Mendus AB (publ)

IMMU.ST

Biotechnology · Healthcare

Exchange

Stockholm 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

Mendus AB is a Swedish biotechnology company focused on developing cancer treatments that work with the immune system. Instead of traditional chemotherapy, Mendus is building therapies designed to teach a patient's own immune cells to recognize and attack cancer cells. Its main program, vididencel, targets acute myeloid leukemia (AML), a serious blood cancer, and is aimed at preventing the disease from coming back after initial treatment.

Mendus makes no product revenue yet, as all its treatments are still in clinical trials. The company is based in Stockholm, Sweden, and is listed on Nasdaq Stockholm. It funds its operations through grants, partnerships, and by raising money from investors, which is typical for early-stage biotech companies. With a negative ROIC and zero gross margin, Mendus is burning cash while it runs trials, and its biggest risk is whether clinical data will be strong enough to attract a larger pharmaceutical partner or support regulatory approval.

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

-100.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+44.3% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

10.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~11 months

kr 74M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Mendus AB (publ) 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

N/A

Data not available

Profit after running costs

Operating Margin

N/A

Data not available

Return on the money invested

ROCE

-19.9%

Weak — -19.9% 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

-100.0%

Shrinking sales (-100.0% YoY)

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

N/A

Data not available

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Stability

What it owes vs what it owns

Debt / Equity

0.00

Conservative — low debt load (0.00)

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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