Alzinova AB (ALZ) AI Stock Analysis

Alzinova AB

(Nasdaq OMX AB:ALZ)

Select Model

Rating:43Neutral

Price Target:SEK 0.34▼(-3.39% Downside)

Action:reiterated

Date:09/23/26

The overall score of 43 is driven primarily by weak profitability and sustained cash burn, which outweigh the strength of Alzinova AB’s low-leverage, equity-supported balance sheet. Bearish price trends and negative momentum further pressure the rating, while the loss-driven valuation profile and lack of dividends provide limited support for the stock at this stage.

Positive Factors

Minimal leverageMinimal debt reduces financial pressure while Alzinova funds long-duration Alzheimer’s research. Low leverage preserves flexibility to absorb operating losses, pursue development milestones, and consider future financing or partnering options without a large existing debt burden.

Negative Factors

Persistent operating lossesLarge and recurring operating losses show that Alzinova remains far from breakeven while it funds drug development. Continued deficits can consume the equity base over time and make future financial performance dependent on successful clinical progress or additional capital.

Alzinova AB (ALZ) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 112.04M
Dividend Yield: ―
Average Volume (3M): 2.50M
Price to Earnings (P/E): -1.7
Beta (1Y): 0.66
Revenue Growth: -100.00%
EPS Growth: 20.94%
Country: Sweden
Employees: 7
Sector: Healthcare
Sector Strength: 51
Industry: Biotechnology

Alzinova AB Business Overview & Revenue Model

Company Description

Alzinova AB (publ) is a Swedish biotechnology company dedicated to advancing novel immunotherapies against Alzheimer's disease. Their primary investigational product, ALZ-101, is a vaccine specifically designed to target oligomers responsible for Alz...

How the Company Makes Money

Alzinova AB’s primary economic model is typical of early-stage biotechnology companies focused on drug development: it seeks to create shareholder value and potential future revenues by advancing proprietary drug candidates through preclinical and cl...

Alzinova AB Financial Statement Overview

Summary

Overall financial performance is weak, with chronically negative income and cash flow offset by a relatively strong, low-leverage balance sheet. Revenues are small and volatile, margins are deeply negative, and cash burn is persistent, but equity and assets have grown and debt remains very low, providing some buffer for ongoing clinical development.

Income Statement

28Negative

Balance Sheet

78Positive

Cash Flow

32Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.98M	0	30.00K	270.00K	16.63M	17.32M
Gross Profit	15.05M	26.55M	16.81M	19.87M	33.27M	34.64M
EBITDA	-25.63M	-25.85M	-20.32M	140.00K	18.55K	-7.52M
Net Income	-24.29M	-26.27M	-20.55M	-16.48M	-13.07M	-7.58M
Balance Sheet
Total Assets	163.57M	143.43M	133.23M	123.19M	111.62M	91.69M
Cash, Cash Equivalents and Short-Term Investments	13.31M	319.00K	15.50M	22.03M	32.04M	28.84M
Total Debt	800.00K	800.00K	800.00K	800.00K	800.00K	800.00K
Total Liabilities	7.60M	21.47M	9.40M	9.33M	6.09M	3.22M
Stockholders Equity	155.97M	121.96M	123.82M	113.86M	105.53M	88.47M
Cash Flow
Free Cash Flow	-34.60M	-39.58M	-37.05M	-34.82M	-26.95M	-27.14M
Operating Cash Flow	-23.75M	-13.03M	-20.27M	-15.21M	-10.31M	-9.82M
Investing Cash Flow	-19.92M	-26.55M	-16.78M	-19.60M	-16.63M	-17.32M
Financing Cash Flow	45.47M	24.41M	30.52M	24.80M	30.15M	0

Alzinova AB Technical Analysis

Technical Analysis SentimentNegative

Last Price0.35

Price Trends

50DMA0.53Negative

100DMA0.65Negative

200DMA0.61Negative

Market Momentum

MACD-0.04Negative

RSI31.96Neutral

STOCH15.14Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ALZ, the sentiment is Negative. The current price of 0.35 is below the 20-day moving average (MA) of 0.41, below the 50-day MA of 0.53, and below the 200-day MA of 0.61, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 31.96 is Neutral, neither overbought nor oversold. The STOCH value of 15.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ALZ.

Alzinova AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

SE:ALZ against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:SANION	77Outperform	SEK 1.54B	8.30	29.71%	―	24.98%	-31.44%
SE:BIOA.B	65Neutral	SEK 28.15B	266.55	5.18%	0.68%	-46.09%	-90.13%
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SE:ALZCUR	48Neutral	SEK 882.54M	42.87	65.99%	―	―	―
SE:ALZ	43Neutral	SEK 112.04M	-1.68	-17.52%	―	-100.00%	20.94%
SE:ACTI	42Neutral	SEK 105.31M	-10.14	-93.01%	―	―	54.60%
SE:IRLAB.A	42Neutral	SEK 310.81M	-3.21	-97.06%	―	4.74%	66.33%

* Healthcare Sector Average

Performance Comparison

SE:ALZ and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:ALZ	Alzinova AB	0.35	-1.07	-75.14%
SE:ALZCUR	AlzeCure Pharma AB	6.40	4.51	238.45%
SE:BIOA.B	BioArctic AB Class B	317.20	36.66	13.07%
SE:SANION	Saniona AB	11.13	-4.73	-29.82%
SE:IRLAB.A	IRLAB Therapeutics AB Class A	2.09	-0.40	-15.90%
SE:ACTI	Active Biotech AB	4.00	-2.42	-37.76%

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: Sep 23, 2026

Alzinova AB AI Stock Analysis