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Initiator Pharma A/S

Initiator Pharma A/S

INIT.ST
Initiator Pharma A/SSE flagStockholm Stock Exchange
2.77
SEK
-0.02
- -
189.61MMarket Cap
Initiator Pharma A/S
INIT.ST
(Stockholm Stock Exchange)

Recent

price

2.77

P/E

ratio

- -

div

yld

- -

ROIC.AI

2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Revenue per Share
-0.08
-0.97
-0.48
-0.32
-0.32
-0.6
-0.8
-0.44
-0.23
-0.22
-0.35
Basic EPS, GAAP
-0.03
-0.89
-0.63
-0.33
-0.29
-0.97
-0.68
-0.34
-0.22
-0.28
-0.41
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-0.03
0.67
0.77
0.38
0.53
1
0.7
0.21
0.27
0.47
0.28
Book Value per Share
-0.04
0.66
0.76
0.38
0.53
1
0.7
0.21
0.27
0.47
0.28
Tangible Book Value per Share
11
9
22
26
27
35
48
52
56
62
65
Basic Weighted Avg Shares
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
-1
-9
-10
-8
-9
-21
-38
-23
-13
-14
-23
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
-1
6
16
10
14
48
47
27
15
32
25
Working Capital
- -
- -
- -
- -
- -
13
13
15
- -
2
8
LT Debt
- -
6
17
10
14
35
34
11
15
30
18
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
-91.39
-62.6
-71.53
-85.27
-111.44
-101.24
-99.69
-61.75
-149.95
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
2
2
8
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
68
68
68
Market Capitalization
136
127
141

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
37
34
27
Cash, Cash Equivalents & STI
29
26
20
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
2
2
1
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
41.04%
99.88%
Free Cash Flow
- -
57.58%
46.76%
Net Income, GAAP
- -
29.32%
5.84%
Sales/Revenue/Turnover
- -
- -
- -
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.08
-0.09
-0.06
-0.02
-0.23
2025
-0.05
-0.07
-0.06
-0.04
-0.22
2026
-0.17
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Initiator Pharma A/S is a Denmark-based clinical-stage biotechnology company that develops innovative monoamine reuptake inhibitor (MRI) drug candidates targeting unmet medical needs in the central and peripheral nervous system, with a primary focus on sexual dysfunction, neuropathic pain, and women's health disorders such as vulvodynia. Founded in 2016 and headquartered at Ole Maaloes Vej 3 in Copenhagen, the company advances a pipeline including pudafensine (IPED2015/IP2015), a dopamine-selective MRI that has completed Phase IIb trials for treatment-resistant organic erectile dysfunction and Phase II for neuropathic pain, and is advancing into a Phase IIa trial for vulvodynia starting in the second half of 2025; IP2018, a triple MRI that completed Phase IIa for psychogenic erectile dysfunction associated with depression, anxiety, or related therapies; IP2016 and IP2017 in preclinical development for depression, pain, and additional indications including female sexual dysfunction. These candidates modulate key neurotransmitters like dopamine, noradrenaline, and serotonin to address conditions where existing therapies such as PDE5 inhibitors fail 30-40% of patients, targeting global markets affected by 322 million cases of erectile dysfunction by 2025 and 27 million cases of vulvodynia in the US and Europe. Recent developments include a May 2025 rights issue raising approximately SEK 48.3 million (86% subscribed), a financing agreement with MAC Clinical Research for up to GBP 2.5 million to support the vulvodynia Phase IIa trial, expansion of the female sexual dysfunction program to prioritize vulvodynia and postmenopausal women, an application in September 2025 to initiate the vulvodynia study, and a November 2024 capital increase under the LTI2023 long-term incentive program issuing 108,500 new shares to executive management. The company operates primarily from Denmark with international clinical trial collaborations and pursues business development partnerships to advance its assets toward commercialization.