Formycon（0W4N）株式概要フォーミコン社はバイオテクノロジー企業で、ドイツとスイスでバイオシミラー医薬品の開発を行っている。 詳細0W4N ファンダメンタル分析スノーフレーク・スコア評価4/6将来の成長5/6過去の実績0/6財務の健全性4/6配当金0/6報酬当社が推定した公正価値より57.6%で取引されている 収益は年間117.68%増加すると予測されています リスク分析リスクチェックの結果、0W4N 、リスクは検出されなかった。すべてのリスクチェックを見る0W4N Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.NEW466,074 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINRODA466,074 investors already sharing narrativesYour Fair Value€Current Price€19.2842.9% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-170m177m2016201920222025202620282031Revenue €177.2mEarnings €31.5mAdvancedSet Fair ValueView all narrativesFormycon AG 競合他社Scancell HoldingsSymbol: AIM:SCLPMarket cap: UK£117.6mOxford BiomedicaSymbol: LSE:OXBMarket cap: UK£636.7mBioventixSymbol: AIM:BVXPMarket cap: UK£91.4mGenusSymbol: LSE:GNSMarket cap: UK£1.5b価格と性能株価の高値、安値、推移の概要Formycon過去の株価現在の株価€19.2852週高値€26.8552週安値€15.90ベータ0.721ヶ月の変化2.66%3ヶ月変化-5.26%1年変化-21.15%3年間の変化-68.39%5年間の変化-62.62%IPOからの変化-41.75%最新ニュースお知らせ • May 30Formycon Ag Confirms Earnings Guidance for the Fiscal Year 2026Formycon AG confirmed earnings guidance for the fiscal year 2026. For the financial year 2026, the Formycon Group expects revenue to increase to a range of €60.0 million and €70.0 million.Reported Earnings • May 29First quarter 2026 earnings released: €0.85 loss per share (vs €1.53 loss in 1Q 2025)First quarter 2026 results: €0.85 loss per share (improved from €1.53 loss in 1Q 2025). Revenue: €13.1m (up 191% from 1Q 2025). Net loss: €15.0m (loss narrowed 45% from 1Q 2025). Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 6.7% decline forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings.New Risk • May 12New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British 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. This is currently the only risk that has been identified for the company.お知らせ • May 05Formycon AG, Annual General Meeting, Jun 10, 2026Formycon AG, Annual General Meeting, Jun 10, 2026, at 10:00 W. Europe Standard Time.Reported Earnings • Apr 24Full year 2025 earnings released: €3.66 loss per share (vs €7.19 loss in FY 2024)Full year 2025 results: €3.66 loss per share (improved from €7.19 loss in FY 2024). Revenue: €44.5m (down 36% from FY 2024). Net loss: €64.7m (loss narrowed 49% from FY 2024). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 5.1% decline forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance.お知らせ • Apr 16Formycon AG to Report Fiscal Year 2025 Results on Apr 22, 2026Formycon AG announced that they will report fiscal year 2025 results at 9:00 AM, Central European Standard Time on Apr 22, 2026最新情報をもっと見るRecent updatesお知らせ • May 30Formycon Ag Confirms Earnings Guidance for the Fiscal Year 2026Formycon AG confirmed earnings guidance for the fiscal year 2026. For the financial year 2026, the Formycon Group expects revenue to increase to a range of €60.0 million and €70.0 million.Reported Earnings • May 29First quarter 2026 earnings released: €0.85 loss per share (vs €1.53 loss in 1Q 2025)First quarter 2026 results: €0.85 loss per share (improved from €1.53 loss in 1Q 2025). Revenue: €13.1m (up 191% from 1Q 2025). Net loss: €15.0m (loss narrowed 45% from 1Q 2025). Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 6.7% decline forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings.New Risk • May 12New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British 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. This is currently the only risk that has been identified for the company.お知らせ • May 05Formycon AG, Annual General Meeting, Jun 10, 2026Formycon AG, Annual General Meeting, Jun 10, 2026, at 10:00 W. Europe Standard Time.Reported Earnings • Apr 24Full year 2025 earnings released: €3.66 loss per share (vs €7.19 loss in FY 2024)Full year 2025 results: €3.66 loss per share (improved from €7.19 loss in FY 2024). Revenue: €44.5m (down 36% from FY 2024). Net loss: €64.7m (loss narrowed 49% from FY 2024). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 5.1% decline forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance.お知らせ • Apr 16Formycon AG to Report Fiscal Year 2025 Results on Apr 22, 2026Formycon AG announced that they will report fiscal year 2025 results at 9:00 AM, Central European Standard Time on Apr 22, 2026New Risk • Mar 20New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.4% 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. This is currently the only risk that has been identified for the company.Buy Or Sell Opportunity • Feb 28Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.8% to €22.70. The fair value is estimated to be €28.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 61% in a year. Earnings are forecast to grow by 91% in the next year.Buy Or Sell Opportunity • Feb 05Now 21% undervaluedOver the last 90 days, the stock has risen 19% to €22.80. The fair value is estimated to be €28.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 61% in a year. Earnings are forecast to grow by 91% in the next year.Buy Or Sell Opportunity • Jan 19Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.7% to €23.35. The fair value is estimated to be €29.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 61% in a year. Earnings are forecast to grow by 91% in the next year.お知らせ • Dec 30+ 3 more updatesFormycon AG to Report Fiscal Year 2025 Results on Mar 26, 2026Formycon AG announced that they will report fiscal year 2025 results on Mar 26, 2026New Risk • Nov 20New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €170m Forecast net loss in 2 years: €560k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€560k net loss in 2 years). Share price has been volatile over the past 3 months (7.3% average weekly change).New Risk • Nov 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.0% 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. This is currently the only risk that has been identified for the company.New Risk • Sep 03New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 6.9% 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 Risk Less than 1 year of cash runway based on free cash flow trend (-€22m free cash flow). Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change).New Risk • Aug 20New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€22m 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. This is currently the only risk that has been identified for the company.Reported Earnings • Aug 19First half 2025 earnings released: €3.07 loss per share (vs €0.58 loss in 1H 2024)First half 2025 results: €3.07 loss per share (further deteriorated from €0.58 loss in 1H 2024). Revenue: €9.00m (down 67% from 1H 2024). Net loss: €54.2m (loss widened 437% from 1H 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance.