Annuncio • Apr 25
Circio Holding ASA has withdrawn its Follow-on Equity Offering in the amount of NOK 82.49999 million. Circio Holding ASA has withdrawn its Follow-on Equity Offering in the amount of NOK 82.49999 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,638,888
Price\Range: NOK 10.8
Transaction Features: Rights Offering Annuncio • Apr 08
Circio Holding ASA has filed a Follow-on Equity Offering in the amount of NOK 82.49999 million. Circio Holding ASA has filed a Follow-on Equity Offering in the amount of NOK 82.49999 million.
Security Name: Share
Security Type: Common Stock
Securities Offered: 7,638,888
Price\Range: NOK 10.8
Transaction Features: Rights Offering New Risk • Mar 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-kr12m). Shareholders have been substantially diluted in the past year (163% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Currently unprofitable and not forecast to become profitable next year (kr23m net loss next year). Annuncio • Jan 30
Circio Holding ASA has completed a Follow-on Equity Offering in the amount of NOK 50 million. Circio Holding ASA has completed a Follow-on Equity Offering in the amount of NOK 50 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 48,200,000
Price\Range: NOK 1
Security Features: Attached Warrants
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,800,000
Price\Range: NOK 1
Security Features: Attached Warrants
Transaction Features: Regulation S; Rights Offering Recent Insider Transactions Derivative • Jan 23
Independent Non-Executive Director exercised options to buy kr66k worth of stock. On the 21st of January, Diane Mellett exercised options to buy 60k shares at a strike price of around kr1.00, costing a total of kr60k. This transaction amounted to 31% of their direct individual holding at the time of the trade. Since June 2025, Diane has owned 193.64k shares directly. Company insiders have collectively bought kr196k more than they sold, via options and on-market transactions, in the last 12 months. Annuncio • Dec 09
Circio Holding ASA has filed a Follow-on Equity Offering in the amount of NOK 50 million. Circio Holding ASA has filed a Follow-on Equity Offering in the amount of NOK 50 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,000,000
Price\Range: NOK 1
Security Features: Attached Warrants
Transaction Features: Rights Offering New Risk • Oct 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 29% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Negative equity (-kr12m). Shareholders have been substantially diluted in the past year (344% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (kr150.2m market cap, or US$15.1m). New Risk • May 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (15% average weekly change). Negative equity (-kr13m). Shareholders have been substantially diluted in the past year (over 10x increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (kr71.1m market cap, or US$7.00m). New Risk • Apr 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Norwegian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Negative equity (-kr13m). Shareholders have been substantially diluted in the past year (over 9x increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (kr52.3m market cap, or US$4.91m). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). New Risk • Mar 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Negative equity (-kr43m). Shareholders have been substantially diluted in the past year (over 9x increase in shares outstanding). Revenue is less than US$1m (kr123k revenue, or US$12k). Market cap is less than US$10m (kr44.6m market cap, or US$4.19m). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Recent Insider Transactions Derivative • Dec 07
Chief Executive Officer exercised options to buy kr106k worth of stock. On the 5th of December, Erik Wiklund exercised options to buy 140k shares at a strike price of around kr0.60, costing a total of kr84k. This transaction amounted to 98% of their direct individual holding at the time of the trade. Since June 2024, Erik's direct individual holding has increased from 3.33k shares to 143.73k. Company insiders have collectively bought kr2.2m more than they sold, via options and on-market transactions, in the last 12 months. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment deteriorates as stock falls 38% After last week's 38% share price decline to kr1.06, the stock trades at a forward P/E ratio of 8x. Average trailing P/E is 24x in the Biotechs industry in Europe. Total loss to shareholders of 99% over the past three years. Annuncio • Oct 24
Circio Holding ASA Presents Circvec Circular RNA in Vivo Expression Proof-Of-Concept Data At ESGCT 2024 Annual Meeting Circio Holding ASA announced the publication of new, strong and statistically significant circVec circular RNA in vivo expression proof-of-concept data, presented both in the form of a poster and oral presentation by CTO, Dr. Thomas B Hansen, at the European Society of Cell and Gene Therapy (ESGCT) annual meeting 2024. In the ESGCT presentation, Circio showed the evolution and improvements of the circVec platform from the initial circVec 1.0 design to the current generation 2.1. Long-term in vivo experiments have now demonstrated that circVec 2.1 robustly outperforms classical mRNA-based expression over time, offering enhanced durability that reaches up to 15-fold higher reporter signals in mouse models. Additionally, a machine-learning approach to codon optimization has generated a novel circVec 2.2 design, delivering a further 2-4-fold increase in protein yield. Circio is currently testing the performance of circVec 2.1 and 2.2 in both viral and DNA vector systems in multiple tissues and disease settings in vivo. These data will guide future development and partnering strategy for the circVec platform. New Risk • Sep 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 128% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Negative equity (-kr43m). Earnings are forecast to decline by an average of 128% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (242% increase in shares outstanding). Revenue is less than US$1m (kr123k revenue, or US$12k). Market cap is less than US$10m (kr17.2m market cap, or US$1.63m). Minor Risk Share price has been volatile over the past 3 months (9.6% average weekly change). Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to kr1.06, the stock trades at a forward P/E ratio of 1x. Average trailing P/E is 26x in the Biotechs industry in Europe. Total loss to shareholders of 99% over the past three years. New Risk • Aug 30
