AcuCort AB

ACUC.ST

Drug Manufacturers - Specialty & Generic · Healthcare

Price

kr 0.54

-0.02 (-3.55%)

Market Cap

kr 127.5M

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Share count rising — dilution

+203.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 39.3M (2021) → 119.0M (2025)

Winston Score History

The full picture

AcuCort AB is a small Swedish pharmaceutical company that makes a drug called Zeqmelit. Zeqmelit is a dissolving tablet form of dexamethasone, a steroid medicine that doctors use to treat sudden allergic reactions and other conditions that need fast treatment. The company sells to hospitals, clinics, and pharmacies, mainly in Sweden and other European markets.

AcuCort makes money by selling Zeqmelit directly to healthcare providers and through distribution partners. The company is very small, with a market value of around $0.2 billion, and it is still in the early stages of building sales after receiving regulatory approval. The gross margin looks high because drug manufacturing costs are low relative to price, but the deeply negative operating margin shows the company is spending far more on sales and administration than it earns in revenue right now. The key question for AcuCort is whether it can grow Zeqmelit sales fast enough across Europe to reach profitability before it needs to raise more money.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+614.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-16.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

kr 0/ year

0.0% of revenue

Below sector average (18%)

Research and development spending

Insider Activity

0.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~3 months

kr 10M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

AcuCort AB grew revenue 615% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

0.0%

Thin — 0.0% gross margin

Profit after running costs

Operating Margin

-711.1%

Losing money on operations — -711.1%

Return on the money invested

ROCE

-56.3%

Weak — -56.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+100.1%

Fast-growing sales (+100.1% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-1717.7%

Burning cash (-1717.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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