お知らせ • Jul 11Formycon AG Completes Patient Enrollment for the Clinical Development of Its Keytruda®? Biosimilar Candidate FYB206Formycon AG announced that the patient enrollment for the clinical PK study Dahlia has been successfully completed with a total of 96 participants (Last Patient-In). The Dahlia study, which was launched in June 2024 in selected Southeastern and Eastern European study centers, compares the pharmacokinetics, safety and tolerability of FYB206 with the immuno-oncology blockbuster drug Keytruda®?2. At the end of 2024, Formycon submitted a streamlined clinical strategy to the U.S. Food and Drug Administration (FDA) with the intention to demonstrate the therapeutic comparability of FYB206 With the reference drug Keytruda®? based on comprehensive analytical data and data from the PK study (Dahlia). Following a positive response from the FDA, the company decided in February 2025 to discontinue recruitment for the already-started Phase III trial. This decision accelerates the development of the biosimilar and at the same time significantly reduces the related investments over the coming years. The treatment of patients already enrolled in the Phase III trial has subsequently been continued with the locally available Keytruda®? outside the trial. With streamlined clinical development program for FYB206, have secured a leading role among the developers of a pembrolizumab biosimilar. This is further underlined by the efficient and reliable execution of the Dahlia PK study. The first patients in the Dahlia trial have already completed all 17 treatment cycles. therefore currently expect to receive the results of the study endpoint in the first quarter of 2026.お知らせ • Jun 20Formycon Ag Elects Graham Keith Dixon as A New Member of the Supervisory BoardFormycon AG announced that Graham Keith Dixon elected as a new member of the Supervisory Board.お知らせ • May 13Formycon AG Provides Earnings Guidance for the Year 2025Formycon AG provided earnings guidance for the year 2025. The company expects Revenue to be €55.0 million to €65.0 million.お知らせ • May 09Formycon AG, Annual General Meeting, Jun 18, 2025Formycon AG, Annual General Meeting, Jun 18, 2025, at 11:00 W. Europe Standard Time.Reported Earnings • Mar 30Full year 2024 earnings released: €7.19 loss per share (vs €4.76 profit in FY 2023)Full year 2024 results: €7.19 loss per share (down from €4.76 profit in FY 2023). Revenue: €69.7m (down 10% from FY 2023). Net loss: €125.7m (down 266% from profit in FY 2023). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings.お知らせ • Mar 28Formycon AG Provides Earnings Guidance for the Year 2025Formycon AG provided earnings guidance for the year 2025. For the year, the company expected revenue to be EUR 55.0 million to EUR 65.0 million.お知らせ • Mar 04Fresenius Kabi Continues Growth of Biosimilars Portfolio with the U.S. Availability of Otulfi®? (Ustekinumab-Aauz)Fresenius Kabi and Formycon AG announced that the ustekinumab biosimilarOtulfi®? (ustekinumab-aauz) developed by Formycon AG, is now available in the United States. The development and commercialization of the ustekinumib biosimilar is the first biosimilar product launched in the U.S. from the partnership between Fresenius and Formycon AG. The drug received FDA approval in September 2024. Otulfi in a 45 mg/0.5 mL single-dose vial for subcutaneous injection is expected to receive FDA approval in the first half of 2025. The FDA approval of Otulfi (ustekinumab -aauz) was based on a thorough evaluation of a comprehensive data package including analytical, pre-clinical, clinical and manufacturing data. Otulfi was approved for both subcutaneous and intravenous formulations which will offer a comprehensive, alternative treatment solution for health care professionals and patients treated with Otulfi in the U.S. Otulfi (ustek in the U.S. is the fourth Fresenius biosimilar commercialized in the U.S., following the approvals and launches of Idacio®? (adalimumab-aacf), Tyenne®? (tocilizumab-aazg) and Stimufend®? (pegfilgrastim-fpgk). Serious infections requiring hospitalization, or otherwise clinically significant infections, reported in clinical trials included the following: Plaque psoriasis: diverticulitis, cellulitis, pneumonia, appendicitis, cholecystitis, sepsis, osteomyelitis, viral infections, gastroenteritis, urinary tract infections; Malignancies were reported among subjects who received ustekinumab in clinical trials. Two cases of posterior reversible encephalopathy syndrome (PRES), also known as Reversible Posterior Leukoencephalopathy Syndrome (RPLS), were reported in clinical trials. With leading market positions in Clinical Nutrition, a broad portfolio of enteral and parenteral products makes a distinct difference in patients' nutritional status - notably as the only corporation offering both product groups. With Vision 2026, as part of the #FutureFresenius strategy, the company is developing, producing, and selling new products and technologies and aspires to expand its position as a leading global provider of therapies, improve patient care, generate sustainable value for stakeholders - shaping the future of health care. The company focuses on therapies in ophthalmology, immunology, immuno-oncology and other key disease areas, covering almost the entire value chain from technical development through clinical trials to approval by the regulatory authorities. Two further biosimilars, FYB202/ustekinumab and FYB203/aflibercept, have been approved by the FDA, EMA, and MHRA; Future results could differ materially from those described in the U.S.Valuation Update With 7 Day Price Move • Feb 17Investor sentiment deteriorates as stock falls 36%After last week's 36% share price decline to €33.82, the stock trades at a forward P/E ratio of 781x. Average trailing P/E is 26x in the Biotechs industry in Europe. Total loss to shareholders of 31% over the past three years.お知らせ • Feb 17Formycon AG Announces Decision on Phase III Trial with FYB206 and Provides Update on Potential Need to Adjust the Valuation of FYB202 and FYB201Formycon AG has decided to prematurely terminate the Phase III trial (‘Lotus’) for its biosimilar candidate Fiscal Year B206. Based on an intensive scientific dialogue with the U.S. Food and Drug Administration (FDA), the Executive Board, after careful consideration, has concluded that the continuation of the study is no longer necessary for the development and approval of Fiscal Year B206 in the U.S. The therapeutic comparability of Fiscal Year B206 with the reference drug Keytruda3 can be sufficiently demonstrated using data from the ongoing parallel study in the melanoma indication (‘Dahlia’), combined with a comprehensive analytical program. According to preliminary estimates, discontinuing the Phase III trial could lead to investment savings in the high double-digit million range over the next few years, positively impacting the Company’s cash flow statement and liquidity. In coordination with commercialization partner Fresenius Kabi AG, as part of the imminent market launch of Fiscal Year B202/Otulfi in the U.S., Formycon anticipates that the valuation model and balance