2022 was a tough year for many life science investors, who not only witnessed several drops, but also sharp drops in the value of their favourite stocks. But not all stocks performed poorly during the year. BioStock has listed the ten strongest Swedish life science stocks of 2022 and taken a closer look at a few companies to identify the reasons for the surging share prices.
From a life science perspective, 2022 was not the best of years when it comes to stock market performance. While companies have been developing at a steady pace, the general stock market sentiment has placed a wet blanket on the sector. The Nasdaq Junior Biotechnology Index, which tracks biotech companies listed on Nasdaq in the U.S. with a market value of less than 5 BUSD, fell by 30 per cent in 2022. That compares with the broader S&P500 Index which recorded a decline of 20 per cent.
AstraZeneca on the list
It is not all too common for stock market giants to be among the best performing stocks, but AstraZeneca qualifies for the list of 2022’s best-performing Swedish life science stocks. The share price increase reflects the good operational development that the company has seen during the year, and expectations of future growth, not least due to the acquisition of Alexion in 2021. AstraZeneca shares rose by 32 per cent in 2022 and closed the year just a few SEK shy of an all-time high. The surge meant that the company added just over 600 BSEK in market capitalisation, corresponding to almost an entire ABB.
Lumito advances ahead of market launch
On this year’s top list we also find the diagnostics company Lumito, which is in full swing preparing for the market launch of Scizys by Lumito. The product is a medical device for tissue diagnostics, that will make it easier for pathologists and researchers to identify, among other things, cancer in tissue samples. The launch is supposed to take place in early 2023 and the market clearly has high expectations for the company, whose share last year increased by 82 per cent.
Good sales development lifts Camurus
Lund-based Camurus also saw a positive stock market development in 2022, driven by continued sales success for Buvidal, the company’s product for the treatment of opioid dependence. The product combines the opioid buprenorphine with the company’s patented formulation technology FluidCrystal, which makes it possible for healthcare providers to administer the drug weekly or monthly. During the first nine months of 2022, sales amounted to 668 MSEK, corresponding to a growth of 62 per cent compared to the same period in 2021.
A good momentum in sales combined with expectations for an upcoming US launch and a potentially broadened indication for Buvidal has driven interest in the stock, which in 2022 was traded up by 68 per cent.
FDA-approval behind surge in Bonesupport
Another life science rocket of 2022 was the medical technology company Bonesupport. Behind a sharp rise in the share price is the FDA decision to approve the company’s antibiotic-releasing product Cerament G for sale in the US market. The product is based on the company’s Cerament platform, which consists of injectable bioceramic bone graft substitutes that have the ability to release drugs. In the case of Cerament G, Bonesupport has now been approved for the indication osteomyelitis, or bone infection. The FDA approval is described as the largest milestone in the company’s history to date and expectations for the product are high. Bonesupport shares rose 83 per cent in 2022.
Alzheimer’s a clear theme in 2022
The big stock market winner in the sector during 2022 was BioArctic, whose share during the year recorded an increase of as much as 128 per cent. The surge came after Japanese partner Eisai announced positive phase III results with lecanemab, which is being developed for the treatment of Alzheimer’s disease. The Alzheimer’s area has attracted a lot of attention in 2022, thanks to the FDA’s controversial decision to give Biogen conditional approval for the drug Aduhelm, despite criticism for lack of evidence of efficacy and serious side effects.
The approval demonstrates just how long-awaited an effective treatment for Alzheimer’s is, which bodes well for companies like BioArctic, provided that their candidate manages to make it all the way to market approval. Learn more.
However, the improved sentiment has not been able to provide sufficient support to Alzheimer’s colleagues Alzinova and AlzeCure, that during the year recorded drops of 57 and 30 per cent, respectively.
The 2022 Swedish life science stock market rockets
Below, BioStock lists the 2022 stock market winners among Swedish life science companies.
|BioArctic||128 per cent||Alzheimers|
|Bonesupport||83 per cent||Bone graft substitutes|
|Lumito||82 per cent||Diagnostics|
|Camurus||68 per cent||Opioid addiction etc.|
|Oncopeptides||45 per cent||Oncology|
|AstraZeneca||32 per cent||Oncology etc.|
|Vicore Pharma||29 per cent||Lung diseases|
|Ortivus A||25 per cent||Patient monitoring|
|SenzaGen||21 per cent||In vitro tests|
|RaySearch Laboratories||20 per cent||Software for oncology clinics|