Germany's Formycon Q1 revenue more than doubles, EBITDA loss narrows

Formycon AG

28/05/2026 05:40

Overview
Germany biosimilars developer's Q1 revenue more than doubled yr/yr on milestone payments, commercialization gains
EBITDA loss narrowed sharply from prior year, aided by lower R&D and structural costs
Company confirmed 2026 guidance for revenue and EBITDA

Outlook
Formycon expects 2026 revenue between €60 mln and €70 mln
Company sees 2026 consolidated EBITDA between €0 mln and €10 mln

Result Drivers
MILESTONE PAYMENTS - Co said milestone payments for FYB202 and FYB206 were among the primary drivers of Q1 revenue growth
COMMERCIALIZATION GAINS - Revenue gains from commercialization of biosimilars, including the EU launch of FYB203 and U.S. market progress for FYB202, contributed to growth
COST MANAGEMENT - Lower R&D and structural costs contributed to improved earnings performance

Company press release: ID:nEQ31mqjPa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
EUR 13.10 mln
EUR 18 mln (1 Analyst)
Q1 EBITDA
 
-EUR 1.70 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 82.7% above its May 27 closing price of €20.25

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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.)