sheet measurement for Fiscal Year B202 will need to be reviewed and adjusted due to an emerging, significantly higher-than-expected price discount for biosimilars. Based on preliminary calculations, Formycon currently expects a non-cash impairment requirement in the high double-digit to low triple-digit million range. Due to the increasing price discounts among ranibizumab providers in the U.S., Bioeq AG, the exclusive license holder of Fiscal Year B201/CIMERLI, is currently in discussions with its commercialization partner Sandoz AG regarding the future commercialization strategy for Fiscal Year B201/CIMERLI in the U.S. Based on the status of these discussions, Formycon currently expects that the commercialization of Fiscal Year B201/CIMERLI will likely be temporarily paused. This would result in an extraordinary adjustment to the valuation model and the balance sheet measurement for Fiscal Year B201, as well as the stake in Bioeq AG, amounting to a high single-digit to low double-digit non-cash million figure for the 2024 financial year. In this context, Bioeq AG is exploring alternative commercialization strategies for the U.S. Formycon will provide updates on further developments in due course.New Risk • Jan 21New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.2% 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 Risk High level of non-cash earnings (27% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.2% average weekly change).お知らせ • Jan 21Formycon Receives EU Approval for FYB203 (Aflibercept), A Biosimilar to Eylea, Under the Brand Names Ahzantive and BaiamaFormycon AG received EU approval for FYB203 (aflibercept), a biosimilar to Eylea, under the brand names AHZANTIVE and Baiama and Baiama. In mid-January 2025, Formycon and Teva Pharmaceuticals International GmbH (Teva) signed a licensing agreement for the semi-exclusive commercialization of FYB203 across major parts of Europe and Israel. Concurrently, Formycon has concluded an agreement with Teva for product supply. FYB203 was already approved by the U.S. Food and Drug Administration (FDA) in June 2024. Eylea is a registered trademark of Regeneron Pharmaceuticals Inc. AHZANTIVE is a registered trademark the company, development of the products and the estimates given here. Such known and unknown risks and uncertainties comprise, among others, the research and development, the regulatory approval process, the timing of the actions of regulatory bodies and other governmental authorities, clinical results, changes in laws and regulations, product quality, patient safety, patent litigation, contractual risks and dependencies from third parties. With respect to pipeline products, Formycon AG does not provide any representation, warranties or any other guarantees.お知らせ • Jan 16Formycon AG and Fresenius Kabi Announce MHRA Approval for FYB202/Otulfi (Ustekinumab), Biosimilar to StelaraFormycon AG and its commercialization partner Fresenius Kabi announced that the UK Medicines and Healthcare products Regulatory Agency (MHRA) has approved FYB202/Otulfi (ustekinumab), a biosimilar to Stelara, for the treatment of moderately to severely active Crohn’s disease, moderately to severely active ulcerative colitis, moderate to severe plaque psoriasis and active psoriatic arthritis. The U.S. Food and Drug Administration (FDA) as well as the European Commission had already granted marketing authorization for FYB202 in September 2024, followed by Health Canada’s approval end of December 2024. In February 2023, Formycon and Fresenius Kabi had entered into a global license agreement providing Fresenius Kabi with commercialization rights of FYB202 in key global markets, including the UK. Ustekinumab is a human monoclonal antibody that targets the cytokines interleukin-12 and interleukin-23 which play an important role in inflammatory and immune responses. The approval is based on a thorough evaluation of a comprehensive data package including analytical, pre-clinical, clinical and manufacturing data. FYB202 demonstrated comparable efficacy, safety and pharmacokinetics to the reference drug Stelara in patients with moderate to severe psoriasis vulgaris (plaque psoriasis).Valuation Update With 7 Day Price Move • Jan 07Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €60.00, the stock trades at a forward P/E ratio of 1426x. Average trailing P/E is 29x in the Biotechs industry in Europe. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at €43.32 per share.Buy Or Sell Opportunity • Jan 02Now 24% overvalued after recent price riseOver the last 90 days, the stock has risen 3.8% to €54.70. The fair value is estimated to be €44.07, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 25% per annum. Earnings are also forecast to grow by 23% per annum over the same time period.お知らせ • Jan 02+ 2 more updatesFormycon AG to Report Q1, 2025 Results on May 15, 2025Formycon AG announced that they will report Q1, 2025 results on May 15, 2025お知らせ • Nov 15Formycon AG Appoints Colin Bond as DirectorIn accordance with paragraph 6.4.9 R of the UK Listing Rules, BioPharma Credit PLC, has been informed that Colin Bond, Non-executive Director of the Company, has been appointed as a director of Formycon AG with effect from 1 October 2024.お知らせ • Oct 01Fresenius Kabi and Formycon Receives U.S. FDA Approval for Biosimilar Otulfi (ustekinumab-aauz)Fresenius Kabi and Formycon AG announced that the United States (U.S.) Food and Drug Administration (FDA) has approved Otulfi (ustekinumab-aauz), its ustekinumab biosimilar referencing Stelara(ustekinumab). Otulfi is approved for the treatment of Crohn’s disease, ulcerative colitis, moderate to severe plaque psoriasis and active psoriatic arthritis. Fresenius Kabi is further continuing its momentum, striving at expanding its strong Biopharma platform, which is a substantial cornerstone of #FutureFresenius. In February 2023, Fresenius Kabi and Formycon entered into a global commercialization partnership for the ustekinumab biosimilar candidate covering key global markets. Ustekinumab is a human monoclonal antibody that targets the cytokines interleukin-12 and interleukin-23 which play an important role in inflammatory and immune responses. The FDA approval of Otulfi (ustekinumab-aauz) is based on a thorough evaluation of a comprehensive data package including analytical, pre-clinical, clinical and manufacturing data. Otulfi demonstrated comparable efficacy, safety, pharmacokinetics and immunogenicity to the reference drug Stelara in patients with moderate to severe psoriasis vulgaris (plaque psoriasis). Otulfi was approved for both subcutaneous and intravenous formulations which will offer a comprehensive, alternative treatment solution for health care professionals and patients treated with ustekinumab in the U.S. Otulfi™ is contraindicated in patients with significant hypersensitivity to ustekinumab or to any of the excipients. Otulfi (ustekinumab-aauz) is Fresenius Kabi’s fourth biosimilar granted a marketing authorization in the U.S., following previous approvals of its commercially available biosimilars Idacio (adalimumab-aacf), Tyenne (tocilizumab-aazg) and Stimufend (pegfilgrastim-fpgk). Fresenius Kabi’s growing pipeline of autoimmune and oncology biosimilars has several molecules in early and late-stage development.Reported Earnings • Aug 18First half 2024 earnings released: €0.58 loss per share (vs €0.11 profit in 1H 2023)First half 2024 results: €0.58 loss per share (down from €0.11 profit in 1H 2023). Revenue: €26.9m (down 39% from 1H 2023). Net loss: €10.1m (down €11.9m from profit in 1H 2023). Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.お知らせ • Aug 06Formycon AG to Report First Half, 2024 Results on Aug 13, 2024Formycon AG announced that they will report first half, 2024 results on Aug 13, 2024Buy Or Sell Opportunity • Aug 03Now 24% undervaluedOver the last 90 days, the stock has risen 17% to €49.00. The fair value is estimated to be €64.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 27% per annum. Earnings are also forecast to grow by 20% per annum over the same time period.Valuation Update With 7 Day Price Move • Jun 26Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €55.30, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 28x in the Biotechs industry in Europe. Total loss to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €51.95 per share.Valuation Update With 7 Day Price Move • Jun 06Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €48.90, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 26x in the Biotechs industry in Europe. Total loss to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €25.67 per share.New Risk • Jun 04New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.2% 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 Risk High level of non-cash earnings (24% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Shareholders have been diluted in the past year (10% increase in shares outstanding).お知らせ • May 03Formycon AG to Report Q1, 2024 Results on May 08, 2024Formycon AG announced that they will report Q1, 2024 results on May 08, 2024Reported Earnings • Apr 25Full year 2023 earnings released: EPS: €4.76 (vs €2.62 in FY 2022)Full year 2023 results: EPS: €4.76 (up from €2.62 in FY 2022). Revenue: €77.7m (up 83% from FY 2022). Net income: €75.8m (up 111% from FY 2022). Profit margin: 98% (up from 85% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.お知らせ • Apr 13Formycon AG to Report Fiscal Year 2023 Final Results on Apr 25, 2024Formycon AG announced that they will report fiscal year 2023 final results on Apr 25, 2024New Risk • Apr 01New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 10% This is considered a minor 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. This is currently the only risk that has been identified for the company.Reported Earnings • Sep 08First half 2023 earnings released: EPS: €0.11 (vs €6.51 in 1H 2022)First half 2023 results: EPS: €0.11 (down from €6.51 in 1H 2022). Revenue: €43.8m (up 148% from 1H 2022). Net income: €1.80m (down 98% from 1H 2022). Profit margin: 4.1% (down from 454% in 1H 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Biotechs industry in the United Kingdom.お知らせ • Aug 24Formycon AG to Report First Half, 2023 Results on Aug 30, 2023Formycon AG announced that they will report first half, 2023 results on Aug 30, 2023お知らせ • Jun 29Formycon Announces Submission of the Biologics License Application (Bla) for Fyb203, an Aflibercept Biosimilar Candidate to the U.S. Food and Drug Administration (Fda)Formycon AG nd its license partner Klinge Biopharma GmbH (“Klinge“) announce that the biologics license application (BLA) for FYB203, a biosimilar candidate for Eylea®1 (Active ingredient: Aflibercept) has been submitted to the U.S. Food and Drug Administration („FDA“) in line with the initial schedule. Within 60 days after submission, FDA is expected to decide on whether to accept and to further review the BLA (“file acceptance”). Eylea® is used in the treatment of neovascular age-related macular degeneration (“nAMD”) and other severe retinal diseases. It inhibits vascular endothelial growth factor (“VEGF”), which is responsible for the excessive formation of blood vessels in the retina. With global sales of around USD 9.6 billion[i] Eylea® is currently the top-selling drug in this therapeutic area.Valuation Update With 7 Day Price Move • May 18Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €77.80, the stock trades at a trailing P/E ratio of 34.6x. Average forward P/E is 32x in the Biotechs industry in the United Kingdom. Total returns to shareholders of 9.8% over the past year.Reported Earnings • Apr 30Full year 2022 earnings released: EPS: €2.62 (vs €1.22 loss in FY 2021)Full year 2022 results: EPS: €2.62 (up from €1.22 loss in FY 2021). Revenue: €42.5m (up 15% from FY 2021). Net income: €36.0m (up €49.5m from FY 2021). Profit margin: 85% (up from net loss in FY 2021). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Biotechs industry in the United Kingdom.お知らせ • Feb 03Formycon AG has completed a Follow-on Equity Offering in the amount of €70.07 million.Formycon AG has completed a Follow-on Equity Offering in the amount of €70.07 million. Security Name: Shares Security Type: Common Stock Securities Offered: 910,000 Price\Range: €77 Transaction Features: Rule 144A; Subsequent Direct ListingReported Earnings • Nov 01First half 2022 earnings released: EPS: €6.51 (vs €0.92 loss in 1H 2021)First half 2022 results: EPS: €6.51 (up from €0.92 loss in 1H 2021). Revenue: €17.6m (down 13% from 1H 2021). Net income: €80.0m (up €90.2m from 1H 2021). Revenue is forecast to grow 47% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Biotechs industry in the United Kingdom.Reported Earnings • May 22Full year 2021 earnings released: €1.22 loss per share (vs €0.54 loss in FY 2020)Full year 2021 results: €1.22 loss per share (down from €0.54 loss in FY 2020). Revenue: €37.0m (up 8.0% from FY 2020). Net loss: €13.5m (loss widened 127% from FY 2020). Products in clinical trials Phase III: 2 Over the next year, revenue is forecast to grow 6.6%, compared to a 11% growth forecast for the pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 130 percentage points per year, which is a significant difference in performance.Reported Earnings • Sep 24First half 2021 earnings released: €0.92 loss per share (vs €0.14 loss in 1H 2020)The company reported a soft first half result with increased losses and weaker control over costs, although revenues improved. First half 2021 results: Revenue: €20.3m (up 23% from 1H 2020). Net loss: €10.2m (loss widened €8.79m from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 139 percentage points per year, which is a significant difference in performance.Reported Earnings • May 19Full year 2020 earnings releasedThe company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: €34.6m (up 4.5% from FY 2019). Net loss: €5.93m (loss widened 158% from FY 2019).