Highlights January-March 2026
- Net sales and operating results for Q1 2026 in line with expectations: Net sales of 374 KSEK (139) for the period included royalties and revenues from PancreaSure tests. Operating loss was 18.4 MSEK, compared to 18.9 MSEK in the first quarter of 2025. Earnings per share before and after dilution were -0.03 SEK (-0.24).
- Cash burn lower than guidance: Cash flow from operating activities was -20.9 MSEK, reduced from -24.4 MSEK in Q1 2025. The burn rate of 7.0 MSEK per month was well below the company's previously communicated guidance of 8 to 10 MSEK per month. Savings resulted from lower spending on clinical studies. Cash and cash equivalents at the end of the period equaled 56.1 MSEK (37.7).
- Reverse share split proposal withdrawn: Following discussions with major shareholders, the Board of Directors of Immunovia AB decided to withdraw the proposal for a reverse share split of IMMNOV shares. Based on shareholder feedback, the board believed the proposal would not achieve the required two-thirds majority at the general meeting.
- California regulatory approval received: In January, Immunovia received regulatory approval from California to sell PancreaSure in the state. Also in the first quarter, Immunovia received approval in Maryland, Rhode Island, and Washington, D.C. PancreaSure is now approved for sale in 49 of 50 US states. The Company is actively pursuing approval in the state of New York.
- Sales team assembled: The Company built its initial sales team this quarter, hiring three top-performing Strategic Account Managers to join VP of Sales & Marketing Sarah DeDiemar. With deep expertise in diagnostics after successful stints at industry leaders such as Exact Sciences, Myriad Genetics and Quest Diagnostics, the new sales reps made a significant impact within weeks of their hiring.
- Payer billing initiated: In February, the Company began billing private insurance companies for PancreaSure tests. In prior months, all tests were patient self-pay. The PancreaSure test is not yet covered by commercial payers, so payer revenue is expected to be limited; however, some insurers may provide some reimbursement prior to coverage because of the substantial clinical need in pancreatic cancer. Initiating billing now also demonstrates to payers that clinicians are eager to use PancreaSure.
Significant events after the period
- Registry study launched: The company announced the launch of ASSURE, a prospective, observational post-marketing registry evaluating the real-world clinical impact of PancreaSure. The study will enroll high-risk individuals at 15-20 U.S. high-risk medical surveillance centers and is designed to show how PancreaSure influences clinician decision-making in pancreatic cancer surveillance.
"We believe Immunovia is at the beginning of a significant growth phase. With accelerating commercial adoption, expanding clinical proof, and multiple ways to scale, we are building the foundation for long-term value creation."
Jeff Borcherding, CEO and President, Immunovia AB
Conference call
Immunovia will hold a webcast teleconference at 15:00 CET on May 7 with Jeff Borcherding, CEO and President.
To participate on the call, please dial one of the numbers or watch via the web link below.
Sweden: +46 (0)8 5051 0031
United Kingdom: +44 (0) 207 107 06 13
United States: +1 (1) 631 570 56 13
Link to the webcast: https://creo-live.creomediamanager.com/d65d7d7f-0bd0-41f5-ba49-4f5d6d80ff75
For further information, please contact
Jeff Borcherding, CEO
jeff.borcherding@immunovia.com
Immunovia in brief
Immunovia AB is a diagnostic company whose mission is to increase survival rates for patients with pancreatic cancer through early detection. Immunovia is focused on the development and commercialization of simple blood-based testing to detect proteins and antibodies that indicate a high-risk individual has developed pancreatic cancer. Immunovia collaborates and engages with healthcare providers, leading experts and patient advocacy groups to make its test available to individuals at increased risk for pancreatic cancer.
USA is the world's largest market for detection of pancreatic cancer. The Company estimates that in the USA, 1.8 million individuals are at high-risk for pancreatic cancer and could benefit from annual surveillance testing.
Immunovia's shares (IMMNOV) are listed on Nasdaq Stockholm.
For more information, please visit www.immunovia.com.
This information is information that Immunovia is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-05-07 09:10 CEST.
