Vicore Pharma Holding AB ADR discussed its latest clinical and financial updates at Stifel’s 2026 Virtual Immunology and Inflammation Forum on September 24, 2026. Chief Medical Officer Bernt van den Blink detailed results from the Phase IIa AIR study of buloxibutid, an oral angiotensin‑II type 2 receptor agonist targeting idiopathic pulmonary fibrosis (IPF). Patients who completed 36 weeks of treatment showed a mean increase of 216 ml in forced vital capacity (FVC). An external control analysis of 408 placebo arms identified only one cohort with a similar stabilization pattern, yielding a probability of 0.0025 (1 in 408) that the observed benefit arose by chance. Hair‑thinning was reported in roughly 10 % of participants, leading to discontinuation of a single patient.
The Phase IIb ASPIRE trial is fully enrolled with about 380 patients across a 52‑week, placebo‑controlled design. The study tests 50 mg and 100 mg buloxibutid doses against placebo, with an anticipated placebo FVC decline of approximately 170 ml. Roughly 40 % of participants are not on background therapy and 25 % are treatment‑naïve. The company expects top‑line data from ASPIRE in mid‑2027.
Financially, Vicore reported a cash balance of $93 million as of June 2024, sufficient to fund operations into the second half of 2028, well beyond the anticipated ASPIRE readout. The firm’s current ratio stands at 12.68, reflecting ample liquidity and negligible debt. Market capitalization is $279 million, and the stock traded pre‑market at $9.61, down 1.94 % from the prior close of $9.80. The 52‑week price range is $9.64 to $17.80, with a beta of 0.12 indicating low volatility. Analyst price targets average $33.48, and fiscal 2026 earnings per share are forecast at $0.54 with revenue growth projected to exceed 500 %.
Vicore’s major shareholder Sanofi and Japanese partner Nippon Shinyaku were referenced as strategic allies. Competitor Boehringer Ingelheim’s pipeline, including nintedanib and pirfenidone, was mentioned for context. An upcoming Phase II readout for admilparant is slated for October.
Overall, the company positioned its buloxibutid program as a potential nintedanib‑like therapy with improved tolerability, emphasizing the significance of the Phase II data and the robust cash runway supporting continued development.
