Vicore Pharma (VICO) Q1 2026 earnings summary

Executive summary

• Completed enrollment in the global Phase 2b ASPIRE trial for buloxibutid in idiopathic pulmonary fibrosis (IPF), with topline data expected mid-2027.

• Strengthened executive team with three internal promotions to key leadership roles.

• Maintains a strong cash position, providing runway into the second half of 2028.

Financial highlights

• Revenue for Q1 2026 was SEK 0.6 million, down from SEK 0.9 million in Q1 2025, mainly from cost reimbursements under a license agreement.

• Operating loss increased to SEK 123.8 million from SEK 91.5 million year-over-year, reflecting higher R&D expenses.

• Net loss was SEK 108.6 million, slightly improved from SEK 111.5 million in Q1 2025.

• Loss per share was SEK 0.39, compared to SEK 0.48 in the prior year.

• Cash, cash equivalents, and short-term investments totaled SEK 1,059.8 million as of March 31, 2026.

Outlook and guidance

• Cash runway extends into the second half of 2028, supporting ongoing clinical development.

• Focus shifts to disciplined execution and observation phase in the ASPIRE trial, with Phase 3 preparations underway.