株主還元0W4NGB BiotechsGB 市場7D3.3%2.6%0.7%1Y-21.1%-10.7%16.3%株主還元を見る業界別リターン: 0W4N過去 1 年間で-10.7 % の収益を上げたUK Biotechs業界を下回りました。リターン対市場: 0W4Nは、過去 1 年間で16.3 % のリターンを上げたUK市場を下回りました。価格変動Is 0W4N's price volatile compared to industry and market?0W4N volatility0W4N Average Weekly Movement4.9%Biotechs Industry Average Movement6.9%Market Average Movement5.0%10% most volatile stocks in GB Market10.4%10% least volatile stocks in GB Market2.6%安定した株価: 0W4N 、 UK市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: 0W4Nの 週次ボラティリティ ( 5% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1999196Stefan Glombitzawww.formycon.comバイオテクノロジー企業のFormycon AGは、ドイツとスイスでバイオシミラー医薬品の開発を行っています。 同社は、新生血管性加齢黄斑変性、糖尿病性黄斑浮腫、脈絡膜新生血管、増殖性糖尿病性網膜症、および黄斑浮腫の治療に用いられるラニビズマブおよびアフリベルセプトを、「Ranivisio」、「Ongavia」、 Cimerli、Ranopto、Uptera、Ravegza」のブランド名に加え、「AHZANTIVE」、「Baiama」、「Fovlya」のブランド名でも提供している。 同社のパイプラインには、クローン病、潰瘍性大腸炎、尋常性乾癬、乾癬性関節炎の治療に用いられるウステキヌマブが含まれており、これらは「Otulf」、「Fymskina」、「Sitovab」のブランド名で販売されている。 また、進行性黒色腫、非小細胞肺がん、喘息、ホジキンリンパ腫、尿路上皮がん、頭頸部腫瘍、鼻ポリープを伴う副鼻腔炎、その他の腫瘍および遺伝性疾患などの免疫腫瘍学領域の治療薬として、ペンブロリズマブを開発しているほか、 さらに、免疫学分野を適応とするFYB208およびFYB209も開発中である。同社は以前はNanohale AGとして知られていたが、2012年にFormycon AGに社名を変更した。Formycon AGは1999年に設立され、ドイツのプラネッグに本社を置いている。もっと見るFormycon AG 基礎のまとめFormycon の収益と売上を時価総額と比較するとどうか。0W4N 基礎統計学時価総額€341.09m収益（TTM）-€25.13m売上高(TTM)€61.24m5.6xP/Sレシオ-13.6xPER（株価収益率0W4N は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計0W4N 損益計算書（TTM）収益€61.24m売上原価€47.27m売上総利益€13.97mその他の費用€39.10m収益-€25.13m直近の収益報告Jun 30, 2026次回決算日Nov 12, 2026一株当たり利益（EPS）-1.42グロス・マージン22.81%純利益率-41.04%有利子負債／自己資本比率0%0W4N の長期的なパフォーマンスは？過去の実績と比較を見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/08/23 02:50終値2026/08/21 00:00収益2026/06/30年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Formycon AG 6 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。12 アナリスト機関Gerhard OrgonasBerenbergBenjamin ThielmannBerenbergSimon ScholesFirst Berlin Equity Research GmbH9 その他のアナリストを表示
お知らせ • May 30Formycon Ag Confirms Earnings Guidance for the Fiscal Year 2026Formycon AG confirmed earnings guidance for the fiscal year 2026. For the financial year 2026, the Formycon Group expects revenue to increase to a range of €60.0 million and €70.0 million.
Reported Earnings • May 29First quarter 2026 earnings released: €0.85 loss per share (vs €1.53 loss in 1Q 2025)First quarter 2026 results: €0.85 loss per share (improved from €1.53 loss in 1Q 2025). Revenue: €13.1m (up 191% from 1Q 2025). Net loss: €15.0m (loss narrowed 45% from 1Q 2025). Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 6.7% decline forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings.
New Risk • May 12New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British 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. This is currently the only risk that has been identified for the company.
お知らせ • May 05Formycon AG, Annual General Meeting, Jun 10, 2026Formycon AG, Annual General Meeting, Jun 10, 2026, at 10:00 W. Europe Standard Time.
Reported Earnings • Apr 24Full year 2025 earnings released: €3.66 loss per share (vs €7.19 loss in FY 2024)Full year 2025 results: €3.66 loss per share (improved from €7.19 loss in FY 2024). Revenue: €44.5m (down 36% from FY 2024). Net loss: €64.7m (loss narrowed 49% from FY 2024). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 5.1% decline forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance.
お知らせ • Apr 16Formycon AG to Report Fiscal Year 2025 Results on Apr 22, 2026Formycon AG announced that they will report fiscal year 2025 results at 9:00 AM, Central European Standard Time on Apr 22, 2026
お知らせ • May 30Formycon Ag Confirms Earnings Guidance for the Fiscal Year 2026Formycon AG confirmed earnings guidance for the fiscal year 2026. For the financial year 2026, the Formycon Group expects revenue to increase to a range of €60.0 million and €70.0 million.
Reported Earnings • May 29First quarter 2026 earnings released: €0.85 loss per share (vs €1.53 loss in 1Q 2025)First quarter 2026 results: €0.85 loss per share (improved from €1.53 loss in 1Q 2025). Revenue: €13.1m (up 191% from 1Q 2025). Net loss: €15.0m (loss narrowed 45% from 1Q 2025). Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 6.7% decline forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings.
New Risk • May 12New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British 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. This is currently the only risk that has been identified for the company.
お知らせ • May 05Formycon AG, Annual General Meeting, Jun 10, 2026Formycon AG, Annual General Meeting, Jun 10, 2026, at 10:00 W. Europe Standard Time.
Reported Earnings • Apr 24Full year 2025 earnings released: €3.66 loss per share (vs €7.19 loss in FY 2024)Full year 2025 results: €3.66 loss per share (improved from €7.19 loss in FY 2024). Revenue: €44.5m (down 36% from FY 2024). Net loss: €64.7m (loss narrowed 49% from FY 2024). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 5.1% decline forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance.
お知らせ • Apr 16Formycon AG to Report Fiscal Year 2025 Results on Apr 22, 2026Formycon AG announced that they will report fiscal year 2025 results at 9:00 AM, Central European Standard Time on Apr 22, 2026
New Risk • Mar 20New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.4% 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. This is currently the only risk that has been identified for the company.
Buy Or Sell Opportunity • Feb 28Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.8% to €22.70. The fair value is estimated to be €28.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 61% in a year. Earnings are forecast to grow by 91% in the next year.
Buy Or Sell Opportunity • Feb 05Now 21% undervaluedOver the last 90 days, the stock has risen 19% to €22.80. The fair value is estimated to be €28.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 61% in a year. Earnings are forecast to grow by 91% in the next year.
Buy Or Sell Opportunity • Jan 19Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.7% to €23.35. The fair value is estimated to be €29.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 61% in a year. Earnings are forecast to grow by 91% in the next year.
お知らせ • Dec 30+ 3 more updatesFormycon AG to Report Fiscal Year 2025 Results on Mar 26, 2026Formycon AG announced that they will report fiscal year 2025 results on Mar 26, 2026
New Risk • Nov 20New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €170m Forecast net loss in 2 years: €560k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€560k net loss in 2 years). Share price has been volatile over the past 3 months (7.3% average weekly change).
New Risk • Nov 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.0% 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. This is currently the only risk that has been identified for the company.
