IMMNOVNasdaq StockholmHealth CareIFRS · SEK

Immunovia

Immunovia AB is a diagnostic company focused on increasing survival rates for patients with pancreatic cancer through early detection. The company specializes in developing and commercializing blood-based tests that detect proteins and antibodies indicative of pancreatic cancer in high-risk individuals. Immunovia collaborates with healthcare providers, leading experts, and patient advocacy groups to make its tests widely available. The company's shares are listed on Nasdaq Stockholm, and it is headquartered in Lund, Sweden.

Revenue0.4m SEK
−62.0 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-300-200-1000100m SEK20202021: 0.96 m SEK2021: EBIT -167 m SEK20212022: 1.2 m SEK2022: EBIT -191 m SEK20222023: 1.8 m SEK2023: EBIT -296 m SEK20232024: 0.93 m SEK20242025: 0.35 m SEK20250.35
RevenueOperating profit (EBIT)

Business

Share of revenue
Diagnostic Tests70 %

Blood-based tests for detecting pancreatic cancer

Clinical Data Services20 %

Services providing clinical data and testing results

Strategic Partnerships10 %

Collaborations for commercialization and distribution

Customers

Immunovia's primary customers are healthcare providers and medical centers that focus on high-risk pancreatic cancer surveillance. These customers integrate Immunovia's PancreaSure test into their surveillance protocols to enhance early detection capabilities. The company also targets strategic partners in the diagnostics industry to expand its commercial reach and accelerate market penetration. Additionally, Immunovia engages with patient advocacy groups to raise awareness and promote the adoption of its testing solutions.

Healthcare Providers

Purchase PancreaSure for early detection in high-risk patients

Medical Centers

Integrate tests into surveillance protocols

Diagnostics Companies

Collaborate for commercialization and distribution

Patient Advocacy Groups

Support awareness and adoption of testing solutions

Strategy

Immunovia's strategic priorities include the commercialization of its PancreaSure test, securing strategic partnerships, and achieving reimbursement for its tests. The company focuses on targeted launches in the US market, leveraging relationships with top pancreatic cancer specialists to drive adoption. Immunovia is actively seeking a strategic partner to expand its commercial reach and accelerate market penetration. The company is also conducting additional clinical studies to secure reimbursement and enhance its competitive position.

Commercialize PancreaSure testShort term

To increase market penetration and revenue

Secure strategic partnershipsMedium term

To expand commercial reach and reduce costs

Achieve reimbursementMedium term

To enhance test adoption and financial sustainability

Geography

Immunovia is headquartered in Lund, Sweden, and its primary market is the United States, which is the largest market for pancreatic cancer detection. The company estimates that 1.8 million individuals in the USA are at high risk for pancreatic cancer and could benefit from annual surveillance testing. Immunovia's strategic focus includes expanding its presence in the US through partnerships and collaborations with major medical centers. The company also explores opportunities for global distribution through strategic partners outside the US.

Risks

Immunovia faces several operational and financial risks, including the development and validation of new tests, dependence on collaboration partners, and market acceptance challenges. The company is also exposed to currency risks due to its international operations, primarily related to USD and EUR fluctuations. Additionally, there are risks related to securing reimbursement and competition in the diagnostics industry. Liquidity risk is managed through careful cash flow planning and securing necessary funding.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Development and validation of new tests1Market acceptance and reimbursement2Currency risks3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Development and validation of new testsImpact: HighLikelihood: High

    Critical for product success and market entry

  2. Market acceptance and reimbursementImpact: HighLikelihood: High

    Essential for revenue generation and growth

  3. Currency risksImpact: MediumLikelihood: Low

    Exposure to USD and EUR affects financial results

Accounting

Judgemental items
Revenue recognition

Affects timing and accuracy of reported revenue

Impact: high

Lease accounting

Impacts financial liabilities and cash flow

Impact: medium

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

Immunovia (IMMNOV) Revenue, Earnings & Financials 2025 – Clarifo