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The life sciences investment company Flerie reports a lower net asset value per share and a doubled net loss in the third quarter, weighed down by negative changes in the value of portfolio companies.
Net asset value amounted to SEK 3,113 million (3,918) at the end of September, corresponding to SEK 35.91 per share (50.58). During the quarter, net asset value per share decreased by 8.3% (-4.2).
Operating result was -SEK 257.6 million (-146.9).
Net profit amounted to -SEK 280.6 million (-138.5), corresponding to -SEK 3.24 per share (-1.78).
The change in value of portfolio companies amounted to -SEK 249 million (-124). During the quarter, Flerie among other things carried out a full write-down of its holding in Empros Pharma.
Cash and cash equivalents amounted to SEK 265 million (511) at the end of the period.
CEO Ted Fjällman emphasises that investments in life sciences require patience and discipline. He points out that the portfolio suffered setbacks as well as reached important milestones during the quarter, including the US FDA’s approval of Egetis Therapeutics’ drug Emcitate.
Fjällman also highlights that co-investors invested 8.1 times as much capital in the portfolio companies as Flerie itself contributed during the quarter.
The company does not provide a specific earnings forecast.
Key figures, SEK millionQ3 2026Q3 2025Year-over-year changeNet asset value3,1133,918-20.5%Net asset value per share, SEK35.9150.58-29.0%Net profit-280.6-138.5—Cash and cash equivalents265511-48.1%
