Zelluna ASA
Zelluna ASA is a biotechnology company focused on healthcare diagnostics, developing and commercializing innovative diagnostic solutions for the detection and monitoring of diseases.
Business. Zelluna ASA (ZLNA.OL) is a biotechnology and medical research company focused on healthcare diagnostics. The firm is headquartered in Norway and is primarily listed on the Oslo Børs. Specific details regarding operating segments and geographic revenue mix are not available.
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Zelluna ASA (ZLNA.OL) is a biotechnology and medical research company focused on healthcare diagnostics. The firm is headquartered in Norway and is primarily listed on the Oslo Børs. Specific details regarding operating segments and geographic revenue mix are not available.
Zelluna ASA has a market capitalization of NOK 570.06 million and a price-to-book ratio of 6.64, indicating a premium valuation relative to its book value. The company's liquidity position is strong, with a current ratio of 4.87, suggesting it can easily cover its short-term obligations. However, the company reported negative operating cash flow of NOK -149.03 million and free cash flow of NOK -135.98 million, reflecting ongoing cash burn.
Profitability metrics are negative, with a return on equity of -1.64 and a return on assets of -1.36, both significantly below industry norms. The company reported no revenue and a net loss of NOK -140.71 million, indicating it is in an early-stage or development phase with no commercialized products generating revenue.
Zelluna's capital structure is relatively clean, with a debt-to-equity ratio of 0.01, indicating minimal leverage. The company has NOK 3.13 million in cash and equivalents and NOK 697,000 in long-term debt, suggesting it is not reliant on external financing for operations. However, the absence of revenue and continued losses raise concerns about long-term sustainability without additional funding.
The company's growth trajectory is currently constrained, with no revenue reported and a net loss in the latest period. There are no disclosed segments or geographic breakdowns, making it difficult to assess diversification or regional exposure. The lack of revenue and ongoing losses suggest the company is in a pre-commercialization phase, relying on research and development to drive future growth.
Risk factors include the company's negative cash flows and lack of revenue, which could necessitate further equity or debt financing. The risk assessment indicates low dilution and liquidity risk, but the absence of revenue and ongoing losses pose significant operational risks. The company has not disclosed any immediate dilution or liquidity flags, but its financial position remains precarious.
Recent filings and transcripts do not provide specific details on the company's operations or strategic direction. The company's focus on healthcare diagnostics suggests it is working on innovative solutions, but without commercial revenue, its progress and market potential remain speculative.
- Zelluna ASA is a biotechnology company in the healthcare diagnostics space with no current revenue and significant losses.
- The company has a strong liquidity position but is burning cash at a high rate, with negative operating and free cash flows.
- The valuation is premium relative to book value, but profitability metrics are negative, indicating poor returns on equity and assets.
- The company's capital structure is lightly leveraged, with minimal debt and a high current ratio.
- The absence of revenue and ongoing losses suggest the company is in a pre-commercialization phase, relying on R&D for future growth.
- Risk factors include operational losses and the need for additional financing, but immediate dilution or liquidity risks are low.
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consensus EPS · 26-week trendSell-side observations
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Risk factors
- No immediate filing-based liquidity or dilution flags were detected.
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- Zelluna ASA Market data — financials · 2026-05-30
Ownership & reference
Leadership
- Namir Jafar HassanCEO
Insider activity
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Geographic breakdown
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Evidence & claims
From filings & derived data- Debt-to-equity (FY 2024-12-31): 0.40xDerived (calculated)
- Return on equity (FY 2024-12-31): -286.9%Derived (calculated)
- Return on assets (FY 2024-12-31): -204.7%Derived (calculated)
- Current ratio (FY 2024-12-31): 3.62xDerived (calculated)
- Shareholders' equity (annual): NOK 81.01MBRREG filing
- Non current liabilities (annual): NOK 1.71MBRREG filing
- Current liabilities (annual): NOK 30.81MBRREG filing
- Current assets (annual): NOK 111.51MBRREG filing
- Total assets (annual): NOK 113.53MBRREG filing
- Finance expense (annual): NOK 1.38MBRREG filing
- Total operating expenses (annual): NOK 243.39MBRREG filing
- Operating income (annual): NOK -243.39MBRREG filing
- Pre-tax income (annual): NOK -232.41MBRREG filing
- Net income (annual): NOK -232.41MBRREG filing
- Total liabilities (annual): NOK 32.52MBRREG filing
- Total equity & liabilities (annual): NOK 113.53MBRREG filing
- Non current assets (annual): NOK 2.02MBRREG filing