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Immunicum AB
(IMMU)
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Rating:43Neutral
Price Target:
kr5.00
▼(-13.34% Downside)
Action:Reiterated
Date:10/13/26
The score is driven primarily by weak financial performance (persistent losses, no recent revenue, and continued cash burn), reinforced by bearish technical signals (price below key moving averages and negative MACD). A low-leverage balance sheet provides some stability, but negative earnings and no dividend limit valuation support.
Positive Factors
Low leverage
Very low leverage gives Immunicum greater financial flexibility than many early-stage biotech companies. Limited debt reduces interest and refinancing pressure, allowing more of its available capital to support clinical development and other strategic priorities.
Negative Factors
No recurring revenue base
Zero revenue across the latest TTM and two annual periods leaves the company without a consistent commercial funding base. Operations therefore remain dependent on external financing or collaboration-related payments rather than repeatable product sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Very low leverage gives Immunicum greater financial flexibility than many early-stage biotech companies. Limited debt reduces interest and refinancing pressure, allowing more of its available capital to support clinical development and other strategic priorities.
Read all positive factors
Immunicum AB (IMMU) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr338.74M
Dividend YieldN/A
Average Volume (3M)21.51K
Price to Earnings (P/E)―
Beta (1Y)0.41
Revenue GrowthN/A
EPS Growth15.97%
CountrySE
Employees19
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.79
Shares Outstanding64,784,580
10 Day Avg. Volume25,582
30 Day Avg. Volume21,510
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)0.50
Price to Sales (P/S)0.00
P/FCF Ratio-3.57
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-1.46
Revenue Forecast (FY)kr5.00M
Immunicum AB Business Overview & Revenue Model
Company Description
Mendus AB (publ), a biopharmaceutical entity formerly known as Immunicum AB (publ) until its name change in June 2022, specializes in developing immunotherapies and vaccines designed to prevent cancer recurrence. Its primary investigational compou...
How the Company Makes Money
Immunicum AB has historically not had recurring revenue from marketed products; as a clinical-stage biotechnology company, its ability to generate operating income has primarily depended on external financing and, where applicable, collaboration-r...
Immunicum AB Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
66
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 28.49M | 3.00M | 6.00K |
| Gross Profit | -4.55M | -6.29M | -6.52M | 28.49M | -1.85M | -1.84M |
| EBITDA | -106.50M | -113.97M | -120.68M | -94.92M | -128.67M | -128.28M |
| Net Income | -102.49M | -113.26M | -128.40M | -101.62M | -136.99M | -136.69M |
Balance Sheet | ||||||
| Total Assets | 621.67M | 628.32M | 696.36M | 755.95M | 620.39M | 720.98M |
| Cash, Cash Equivalents and Short-Term Investments | 59.88M | 64.66M | 101.91M | 120.78M | 41.85M | 155.31M |
| Total Debt | 17.93M | 18.85M | 22.71M | 24.49M | 78.16M | 36.98M |
| Total Liabilities | 76.38M | 43.26M | 51.22M | 51.23M | 105.95M | 64.24M |
| Stockholders Equity | 545.29M | 585.07M | 645.15M | 704.73M | 514.44M | 656.74M |
Cash Flow | ||||||
| Free Cash Flow | -74.54M | -81.84M | -81.51M | -164.58M | -121.43M | -139.39M |
| Operating Cash Flow | -73.93M | -81.53M | -79.67M | -162.76M | -109.33M | -138.03M |
| Investing Cash Flow | 196.00K | -734.00K | -1.58M | -442.00K | -12.32M | -1.36M |
| Financing Cash Flow | 74.45M | 45.18M | 61.52M | 242.10M | 8.19M | 127.03M |
Immunicum AB Technical Analysis
Negative
5.77
Price Trends
6.36
Negative
6.37
Negative
5.68
Negative
Market Momentum
-0.29
Negative
38.89
Neutral
49.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:IMMU, the sentiment is Negative. The current price of 5.77 is above the 20-day moving average (MA) of 5.58, below the 50-day MA of 6.36, and above the 200-day MA of 5.68, indicating a bearish trend. The MACD of -0.29 indicates Negative momentum. The RSI at 38.89 is Neutral, neither overbought nor oversold. The STOCH value of 49.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:IMMU.
Immunicum AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | kr416.43M | 2.17 | 63.09% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | kr1.36B | -2.74 | -99.58% | ― | -87.22% | -70.29% | |
48 Neutral | kr189.86M | -8.04 | -56.09% | ― | ― | 14.10% | |
47 Neutral | kr716.05M | -2.13 | ― | ― | 87.23% | 35.27% | |
43 Neutral | kr338.74M | -2.98 | -18.05% | ― | ― | 15.97% | |
39 Underperform | kr36.04M | -0.01 | -439.98% | ― | -99.33% | 64.90% |
* Healthcare Sector Average
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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.