinical stage pharmaceutical company in Sweden. It is developing XEN-D0501, a TRPV1 antagonist that has completed two phase 2a clinical trials for type 2 diabetes. PILA PHARMA AB (publ) was incorporated in 2014 and is based in Malmö, Sweden.

How the Company Makes Money

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PILA PHARMA AB Financial Statement Overview

Summary

Overall financial profile is weak: small and volatile revenue, deeply negative profitability (net loss widened to -16.9m in 2025), and persistent negative operating/free cash flow (2025 FCF -9.2m). The main offset is a low-risk capital structure with zero debt and a stronger equity position in 2025, supporting near-term solvency despite ongoing losses.

Income Statement

Revenue is small and volatile, with a rebound in 2025 (1127k; +17.7% YoY) after declines in 2023–2024. Profitability is weak: 2025 shows deeply negative gross profit and very large operating losses, with net loss widening to -16.9m versus -11.2m in 2024. Margins are consistently negative across most years, indicating the business is still firmly in a cash-consuming, loss-making phase with limited operating leverage so far.

Balance Sheet

The balance sheet is relatively clean on leverage, with zero total debt in 2024–2025 and a 0.0 debt-to-equity ratio, reducing financial risk. Equity increased materially to 14.8m in 2025 from 5.3m in 2024, supporting solvency. The key weakness is persistent heavy losses (negative returns on equity in prior years), which can pressure the equity base over time if losses continue.

Cash Flow

Cash generation is weak, with operating cash flow and free cash flow negative every year shown (2025: -9.2m; 2024: -7.8m; 2023: -4.9m), indicating ongoing cash burn. While 2025 free cash flow improved versus 2024 (+11.7%), it remains deeply negative, and cash outflows have not stabilized at a sustainably lower level. The overall picture suggests continued reliance on external funding until losses narrow materially.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	957.89K	1.13M	775.00K	1.46M	1.88M	719.23K
Gross Profit	179.89K	-6.82M	-8.12M	1.46M	1.88M	680.94K
EBITDA	-7.04M	-15.57M	-10.11M	-8.81M	-26.76M	-17.16M
Net Income	-11.26M	-16.86M	-11.24M	-9.93M	-26.78M	-17.21M
Balance Sheet
Total Assets	3.48M	16.22M	6.22M	8.46M	10.89M	31.81M
Cash, Cash Equivalents and Short-Term Investments	1.08M	15.90M	4.89M	5.95M	7.24M	28.21M
Total Debt	0.00	0.00	0.00	773.08K	0.00	0.00
Total Liabilities	2.32M	1.43M	963.00K	1.79M	1.36M	1.51M
Stockholders Equity	1.16M	14.78M	5.26M	6.66M	9.53M	30.30M
Cash Flow
Free Cash Flow	-8.22M	-9.19M	-7.82M	-4.85M	-9.09M	-9.36M
Operating Cash Flow	-8.22M	-9.19M	-7.82M	-4.85M	-9.09M	-9.36M
Investing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00
Financing Cash Flow	6.76M	20.19M	6.76M	3.56M	-11.88M	35.67M

PILA PHARMA AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.20
• 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:PILA, the sentiment is Negative. The current price of 2.2 is above the 20-day moving average (MA) of 1.21, above the 50-day MA of 1.51, and below the 200-day MA of 2.28, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 42.15 is Neutral, neither overbought nor oversold. The STOCH value of 21.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:PILA.

PILA PHARMA 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%
SPAGO	47 Neutral	kr77.07M	-1.64	-106.95%	―	-48.15%	51.95%
PILA	44 Neutral	kr53.45M	―	-601.02%	―	―	―
NXTCL	44 Neutral	kr142.58M	-1.48	-52.45%	―	2.56%	52.76%
EXPRS2	43 Neutral	kr18.71M	-1.19	-88.65%	―	8.46%	11.73%
BIOSGN	42 Neutral	kr90.17M	-2.27	-120.13%	―	―	49.09%
LPGO	41 Neutral	kr3.88M	-3.06	-213.85%	―	―	―