Formycon Q1 Revenue Doubles, EBITDA Loss Narrows
Formycon Q1 Financial Results
Germany-based biosimilars developer Formycon reported Q1 2026 revenue more than doubled year-over-year, driven by milestone payments and commercialization gains. The company's EBITDA loss narrowed sharply compared to the prior year.
EBITDA Performance
The improvement in EBITDA was primarily due to lower R&D and structural costs. Formycon confirmed its 2026 guidance for revenue and EBITDA.
Revenue Outlook
Formycon expects 2026 revenue between €60 million and €70 million, with consolidated EBITDA between €0 and €10 million.
Growth Drivers
Milestone payments for FYB202 and FYB206, along with commercialization of biosimilars (EU launch of FYB203 and U.S. progress for FYB202), were key revenue drivers. Cost management also contributed to improved earnings.
Analyst Coverage
The average analyst rating is 'buy', with 7 'strong buy' or 'buy', 1 'hold', and no 'sell' recommendations. The median 12-month price target is €37.00, representing an 82.7% upside from the May 27 closing price of €20.25.
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