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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.
Gubra
Gubra (GUBRA) investor relations material
Gubra Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary9 Nov, 2026
Executive summary
Q3 was the second-best quarter financially, supported by milestone payments from two partnered obesity programs and stronger CRO profitability.
ABBV-295 and BI 3034701 entered Phase 2; GUB-UCN2 began a Phase 1/2a trial, with a 2030 strategy targeting 8–10 clinical-stage assets.
Financial highlights
Q3 revenue was DKK 447.7m and EBIT DKK 317.7m, versus DKK 99.1m and EBIT DKK -6.1m in Q3 2025; segment structure changed in 2026.
9M revenue was DKK 574.1m and EBIT DKK 194.8m; 9M 2025 comparisons are not directly comparable following the 2026 business-unit setup.
Q3 Biotech revenue was DKK 394.9m and EBIT DKK 303.2m, primarily driven by USD 50m and EUR 10m milestone payments.
On an adjusted basis, 9M Biotech revenue was DKK 425m versus DKK 2.4bn in 9M 2025, while adjusted EBIT was DKK 183m versus DKK 2.3bn; prior-year revenue included AbbVie's Q2 upfront payment.
CRO Q3 external revenue was DKK 51.8m, up 6% YoY and QoQ; adjusted EBIT was DKK 18m, with 9M external revenue of DKK 148m and adjusted EBIT of DKK 19m.
Outlook and guidance
FY2026 CRO external revenue growth guidance narrowed to 2–6% from 0–10%; EBIT margin guidance narrowed to 10–13% from 10–15%.
FY2026 Biotech cost guidance decreased to DKK 315–335m from DKK 330–360m, primarily due to cost timing; Ventures and Gubra Green EBIT guidance remains DKK -5m to -10m each.
Around DKK 50m of CRO studies are expected to be performed for Biotech in 2026 and are excluded from the CRO outlook; mid-term CRO targets are 10% annual revenue growth and a 15% EBIT margin.
H1 2027 milestones include GUB-UCN2 SAD topline data and MAD initiation, potential ABBV-295 Phase 1b topline data, and HMB-003 Phase 1 initiation.
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Latest events from Gubra
- Phase 2 milestones lifted Q3 as CRO margins reached 25% and GUB-UCN2 entered clinical testing.GUBRA
Q3 2026 - GUB-UCN2 leads a capital-disciplined plan to expand the pipeline by 2030.GUBRAR&D Day 2026
- Strong clinical pipeline, strategic partnerships, and expansion beyond obesity drive future growth.GUBRAMorgan Stanley 24th Annual Global Healthcare Conference
- AI-driven peptide platform and clinical pipeline drive growth, with key assets advancing in obesity.GUBRAInvestor presentation
- Revenue dropped post-AbbVie deal, but CRO grew 11% and clinical pipeline advanced.GUBRAQ2 2026
- H1 2026 saw sharp revenue decline but strong R&D, CRO growth, and steady guidance.GUBRAQ2 2026
- GUBamy showed sustained, dose-dependent weight loss and good tolerability in Phase 1 SAD.GUBRAStudy Update
- Exclusive global partnership accelerates GUBamy/GUB014295 obesity drug development with major financial terms.GUBRAPartnership
- CRO revenue surged 31% in 2024, with strong clinical progress in obesity drug development.GUBRAQ4 2024
Next Gubra earnings date
Q4 20263 Mar, 2027
Gubra
Next Gubra earnings date
Q4 20263 Mar, 2027
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Frequently asked questions
Gubra A/S is a Denmark-based biotechnology company specializing in pre-clinical contract research services and peptide-based drug discovery. The company's focus areas include metabolic and fibrotic diseases. Gubra operates through two main business segments: CRO Services and Discovery & Partnerships. It leverages advanced technology platforms and utilizes automation, robotization, digitalization, artificial intelligence, and machine learning to enhance its research capabilities. The company is headquartered in Hørsholm, Denmark, and its shares are listed on the Nasdaq Copenhagen.