PILA PHARMA AB (PILA) AI Stock Analysis

• Market Cap: kr47.72M
• Dividend Yield: N/A
• Average Volume (3M): 235.52K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.59
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: SE
• Employees: 1
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.14
• Shares Outstanding: 42,084,415
• 10 Day Avg. Volume: 194,482
• 30 Day Avg. Volume: 235,519
• PEG Ratio: 1.33
• Price to Book (P/B): 18.15
• Price to Sales (P/S): 123.19
• P/FCF Ratio: -12.20
• 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: 45 Neutral
• Price Target: kr1.00 ▼(-54.55% Downside)

The score is held down primarily by weak financial performance (persistent losses, declining revenue, and worsening cash burn) and bearish technicals (price below key moving averages with negative MACD). Limited offset comes from low leverage/no debt and a valuation that cannot be cleanly assessed due to negative earnings.

Positive Factors

Low financial leverage (no debt)

Zero reported debt reduces bankruptcy and interest-rate risk for a development-stage biotech. Over 2–6 months this preserves financial optionality and lowers fixed-cost burdens, giving management flexibility to time financing or advance clinical programs without debt servicing constraints.

Focused drug program in large markets

A concentrated R&D focus on TRPV1 antagonist XEN-D0501 targets structurally large, chronic markets (type 2 diabetes, obesity). This strategic clarity concentrates resources on a single value-driving asset, aligning long-term upside to favourable secular demand in metabolic disease if clinical progress continues.

Reduced peak losses vs 2022

Earnings show smaller losses since the 2022 peak, indicating some improvement in cost control or program pacing. Over several months this suggests management can moderate burn or reallocate spend, which can extend runway and reduce near-term financing frequency if the trend persists.

Negative Factors

Accelerating cash burn

Worsening free cash flow reflects accelerating cash consumption, which materially increases reliance on external financing for operations and trials. Over a 2–6 month horizon this heightens dilution risk and constrains the company’s ability to independently fund development milestones or expand programs.

Declining, volatile revenue

Small and falling revenue undermines capacity to fund R&D or transition to commercialization. Structurally, lack of consistent top-line performance reduces operating leverage and increases dependency on capital markets or partners to finance development, a persistent weakness for sustainability.

Contracted equity cushion

A sharp drop in equity reduces the balance-sheet buffer against future losses and shocks, limiting financial flexibility. This structurally raises the probability of dilutive capital raises and weakens negotiating position with partners or lenders during the next financing cycle.

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

PILA PHARMA AB generates revenue primarily through the development and commercialization of its pharmaceutical products targeting metabolic disorders. The company's revenue model includes out-licensing its drug candidates to larger pharmaceutical companies, which involves upfront payments, milestone payments, and royalties on future sales. Additionally, PILA may engage in collaborative research agreements and partnerships to fund its R&D activities, where partners contribute resources and funding in exchange for certain rights to the developed products. The success of PILA's revenue streams is heavily dependent on the successful progression of its drug candidates through clinical trials and regulatory approval processes.

PILA PHARMA AB Financial Statement Overview

Summary

Financials reflect a development-stage, cash-burning profile: small and declining revenue, persistent operating/net losses, and consistently negative operating and free cash flow (2024 FCF about -7.8M, worse than 2023). The main positive is low financial leverage, including no debt in 2024, but equity has contracted sharply since 2021, increasing financing/dilution risk.

Income Statement

Revenue remains small and volatile, with 2024 revenue down ~30% year over year versus 2023. Profitability is weak: the company reports persistent operating and net losses every year shown, with 2024 net margin deeply negative (about -14.5x revenue) and negative gross profit in 2024. While losses were materially larger in 2022 than 2023–2024, the overall earnings profile still indicates an early-stage, cash-burning model with limited operating leverage so far.

Balance Sheet

Leverage is low, highlighted by zero total debt in 2024 (and several prior years), which reduces financial risk. However, the equity base has contracted sharply versus 2021 (stockholders’ equity fell from ~30.3M in 2021 to ~5.3M in 2024), reflecting cumulative losses and weakening balance-sheet cushion. Returns on equity are consistently negative across all periods, signaling that capital is not yet generating profits.

Cash Flow

Cash generation is a key weakness: operating cash flow and free cash flow are negative every year shown. 2024 free cash flow was about -7.8M (worse than 2023’s ~-4.9M), implying an accelerating cash burn recently despite the reported positive free-cash-flow growth figure. Cash flow also does not yet show clear self-funding capacity, increasing reliance on external financing over time.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	957.89K	775.00K	1.46M	1.88M	719.23K	0.00
Gross Profit	179.89K	-8.12M	1.46M	1.88M	680.94K	-492.39K
EBITDA	-7.04M	-10.11M	-8.81M	-26.76M	-17.16M	-3.36M
Net Income	-11.26M	-11.24M	-9.93M	-26.78M	-17.21M	-10.58M
Balance Sheet
Total Assets	3.48M	6.22M	8.46M	10.89M	31.81M	5.37M
Cash, Cash Equivalents and Short-Term Investments	1.08M	4.89M	5.95M	7.24M	28.21M	1.91M
Total Debt	0.00	0.00	773.08K	0.00	0.00	500.00K
Total Liabilities	2.32M	963.00K	1.79M	1.36M	1.51M	1.95M
Stockholders Equity	1.16M	5.26M	6.66M	9.53M	30.30M	3.42M
Cash Flow
Free Cash Flow	-8.22M	-7.82M	-4.85M	-9.09M	-9.36M	-2.00M
Operating Cash Flow	-8.22M	-7.82M	-4.85M	-9.09M	-9.36M	-2.00M
Investing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00
Financing Cash Flow	6.76M	6.76M	3.56M	-11.88M	35.67M	-158.07K

PILA PHARMA AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.20
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

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 1.70, above the 50-day MA of 2.01, and below the 200-day MA of 2.46, indicating a bearish trend. The MACD of -0.26 indicates Positive momentum. The RSI at 29.62 is Positive, neither overbought nor oversold. The STOCH value of 9.97 is Positive, 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
NXTCL	52 Neutral	kr188.70M	-3.84	-52.45%	―	2.56%	52.76%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
PILA	45 Neutral	kr47.72M	-2.94	-601.02%	―	―	―
EXPRS2	45 Neutral	kr58.60M	-0.91	-88.65%	―	8.46%	11.73%
BIOSGN	42 Neutral	kr105.67M	-3.13	-201.21%	―	―	49.09%
LPGO	41 Neutral	kr7.51M	-0.09	-213.85%	―	―	―
SPAGO	40 Underperform	kr78.07M	-2.03	-106.95%	―	-48.15%	51.95%