Intervacc AB (publ) IVACC
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The news check keeps the assessment current.
General analysis — not personal advice.
Existing position can be maintained pending Q3 report and EMA decision.
Positive real-world data and ongoing studies are balanced against weak sales and high burn rate, supporting the neutral signal.
The market reacts to the weaker quarter but positive efficacy data keeps sentiment stable.
HOLD is the call. Positive is the market mood. High risk means a lot can go wrong.
Latest change
- 13 Nov 2026 — Report shows continued weak sales but strong real-world data for Strangvac after 100,000 doses.
The full analysis is open. Follow the company free for the full change history — and email next time the picture changes.
Show all changes (2) — follow the company freeAbout the company
Intervacc develops and commercializes recombinant protein vaccines for animal health. The lead product Strangvac is approved in Europe against strangles in horses. The company is in an early commercialization phase with ongoing losses.
Bull case
Real-world data after 100 000 doses confirms near 100 % protective effect and strengthens the case for increased European sales and US partnership.
Bear case
Revenue declined in the first half and losses increased, continuing to pressure cash despite the positive data.
Sensitivity analysis
| Factor | If it weakens | If it strengthens |
|---|---|---|
| Strangvac sales | Flat or declining sales → continued high burn rate and earlier financing need. | Strong sales growth → improved cash flow and reduced dilution risk. |
| EMA decision on 12-month immunity | Rejection or prolonged process → limited commercial acceptance in Europe. | Approval → annual vaccination possible and higher sales volume. |
Why this signal
Positive real-world data and ongoing studies are balanced against weak sales and high burn rate, supporting the neutral signal.
Recent news
Q3 report published 12 November with revenue 4.6 MSEK and operating result -27.2 MSEK including 6.4 MSEK inventory write-down. Strangvac continued to show strong real-world data with only three confirmed cases after 100 000 doses. The share fell 11–12 % on the report.