Biovica International AB Class B (BIOVIC.B) AI Stock Analysis

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Biovica International AB Class B

(Nasdaq OMX AB:BIOVIC.B)

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Rating:45Neutral

Price Target:SEK 0.35▼(-2.51% Downside)

Action:reiterated

Date:10/03/26

The score is held down primarily by weak financial quality—negative gross profit, very large losses, and heavy free-cash-flow burn—despite improving revenue and a reduction in losses versus earlier years. Technicals add pressure as the stock trades below key moving averages with negative MACD, even though RSI suggests oversold conditions. Valuation contributes only modestly because the negative P/E reflects ongoing losses and there is no dividend yield provided.

Positive Factors

Revenue GrowthRevenue growth and improving commercial traction indicate that Biovica is increasing adoption of its diagnostics offering. Continued top-line expansion can support operating leverage over time, broaden the customer base, and create a stronger foundation for future progress toward profitability.

Negative Factors

Persistent UnprofitabilityNegative gross profit and deeply negative net margins show that current revenue does not cover the cost base, making profitability highly dependent on substantial improvement in economics or scale. This weak earnings foundation can limit self-funded growth and prolong reliance on external capital.

Biovica International AB Class B (BIOVIC.B) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 103.68M
Dividend Yield: ―
Average Volume (3M): 537.18K
Price to Earnings (P/E): -1.4
Beta (1Y): 1.60
Revenue Growth: 56.06%
EPS Growth: 63.95%
Country: Sweden
Employees: 24
Sector: Healthcare
Sector Strength: 51
Industry: Biotechnology

Biovica International AB Class B Business Overview & Revenue Model

Company Description

Biovica International AB (publ) operates as a biotechnology enterprise, concentrating on the development and market introduction of sophisticated blood-based biomarker tests. These diagnostic solutions aim to enhance the tracking and prediction of ca...

Biovica International AB Class B Financial Statement Overview

Summary

Revenue is growing (~10.8% TTM to ~14.8M) and losses/cash burn have improved versus prior years, but profitability is still extremely weak (negative gross profit and very large negative margins) with substantial ongoing free cash flow burn (~-64.0M TTM). Low leverage supports flexibility, yet equity has declined meaningfully, underscoring funding dependence.

Income Statement

18Very Negative

Balance Sheet

62Positive

Cash Flow

21Negative

Financial statement breakdown
Breakdown	TTM	Apr 2025	Apr 2024	Apr 2023	Apr 2022	Apr 2022
Income Statement
Total Revenue	14.83M	13.38M	8.62M	7.29M	2.04M	3.38M
Gross Profit	-47.52M	-70.05M	8.08M	6.88M	4.67M	4.62M
EBITDA	-63.18M	-61.75M	-76.22M	-114.42M	-53.47M	-102.19M
Net Income	-72.23M	-69.86M	-87.62M	-124.82M	-60.00M	-110.49M
Balance Sheet
Total Assets	90.07M	107.75M	64.95M	131.41M	151.63M	172.29M
Cash, Cash Equivalents and Short-Term Investments	51.59M	70.41M	24.41M	79.41M	89.79M	114.33M
Total Debt	6.02M	4.30M	4.65M	7.83M	13.25M	10.45M
Total Liabilities	23.50M	21.42M	21.74M	34.77M	27.54M	33.65M
Stockholders Equity	66.57M	86.33M	43.21M	96.64M	124.09M	138.63M
Cash Flow
Free Cash Flow	-64.04M	-63.28M	-85.65M	-114.72M	-55.52M	-97.42M
Operating Cash Flow	-61.71M	-62.81M	-85.37M	-114.58M	-52.13M	-94.64M
Investing Cash Flow	-2.33M	-474.00K	-287.00K	-585.00K	-3.40M	-2.78M
Financing Cash Flow	99.41M	109.36M	30.93M	79.50M	-136.00K	122.01M

Biovica International AB Class B Technical Analysis

Technical Analysis SentimentPositive

Last Price0.36

Price Trends

50DMA0.34Positive

100DMA0.39Negative

200DMA0.38Negative

Market Momentum

MACD0.00Negative

RSI62.66Neutral

STOCH79.92Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BIOVIC.B, the sentiment is Positive. The current price of 0.36 is above the 20-day moving average (MA) of 0.31, above the 50-day MA of 0.34, and below the 200-day MA of 0.38, indicating a neutral trend. The MACD of 0.00 indicates Negative momentum. The RSI at 62.66 is Neutral, neither overbought nor oversold. The STOCH value of 79.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:BIOVIC.B.

Biovica International AB Class B Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

SE:BIOVIC.B against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:SPRINT	79Outperform	SEK 379.86M	5.00	94.09%	―	135.48%	―
SE:CANTA	70Outperform	SEK 451.68M	2.35	63.09%	―	―	―
SE:FLUI	56Neutral	SEK 38.33M	13.65	21.37%	―	837.37%	―
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SE:ELIC	48Neutral	SEK 177.19M	-7.51	-56.09%	―	―	14.10%
SE:BIOVIC.B	45Neutral	SEK 103.68M	-1.44	-75.51%	―	56.06%	63.95%
SE:SPAGO	43Neutral	SEK 32.09M	-0.85	-106.23%	―	-97.37%	25.28%

* Healthcare Sector Average

Performance Comparison

SE:BIOVIC.B and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:BIOVIC.B	Biovica International AB Class B	0.36	-0.14	-27.47%
SE:ELIC	Elicera Therapeutics AB	2.65	-3.44	-56.47%
SE:SPAGO	Spago Nanomedical AB	0.04	-0.11	-72.79%
SE:CANTA	Cantargia AB	1.60	-1.97	-55.13%
SE:SPRINT	Sprint Bioscience AB	3.60	2.88	398.61%
SE:FLUI	Fluicell AB	27.90	14.90	114.62%

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 03, 2026

Biovica International AB Class B AI Stock Analysis

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