Prostatype Genomics AB (PROGEN) AI Stock Analysis

• Market Cap: kr61.56M
• Dividend Yield: N/A
• Average Volume (3M): 300.11K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.51
• Revenue Growth: -67.76%
• EPS Growth: 95.76%
• Country: SE
• Employees: 6
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Diagnostics & Research
• EPS (TTM): -0.40
• Shares Outstanding: 59,189,320
• 10 Day Avg. Volume: 460,844
• 30 Day Avg. Volume: 300,114
• PEG Ratio: <0.01
• Price to Book (P/B): 0.38
• Price to Sales (P/S): 17.06
• P/FCF Ratio: -0.42
• 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): -0.2
• Revenue Forecast (FY): kr1.23M

• Rating: 42 Neutral
• Price Target: kr0.91 ▲(21.33% Upside)
• Action: Reiterated Date: 03/05/26
• Date: Action: Reiterated 03/05/26

The score is primarily held back by weak financial performance—small/declining revenue, persistent deep losses, and ongoing cash burn—with low leverage providing only partial offset. Technical indicators add modest downside pressure due to bearish momentum despite oversold readings. Valuation cannot be supported from earnings (negative P/E) and there is no dividend yield data.

Positive Factors

Low leverage / negligible debt

A near-zero debt position meaningfully reduces financial risk and interest obligations, giving management flexibility to fund R&D, regulatory work, or commercialization via equity/funding rather than debt. Over a 2–6 month horizon this provides a stable balance-sheet buffer while they pursue revenue growth or partnerships.

Focused proprietary diagnostic offering

A clearly defined, clinically-oriented prognostic test in prostate cancer is a durable competitive asset: it targets a specific clinical decision point, supports adoption by labs and clinicians, and enables per-test revenue. Structural demand for precision oncology diagnostics supports medium-term commercialization opportunities.

Reduced cash burn in 2025 vs 2024

Material reduction in cash burn year-over-year indicates management is improving operational efficiency or scaling revenue contribution. If sustained, this trend reduces near-term financing needs and extends runway, increasing the chance that commercial initiatives can progress without immediate dilutive funding.

Negative Factors

Persistent negative cash flow

Consistent negative operating and free cash flow means the company depends on external financing to continue operations. Over several months this constrains capital allocation, limits ability to scale labs or sales, and raises dilution or solvency risk if funding windows close or costs re-escalate.

Deep losses & highly negative margins

Large recurring losses and very negative margins show the cost base far outpaces current commercial revenue. This undermines return prospects and requires either strong revenue traction or cost restructuring to reach sustainability. Persisting at current margins will continue to erode equity.

Very small scale / limited team

A tiny employee base limits capacity for commercialization, regulatory, and clinical support activities essential in diagnostics. Execution risk is higher and the company must rely on partners or rapid hiring to scale; this structural constraint can slow adoption and revenue growth over the medium term.

Prostatype Genomics AB Business Overview & Revenue Model

Company Description

Prostatype Genomics AB (PROGEN) is a biotechnology company specializing in the development of genomic tests aimed at improving the diagnosis and treatment of prostate cancer. The company operates in the healthcare sector, focusing on precision medicine by providing innovative genomic solutions that help clinicians make informed decisions regarding patient management and personalized treatment plans. PROGEN's core product is its proprietary genomic test, which analyzes tumor characteristics to predict disease progression and guide therapeutic choices for prostate cancer patients.

How the Company Makes Money

PROGEN’s revenue model is based on commercialization of its prostate-cancer prognostic test and related services. In practice, the company makes money primarily by generating test revenue (i.e., fees paid when the Prostatype test is ordered and performed for a patient), either through direct sales to healthcare providers/labs or via partner/distributor channels depending on market. Additional revenue can come from collaborations and commercial partnerships that support market access, distribution, or test processing (e.g., agreements with laboratories or regional commercialization partners), and from research-related income such as grants or project funding when applicable. Specific breakdowns of revenue streams, pricing, and named counterparties are not available in the provided prompt; therefore, details such as exact revenue shares by geography, per-test pricing, and the identities/terms of significant partnerships are null.

