View Past PerformanceArctic Bioscience バランスシートの健全性財務の健全性 基準チェック /26Arctic Bioscienceの総株主資本はNOK173.5M 、総負債はNOK61.5Mで、負債比率は35.4%となります。総資産と総負債はそれぞれNOK284.7MとNOK111.2Mです。主要情報35.44%負債資本比率NOK 61.48m負債インタレスト・カバレッジ・レシオn/a現金NOK 1.29mエクイティNOK 173.49m負債合計NOK 111.17m総資産NOK 284.65m財務の健全性に関する最新情報分析記事 • Aug 20We're Keeping An Eye On Arctic Bioscience's (OB:ABS) Cash Burn RateJust because a business does not make any money, does not mean that the stock will go down. For example, biotech and...分析記事 • Jul 08We're Hopeful That Arctic Bioscience (OB:ABS) Will Use Its Cash WiselyJust because a business does not make any money, does not mean that the stock will go down. For example, although...分析記事 • Apr 09Here's Why We're Not Too Worried About Arctic Bioscience's (OB:ABS) Cash Burn SituationThere's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com...すべての更新を表示Recent updatesNew Risk • Jun 05New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 11% 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 (-kr45m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 8.2% per year over the past 5 years. Market cap is less than US$10m (kr90.3m market cap, or US$9.70m). Minor Risks Currently unprofitable and not forecast to become profitable next year (kr24m net loss next year). Revenue is less than US$5m (kr43m revenue, or US$4.6m).Reported Earnings • May 11Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: kr1.52 loss per share (improved from kr1.89 loss in FY 2024). Revenue: kr42.6m (down 4.0% from FY 2024). Net loss: kr41.0m (loss narrowed 14% from FY 2024). Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates by 15%. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings.New Risk • May 04New major risk - Revenue and earnings growthEarnings have declined by 10% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Earnings have declined by 10% per year over the past 5 years. Market cap is less than US$10m (kr89.0m market cap, or US$9.59m). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (9.6% average weekly change). Revenue is less than US$5m (kr46m revenue, or US$4.9m).お知らせ • Mar 20Arctic Bioscience Announces New Peer-Reviewed Study on Herring Roe Phospholipids Stimulating Anti-Inflammatory PathwaysArctic Bioscience announces that new research on herring roe oil (HRO) and phospholipid esters from herring roe (PEHeRo) has been accepted for publication in the Journal of Lipid Research, an internationally recognized scientific journal in the field of lipid biology. The study shows that HRO and its phospholipids (PEHeRo) activates the body's own inflammation-resolving mechanisms by increasing the production of specialized pro-resolving mediators (SPMs) in human immune cells and in a skin cell model relevant for psoriasis. SPMs are naturally occurring molecules derived from omega-3 fatty acids that help the body calm and resolve inflammation. The study demonstrates that treatment with herring roe phospholipids leads to a clear increase in several lipid mediator families, including mediators known to support resolution of inflammation and tissue repair. The results were consistent across both immune cells and skin cells involved in psoriatic disease processes. HRO350 is currently in development as a potential new oral treatment option for mild-to-moderate psoriasis, a large patient population in need of therapies with favourable safety and tolerability profiles. The research was carried out in collaboration with William Harvey Research Institute (UK), Nofima (Norway), and Møreforsking (Norway), and was partly supported by a grant from the Norwegian Research Council (project no. 327953).New Risk • Mar 15New minor risk - Financial data availabilityThe 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 Less than 1 year of cash runway based on free cash flow trend (-kr59m free cash flow). Market cap is less than US$10m (kr91.7m market cap, or US$9.38m). 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 (kr20m net loss next year). Share price has been volatile over the past 3 months (9.1% average weekly change). Revenue is less than US$5m (kr46m revenue, or US$4.7m).お知らせ • Feb 23Arctic Bioscience AS to Report Q4, 2025 Final Results on Feb 26, 2026Arctic Bioscience AS announced that they will report Q4, 2025 final results at 7:00 AM, Central European Standard Time on Feb 26, 2026お知らせ • Dec 19Arctic Bioscience AS, Annual General Meeting, May 27, 2026Arctic Bioscience AS, Annual General Meeting, May 27, 2026.お知らせ • Dec 18+ 1 more updateArctic Bioscience AS to Report First Half, 2026 Results on Aug 27, 2026Arctic Bioscience AS announced that they will report first half, 2026 results on Aug 27, 2026お知らせ • Nov 07Arctic Bioscience AS to Report Q3, 2025 Results on Nov 10, 2025Arctic Bioscience AS announced that they will report Q3, 2025 results at 7:00 AM, Central European Standard Time on Nov 10, 2025New Risk • Aug 29New major risk - Revenue and earnings growthEarnings have declined by 13% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 13% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable next year (kr12m net loss next year). Revenue is less than US$5m (kr44m revenue, or US$4.4m). Market cap is less than US$100m (kr103.1m market cap, or US$10.3m).お知らせ • Aug 18Arctic Bioscience Achieves Significant Vision Improvement in Clinical Glaucoma StudyArctic Bioscience announced that a clinical study published in International Ophthalmology demonstrated that daily supplementation with ROMEGA herring caviar oil resulted in a statistically significant improvement in the visual field measure Mean Deviation (MD) in patients with primary open-angle glaucoma (POAG) and controlled intraocular pressure (IOP). No adverse events were observed, and the treatment was well tolerated. The three-month study included 50 patients. The intervention group received one ROMEGA capsule (500mg) daily. Results showed a clear improvement in MD values in the intervention group (p = 0.01) compared to baseline, while no similar improvement was observed in the control group. Best-corrected visual acuity and retinal nerve fiber layer thickness remained stable, and intraocular pressure was maintained.お知らせ • Aug 13Arctic Bioscience Launches New Skin Care Product - Romega Skin RefineArctic Bioscience launched Romega®? Skin Refine, a dietary supplement that builds on the company's solid experience with advanced healthcare products, based on herring roe. The new launch marks its entry into a large, global and growing market segment within "Beauty and Skincare", with an estimated market size of 550-700 billion USD and growing with an estimated 7-8 % annually. The product is already available on Romega.no, and during the third quarter of 2025 it will be launched in China, in collaboration with partner Kotler Marketing Group China. The product will also be launched in Sweden this autumn and will mark the start of subscription-based direct-to-consumer (B2C) expansion with a rollout in several European countries through 2026. Romega®? Skin refine contains a unique combination of natural ingredients that support the skin's beauty and vitality from within, with important nourishment for the skin.お知らせ • Jul 02Arctic Bioscience Reports 12-Month Data Confirm Potential for HRO350 in Mild-To-Moderate PsoriasisArctic Bioscience announced 12-month readout of the HeROPA phase 2b clinical trial shows potential through key secondary endpoint PGA 0/1, where the per protocol population approaches significance (p = 0.07) after one year of treatment. Relevant subgroups show statistical significance (p < 0.05). Importantly, HRO350 was well tolerated throughout the study, with no safety concerns or drug-related serious adverse events reported. While the primary endpoint (PASI50 at 26 weeks) in the 52-week placebo-controlled study was not met due to an unexpectedly high placebo response, the overall data support the potential of HRO350. Arctic Bioscience strongly believe there is a major market potential for HRO350 in mild-to-moderate psoriasis and will seek partnerships for further development.