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Negative equity (-kr43m). Shareholders have been substantially diluted in the past year (264% increase in shares outstanding). Revenue is less than US$1m (kr123k revenue, or US$12k). Market cap is less than US$10m (kr33.0m market cap, or US$3.13m). Minor Risk Share price has been volatile over the past 3 months (8.7% average weekly change). Annuncio • Jun 18
Circio Announces Strengthened in Vivo Data and Enhanced Circvec 2.2 Design Circio Holding ASA announced updated in vivo data. This new data demonstrates a substantial durability advantage of Circio's circVec technology over conventional mRNA expression. In addition, Circio has undertaken sequence optimization resulting in a new and enhanced circVec 2.2 design. In parallel to the in vivo characterization, Circio has tested and incorporated further features into the circVec platform. A dual-function `remove-&-replace' concept has been designed and validated in vitro for Alpha-1-antitrypsin deficiency (AATD). This concept has the ability to both replace functional AAT protein and remove the disease variant. AATD is a genetic disease that causes severe symptoms in the lung and liver. There are currently no satisfactory therapeutic options available, and AATD represents a major unmet medical need with over 200,000 patients affected in the USA and EU. New Risk • Jun 12
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 66% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (42% average weekly change). Negative equity (-kr96m). Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m (kr123k revenue, or US$12k). Market cap is less than US$10m (kr27.3m market cap, or US$2.56m). Annuncio • Apr 18
Circio Holding ASA has filed a Follow-on Equity Offering in the amount of NOK 60 million. Circio Holding ASA has filed a Follow-on Equity Offering in the amount of NOK 60 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Security Name: Ordinary Shares
Security Type: Common Stock
Transaction Features: Rights Offering Annuncio • Apr 17
Circio Announces in Vivo Proof-Of-Concept for Its circVec circular RNA Platform Technology and Reinforced Gene Therapy Focus Circio Holding ASA announces that it has established technical in vivo proof-of-concept for its proprietary circVec circular RNA platform by demonstrating statistically significant improvement in durability over mRNA-based expression. The circVec technology has broad potential, particularly to enhance the potency and reduce cost of current gold-standard gene therapy, and the R&D strategy is centered on this rapidly expanding therapeutic area. In parallel to the in vivo characterization, Circio has tested and incorporated further features into the circVec platform. A dual-function 'remove-&-replace' concept has been designed and validated in vitro for Alpha-1-antitrypsin deficiency (AATD), with the ability to both replace functional AAT protein and remove the disease variant. This genetic disease causes severe symptoms in the lung and liver, and there are currently no satisfactory therapeutic options available. AATD represents a major unmet medical need and there are over 200,000 patients affected in the USA and EU. To Circio´s knowledge, circVec 2.1 far exceeds other known intra-cellular circRNA-based expression systems, both in terms of circRNA biogenesis efficiency and protein yield. The platform still has further potential, and Circio is continuously improving the technology towards circVec 3.0 and beyond. The platform is protected by deep internal expertise and know-how, with three patents protecting the core technological features filed to date, and additional applications in progress. Breakeven Date Change • Apr 04
Forecast breakeven date pushed back to 2026 The 2 analysts covering Circio Holding previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of kr198.0m in 2026. Average annual earnings growth of 88% is required to achieve expected profit on schedule. Price Target Changed • Mar 28
Price target decreased by 32% to kr48.00 Down from kr70.50, the current price target is an average from 3 analysts. New target price is 700% above last closing price of kr6.00. Stock is down 70% over the past year. The company is forecast to post a net loss per share of kr10.56 next year compared to a net loss per share of kr68.92 last year. New Risk • Mar 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr115m free cash flow). Share price has been highly volatile over the past 3 months (10% average weekly change). Negative equity (-kr72m). Revenue is less than US$1m (kr10m revenue, or US$930k). Market cap is less than US$10m (kr49.4m market cap, or US$4.60m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (21% increase in shares outstanding). New Risk • Mar 11
