MOLN Molecular Partners AG - American Depositary Shares
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 1, 2026 10-K/10-Q Mar 12, 2026MOLN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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About Molecular Partners AG - American Depositary Shares Company overview from Wikipedia
Molecular Partners AG is a clinical-stage biopharmaceutical company based in Zürich, Switzerland. The company is developing a new class of potent, specific and versatile small-protein therapies called DARPins, with potential clinical applications in a range of disease areas including oncology, immuno-oncology, ophthalmology, and infectious diseases. Molecular Partners currently has two DARPin molecules in clinical development, and a broad pipeline of molecules in preclinical development.
History
Researchers at the University of Zürich, Switzerland formed Molecular Partners AG in 2004 while studying monoclonal antibodies. These scientists discovered and developed the DARPin technology and launched the company using this platform.
Molecular Partners became a publicly traded company in November 2014, when it was listed on the SIX Swiss Exchange (ticker MOLN).
Since July 2021, the company is also listed on the Nasdaq in the US under the ticker symbol MOLN.
DARPins
DARPins are genetically engineered antibody mimetic proteins typically exhibiting highly specific and high-affinity target protein binding. They are derived from natural ankyrin repeat proteins. Repeat proteins are among the most common classes of binding proteins in nature, responsible for diverse functions such as cell signaling and receptor binding. DARPins constitute a new class of potent, specific and versatile small-protein therapies, and are used as investigational tools in various therapeutic and diagnostic applications.
The simplest format of a DARPin is the mono-DARPin, consisting of one DARPin domain with specificity for one target. The molecular mass of a mono-DARPin is about 15 to 20 kDa (kilodaltons), depending on the exact design. Several mono-DARPins can be linked (genetically or chemically) to multi-DARPins, which then combine multiple activities in one therapy. This approach enables the design of medicines that can inhibit multiple disease-specific targets and may improve outcomes for patients living with cancer, ophthalmic diseases and other disorders.
Currently, Molecular Partners has two DARPin molecules in clinical development and a broad pipeline of molecules in preclinical development.
Areas of Focus
Molecular Partners is currently focusing its DARPin platform on the fields of oncology, immuno-oncology, ophthalmology, and infectious diseases.
Partnerships/Business Development
Molecular Partners has negotiated three agreements with Allergan to develop therapies for ophthalmology (including abicipar), one in 2011 and two in 2012. In 2011, the company licensed its lead asset back then, abicipar, to Allergan. In 2012, Molecular Partners and Allergan expanded their relationship by signing two separate new agreements to discover, develop, and commercialize proprietary therapeutic DARPin products for the treatment of serious ophthalmic diseases.
Since the company's inception in 2004, Molecular Partners licensed additional DARPin candidates to other leading international pharmaceutical companies, such as Amgen, Roche or Janssen.
In October 2020, as part of a joint venture to develop therapeutic drugs to combat COVID-19, the Swiss pharmaceutical giant Novartis bought 6% of all shares outstanding in Molecular Partners at 23CHF a share.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | MOLN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -2.65Y avg ≈-3.1 | ≈-3.1 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | MOLN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | -47.3%5Y avg ≈-17.1% | ≈-17.1% | -45.8% | Weak | |
| ROE | -55.5%5Y avg ≈-22.1% | ≈-22.1% | 9.3% | Weak | |
| ROIC | -72.4%5Y avg ≈-31.9% | ≈-31.9% | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | MOLN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio | 8.85Y avg ≈10.9 | ≈10.9 | 2.0 | Strong liquidity | |
| Quick Ratio | 7.75Y avg ≈5.2 | ≈5.2 | 1.5 | Strong liquidity | |
| Interest Coverage | -11.55Y avg ≈-312.0 | ≈-312.0 | -55.0 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | MOLN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue / Employee | ≈$37.1K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | $-0.35 | — | — | |
| Dec. 31, 2025 | $-0.23 | $-0.35 | 32.5% | |
| June 30, 2025 | $-0.54 | — | — | |
| Dec. 31, 2024 | $-0.30 | — | — | |
| June 30, 2024 | $-0.43 | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | · | $5M | $7M | $190M | $10M | $9M | |
| R&D Expense | $40M | $49M | $49M | $51M | $56M | $56M | |
| SG&A Expense | $15M | $18M | $19M | $22M | $17M | $12M | |