お知らせ • May 26Arctic Bioscience AS Elects Olav Sindre Kriken as Board MemberArctic Bioscience AS at its ordinary general meeting held on 26 May 2025, The following is elected as new board member: Olav Sindre Kriken. Thus, the Company's Board of Directors will consist of the following persons: Harald Nordal (chairperson); Jan Endre Vartdal; Tore A. F. Tønseth; Marita Holstad; Olav Sindre Kriken.お知らせ • May 16Arctic Bioscience AS Provides Sales Guidance for 2025Arctic Bioscience AS provided sales guidance for 2025. The company is aiming for solid sales growth both in 2025 and in the coming years.Reported Earnings • May 09Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: kr1.89 loss per share (further deteriorated from kr1.79 loss in FY 2023). Revenue: kr44.4m (up 32% from FY 2023). Net loss: kr47.9m (loss widened 5.3% from FY 2023). Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 9.6%. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 44% per year, which means it is performing significantly worse than earnings.お知らせ • Apr 24Arctic Bioscience Announces Encouraging Top-Line Results from the HeROPA Clinical StudyArctic Bioscience AS announced that the HeROPA phase 2b study in mild-to-moderate psoriasis show encouraging results on key secondary endpoint with increasing durable efficacy up to week 52. Data analyses are ongoing for the full Clinical Study Report. The company will hold a presentation with the full set of data from the study when the Clinical Study Report is ready in June, including statistical significance levels for all datapoints and relevant sub-analyses. Among patients who completed 52 weeks of treatment: More patients treated with HRO350 achieved "clear" or "almost clear" skin (PGA 0/1) indicating minimal or no skin symptoms in both active groups compared to placebo; In the full population (PASI 3-10 at inclusion), 46 % of patients treated with high dose achieved a PGA 0/1 versus 36 % in the placebo group; In the group of patients with PASI 6-10 at inclusion, 45 % of patients in the high dose group achieved a PGA0/1 versus 29 % in the placebo group; 50 % reduction in the Psoriasis Area and Severity index (PASI50): As was observed for the 6-month readout of this endpoint, the placebo rate is high which obscures differences between the groups; HRO350 was well tolerated throughout the study duration with no new safety concerns and no unexpected serious adverse events. PASI 0/1 is commonly used as a primary endpoint in studies, is a treatment- goal for psoriasis and is a harder endpoint to reach than a 50 % reduction in PASI (PASI50). The Company is funded to expected cash flow positive nutra operations in 2026. Further development of the HRO350 in mild-to-moderate Psoriasis, beyond the current phase 2b, will be funded separately through partnerships or specific project funding.お知らせ • Apr 03Arctic Bioscience Announces Heropa 1-Year Read-Out: Top-Line Results Expected Within 2-3 WeeksArctic Bioscience announced that all patients have completed 1 year of treatment and the HeROPA phase 2b clinical trial on HRO350 in mild-to-moderate psoriasis is completed. Top-line results were planned to be announced by end of First Quarter 2025, however cleaning of the comprehensive dataset from more than 500 patients for 1 year of treatment is taking more time than anticipated. The top-line data are currently being cleaned and quality controlled. Top-line results are expected to be published within 2-3 weeks. Analyses on all endpoints will then be presented in the full clinical study report in May this year.New Risk • Mar 16New minor risk - Financial data availabilityThe 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 Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Market cap is less than US$10m (kr101.0m market cap, or US$9.49m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Currently unprofitable and not forecast to become profitable next year (kr56m net loss next year). Revenue is less than US$5m (kr32m revenue, or US$3.0m).お知らせ • Feb 20Arctic Bioscience AS to Report Q4, 2024 Results on Feb 27, 2025Arctic Bioscience AS announced that they will report Q4, 2024 results at 8:00 AM, Central European Standard Time on Feb 27, 2025お知らせ • Dec 13+ 2 more updatesArctic Bioscience AS to Report First Half, 2025 Results on Aug 28, 2025Arctic Bioscience AS announced that they will report first half, 2025 results on Aug 28, 2025お知らせ • Oct 29Arctic Bioscience AS Provides Revenue Guidance for the Year 2024Arctic Bioscience AS provided revenue guidance for the year 2024. The company will increase the focus on the nutraceutical business, where it see significant growth potential in several geographic regions. The results through 2024 have been positive, and it is aiming for a total year-over-year revenue growth in 2024 of 25% to 30%.New Risk • Oct 15New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: kr73.6m (US$6.79m) 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 Less than 1 year of cash runway based on free cash flow trend (-kr60m free cash flow). Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings are forecast to decline by an average of 7.5% per year for the foreseeable future. Market cap is less than US$10m (kr73.6m market cap, or US$6.79m). Minor Risks Currently unprofitable and not forecast to become profitable next year (kr52m net loss next year). Revenue is less than US$5m (kr32m revenue, or US$2.9m).お知らせ • Oct 15Arctic Bioscience Announces Top-Line Results from Phase 2b HeROPA StudyArctic Bioscience announced all patients have passed 6 months of treatment in the HeROPA phase 2b clinical study, which compared HRO350 to placebo. While the high dose active treatment arm showed an effect close to the assumed effect level, the placebo rate was unexpectedly high, preventing the achievement of the primary end-point. The HeROPA study is still ongoing and placebo controlled for 52 weeks. Arctic Bioscience will continue investigating the data in collaboration with its Contract Research Organization (Smerud Medical Research International) to identify the reasons behind the unexpectedly high placebo rate. Mild-to-moderate psoriasis is a fluctuating disease where patients can experience spontaneous improvements, and the disease is often less severe during the summer, due to sunlight exposure. Thus, endpoints analyzed after 52 weeks of treatment may elucidate how disease fluctuation over a full year may have impacted the 26-week primary endpoint. Of note, there have been no safety concerns, and no unexpected serious events related to the study medication have been reported to date. PASI50 (50% improvement in PASI score) was chosen as primary endpoint to align with regulatory guidelines on clinical studies in psoriasis. The study is still ongoing, thus numeric data are not disclosed at this time. Arctic Bioscience will continue the global market expansion of its nutraceutical pipeline where the company see a significant growth potential. The company will also perform a full strategic and organizational assessment to secure a sustainable financial platform. Cash preservation initiatives will be put in place to ensure that available financial resources enable the company to complete the 12-month study and continue product development, regardless of the strategic direction taken. CEO Christer Valderhaug and Medical Director Runhild Gammelsæter, will present the findings of the study and the next steps during a webcast on October 16, 2024, at 12:00 CET.New Risk • Sep 27New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 11% 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 (-kr60m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 7.6% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (kr52m net loss next year). Revenue is less than US$5m (kr32m revenue, or US$3.0m). Market cap is less than US$100m (kr329.8m market cap, or US$31.2m).New Risk • Sep 06New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr60m 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 (-kr60m free cash flow). Earnings are forecast to decline by an average of 7.6% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (kr52m net loss next year). Share price has been volatile over the past 3 months (9.4% average weekly change). Revenue is less than US$5m (kr32m revenue, or US$3.0m). Market cap is less than US$100m (kr365.3m market cap, or US$34.4m).Major Estimate Revision • Sep 03Consensus revenue estimates fall by 28%The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from kr57.0m to kr41.0m. Forecast losses increased from -kr1.20 to -kr1.96 per share. Biotechs industry in Norway expected to see average net income decline 9.9% next year. Consensus price target up from kr10.00 to kr15.00. Share price rose 2.0% to kr15.00 over the past week.