Malin Corporation plc reported an intrinsic equity value of €9.36 per share as of June 30, 2026, reflecting a total value of €40.7 million. The figure represented a modest increase from €39.9 million at December 31, 2025, driven primarily by foreign exchange movements and the unwinding of discount rates over time.
By August 24, 2026, the per-share value had declined 12% to €8.28, with the total equity value easing to €39.9 million. The reduction was attributed to a lower fair value assessment of Kymab and a slight decrease in cash from normal operating activities. Cash on hand stood at €11.6 million at June 30, down from €12.9 million at year-end 2025, and further reduced to approximately €11.2 million by August 24.
Corporate cash operating expenses totaled €0.8 million in the first half of 2026. Malin’s exposure to Poseida, in which it held a roughly 12% stake, generated $106.5 million in upfront proceeds from Roche’s January 2025 acquisition, with potential for an additional $47.3 million via contingent value rights (CVRs) tied to milestone achievements. The estimated fair value of these CVRs was approximately €13.5 million as of August 24, 2026.
The valuation of Kymab’s contingent consideration was reduced to nil in the second half of 2026 following Sanofi’s July 24 announcement to discontinue clinical development of Amlitelimab in moderate to severe atopic dermatitis. Malin is also engaged in restructuring discussions with other investors in Viamet, which may include a direct investment in Mycovia.
