Norwegian (OSEAX) Biotech Industry Analysis

Industry Valuation and Performance

Has the Norwegian Biotech Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 10 May 2026	NOK 5.7b	NOK 547.9m	-NOK 351,808,287.80	39.4x	-16.2x	10.4x
Tue, 07 Apr 2026	NOK 5.8b	NOK 545.9m	-NOK 378,577,073.00	52.5x	-15.4x	10.7x
Thu, 05 Mar 2026	NOK 5.5b	NOK 545.1m	-NOK 377,779,791.40	62.5x	-14.6x	10.1x
Sat, 31 Jan 2026	NOK 5.6b	NOK 603.4m	-NOK 362,813,009.60	80.4x	-15.5x	9.3x
Mon, 29 Dec 2025	NOK 5.5b	NOK 606.5m	-NOK 367,396,772.86	79.4x	-14.9x	9x
Wed, 26 Nov 2025	NOK 4.4b	NOK 236.4m	-NOK 495,991,737.00	163.1x	-8.8x	18.5x
Fri, 24 Oct 2025	NOK 5.0b	NOK 611.7m	-NOK 517,585,894.34	269.5x	-9.6x	8.1x
Sun, 21 Sep 2025	NOK 4.8b	NOK 611.4m	-NOK 497,128,798.84	234x	-9.7x	7.9x
Tue, 19 Aug 2025	NOK 5.5b	NOK 887.3m	-NOK 746,773,185.45	266.8x	-7.3x	6.2x
Thu, 17 Jul 2025	NOK 4.8b	NOK 886.4m	-NOK 748,621,875.93	196.8x	-6.4x	5.4x
Sat, 14 Jun 2025	NOK 4.9b	NOK 883.5m	-NOK 739,874,989.69	196.8x	-6.6x	5.5x
Mon, 12 May 2025	NOK 4.8b	NOK 898.4m	-NOK 897,736,461.93	323.2x	-5.3x	5.3x
Wed, 09 Apr 2025	NOK 4.5b	NOK 524.6m	-NOK 1,041,596,040.24	106.9x	-4.3x	8.6x
Fri, 07 Mar 2025	NOK 4.6b	NOK 523.7m	-NOK 1,110,286,601.70	127.5x	-4.1x	8.8x
Sun, 02 Feb 2025	NOK 5.3b	NOK 457.5m	-NOK 1,124,143,181.54	160.7x	-4.7x	11.6x
Tue, 31 Dec 2024	NOK 4.6b	NOK 457.6m	-NOK 1,073,773,099.20	147.2x	-4.3x	10.1x
Thu, 28 Nov 2024	NOK 4.4b	NOK 480.1m	-NOK 1,068,284,061.55	144.8x	-4.1x	9.1x
Sat, 26 Oct 2024	NOK 4.7b	NOK 472.0m	-NOK 1,070,315,495.90	58.3x	-4.4x	9.9x
Mon, 23 Sep 2024	NOK 5.3b	NOK 469.1m	-NOK 1,046,478,540.25	60.6x	-5x	11.2x
Wed, 21 Aug 2024	NOK 7.6b	NOK 512.3m	-NOK 1,036,282,669.36	61.4x	-7.3x	14.8x
Fri, 19 Jul 2024	NOK 9.1b	NOK 515.8m	-NOK 1,048,892,411.57	70.4x	-8.7x	17.6x
Sun, 16 Jun 2024	NOK 9.1b	NOK 642.1m	-NOK 942,713,689.40	36.7x	-9.7x	14.2x
Tue, 14 May 2024	NOK 8.5b	NOK 656.5m	-NOK 945,885,474.80	35x	-9x	13x
Thu, 11 Apr 2024	NOK 8.6b	NOK 658.2m	-NOK 943,363,171.00	38.8x	-9.2x	13.1x
Sat, 09 Mar 2024	NOK 9.4b	NOK 652.9m	-NOK 929,457,282.28	41.8x	-10.1x	14.3x
Mon, 05 Feb 2024	NOK 15.4b	NOK 659.4m	-NOK 1,364,439,945.00	41.8x	-11.3x	23.4x
Wed, 03 Jan 2024	NOK 16.3b	NOK 654.5m	-NOK 1,353,496,097.00	63.2x	-12.1x	24.9x
Fri, 01 Dec 2023	NOK 14.7b	NOK 661.1m	-NOK 1,372,494,664.00	58.5x	-10.7x	22.2x
Sun, 29 Oct 2023	NOK 13.3b	NOK 491.3m	-NOK 1,559,169,324.00	97.8x	-8.5x	27.1x
Tue, 26 Sep 2023	NOK 15.5b	NOK 625.6m	-NOK 1,463,197,067.00	57.7x	-10.6x	24.8x
Thu, 24 Aug 2023	NOK 15.3b	NOK 575.8m	-NOK 1,466,547,454.00	59x	-10.4x	26.5x
Sat, 22 Jul 2023	NOK 16.3b	NOK 554.3m	-NOK 1,448,689,813.00	58.5x	-11.3x	29.5x
Mon, 19 Jun 2023	NOK 17.0b	NOK 559.7m	-NOK 1,479,698,808.00	59.6x	-11.5x	30.4x
Wed, 17 May 2023	NOK 16.5b	NOK 578.2m	-NOK 1,470,689,037.00	30.1x	-11.2x	28.6x

Current Industry PE

Investors are pessimistic on the Norwegian Biotechs industry, indicating that they anticipate long term growth rates will be lower than they have historically.

