NORDIC | BIOTECH & HEALTHCARE Your insights into listed Danish & Nordic biotech & healthcare stocks.
In the past week, the Nordic biotech and healthcare stocks rose 3%. Five companies reported their Q1 earnings, with each CEO expressing excitement for 2025. Notably, Gubra received a new price target by SEB at SEK 700, which indicates an upside of 77% compared to the current stock price. Furthermore, multiple biotech companies are raising capital, including Aptahem and Lipigon. Finally, Curasight is expected to announce the outcome of its rights issue soon.
Latest news for the Danish biotech companies
Acarix AB has developed a technology to identify heart diseases. Moving forward, product sales are the main driver for the stock.
Acarix announced its Q1 results with revenues of MDKK 1.7, growing 11%. The business continues to be loss-making.
Ascendis Pharma develops so-called prodrugs, which are medications that start in an inactive form and become active once inside the body. The main stock price driver going forward is the development and commercialization of its TransCon technology.
Ascendis Pharma delivered data showing response to TransCon in adults with Hypoparathyroidism. The company also released data for TransCon in children with achondroplasia, with signs of improvement in growth and bone morphometry.
Biosergen is developing BSG005 to treat serious and life-threatening fungal infections safely and with limited side effects, contrary to current drugs. The main price triggers are centered around product development and the ongoing clinical trials
No news in the past week
Cessatech develops pain treatments for children. The company is finalizing its phase 3 study for its lead candidate, and the main price driver will be the commercialization for this product.
Cessatech also released its Q1 results with emphasis on positive CT001 MDR assessment, finalization of paediatric safety study 0202, US manufacturing and launch finalization, and EMA submission planning.
Curasight is focused on diagnosing (uTRACE) and treating cancer (uTREAT) through targeted radionuclide therapy. The benefit is treating cancer at the cellular level without harming healthy cells. The main driver of the stock moving forward is the financing of the portfolio as well as pipeline and partnership development. You can read our full investment case here (in Danish).
The subscription period of Curasight’s rights issue of MDKK 100 ended last week. Amongst others, the management team subscribed shares worth more than MDKK 5, and we are now waiting for the final outcome to be announced.
DanCann Pharma focuses on discovering, developing, and producing medical cannabis for pain and neurological conditions. The stock price drivers are regulatory progress and sales development.
DanCann Pharma has this morning received approval by the Danish health authorities for Bedrolite and Bedrobinol under a Danish test program.
Evaxion Biotech develops personalized immunotherapies and vaccines, with recent advancements in their cancer vaccine candidate EVX-01. Clinical trial outcomes and technological innovations currently drive the stock price.
No news in the past week
ExpreS2ion provides protein production technologies for vaccine development and has its own pipeline. Key stock drivers include pipeline progression and licensing agreements.
ExpreS2ion released its Q1 results, showing gradual progress, and the company also filed for a clinical trial amendment in Austria to enable combination testing of its ES2B-C001 with antibody-drug conjugates and to expand the number of study sites.
Fluoguide develops tumor-targeted products that make cancer visible on imaging solutions to improve cancer surgery outcomes, especially within brain and head & neck cancer surgery. The main stock driver is the clinical validation of their imaging technology and additional partnerships.
No news in the past week
Genmab focuses on creating differentiated antibody therapeutics for the treatment of lymphatic leukemia and solid tumors. Genmab has developed Darzalex, with sales of nearly USD 12 billion in 2024. The stock performance is primarily driven by product sales and pipeline developments.
Genmab to present new and updated Results from its robust Epcoritamab (EPKINLY®) development program at the 2025 European Hematology Association (EHA) Congress in June
Gubra offers preclinical contract research services and develops treatments for metabolic diseases. Key stock drivers are partnerships and progress in their internal drug pipeline.
SEB lowered its price target from DKK 800 to DKK 700
Initiator Pharma develops treatments for erectile dysfunction and neuropathic pain. The main stock catalyst is the outcome of clinical trials.
