Biovica International AB - Q2 Interim report Aug - Oct 2025
UPPSALA, SE / ACCESS Newswire / December 18, 2025 / Biovica International (STO:BIOVIC-B)(STO:BIOVIC.B)(FRA:9II) - Positioned for growth in Pharma Services and in the USA
Q2 (August- October 2025) (comparison figures same period 2024)
Net sales amounted to SEK 2,675 (2,312) thousand for the quarter, corresponding to an increase of 16%. In local currency, net sales increased by 27%.
Cash flow from operating activities amounted to SEK -18,111 (- 21,053) thousand.
At the end of the quarter, cash and cash equivalents amounted to SEK 100,664 thousand (SEK 16,305 thousand previous quarter).
Q1 and Q2 (May - October 2025) (comparison figures same period 2024)
Net sales amounted to SEK 5,271 (4,027) thousand for the period, corresponding to an increase of 31%. In local currency, net sales increased by 45%.
Cash flow from operating activities during the period amounted to SEK -35,306 ( -50,096) thousand.
Significant events during Q2 (August - October 2025)
A rights issue in August raised capital of SEK 80.1 million prior to issue costs.
A directed share issue in August generated approximately SEK 42.2 million for Biovica, prior to issue costs.
Significant events after the end of the quarter
Two new studies with DiviTum TKa presented at SABCS 2025
New commercial agreement signed with NCI Center in the USA.
Selected Key Performance Indicators: | Aug-Oct | Aug-Oct | May-Oct | May-Oct | Full year |
SEK 000s | 2025 | 2024 | 2025 | 2024 | 24/25 |
Net sales | 2,675 | 2,312 | 5,271 | 4,027 | 8,619 |
Operating profit (loss) | -14,964 | -19,753 | -34,298 | -43,316 | -85,839 |
Profit (loss) for the period | -15,111 | -21,152 | -32,886 | -44,041 | -87,624 |
Earnings per share, before dilution, SEK | -0.06 | -0.23 | -0.18 | -0.50 | -0.95 |
Cash and cash equivalents at the end of the period | 100,664 | 61,883 | 100,664 | 61,883 | 24,415 |
Cash flow from operating activities | -18,111 | -21,053 | -35,306 | -50,096 | -85,367 |
Cash flow for the period | 84,429 | -3,231 | 76,359 | -17,466 | -54,730 |
Equity | 123,804 | 86,879 | 123,804 | 86,879 | 43,206 |
Equity per share, SEK | 0.48 | 0.96 | 0.69 | 0.99 | 0.44 |
Equity ratio (%) | 89% | 80% | 89% | 80% | 67% |
Financial Targets
In connection with this interim report, the Board of Directors has decided to refrain from communicating financial targets, pending a more stable and predictable development in sales.
Biovica in brief - Treatment decisions with greater certainty
Biovica develops and commercializes the blood-based biomarker assay, DiviTum® TKa, which enables early-stage evaluation of treatment effectiveness. The initial focus is on breast cancer.
DiviTum TKa has obtained FDA 510(k) clearance in the USA and has CE marking in the EU.
Biovica's shares are traded on the Nasdaq First North Premier Growth Market (BIOVIC B).
CEO's comments
We made significant progress during the quarter and continued to build a strong platform for future growth. Net sales during the quarter increased by 16% (27% in local currency) compared to the same quarter previous year and by 31% (45% in local currency) compared to the same period previous year. Thanks to good cost control, we also improved our cash flow significantly.
There has been a delay in the study to be carried out in collaboration with the large integrated healthcare network in the USA, which is something we flagged already in the previous quarterly report. Because of that, we did not meet our sales target for the period.
It means that we will neither achieve our target of SEK 50 million for the current financial year, nor our target of SEK 150 million for the coming year. The Board has decided that Biovica will refrain from publishing these types of targets until the sales pipeline has matured. Nevertheless, we have the ambition of achieving positive cash flow during 2027. The plan is based on continued positive development within Pharma Services and the progress achieved in collaboration with the US healthcare network toward the initiation of the planned breast cancer clinical trial.
For Pharma Services, we previously reported that there are agreements in place with a contract value of approximately SEK 25 million. The revenue from those will be recognized during the next two to three years and we have planned deliveries that will boost revenue in this segment already during Q3 and Q4.