分析記事 • Aug 20We're Keeping An Eye On Arctic Bioscience's (OB:ABS) Cash Burn RateJust because a business does not make any money, does not mean that the stock will go down. For example, biotech and...お知らせ • Jun 26Arctic Bioscience Announces New Positive Data Showing Anti-Inflammatory Effects of Phospholipid Esters from Herring Roe in Immune CellsArctic Bioscience are presenting a new data on anti-inflammatory cellular functions of herring roe oil at the 9th European Workshop on Lipid Mediators in Edinburgh, UK. The HeROPA clinical trial on HRO350 with the active substance Phospholipid Esters from Herring Roe (PeHeRo) is ongoing in mild-to-moderate psoriasis, with planned read-out fall 2024. These new data on human primary immune cells show that Phospholipid Esters from Herring Roe promotes biosynthesis of specialized pro-resolving mediators (SPMs) that are involved in anti-inflammatory activities. This mode of action can be a promising treatment modality in inflammatory conditions, including psoriasis, and supports an anti-inflammatory action of the investigational medicinal product HRO350. These data support previously published effects on inflammatory markers in psoriasis (Petrovic 2023). The study was conducted in collaboration with Møreforsking and was supported with a grant from the Norwegian Research Council (project nr. 327953, Properties of phospholipids from Herring Roe in Psoriasis).Reported Earnings • Apr 15Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: kr1.79 loss per share (further deteriorated from kr1.39 loss in FY 2022). Revenue: kr33.8m (down 2.1% from FY 2022). Net loss: kr45.5m (loss widened 34% from FY 2022). Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Revenue is forecast to grow 40% p.a. on average during the next 2 years, compared to a 32% growth forecast for the Biotechs industry in Norway. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings.Reported Earnings • Mar 05Full year 2023 earnings releasedFull year 2023 results: Revenue: kr33.8m (down 2.1% from FY 2022). Net loss: kr45.5m (loss widened 34% from FY 2022). Revenue is forecast to grow 40% p.a. on average during the next 2 years, compared to a 34% growth forecast for the Biotechs industry in Norway.お知らせ • Feb 23Arctic Bioscience AS to Report Q4, 2023 Results on Mar 01, 2024Arctic Bioscience AS announced that they will report Q4, 2023 results at 8:00 AM, Central European Standard Time on Mar 01, 2024New Risk • Jan 31New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 5.9% 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 Risk Earnings are forecast to decline by an average of 5.9% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr40m net loss in 2 years). Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Revenue is less than US$5m (kr39m revenue, or US$3.7m). Market cap is less than US$100m (kr260.0m market cap, or US$24.9m).New Risk • Jan 22New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 12% 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 Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr26m net loss in 2 years). Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Revenue is less than US$5m (kr39m revenue, or US$3.7m). Market cap is less than US$100m (kr266.4m market cap, or US$25.4m).お知らせ • Jan 17Arctic Bioscience Announces Recruitment Completed in the Phase IIb HeROPA Clinical TrialArctic Bioscience reported that the company have now fully recruited this phase IIb clinical trial in mild-to-moderate psoriasis with the planned 519 patients. The HeROPA trial is randomized, double blind and placebo controlled, investigating the efficacy and safety of the novel, oral drug candidate HRO350 for the treatment of mild-to-moderate Psoriasis. The HeROPA trial are ongoing in 5 countries in Europe; UK, Germany, Poland, Finland and Norway. The HeROPA trial has had competitive recruitment at over 60 sites in the 5 countries to recruit the 519 patients. Fully recruiting this very large study is a result of impressive efforts from over 60 sites across five countries. The final recruited patients will be dosed in the next few weeks, and first data-readout will be when all patients have been treated for 6 months, mid 2024.お知らせ • Dec 16+ 2 more updatesArctic Bioscience AS to Report Fiscal Year 2023 Results on Apr 09, 2024Arctic Bioscience AS announced that they will report fiscal year 2023 results on Apr 09, 2024お知らせ • Dec 01Arctic Bioscience Announces More Than 75% Recruitment in the Phase IIb HeROPA Clinical TrialArctic Bioscience AS reported that the company has now recruited more than 75% of the patients required for the trial. The HeROPA phase IIb clinical trial of HRO350 - a novel, oral drug candidate for the treatment of mild-to-moderate psoriasis - is ongoing in 5 countries in Europe; UK, Germany, Poland, Finland and Norway. As planned, recruitment speed has increased throughout fall as new clinics have been activated. Recruitment is going particularly well in Germany and Poland. A total of 519 patients are to be included in the trial. To date, more than 75% of the needed patients have been recruited.お知らせ • Nov 03Arctic Bioscience AS Provides Revenue Guidance for the Year 2023Arctic Bioscience AS provided revenue guidance for the year 2023. Overall, for the Company they are reducing the expected revenue growth for the full year from 30% to 35% to 15% to 20%.New Risk • Oct 15New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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: Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Currently unprofitable and not forecast to become profitable over next 3 years (kr1.4m net loss in 3 years). Share price has been volatile over the past 3 months (7.8% average weekly change). Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Revenue is less than US$5m (kr34m revenue, or US$3.2m). Market cap is less than US$100m (kr227.8m market cap, or US$20.8m).お知らせ • Aug 29Arctic Bioscience AS Provides Earnings Guidance for the Year 2023Arctic Bioscience AS provided earnings guidance for the year 2023. Based on received order intake for the second half of 2023 and general order outlook with new sales prospects Arctic Bioscience aims for a total year over year revenue growth in 2023 of 30-35 %.Major Estimate Revision • Jul 18Consensus EPS estimates upgraded to kr1.74 loss, revenue downgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from kr50.0m to kr45.0m. 2023 losses expected to reduce from -kr2.21 to -kr1.74 per share. Biotechs industry in Norway expected to see average net income growth of 2.5% next year. Consensus price target down from kr15.00 to kr10.00. Share price fell 11% to kr9.32 over the past week.お知らせ • May 08Arctic Bioscience as Announces Operational Update - Heropa Clinical Trial Approved in All 5 Countries and OngoingArctic Bioscience AS announced that the phase IIb HeROPA clinical trial approved in all the five European countries where the trial will be conducted more than two-thirds of the planned clinical trial sites (clinics) in the five countries activated Future opportunities in the microalgae segment through the acquisition of Arctic Algae AS. Approval of the HeROPA clinical trial by Medicines Authorities in five European countries demonstrates international endorsement and the high quality of drug development plan. This has considerably reduced the implementation risk for pharmaceutical development program. Update on the HeROPA clinical trial - a phase IIb clinical trial for mild-to-moderate psoriasis: Until now, forty clinics are active in the five countries participating in the HeROPA clinical trial. The first patient was included end of January 2023 in UK. Recruitment is competitive between clinics and will be complete when 519 patients are included. More clinics are being activated on an ongoing basis. Clinical Trial Application (CTA) processes and some aspects of global logistical operations have taken longer than expected. Arctic Bioscience have implemented additional measures to ensure timely recruitment of patients. More clinics have shown interest in joining the trial, and these are being enlisted for participation. The clinics are using their patient lists for recruitment, and the larger sites in central European countries have thousands of patients with psoriasis who may be eligible for inclusion. Recruitment is expected to proceed at speed throughout summer and into the fall. Update on sustainable marine nutraceutical supplement business: The nutraceutical business had a positive development in sales volume in the quarter compared to the first quarter of last year. Several new B2B customers with strong brands in their respective markets have launched products with ROMEGA®? in USA and Europe.Reported Earnings • Mar 30Full year 2022 earnings: Revenues miss analyst expectationsFull year 2022 results: Revenue: kr34.5m (up 60% from FY 2021). Net loss: kr34.0m (loss narrowed 20% from FY 2021). Revenue missed analyst estimates by 7.4%. Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Biotechs industry in Norway.Recent Insider Transactions • Feb 26Global Medical Director recently bought kr160k worth of stockOn the 23rd of February, Runhild Gammelsæter bought around 12k shares on-market at roughly kr13.90 per share. This transaction amounted to 87% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr299k. Insiders have collectively bought kr1.3m more in shares than they have sold in the last 12 months.Recent Insider Transactions • Feb 15Chief Executive Officer recently bought kr299k worth of stockOn the 13th of February, Christer Valderhaug bought around 28k shares on-market at roughly kr10.83 per share. This transaction increased Christer's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Christer has been a buyer over the last 12 months, purchasing a net total of kr624k worth in shares.お知らせ • Feb 14Arctic Bioscience AS (OB:ABS) acquired Arctic Algae As from Ronja Capital II AS for enterprise value NOK 16.3 million.Arctic Bioscience AS (OB:ABS) acquired Arctic Algae As from Ronja Capital II AS for enterprise value NOK 16.3 million on February 13, 2023. Net cash position of NOK 5.5 million. The transaction will be fully paid by shares. A third party fairness opinion has been conducted by Converto AS. Arctic Bioscience AS (OB:ABS) completed the acquisition of Arctic Algae As from Ronja Capital II AS on February 13, 2023.お知らせ • Feb 02Arctic Bioscience Announces First Patient Included in HRO350 Phase IIb Clinical Trial in the UKArctic Bioscience AS announced that with reference is being made to the stock exchange release from January 12, 2023 where Arctic Bioscience announced that the Clinical Trial Application (CTA) for a Phase IIb clinical trial in mild-to-moderate psoriasis with the investigational medicinal product (IMP) HRO350 was approved in the United Kingdom (UK). Arctic Bioscience has met a key milestone in the drug development program for HRO350. The first patient has been included in the clinical trial "A phase IIb, multicenter, randomized, double-blind, placebo-controlled, dose-finding, efficacy and safety study of HRO350 in patients with mild-to-moderate psoriasis" (the 'HeROPA' study) in the UK. This is the start of the clinical study. The international study is planned to be conducted in five countries, with a total of 519 patients. A six-month inclusion period is expected, with first data readout six months after last patient is included. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.お知らせ • Jan 13Arctic Bioscience Announces Clinical Trial Application for HRO350 Phase IIb Approves in UKArctic Bioscience announced that the CTA has been approved in the UK. On January 12, 2023, the Health Research Authority (HRA) gave its approval for clinical trial start in the UK "A Phase IIb, multicenter, randomized, double-blind, placebo-controlled, dose-finding, efficacy and safety study of HRO350 in patients with mild-to-moderate psoriasis" (the 'HeROPA' study). The CTA was simultaneously also approved by The United Kingdom (UK) Medicines & Healthcare products Regulatory Agency (MHRA), the UK Research Ethics Committee (REC). This is a major regulatory milestone in the drug development program for HRO350. Arctic Bioscience is currently in the process of activating the clinical trial sites in the UK, and first patient inclusion is expected later this month.お知らせ • Dec 14Arctic Bioscience AS to Report First Half, 2023 Results on Aug 29, 2023Arctic Bioscience AS announced that they will report first half, 2023 results on Aug 29, 2023Price Target Changed • Nov 16Price target decreased to kr15.00Down from kr17.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of kr14.90. Stock is down 21% over the past year. The company is forecast to post a net loss per share of kr1.47 next year compared to a net loss per share of kr1.75 last year.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 7 non-independent directors. Independent Board Member Jostein Dalland was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Major Estimate Revision • Sep 07Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast fell from kr40.0m to kr37.0m. 2022 losses expected to reduce from -kr2.58 to -kr1.47 per share. Biotechs industry in Norway expected to see average net income growth of 8.6% next year. Consensus price target down from kr17.00 to kr15.00. Share price fell 5.6% to kr13.50 over the past week.分析記事 • Jul 08We're Hopeful That Arctic Bioscience (OB:ABS) Will Use Its Cash WiselyJust because a business does not make any money, does not mean that the stock will go down. For example, although...Recent Insider Transactions • Jun 03Global Medical Director recently bought kr101k worth of stockOn the 1st of June, Runhild Gammelsæter bought around 7k shares on-market at roughly kr15.51 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr220k. Insiders have collectively bought kr845k more in shares than they have sold in the last 12 months.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Board Member Jostein Dalland was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Recent Insider Transactions • Apr 13Board Member recently bought kr220k worth of stockOn the 11th of April, Jan Vartdal bought around 14k shares on-market at roughly kr15.46 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr375k more in shares than they have sold in the last 12 months.分析記事 • Apr 09Here's Why We're Not Too Worried About Arctic Bioscience's (OB:ABS) Cash Burn SituationThere's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com...Reported Earnings • Apr 08Full year 2021 earnings: Revenues miss analyst expectationsFull year 2021 results: Net loss: kr42.6m (loss widened 89% from FY 2020). Revenue missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 86%, compared to a 148% growth forecast for the pharmaceuticals industry in Norway.Recent Insider Transactions • Feb 27Board Member recently bought kr498k worth of stockOn the 25th of February, Asbjorn Solevagseide bought around 18k shares on-market at roughly kr28.44 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.財務状況分析短期負債: ABSの 短期資産 ( NOK49.3M ) は 短期負債 ( NOK83.0M ) をカバーしていません。長期負債: ABSの短期資産 ( NOK49.3M ) が 長期負債 ( NOK28.2M ) を上回っています。デット・ツー・エクイティの歴史と分析負債レベル: ABSの 純負債対資本比率 ( 34.7% ) は 満足できる 水準であると考えられます。負債の削減: ABSの負債対資本比率は、過去 5 年間で13.2%から35.4%に増加しました。貸借対照表キャッシュ・ランウェイ分析過去に平均して赤字であった企業については、少なくとも1年間のキャッシュ・ランウェイがあるかどうかを評価する。安定したキャッシュランウェイ: ABSは、現在の フリーキャッシュフロー に基づくと、キャッシュランウェイ が 1 年未満です。キャッシュランウェイの予測: ABSは、フリーキャッシュフローが毎年1.2 % の歴史的率で減少し続ける場合、キャッシュランウェイが 1 年未満になります。健全な企業の発掘7D1Y7D1Y7D1YPharmaceuticals-biotech 業界の健全な企業。View Dividend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2026/07/31 02:28終値2026/07/31 00:00収益2025/12/31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Arctic Bioscience AS 1 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。2 アナリスト機関Patrik LingDNB CarnegieGeir HolomDNB Carnegie
分析記事 • Aug 20We're Keeping An Eye On Arctic Bioscience's (OB:ABS) Cash Burn RateJust because a business does not make any money, does not mean that the stock will go down. For example, biotech and...
