Iconovo (ICO) Q2 2026 earnings summary

Executive summary

• Finalized a strategic collaboration agreement with Lonza to expand capabilities in inhaled biologics and vaccines, aiming for prioritized access to services and supplies.

• Appointed Anders Månsson as permanent CEO, following a successful interim period marked by capital raising and organizational transformation.

• Focused on securing out-licensing agreements for generic products based on ICOres® and ICOpreⓇ platforms, with advanced discussions ongoing.

• Progress made in other projects, including potential breakthroughs for oxytocin in ICOone® and ongoing collaborations with Aeriant and a multinational consumer products company.

Financial highlights

• Net sales for Q2 2026 were TSEK 536, up from TSEK 127 in Q2 2025; H1 2026 net sales reached TSEK 1,211, compared to TSEK 594 year-over-year.

• Operating loss for Q2 2026 was TSEK -9,314, an improvement from TSEK -10,263 in Q2 2025; H1 2026 operating loss was TSEK -17,310, compared to TSEK -21,345 year-over-year.

• Net loss for Q2 2026 was TSEK -9,373, down from TSEK -10,368 in Q2 2025; H1 2026 net loss was TSEK -17,465, compared to TSEK -21,533 year-over-year.

• Cash and cash equivalents at period end were TSEK 30,906, compared to TSEK 32,030 a year earlier.

• Shareholders’ equity increased to TSEK 149,286 from TSEK 139,387 year-over-year.

Outlook and guidance

• Management expects sufficient funding for the next 12 months, assuming successful completion of at least one major transaction in 2026.

• Top priority remains out-licensing of ICOres® and ICOpreⓇ platforms, with ambitions to secure agreements before year-end.

• Expansion into novel and reformulated products is supported by the Lonza collaboration, targeting growth in inhaled biologics and vaccines.