Gubra AS’s shares slipped 1.3% to $390 on Tuesday after the Danish biotech firm reported strong first-half 2026 operational progress, including pipeline advancements and a return to profitability in its contract research division.
The company, which operates a contract research organization (CRO) and a biotech unit, said its CRO business grew 11% sequentially in the first half of 2026 compared with the second half of 2025, returning to positive profitability after a small loss in the fourth quarter of 2025. Gubra serves 17 of the top 20 global pharmaceutical companies and has over 18 years of metabolic research experience.
Gubra maintained its 2026 guidance, projecting total costs of DKK 330 million to DKK 360 million, revenue growth of 0% to 10%, and an EBIT margin of 10% to 15%. No dividend has been declared for 2026.
The company’s biotech pipeline saw key developments, including the advancement of AbbVie’s ABBV-295 program into Phase II trials, with top-line data from the multiple ascending dose study showing approximately 10% weight loss after 12 weeks of treatment. AbbVie plans to initiate Phase II in the third quarter of 2026, with Phase I single ascending dose data expected to be presented at the European Association for the Study of Diabetes (EASD) in September 2026.
Gubra’s internally developed GUB-UCN2 program, a long-acting CRHR2 receptor agonist, is in Phase I/IIa trials targeting obesity and metabolic disorders. The program aims to reduce fat mass while building skeletal muscle mass, with a treatment duration of up to 16 weeks.
The company also highlighted progress in its triple agonist program with Boehringer Ingelheim, now in Phase II development with approximately 300 participants and a 42-week treatment duration. Boehringer Ingelheim has advanced the program and concluded a fourth collaboration project with Gubra.
Gubra announced the launch of Gubra Ventures, a new business unit focused on early-stage investments. CEO Markus noted the company is evaluating multiple deals and expects to announce its first transaction in the coming months. The company also plans an investor R&D event in London on October 27, 2026.
Gubra’s market capitalization stands at $1.01 billion, with a P/E ratio of 3.46 and a current ratio of 13.63. The stock has traded between $293 and $557.5 over the past 52 weeks, with Tuesday’s decline reflecting a 1.3% drop from the prior close of $395.
