Oncopeptides (ONCO) Q3 2026 earnings summary

Executive summary

• Q3 net sales reached SEK 28.5m, up 41% YoY; 9M sales were SEK 84.9m, up 61%, and trailing-12-month sales exceeded SEK 100m.

• Positive cash flow from European Pepaxti commercial operations remains targeted for 2027.

• CHMP recommended third-line Pepaxti use; initial INSULA data showed blood-brain-barrier penetration in glioblastoma patients.

Financial highlights

• Q3 net sales were SEK 28.5m vs SEK 20.2m; gross profit was SEK 28.0m vs SEK 19.9m.

• Q3 operating loss was SEK 36.5m vs SEK 47.1m and net loss SEK 44.0m vs SEK 60.9m; 9M net loss was SEK 130.9m vs SEK 184.4m.

• 9M gross margin was 98%; reported operating expenses were SEK 64.5m in Q3 and SEK 205.9m for 9M.

• Q3 operating cash outflow was SEK 37.7m vs SEK 33.7m; 9M outflow was SEK 126.1m vs SEK 156.4m.

Outlook and guidance

• Positive cash flow from Pepaxti commercialization remains targeted for 2027; third-line expansion would support, but is not required for, the target.

• European Commission decision on third-line expansion was expected in Q4 2026; a German access dossier was planned within ~1 month of approval, with Italy and Spain launch preparations underway.

• FY 2026 operating costs were expected near the just-below-SEK 300m benchmark; Q4 sales were not formally forecast and expectations assumed no unexpected events.

• Third-line use could double the addressable European patient population and treatment cycles, subject to approval.