Neola Medical AB reported a widened operating loss of 3.7 million Swedish kronor in the second quarter of 2026, a 23.3% increase from the 3.0 million kronor loss in the same period a year earlier. The company’s shares fell 3.6% to 54 Swedish öre on the Nasdaq First North Growth Market, closing near the 52-week low of 50 öre.
The Stockholm-based medtech firm, which develops the Neola Neonatal Lung Analyzer for continuous lung monitoring in neonatal intensive care units, posted a first-half 2026 operating loss of 7.3 million kronor, up 28.1% from 5.7 million kronor in the first six months of 2025. Cash burn accelerated to negative 5.9 million kronor in Q2 from negative 6.2 million kronor a year ago, while the first-half cash outflow widened to negative 12.1 million kronor, compared with a positive 7.0 million kronor inflow in H1 2025.
Neola raised approximately 32.5 million kronor in a rights issue completed in June, with funds received in July. The equity ratio stood at 93%, and the company maintained zero interest-bearing debt. The monthly cash burn rate averaged about 2.0 million kronor in H1 2026, up from 1.8 million kronor in the prior-year period.
The company completed its first clinical pilot study in preterm infants in Sweden, confirming a favorable safety profile in very low birth-weight babies down to 1,000 grams. Neola holds eight patent families covering its technology, including a new U.S. patent for optical noise reduction, also granted in China and pending in Europe. No revenue was disclosed, though a prior forecast had estimated $2.4 million in sales.
Neola plans to initiate a U.S. clinical study around mid-2027, pending final study design and FDA feedback. Regulatory interactions with the U.S. Food and Drug Administration are ongoing through 2026 and 2027 to align the clinical study protocol and pathway. The next interim report is scheduled for November 18, 2026, with the annual general meeting set for May 27, 2027.
