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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Formycon
Formycon (FYB) investor relations material
Formycon Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
Nine-month revenue doubled to €40.0m from €19.5m; reported EBITDA loss narrowed to €8.9m from €21.4m.
FYB201 and FYB202 market deterioration led to substantial non-cash impairments, expected to reduce 2026 net result by ~€121m.
FYB206’s BLA was accepted for FDA review, while FYB286 launched as a partner-funded co-development program.
Financial highlights
Nine-month revenue was €40.0m, including €20.7m milestone revenue, €9.7m royalties, €7.6m development-service recharges and €2.0m supply-management services.
Reported EBITDA improved to -€8.9m from -€21.4m; adjusted EBITDA, including Bioeq AG’s at-equity result, improved to -€14.9m from -€21.7m.
Cost of sales rose to €47.9m from €37.3m, including FYB206 development work and scheduled FYB202 amortization; R&D expense fell to €3.8m from €9.5m.
Capitalized development expenditure for FYB206 and FYB208 fell to €16.2m from €31.9m, mainly following completion of FYB206 clinical work and its PK study.
Outlook and guidance
FY2026 revenue guidance remains €60m–€70m and reported EBITDA €0m–€10m, both expected at the lower end; working-capital guidance remains €20m–€30m.
Adjusted EBITDA guidance was revised to -€15m to -€5m from €5m–€15m, reflecting weaker Bioeq AG earnings and reduced FYB201 expectations.
Q4 contributions are expected from FYB206 deferred revenue, partnerships, portfolio commercialization and development activity; recognition timing affects guidance.
FYB206’s FDA decision could come in Q3 2027; LATAM partnership revenue is included in 2026 guidance, with further partnerships and territory milestones possible in 2027.
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Latest events from Formycon
- Poised for growth with global biosimilar launches, rising revenues, and a strong pipeline.FYB
Company presentation - Biosimilar specialist with strong pipeline, confirmed 2026 outlook, and global market momentum.FYBCompany presentation
- Revenue surged to €25.8m in H1 2026, with sharply improved EBITDA and strong outlook.FYBQ2 2026
- Biosimilar launches and global partnerships drive growth, targeting profitability by 2026.FYBJefferies Global Healthcare Conference 2026
- Q1 2026 revenue more than doubled, EBITDA improved, and 2026 growth guidance is confirmed.FYBQ1 2026
- 2026 revenue and EBITDA are set to rise sharply, led by FYB202 royalties and FYB206 milestones.FYBQ4 2025
- FDA approval, pipeline progress, and strategic investment define a pivotal H1 2024.FYBH1 2024
- Q1 2025 featured key launches, lower revenue, and confirmed guidance for strong H2 growth.FYBQ1 2025
- Key biosimilar programs face U.S. market shifts, but financial and strategic outlooks remain robust.FYBInvestor Update
Next Formycon earnings date
Q4 202625 Mar, 2027
Formycon
Next Formycon earnings date
Q4 202625 Mar, 2027
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Frequently asked questions
Formycon AG is a German biotechnology company specializing in the development of biosimilars, which are biologic medical products highly similar to approved reference drugs. The company's portfolio includes biosimilars for treatments in areas such as ophthalmology and immunology, targeting chronic diseases with a high demand for cost-effective therapies. Formycon is involved in all stages of biosimilar development, from research and production to clinical trials and regulatory approval, aiming to expand access to high-quality biologics in global markets.The company is headquartered in Planegg, Germany, and its shares are listed on the Frankfurt Stock Exchange.