We are seeing a clear trend towards both larger projects and larger pharmaceutical companies in our customer base. Five of our current customers each report annual sales in excess of SEK 100 billion. There is enormous potential here to expand on the collaborations and establish DiviTum TKa as a standard tool in the development of new oncology drugs.
Our collaboration with the large integrated healthcare network in the USA to launch a large-scale clinical study is progressing. In the previous quarterly report, we reported that the original study protocol needed to be revised, resulting in a delay. With the protocol now revised the goal is for the study to get underway during the first half of 2026, providing an increase in revenue as well as important clinical results.
Following nine quarters of growth, sales within clinical use in the USA have temporarily stalled. The break in the trend is explained, among other things, by the fact that an NCI/NCCN-designated cancer center, where a study was recently completed, has postponed clinical implementation pending a commercial agreement. After the end of the reporting period, such an agreement has now been signed, creating favorable conditions for an accelerated adoption of DiviTum TKa. It is part our strategy of focusing more sharply on major NCI/NCCN centers, along with signing commercial agreements to boost sales. We have also noticed higher interest for use in early breast cancer and have developed an LDT version of the assay that can be offered to the market. In light of these developments, we are confident in our ability to reignite strong growth in the coming quarters.
Our strategic collaboration with Tempus - a leader in data-driven precision medicine - continues. The partnership expands our reach to a broader network of oncologists in the USA and is a key element of our long-term plan to establish DiviTum TKa as a standard tool for monitoring treatment efficacy. Efforts to develop a joint value proposition have taken much longer than initially planned, but we now have common ambition to be ready for launch during the second half of 2026.
Our good standing in the scientific community also improved during the period. In December of 2025, two new studies were presented at SABCS confirming the role of DiviTum TKa in metastatic breast cancer. The findings demonstrate the value of DiviTum TKa for dose optimization and early identification of treatment resistance, factors that are critical to treatment outcomes and cost efficiency.
The studies were conducted in the USA at: Yale Cancer Center, Connecticut and Mass General Brigham (MGB) Cancer Institute, Massachusetts. Both institutions are among the leading and most prestigious cancer research centers in the United States.
The Yale study concluded that DiviTum TKa is a promising tool for monitoring patient adherence to CDK4/6 inhibitors and for detecting potential drug-drug interactions in the clinical setting.
The study at MGB Cancer Institute confirms TKa as a promising biomarker and shows how TKa patterns, combined with ctDNA profiles, can be linked to genomic alterations and treatment response in HR+/HER2- metastatic breast cancer.
With the aim of strengthening customer relationships and accelerating sales growth, I plan to spend more time in the United States in 2026. It is a strategic investment aimed at enhancing our relationships with key partners and achieving commercial success in the near term.
In summary, we have a strong position in a growing market, a product that makes a meaningful difference for both patients and caregivers, and an organization that is ready to deliver. As we move into the next quarter, our focus remains on driving sales growth and creating value for patients, our partners, and shareholders.
Anders Rylander, CEO
Contact
Anders Rylander, CEO
Phone: +46 76 666 16 47
E-mail: [email protected]
Anders Morén, CFO
Phone: +46 73 125 92 46
E-mail: [email protected]
Biovica - Treatment decisions with greater confidence
Biovica develops and commercializes blood-based biomarker assays that help oncologists monitor cancer progression. Biovica's assay, DiviTum® TKa, measures cell proliferation by detecting the TKa biomarker in the bloodstream. The assay has demonstrated its ability to provide insight to therapy effectiveness in several clinical trials. The first application for the DiviTum® TKa test is treatment monitoring of patients with metastatic breast cancer. Biovica's vision is: "Improved care for cancer patients." Biovica collaborates with world-leading cancer institutes and pharmaceutical companies. DiviTum® TKa has received FDA 510(k) clearance in the US and is CE-marked in the EU. Biovica's shares are traded on the Nasdaq First North Premier Growth Market (BIOVIC B). FNCA Sweden AB is the company's Certified Adviser. For more information, please visit: www.biovica.com
This information is information that Biovica International is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-12-18 08:30 CET.
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SOURCE: Biovica International
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