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr115m free cash flow). Negative equity (-kr72m). Revenue is less than US$1m (kr10m revenue, or US$959k). Market cap is less than US$10m (kr44.7m market cap, or US$4.28m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (9.8% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). Price Target Changed • Mar 06
Price target increased by 60% to kr120 Up from kr75.00, the current price target is provided by 1 analyst. New target price is 1,578% above last closing price of kr7.15. Stock is down 68% over the past year. The company is forecast to post a net loss per share of kr16.50 next year compared to a net loss per share of kr68.92 last year. Annuncio • Feb 01
Circio Holding ASA Announces Dosing of First Patient in the Collaborative Phase 2 Trial Sponsored by Georgetown University Circio Holding ASA announced that the first patient has been dosed in the collaborative phase 2 trial sponsored by Georgetown University. In this study, mutant RAS cancer vaccine TG01 is being tested in combination with daratumumab (anti-CD38, Janssen) and nivolumab (anti-PD1, BMS) in patients with RAS-mutated pancreatic cancer (PDAC) and patients with non-small cell lung cancer (NSCLC). Mutations in the RAS-family of genes are a major cause of cancer and found in over 90% of PDAC and 30% of NSCLC cancer patients. RAS-mutated cancers typically have poor prognosis with few targeted treatment alternatives, and the medical need for novel therapeutic options remains high. To further study this unmet medical need, a phase 2 trial has been initiated to test the combination of daratumumab (Janssen), nivolumab (BMS) and TG01 in advanced PDAC and anti-PD1 resistant NSCLC. The study will enroll 54 KRAS-mutated patients in total, 27 immunotherapy-naive PDAC patients and 27 NSCLC patients who have progressed on prior anti-PD1 therapy. Annuncio • Dec 12
IOVaxis Therapeutics Files Updated TG01 Investigational New Drug Application with the Chinese National Medical Products Administration Circio Holding ASA announced that partner IOVaxis Therapeutics of Nantong, China, has filed the updated TG01 investigational new drug (IND) application with the Chinese National Medical Products Administration (NMPA), with an expected review period of sixty days. IOVaxis has an exclusive option agreement to license mutant RAS cancer vaccines TG01 and TG02 for China, Hong Kong, Macau, and Singapore. Within two weeks of TG01 IND approval by the NMPA, IOVaxis may exercise its exclusive license option and trigger a USD 3 million milestone payment to Circio. The NMPA requested additional pre-clinical characterization of TG01 following review of the initial TG01 IND filing in 2021. The requested studies have now been performed and included in the resubmitted IND-package. The expected response time is sixty days from the submission date. Following IND-approval, IOVaxis may exercise the exclusive license option for TG01 and TG02 within 14 days. Annuncio • Dec 07
Circio Holding ASA Announces Completion of Planned Safety Review and Opening for Full Enrollment of TG01 Study At Oslo University Hospital Circio Holding ASA announced that mutant RAS cancer vaccine TG01 adjuvanted by QS-21 STIMULON has passed the planned safety cohort review without any concerns in the multiple myeloma trial at Oslo University Hospital (OUS). The study has now opened for full enrollment of twenty patients in total. In this phase 1 clinical trial, TG01 is being tested as a monotherapy in multiple myeloma in a clinical collaboration between OUS and Circio. The study is led by multiple myeloma expert Dr. Fredrik Schjesvold with OUS as the study sponsor. Circio provides TG01 drug supply, scientific support and a financial contribution. New Risk • Oct 18
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr115m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr115m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-kr72m). Revenue is less than US$1m (kr10m revenue, or US$912k). Market cap is less than US$10m (kr68.4m market cap, or US$6.24m). Minor Risk Shareholders have been diluted in the past year (14% increase in shares outstanding). New Risk • Aug 24
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr106.1m (US$9.93m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Revenue is less than US$1m (kr10m revenue, or US$936k). Market cap is less than US$10m (kr106.1m market cap, or US$9.93m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr114m). Shareholders have been diluted in the past year (7.2% increase in shares outstanding). Price Target Changed • Jun 06
Price target increased by 14% to kr4.00 Up from kr3.50, the current price target is provided by 1 analyst. New target price is 684% above last closing price of kr0.51. Stock is down 59% over the past year. The company is forecast to post a net loss per share of kr0.55 next year compared to a net loss per share of kr2.30 last year. Breakeven Date Change • Apr 18
Forecast to breakeven in 2024 The analyst covering Targovax expects the company to break even for the first time. New forecast suggests losses will reduce by 70% to 2023. The company is expected to make a profit of kr74.7m in 2024. Average annual earnings growth of 94% is required to achieve expected profit on schedule. Breakeven Date Change • Mar 09
Forecast to breakeven in 2024 The analyst covering Targovax expects the company to break even for the first time. New forecast suggests the company will make a profit of kr74.7m in 2024. Average annual earnings growth of 48% is required to achieve expected profit on schedule. Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Director Thomas Falck was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Breakeven Date Change • Aug 23
No longer forecast to breakeven The 2 analysts covering Targovax no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of kr14.7m in 2024. New consensus forecast suggests the company will make a loss of kr165.3m in 2024. Price Target Changed • May 31