分析記事 • Jul 08We're Hopeful That Arctic Bioscience (OB:ABS) Will Use Its Cash WiselyJust because a business does not make any money, does not mean that the stock will go down. For example, although...
分析記事 • Apr 09Here's Why We're Not Too Worried About Arctic Bioscience's (OB:ABS) Cash Burn SituationThere's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com...
New Risk • Jun 05New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 11% 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 (-kr45m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 8.2% per year over the past 5 years. Market cap is less than US$10m (kr90.3m market cap, or US$9.70m). Minor Risks Currently unprofitable and not forecast to become profitable next year (kr24m net loss next year). Revenue is less than US$5m (kr43m revenue, or US$4.6m).
Reported Earnings • May 11Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: kr1.52 loss per share (improved from kr1.89 loss in FY 2024). Revenue: kr42.6m (down 4.0% from FY 2024). Net loss: kr41.0m (loss narrowed 14% from FY 2024). Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates by 15%. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings.
New Risk • May 04New major risk - Revenue and earnings growthEarnings have declined by 10% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Earnings have declined by 10% per year over the past 5 years. Market cap is less than US$10m (kr89.0m market cap, or US$9.59m). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (9.6% average weekly change). Revenue is less than US$5m (kr46m revenue, or US$4.9m).
お知らせ • Mar 20Arctic Bioscience Announces New Peer-Reviewed Study on Herring Roe Phospholipids Stimulating Anti-Inflammatory PathwaysArctic Bioscience announces that new research on herring roe oil (HRO) and phospholipid esters from herring roe (PEHeRo) has been accepted for publication in the Journal of Lipid Research, an internationally recognized scientific journal in the field of lipid biology. The study shows that HRO and its phospholipids (PEHeRo) activates the body's own inflammation-resolving mechanisms by increasing the production of specialized pro-resolving mediators (SPMs) in human immune cells and in a skin cell model relevant for psoriasis. SPMs are naturally occurring molecules derived from omega-3 fatty acids that help the body calm and resolve inflammation. The study demonstrates that treatment with herring roe phospholipids leads to a clear increase in several lipid mediator families, including mediators known to support resolution of inflammation and tissue repair. The results were consistent across both immune cells and skin cells involved in psoriatic disease processes. HRO350 is currently in development as a potential new oral treatment option for mild-to-moderate psoriasis, a large patient population in need of therapies with favourable safety and tolerability profiles. The research was carried out in collaboration with William Harvey Research Institute (UK), Nofima (Norway), and Møreforsking (Norway), and was partly supported by a grant from the Norwegian Research Council (project no. 327953).
New Risk • Mar 15New minor risk - Financial data availabilityThe 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 Less than 1 year of cash runway based on free cash flow trend (-kr59m free cash flow). Market cap is less than US$10m (kr91.7m market cap, or US$9.38m). 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 (kr20m net loss next year). Share price has been volatile over the past 3 months (9.1% average weekly change). Revenue is less than US$5m (kr46m revenue, or US$4.7m).
お知らせ • Feb 23Arctic Bioscience AS to Report Q4, 2025 Final Results on Feb 26, 2026Arctic Bioscience AS announced that they will report Q4, 2025 final results at 7:00 AM, Central European Standard Time on Feb 26, 2026
お知らせ • Dec 19Arctic Bioscience AS, Annual General Meeting, May 27, 2026Arctic Bioscience AS, Annual General Meeting, May 27, 2026.
お知らせ • Dec 18+ 1 more updateArctic Bioscience AS to Report First Half, 2026 Results on Aug 27, 2026Arctic Bioscience AS announced that they will report first half, 2026 results on Aug 27, 2026
お知らせ • Nov 07Arctic Bioscience AS to Report Q3, 2025 Results on Nov 10, 2025Arctic Bioscience AS announced that they will report Q3, 2025 results at 7:00 AM, Central European Standard Time on Nov 10, 2025
New Risk • Aug 29New major risk - Revenue and earnings growthEarnings have declined by 13% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 13% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable next year (kr12m net loss next year). Revenue is less than US$5m (kr44m revenue, or US$4.4m). Market cap is less than US$100m (kr103.1m market cap, or US$10.3m).
お知らせ • Aug 18Arctic Bioscience Achieves Significant Vision Improvement in Clinical Glaucoma StudyArctic Bioscience announced that a clinical study published in International Ophthalmology demonstrated that daily supplementation with ROMEGA herring caviar oil resulted in a statistically significant improvement in the visual field measure Mean Deviation (MD) in patients with primary open-angle glaucoma (POAG) and controlled intraocular pressure (IOP). No adverse events were observed, and the treatment was well tolerated. The three-month study included 50 patients. The intervention group received one ROMEGA capsule (500mg) daily. Results showed a clear improvement in MD values in the intervention group (p = 0.01) compared to baseline, while no similar improvement was observed in the control group. Best-corrected visual acuity and retinal nerve fiber layer thickness remained stable, and intraocular pressure was maintained.
お知らせ • Aug 13Arctic Bioscience Launches New Skin Care Product - Romega Skin RefineArctic Bioscience launched Romega®? Skin Refine, a dietary supplement that builds on the company's solid experience with advanced healthcare products, based on herring roe. The new launch marks its entry into a large, global and growing market segment within "Beauty and Skincare", with an estimated market size of 550-700 billion USD and growing with an estimated 7-8 % annually. The product is already available on Romega.no, and during the third quarter of 2025 it will be launched in China, in collaboration with partner Kotler Marketing Group China. The product will also be launched in Sweden this autumn and will mark the start of subscription-based direct-to-consumer (B2C) expansion with a rollout in several European countries through 2026. Romega®? Skin refine contains a unique combination of natural ingredients that support the skin's beauty and vitality from within, with important nourishment for the skin.
