Swedish drug-delivery technology company Inhalation Sciences AB reported H1 2026 revenue of about SEK 7 million, doubling the SEK 3.5 million generated in all of 2025, according to an earnings call transcript published on August 24.
CEO Manoush Masarrat said the combined Q1 and Q2 revenue matched the company’s full-year 2025 total, marking a 100% year-over-year increase. New signed orders also doubled compared with the first half of 2025, while the commercial pipeline remained intact at approximately SEK 30 million. Masarrat highlighted the ongoing FDA collaboration and the DissolvIt study as key drivers of customer engagement, particularly with U.S.-based Contract Research Organizations seeking local sourcing solutions.
The company secured a more than EUR 100,000 order from the IRS in May and a separate SEK 1.5 million contract from a global generic pharmaceutical company for DissolvIt services, both attributed to the FDA-linked study. Management also noted progress in U.S. market expansion, including ongoing discussions with multiple U.S. CROs to deliver services domestically under sourcing rules that favor U.S.-origin inputs.
Inhalation Sciences announced a SEK 4 million loan facility on July 28 to support operations during the ongoing M&A process, which was initiated in November 2025 with an expected completion timeline of 9 to 12 months. The facility provides stability to evaluate bids in the shareholders’ best interest, Masarrat said. The company continues to operate with a lean structure while targeting profitability amid accelerated revenue growth.
Shares of Inhalation Sciences were unchanged at $0.14 following the call, trading 7.9% above its 52-week low of $0.13 and 79.7% below its 52-week high of $0.69. Management confirmed acceptance to present the DissolvIt study results at three major industry conferences, including one in the U.S. and two in Europe.
