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Vicore Pharma Holding AB
(VICO)
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Rating:46Neutral
Price Target:
kr8.50
▼(-20.86% Downside)
Action:Reiterated
Date:08/22/26
The score is primarily held down by heavy ongoing losses and large negative operating/free cash flow, which elevate funding and dilution risk. Technical indicators add a mildly bearish tone (negative MACD, sub-50 RSI, price below short/intermediate moving averages). The main offset is a strong, low-debt balance sheet that reduces near-term solvency risk despite continued cash burn.
Positive Factors
Low leverage
An effectively debt-free balance sheet reduces solvency and interest burdens while preserving flexibility to fund clinical development. The sizable equity base provides a financial cushion, although continued losses could reduce it over time.
Negative Factors
Heavy cash burn
Deeply negative operating and free cash flow means Vicore cannot currently fund its development program from internal cash generation. Persistent deterioration increases dependence on financings, partnerships, or other capital sources and raises dilution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
An effectively debt-free balance sheet reduces solvency and interest burdens while preserving flexibility to fund clinical development. The sizable equity base provides a financial cushion, although continued losses could reduce it over time.
Read all positive factors
Vicore Pharma Holding AB (VICO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr2.49B
Dividend YieldN/A
Average Volume (3M)1.02M
Price to Earnings (P/E)―
Beta (1Y)0.84
Revenue Growth-48.40%
EPS Growth-1.06%
CountrySE
Employees46
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.92
Shares Outstanding281,644,500
10 Day Avg. Volume1,420,707
30 Day Avg. Volume1,021,950
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)2.47
Price to Sales (P/S)710.16
P/FCF Ratio-7.21
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr38.00Price Target Upside253.82% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-1.81
Revenue Forecast (FY)kr3.67M
Vicore Pharma Holding AB Business Overview & Revenue Model
Company Description
Vicore Pharma Holding AB (publ), a Gothenburg, Sweden-based company, specializes in the discovery and advancement of therapies for rare lung conditions. Its core pipeline features VP01, an orally administered small molecule currently in Phase II c...
How the Company Makes Money
As a clinical-stage biopharmaceutical company, Vicore Pharma’s ability to generate recurring product revenue depends on obtaining regulatory approval and successfully commercializing its drug candidates; information indicating that Vicore currentl...
Vicore Pharma Holding AB Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
64
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.99M | 3.82M | 109.35M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 3.23M | 3.82M | 109.35M | -3.42M | -3.61M | -3.60M |
| EBITDA | -541.61M | -477.41M | -166.64M | -317.47M | -286.20M | -289.82M |
| Net Income | -502.04M | -477.47M | -168.63M | -310.94M | -288.42M | -296.48M |
Balance Sheet | ||||||
| Total Assets | 929.87M | 1.22B | 1.20B | 497.84M | 338.01M | 451.17M |
| Cash, Cash Equivalents and Short-Term Investments | 905.64M | 1.17B | 1.16B | 482.66M | 261.74M | 371.20M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 65.00K | 320.00K |
| Total Liabilities | 76.25M | 124.16M | 73.78M | 42.45M | 48.92M | 67.85M |
| Stockholders Equity | 853.63M | 1.10B | 1.13B | 455.39M | 289.08M | 383.32M |
Cash Flow | ||||||
| Free Cash Flow | -299.51M | -375.74M | -164.95M | -448.62M | -302.92M | -265.17M |
| Operating Cash Flow | -455.43M | -374.44M | -164.95M | -249.58M | -299.92M | -265.17M |
| Investing Cash Flow | 98.82M | -601.81M | 149.04M | -144.46M | 74.00M | -7.00M |
| Financing Cash Flow | 430.53M | 430.54M | 834.06M | 470.86M | 187.04M | 318.18M |
Vicore Pharma Holding AB Technical Analysis
Negative
10.74
Price Trends
10.09
Negative
10.85
Negative
10.78
Negative
Market Momentum
-0.35
Negative
44.91
Neutral
33.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:VICO, the sentiment is Negative. The current price of 10.74 is above the 20-day moving average (MA) of 9.11, above the 50-day MA of 10.09, and below the 200-day MA of 10.78, indicating a neutral trend. The MACD of -0.35 indicates Negative momentum. The RSI at 44.91 is Neutral, neither overbought nor oversold. The STOCH value of 33.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:VICO.
Vicore Pharma Holding AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | kr377.81M | 1.99 | 63.09% | ― | ― | ― | |
56 Neutral | kr3.89B | -4.78 | ― | ― | -3.57% | 8.84% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | kr980.37M | -8.85 | -58.12% | ― | ― | 1.42% | |
46 Neutral | kr2.49B | -4.78 | -53.71% | ― | -48.40% | -1.06% | |
43 Neutral | kr1.42B | -2.72 | -99.58% | ― | -87.22% | -70.29% |
* Healthcare Sector Average
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Vicore Pharma Holding AB Corporate Events
Vicore’s IPF Drug Clears Futility Test as ASPIRE Trial Marches Toward 2027 Readout
Oct 22, 2026
Vicore Pharma said an independent Data Monitoring Committee has cleared its Phase 2b ASPIRE trial of buloxibutid in idiopathic pulmonary fibrosis to continue without changes after a pre-planned futility analysis found no reason to stop the study e...
Vicore Pharma to Spotlight IPF Program at Chardan Healthcare Conference
Oct 13, 2026
Vicore Pharma will join the Chardan Healthcare Conference in New York, participating in a panel on idiopathic pulmonary fibrosis and chronic respiratory disease innovation, alongside one-on-one investor meetings. The company’s CEO, Ahmed Mou...
Vicore Pharma boosts share capital as board incentives convert to equity
Sep 30, 2026
Vicore Pharma Holding AB, a clinical-stage biopharmaceutical company specializing in novel angiotensin II type 2 receptor agonists for respiratory and fibrotic diseases, is advancing its lead IPF candidate buloxibutid through a global Phase 2b tri...
Vicore Pharma to Spotlight IPF Program at Stifel Immunology Forum
Sep 17, 2026
Vicore Pharma will present at the Stifel 2026 Virtual Immunology and Inflammation Forum, highlighting its work in angiotensin II type 2 receptor agonists for respiratory and fibrotic diseases. The company’s CEO, CFO and CMO are scheduled to ...
Vicore Pharma to Highlight IPF Program at Major U.S. Healthcare Conferences
Sep 1, 2026
Vicore Pharma will showcase its leadership and pipeline in respiratory and fibrotic disease therapeutics at two major U.S. healthcare conferences in September 2026. Chief executive Ahmed Mousa is scheduled for 1×1 investor meetings at the Wel...
Vicore Pharma to Highlight ATRAG Pipeline at Pareto Healthcare Conference
Aug 26, 2026
Vicore Pharma will present at the Pareto Securities 17th Annual Healthcare Conference in Stockholm, where Chief Financial Officer Hans Jeppsson will deliver a company presentation and hold one-on-one investor meetings. The appearance offers Vicore...
Vicore Pharma Showcases Buloxibutid IPF Data at ERS 2026 as Phase 2b Trial Advances
Aug 24, 2026
Vicore Pharma will present new clinical and translational data on its lead IPF candidate buloxibutid at the European Respiratory Society Congress 2026 in Barcelona and online. The presentations cover the design and baseline patient characteristics...
Vicore Pharma Issues Comprehensive Q2 2026 Interim Report
Aug 21, 2026
Vicore Pharma Holding AB has released its interim report for the second quarter of 2026, covering the period from April 1 to June 30. The document outlines performance highlights, CEO commentary, pipeline status, financials, sustainability initiat...
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.