Iconovo (ICO) Q3 2026 earnings summary

Executive summary

• Licensing discussions for ICOres and ICOpre advanced; securing at least one near-term agreement remains critical to commercial progress and financing.

• Net sales rose sharply on development income, while operating losses narrowed and costs remained under tight control.

Financial highlights

• Q3 net sales were TSEK 707 vs 7; 9M net sales increased 219% to TSEK 1,917 vs 601, exceeding FY2025 sales by 73%.

• Q3 operating loss narrowed to TSEK 6,770 vs 8,828; 9M operating loss improved to TSEK 24,081 vs 30,173.

• Net loss was TSEK 6,809 in Q3 vs 8,863 and TSEK 24,274 in 9M vs 30,396.

• 9M total costs declined 15% to TSEK 29,155; personnel costs fell 34% to TSEK 14,312, while raw-material costs rose to TSEK 4,213 from 1,933.

Outlook and guidance

• Management aims to conclude at least one ICOres or ICOpre partner discussion in the near term; successful transactions are expected to materially support revenue and financing.

• Based on budgets and business outlook, sufficient funding is expected for the next 12 months if anticipated near-term transactions are finalized successfully.

• Oxytocin development for postpartum haemorrhage awaits a Gates Foundation funding decision; GLP-1 preclinical work was scheduled for evaluation later in autumn 2026.