Price Target Changed • May 20
Price target decreased by 12% to €5.50 Down from €6.25, the current price target is provided by 1 analyst. New target price is 105% above last closing price of €2.68. Stock is down 18% over the past year. The company is forecast to post a net loss per share of €0.52 next year compared to a net loss per share of €0.91 last year. Duyuru • May 19
Heidelberg Pharma AG, Annual General Meeting, Jun 23, 2026 Heidelberg Pharma AG, Annual General Meeting, Jun 23, 2026, at 09:00 W. Europe Standard Time. Duyuru • Apr 07
Heidelberg Pharma AG Presents Data from Its ADC Technology Platform At AACR Annual Meeting Heidelberg Pharma AG will present promising preclinical data from its Amanitin-based ADC HDP-103 targeting metastatic castration-resistant prostate cancer (mCRPC) at the American Association of Cancer Research (AACR) Annual Meeting 2026 in San Diego, California, USA, from 17 to 22 April. Details of the conference and poster presentation are as follow: Poster: HDP-103, a PSMA targeting amanitin-based ADC, is efficacious even in difficult to treat patient derived xenograft models with heterogenous PSMA expression. Poster number: 5639. Session: Antibody-Drug Conjugates and Linker Engineering 4. Presentation time: 21 April, 2:00 pm – 5:00 pm PDT. HDP-103 demonstrates target specific binding in human tissues and robust and durable antitumor activity in patient-derived xenograft (PDX) models representative of mCRPC, including tumors with heterogeneous PSMA expression and those harboring a del(17p). In these models, Amanitin-based HDP-103 was superior to an anti-PSMA Exatecan ADC. Adverse events with HDP-103 in non-human primates were restricted to known off-target effects of Amanitin-based ADCs, primarily in the liver and kidney. These effects can be readily monitored and are transient. HDP-103 serum levels demonstrate stability of the ADC in circulation, no evidence of drug accumulation, no differences between sexes, and dose-linearity. The potent anti-tumor efficacy of HDP-103 combined with a favorable half-life and a manageable safety profile, leads to a comfortable therapeutic index (TI) of HDP-103 that is well in the range of other ADCs that are approved or in development for solid tumor indications. Taken together, these data warrant further clinical development of HDP-103 as a novel treatment option for mCRPC. HDP-103´s unique mode of action gives it advantages over other treatment modalities in use or development for mCRPC including in patients with del(17p) who have a high unmet medical need. Breakeven Date Change • Aug 18
No longer forecast to breakeven The 2 analysts covering Heidelberg Pharma no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €94.9m in 2027. New consensus forecast suggests the company will make a loss of €33.6m in 2027. Duyuru • Jul 11
Heidelberg Pharma AG Provides Earnings Guidance for the Fiscal Year 2025 Heidelberg Pharma AG provided earnings guidance for the fiscal year 2025. For the period, the company expected sales revenue and other income to be in the range of EUR 9 million to EUR 11 million and operating loss to be in the range of EUR 30 million to EUR 35 million. Duyuru • Apr 07
Heidelberg Pharma AG, Annual General Meeting, May 15, 2025 Heidelberg Pharma AG, Annual General Meeting, May 15, 2025, at 09:00 W. Europe Standard Time. Duyuru • Mar 22
Heidelberg Pharma AG Provides Earnings Guidance for the Fiscal Year 2025 Heidelberg Pharma AG provided earnings guidance for the fiscal year 2025. The Executive Management Board expects the Heidelberg Pharma Group to generate between EUR 9.0 million and EUR 11.0 million in sales revenue and other income (2024: EUR 12.0 million) in the 2025 fiscal year. Operating loss expected to be EUR 30.0 million to EUR 35.0 million. Duyuru • Jan 13
Heidelberg Pharma AG Progresses into Cohort 7 in A Phase I/IIa Study with Bcma Atac Candidate HDP-101 Targeting Multiple Myeloma Heidelberg Pharma AG announced that it is advancing into Cohort 7 in a Phase I/IIa dose escalation study with lead ATAC candidate HDP-101 for the treatment of relapsed or refractory multiple myeloma. Previously, in Cohort 6, dose optimization regimens were introduced with three different settings. HDP-101 was well tolerated in Cohort 6, and the company are looking forward to publishing first efficacy and additional safety data of this patient group at forthcoming scientific conferences in 2025. Heidelberg Pharma's Phase I/IIa clinical study is an ongoing, non-randomised, open label study that is actively enrolling patients with relapsed or refractory Multiple myeloma or other plasma cell disorders expressing BCMA (B-cell maturation antigen). The study is currently assessing the safety, tolerability, pharmacokinetics, and efficacy of HDP-101 in patients with multiple myeloma. Clinical data from Cohort 5 demonstrated complete remission in one patient who had been heavily pre-treated across nine prior lines of therapy, including another BCMA-targeting agent. This patient showed an objective improvement (" partial response") in the 2nd cycle of treatment, with complete remission observed after the 11th cycle and continues sustaining response for more than a year. Breakeven Date Change • Dec 30
