Orexo AB AI Stock Analysis
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Orexo AB (ORX) AI Stock Analysis
Orexo AB
(Nasdaq OMX AB:ORX)
The overall score is critically low, driven primarily by a catastrophic financial performance where revenue has evaporated and cash burn is unsustainable. While the earnings call highlights promising pipeline progress for Izipry and OX640, the company's immediate financial position is precarious, with minimal cash reserves and a reliance on a future rights issue. The extremely weak technical picture confirms the market's severe risk assessment. The operational catalysts provide a glimmer of hope but are heavily overshadowed by the present financial distress.
Orexo AB (ORX) vs. iShares MSCI Sweden ETF (EWD)
- Market Cap
- SEK 5.66M
- Dividend Yield
- ―
- Average Volume (3M)
- 317.74K
- Price to Earnings (P/E)
- -0.1
- Beta (1Y)
- 0.37
- Revenue Growth
- -97.68%
- EPS Growth
- -83.26%
- Country
- Sweden
- Employees
- 61
- Sector
- Healthcare
- Sector Strength
- 51
- Industry
- Medical - Pharmaceuticals
Orexo AB Business Overview & Revenue Model
Company Description
Orexo AB (publ), a specialty pharmaceutical company, develops and commercializes pharmaceuticals and digital therapies in the United States, European Union, the United Kingdom, and internationally. Its products include Zubsolv tablets for the treatme...
How the Company Makes Money
Orexo makes money primarily by commercializing prescription pharmaceutical products and, where applicable, by partnering its product candidates or technologies. Key revenue streams: 1) Product sales (net revenue): Orexo’s core earnings have historica...
Orexo AB Earnings Call Summary
The call had a cautiously positive operational tone, with meaningful progress on Izipry, OX640, OX390, semaglutide, partnerships, and cost restructuring. However, the company continues to face substantial financial pressures, including low revenue, a SEK 118 million loss from continued operations, negative cash flow, reduced own cash of SEK 62 million, large historical Zubsolv-related obligations, and pending regulatory and partnering milestones. The number and importance of development milestones and the planned rights issue outweighed the challenges, supporting an overall positive sentiment.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Orexo expects Izipry to have a six months of review time, with approval expected in the end of Q1 next year; OX640 is on track to start its pivotal trial in Q4, with results expected in first half of next year, potentially into the beginning of Q2, and the company expects to announce the trial start also in this quarter. Normalized OpEx was SEK 55 million or SEK 18 million per month, but the 18 is higher than where they are aiming, and OpEx is expected to further decline in 2027, with cash flow getting closer to the EBITDA; the ambition is to have a runway taking the company past 2027 without income from partnering. The Zubsolv earn-out is expected in Q1 of next year, BARDA resource contribution is up to $54 million, and the DOJ payment is provisioned at up to $4 million over several years, while no significant numbers are foreseen from Zubsolv rebates moving from now on.
Orexo AB Financial Statement Overview
Summary
Financial health is critically weak. Revenue has collapsed 90% TTM, net profit margin is -236%, and free cash flow is deeply negative with an 890% decline. The only minor positive is a now-low debt-to-equity ratio of 0.04, but this was achieved through massive equity destruction, with a -137% return on equity.
