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MedinCell SA
(MEDCL)
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Rating:60Neutral
Price Target:
€28.00
▲(13.91% Upside)
Action:Reiterated
Date:10/14/26
The score is held back primarily by weak financial performance (widening losses, thin equity base, and renewed cash burn), partially offset by strong technical momentum (price above major moving averages with positive MACD). Earnings call commentary adds support via improving royalty mix and clear regulatory/commercial progress, while valuation remains constrained by ongoing losses and no dividend yield data.
Positive Factors
Recurring royalty growth
The rising royalty share indicates a durable shift toward recurring, asset-light revenue rather than reliance on one-time milestones. Strong UZEDY sales growth and Teva’s potential $300M 2026 sales outlook could improve revenue quality and support future operating leverage.
Negative Factors
Persistent losses and cash burn
Sustained losses and renewed cash consumption show that commercial progress has not yet translated into self-funded operations. Continued investment may accelerate the pipeline, but it also increases reliance on liquidity, future monetization, or additional funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring royalty growth
The rising royalty share indicates a durable shift toward recurring, asset-light revenue rather than reliance on one-time milestones. Strong UZEDY sales growth and Teva’s potential $300M 2026 sales outlook could improve revenue quality and support future operating leverage.
Read all positive factors
MedinCell SA (MEDCL) vs. iShares MSCI France ETF (EWQ)
Market Cap
€948.13M
Dividend YieldN/A
Average Volume (3M)130.72K
Price to Earnings (P/E)―
Beta (1Y)0.75
Revenue Growth-23.21%
EPS Growth-50.69%
CountryFR
Employees141
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.91
Shares Outstanding35,929,110
10 Day Avg. Volume85,100
30 Day Avg. Volume130,716
Financial Highlights & Ratios
PEG Ratio-0.68
Price to Book (P/B)264.15
Price to Sales (P/S)41.46
P/FCF Ratio-30.43
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€31.86Price Target Upside29.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.15
Revenue Forecast (FY)€37.99M
MedinCell SA Business Overview & Revenue Model
Company Description
MedinCell S.A. specializes in pioneering diverse therapeutic treatments. At the core of its development lies BEPO, a cutting-edge technology that enables the creation of long-acting injectable pharmaceutical products. This system leverages a uniqu...
MedinCell SA Earnings Call Summary
Earnings Call Date:Jun 16, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Dec 09, 2026
Earnings Call Sentiment Positive
The call presents a largely positive strategic picture: strong commercial traction for UZEDY with high-teens to double-digit growth rates, clear regulatory progress for olanzapine LAI (NDA accepted) and an expanding partnered pipeline (15 formulation-stage programs, AbbVie program advancing toward clinic). Management is intentionally increasing investment to accelerate R&D and business development, which drove higher operating expenses and resulted in an operating and net loss this fiscal year, and there are near-term accounting and FX headwinds (non-cash EIB warrant revaluation, USD exposure) as well as some program-specific regulatory uncertainty. Overall, the company is in a transitional, investment-heavy phase with improving recurring royalty revenue that supports a positive outlook if commercial ramps and regulatory approvals proceed as expected.Positive Updates
Strong UZEDY Commercial Momentum
Teva-reported net sales for UZEDY reached $250 million in FY 2025/2026 versus $141 million prior year (≈+77%), driving royalty growth to $10.9 million from $7.1 million in USD (≈+54%). Q1 2026 net sales were $63 million, up 62% year-over-year, and Teva provided an initial 2026 guidance range of $250M–$280M with expectations close to $300M for the year.
Negative Updates
FY Revenue Slightly Lower Due to Absent Milestones
Total income for the period was EUR 24.3 million versus EUR 27.7 million the prior year, primarily because no milestone payments were received this year (prior year included a EUR 4.8 million milestone). This creates year-to-year variability tied to one-off events.
Read all updates
Q4-2026 Updates
Positive
Negative
Strong UZEDY Commercial Momentum
Teva-reported net sales for UZEDY reached $250 million in FY 2025/2026 versus $141 million prior year (≈+77%), driving royalty growth to $10.9 million from $7.1 million in USD (≈+54%). Q1 2026 net sales were $63 million, up 62% year-over-year, and Teva provided an initial 2026 guidance range of $250M–$280M with expectations close to $300M for the year.
