공시 • Jun 05
Adocia Announces Virtual Kol Event to Review Phase 3 Results of Ultra-Rapid Insulin Biochaperone Lispro Adocia announced that it will host a virtual Key Opinion Leader (KOL) event on Tuesday June 16, 2026 at 10:00 AM EST /4:00 PM CEST. Tim Heise, MD (Profil, Neuss, Germany), will join company management, Olivier Soula, CEO and co-founder of Adocia and You-Ping Chan, Head of R&D, to review the results of the Phase 3 trial conducted in China on BioChaperone Lispro (“BC Lispro”) for the treatment of type 2 diabetes. The event will cover the following topics: Introduction to Adocia’s proprietary BioChaperone technology platform, by You-Ping Chan; Current mealtime insulin treatment paradigm for diabetes and limitations by Tim Heise; Ultra-Rapid insulin BC Lispro Phase 3 data on type 2 diabetes by Tim Heise MD; Next steps and potential value creation by Olivier Soula. A live question and answer session will follow the presentation. The webcast will be conducted in English. A replay of the webcast and presentation materials will be made available on Adocia’s website following the event. BioChaperone Lispro was licensed to Tonghua Dongbaoin 2018, as part of a Licensing Agreement covering China and other Asian countries. BioChaperone Lispro is an Ultra-Rapid Insulin, belonging to the latest generation of prandial insulins. It combines Adocia's proprietary BioChaperone technology with insulin lispro, the active ingredient in the standard of care, Humalog (Eli Lilly). This innovative formulation acts significantly faster than earlier insulin generations, effectively reducing post-meal hyperglycemia, which is a key contributor to long-term complications such as retinopathy, diabetic foot ulcers, or kidney failure. Additionally, its rapid elimination minimizes the risk of hypoglycemia, often caused when insulin level remains high after post-meal glucose levels have normalized. The faster action profile of BioChaperone Lispro associated to an excellent local tolerance enhances its compatibility with modern diabetes management systems, particularly insulin pump systems, and provides better integration into advanced treatment algorithms. Beyond its clinical advantages, the quick onset of BioChaperone Lispro improves quality of life by offering greater flexibility in dose timing. Patients can administer insulin at mealtime, or even right-after-mealtime, allowing for more accurate dosing based on known meal timing and content. This reduces the risks of overdosing or underdosing, which can lead to hypo- or hyperglycemia and their associated complications. The simplified dosing process eases the psychological burden on patients and caregivers, significantly alleviating the stress associated with diabetes management. New Risk • Jun 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €80.5m (US$93.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Negative equity (-€617k). Minor Risks Revenue is less than US$5m (€3.8m revenue, or US$4.5m). Market cap is less than US$100m (€80.5m market cap, or US$93.3m). Breakeven Date Change • May 18
Forecast to breakeven in 2026 The 3 analysts covering Adocia expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €3.98m in 2026. Earnings growth of 55% is required to achieve expected profit on schedule. New Risk • May 13
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €17m Forecast net loss in 3 years: €6.4m 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: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Negative equity (-€617k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€6.4m net loss in 3 years). Revenue is less than US$5m (€3.8m revenue, or US$4.5m). Reported Earnings • Apr 24
Full year 2025 earnings released Full year 2025 results: Revenue: €3.85m (down 68% from FY 2024). Net loss: €16.6m (loss widened 78% from FY 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 53% growth forecast for the Biotechs industry in France. Breakeven Date Change • Apr 24
Forecast to breakeven in 2026 The 2 analysts covering Adocia expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €4.21m in 2026. Earnings growth of 43% is required to achieve expected profit on schedule. 