New Risk • Sep 03New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 6.9% 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 Risk Less than 1 year of cash runway based on free cash flow trend (-€22m free cash flow). Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change).
New Risk • Aug 20New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€22m 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. This is currently the only risk that has been identified for the company.
Reported Earnings • Aug 19First half 2025 earnings released: €3.07 loss per share (vs €0.58 loss in 1H 2024)First half 2025 results: €3.07 loss per share (further deteriorated from €0.58 loss in 1H 2024). Revenue: €9.00m (down 67% from 1H 2024). Net loss: €54.2m (loss widened 437% from 1H 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance.
お知らせ • Jul 11Formycon AG Completes Patient Enrollment for the Clinical Development of Its Keytruda®? Biosimilar Candidate FYB206Formycon AG announced that the patient enrollment for the clinical PK study Dahlia has been successfully completed with a total of 96 participants (Last Patient-In). The Dahlia study, which was launched in June 2024 in selected Southeastern and Eastern European study centers, compares the pharmacokinetics, safety and tolerability of FYB206 with the immuno-oncology blockbuster drug Keytruda®?2. At the end of 2024, Formycon submitted a streamlined clinical strategy to the U.S. Food and Drug Administration (FDA) with the intention to demonstrate the therapeutic comparability of FYB206 With the reference drug Keytruda®? based on comprehensive analytical data and data from the PK study (Dahlia). Following a positive response from the FDA, the company decided in February 2025 to discontinue recruitment for the already-started Phase III trial. This decision accelerates the development of the biosimilar and at the same time significantly reduces the related investments over the coming years. The treatment of patients already enrolled in the Phase III trial has subsequently been continued with the locally available Keytruda®? outside the trial. With streamlined clinical development program for FYB206, have secured a leading role among the developers of a pembrolizumab biosimilar. This is further underlined by the efficient and reliable execution of the Dahlia PK study. The first patients in the Dahlia trial have already completed all 17 treatment cycles. therefore currently expect to receive the results of the study endpoint in the first quarter of 2026.
お知らせ • Jun 20Formycon Ag Elects Graham Keith Dixon as A New Member of the Supervisory BoardFormycon AG announced that Graham Keith Dixon elected as a new member of the Supervisory Board.
お知らせ • May 13Formycon AG Provides Earnings Guidance for the Year 2025Formycon AG provided earnings guidance for the year 2025. The company expects Revenue to be €55.0 million to €65.0 million.
お知らせ • May 09Formycon AG, Annual General Meeting, Jun 18, 2025Formycon AG, Annual General Meeting, Jun 18, 2025, at 11:00 W. Europe Standard Time.
Reported Earnings • Mar 30Full year 2024 earnings released: €7.19 loss per share (vs €4.76 profit in FY 2023)Full year 2024 results: €7.19 loss per share (down from €4.76 profit in FY 2023). Revenue: €69.7m (down 10% from FY 2023). Net loss: €125.7m (down 266% from profit in FY 2023). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings.
お知らせ • Mar 28Formycon AG Provides Earnings Guidance for the Year 2025Formycon AG provided earnings guidance for the year 2025. For the year, the company expected revenue to be EUR 55.0 million to EUR 65.0 million.
お知らせ • Mar 04Fresenius Kabi Continues Growth of Biosimilars Portfolio with the U.S. Availability of Otulfi®? (Ustekinumab-Aauz)Fresenius Kabi and Formycon AG announced that the ustekinumab biosimilarOtulfi®? (ustekinumab-aauz) developed by Formycon AG, is now available in the United States. The development and commercialization of the ustekinumib biosimilar is the first biosimilar product launched in the U.S. from the partnership between Fresenius and Formycon AG. The drug received FDA approval in September 2024. Otulfi in a 45 mg/0.5 mL single-dose vial for subcutaneous injection is expected to receive FDA approval in the first half of 2025. The FDA approval of Otulfi (ustekinumab -aauz) was based on a thorough evaluation of a comprehensive data package including analytical, pre-clinical, clinical and manufacturing data. Otulfi was approved for both subcutaneous and intravenous formulations which will offer a comprehensive, alternative treatment solution for health care professionals and patients treated with Otulfi in the U.S. Otulfi (ustek in the U.S. is the fourth Fresenius biosimilar commercialized in the U.S., following the approvals and launches of Idacio®? (adalimumab-aacf), Tyenne®? (tocilizumab-aazg) and Stimufend®? (pegfilgrastim-fpgk). Serious infections requiring hospitalization, or otherwise clinically significant infections, reported in clinical trials included the following: Plaque psoriasis: diverticulitis, cellulitis, pneumonia, appendicitis, cholecystitis, sepsis, osteomyelitis, viral infections, gastroenteritis, urinary tract infections; Malignancies were reported among subjects who received ustekinumab in clinical trials. Two cases of posterior reversible encephalopathy syndrome (PRES), also known as Reversible Posterior Leukoencephalopathy Syndrome (RPLS), were reported in clinical trials. With leading market positions in Clinical Nutrition, a broad portfolio of enteral and parenteral products makes a distinct difference in patients' nutritional status - notably as the only corporation offering both product groups. With Vision 2026, as part of the #FutureFresenius strategy, the company is developing, producing, and selling new products and technologies and aspires to expand its position as a leading global provider of therapies, improve patient care, generate sustainable value for stakeholders - shaping the future of health care. The company focuses on therapies in ophthalmology, immunology, immuno-oncology and other key disease areas, covering almost the entire value chain from technical development through clinical trials to approval by the regulatory authorities. Two further biosimilars, FYB202/ustekinumab and FYB203/aflibercept, have been approved by the FDA, EMA, and MHRA; Future results could differ materially from those described in the U.S.
Valuation Update With 7 Day Price Move • Feb 17Investor sentiment deteriorates as stock falls 36%After last week's 36% share price decline to €33.82, the stock trades at a forward P/E ratio of 781x. Average trailing P/E is 26x in the Biotechs industry in Europe. Total loss to shareholders of 31% over the past three years.
