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Xspray Pharma AB
(XSPRAY)
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Rating:41Neutral
Price Target:
kr10.00
▼(-6.89% Downside)
Action:Reiterated
Date:08/20/26
The score is constrained primarily by very weak financial performance (no revenue, ongoing losses, and persistent cash burn implying dependence on financing) and bearish technicals (price far below key moving averages with negative MACD). Valuation also detracts because the company is unprofitable and provides no dividend yield support.
Positive Factors
Moderate Leverage and Equity Base
The substantial equity base relative to debt provides a financial cushion and limits near-term balance-sheet stress. This supports continued development activity, although ongoing losses and rising leverage could reduce that flexibility over time.
Negative Factors
No Revenue and Persistent Unprofitability
The absence of revenue means the business has not yet demonstrated commercial traction or self-funding capacity. Persistent operating and net losses increase dependence on future financing and leave results highly exposed to delays in commercialization.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate Leverage and Equity Base
The substantial equity base relative to debt provides a financial cushion and limits near-term balance-sheet stress. This supports continued development activity, although ongoing losses and rising leverage could reduce that flexibility over time.
Read all positive factors
Xspray Pharma AB (XSPRAY) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr477.96M
Dividend YieldN/A
Average Volume (3M)170.53K
Price to Earnings (P/E)―
Beta (1Y)0.93
Revenue GrowthN/A
EPS Growth44.46%
CountrySE
Employees24
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.86
Shares Outstanding47,416,573
10 Day Avg. Volume95,150
30 Day Avg. Volume170,530
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)2.00
Price to Sales (P/S)0.00
P/FCF Ratio-5.44
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)-6.2
Revenue Forecast (FY)kr95.00M
Xspray Pharma AB Business Overview & Revenue Model
Company Description
Xspray Pharma AB (publ), a pharmaceutical firm based in Solna, Sweden, specializes in developing protein kinase inhibitors for precise cancer treatments. Their current drug pipeline includes HyNap-Nilo, aimed at chronic myeloid leukemia; HyNap-Sor...
How the Company Makes Money
null...
Xspray Pharma AB Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
27
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -2.78M | -5.58M | -8.55M | -9.19M | -9.53M | -8.87M |
| EBITDA | -132.72M | -156.27M | -277.76M | -169.81M | -122.13M | -87.82M |
| Net Income | -159.44M | -171.44M | -285.52M | -179.67M | -130.27M | -96.70M |
Balance Sheet | ||||||
| Total Assets | 811.18M | 769.35M | 796.34M | 765.26M | 585.43M | 622.90M |
| Cash, Cash Equivalents and Short-Term Investments | 179.91M | 153.75M | 208.24M | 166.30M | 120.17M | 271.88M |
| Total Debt | 147.30M | 170.11M | 128.22M | 36.81M | 2.13M | 3.23M |
| Total Liabilities | 173.68M | 164.70M | 173.25M | 71.85M | 29.41M | 31.15M |
| Stockholders Equity | 637.50M | 604.65M | 623.10M | 693.41M | 556.02M | 591.75M |
Cash Flow | ||||||
| Free Cash Flow | -161.72M | -222.35M | -264.51M | -257.38M | -238.47M | -147.57M |
| Operating Cash Flow | -150.34M | -193.16M | -222.37M | -203.28M | -110.18M | -51.61M |
| Investing Cash Flow | -19.73M | -29.19M | -42.14M | -65.88M | -135.34M | -105.82M |
| Financing Cash Flow | 276.11M | 168.29M | 306.11M | 315.59M | 93.81M | 103.71M |
Xspray Pharma AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | kr35.55B | 51.54 | 15.54% | ― | <0.01% | -6.75% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | kr201.11M | -4.07 | -13.41% | ― | -68.66% | -137.27% | |
48 Neutral | kr91.02M | -2.42 | -106.23% | ― | -97.37% | 25.28% | |
46 Neutral | kr3.07B | -5.68 | -53.71% | ― | -48.40% | -1.06% | |
41 Neutral | kr477.96M | -2.61 | -26.00% | ― | ― | 44.46% |
* Healthcare Sector Average
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Xspray Pharma AB Corporate Events
Xspray Pharma Schedules Call After FDA Response on Lead Cancer Drug Dasynoc
Aug 19, 2026
Xspray Pharma has called a conference call for investors, analysts and media after receiving a Complete Response Letter from the U.S. Food and Drug Administration regarding its New Drug Application for lead drug candidate Dasynoc. Chief executive ...
Xspray Pharma Gets FDA Complete Response Letter on Dasynoc, Speeds Manufacturing for 2026 Resubmission
Aug 19, 2026
Xspray Pharma has received a Complete Response Letter from the FDA for its lead oncology candidate Dasynoc, with the agency’s concerns focused on Good Manufacturing Practice observations and the need for additional commercial-scale batch dat...
Xspray Pharma Bolsters Finances as FDA Decisions Loom for Nilopki and Dasynoc
Aug 5, 2026
Xspray Pharma reported another loss-making quarter in Q2 2026 with no net sales, but improved earnings before tax compared with the prior year and a strengthened balance sheet, as cash and cash equivalents rose to SEK 179.9 million. Operating cash...
Xspray Pharma Advances FDA Reviews for Nilopki and Dasynoc Amid Manufacturing Checks
Jun 26, 2026
Xspray Pharma has provided a regulatory update on its U.S. product candidates Nilopki and Dasynoc as they progress through FDA review. The company is working to resolve issues raised in a recent Complete Response Letter for Nilopki and reports tha...
Xspray Pharma Schedules Investor Call After FDA Letter on Nilopki
Jun 5, 2026
Xspray Pharma will host an English-language conference call on June 8, 2026, to address the complete response letter it has received from the U.S. Food and Drug Administration regarding its cancer drug candidate Nilopki. The call, led by CEO Blake...
Xspray Pharma Hit by FDA Setback on Nilopki but Keeps HyNap Strategy on Track
Jun 4, 2026
Xspray Pharma has received a Complete Response Letter from the U.S. Food and Drug Administration for its New Drug Application for Nilopki, an optimized formulation of nilotinib for chronic myeloid leukemia. The FDA cited the need for a clearer one...
Xspray Pharma Staff Fully Take Up Warrants as Key U.S. Oncology Launches Near
Jun 3, 2026
Xspray Pharma has secured full employee participation in its two market-priced long-term incentive programs, LTIP 2025/2028 and LTIP 2026/2029, with all offered warrants and stock options taken up at subscription prices nearly double the current s...
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.