New Risk • May 17
New major risk - Revenue and earnings growth Earnings have declined by 26% 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 26% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (zł11m net loss in 2 years). New Risk • Mar 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł368.4m (US$99.5m) 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 Risk Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (zł11m net loss in 2 years). Market cap is less than US$100m (zł368.4m market cap, or US$99.5m). New Risk • Sep 15
New major risk - Revenue and earnings growth Earnings have declined by 34% 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 34% per year over the past 5 years. Revenue is less than US$1m. 공시 • Aug 27
Bioceltix S.A. to Report First Half, 2025 Results on Sep 30, 2025 Bioceltix S.A. announced that they will report first half, 2025 results on Sep 30, 2025 New Risk • Jun 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Polish 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. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable next year (zł6.5m net loss next year). Share price has been volatile over the past 3 months (7.4% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). 공시 • May 21
Bioceltix S.A., Annual General Meeting, Jun 16, 2025 Bioceltix S.A., Annual General Meeting, Jun 16, 2025. New Risk • Aug 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Polish stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-zł14m free cash flow). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (zł356.5m market cap, or US$90.4m). New Risk • Jul 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% 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. 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 (-zł14m free cash flow). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (zł312.7m market cap, or US$79.2m). 공시 • Jun 01
Bioceltix S.A., Annual General Meeting, Jun 26, 2024 Bioceltix S.A., Annual General Meeting, Jun 26, 2024, at 11:00 Central European Standard Time. 공시 • Jun 02
Bioceltix S.A., Annual General Meeting, Jun 27, 2023 Bioceltix S.A., Annual General Meeting, Jun 27, 2023, at 12:00 Central European Standard Time. 공시 • Sep 10
Bioceltix S.A. to Report First Half, 2022 Results on Sep 27, 2022 Bioceltix S.A. announced that they will report first half, 2022 results on Sep 27, 2022 공시 • Jul 19
Bioceltix S.A. announced that it expects to receive PLN 4.21608 million in funding Bioceltix S.A. announced a private placement of 140,536 common shares at the price of KRW 1,310 per share for gross proceeds of 4.21608 million on July 18, 2022. 공시 • May 21
Bioceltix S.A., Annual General Meeting, Jun 15, 2022 Bioceltix S.A., Annual General Meeting, Jun 15, 2022, at 12:00 Central European Standard Time. 