Initiator Pharma has this morning announced a rights issue of MSEK 56 which is 86% secured.
IO Biotech is developing immune-modulating therapies for cancer, with a focus on conditions like melanoma. Stock performance is driven by clinical trial advancements.
IO Biotech also released its Q1 earnings and reaffirmed its expectation that the Phase 3 pivotal trial will readout in the third quarter of 2025.
Pila Pharma is working on TRPV1 antagonists aimed at treating type 2 diabetes. Early clinical data and funding developments are key stock drivers.
No news in the past week
Saniona focuses on ion channel-targeted therapies, including rare eating disorders. The main stock driver is the progression of their clinical pipeline and the approval of the weight loss drug Tesofensine in Mexico.
Saniona appointed Johnny Stilou as their new CFO.
Scandion Oncology is developing treatments to overcome chemotherapy resistance in cancer patients. The company has recently faced significant financial challenges, thus, financial stability is the main driver for the stock price.
No news in the past week
SynAct Pharma develops drugs targeting inflammatory diseases through melanocortin pathways. Clinical milestones significantly influence stock performance
SynAct Pharma got its patent for Resomelagon (AP1189) in combination with methotrexate prolonged in the U.S. until 2042.
ViroGates provides prognostic products for acute care settings to improve patient triage. Stock drivers include hospital adoption rates and revenue growth.
No news in the past week
Y-mAbs Therapeutics develops antibody-based therapies for pediatric cancers. Stock performance is driven by regulatory approvals and commercialization efforts.
Y-mAbs Therapeutics announced its Q1 results with revenues of USD 20.9 million. The company also released its guidance for 2025 with revenues between USD 75-90 million and sufficient cash to operate until 2027.
Zealand Pharma specializes in peptide-based treatments for metabolic and gastrointestinal diseases. The stock has seen increased awareness following the obesity hype, and advancements in their late-stage pipeline and partnerships are key stock price influencers.
No news in the past week
2cureX offers the IndiTreat platform for individualized cancer treatment testing. The main stock driver is the adoption of their technology by hospitals and subsequent sales growth.
2cureX announced a major update with a new CEO, a loan of MSEK 4.5, and a global road map (Link)
The latest share price developments for the Danish biotech stocks
On average, the Danish biotech and healthcare stocks rose 3%. Acarix, Cessatech, ExpreS2ion, IO Biotech, Y-mAbs Therapeutics reported earnings, and while biotech companies usually do not have material revenues, the different management teams showed excitement for the future and issued guidance for 2025. Furthermore, Curasight‘s subscription period ended last week, and we are now waiting for the final outcome to be announced. Finally, Gubra received a new price target from SEB at DKK 700 (DKK 800) at almost twice their current share price.
Overview of share price development in the past week, year-to-date, and the last twelve months
DanCann Pharma does not appear on the list due to data issues.
Multiple Nordic biotech companies are raising capital; you can participate!
Lipigon Pharmaceuticals AB specializes in the research and development of various drug candidates. The product portfolio is broad and includes drugs for rare diseases. These are mainly treatments for diseases caused by disorders in the body’s handling of fats. The company will raise SEK 37.4 million before issue costs and the last day of subscription is May 21, 2025.
Aptahem AB is a Swedish clinical-stage biotech company developing RNA-based drugs for the treatment of sepsis and inflammatory diseases. Sepsis affects 50 million people every year, of which 11 million die. Aptahem’s lead drug candidate, Apta-1, has already demonstrated good safety and anti-inflammatory properties in a Phase I trial. The company is now raising SEK 9.7 million to continue the development of Apta-1 in preparation for a Phase II trial to demonstrate proof-of-concept. The last day of subscription is May 30, 2025.
The subscription period of Curasight’s rights issue of MDKK 100 is over, and we are now waiting for the company to announce the final outcome.
