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Nanoform Finland (NANOFH) investor relations material
Nanoform Finland Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary12 Nov, 2025
Executive summary
Granted a commercial cGMP manufacturing license, enabling production and quality control of nanoformed APIs for Europe and other markets, and achieved significant progress in scaling both small molecule and biologics platforms.
Expanded product kernel pipeline with new nanoformulated therapies, including partnerships for nanoencorafenib and a combination of olaparib/temozolomide, and advanced clinical and licensing stages.
Announced Asia expansion with partnerships in Japan and South Korea, strengthening commercial presence.
All 2025 near-term business targets remain on track, with a new 2026 target for cash burn below EUR 10 million and CMD set for December 16 to announce 2030 mid-term targets.
Cash burn improved due to lower costs and higher customer payments, with strong cash position at period end.
Financial highlights
Revenue for 1-9/2025 grew 9% year-over-year to EUR 2.2 million from 45 customer projects, with gross profit up to EUR 1.9 million and gross margin at 86%.
Quarterly cash burn reduced to EUR 3.9 million in Q3 2025, with annualized cash burn at approximately minus EUR 15 million.
Cash and cash equivalents at end of Q3 2025 were EUR 29.5 million, supporting a strong balance sheet.
EBITDA improved to EUR -14.1 million, and operating loss narrowed to EUR -16.6 million.
Customer payments and revenues recognized in 2025 outpace 2024 levels.
Outlook and guidance
Targeting cash burn below EUR 10 million for 2026, with improved free cash flow anticipated in 2025 versus 2024.
All 2025 near-term business targets are on track, including signing new development and license agreements.
New 2030 mid-term targets to be announced at Capital Markets Day in December.
First pivotal bioequivalence clinical study with a nanoformed medicine expected.
Expecting an uptick in project signings as pharma industry replenishes early-stage pipelines.
Kernel deal structure impact on upfront funding?
Biologics platform competitiveness post-Elektrofi?
How does GMP license boost partner confidence?
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Next Nanoform Finland earnings date
Q4 202526 Feb, 2026
Next Nanoform Finland earnings date
Q4 202526 Feb, 2026
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Frequently asked questions
Nanoform provides nanotechnology and drug particle engineering services for the pharmaceutical industry. The company offers nanoparticle milling, a mechanical fragmentation process that reduces the particle size of APIs and enables the development of more bioavailable formulations. In addition, it provides physical characterization services for nanoparticles that comprises morphological analysis, including atomic force microscopy and scanning electron microscopy; elemental chemical analysis comprising inductively coupled plasma optical emission spectroscopy; and particle size distribution analysis comprising dynamic light scattering and laser diffraction, as well as supporting analytical equipment. The company was founded in 2008 and is headquartered in Helsinki, Finland.
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