Circio Holding ASA

CRNA.OL

Biotechnology · Healthcare

Exchange

Oslo Stock Exchange

Winston Score

–

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We couldn’t gather enough financial data to score this stock reliably.

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Winston Score History

The full picture

Circio Holding ASA is a Norwegian biotechnology company that develops gene therapy treatments. The company focuses on a technology called ciRNA (circular RNA), which is designed to deliver genetic instructions inside the body to treat serious diseases. Its main targets are cancer and other conditions where standard medicines have limited options, and its customers would eventually be hospitals and patients in clinical settings.

Circio makes no product revenue yet — it is in the research and development stage, which explains the deeply negative operating margins. The company is based in Oslo, Norway, and operates at a small scale typical of early-stage biotech firms. Its potential moat lies in its proprietary circular RNA platform, which it believes is more stable and longer-lasting than traditional mRNA approaches. The key risk is that most experimental therapies fail in clinical trials, and Circio will need significant additional funding to advance its pipeline toward any approved product.

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

YoY Growth Rate

Revenue data limited

EPS Growth

-503.2% YoY

YoY Growth Rate

Earnings declining

Insider Activity

40.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~1 months

kr 6M cash & investments

Quarterly Free Cash Flow

Short runway — potential dilution ahead through share issuance

Cash watch

Circio Holding ASA has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

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Quality

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

-4134.4%

Losing money on operations — -4134.4%

Return on the money invested

ROCE

N/A

Data not available

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Growth

Sales growth

Sales YoY

N/A

Data not available

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-1137.5%

Burning cash (-1137.5%)

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

no trend

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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