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MedinCell SA
(MEDCL)
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Rating:54Neutral
Price Target:
€23.00
▼(-6.43% Downside)
Action:Reiterated
Date:07/10/26
The score is held back primarily by weak latest-year financial performance (widening losses and renewed cash burn despite debt dropping to zero). Offsetting this, the earnings call provided strong commercial and pipeline/regulatory momentum (UZEDY growth and olanzapine LAI progress), while technicals are moderately supportive with price above key moving averages and neutral RSI. Valuation remains challenging due to losses and the absence of a dividend yield.
Positive Factors
UZEDY Royalty Growth
Rapid UZEDY sales growth is translating into expanding royalty income, strengthening MedinCell’s recurring revenue base. Continued prescription adoption and Teva’s approximately $300 million 2026 potential support a durable commercial engine beyond milestone-driven revenue.
Negative Factors
Persistent Losses
Materially widening losses show that MedinCell has not yet converted its expanding development portfolio into operating leverage. Continued investment may support future launches, but negative margins reduce internal funding capacity and leave earnings dependent on successful commercialization.
Read all positive and negative factors
Positive Factors
Negative Factors
UZEDY Royalty Growth
Rapid UZEDY sales growth is translating into expanding royalty income, strengthening MedinCell’s recurring revenue base. Continued prescription adoption and Teva’s approximately $300 million 2026 potential support a durable commercial engine beyond milestone-driven revenue.
Read all positive factors
MedinCell SA (MEDCL) vs. iShares MSCI France ETF (EWQ)
Market Cap
€818.71M
Dividend YieldN/A
Average Volume (3M)57.54K
Price to Earnings (P/E)―
Beta (1Y)0.89
Revenue Growth-23.21%
EPS Growth-50.69%
CountryFR
Employees141
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.91
Shares Outstanding35,912,260
10 Day Avg. Volume57,659
30 Day Avg. Volume57,540
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
€38.00Price Target Upside54.60% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.02
Revenue Forecast (FY)€47.65M
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...
How the Company Makes Money
MedinCell primarily makes money by partnering with other pharmaceutical companies to develop long-acting injectable versions of drugs and by monetizing its drug-delivery technology through licensing and collaboration agreements. Under these arrang...
MedinCell SA Earnings Call Summary
Earnings Call Date:Jun 16, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Dec 08, 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
Negative
24.58
Price Trends
25.55
Negative
25.87
Negative
25.21
Negative
Market Momentum
-0.59
Positive
34.16
Neutral
9.60
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:MEDCL, the sentiment is Negative. The current price of 24.58 is above the 20-day moving average (MA) of 24.17, below the 50-day MA of 25.55, and below the 200-day MA of 25.21, indicating a bearish trend. The MACD of -0.59 indicates Positive momentum. The RSI at 34.16 is Neutral, neither overbought nor oversold. The STOCH value of 9.60 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
54 Neutral | €818.71M | -24.84 | ― | ― | -23.21% | -50.69% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | €1.68B | -63.73 | 31.23% | ― | ― | ― | |
47 Neutral | €8.55B | -20.91 | -165.19% | ― | ― | ― | |
47 Neutral | €250.45M | -3.40 | -63.53% | ― | 291.43% | 12.24% | |
47 Neutral | €548.08M | -3.30 | -152.15% | ― | -27.19% | -117.39% | |
43 Neutral | €731.13M | -3.48 | -119.47% | ― | ― | 41.33% |
* Healthcare Sector Average
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MedinCell SA Corporate Events
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.