NORDIC | BIOTECH & HEALTHCARE Your insights into listed Danish & Nordic biotech & healthcare stocks.
The Kapital Partner Nordic healthcare index declined 0.4%. 8 of the 22 companies reported quarterly results. Acarix delivered softer-than-expected revenues, while Gubra raised its outlook for revenue growth and EBIT margin. However, the stock declined 12% probably due to very high expectations after a +300% increase year-to-date.
7 of the 22 Danish biotech companies had a positive share price development the past week and 9 companies have had a positive share price performance year-to-date. Gubra is the best-performing Danish healthcare stock year-to-date with a 335% return and Monivent AB was the best Nordic healthcare investment last week. 5 Danish healthcare stocks with +100% YTD return.
Danish company news
Acarix AB (publ) publishes Interim Report, April – June 2024 (Link)
No news the past week
No news the past week
Second Quarter Report Q2-2024 (Link)
CS MEDICA Achieves MDR Classification, Setting New Standards in Substance-Based Medical Devices (Link)
CS MEDICA Pioneers CBD-Infused Medical Devices in Jordan with Confirmed Classification (Link)
CS MEDICA Q3 2023/2024 Results: Strong Revenue Growth of 400% Despite Production Delays (Link)
CS MEDICA Q3 2023/2024: Growth Through Strategic Regulatory and Market Adaptations (Link)
Curasight: Interim report Q2 2024 (Link)
No news the past week
No news the past week
ExpreS2ion announces publication of sponsored research reports (Link)
No news the past week
TEPKINLY® (epcoritamab) Receives Second European Commission Approval for the Treatment of Adults with Relapsed/Refractory Follicular Lymphoma (Link)
Kempen lowered their price target from DKK 3,000 to DKK 2,650 and JP Morgan to DKK 2,050
Gubra raises financial outlook for 2024 (Link)
Interim report H1 2024: Strong performance across Gubra (Link)
INITIATOR PHARMA: Q2 2024 REPORT (Link)
No news the past week
No news the past week
No news the past week
Scandion Oncology strengthens partnering outreach (Link)
SynAct Pharma publishes Q2 2024 interim results (Link)
No news the past week
No news the past week
No news the past week
2cureX publishes interim report for the first half year of 2024 (Link)
Share price development – Danish stocks
On average, the Danish biotech and healthcare stocks delivered a negative return of 2.5%. The three best-performing stocks last week (Saniona, IO Biotech & Y-mAbs Therapeutics) did not release any news. Acarix, Cessatech, CS Medica, Curasight, Gubra, Initiator Pharma, SynAct Pharma, 2cureX released Q2 results. Acarix fell 16% after releasing softer revenues than expected. Gubra presented revenues of DKK 55.6 million in Q2 2024 compared to DKK 52 million in Q2 2023, but their EBIT also rose from DKK -3.6 million to DKK -20.1 million. The company raised its 2024 guidance for organic revenue growth and EBIT margin. However, the stock fell 12% last week. The decline probably came due to very high expectations after the stock has had a magnificent run with a return of 335% year-to-date and is thus the best-performing Danish healthcare stock in 2024. Zealand Pharma, Pila Pharma, CS Medica, Y-mAbs Therapeutics have also delivered returns in excess of 100% in 2024.
Overview of share price development the past week, year-to-date, and the last twelve month
Nordic Biotech & Healthcare Developments
In the past week, the all-Nordic index Kapital Partner Nordic Healthcare Index (KPHC) fell 0.4% to 70.74. The index has had a strong performance since the beginning of April and it has now surpassed the KPNGX index. In the past 12 months, the KPHC index has significantly underperformed relative to large caps, while it has outperformed the broader Nordic growth exchanges by approximately 5%.
The index development for the KPHC index the past year
59-93% in weekly return for the Nordic healthcare stocks
Monivent AB (93%) specializes in the development of medical technology products. The products are resold under various brands and are adapted for clinical use in the maternity and neonatal departments. The product portfolio is broad and consists mainly of software and monitor systems, charging stations, and sensor modules. The stock after Monivent signed a letter of intent regarding global distribution with a major industry-leading player.
Lipidor AB (61%) works with research and development in the preclinical and clinical phases. The largest business is established in the development of pharmaceuticals that are further used for the treatment of various skin diseases. Examples of diseases that are treated include psoriasis, various skin infections, and atopic dermatitis. Lipidor rose following news that clinical trial material for psoriasis candidate AKP02G2 has been released according to plan.
Odinwell AB (59%) specializes in the development of medical devices addressed to wound care management. The company is developing a platform for wound care with associated technological aids to analyze and facilitate the process around wound care management. In addition to the main business, associated services are also offered.
Sources: Refinitiv Eikon, Cision, Nordnet & company websites.
