User

Scandinavian ChemoTech AB (publ)

CMOTEC-B.ST

Biotechnology · Healthcare

Price

kr 3.54

-0.05 (-1.39%)

Market Cap

kr 84.3M

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

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

Scandinavian ChemoTech is a Swedish medical technology company that develops devices used to treat cancer tumors. Its main product is the IQwave system, a machine that delivers a treatment called Tumor Treating Electric Pulse Therapy, which uses electrical pulses to damage cancer cells. The company sells to hospitals and cancer clinics, primarily in Europe and select international markets.

ChemoTech earns revenue by selling its IQwave devices and related consumables to healthcare providers. The company is small, with a market cap around $100 million, and is still in an early commercial stage, meaning it spends far more than it earns right now — reflected in its deeply negative operating margin. Its main competitive edge is its proprietary electrical pulse technology, but the biggest risk it faces is proving clinical effectiveness and gaining broader regulatory approvals, which are required before hospitals will adopt the treatment at meaningful scale.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+13.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+57.1% 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

45.1%ownership

Insiders own a meaningful stake in the company

Cash Runway

~9 months

$1M cash & investments

Short runway — potential dilution ahead through share issuance

Cash watch

Scandinavian ChemoTech AB (publ) has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

86.8%

Premium pricing power — 86.8% gross margin

Operating Margin

-49.3%

Losing money on operations — -49.3%

ROCE

-84.2%

Weak — -84.2% return on capital

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

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Growth

Sales YoY

+63.9%

Fast-growing sales (63.9% 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

-75.2%

Burning cash (-75.2%)

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

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Stability

Debt / Equity

N/A

Data not available

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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