Read all positive updates
Company Guidance
Management provided detailed forward guidance focused on three growth engines: UZEDY, olanzapine LAI and a broader pipeline. Key metrics: Teva reported UZEDY net sales of $250m in FY2025/26 (vs $141m prior year) driving royalties to $10.9m (+54% YoY in USD; +42% in EUR to €9.3m), Q1‑2026 sales of $63m (+62% YoY), and Teva’s initial 2026 guidance of $250–$280m (management now sees ~ $300m potential for 2026 and expects blockbuster trajectory into the early 2030s). Olanzapine LAI: NDA accepted Feb‑2026 and EU MAA submitted, targeting U.S. launch in Q4‑2026 (first royalties potentially as early as Q4‑2026) with “meaningful” revenues expected from H2‑2027 and a faster ramp than UZEDY. Pipeline/platform metrics: >4,000 subQ injections with no PDSS, 15 programs in formulation (7 internal, 8 partner‑funded), CMC for the AbbVie program completing this year with a clinical start in 2027, and mdc‑CWM Phase‑III prep/initiation expected in 2026. Financial context/guidance drivers: total income €24.3m (vs €27.7m), royalties = 38% of revenue (vs 22% prior year), OpEx €45m (vs €38.5m) with R&D ≈60% of OpEx, operating loss €20.8m, net loss €31.3m, cash €80.8m (net cash €15.3m), €6.4m AbbVie collaboration revenue, €1.6m early‑stage partner revenues, and no milestone this year (prior year included a €4.8m olanzapine milestone).MedinCell SA Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
35
Negative
Cash Flow
28
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 19.52M | 25.54M | 9.16M | 9.94M | 4.09M |
| Gross Profit | 19.52M | 25.54M | 9.16M | 9.94M | 4.09M |
| EBITDA | -23.67M | -11.20M | -18.61M | -26.41M | -21.45M |
| Net Income | -31.29M | -18.44M | -25.04M | -32.01M | -24.81M |
Balance Sheet | |||||
| Total Assets | 108.05M | 90.45M | 36.95M | 29.34M | 44.30M |
| Cash, Cash Equivalents and Short-Term Investments | 84.82M | 71.90M | 19.46M | 6.47M | 26.59M |
| Total Debt | 57.41M | 58.76M | 58.96M | 57.71M | 47.49M |
| Total Liabilities | 104.99M | 106.82M | 77.77M | 71.63M | 57.67M |
| Stockholders Equity | 3.06M | -16.37M | -40.82M | -42.29M | -13.37M |
Cash Flow | |||||
| Free Cash Flow | -26.60M | 17.80M | -13.11M | -22.03M | -23.34M |
| Operating Cash Flow | -24.55M | 19.46M | -11.92M | -21.00M | -21.36M |
| Investing Cash Flow | -10.51M | -13.21M | -613.00K | 1.30M | -316.00K |
| Financing Cash Flow | 38.82M | 33.32M | 25.53M | 1.56M | -800.00K |
MedinCell SA Technical Analysis
Positive
24.58
Price Trends
24.37
Positive
25.17
Positive
24.83
Positive
Market Momentum
0.56
Positive
53.91
Neutral
57.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:MEDCL, the sentiment is Positive. The current price of 24.58 is below the 20-day moving average (MA) of 26.37, above the 50-day MA of 24.37, and below the 200-day MA of 24.83, indicating a neutral trend. The MACD of 0.56 indicates Positive momentum. The RSI at 53.91 is Neutral, neither overbought nor oversold. The STOCH value of 57.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:MEDCL.
MedinCell SA Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | €948.13M | -28.97 | ― | ― | -23.21% | -50.69% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | €202.03M | -4.34 | -29.36% | ― | 189.81% | 38.50% | |
47 Neutral | €466.70M | -2.73 | -152.15% | ― | -27.19% | -117.39% | |
46 Neutral | €1.43B | -25.56 | 89.71% | ― | ― | ― | |
44 Neutral | €6.92B | -16.78 | -85.88% | ― | ― | ― | |
44 Neutral | €534.36M | -3.16 | -121.83% | ― | ― | 45.11% |
* Healthcare Sector Average
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MedinCell SA Corporate Events
MedinCell Bolsters Finances With €41.8 Million in Non-Dilutive Funding
Oct 13, 2026
MedinCell has strengthened its balance sheet by securing an additional €13.8 million in non-dilutive financing from European banks and Bpifrance, bringing total non-dilutive funding since July 2026 to €41.8 million. The company now hol...