| Operating Income | $-58M | $-61M | $-61M | $117M | $-63M | $-58M | |
| Interest Expense | $5M | $38.0K | $5M | $619.0K | $556.0K | $5M | |
| Interest Income | $2M | $7M | $4M | $2M | $191.0K | $367.0K | |
| Pretax Income | $-62M | $-54M | $-62M | $118M | $-64M | $-63M | |
| Income Tax | $2.0K | $2.0K | $0 | $0 | $2.0K | $-11.0K | |
| Net Income | $-62M | $-54M | $-62M | $118M | $-64M | $-63M | |
| EPS (Basic) | $-1.65 | $-1.59 | $-1.89 | $3.63 | $-2.06 | $-2.51 | |
| EPS (Diluted) | $-1.65 | $-1.59 | $-1.89 | $3.54 | $-2.06 | $-2.51 | |
| Shares (Basic) | 37,271,281 | 34,032,544 | 32,770,665 | 32,469,957 | 31,005,171 | 25,000,652 | |
| Shares (Diluted) | 37,271,281 | 34,032,544 | 32,770,665 | 33,265,567 | 31,005,171 | 25,000,652 | |
| EBITDA | $-58M | $-61M | $-61M | $117M | $-63M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $83M | $64M | $67M | $88M | $72M | $134M | |
| Receivables | $2M | $2M | $2M | $1M | $26M | $3M | |
| Current Assets | $97M | $154M | $192M | $255M | $164M | $178M | |
| PP&E (Net) | · | · | · | $7M | $8M | $9M | |
| Intangibles | $2.0K | $49.0K | $212.0K | $271.0K | $331.0K | $347.0K | |
| Total Assets | $102M | $159M | $198M | $262M | $173M | $188M | |
| Accounts Payable | $2M | $2M | $1M | $2M | $7M | $6M | |
| Current Liabilities | $11M | $11M | $14M | $17M | $47M | $58M | |
| Total Liabilities | $22M | $17M | $22M | $27M | $65M | $80M | |
| Retained Earnings | $-312M | $-246M | $-192M | $-128M | $-251M | $-195M | |
| Stockholders' Equity | $80M | $142M | $176M | $235M | $107M | $107M |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-51M | $-59M | $-59M | $119M | $-91M | $-29M | |
| CapEx | $714.0K | $705.0K | $575.0K | $1M | $933.0K | $1M | |
| Investing Cash Flow | $73M | $40M | $45M | $-101M | $-22M | $-22M | |
| Financing Cash Flow | $-1M | $14M | $-1M | $-2M | $51M | $113M | |
| Free Cash Flow | $-52M | $-60M | $-60M | $117M | $-92M | · | |
| Levered FCF | $-57M | $-60M | $-65M | $117M | $-92M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | · | -1231.7% | -868.3% | 61.5% | -650.2% | · | |
| Net Margin | · | -1087.4% | -880.7% | 62.2% | -653.9% | · | |
| Pretax Margin | · | -1087.3% | -880.7% | 62.2% | -653.9% | · | |
| EBITDA Margin | · | -1231.7% | -868.3% | 61.5% | -650.2% | · | |
| ROA | -47.3% | -30.3% | -26.9% | 54.2% | -35.4% | · | |
| ROE | -55.5% | -34.0% | -30.1% | 68.8% | -59.5% | · | |
| ROIC | -72.4% | -43.2% | -34.6% | 49.6% | -59.1% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 8.8 | 14.3 | 13.4 | 14.8 | 3.5 | · | |
| Quick Ratio | 7.7 | 6.1 | 4.8 | 5.2 | 2.1 | · | |
| Interest Coverage | -11.5 | -1611.0 | -11.9 | 188.4 | -114.1 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.0 | 0.0 | 0.9 | 0.1 | · | |
| Receivables Turnover | · | 2.3 | 4.7 | 14.2 | 0.7 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue / Share | · | $0.15 | $0.21 | $5.70 | $0.31 | · | |
| Cash Flow / Share | $-1.38 | $-1.74 | $-1.80 | $3.56 | $-2.93 | · | |
| EPS (TTM) | $-1.65 | $-1.59 | $-1.89 | $3.54 | $-2.06 | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | · | $5M | $7M | $190M | $10M | · | |
| Net Income TTM | $-62M | $-54M | $-62M | $118M | $-64M | · | |
| P/E | -2.6 | -3.0 | -2.2 | 1.9 | -9.3 | · | |
| Earnings Yield | -37.9% | -33.5% | -45.2% | 54.0% | -10.7% | · |
We don't have SEC filings for this ticker yet.
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | · | $5M | $7M | $190M | $10M |
| Operating Margin % | · | -1231.7% | -868.3% | 61.5% | -650.2% |
| Net Income | $-62M | $-54M | $-62M | $118M | $-64M |
| Diluted EPS | $-1.65 | $-1.59 | $-1.89 | $3.54 | $-2.06 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 8.8 | 14.3 | 13.4 | 14.8 | 3.5 |
| Quick Ratio | 7.7 | 6.1 | 4.8 | 5.2 | 2.1 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-52M | $-60M | $-60M | $117M | $-92M |
Institutional owners (13F) 5 filers · $13.8M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 2 (+2 vs prior Q) | 1 (-1 vs prior Q) | 0 (-1 vs prior Q) | 0 (0 vs prior Q) | +2K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| MONTANOVA CAPITAL, LLC | $8,597,182 | 2,221,494 | 62.25% | Shares |
| BVF INC/IL | $5,145,078 | 1,353,968 | 37.26% | Shares |
| CITADEL ADVISORS LLC | $65,280 | 17,179 | 0.47% | Shares |
| MORGAN STANLEY | $1,420 | 367 | 0.01% | Shares |
| UBS Group AG | $1,080 | 279 | 0.01% | Shares |
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Biotechnology Value Fund, L.P., BVF I GP LLC, Biotechnology Value Fund II, L.P., BVF II GP LLC, Biotechnology Value Trading Fund OS LP, BVF Partners OS Ltd., BVF GP Holdings LLC, BVF Partners L.P., BVF Inc., Mark N. Lampert ×2 filings | Oct. 29, 2024 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
MOLN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
5 analysts · 2026-09-30Mean target $10.37 +165.3%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
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