No longer forecast to breakeven The 2 analysts covering Heidelberg Pharma no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €22.4m in 2026. New consensus forecast suggests the company will make a loss of €39.0m in 2026. Reported Earnings • Oct 11
Third quarter 2024 earnings released: €0.13 loss per share (vs €0.002 profit in 3Q 2023) Third quarter 2024 results: €0.13 loss per share (down from €0.002 profit in 3Q 2023). Revenue: €3.56m (up 59% from 3Q 2023). Net loss: €5.59m (down €5.71m from profit in 3Q 2023). Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 12
Second quarter 2024 earnings released: €0.086 loss per share (vs €0.20 loss in 2Q 2023) Second quarter 2024 results: €0.086 loss per share (improved from €0.20 loss in 2Q 2023). Revenue: €5.02m (up 117% from 2Q 2023). Net loss: €4.17m (loss narrowed 56% from 2Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. New Risk • May 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€34m 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 (-€34m free cash flow). Earnings have declined by 13% per year over the past 5 years. Reported Earnings • Apr 26
First quarter 2024 earnings released: €0.10 loss per share (vs €0.14 loss in 1Q 2023) First quarter 2024 results: €0.10 loss per share (improved from €0.14 loss in 1Q 2023). Revenue: €1.86m (down 10% from 1Q 2023). Net loss: €4.49m (loss narrowed 32% from 1Q 2023). Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 26
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: €0.44 loss per share. Revenue: €16.8m (down 9.9% from FY 2022). Net loss: €20.3m (loss widened 3.3% from FY 2022). Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) also surpassed analyst estimates by 39%. Revenue is expected to decline by 6.3% p.a. on average during the next 2 years, while revenues in the Biotechs industry in Germany are expected to grow by 17%. Price Target Changed • Mar 08
Price target increased by 14% to €8.85 Up from €7.75, the current price target is provided by 1 analyst. New target price is 177% above last closing price of €3.19. Stock is down 33% over the past year. The company is forecast to post a net loss per share of €0.72 next year compared to a net loss per share of €0.53 last year. New Risk • Dec 05
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 German stocks, typically moving 6.8% 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 Earnings have declined by 17% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.8% average weekly change). Price Target Changed • Oct 25
Price target decreased by 13% to €7.75 Down from €8.87, the current price target is provided by 1 analyst. New target price is 176% above last closing price of €2.81. Stock is down 46% over the past year. The company is forecast to post a net loss per share of €0.72 next year compared to a net loss per share of €0.53 last year. Reported Earnings • Oct 13
Third quarter 2023 earnings released: EPS: €0.002 (vs €0.14 loss in 3Q 2022) Third quarter 2023 results: EPS: €0.002 (up from €0.14 loss in 3Q 2022). Revenue: €9.50m (up 170% from 3Q 2022). Net income: €113.1k (up €4.73m from 3Q 2022). Profit margin: 1.2% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Revenue is expected to decline by 8.9% p.a. on average during the next 3 years, while revenues in the Biotechs industry in Germany are expected to grow by 16%. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. New Risk • Oct 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 7.2% 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 7.2% per year for the foreseeable future. Minor Risk Currently unprofitable and not forecast to become profitable next year (€32m net loss next year). Duyuru • Sep 19
