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IRLAB Therapeutics AB (IRLAB-A) Fair Value & Analysis

Healthcare · SE · Market cap 121M SEK (≈ $12.7M) · ISIN SE0012675361

What is IRLAB Therapeutics AB really worth?

IT IRLAB Therapeutics AB IRLAB-A · ST
Pricekr 1.71
Fair Valuekr 0.4420
Upside−74.2%
Quality26/100

Below-average quality, and trading another 287% above our fair value of kr 0.4420.

As of Aug 22, 2026, the fair value of IRLAB Therapeutics AB is kr 0.4420 per share against a price of kr 1.71, so the fair value sits 74% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Weak Growth (revenue 5y +186.1 %/yr)
!Loss-making · -72.4% net margin
!Low debt · negative free cash flow
!Mixed vs. peers (6/11)
!Narrow moat 28/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range kr 0.2465 – kr 0.6120

Fair value as of: Aug 22, 2026

From 3 valuation models · updated 14 days ago

Share price +25.9% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (kr 0.6120). The favourable scenario is already priced in.
  • Weak quality (26/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (kr 0.2465 to kr 0.6120) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

kr 70.00 kr 1.20 Fair Value kr 0.4420 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.

How to read this chart

60‑month range kr 1.20 – kr 70.00 · fair‑value band kr 0.2465 – kr 0.6120 · the kr 1.71 price screens above the kr 0.4420 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 22, 2026.

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Analysis

IRLAB Therapeutics AB (IRLAB-A) currently trades at kr 1.71, while our model-based Fair Value estimate is kr 0.4420, implying the stock looks roughly 286.8% overvalued today. The Quality Score stands at 26/100 (below-average quality), in the Healthcare sector. Bull case: the Dividend Discount group reads highest at a median of kr 0.4100 per share, and 0 of the 3 models we run sit above the kr 1.71 price. Bear case: the Asset-Based group reads lowest at kr 0.2400, and 3 of the 3 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, IRLAB Therapeutics AB generated revenue of 92.5M SEK at a net margin of −72.4%. The balance sheet holds a net cash position of 51.9M SEK. Fundamentals as of Aug 22, 2026

Our scenario range runs from kr 0.2465 (bear case) to kr 0.6120 (bull case); at kr 1.71, 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 77% below its 52-week high and 46% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −59% fair-value upside, at −74%, IRLAB-A screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
Gordon GGM kr 0.2600 kr 0.4300 kr 0.5600 64
DDM Multi-Stage kr 0.2600 kr 0.4100 kr 0.4700 64
NCAV (Graham) kr 0.1800 kr 0.2400 kr 0.3500 54
All 3 models by family
Dividend Discount
Gordon GGM kr 0.2600 kr 0.4300 kr 0.5600 64
DDM Multi-Stage kr 0.2600 kr 0.4100 kr 0.4700 64
Asset-Based
NCAV (Graham) kr 0.1800 kr 0.2400 kr 0.3500 54

Widest divergence: Dividend Discount (kr 0.4100) versus Asset-Based (kr 0.2400). Highest evidence: Gordon GGM (64).

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Key figures & financial health

P/S ratio 1.31 TTM
EPS (TTM) kr −0.8600
Dividend yield 3.0%
Net margin −72.4% TTM
Return on equity −301% TTM
Return on assets (EBIT) −49.6% avg 5y
More key figures
Profitability
Operating margin 27.3% TTM
Growth
Revenue (TTM) 92.5M SEK TTM
Revenue growth (YoY) +803% 3y avg −2.0%
Balance sheet & cash flow
Free cash flow −55.2M SEK FY2025
Net cash 51.9M SEK FY2025

Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 26/100

Of which business quality 26 · Market factors (momentum, volatility) 40

Profitability 5
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 25
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 11
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

IRLAB Therapeutics AB (publ) discovers and develops drugs for the treatment of Parkinson's disease and other central nervous system (CNS) disorders in the United States.