The 3-year average PS ratio of 14.5x is higher than the industry's current PS ratio of 10.4x.

Past Earnings Growth

The earnings for companies in the Biotechs industry have improved over the last three years.
Meanwhile revenues have remained mostly flat.
This means that companies overall are more efficiently conducting business since losses are shrinking while sales have been flat.

Industry Trends

Which industries have driven the changes within the Norwegian Healthcare industry?


NO Market	-2.98%
Healthcare	-0.49%
Biotech	-0.44%
Biotech	-0.44%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
LYTIX Lytix Biopharma	NOK 10.85	8.5% +NOK 65.4m	93.8%	PB13.5x
CRNA Circio Holding	NOK 9.52	1.2% +NOK 26.2m	1,239.0%	PE-49.4x
ZLNA Zelluna	NOK 22.90	3.2% +NOK 18.4m	63.6%	PB7x
ABS Arctic Bioscience	NOK 3.44	4.2% +NOK 3.8m	32.3%	PS2x

Lytix Biopharma ASA Reports Final Phase II Results for Ruxotemitide (LTX-315) in Combination with Pembrolizumab in PD-1/PD-L1 Refractory Advanced Melanoma

Lytix Biopharma ASA announced final efficacy and safety results from its Phase II ATLAS-IT-05 study evaluating intratumoral ruxotemitide (LTX-315) in combination with pembrolizumab in patients with advanced melanoma who have progressed following prior checkpoint inhibitor therapy. The open-label, single-arm Phase II study enrolled primarily patients with unresectable stage IIIB to IV metastatic melanoma accessible for intratumoral injection, most of whom were heavily pretreated, with 52.1% having received three or more prior lines of therapy and all having received prior immunotherapy. Treatment with ruxotemitide in combination with pembrolizumab demonstrated clinically meaningful antitumor activity and a manageable safety profile in this difficult-to-treat population. Key efficacy findings from the study include: Objective response rate (ORR): 13.6% among evaluable patients (n=22), Clinical benefit rate (CBR): 40.9%, Durable responses lasting beyond 24 months in responding patients, Median progression-free survival (PFS): 6.3 months. These outcomes highlight the potential of ruxotemitide to enhance immune responses in patients with PD-1/PD-L1 refractory melanoma, a population with limited therapeutic options. The safety profile observed in the study was consistent with the known effects of intratumoral immunotherapy and pembrolizumab. The most common treatment-related adverse events were injection-site reactions (95.7%), fatigue (30%), pruritus (26.1%), hypotension (26.1%), and anemia (21.7%). No treatment-emergent adverse events led to discontinuation of pembrolizumab. ATLAS-IT-05 is a Phase II clinical trial evaluating intratumoral ruxotemitide in combination with pembrolizumab including in patients with advanced melanoma who have progressed following prior anti-PD-1 or anti-PD-L1 therapy (NCT04796194). Patients received up to seven intratumoral injections of ruxotemitide alongside pembrolizumab administered every three weeks until disease progression or for up to 24 months. Key endpoints of the study were objective response rate per RECIST v1.1 criteria, with secondary endpoints including duration of response, progression-free survival, overall survival and safety. Ruxotemitide (LTX-315) is a first-in-class oncolytic peptide designed for intratumoral administration. The molecule disrupts tumor cells locally, leading to the release of tumor antigens and danger-associated molecular signals that may activate systemic anti-tumor immune responses. This mechanism has the potential to convert immunologically "cold" tumors into "hot" tumors and enhance responses to checkpoint inhibitor therapies.

Norwegian (OSEAX) Biotech Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

New major risk - Revenue and earnings growth

Arcticzymes Technologies Asa Strengthens Ip Platform with New Patent Grant Supporting Expansion into Rna Therapeutics Manufacturing

Circio Holding ASA has withdrawn its Follow-on Equity Offering in the amount of NOK 82.49999 million.

New major risk - Market cap size

Lytix Biopharma ASA Reports Final Phase II Results for Ruxotemitide (LTX-315) in Combination with Pembrolizumab in PD-1/PD-L1 Refractory Advanced Melanoma

New major risk - Share price stability

Hofseth BioCare ASA Publishes Clinical Trial Results of Omego Full Spectrum Omegas

Zelluna ASA, Annual General Meeting, Apr 23, 2026

New major risk - Revenue size