Heidelberg Pharma Provides Update on Phase I/IIa Clinical Trial with Lead Candidate HDP-101 Heidelberg Pharma AG announced that the clinical Phase I/IIa study with the lead development candidate HDP-101 has already started to recruit patients for the fifth patient cohort with a dosing of 100 µg/kg. The Safety Review Committee's (SRC) evaluation of patient data concluded that no dose-limiting toxicities have occurred to date. The first four dose levels have shown to be safe and well tolerated. So far 12 patients have been treated in the trial. With the expansion of study sites this summer, patient enrollment has significantly accelerated. One patient from the third cohort has now been on HDP-101 monotherapy for over nine months and has been treated with eleven doses. The BCMA antibody Amanitin conjugate HDP-101 is being tested in an open-label, multicenter study for the treatment of relapsed or refractory multiple myeloma, a cancer of the bone marrow. The first part of the study is a Phase I dose escalation study to determine the maximum tolerated dose of HDP-101. These findings will be used to determine the dose for the Phase IIa part, the primary objective of which is to initially evaluate the anti-tumor activity of HDP-101. The open-label, multicenter Phase I/IIa trial is expected to enroll up to 36 patients in the first part and up to 30 patients in the second part. Patients in Phase IIa will be stratified based on 17p deletion status. Preclinical data show that Amanitin has the potential to work particularly well on those tumors that have been genetically altered by a so-called 17p deletion to bypass a particular protective mechanism of cells. Patients with such a deletion generally respond less well to standard therapies and have a significantly poorer prognosis. Phase IIa will not only validate the efficacy of HDP-101 in patients with multiple myeloma, but also the clinical relevance of the 17p deletion. Reported Earnings • Jul 14
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €2.50m (down 78% from 2Q 2022). Net loss: €9.39m (loss widened €8.03m from 2Q 2022). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Biotechs industry in Germany. Duyuru • May 09
Heidelberg Pharma Ag Announces Executive Changes Heidelberg Pharma AG announced that Walter Miller has been appointed Chief Financial Officer effective May 1, 2023. dr Jan Schmidt-Brand, who has held a dual role since 2014, will remain Spokesman of the Management Board/CEO and will hand over his responsibilities as CFO to Walter Miller. Walter Miller was most recently CFO of Optimapharm Group, a Clinical Research Organization (CRO) headquartered in Zagreb, Croatia, where he was responsible for finance, MA and administration. He has many years of experience in corporate finance, MA, strategic controlling, accounting and corporate development, both in biotech companies and at CROs. Before Optimapharm, Mr. Miller was CFO at Mologen AG, Berlin, and CFO at the Nuvisan Group, headquartered in Neu-Ulm, as well as more than ten years in senior finance positions at Santhera Pharmaceuticals, Pratteln, Switzerland. He holds a degree in business administration from Aachen University. Price Target Changed • Apr 27
Price target decreased by 19% to €8.87 Down from €10.97, the current price target is an average from 3 analysts. New target price is 118% above last closing price of €4.06. Stock is down 20% over the past year. The company is forecast to post a net loss per share of €0.70 next year compared to a net loss per share of €0.53 last year. Price Target Changed • Apr 12
Price target decreased by 19% to €8.87 Down from €10.97, the current price target is an average from 3 analysts. New target price is 108% above last closing price of €4.27. Stock is down 23% over the past year. The company is forecast to post a net loss per share of €0.70 next year compared to a net loss per share of €0.53 last year. Breakeven Date Change • Mar 28
No longer forecast to breakeven The 3 analysts covering Heidelberg Pharma no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €24.0m in 2025. New consensus forecast suggests the company will make a loss of €27.0m in 2025. Reported Earnings • Mar 27
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: €0.53 loss per share (improved from €0.80 loss in FY 2021). Revenue: €19.9m (up €17.8m from FY 2021). Net loss: €19.7m (loss narrowed 25% from FY 2021). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Revenue is forecast to grow 9.7% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Price Target Changed • Feb 07
Price target decreased by 8.0% to €10.30 Down from €11.20, the current price target is an average from 3 analysts. New target price is 106% above last closing price of €5.00. Stock is up 19% over the past year. The company is forecast to post a net loss per share of €0.64 next year compared to a net loss per share of €0.80 last year. Reported Earnings • Oct 14
Third quarter 2022 earnings released: €0.14 loss per share (vs €0.17 loss in 3Q 2021) Third quarter 2022 results: €0.14 loss per share (improved from €0.17 loss in 3Q 2021). Revenue: €4.67m (up €4.11m from 3Q 2021). Net loss: €4.62m (loss narrowed 20% from 3Q 2021). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Biotechs industry in Germany. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Reported Earnings • Jul 13
