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Molecular Partners AG

MOLN
Biotechnology · Healthcare
Also trades as: MOLN.SW CHF 3.14 (+3.63%) · 0QXX.L GBP 0.03 (+1.35%)
Price
$3.67
+0.06 (+1.68%)
after-hours:$3.72+1.36%
Market Cap
$140.6M
Exchange
NASDAQ
Winston Score
–
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Share count rising — dilution

+20.2% over 4y

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

Diluted shares outstanding: 31.0M (2021) → 37.3M (2025)

§Winston Score History

The full picture

Molecular Partners AG is a Swiss biotechnology company that creates a new type of medicine called DARPins — small, engineered proteins designed to fight diseases like cancer and eye disorders. Unlike traditional antibodies, DARPins can be built to attack multiple targets at once, which makes them a distinct platform in drug development. The company partners with larger pharmaceutical firms to develop these treatments.

Molecular Partners earns money primarily through research collaboration deals, upfront payments, and milestone payments from pharmaceutical partners rather than selling approved drugs directly to patients. It is based in Zurich, Switzerland, and operates mainly in early-to-mid-stage drug development, making it a pre-commercial company with no product revenue yet. Its proprietary DARPin platform is its main competitive advantage, but the biggest risk is that its pipeline candidates could fail in clinical trials, which would put significant pressure on its limited cash reserves.

Growth Profile

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

Reported EPS Growth

+36.4% YoY

Quarterly reporting periods ended:

30 Jun 2025: CHF -0.55

30 Jun 2026: CHF -0.35

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS increased year over year

R&D Spend

CHF 40M/ year

↓ Declining (-17% vs prior year)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

0.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~19 months

CHF 68M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

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
-94.1%
Weak — -94.1% 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
4/8 quarters
Earnings inconsistent quarter-to-quarter

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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
0.05
Conservative — low debt load (0.05)
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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