Active Biotech AB (ACTI) AI Stock Analysis

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Active Biotech AB

(Nasdaq OMX AB:ACTI)

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Rating:39Underperform

Price Target:SEK 3.50▼(-1.13% Downside)

Action:downgraded

Date:11/13/26

Active Biotech's depressed overall score is predominantly driven by its pre-revenue status, persistent negative cash flow, and a severe bearish technical downtrend. Although the company boasts a zero-debt balance sheet and has made progress in narrowing net losses, the continuous depletion of stockholder equity and lack of profitability present substantial near-term risks.

Positive Factors

Low LeverageVery limited debt reduces fixed financial obligations and leaves the company less exposed to interest costs or refinancing pressure. This provides some balance-sheet flexibility while Active Biotech advances its development programs, although operating losses still require careful funding management.

Negative Factors

No Reported RevenueThe absence of reported revenue means the company has not yet demonstrated commercial monetization of its development activities. This leaves financial performance dependent on future partnering, milestone, licensing, or product outcomes rather than an established recurring revenue base.

Active Biotech AB (ACTI) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 93.32M
Dividend Yield: ―
Average Volume (3M): 56.82K
Price to Earnings (P/E): -5.1
Beta (1Y): 0.11
Revenue Growth: ―
EPS Growth: 51.09%
Country: Sweden
Employees: 5
Sector: Healthcare
Sector Strength: 51
Industry: Biotechnology

Active Biotech AB Business Overview & Revenue Model

Company Description

Active Biotech AB (publ), a biotechnology company, engages in the research, development, production, marketing, and sale of medical, chemical, and biotechnology products in Sweden. It is developing Tasquinimod, a small molecule immunomodulator, which...

How the Company Makes Money

Active Biotech AB’s ability to generate revenue is primarily linked to the monetization of its drug development pipeline rather than product sales. Typical revenue sources for a clinical-stage biotech include (1) out-licensing or partnering its drug...

Active Biotech AB Financial Statement Overview

Summary

Active Biotech is a pre-revenue clinical-stage company with ongoing operational cash burn. While it benefits from a highly conservative zero-debt balance sheet and narrowing net losses, continuous erosion of total assets and equity highlights severe reliance on future external funding.

Income Statement

15Very Negative

Balance Sheet

45Neutral

Cash Flow

20Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0	0	0	0	0	0
Gross Profit	-1.60M	-1.60M	-1.64M	-1.68M	-1.49M	-1.28M
EBITDA	-34.80M	-36.00M	-38.26M	-43.89M	-56.67M	-48.52M
Net Income	-35.90M	-37.30M	-39.40M	-45.80M	-58.69M	-49.88M
Balance Sheet
Total Assets	41.10M	70.20M	43.20M	44.05M	51.01M	56.80M
Cash, Cash Equivalents and Short-Term Investments	36.30M	65.10M	27.40M	36.22M	41.80M	53.13M
Total Debt	0	1.74M	3.18M	4.54M	6.04M	986.00K
Total Liabilities	12.30M	14.60M	11.13M	13.38M	16.49M	10.13M
Stockholders Equity	28.80M	55.60M	32.07M	30.67M	34.51M	46.67M
Cash Flow
Free Cash Flow	-31.40M	-32.40M	-40.40M	-45.74M	-55.09M	-46.17M
Operating Cash Flow	-31.40M	-32.40M	-40.40M	-45.74M	-54.85M	-46.17M
Investing Cash Flow	0	0	0	0	-245.00K	0
Financing Cash Flow	58.50M	70.10M	31.60M	40.16M	43.76M	73.09M

Active Biotech AB Technical Analysis

Technical Analysis SentimentNegative

Last Price3.54

Price Trends

50DMA3.81Negative

100DMA4.55Negative

200DMA5.06Negative

Market Momentum

MACD-0.06Negative

RSI45.83Neutral

STOCH32.26Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ACTI, the sentiment is Negative. The current price of 3.54 is below the 20-day moving average (MA) of 3.59, below the 50-day MA of 3.81, and below the 200-day MA of 5.06, indicating a bearish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 45.83 is Neutral, neither overbought nor oversold. The STOCH value of 32.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ACTI.

Active Biotech AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

SE:ACTI against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:CANTA	83Outperform	SEK 391.34M	2.04	63.09%	―	―	―
SE:HNSA	60Neutral	SEK 4.77B	-5.93	―	―	68.88%	10.63%
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SE:ONCO	44Neutral	SEK 763.50M	-2.81	―	―	65.37%	43.28%
SE:BINV	43Neutral	SEK 191.82M	-0.39	-128.54%	―	-83.67%	-50.29%
SE:SYNACT	43Neutral	SEK 743.15M	-7.07	-60.58%	―	―	14.35%
SE:ACTI	39Underperform	SEK 93.32M	-5.06	-85.07%	―	―	51.09%

* Healthcare Sector Average

Performance Comparison

SE:ACTI and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:ACTI	Active Biotech AB	3.54	-2.59	-42.28%
SE:HNSA	Hansa Biopharma	46.84	20.60	78.51%
SE:BINV	BioInvent International AB	2.92	-26.98	-90.25%
SE:ONCO	Oncopeptides AB	1.77	-3.13	-63.86%
SE:SYNACT	SynAct Pharma AB	13.22	-7.88	-37.35%
SE:CANTA	Cantargia AB	1.39	-2.06	-59.77%

Active Biotech AB Corporate Events

Active Biotech Clears First Safety Cohort in Tasquinimod Myelofibrosis Trial

Oct 13, 2026

Active Biotech has reported that the first cohort of three patients treated under an amended protocol in the European Phase Ib/II HOVON 172 MF study of tasquinimod in myelofibrosis has completed a six-week safety evaluation. One serious adverse event...

Active Biotech Wins Japanese Patent for Laquinimod Eye Treatment, Bolstering Global IP Strategy

Sep 30, 2026

Active Biotech has secured a key patent in Japan for an ophthalmic eye-drop formulation of its clinical candidate laquinimod, designed to deliver the drug to the posterior parts of the eye for treating severe inflammatory conditions such as non-infec...

Active Biotech Deepens U.S. Ties to Advance Tasquinimod in Myelofibrosis

Aug 18, 2026

Active Biotech has expanded its U.S. collaboration by signing a new agreement with the Icahn School of Medicine at Mount Sinai, part of the Myeloproliferative Neoplasms Research Consortium, to support development of its drug candidate tasquinimod 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.

Date of analysis: Nov 13, 2026

Active Biotech AB AI Stock Analysis