お知らせ • Jul 02Arctic Bioscience Reports 12-Month Data Confirm Potential for HRO350 in Mild-To-Moderate PsoriasisArctic Bioscience announced 12-month readout of the HeROPA phase 2b clinical trial shows potential through key secondary endpoint PGA 0/1, where the per protocol population approaches significance (p = 0.07) after one year of treatment. Relevant subgroups show statistical significance (p < 0.05). Importantly, HRO350 was well tolerated throughout the study, with no safety concerns or drug-related serious adverse events reported. While the primary endpoint (PASI50 at 26 weeks) in the 52-week placebo-controlled study was not met due to an unexpectedly high placebo response, the overall data support the potential of HRO350. Arctic Bioscience strongly believe there is a major market potential for HRO350 in mild-to-moderate psoriasis and will seek partnerships for further development.
お知らせ • May 26Arctic Bioscience AS Elects Olav Sindre Kriken as Board MemberArctic Bioscience AS at its ordinary general meeting held on 26 May 2025, The following is elected as new board member: Olav Sindre Kriken. Thus, the Company's Board of Directors will consist of the following persons: Harald Nordal (chairperson); Jan Endre Vartdal; Tore A. F. Tønseth; Marita Holstad; Olav Sindre Kriken.
お知らせ • May 16Arctic Bioscience AS Provides Sales Guidance for 2025Arctic Bioscience AS provided sales guidance for 2025. The company is aiming for solid sales growth both in 2025 and in the coming years.
Reported Earnings • May 09Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: kr1.89 loss per share (further deteriorated from kr1.79 loss in FY 2023). Revenue: kr44.4m (up 32% from FY 2023). Net loss: kr47.9m (loss widened 5.3% from FY 2023). Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 9.6%. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 44% per year, which means it is performing significantly worse than earnings.
お知らせ • Apr 24Arctic Bioscience Announces Encouraging Top-Line Results from the HeROPA Clinical StudyArctic Bioscience AS announced that the HeROPA phase 2b study in mild-to-moderate psoriasis show encouraging results on key secondary endpoint with increasing durable efficacy up to week 52. Data analyses are ongoing for the full Clinical Study Report. The company will hold a presentation with the full set of data from the study when the Clinical Study Report is ready in June, including statistical significance levels for all datapoints and relevant sub-analyses. Among patients who completed 52 weeks of treatment: More patients treated with HRO350 achieved "clear" or "almost clear" skin (PGA 0/1) indicating minimal or no skin symptoms in both active groups compared to placebo; In the full population (PASI 3-10 at inclusion), 46 % of patients treated with high dose achieved a PGA 0/1 versus 36 % in the placebo group; In the group of patients with PASI 6-10 at inclusion, 45 % of patients in the high dose group achieved a PGA0/1 versus 29 % in the placebo group; 50 % reduction in the Psoriasis Area and Severity index (PASI50): As was observed for the 6-month readout of this endpoint, the placebo rate is high which obscures differences between the groups; HRO350 was well tolerated throughout the study duration with no new safety concerns and no unexpected serious adverse events. PASI 0/1 is commonly used as a primary endpoint in studies, is a treatment- goal for psoriasis and is a harder endpoint to reach than a 50 % reduction in PASI (PASI50). The Company is funded to expected cash flow positive nutra operations in 2026. Further development of the HRO350 in mild-to-moderate Psoriasis, beyond the current phase 2b, will be funded separately through partnerships or specific project funding.
お知らせ • Apr 03Arctic Bioscience Announces Heropa 1-Year Read-Out: Top-Line Results Expected Within 2-3 WeeksArctic Bioscience announced that all patients have completed 1 year of treatment and the HeROPA phase 2b clinical trial on HRO350 in mild-to-moderate psoriasis is completed. Top-line results were planned to be announced by end of First Quarter 2025, however cleaning of the comprehensive dataset from more than 500 patients for 1 year of treatment is taking more time than anticipated. The top-line data are currently being cleaned and quality controlled. Top-line results are expected to be published within 2-3 weeks. Analyses on all endpoints will then be presented in the full clinical study report in May this year.
New Risk • Mar 16New minor risk - Financial data availabilityThe 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 Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Market cap is less than US$10m (kr101.0m market cap, or US$9.49m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Currently unprofitable and not forecast to become profitable next year (kr56m net loss next year). Revenue is less than US$5m (kr32m revenue, or US$3.0m).
お知らせ • Feb 20Arctic Bioscience AS to Report Q4, 2024 Results on Feb 27, 2025Arctic Bioscience AS announced that they will report Q4, 2024 results at 8:00 AM, Central European Standard Time on Feb 27, 2025
お知らせ • Dec 13+ 2 more updatesArctic Bioscience AS to Report First Half, 2025 Results on Aug 28, 2025Arctic Bioscience AS announced that they will report first half, 2025 results on Aug 28, 2025
お知らせ • Oct 29Arctic Bioscience AS Provides Revenue Guidance for the Year 2024Arctic Bioscience AS provided revenue guidance for the year 2024. The company will increase the focus on the nutraceutical business, where it see significant growth potential in several geographic regions. The results through 2024 have been positive, and it is aiming for a total year-over-year revenue growth in 2024 of 25% to 30%.
New Risk • Oct 15New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: kr73.6m (US$6.79m) 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 Less than 1 year of cash runway based on free cash flow trend (-kr60m free cash flow). Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings are forecast to decline by an average of 7.5% per year for the foreseeable future. Market cap is less than US$10m (kr73.6m market cap, or US$6.79m). Minor Risks Currently unprofitable and not forecast to become profitable next year (kr52m net loss next year). Revenue is less than US$5m (kr32m revenue, or US$2.9m).
お知らせ • Oct 15Arctic Bioscience Announces Top-Line Results from Phase 2b HeROPA StudyArctic Bioscience announced all patients have passed 6 months of treatment in the HeROPA phase 2b clinical study, which compared HRO350 to placebo. While the high dose active treatment arm showed an effect close to the assumed effect level, the placebo rate was unexpectedly high, preventing the achievement of the primary end-point. The HeROPA study is still ongoing and placebo controlled for 52 weeks. Arctic Bioscience will continue investigating the data in collaboration with its Contract Research Organization (Smerud Medical Research International) to identify the reasons behind the unexpectedly high placebo rate. Mild-to-moderate psoriasis is a fluctuating disease where patients can experience spontaneous improvements, and the disease is often less severe during the summer, due to sunlight exposure. Thus, endpoints analyzed after 52 weeks of treatment may elucidate how disease fluctuation over a full year may have impacted the 26-week primary endpoint. Of note, there have been no safety concerns, and no unexpected serious events related to the study medication have been reported to date. PASI50 (50% improvement in PASI score) was chosen as primary endpoint to align with regulatory guidelines on clinical studies in psoriasis. The study is still ongoing, thus numeric data are not disclosed at this time. Arctic Bioscience will continue the global market expansion of its nutraceutical pipeline where the company see a significant growth potential. The company will also perform a full strategic and organizational assessment to secure a sustainable financial platform. Cash preservation initiatives will be put in place to ensure that available financial resources enable the company to complete the 12-month study and continue product development, regardless of the strategic direction taken. CEO Christer Valderhaug and Medical Director Runhild Gammelsæter, will present the findings of the study and the next steps during a webcast on October 16, 2024, at 12:00 CET.
