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2cureX AB (2CUREX) Fair Value & Analysis

Healthcare · SE · Market cap 45.9M SEK

2A 2cureX AB 2CUREX · ST
Pricekr 1.65
Fair Valuekr 0.1700
Upside-89.7%
Quality45/100
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Weak Growth
Thin margins · 0.0% net margin
negative free cash flow
Mixed vs. peers (4/9)
Narrow moat 10/100
Evidence: Low Range kr 0.1105 – kr 0.2125 Share as image

Fair value as of: Jul 16, 2026

From 1 valuation models · updated 25 days ago

Share price −11.5% over the past month.

Below-average quality, and screening another 90% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 0.2125). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (kr 0.1105 to kr 0.2125) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 23.38 kr 0.2532 Fair Value kr 0.1700 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range kr 0.2532 – kr 23.38 · fair‑value band kr 0.1105 – kr 0.2125 · the kr 1.65 price screens above the kr 0.1700 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

2cureX AB (2CUREX) currently trades at kr 1.65, while our model-based Fair Value estimate is kr 0.1700, implying the stock looks roughly 89.7% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Trailing-twelve-month revenue stands at 2.0M SEK. Revenue declined 63.1% year over year. The balance sheet holds a net cash position of 5.1M SEK. Fundamentals as of Jul 16, 2026

Our scenario range runs from kr 0.1105 (bear case) to kr 0.2125 (bull case); at kr 1.65, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 69% below its 52-week high and 222% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -90%, 2CUREX screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
NCAV (Graham) kr 0.1000 kr 0.1400 kr 0.2000 50
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.1000 kr 0.1400 kr 0.2000 50

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Key figures & financial health

Revenue (TTM) 2.0M SEK
Revenue growth (YoY) -63.1%
Return on equity -175%
Free cash flow −4.6M SEK FY2024
Operating margin -1,924%
EPS (TTM) kr -0.4200
More key figures
Net cash 5.1M SEK FY2024

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 53 · Market factors (momentum, volatility) 15

Profitability 0
Margins and returns on capital today
Quality Growth 15
Are margins and returns improving?
Cashflow 92
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

2cureX AB (publ) operates as a medical technology company in Europe. ts proprietary IndiTreat test family creates various three-dimensional tumoroids derived from fresh samples of colorectal cancer (CRC) tissue that has been obtained from an individual patient's metastatic colorectal cancer.

Full company description

2cureX AB (publ) operates as a medical technology company in Europe. ts proprietary IndiTreat test family creates various three-dimensional tumoroids derived from fresh samples of colorectal cancer (CRC) tissue that has been obtained from an individual patient's metastatic colorectal cancer. 2cureX AB (publ) was incorporated in 2006 and is based in Landskrona, Sweden.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2020 – FY2025 · reported fiscal years

2cureX AB reported revenue of kr 0 in FY2024 versus kr 15.4M in FY2020. Reported net income was −kr 2.6M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2023)
155K SEK
Latest YoY
+72.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−78.4%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−54.2%
Avg. growth/yr (8Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−28.4%
Revenue
FY20 kr 15.4M
FY21 kr 7.4M
FY22 kr 90.0K
FY23 kr 155K
FY24 kr 0
Net income
FY21 −kr 18.9M
FY22 −kr 29.8M
FY23 −kr 32.5M
FY24 −kr 4.1M
FY25 −kr 2.6M

2CUREX screens 90% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "2cureX AB Fair Value". https://www.fairvalue-calculator.com/stock/2CUREX

Peer Group

Biotechnology · 601 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 53 · Above median
Fair Value upside −90% · Bottom 25%
Return on assets -98% · Bottom 25%
Net margin (TTM) 0% · Above median
Revenue growth -63% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Biotechnology median · lower = cheaper

P/B 0.95× · Cheaper than median
P/S (TTM) 2.45× · Cheaper than median

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $486.03 $278.78 -43%
Regeneron Pharmaceuticals, Inc REGN $664.45 $594.40 -11%
Samsung Biologics Co 207940 1,368,000 KRW 1,091,384 KRW -20%
Celltrion, Inc 068270 175,800 KRW 76,325 KRW -57%
WuXi Biologics (Cayman) Inc 2269 HK$39.54 HK$30.42 -23%
Innovent Biologics, Inc 1801 HK$86.70 HK$19.66 -77%
Sino Biopharmaceutical Limited 1177 HK$5.26 HK$3.36 -36%
ALTEOGEN Inc 196170 276,500 KRW 44,444 KRW -84%
RemeGen Co 688331 ¥134.02 ¥26.99 -80%
Biocon Limited BIOCON ₹440.70 ₹57.36 -87%

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Frequently asked questions

Is 2cureX AB (2CUREX) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of kr 0.1700 versus a price of kr 1.65, about −90% (overvalued).
What is the fair value of 2CUREX?
Our model-based fair value for 2cureX AB is kr 0.1700 (as of Jul 16, 2026), built from audited fundamentals. The current price is kr 1.65.
What is the quality score of 2CUREX?
2cureX AB has a Quality Score of 45/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of 2cureX AB (2CUREX)?
2cureX AB reported trailing-twelve-month revenue of about 2.0M SEK (latest available figure, as of Jul 16, 2026).
What is the net profit margin of 2CUREX?
The net profit margin of 2cureX AB is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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