Xoma AB XOM B
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The news check keeps the assessment current.
General analysis — not personal advice.
The founder owns or has owned shares in this company within the past 6 months. See About.
Consider a small watch position (1-2%) and reassess after H2 2026 pilot updates.
The financing reduces near-term liquidity risk but dilution and commercialisation uncertainty present a balanced view of the case.
The market reacted positively to the directed issue that secures working capital without a heavy rights issue.
NEUTRAL is the call. Positive is the market mood. High risk means a lot can go wrong.
Latest change
- 28 Aug 2026 — The report showed continued zero revenue and negative EBITDA after the holidays, driven by low activity in pilot projects.
About the company
Xoma AB is a Swedish greentech company listed on Spotlight, developing biological industrial water treatment (FLOW) for process water, including heavy metals such as uranium. It also develops closed-loop land-based macroalgae cultivation systems (CLAS), which has been moved into the subsidiary Algonova Bio AB. The company is in pilot/commercialisation stage and is not yet profitable.
Bull case
Updates from the Boliden pilot and the Algonova Bio project could trigger rapid revaluation of the technology.
Bear case
High volatility and low liquidity on Spotlight may cause sharp moves if progress stalls.
Why this signal
The financing reduces near-term liquidity risk but dilution and commercialisation uncertainty present a balanced view of the case.
Recent news
Directed share issue of SEK 8.3 m was completed on 16 September with 22.8 million new B-shares at SEK 0.365. The share price has risen to approximately SEK 0.60–0.61 after the announcement. Progress with Boliden Rönnskär and the new Algonova Bio silicon project is highlighted.