New Risk • Sep 27New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 11% 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 (-kr60m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 7.6% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (kr52m net loss next year). Revenue is less than US$5m (kr32m revenue, or US$3.0m). Market cap is less than US$100m (kr329.8m market cap, or US$31.2m).
New Risk • Sep 06New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr60m 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 (-kr60m free cash flow). Earnings are forecast to decline by an average of 7.6% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (kr52m net loss next year). Share price has been volatile over the past 3 months (9.4% average weekly change). Revenue is less than US$5m (kr32m revenue, or US$3.0m). Market cap is less than US$100m (kr365.3m market cap, or US$34.4m).
Major Estimate Revision • Sep 03Consensus revenue estimates fall by 28%The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from kr57.0m to kr41.0m. Forecast losses increased from -kr1.20 to -kr1.96 per share. Biotechs industry in Norway expected to see average net income decline 9.9% next year. Consensus price target up from kr10.00 to kr15.00. Share price rose 2.0% to kr15.00 over the past week.
分析記事 • Aug 20We're Keeping An Eye On Arctic Bioscience's (OB:ABS) Cash Burn RateJust because a business does not make any money, does not mean that the stock will go down. For example, biotech and...
お知らせ • Jun 26Arctic Bioscience Announces New Positive Data Showing Anti-Inflammatory Effects of Phospholipid Esters from Herring Roe in Immune CellsArctic Bioscience are presenting a new data on anti-inflammatory cellular functions of herring roe oil at the 9th European Workshop on Lipid Mediators in Edinburgh, UK. The HeROPA clinical trial on HRO350 with the active substance Phospholipid Esters from Herring Roe (PeHeRo) is ongoing in mild-to-moderate psoriasis, with planned read-out fall 2024. These new data on human primary immune cells show that Phospholipid Esters from Herring Roe promotes biosynthesis of specialized pro-resolving mediators (SPMs) that are involved in anti-inflammatory activities. This mode of action can be a promising treatment modality in inflammatory conditions, including psoriasis, and supports an anti-inflammatory action of the investigational medicinal product HRO350. These data support previously published effects on inflammatory markers in psoriasis (Petrovic 2023). The study was conducted in collaboration with Møreforsking and was supported with a grant from the Norwegian Research Council (project nr. 327953, Properties of phospholipids from Herring Roe in Psoriasis).
Reported Earnings • Apr 15Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: kr1.79 loss per share (further deteriorated from kr1.39 loss in FY 2022). Revenue: kr33.8m (down 2.1% from FY 2022). Net loss: kr45.5m (loss widened 34% from FY 2022). Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Revenue is forecast to grow 40% p.a. on average during the next 2 years, compared to a 32% growth forecast for the Biotechs industry in Norway. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Mar 05Full year 2023 earnings releasedFull year 2023 results: Revenue: kr33.8m (down 2.1% from FY 2022). Net loss: kr45.5m (loss widened 34% from FY 2022). Revenue is forecast to grow 40% p.a. on average during the next 2 years, compared to a 34% growth forecast for the Biotechs industry in Norway.
お知らせ • Feb 23Arctic Bioscience AS to Report Q4, 2023 Results on Mar 01, 2024Arctic Bioscience AS announced that they will report Q4, 2023 results at 8:00 AM, Central European Standard Time on Mar 01, 2024
New Risk • Jan 31New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 5.9% 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 Risk Earnings are forecast to decline by an average of 5.9% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr40m net loss in 2 years). Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Revenue is less than US$5m (kr39m revenue, or US$3.7m). Market cap is less than US$100m (kr260.0m market cap, or US$24.9m).
New Risk • Jan 22New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 12% 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 Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr26m net loss in 2 years). Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Revenue is less than US$5m (kr39m revenue, or US$3.7m). Market cap is less than US$100m (kr266.4m market cap, or US$25.4m).
お知らせ • Jan 17Arctic Bioscience Announces Recruitment Completed in the Phase IIb HeROPA Clinical TrialArctic Bioscience reported that the company have now fully recruited this phase IIb clinical trial in mild-to-moderate psoriasis with the planned 519 patients. The HeROPA trial is randomized, double blind and placebo controlled, investigating the efficacy and safety of the novel, oral drug candidate HRO350 for the treatment of mild-to-moderate Psoriasis. The HeROPA trial are ongoing in 5 countries in Europe; UK, Germany, Poland, Finland and Norway. The HeROPA trial has had competitive recruitment at over 60 sites in the 5 countries to recruit the 519 patients. Fully recruiting this very large study is a result of impressive efforts from over 60 sites across five countries. The final recruited patients will be dosed in the next few weeks, and first data-readout will be when all patients have been treated for 6 months, mid 2024.
お知らせ • Dec 16+ 2 more updatesArctic Bioscience AS to Report Fiscal Year 2023 Results on Apr 09, 2024Arctic Bioscience AS announced that they will report fiscal year 2023 results on Apr 09, 2024
お知らせ • Dec 01Arctic Bioscience Announces More Than 75% Recruitment in the Phase IIb HeROPA Clinical TrialArctic Bioscience AS reported that the company has now recruited more than 75% of the patients required for the trial. The HeROPA phase IIb clinical trial of HRO350 - a novel, oral drug candidate for the treatment of mild-to-moderate psoriasis - is ongoing in 5 countries in Europe; UK, Germany, Poland, Finland and Norway. As planned, recruitment speed has increased throughout fall as new clinics have been activated. Recruitment is going particularly well in Germany and Poland. A total of 519 patients are to be included in the trial. To date, more than 75% of the needed patients have been recruited.
お知らせ • Nov 03Arctic Bioscience AS Provides Revenue Guidance for the Year 2023Arctic Bioscience AS provided revenue guidance for the year 2023. Overall, for the Company they are reducing the expected revenue growth for the full year from 30% to 35% to 15% to 20%.
New Risk • Oct 15New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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: Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Currently unprofitable and not forecast to become profitable over next 3 years (kr1.4m net loss in 3 years). Share price has been volatile over the past 3 months (7.8% average weekly change). Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Revenue is less than US$5m (kr34m revenue, or US$3.2m). Market cap is less than US$100m (kr227.8m market cap, or US$20.8m).
お知らせ • Aug 29Arctic Bioscience AS Provides Earnings Guidance for the Year 2023Arctic Bioscience AS provided earnings guidance for the year 2023. Based on received order intake for the second half of 2023 and general order outlook with new sales prospects Arctic Bioscience aims for a total year over year revenue growth in 2023 of 30-35 %.
Major Estimate Revision • Jul 18Consensus EPS estimates upgraded to kr1.74 loss, revenue downgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from kr50.0m to kr45.0m. 2023 losses expected to reduce from -kr2.21 to -kr1.74 per share. Biotechs industry in Norway expected to see average net income growth of 2.5% next year. Consensus price target down from kr15.00 to kr10.00. Share price fell 11% to kr9.32 over the past week.