Income Statement
8Very NegativeBalance Sheet
42NeutralCash Flow
15Very Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.60M | 26.00M | 590.00M | 638.80M | 624.30M | 565.00M |
| Gross Profit | -7.60M | -55.50M | 517.90M | 549.90M | 552.00M | 486.10M |
| EBITDA | -302.10M | -285.90M | 34.50M | -22.00M | -73.90M | -141.30M |
| Net Income | -375.00M | -129.80M | -203.00M | -128.30M | -177.60M | -223.50M |
Balance Sheet | ||||||
| Total Assets | 377.00M | 1.30B | 594.80M | 786.60M | 1.11B | 1.27B |
| Cash, Cash Equivalents and Short-Term Investments | 152.60M | 912.40M | 123.30M | 171.00M | 351.80M | 504.10M |
| Total Debt | 6.60M | 492.20M | 476.00M | 473.80M | 539.60M | 550.50M |
| Total Liabilities | 199.60M | 812.20M | 721.10M | 727.70M | 915.10M | 924.10M |
| Stockholders Equity | 177.40M | 490.60M | -126.30M | 58.90M | 193.90M | 349.60M |
Cash Flow | ||||||
| Free Cash Flow | -98.40M | 173.00M | -37.30M | -113.90M | -180.50M | -281.80M |
| Operating Cash Flow | -93.40M | 173.00M | -32.70M | -95.00M | -156.60M | -229.00M |
| Investing Cash Flow | 635.00M | 635.90M | -5.30M | 200.80M | -234.70M | -52.90M |
| Financing Cash Flow | -496.80M | -2.30M | -15.50M | -70.10M | -21.40M | 250.60M |
Orexo AB Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ORX, the sentiment is Negative. The current price of 0.87 is below the 20-day moving average (MA) of 2.43, below the 50-day MA of 5.41, and below the 200-day MA of 11.16, indicating a bearish trend. The MACD of -1.29 indicates Negative momentum. The RSI at 13.06 is Positive, neither overbought nor oversold. The STOCH value of 9.72 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ORX.
Orexo AB Peers Comparison
Overall Rating
SE:CAMX78Outperform
SE:SOBI72Outperform
SE:IRLAB.A52Neutral
SE:ALZCUR49Neutral
SE:XSPRAY40Underperform- SE:ORX39Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| SE:CAMX | 78Outperform | SEK 43.75B | 58.03 | 16.50% | ― | 2.96% | -4.07% |
| SE:SOBI | 72Outperform | SEK 165.71B | 25.38 | 15.99% | ― | 14.79% | 26766.85% |
| SE:IRLAB.A | 52Neutral | SEK 333.86M | -3.28 | -97.06% | ― | 4.74% | 66.33% |
| Sector * | 51Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
| SE:ALZCUR | 49Neutral | SEK 890.82M | 44.74 | 65.99% | ― | ― | ― |
| SE:XSPRAY | 40Underperform | SEK 616.42M | -3.85 | -25.14% | ― | ― | 44.46% |
| SE:ORX | 39Underperform | SEK 377.97M | -0.10 | -115.03% | ― | -97.68% | -83.26% |
* Healthcare Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| SE:ORX | Orexo AB | 0.87 | -16.70 | -95.07% | |
| SE:SOBI | Swedish Orphan Biovitrum Ab | 487.00 | 146.80 | 43.15% | |
| SE:CAMX | Camurus AB | 739.00 | 95.50 | 14.84% | |
| SE:ALZCUR | AlzeCure Pharma AB | 6.52 | 4.76 | 270.45% | |
| SE:IRLAB.A | IRLAB Therapeutics AB Class A | 0.62 | -1.65 | -72.69% | |
| SE:XSPRAY | Xspray Pharma AB | 11.28 | -13.18 | -53.89% |
Orexo AB Corporate Events
Orexo Publishes Disclosure Document for Approximately SEK 253 Million Rights Issue
Orexo has published a disclosure document for an approximately SEK 253 million rights issue announced on October 6 and approved by an extraordinary general meeting on November 6. The document was registered with Sweden’s Financial Supervisory Authori...
Orexo, SVF Vaccines to Explore Powder-Based LNP-mRNA Vaccine Formulation
Orexo AB and SVF Vaccines AB announced a research collaboration covering AmorphOX®-based, powder-formulated LNP-mRNA vaccines. The work evaluates whether formulations can be spray dried while preserving critical nanoparticle properties and functional...
Orexo Announces Two OX640 Data Presentations at ACAAI 2026
Orexo is a Swedish pharmaceutical company focused on treatments for severe diseases and life-saving rescue medications. Its work includes OX640, a powder-based intranasal epinephrine product in clinical development for emergency treatment of anaphyla...