Second quarter 2022 earnings released: €0.04 loss per share (vs €0.22 loss in 2Q 2021) Second quarter 2022 results: €0.04 loss per share (up from €0.22 loss in 2Q 2021). Revenue: €11.3m (up €10.7m from 2Q 2021). Net loss: €1.36m (loss narrowed 80% from 2Q 2021). Over the next year, revenue is forecast to grow 6.3%, compared to a 30% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Reported Earnings • May 01
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: €0.21 loss per share (down from €0.20 loss in 1Q 2021). Revenue: €829.0k (up 124% from 1Q 2021). Net loss: €7.25m (loss widened 15% from 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Over the next year, revenue is forecast to grow 295%, compared to a 44% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Price Target Changed • Mar 03
Price target increased to €10.78 Up from €9.95, the current price target is an average from 2 analysts. New target price is 101% above last closing price of €5.35. Stock is down 29% over the past year. The company is forecast to post a net loss per share of €0.72 next year compared to a net loss per share of €0.61 last year. Reported Earnings • Oct 08
Third quarter 2021 earnings released: €0.17 loss per share (vs €0.096 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: €633.8k (down 86% from 3Q 2020). Net loss: €5.76m (loss widened 89% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Executive Departure • Sep 03
CEO, CFO & Member of the Executive Management Board Jan Schmidt-Brand has left the company During their tenure, earnings grew by 23% annually compared to the industry average of 20%. We don't have any record of a personal shareholding under Jan's name. Jan is the only executive to leave the company over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Breakeven Date Change • Jul 12
Forecast to breakeven in 2023 The 4 analysts covering Heidelberg Pharma expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 12% per year to 2022. The company is expected to make a profit of €4.00m in 2023. Average annual earnings growth of 72% is required to achieve expected profit on schedule. Reported Earnings • Jul 09
Second quarter 2021 earnings released: €0.22 loss per share (vs €0.17 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: €712.1k (down 56% from 2Q 2020). Net loss: €6.77m (loss widened 40% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 39% per year, which means it is well ahead of earnings. Reported Earnings • May 01
First quarter 2021 earnings released: €0.20 loss per share (vs €0.16 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: €461.5k (down 69% from 1Q 2020). Net loss: €6.32m (loss widened 38% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 39% per year, which means it is well ahead of earnings. Reported Earnings • Mar 27
Full year 2020 earnings released: €0.61 loss per share (vs €0.36 loss in FY 2019) The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: €9.58m (up 28% from FY 2019). Net loss: €18.4m (loss widened 81% from FY 2019). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 17
New 90-day high: €8.28 The company is up 77% from its price of €4.69 on 19 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 17% over the same period. Price Target Changed • Feb 08
Price target raised to €6.52 Up from €5.62, the current price target is an average from 3 analysts. The new target price is 5.6% below the current share price of €6.90. As of last close, the stock is up 164% over the past year. Is New 90 Day High Low • Dec 04
New 90-day high: €5.32 The company is up 30% from its price of €4.10 on 04 September 2020. The German market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €19.40 per share. Is New 90 Day High Low • Nov 16
New 90-day high: €4.88 The company is up 9.0% from its price of €4.47 on 18 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €22.19 per share. Is New 90 Day High Low • Oct 21
New 90-day low: €3.55 The company is down 22% from its price of €4.53 on 23 July 2020. The German market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.94 per share. Reported Earnings • Oct 09
Third quarter earnings released Over the last 12 months the company has reported total losses of €17.0m, with losses widening by 71% from the prior year. Total revenue was €8.80m over the last 12 months, up 27% from the prior year. Is New 90 Day High Low • Sep 29
New 90-day low: €3.83 The company is down 19% from its price of €4.70 on 01 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.87 per share. 
