Vicore Pharma Holding AB (SE:VICO)
:VICO
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Vicore Pharma Holding AB
(VICO)
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Rating:53Neutral
Price Target:
kr12.00
▲(8.30% Upside)
Action:Reiterated
Date:05/23/26
The score is held back primarily by weak financial performance (large losses, volatile revenue, and ongoing cash burn), partially offset by a strong, low-debt balance sheet. Technical indicators are moderately positive with price above key moving averages and a positive MACD, while valuation remains constrained by loss-making earnings and no dividend support.
Positive Factors
Low Leverage / Strong Balance Sheet
Near-zero reported debt and materially expanded equity significantly improve financial flexibility and reduce refinancing and interest-rate risk. This durable balance-sheet strength supports sustained investment in clinical programs and acts as a buffer to extend operational runway absent immediate commercial cash flow.
Negative Factors
Persistent Cash Burn
Operating cash flow has been negative in each year and deteriorated materially in 2025, representing a persistent structural cash burn. That ongoing outflow forces reliance on external financing, raises dilution risk over time and constrains the company’s ability to fund multiple clinical programs or respond to trial setbacks without new capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Strong Balance Sheet
Near-zero reported debt and materially expanded equity significantly improve financial flexibility and reduce refinancing and interest-rate risk. This durable balance-sheet strength supports sustained investment in clinical programs and acts as a buffer to extend operational runway absent immediate commercial cash flow.
Read all positive factors
Vicore Pharma Holding AB (VICO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr3.29B
Dividend YieldN/A
Average Volume (3M)520.11K
Price to Earnings (P/E)―
Beta (1Y)0.62
Revenue Growth-41.17%
EPS Growth-0.30%
CountrySE
Employees33
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.42
Shares Outstanding281,525,600
10 Day Avg. Volume692,423
30 Day Avg. Volume520,111
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)2.47
Price to Sales (P/S)710.16
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr38.00Price Target Upside242.96% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-1.81
Revenue Forecast (FY)kr8.09M
Vicore Pharma Holding AB Business Overview & Revenue Model
Company Description
Vicore Pharma Holding AB (publ) engages in the research and development of pharmaceutical products for the treatments for rare lung diseases. The company is developing VP01, a small molecule compound for oral administration that is in phase II cli...
How the Company Makes Money
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Vicore Pharma Holding AB Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.77M | 3.82M | 109.35M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 2.77M | 3.82M | 109.35M | -3.42M | -3.61M | -3.60M |
| EBITDA | -382.81M | -454.44M | -166.64M | -317.47M | -286.20M | -289.82M |
| Net Income | -361.08M | -477.47M | -168.63M | -310.94M | -288.42M | -296.48M |
Balance Sheet | ||||||
| Total Assets | 1.08B | 1.22B | 1.20B | 497.84M | 338.01M | 451.17M |
| Cash, Cash Equivalents and Short-Term Investments | 1.06B | 1.17B | 1.16B | 482.66M | 261.74M | 371.20M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 65.00K | 320.00K |
| Total Liabilities | 86.35M | 124.16M | 73.78M | 42.45M | 48.92M | 67.85M |
| Stockholders Equity | 990.91M | 1.10B | 1.13B | 455.39M | 289.08M | 383.32M |
Cash Flow | ||||||
| Free Cash Flow | -106.45M | 0.00 | -164.95M | -448.62M | -302.92M | -265.17M |
| Operating Cash Flow | -305.57M | -374.44M | -164.95M | -249.58M | -299.92M | -265.17M |
| Investing Cash Flow | -576.31M | -601.81M | 149.04M | -144.46M | 74.00M | -7.00M |
| Financing Cash Flow | 430.54M | 430.54M | 834.06M | 470.86M | 187.04M | 318.18M |
Vicore Pharma Holding AB Technical Analysis
Positive
11.08
Price Trends
10.49
Positive
10.72
Positive
10.85
Positive
Market Momentum
0.42
Negative
57.72
Neutral
63.57
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:VICO, the sentiment is Positive. The current price of 11.08 is below the 20-day moving average (MA) of 11.12, above the 50-day MA of 10.49, and above the 200-day MA of 10.85, indicating a bullish trend. The MACD of 0.42 indicates Negative momentum. The RSI at 57.72 is Neutral, neither overbought nor oversold. The STOCH value of 63.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:VICO.