Price target decreased to kr3.30 Down from kr3.75, the current price target is an average from 2 analysts. New target price is 136% above last closing price of kr1.40. Stock is down 82% over the past year. The company is forecast to post a net loss per share of kr0.59 next year compared to a net loss per share of kr1.10 last year. Price Target Changed • Apr 27
Price target decreased to kr3.75 Down from kr7.50, the current price target is an average from 2 analysts. New target price is 112% above last closing price of kr1.77. Stock is down 78% over the past year. The company is forecast to post a net loss per share of kr0.59 next year compared to a net loss per share of kr1.10 last year. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Sonia Quaratino was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Breakeven Date Change • Mar 12
Forecast to breakeven in 2024 The 2 analysts covering Targovax expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of kr14.7m in 2024. Average annual earnings growth of 20% is required to achieve expected profit on schedule. Breakeven Date Change • Feb 19
Forecast to breakeven in 2024 The 2 analysts covering Targovax expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of kr15.0m in 2024. Average annual earnings growth of 11% is required to achieve expected profit on schedule. Recent Insider Transactions • Dec 17
Chief Executive Officer recently bought kr201k worth of stock On the 16th of December, Erik Wiklund bought around 100k shares on-market at roughly kr2.01 per share. This was the largest purchase by an insider in the last 3 months. This was Erik's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Dec 12
Independent Director exercised options to buy kr204k worth of stock. On the 6th of December, Robert Burns exercised options to buy 101k shares at a strike price of around kr1.72, costing a total of kr174k. This transaction amounted to 118% of their direct individual holding at the time of the trade. Since December 2020, Robert's direct individual holding has increased from 86.02k shares to 187.10k. Company insiders have collectively bought kr263k more than they sold, via options and on-market transactions, in the last 12 months. Executive Departure • Oct 07
Chief Financial Officer Torbjørn Furuseth has left the company On the 30th of September, Torbjørn Furuseth's tenure as Chief Financial Officer ended after 3.0 years in the role. As of June 2021, Torbjørn still personally held only 15.00k shares (kr129k worth at the time). Torbjørn is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.08 years. Price Target Changed • Aug 19
Price target decreased to kr13.83 Down from kr15.67, the current price target is an average from 3 analysts. New target price is 110% above last closing price of kr6.58. Major Estimate Revision • Feb 27
Analysts update estimates The 2021 consensus revenue estimate was lowered from kr6.60m to kr400.0k. Earnings per share (EPS) saw an improvement, with analysts raising their estimates from -kr1.45 to -kr1.36 for the same period. The Biotechs industry in Norway is expected to see an average net income growth of 8.7% next year. The consensus price target of kr16.00 was unchanged from the last update. Share price stayed mostly flat at kr8.94 over the past week. Analyst Estimate Surprise Post Earnings • Feb 20
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 87%. Earnings per share (EPS) exceeded analyst estimates by 4.5%. Over the next year, revenue is forecast to grow 958%, compared to a 2,476% growth forecast for the Biotechs industry in Norway. Is New 90 Day High Low • Dec 23
New 90-day high: kr10.90 The company is up 40% from its price of kr7.80 on 24 September 2020. The Norwegian market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Biotechs industry, which is up 46% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Recent Insider Transactions • Dec 09
Chief Scientific Officer recently bought kr100k worth of stock On the 2nd of December, Victor Levitsky bought around 10k shares on-market at roughly kr10.00 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Is New 90 Day High Low • Dec 04
New 90-day high: kr9.50 The company is up 45% from its price of kr6.57 on 04 September 2020. The Norwegian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 29% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Recent Insider Transactions • Dec 04
Chief Scientific Officer recently bought kr100k worth of stock On the 2nd of December, Victor Levitsky bought around 10k shares on-market at roughly kr10.00 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Major Estimate Revision • Nov 12
Analysts increase revenue estimates to kr7.28m The 2020 consensus revenue estimate increased from kr4.98m. Earning per share (EPS) estimate also saw an improvement, with analysts raising their estimates from -kr1.73 to -kr1.31 for the same period. The Biotechs industry in Norway is expected to see an average net income growth of 9.9% next year. The consensus price target was lowered from kr19.00 to kr16.50. Share price stayed mostly flat at kr6.80 over the past week. Analyst Estimate Surprise Post Earnings • Nov 07
Earnings miss expectations Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 27%. Over the next year, revenue is forecast to grow 116%, compared to a 362% growth forecast for the Biotechs industry in Norway. Is New 90 Day High Low • Oct 29
New 90-day low: kr5.97 The company is down 7.0% from its price of kr6.40 on 30 July 2020. The Norwegian market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Sep 24
New 90-day high: kr8.05 The company is up 10.0% from its price of kr7.29 on 26 June 2020. The Norwegian market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. 