MedinCell Halts Euronext Trading Ahead of Market-Sensitive Announcement
Oct 9, 2026
MedinCell SA requested and obtained a temporary suspension of trading in its shares on Euronext Paris from 9:00 a.m. CEST, ahead of a scheduled company announcement, with trading set to resume the same day at 2:45 p.m. The move signals that the co...
Medincell Shares Suspended on Euronext as Long-Acting Injectable Portfolio Advances
Oct 9, 2026
Trading in Medincell shares on Euronext Paris has been suspended at the company’s request pending the release of further information, temporarily halting market activity in the stock. The suspension underscores heightened investor sensitivit...
MedinCell Updates Share Capital and Voting Rights as BEPO Platform Gains Global Traction
Oct 5, 2026
MedinCell SA, listed on Euronext Paris (Compartment B), operates as a specialized biopharmaceutical licensing company developing long-acting injectable therapies using its proprietary BEPO technology. Its lead product, risperidone LAI, is commerci...
Medincell Extends Postal Voting Window as Flood Alerts Hit Hérault
Sep 30, 2026
Medincell confirmed that its annual general meeting will proceed as scheduled at its Montpellier headquarters, but has introduced an exceptional extension of the postal voting deadline to 3:00 p.m. Paris time today due to severe rain and flood war...
MedinCell’s BEPO Platform Gains Momentum as Teva Unveils Strong Data for Long-Acting Antipsychotics
Sep 21, 2026
New data presented by Teva at Psych Congress 2026 highlight the performance of two long-acting injectables based on MedinCell’s BEPO technology, underscoring the platform’s growing clinical footprint in psychiatric care. Phase 3 post h...
MedinCell steps up investor outreach as long-acting injectable pipeline advances
Sep 9, 2026
MedinCell will showcase its strategy and long-acting injectable portfolio at a series of major healthcare and investment conferences in September 2026, including events hosted by Morgan Stanley, H.C. Wainwright, Jefferies and BioCentury. The inves...
MedinCell Calls 2026 General Meeting, Bolsters Governance and Shareholder Engagement
Sep 8, 2026
MedinCell SA has convened its annual ordinary and extraordinary General Meeting for September 30, 2026 at its headquarters in Jacou, inviting shareholders to attend in person or follow online and strongly encouraging them to exercise their voting ...
Medincell Strengthens Leadership with Appointment of New Chief Medical Officer
Sep 1, 2026
Medincell has appointed experienced pharmaceutical executive Edna Venneker, MD, as Chief Medical Officer, bringing in a former Grünenthal Head of Development with broad expertise in clinical development, regulatory strategy and cross-function...
MedinCell to Present CNS Strategy at Piper Sandler Symposium
Aug 11, 2026
MedinCell SA, a French biopharmaceutical group focused on long-acting injectables, has built its business around BEPO-based depot technologies designed to improve treatment adherence and access while reducing environmental impact. Its platform has...
MedinCell Reports Updated Voting Rights as Long-Acting Injection Portfolio Expands
Aug 5, 2026
MedinCell SA, listed on Euronext Paris, develops and licenses long-acting injectable therapies designed to improve drug adherence and clinical outcomes. Its BEPO technology enables controlled, long-duration release of active pharmaceutical ingredi...
Medincell Gains From Record UZEDY Sales and Progress of Olanzapine LAI
Jul 29, 2026
Teva Pharmaceuticals reported that UZEDY, the long-acting injectable risperidone based on Medincell’s BEPO technology, delivered record U.S. net sales of $77 million in the second quarter of 2026, a 43% year-on-year increase. Supported by IQ...
MedinCell Files 2025/2026 Universal Registration Document With AMF
Jul 28, 2026
MedinCell has filed its 2025/2026 universal registration document with the French market regulator AMF, providing investors with updated annual financials, management discussion, CSR reporting, governance disclosures and the draft resolutions for ...
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.