Q2 2026 BioArctic AB (publ) Earnings Call Transcript
Key Points
- BioArctic AB (BRCTF) received FDA approval for Leqembi's subcutaneous autoinjector (iClick) in July 2026, with the US launch starting this week, significantly enhancing patient convenience and potentially broadening market uptake.
- The company's new license agreement and collaboration with Eli Lilly provides strong external validation for its brain transporter platform, expanding its application in CNS therapies beyond internal programs.
- BioArctic AB (BRCTF) reported a strong financial position with approximately SEK 2 billion in cash at the end of Q2 2026, excluding the $30 million upfront payment from Lilly, and expects to remain profitable for the full year.
- The alpha-synuclein program (exidavnemab) passed a planned safety review, confirming a favorable safety profile and supporting progression into Phase 2b studies for Parkinson's disease and multiple system atrophy.
- Global Leqembi sales grew 27% year-over-year to roughly $184 million in Q2 2026, with royalties increasing 12% quarter-over-quarter, driven by strong growth in the US and China.
- The new research collaboration with Mesenkia marks BioArctic AB (BRCTF)'s entry into oncology, expanding the brain transporter platform's potential application to glioblastoma, a high unmet medical need area.
- BioArctic AB (BRCTF) reported a net loss in Q2 2026 due to increased operating costs, which rose to SEK 232 million from SEK 193 million a year ago, reflecting heavy investments in the R&D portfolio.
- The US market for Leqembi faced a tough competitive environment during the quarter, with growth of only 13% primarily driven by simplified diagnosis rather than broader patient uptake.
- Japan's Leqembi sales declined significantly from Q1 2026 (roughly $38 million), attributed to capacity issues for infusions, which is expected to persist until the subcutaneous version is approved and launched.
- European market uptake for Leqembi remains slow, with ongoing commercial discussions in the UK and limited public reimbursement progress, despite some interest from private clinics in the Nordics.
- The company's net revenues appeared to shrink year-over-year in Q2 2026 due to the absence of milestone payments that were received in Q2 2025, creating a perception of declining top-line performance.
- BioArctic AB (BRCTF) expects operating costs to increase by 40% to 60% for the full year 2026, which could pressure near-term profitability despite the strong cash position.
Welcome to BioArctic Q2 Report 2026. For the first part of the conference call, the participants will be in listen-only mode. During the questions and answers session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to CEO Gunnala Oswald with colleagues. Please go ahead.
()- -
Thank you so much and good morning and welcome to BIOTIC's presentation for the second quarter of 2026.
Lekembi continues to progress really well with new approvals and launches and BIOTIC has signed additional strategic partnerships and we will talk more about this in today's webcast.
Next slide please.
BIOTIC is listed at nasdaq.com/largecap and this is our disclaimer.
Next slide please.
I'm Gunila Ostwald, the CEO of Biotic, and I will share today's presentation with our CFO, Anders Martin Leon, and our Chief R&D Officer, Johanna Peltin, and our Chief
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
