BioArctic's partner Eisai presents sales simulation of potential future sales of Leqembi® at its Investor Relations Day
Rhea-AI Summary
BioArctic (NASDAQ Stockholm: B) reported that partner Eisai presented a simulation of potential future Leqembi sales at its Investor Relations Day.
According to Eisai, simulated Leqembi sales reach around JPY 300 billion (≈SEK 17.6 billion) in FY2028, ending March 2029. The disclosure was made under EU Market Abuse Regulation rules.
AI-generated analysis. Not financial advice.
Positive
- Eisai simulates Leqembi FY2028 sales around JPY 300 billion
- Simulation implies potential Leqembi sales of about SEK 17.6 billion in FY2028
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
BIOA was down 0.78% while peers were mixed: DERM -4.47%, OGI -2.61%, but IRWD, CTOR and SXTC rose between 1.55% and 6.41%, pointing to stock-specific rather than sector-driven pressure.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| May 22 | Investor conferences | Neutral | -0.8% | Announcement of participation in upcoming healthcare investor conferences and webcasts. |
| May 15 | Leqembi sales outlook | Positive | -5.6% | Partner Eisai projected higher FY 2026 Leqembi revenue and related royalties. |
| May 13 | Earnings call invite | Neutral | +5.2% | Invitation and logistics for the Q1 2026 earnings webcast and teleconference. |
| May 08 | Earnings & pipeline | Positive | +0.9% | Q1 2026 results, positive BGE-102 Phase 1 data and strengthened cash runway. |
| May 08 | Regulatory update | Neutral | +0.9% | FDA extended Leqembi Iqlik sBLA PDUFA date to August 24, 2026 after major amendment. |
Recent news generally aligned with price moves, but the prior positive Leqembi revenue projection on May 15 coincided with a notable selloff, suggesting some market skepticism around partner sales projections.
Over the last few months, BIOA has reported several partner- and pipeline-related milestones. On May 15, 2026, Eisai projected FY 2026 Leqembi sales of JPY 143.5 billion, yet the stock fell 5.64%, hinting at cautious sentiment toward long-range Alzheimer’s revenue. Earlier in May, BIOA detailed positive Phase 1 data for BGE-102 and stronger cash resources, with a modestly positive reaction. The updated Leqembi Iqlik PDUFA date to August 24, 2026 saw a small gain. Today’s longer-term Leqembi sales simulation fits this ongoing stream of partner updates.
Regulatory & Risk Context
BIOA has an effective Form S-3ASR shelf registration dated March 24, 2026, covering an unspecified, unlimited aggregate amount of securities. The prospectus allows issuance of common stock, preferred stock, debt, warrants, subscription rights and units via future prospectus supplements, providing broad flexibility for potential capital raises through March 24, 2029.
Market Pulse Summary
This announcement highlights Eisai’s long-term sales simulation for Leqembi, projecting FY 2028 revenue of JPY 300 billion (about SEK 17.6 billion) through March 2029. It builds on prior guidance for earlier fiscal years and ongoing regulatory progress, including an updated PDUFA date for Leqembi Iqlik. Investors may track how subsequent updates to partner forecasts, regulatory milestones, and BioArctic’s own financial reports interact with its effective S-3ASR shelf filed on March 24, 2026.
Key Terms
eu market abuse regulation regulatory
AI-generated analysis. Not financial advice.
Eisai's presentation can be found on https://www.eisai.com/ir/library/presentations/index.html
This is information that BioArctic AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact person below, on May 25, 2026, at 09:15 CET.
For further information, please contact:
Oskar Bosson, VP Communications and Investor Relations
E-mail: oskar.bosson@bioarctic.com
Telephone: +46 704 107 180
Jenny Ljunggren, External Communications and Investor Relations Manager
E-mail: jenny.ljunggren@bioarctic.com
Telephone: +46 76 013 86 08
About Leqembi® (lecanemab)
Leqembi is the result of a strategic research alliance between BioArctic and Eisai. It is a humanized immunoglobulin gamma 1 (IgG1) monoclonal antibody directed against aggregated soluble (protofibril) and insoluble forms of amyloid-beta (Aβ).
Leqembi is approved in 53 countries and is under regulatory review in 6 countries. Following the initial phase with treatment every two weeks for 18 months, intravenous (IV) maintenance dosing with treatment every four weeks is approved in 7 countries, including the
Since July 2020, Eisai's Phase 3 clinical study (AHEAD 3-45) with lecanemab in individuals with preclinical Alzheimer's disease meaning they are clinically normal and have intermediate or elevated levels of amyloid in their brains, is ongoing. The study was fully recruited in October 2024. AHEAD 3-45 is a four-year study conducted as a public-private partnership between Eisai, Biogen and the Alzheimer's Clinical Trial Consortium that provides the infrastructure for academic clinical trials in Alzheimer's disease and related dementias in the US, funded by the National Institute on Aging, part of the National Institutes of Health. Since January 2022, the Tau NexGen clinical study for Dominantly Inherited Alzheimer's disease (DIAD), that is conducted by Dominantly Inherited Alzheimer Network Trials Unit (DIAN-TU), led by Washington University School of Medicine in
About the collaboration between BioArctic and Eisai
Since 2005, BioArctic has a long-term collaboration with Eisai regarding the development and commercialization of drugs for the treatment of Alzheimer's disease. The most important agreements are the Development and Commercialization agreement for the lecanemab antibody, which was signed 2007, and the Development and Commercialization agreement for the antibody lecanemab back-up for Alzheimer's disease, which was signed 2015. In 2014, Eisai and Biogen entered into a joint development and commercialization agreement for lecanemab. Eisai is responsible for the clinical development, application for market approval and commercialization of the products for Alzheimer's disease. BioArctic has the right to commercialize lecanemab in the Nordic region and is currently preparing for commercialization in the Nordics together with Eisai. BioArctic has no development costs for lecanemab in Alzheimer's disease and is entitled to payments in connection with sales milestones as well as royalties on global sales.
About BioArctic AB
BioArctic AB (publ) is a Swedish research-based biopharma company focusing on innovative treatments that can delay or stop the progression of neurodegenerative diseases. The company invented Leqembi® (lecanemab) – the world's first drug proven to slow the progression of the disease and reduce cognitive impairment in early Alzheimer's disease. Leqembi has been developed together with BioArctic's partner Eisai, who are responsible for regulatory interactions and commercialization globally. In addition to Leqembi, BioArctic has a broad research portfolio with antibodies against Parkinson's disease and ALS as well as additional projects against Alzheimer's disease. Several of the projects utilize the company's proprietary BrainTransporter™ technology, which has the potential to actively transport antibodies across the blood-brain barrier to enhance the efficacy of the treatment. BioArctic's B share (BIOA B) is listed on Nasdaq Stockholm Large Cap. For further information, please visit www.bioarctic.com.
[1] Simulation not to be seen as guidance according to Eisai
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SOURCE BioArctic