Net sales amounted to 2.8 MSEK in the second quarter, a decrease of 61 per cent that the company mainly attributes to sales being conducted in the form of pilot projects. During the quarter, a study was published in Annals of Internal Medicine in which the Stockholm3 blood test identified 90 per cent of the men with aggressive prostate cancer.
Net sales
vs second quarter 2025
Sensitivity in the study
specificity 89 per cent
Cash and cash equivalents (MSEK)
incl. short-term investments, 30 June
Pilot projects behind lower sales
Net sales amounted to 2.8 (7.2) MSEK in the second quarter and 5.7 (13.0) MSEK for the half-year — a decrease of 61 and 56 per cent respectively. CEO Martin Steinberg mainly attributes the decrease to sales being conducted in the form of pilot projects, and to the 2025 outcome having been largely driven by project-based studies rather than clinical demand. The company points to the Swedish Reinvite2 study, which was carried out in the first half of 2025 and generated a large number of tests. Gross profit amounted to 0.3 (2.6) MSEK, and the deterioration is mainly explained by a lower volume of tests and lower capacity utilisation.
| Apr–Jun 2026 | Apr–Jun 2025 | |
|---|---|---|
| Net sales | 2,825 | 7,159 |
| Gross profit | 252 | 2,588 |
| Profit before tax | -24,081 | -18,436 |
| Cash flow from operating activities | -17,085 | -12,163 |
| Cash and cash equivalents incl. short-term investments, closing | 120,097 | 192,455 |
The study in Annals of Internal Medicine
The study comprised 12,670 men aged 50 to 74 from the STHLM3-MRI cohort with complete two-year follow-up via the Swedish Cancer Register. Stockholm3 identified 90 per cent of the men who had aggressive prostate cancer (Grade Group ≥2), with a specificity of 89 per cent. By comparison, PSA ≥3 ng/ml showed a sensitivity of 74 per cent (specificity 90 per cent) and PSA ≥4 ng/ml a sensitivity of only 52 per cent (specificity 95 per cent). According to the report, at the latter level almost half of the men who had aggressive prostate cancer were missed. According to the company, the clinical evidence for Stockholm3 now comprises more than 40 scientific publications and over 90,000 evaluated men.
Second FDA meeting and dialogue with CMS
At the end of April, the company held a second guiding meeting (pre-submission) with the FDA in Washington ahead of a potential PMA application. According to the CEO, the meeting provided further clarity on the clinical and regulatory conditions in the US. According to the company, the next step is to reach a shared view with the FDA and CMS (Medicare) on the conditions for conducting a clinical study in the US. After the end of the quarter, a dialogue with CMS on reimbursement for Stockholm3 in the US began over the summer, with a first meeting in July.
COMPASS behind higher research and development costs
Research and development costs amounted to 10.2 (8.9) MSEK in the quarter, an increase mainly explained by the COMPASS study that started in 2026 — a randomised screening study of Stockholm3 in Swedish primary care, aimed at influencing the design of the European guidelines for prostate cancer screening. Profit before tax amounted to -24.1 (-18.4) MSEK. Cash and cash equivalents including short-term investments amounted to 120.1 (192.5) MSEK as of 30 June, and the equity ratio to 82.2 per cent (89.1). The group has no interest-bearing liabilities. The report has not been reviewed by the company's auditor, and the next interim report will be published on 5 November 2026.
Source: A3P Biomedical AB (publ), interim report for the period April–June 2026, Stockholm, 18 August 2026.