お知らせ • Feb 17Formycon AG Announces Decision on Phase III Trial with FYB206 and Provides Update on Potential Need to Adjust the Valuation of FYB202 and FYB201Formycon AG has decided to prematurely terminate the Phase III trial (‘Lotus’) for its biosimilar candidate Fiscal Year B206. Based on an intensive scientific dialogue with the U.S. Food and Drug Administration (FDA), the Executive Board, after careful consideration, has concluded that the continuation of the study is no longer necessary for the development and approval of Fiscal Year B206 in the U.S. The therapeutic comparability of Fiscal Year B206 with the reference drug Keytruda3 can be sufficiently demonstrated using data from the ongoing parallel study in the melanoma indication (‘Dahlia’), combined with a comprehensive analytical program. According to preliminary estimates, discontinuing the Phase III trial could lead to investment savings in the high double-digit million range over the next few years, positively impacting the Company’s cash flow statement and liquidity. In coordination with commercialization partner Fresenius Kabi AG, as part of the imminent market launch of Fiscal Year B202/Otulfi in the U.S., Formycon anticipates that the valuation model and balance sheet measurement for Fiscal Year B202 will need to be reviewed and adjusted due to an emerging, significantly higher-than-expected price discount for biosimilars. Based on preliminary calculations, Formycon currently expects a non-cash impairment requirement in the high double-digit to low triple-digit million range. Due to the increasing price discounts among ranibizumab providers in the U.S., Bioeq AG, the exclusive license holder of Fiscal Year B201/CIMERLI, is currently in discussions with its commercialization partner Sandoz AG regarding the future commercialization strategy for Fiscal Year B201/CIMERLI in the U.S. Based on the status of these discussions, Formycon currently expects that the commercialization of Fiscal Year B201/CIMERLI will likely be temporarily paused. This would result in an extraordinary adjustment to the valuation model and the balance sheet measurement for Fiscal Year B201, as well as the stake in Bioeq AG, amounting to a high single-digit to low double-digit non-cash million figure for the 2024 financial year. In this context, Bioeq AG is exploring alternative commercialization strategies for the U.S. Formycon will provide updates on further developments in due course.
New Risk • Jan 21New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.2% 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 Risk High level of non-cash earnings (27% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.2% average weekly change).
お知らせ • Jan 21Formycon Receives EU Approval for FYB203 (Aflibercept), A Biosimilar to Eylea, Under the Brand Names Ahzantive and BaiamaFormycon AG received EU approval for FYB203 (aflibercept), a biosimilar to Eylea, under the brand names AHZANTIVE and Baiama and Baiama. In mid-January 2025, Formycon and Teva Pharmaceuticals International GmbH (Teva) signed a licensing agreement for the semi-exclusive commercialization of FYB203 across major parts of Europe and Israel. Concurrently, Formycon has concluded an agreement with Teva for product supply. FYB203 was already approved by the U.S. Food and Drug Administration (FDA) in June 2024. Eylea is a registered trademark of Regeneron Pharmaceuticals Inc. AHZANTIVE is a registered trademark the company, development of the products and the estimates given here. Such known and unknown risks and uncertainties comprise, among others, the research and development, the regulatory approval process, the timing of the actions of regulatory bodies and other governmental authorities, clinical results, changes in laws and regulations, product quality, patient safety, patent litigation, contractual risks and dependencies from third parties. With respect to pipeline products, Formycon AG does not provide any representation, warranties or any other guarantees.
お知らせ • Jan 16Formycon AG and Fresenius Kabi Announce MHRA Approval for FYB202/Otulfi (Ustekinumab), Biosimilar to StelaraFormycon AG and its commercialization partner Fresenius Kabi announced that the UK Medicines and Healthcare products Regulatory Agency (MHRA) has approved FYB202/Otulfi (ustekinumab), a biosimilar to Stelara, for the treatment of moderately to severely active Crohn’s disease, moderately to severely active ulcerative colitis, moderate to severe plaque psoriasis and active psoriatic arthritis. The U.S. Food and Drug Administration (FDA) as well as the European Commission had already granted marketing authorization for FYB202 in September 2024, followed by Health Canada’s approval end of December 2024. In February 2023, Formycon and Fresenius Kabi had entered into a global license agreement providing Fresenius Kabi with commercialization rights of FYB202 in key global markets, including the UK. Ustekinumab is a human monoclonal antibody that targets the cytokines interleukin-12 and interleukin-23 which play an important role in inflammatory and immune responses. The approval is based on a thorough evaluation of a comprehensive data package including analytical, pre-clinical, clinical and manufacturing data. FYB202 demonstrated comparable efficacy, safety and pharmacokinetics to the reference drug Stelara in patients with moderate to severe psoriasis vulgaris (plaque psoriasis).
Valuation Update With 7 Day Price Move • Jan 07Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €60.00, the stock trades at a forward P/E ratio of 1426x. Average trailing P/E is 29x in the Biotechs industry in Europe. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at €43.32 per share.
Buy Or Sell Opportunity • Jan 02Now 24% overvalued after recent price riseOver the last 90 days, the stock has risen 3.8% to €54.70. The fair value is estimated to be €44.07, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 25% per annum. Earnings are also forecast to grow by 23% per annum over the same time period.
お知らせ • Jan 02+ 2 more updatesFormycon AG to Report Q1, 2025 Results on May 15, 2025Formycon AG announced that they will report Q1, 2025 results on May 15, 2025
お知らせ • Nov 15Formycon AG Appoints Colin Bond as DirectorIn accordance with paragraph 6.4.9 R of the UK Listing Rules, BioPharma Credit PLC, has been informed that Colin Bond, Non-executive Director of the Company, has been appointed as a director of Formycon AG with effect from 1 October 2024.
お知らせ • Oct 01Fresenius Kabi and Formycon Receives U.S. FDA Approval for Biosimilar Otulfi (ustekinumab-aauz)Fresenius Kabi and Formycon AG announced that the United States (U.S.) Food and Drug Administration (FDA) has approved Otulfi (ustekinumab-aauz), its ustekinumab biosimilar referencing Stelara(ustekinumab). Otulfi is approved for the treatment of Crohn’s disease, ulcerative colitis, moderate to severe plaque psoriasis and active psoriatic arthritis. Fresenius Kabi is further continuing its momentum, striving at expanding its strong Biopharma platform, which is a substantial cornerstone of #FutureFresenius. In February 2023, Fresenius Kabi and Formycon entered into a global commercialization partnership for the ustekinumab biosimilar candidate covering key global markets. Ustekinumab is a human monoclonal antibody that targets the cytokines interleukin-12 and interleukin-23 which play an important role in inflammatory and immune responses. The FDA approval of Otulfi (ustekinumab-aauz) is based on a thorough evaluation of a comprehensive data package including analytical, pre-clinical, clinical and manufacturing data. Otulfi demonstrated comparable efficacy, safety, pharmacokinetics and immunogenicity to the reference drug Stelara in patients with moderate to severe psoriasis vulgaris (plaque psoriasis). Otulfi was approved for both subcutaneous and intravenous formulations which will offer a comprehensive, alternative treatment solution for health care professionals and patients treated with ustekinumab in the U.S. Otulfi™ is contraindicated in patients with significant hypersensitivity to ustekinumab or to any of the excipients. Otulfi (ustekinumab-aauz) is Fresenius Kabi’s fourth biosimilar granted a marketing authorization in the U.S., following previous approvals of its commercially available biosimilars Idacio (adalimumab-aacf), Tyenne (tocilizumab-aazg) and Stimufend (pegfilgrastim-fpgk). Fresenius Kabi’s growing pipeline of autoimmune and oncology biosimilars has several molecules in early and late-stage development.
