User

Biovica International AB (publ)

BIOVIC-B.ST

Biotechnology · Healthcare

Price

kr 0.35

+0.00 (+0.29%)

Market Cap

kr 64.1M

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Winston Score below 40. The stock fails on most of our quality checks.

Biovica International is a Swedish biotech company that makes a blood test used to monitor cancer treatment. Its main product is called DiviTum TKa, which measures how fast cancer cells are dividing in a patient's body. Doctors and hospitals use this test to track whether a treatment is working, mainly in breast cancer patients.

The company earns revenue by selling its diagnostic tests to hospitals, clinics, and research institutions, primarily in Europe and the United States. Biovica is small, with a market cap around $100 million, and it is still in an early commercial stage — meaning it spends far more money than it brings in, which explains its deeply negative margins. The key growth driver is wider adoption of DiviTum TKa as a standard monitoring tool in oncology, but the main risk is that the company may struggle to generate enough revenue to sustain operations without raising additional capital.

Winston Score History

Growth Profile

For growth stock investors

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Revenue Growth

+45.7% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+73.4% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

4.0%ownership

Relatively low insider ownership

Cash Runway

~23 months

$88M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Strong grower

Biovica International AB (publ) is growing revenue at 46% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

-541.7%

Thin — -541.7% gross margin

Operating Margin

-541.7%

Losing money on operations — -541.7%

ROCE

-16.4%

Weak — -16.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+34.0%

Fast-growing sales (34.0% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-617.6%

Burning cash (-617.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.03

Conservative — low debt load (0.03)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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