BioArctic AB (ST:) shares rose 10% after reporting a full-year profit of SEK 1.02 billion, driven by milestone payments and royalties from Alzheimer’s drug Leqembi. Annual revenue surged to SEK 2 billion from SEK 257.4 million, with SEK 502.6 million in royalty income. Operating profit hit SEK 1.26 billion, reversing a prior loss of SEK 228.5 million. CEO Gunilla Osswald highlighted Leqembi’s approval in 50+ markets and its potential to delay disease progression by 8.3 years with continuous use.

The company secured $100 million (SEK 1.07 billion) from its Bristol Myers Squibb partnership, plus SEK 335.5 million from Eisai and SEK 59.6 million from Novartis. Cash reserves jumped to SEK 2.19 billion, up from SEK 778.9 million. R&D spending rose to SEK 376.9 million as BioArctic advanced pipeline projects BAN3014 (amyotrophic lateral sclerosis) and BAN2238 (Parkinson’s-related disorders).

Regulatory milestones included Leqembi’s approvals in Brazil, Canada, and the UK, alongside completed U.S. submissions for subcutaneous dosing. Marketing costs increased to SEK 79.2 million, while general expenses reached SEK 115.7 million. BioArctic proposed a SEK 2 per-share dividend, signaling confidence in sustained profitability.

Analysts note the profit reversal marks a strategic shift, with Leqembi’s commercial success offsetting earlier pipeline risks. The stock’s 10% jump reflects investor optimism about biosimilar opportunities and long-term Alzheimer’s market share. SEK 2 per-share dividend and expanded clinical trials position BioArctic for growth amid rising demand for neurodegenerative therapies.