Orexo Shareholders Approve Rights Issue and Financing Measures
Orexo is a Swedish pharmaceutical company focused on treatments for severe diseases and life-saving rescue medicines. Its AmorphOX® technology supports drug stability and bioavailability, alongside a portfolio of globally approved medicines and clini...
Orexo Sets Terms for SEK 253 Million Rights Issue
Orexo finalized a rights issue of up to 316.1 million ordinary shares at SEK 0.80 each, raising approximately SEK 253 million before costs, subject to shareholder approval. The proceeds will strengthen the company’s finances, fund prioritized develop...
Orexo Wins FDA Review of High‑Dose Naloxone Nasal Powder IZIPRY
Orexo AB has secured U.S. FDA acceptance for review of its resubmitted New Drug Application for IZIPRY, a high‑dose naloxone nasal powder designed to reverse overdoses from potent synthetic opioids such as fentanyl. The decision sets a PDUFA target a...
Orexo Deepens R&D-Driven Transformation Amid Losses and Capital Raise
Orexo AB reported weak third-quarter financials from its continued operations, with net revenues falling to SEK 0.8 million and a widened net loss, reflecting heavy investment in research and development. Cash flow from operating activities was deepl...
Orexo to Present Q3 2026 Interim Results in Live Investor Call
Orexo AB is a Swedish pharmaceutical company focused on treatments for severe diseases and life‑saving rescue medications. Its core innovation is the proprietary AmorphOX drug delivery technology, designed to improve bioavailability and stability acr...
Orexo’s AmorphOX® tech shows promising oral semaglutide bioavailability
Orexo AB has reported promising initial results from its first preclinical in vivo pharmacokinetic study of an oral semaglutide tablet formulated with its AmorphOX® drug delivery technology. The lead formulation showed bioavailability comparable to a...
Orexo launches 250 MSEK rights issue to fund pipeline and strengthen finances
Orexo AB plans a rights issue of about 250 MSEK, subject to shareholder approval, to bolster its balance sheet and fund key development programs including the OX640 pivotal trial, continued work on OX390 and the AmorphOX platform, and completion of t...
Orexo convenes EGM to approve rights issue and capital authorizations
Orexo AB has called an Extraordinary General Meeting for 6 November 2026 in Stockholm, inviting shareholders to participate either in person, by proxy, or through postal voting subject to registration and voting-right procedures. The meeting will add...
Orexo Resubmits High-Dose Opioid Overdose Rescue Drug IZIPRY for FDA Review
Orexo, a Swedish pharma company specializing in severe disease therapies and rescue medications, is leveraging its proprietary AmorphOX platform to enhance drug absorption, stability, and delivery. Listed on Nasdaq Stockholm and OTCQX in the U.S., it...
Orexo Wins FDA Green Light to Advance Needle‑Free Anaphylaxis Treatment OX640
Orexo AB has secured U.S. FDA acceptance of its Investigational New Drug application for OX640, a powder‑based intranasal epinephrine candidate for emergency treatment of anaphylaxis. Based on the AmorphOX platform, OX640 aims to offer a needle‑free...
Orexo Wins BARDA Funding Boost to Extend OX390 Overdose Rescue Development
Orexo AB has secured a contract modification from BARDA that extends the initial development phase of its OX390 rescue medication project to the end of 2027 and adds USD 2.99 million in funding. The deal raises the potential total value of the multi-...
Orexo CFO Fredrik Järrsten to Step Down as Company Streamlines Operations
Orexo AB has announced that Chief Financial Officer Fredrik Järrsten will resign and leave the company in December 2026 after four years in the role. Järrsten, who also oversaw several administrative functions and previously business development, is...
Orexo Moves to Settle U.S. DOJ Probe With Non‑Prosecution Deal
Orexo AB has reached a non‑binding agreement in principle with the U.S. Department of Justice to resolve a long‑running investigation that began in 2020. The deal would involve a USD 4 million payment over several years and a capped contingent paymen...
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 11, 2026