Full company description

IRLAB Therapeutics AB (publ) discovers and develops drugs for the treatment of Parkinson's disease and other central nervous system (CNS) disorders in the United States. The company develops Mesdopetam (IRL790), which has completed both a Phase IIb clinical trial for the treatment of levodopa-induced dyskinesias, and a Phase I clinical trial for the treatment of Parkinson's disease psychosis; Pirepemat (IRL752), which is in a Phase IIB clinical trial to reduce the risk of falling and falls in Parkinson's disease, and in a Phase IIA clinical trial for dementia in Parkinson's disease; and IRL757, which is in a Phase I clinical trial for the treatment of apathy in Parkinson's and other neurological disorders. It is also developing products in the preclinical stage, such as IRL942, an oral tablet for the treatment of cognitive deficits in Parkinson's and other neurological disorders; and IRL1117, an oral treatment for the hallmark symptoms of Parkinson's. In addition, the company develops P003, a research project that discovers and develops dopamine D1 and D2 receptor agonist compounds for the treatment of Parkinson's core motor symptoms. IRLAB Therapeutics AB (publ) was incorporated in 2013 and is headquartered in Gothenburg, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

IRLAB Therapeutics AB reported revenue of 57.5M SEK in FY2025 versus 208M SEK in FY2021, a compound −27.5%/yr. Reported net income was −110M SEK in FY2025.

Growth Quality 30/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
57.5M SEK
Latest YoY
−39.3%
Avg. revenue 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.
−2.0%
Avg. revenue 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.
+186.1%
Avg. revenue growth/yr (11Y) 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.
+88.4%
EBIT margin (trend) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−30,486.0% (2020) → −160.7% (2025)
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −27.5%/yr
FY21 208M SEK
FY22 61.1M SEK
FY23 5.7M SEK
FY24 94.6M SEK
FY25 57.5M SEK
Net income
FY21 51.8M SEK
FY22 −114M SEK
FY23 −178M SEK
FY24 −83.1M SEK
FY25 −110M SEK

IRLAB-A screens 287% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "IRLAB Therapeutics AB Fair Value". https://www.fairvalue-calculator.com/stock/IRLAB-A

Peer Group

Biotechnology · 625 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 26 · Bottom 25%
Fair Value upside −74% · Bottom 25%
Return on assets −20% · Below median
Net margin (TTM) −72% · Bottom 25%
Operating margin (TTM) 27% · Top 25%
Revenue growth 803% · Top 25%
Dividend yield (TTM) 3.0% · Above median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/B 0.41× · Cheaper than 75% of peers
P/S (TTM) 0.14× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 0
PAST0 · sector 0
HEALTH100 · sector 98
DIVIDEND60 · sector 26

VALUE 0: the price sits above our fair-value range.

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

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $547.55 $278.78 −49%
Regeneron Pharmaceuticals, Inc REGN $807.71 $594.40 −26%
argenx SE ARGX €877.60 €292.84 −67%
Samsung Biologics Co 207940 1,518,000 KRW 1,055,793 KRW −30%
Alnylam Pharmaceuticals, Inc ALNY $228.61 $51.70 −77%
Royalty Pharma plc RPRX $60.58 $24.22 −60%
Celltrion, Inc 068270 190,700 KRW 74,519 KRW −61%
BeOne Medicines AG ONC $362.51 $111.35 −69%
BioNTech SE BNTX $111.40 $45.66 −59%
Incyte Corporation INCY $123.22 $115.79 −6%

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Frequently asked questions

Is IRLAB Therapeutics AB (IRLAB-A) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of kr 0.4420 versus a price of kr 1.71, about −74% upside (overvalued).
What is the fair value of IRLAB-A?
Our model-based fair value for IRLAB Therapeutics AB is kr 0.4420 (as of Aug 22, 2026), built from audited fundamentals. The current price: kr 1.71.
What is the quality score of IRLAB-A?
IRLAB Therapeutics AB has a Quality Score of 26/100. 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 IRLAB Therapeutics AB (IRLAB-A)?
IRLAB Therapeutics AB reported trailing-twelve-month revenue of about 92.5M SEK (latest available figure, as of Aug 22, 2026).
What is the net profit margin of IRLAB-A?
The net profit margin of IRLAB Therapeutics AB is about −72.4%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does IRLAB Therapeutics AB pay a dividend?
IRLAB Therapeutics AB currently shows a dividend yield of about 2.99% relative to its recent price (as of Aug 22, 2026).
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