Vicore Pharma Holding AB (publ) VICO
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Full analysis: 6 Apr 2026
Latest news check: 20 Jul 2026
General analysis — not personal advice.
HOLD
7/10
Confidence
Maintain existing position; consider adding only on clear data points or a material price dip without fundamental deterioration.
Full recruitment of ASPIRE reduces near-term execution risk and the company maintains solid funding, but the key value driver remains binary with a long timeline to data.
Market sentiment
7/10
↑
Trend: Improving
Sentiment has improved modestly following the US listing and the appointment of a new CSO, yet the market remains focused on binary risk ahead of ASPIRE topline in 2027.
Risk assessment
7/10
Dilution:
Medium
Pre-revenue; may need funding within 12–24 months
Jurisdiction:
Low
Sweden/US/EU, stable regulatory regimes
Execution:
High
Phase 2b with binary outcome risk
Cash flow:
24 mo
Recent changes
- A new Q1 report (May 6) adds updated cash and operating cash flow figures. It confirms ongoing losses and burn rate, while liquidity remains solid.
About the company
Vicore Pharma is a Swedish biotech company developing AT2 receptor agonists (ATRAGs) for fibrotic and respiratory diseases. Its lead candidate buloxibutid (C21) is being evaluated in the global Phase 2b ASPIRE trial in idiopathic pulmonary fibrosis (IPF). The company is pre-revenue and loss-making, but holds a strong cash position following a directed share issue.
Sector:
Drug development in fibrotic lung diseases
Type:
Biotech
Next report
21 Aug 2026
Q2
Catalysts
Unknown
ASPIRE: topline Phase 2b data
High
Unknown
US listing completed
Medium
Horizon:
Bull case
The US listing broadens the investor base and the appointment of Rob Slack from GSK strengthens credibility for the ATRAG platform.
Bear case
Valuation remains binary on ASPIRE results in mid-2027 with limited news flow until then.
Signal rationale (informational)
Full recruitment of ASPIRE reduces near-term execution risk and the company maintains solid funding, but the key value driver remains binary with a long timeline to data.
Recent news
- The US listing on Nasdaq Capital Market under ticker VCRE began on 2 July 2026 via ADS without a capital raise. Rob Slack from GSK was appointed Chief Scientific Officer on 6 July. The company participated in the Leerink Therapeutics Forum on 14 July. EMA granted a product specific waiver for buloxibutid. The share closed at 11.36 SEK on 17 July.
Price & valuation
Last close
SEK 11.46
1 week
+2.5 %
3 months
+1.6 %
12 months
-3.9 %
From 52w high
-26.9 %
From 52w low
+20.9 %
Exchange
Stockholm
Type
Biotech
Sector
Drug development in fibrotic lung diseases
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.