Vicore Pharma Holding AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | kr541.97M | 3.37 | 81.19% | ― | ― | ― | |
53 Neutral | kr3.29B | -6.94 | -49.96% | ― | -41.17% | -0.30% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | kr3.43B | -4.98 | ― | ― | 4.84% | 17.25% | |
49 Neutral | kr2.18B | -6.50 | -47.20% | ― | 258.30% | 28.33% | |
46 Neutral | kr929.01M | -8.35 | -58.41% | ― | ― | -12.27% | |
42 Neutral | kr1.19B | -6.34 | -35.03% | ― | ― | 46.92% |
* Healthcare Sector Average
SE:VICO
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Vicore Pharma Holding AB Corporate Events
Vicore Pharma Seeks US Dual Listing as Lead IPF Drug Nears Key Readout
May 22, 2026
Vicore Pharma is a Swedish clinical-stage biopharmaceutical company developing angiotensin II type 2 receptor agonists for respiratory and fibrotic diseases, led by buloxibutid for idiopathic pulmonary fibrosis, which has secured Orphan Drug and F...
Vicore Pharma Adds Veteran Pharma Executive Peter Guenter to Board Ahead of Key IPF Milestone
May 7, 2026
Vicore Pharma has appointed veteran pharmaceutical executive Peter Guenter to its Board of Directors as it advances its lead drug candidate buloxibutid toward a key late-stage data readout. Guenter, a former CEO of Merck Healthcare KGaA and Almira...
Vicore Pharma AGM Backs Expanded Capital Authority and New RSU Plan for Board
May 6, 2026
Vicore Pharma’s 2026 Annual General Meeting approved the 2025 financial statements, decided to retain earnings without a dividend, discharged the board and CEO from liability, and re-elected most board members while adding Peter Guenter as a...
Vicore Pharma Publishes Q1 2026 Interim Report
May 6, 2026
Vicore Pharma Holding AB has released its interim report for the first quarter of 2026, covering the period from January 1 to March 31. The report outlines CEO commentary, pipeline status, financial information, sustainability efforts, and key per...
Vicore Pharma to Spotlight Buloxibutid Data at 2026 ATS Meeting
Apr 29, 2026
Vicore Pharma will showcase a series of new clinical and preclinical data on its ATRAG platform at the 2026 American Thoracic Society International Conference in Orlando, highlighting the breadth of its research in idiopathic pulmonary fibrosis an...
Vicore Pharma Hits Early Enrollment Milestone in Key IPF Trial
Apr 22, 2026
Vicore Pharma has completed enrollment of more than 360 patients in its global Phase 2b ASPIRE trial of buloxibutid in idiopathic pulmonary fibrosis, hitting full recruitment earlier than expected across over 100 sites in 14 countries. The 52-week...
Vicore Pharma Calls 2026 AGM With Capital and Incentive Plans on Agenda
Apr 1, 2026
Vicore Pharma Holding AB has called its Annual General Meeting for 6 May 2026 in Stockholm, giving shareholders the option to attend in person or vote in advance by post, subject to standard Euroclear Sweden registration and proxy requirements. Th...
Vicore Pharma Publishes Official 2025 Annual Report in ESEF Format
Mar 26, 2026
Vicore Pharma Holding AB has published its 2025 annual report, which compiles a broad overview of the company’s operations, scientific progress, sustainability work, intellectual property, and shareholder information. The document also inclu...
Vicore Pharma Targets Investor Visibility With Back-to-Back Healthcare Conferences
Mar 9, 2026
Vicore Pharma Holding AB will showcase its clinical-stage portfolio of angiotensin II type 2 receptor agonists at two upcoming healthcare investor conferences in Stockholm and New York, underscoring growing capital-market interest in novel treatme...
Vicore Pharma Strengthens Executive Ranks as Buloxibutid Nears Key Milestones
Mar 5, 2026
Vicore Pharma, a clinical-stage biopharma group specializing in angiotensin II type 2 receptor agonists for respiratory and fibrotic diseases, is advancing its lead IPF candidate buloxibutid through a global Phase 2b ASPIRE study and preparing its...
Vicore Pharma Publishes Comprehensive Year-End 2025 Report
Feb 27, 2026
Vicore Pharma Holding AB has released its year-end report for January to December 2025, outlining its financial performance, development pipeline, and sustainability efforts. The report structure highlights CEO commentary, detailed financial infor...
Vicore Pharma Ramps Up Investor Outreach With Series of March Conferences
Feb 26, 2026
Vicore Pharma announced that its senior leadership will engage investors at several upcoming healthcare conferences in the U.S. and Sweden in early March, including events hosted by TD Cowen, Leerink Partners, Jefferies, and Sweden Life Science Da...
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.