Oncopeptides 2025 Net Sales More Than Double to SEK 71.1 Million

Oncopeptides AB (publ) published its year-end report for 2025 on February 19, 2026. The biotech company, focused on difficult-to-treat cancers and listed on Nasdaq Stockholm as ONCO, reported full-year net sales of SEK 71.1 million, a 125 percent increase compared to 2024. Fourth-quarter net sales reached SEK 18.6 million, an 88 percent increase year over year.

Fourth-quarter operating profit amounted to SEK -61.5 million, compared with SEK -83.3 million in the same period of 2024. Profit after tax was SEK -65.2 million (-83.4 million), earnings per share -0.25 SEK (-0.39 SEK), and cash and cash equivalents at the end of the period SEK 82.3 million (178.5 million). For the full year, operating profit was SEK -224.7 million (-283.5 million), profit after tax SEK -249.6 million (-284.6 million), and earnings per share -1.10 SEK (-1.71 SEK).

Significant events in the fourth quarter included the publication in the Journal of Cancer Research and Clinical Oncology of exceptional long-term responses to Pepaxti, presentation of research on NK cell engagers at ASH, an Annals of Hematology expert consensus supporting the use of Pepaxti in myeloma, and research in Experimental Hematology & Oncology showing Pepaxti is effective in high-risk myeloma.

The company's CEO said: "This performance reflects a healthy demand for Pepaxti, particularly in Italy where the launch has exceeded our initial expectations. Going into 2026, our Peptide-Drug Conjugate (PDC) platform pipeline assets will progress beyond multiple myeloma into other diseases, potentially enabling significant future potential." The CEO also said that the successful yet complex market access processes in Spain and Italy were achieved ahead of schedule, requiring significant investments earlier than originally assumed to ensure proper team build-up. While growth in Europe overall remains robust year-over-year, sales during the second half of the year were muted by slower-than-expected uptake in Germany and a medical doctors' strike in Spain during Q4. Consequently, the company has adjusted expectations and now anticipates reaching positive cash flow in 2027. By streamlining the organization focused on high-potential areas, the company aims to reach country-level profitability in Germany during 2026.

Negotiations for the Japanese market have recently focused in on one well-established, sizable pharmaceutical company, and have progressed into formal contracting discussions. As previously communicated, the timeline is dependent on external factors, making it difficult to estimate when a deal can be closed. After the reporting period, Oncopeptides announced Q4 2025 sales and updated cash-flow expectations, and announced a rights issue.