Reported Earnings • Aug 18First half 2024 earnings released: €0.58 loss per share (vs €0.11 profit in 1H 2023)First half 2024 results: €0.58 loss per share (down from €0.11 profit in 1H 2023). Revenue: €26.9m (down 39% from 1H 2023). Net loss: €10.1m (down €11.9m from profit in 1H 2023). Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
お知らせ • Aug 06Formycon AG to Report First Half, 2024 Results on Aug 13, 2024Formycon AG announced that they will report first half, 2024 results on Aug 13, 2024
Buy Or Sell Opportunity • Aug 03Now 24% undervaluedOver the last 90 days, the stock has risen 17% to €49.00. The fair value is estimated to be €64.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 27% per annum. Earnings are also forecast to grow by 20% per annum over the same time period.
Valuation Update With 7 Day Price Move • Jun 26Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €55.30, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 28x in the Biotechs industry in Europe. Total loss to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €51.95 per share.
Valuation Update With 7 Day Price Move • Jun 06Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €48.90, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 26x in the Biotechs industry in Europe. Total loss to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €25.67 per share.
New Risk • Jun 04New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.2% 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 Risk High level of non-cash earnings (24% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Shareholders have been diluted in the past year (10% increase in shares outstanding).
お知らせ • May 03Formycon AG to Report Q1, 2024 Results on May 08, 2024Formycon AG announced that they will report Q1, 2024 results on May 08, 2024
Reported Earnings • Apr 25Full year 2023 earnings released: EPS: €4.76 (vs €2.62 in FY 2022)Full year 2023 results: EPS: €4.76 (up from €2.62 in FY 2022). Revenue: €77.7m (up 83% from FY 2022). Net income: €75.8m (up 111% from FY 2022). Profit margin: 98% (up from 85% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Biotechs industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
お知らせ • Apr 13Formycon AG to Report Fiscal Year 2023 Final Results on Apr 25, 2024Formycon AG announced that they will report fiscal year 2023 final results on Apr 25, 2024
New Risk • Apr 01New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 10% This is considered a minor 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. This is currently the only risk that has been identified for the company.
Reported Earnings • Sep 08First half 2023 earnings released: EPS: €0.11 (vs €6.51 in 1H 2022)First half 2023 results: EPS: €0.11 (down from €6.51 in 1H 2022). Revenue: €43.8m (up 148% from 1H 2022). Net income: €1.80m (down 98% from 1H 2022). Profit margin: 4.1% (down from 454% in 1H 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Biotechs industry in the United Kingdom.
お知らせ • Aug 24Formycon AG to Report First Half, 2023 Results on Aug 30, 2023Formycon AG announced that they will report first half, 2023 results on Aug 30, 2023
お知らせ • Jun 29Formycon Announces Submission of the Biologics License Application (Bla) for Fyb203, an Aflibercept Biosimilar Candidate to the U.S. Food and Drug Administration (Fda)Formycon AG nd its license partner Klinge Biopharma GmbH (“Klinge“) announce that the biologics license application (BLA) for FYB203, a biosimilar candidate for Eylea®1 (Active ingredient: Aflibercept) has been submitted to the U.S. Food and Drug Administration („FDA“) in line with the initial schedule. Within 60 days after submission, FDA is expected to decide on whether to accept and to further review the BLA (“file acceptance”). Eylea® is used in the treatment of neovascular age-related macular degeneration (“nAMD”) and other severe retinal diseases. It inhibits vascular endothelial growth factor (“VEGF”), which is responsible for the excessive formation of blood vessels in the retina. With global sales of around USD 9.6 billion[i] Eylea® is currently the top-selling drug in this therapeutic area.
Valuation Update With 7 Day Price Move • May 18Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €77.80, the stock trades at a trailing P/E ratio of 34.6x. Average forward P/E is 32x in the Biotechs industry in the United Kingdom. Total returns to shareholders of 9.8% over the past year.
Reported Earnings • Apr 30Full year 2022 earnings released: EPS: €2.62 (vs €1.22 loss in FY 2021)Full year 2022 results: EPS: €2.62 (up from €1.22 loss in FY 2021). Revenue: €42.5m (up 15% from FY 2021). Net income: €36.0m (up €49.5m from FY 2021). Profit margin: 85% (up from net loss in FY 2021). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Biotechs industry in the United Kingdom.
お知らせ • Feb 03Formycon AG has completed a Follow-on Equity Offering in the amount of €70.07 million.Formycon AG has completed a Follow-on Equity Offering in the amount of €70.07 million. Security Name: Shares Security Type: Common Stock Securities Offered: 910,000 Price\Range: €77 Transaction Features: Rule 144A; Subsequent Direct Listing
Reported Earnings • Nov 01First half 2022 earnings released: EPS: €6.51 (vs €0.92 loss in 1H 2021)First half 2022 results: EPS: €6.51 (up from €0.92 loss in 1H 2021). Revenue: €17.6m (down 13% from 1H 2021). Net income: €80.0m (up €90.2m from 1H 2021). Revenue is forecast to grow 47% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Biotechs industry in the United Kingdom.
Reported Earnings • May 22Full year 2021 earnings released: €1.22 loss per share (vs €0.54 loss in FY 2020)Full year 2021 results: €1.22 loss per share (down from €0.54 loss in FY 2020). Revenue: €37.0m (up 8.0% from FY 2020). Net loss: €13.5m (loss widened 127% from FY 2020). Products in clinical trials Phase III: 2 Over the next year, revenue is forecast to grow 6.6%, compared to a 11% growth forecast for the pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 130 percentage points per year, which is a significant difference in performance.
Reported Earnings • Sep 24First half 2021 earnings released: €0.92 loss per share (vs €0.14 loss in 1H 2020)The company reported a soft first half result with increased losses and weaker control over costs, although revenues improved. First half 2021 results: Revenue: €20.3m (up 23% from 1H 2020). Net loss: €10.2m (loss widened €8.79m from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 139 percentage points per year, which is a significant difference in performance.
Reported Earnings • May 19Full year 2020 earnings releasedThe company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: €34.6m (up 4.5% from FY 2019). Net loss: €5.93m (loss widened 158% from FY 2019).