お知らせ • May 08Arctic Bioscience as Announces Operational Update - Heropa Clinical Trial Approved in All 5 Countries and OngoingArctic Bioscience AS announced that the phase IIb HeROPA clinical trial approved in all the five European countries where the trial will be conducted more than two-thirds of the planned clinical trial sites (clinics) in the five countries activated Future opportunities in the microalgae segment through the acquisition of Arctic Algae AS. Approval of the HeROPA clinical trial by Medicines Authorities in five European countries demonstrates international endorsement and the high quality of drug development plan. This has considerably reduced the implementation risk for pharmaceutical development program. Update on the HeROPA clinical trial - a phase IIb clinical trial for mild-to-moderate psoriasis: Until now, forty clinics are active in the five countries participating in the HeROPA clinical trial. The first patient was included end of January 2023 in UK. Recruitment is competitive between clinics and will be complete when 519 patients are included. More clinics are being activated on an ongoing basis. Clinical Trial Application (CTA) processes and some aspects of global logistical operations have taken longer than expected. Arctic Bioscience have implemented additional measures to ensure timely recruitment of patients. More clinics have shown interest in joining the trial, and these are being enlisted for participation. The clinics are using their patient lists for recruitment, and the larger sites in central European countries have thousands of patients with psoriasis who may be eligible for inclusion. Recruitment is expected to proceed at speed throughout summer and into the fall. Update on sustainable marine nutraceutical supplement business: The nutraceutical business had a positive development in sales volume in the quarter compared to the first quarter of last year. Several new B2B customers with strong brands in their respective markets have launched products with ROMEGA®? in USA and Europe.
Reported Earnings • Mar 30Full year 2022 earnings: Revenues miss analyst expectationsFull year 2022 results: Revenue: kr34.5m (up 60% from FY 2021). Net loss: kr34.0m (loss narrowed 20% from FY 2021). Revenue missed analyst estimates by 7.4%. Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Biotechs industry in Norway.
Recent Insider Transactions • Feb 26Global Medical Director recently bought kr160k worth of stockOn the 23rd of February, Runhild Gammelsæter bought around 12k shares on-market at roughly kr13.90 per share. This transaction amounted to 87% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr299k. Insiders have collectively bought kr1.3m more in shares than they have sold in the last 12 months.
Recent Insider Transactions • Feb 15Chief Executive Officer recently bought kr299k worth of stockOn the 13th of February, Christer Valderhaug bought around 28k shares on-market at roughly kr10.83 per share. This transaction increased Christer's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Christer has been a buyer over the last 12 months, purchasing a net total of kr624k worth in shares.
お知らせ • Feb 14Arctic Bioscience AS (OB:ABS) acquired Arctic Algae As from Ronja Capital II AS for enterprise value NOK 16.3 million.Arctic Bioscience AS (OB:ABS) acquired Arctic Algae As from Ronja Capital II AS for enterprise value NOK 16.3 million on February 13, 2023. Net cash position of NOK 5.5 million. The transaction will be fully paid by shares. A third party fairness opinion has been conducted by Converto AS. Arctic Bioscience AS (OB:ABS) completed the acquisition of Arctic Algae As from Ronja Capital II AS on February 13, 2023.
お知らせ • Feb 02Arctic Bioscience Announces First Patient Included in HRO350 Phase IIb Clinical Trial in the UKArctic Bioscience AS announced that with reference is being made to the stock exchange release from January 12, 2023 where Arctic Bioscience announced that the Clinical Trial Application (CTA) for a Phase IIb clinical trial in mild-to-moderate psoriasis with the investigational medicinal product (IMP) HRO350 was approved in the United Kingdom (UK). Arctic Bioscience has met a key milestone in the drug development program for HRO350. The first patient has been included in the clinical trial "A phase IIb, multicenter, randomized, double-blind, placebo-controlled, dose-finding, efficacy and safety study of HRO350 in patients with mild-to-moderate psoriasis" (the 'HeROPA' study) in the UK. This is the start of the clinical study. The international study is planned to be conducted in five countries, with a total of 519 patients. A six-month inclusion period is expected, with first data readout six months after last patient is included. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
お知らせ • Jan 13Arctic Bioscience Announces Clinical Trial Application for HRO350 Phase IIb Approves in UKArctic Bioscience announced that the CTA has been approved in the UK. On January 12, 2023, the Health Research Authority (HRA) gave its approval for clinical trial start in the UK "A Phase IIb, multicenter, randomized, double-blind, placebo-controlled, dose-finding, efficacy and safety study of HRO350 in patients with mild-to-moderate psoriasis" (the 'HeROPA' study). The CTA was simultaneously also approved by The United Kingdom (UK) Medicines & Healthcare products Regulatory Agency (MHRA), the UK Research Ethics Committee (REC). This is a major regulatory milestone in the drug development program for HRO350. Arctic Bioscience is currently in the process of activating the clinical trial sites in the UK, and first patient inclusion is expected later this month.
お知らせ • Dec 14Arctic Bioscience AS to Report First Half, 2023 Results on Aug 29, 2023Arctic Bioscience AS announced that they will report first half, 2023 results on Aug 29, 2023
Price Target Changed • Nov 16Price target decreased to kr15.00Down from kr17.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of kr14.90. Stock is down 21% over the past year. The company is forecast to post a net loss per share of kr1.47 next year compared to a net loss per share of kr1.75 last year.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 7 non-independent directors. Independent Board Member Jostein Dalland was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Major Estimate Revision • Sep 07Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast fell from kr40.0m to kr37.0m. 2022 losses expected to reduce from -kr2.58 to -kr1.47 per share. Biotechs industry in Norway expected to see average net income growth of 8.6% next year. Consensus price target down from kr17.00 to kr15.00. Share price fell 5.6% to kr13.50 over the past week.
分析記事 • Jul 08We're Hopeful That Arctic Bioscience (OB:ABS) Will Use Its Cash WiselyJust because a business does not make any money, does not mean that the stock will go down. For example, although...
Recent Insider Transactions • Jun 03Global Medical Director recently bought kr101k worth of stockOn the 1st of June, Runhild Gammelsæter bought around 7k shares on-market at roughly kr15.51 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr220k. Insiders have collectively bought kr845k more in shares than they have sold in the last 12 months.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Board Member Jostein Dalland was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Recent Insider Transactions • Apr 13Board Member recently bought kr220k worth of stockOn the 11th of April, Jan Vartdal bought around 14k shares on-market at roughly kr15.46 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr375k more in shares than they have sold in the last 12 months.
分析記事 • Apr 09Here's Why We're Not Too Worried About Arctic Bioscience's (OB:ABS) Cash Burn SituationThere's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com...
Reported Earnings • Apr 08Full year 2021 earnings: Revenues miss analyst expectationsFull year 2021 results: Net loss: kr42.6m (loss widened 89% from FY 2020). Revenue missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 86%, compared to a 148% growth forecast for the pharmaceuticals industry in Norway.
Recent Insider Transactions • Feb 27Board Member recently bought kr498k worth of stockOn the 25th of February, Asbjorn Solevagseide bought around 18k shares on-market at roughly kr28.44 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.