Sweden's BioArctic Q2 revenue falls despite higher Leqembi royalties

BioArctic AB (publ)

26/08/2026 07:11

Overview
Sweden biopharma firm's Q2 revenue fell yr/yr, net loss reported
Royalty income from Leqembi rose 10% yr/yr in Q2
Company signed Eli Lilly research deal worth up to $800 mln, with $30 mln upfront

Outlook
Eisai forecasts Leqembi sales of JPY 143.5 bln for fiscal 2026, up 63% from prior year
BioArctic expects a decision in Japan on Leqembi autoinjector administration in Q3 2026
Company plans to initiate Phase 2b studies for exidavnemab in MSA and Parkinson’s in H1 2027

Result Drivers
LEQEMBI ROYALTY GROWTH - Co attributed 10% yr/yr increase in royalty income to rising global sales of Leqembi
ELI LILLY DEAL - Co said new research agreement with Eli Lilly resulted in $30 mln upfront payment and potential milestone payments
FDA APPROVAL - Co said FDA approval and launch of Leqembi Iqlik autoinjector in US will provide greater patient flexibility and could expand use

Company press release: ID:nWkr4TGcmM

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
SEK 247.50 mln
 
Q2 Net Loss
 
SEK 11.20 mln
 
Q2 Cash flow from operating activities
 
SEK 137.80 mln
 
Q2 Operating profit
 
-SEK 6.50 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for BioArctic AB (publ) is SEK350.00, about 1.4% above its August 25 closing price of SEK345.00
The stock recently traded at 72 times the next 12-month earnings vs. a P/E of 71 three months ago

Reuters Recommended Reads
Aug 25 - China's Clover Biopharma H1 revenue drops sharply, flags going-concern doubt
Aug 25 - Sweden's Isofol Medical reports no Q2 revenue, net loss widens
Aug 25 - Canada's LSL Pharma Q2 revenue surges on acquisition boost, eye-drop launches

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)