Formycon H1 revenue rises sharply on milestone payments, EBITDA loss narrows

Formycon AG

12/08/2026 05:39

Overview
Germany biosimilars developer's H1 2026 revenue rose sharply yr/yr to EUR 25.8 mln
EBITDA loss narrowed in H1 2026, reflecting higher revenue and lower R&D expenses
Company confirmed 2026 guidance and completed clinical development for FYB206 biosimilar

Outlook
Formycon confirms 2026 revenue guidance of EUR 60 mln to EUR 70 mln
Company expects 2026 Group EBITDA of EUR 0 mln to EUR 10 mln
Milestone payments for FYB206 and royalty income from FYB202 seen as key revenue drivers in H2

Result Drivers
FYB206 MILESTONE PAYMENTS - Significant H1 revenue increase driven by milestone and upfront payments from commercialization and development partnerships for FYB206
FYB202 ROYALTIES AND MILESTONES - Higher H1 revenue from FYB202 due to increased royalty income and milestone payments, despite challenging market conditions
LOWER R&D EXPENSES - Earnings improved due to lower research and development expenses from project progress and capitalization of development costs

Company press release: ID:nEQ3pQqCya

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
EUR 25.80 mln
 
H1 EBITDA
 
-EUR 3.40 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "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 Formycon AG is €37.00, about 93.1% above its August 11 closing price of €19.16

Reuters Recommended Reads
Aug 11 - Germany's Dermapharm prelim H1 revenue rises, maintains outlook
Aug 12 - Canada's COSCIENS Biopharma Q2 net loss narrows on higher sales
Aug 11 - CK Life Sciences H1 loss narrows on lower R&D costs

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(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.)