Neovacs SA (ALNEV) AI Stock Analysis

Neovacs SA

(Paris:ALNEV)

Select Model

Rating:43Neutral

Price Target:EUR 0.09▼(-8.42% Downside)

Action:upgraded

Date:10/22/26

The score is pulled down primarily by weak financial performance (ongoing losses, inconsistent and declining revenue, and negative free cash flow) and bearish technical momentum (well below key moving averages with negative MACD). A low-debt balance sheet provides some resilience, but available valuation metrics do not provide meaningful support.

Positive Factors

Low Financial LeverageVery low leverage gives Neovacs greater financial flexibility than a heavily indebted biotech and limits near-term refinancing pressure. This can preserve options for research investment or partnerships, although it does not by itself resolve the company’s ongoing losses or funding needs.

Negative Factors

Sharp Revenue DeclineThe steep 2025 revenue contraction and history of inconsistent sales indicate that Neovacs has not established a stable commercial revenue base. Weak and volatile top-line performance limits operating leverage, reduces internal funding capacity, and makes future growth dependent on successful development or partnering.

Neovacs SA (ALNEV) vs. iShares MSCI France ETF (EWQ)

Market Cap: EUR 173.61K
Dividend Yield: ―
Average Volume (3M): 52.62K
Price to Earnings (P/E): 0.0
Beta (1Y): 1.85
Revenue Growth: -44.46%
EPS Growth: 100.00%
Country: France
Employees: 16
Sector: Healthcare
Sector Strength: 51
Industry: Biotechnology

Neovacs SA Business Overview & Revenue Model

Company Description

Based in Paris, France, Neovacs S.A. is a biotechnology firm established in 1993, dedicated to creating therapeutic vaccines for a range of conditions including autoimmune, inflammatory, allergic, and oncological diseases. The company leverages its p...

How the Company Makes Money

Neovacs’ business model is primarily biotechnology R&D-driven. The company would be expected to generate revenue through (1) out-licensing or co-development agreements for its Kinoid platform and/or individual drug candidates, typically structured wi...

Neovacs SA Financial Statement Overview

Summary

Fundamentals are weak: the income statement reflects deep, persistent losses with sharply declining and volatile revenue, and cash flow is consistently negative (ongoing cash burn). The main offset is a relatively strong balance sheet with very low leverage, which reduces near-term refinancing risk but does not solve profitability and funding needs.

Income Statement

18Very Negative

Balance Sheet

62Positive

Cash Flow

24Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2023	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	228.77K	161.78K	533.41K	366.35K	1,112	22.59K
Gross Profit	-3.20M	-4.52M	-6.75M	42.42K	-6.26M	-7.60M
EBITDA	-5.24M	-5.24M	-8.45M	-6.61M	-3.61M	-10.38M
Net Income	-4.90M	-4.90M	-8.74M	-32.91M	-3.55M	-11.84M
Balance Sheet
Total Assets	22.14M	22.14M	47.53M	22.07M	49.28M	48.55M
Cash, Cash Equivalents and Short-Term Investments	571.79K	571.79K	887.09K	435.45K	6.76M	33.09M
Total Debt	537.20K	537.20K	650.59K	230.37K	1.20M	1.03M
Total Liabilities	4.10M	4.10M	3.71M	4.01M	5.05M	4.65M
Stockholders Equity	18.03M	18.03M	43.82M	18.06M	44.23M	43.90M
Cash Flow
Free Cash Flow	-5.04M	-5.04M	-2.12M	-3.68M	-4.60M	-10.26M
Operating Cash Flow	-5.03M	-5.03M	-1.91M	-3.60M	-4.45M	-9.91M
Investing Cash Flow	-446.17K	-446.17K	-11.08M	1.45M	-31.56M	-18.81M
Financing Cash Flow	5.62M	5.62M	6.79M	1.70M	9.99M	51.75M

Neovacs SA Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

FR:ALNEV against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
FR:TNG	46Neutral	EUR 202.03M	-4.34	-29.36%	―	189.81%	38.50%
FR:ABVX	44Neutral	EUR 6.92B	-16.78	-85.88%	―	―	―
FR:VLA	44Neutral	EUR 466.70M	-2.73	-152.15%	―	-27.19%	-117.39%
FR:OSE	43Neutral	EUR 45.93M	-1.16	-96.73%	―	-96.25%	-197.89%
FR:ALNEV	43Neutral	EUR 173.61K	0.00	-26.52%	―	-44.46%	100.00%
FR:DBV	40Underperform	EUR 534.36M	-3.16	-121.83%	―	―	45.11%

* Healthcare Sector Average

Performance Comparison

FR:ALNEV and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
FR:ALNEV	Neovacs SA	0.10	-375.90	-99.97%
FR:ABVX	Abivax SA	79.05	-4.25	-5.10%
FR:DBV	Dbv Technologies SA (UK)	1.70	-0.77	-31.17%
FR:TNG	Transgene SA	0.73	-0.63	-46.62%
FR:VLA	Valneva (0OB3)	2.45	-1.44	-37.04%
FR:OSE	OSE Immunotherapeutics	1.95	-3.75	-65.75%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 21, 2026

Neovacs SA AI Stock Analysis