Prostatype Genomics AB Financial Statement Overview

Summary

Overall fundamentals are weak: revenue is very small and volatile with a ~17% decline in 2025 vs 2024, profitability is deeply negative with highly negative margins, and operating/free cash flow are consistently negative (ongoing cash burn). Low leverage (near-zero debt) is a stabilizer, but recurring losses continue to pressure equity.

Income Statement

Revenue remains very small and volatile, with 2025 declining ~17% versus 2024 after a stronger 2022 and weaker 2023–2024 period. Profitability is consistently weak: EBIT and net income are deeply negative every year shown, and margins are highly negative (2025 net margin roughly -75%), indicating the cost base is far ahead of current commercialization. A modest positive in 2024 gross profit is outweighed by heavy operating losses, and 2025 shows a sharp deterioration at the gross level.

Balance Sheet

Leverage is currently low (2025 total debt at 0 and negligible debt in 2024), which meaningfully reduces financial risk. However, equity has trended down versus earlier periods (e.g., below 2021 levels), consistent with recurring losses, and returns on equity are sharply negative across the period. Asset levels are relatively stable, but the balance sheet ultimately depends on improving operating performance or continued funding given persistent losses.

Cash Flow

Cash generation is a clear weakness: operating cash flow and free cash flow are negative in every year shown, indicating ongoing cash burn. There is improvement in 2025 versus 2024 (burn reduced materially), but free cash flow still fell versus the prior year on the provided growth figure, and cash flows remain reliant on external financing over time. Free cash flow tracks net losses closely (free cash flow roughly similar magnitude to net income), suggesting limited non-cash cushioning.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	716.00K	594.00K	199.00K	1.36M	683.00K	10.00K
Gross Profit	-11.24M	-37.62M	1.92M	3.73M	683.00K	2.51M
EBITDA	-41.42M	-36.89M	-37.40M	-38.02M	-26.79M	-15.46M
Net Income	-45.31M	-44.50M	-41.05M	-41.44M	-29.09M	-15.63M
Balance Sheet
Total Assets	43.84M	50.86M	41.97M	49.22M	30.95M	40.20M
Cash, Cash Equivalents and Short-Term Investments	12.93M	9.07M	9.42M	2.68M	11.49M	20.33M
Total Debt	0.00	0.00	67.00K	11.67M	867.00K	1.27M
Total Liabilities	7.36M	24.33M	8.50M	24.55M	4.80M	4.30M
Stockholders Equity	36.48M	26.53M	33.47M	24.67M	26.15M	35.91M
Cash Flow
Free Cash Flow	-39.09M	-24.06M	-52.57M	-37.70M	-27.69M	-18.58M
Operating Cash Flow	-38.58M	-23.80M	-44.71M	-29.14M	-27.69M	-16.08M
Investing Cash Flow	-3.15M	-13.36M	-8.36M	-8.57M	0.00	-2.50M
Financing Cash Flow	52.87M	36.83M	59.75M	28.91M	18.85M	23.05M

Prostatype Genomics AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.75
• 50DMA: Negative
• 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:PROGEN, the sentiment is Positive. The current price of 0.75 is below the 20-day moving average (MA) of 1.03, below the 50-day MA of 1.27, and below the 200-day MA of 0.88, indicating a neutral trend. The MACD of -0.06 indicates Negative momentum. The RSI at 46.93 is Neutral, neither overbought nor oversold. The STOCH value of 54.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:PROGEN.

Prostatype Genomics 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%
STABL	45 Neutral	kr10.85M	-1.92	-84.80%	―	―	64.02%
BIOVIC.B	45 Neutral	kr97.32M	-1.81	-72.82%	―	40.91%	57.92%
LARK	43 Neutral	kr41.38M	-1.97	―	8.47%	-94.12%	-25.83%
PROGEN	42 Neutral	kr61.56M	-0.23	-181.36%	―	-67.76%	95.76%