Formycon AG / Key word(s): Forecast / Other
Formycon AG recognizes non-cash impairments on FYB201 and FYB202 and revises its guidance for adjusted EBITDA

05-Nov-2026 / 14:44 CET/CEST
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The issuer is solely responsible for the content of this announcement.

Planegg-Martinsried, Germany, November 05, 2026 – The Management Board of Formycon AG (FSE: FYB, ISIN DE000A1EWVY8) (“Formycon” or the “Company”) today resolved to recognize impairments for the biosimilars FYB201 (ranibizumab) and FYB202 (ustekinumab) in the consolidated figures as of September 30, 2026. The impairments result from the regular impairment test at quarter-end and reflect lower revenue expectations of the commercialization partners for both products. The guidance for adjusted EBITDA is being revised.

For fiscal year 2026, Formycon continues to expect revenue of EUR 60 million to EUR 70 million and EBITDA of EUR 0 million to EUR 10 million, each at the lower end of the range of the previous guidance, as well as net working capital at year-end of EUR 20 million to EUR 30 million. The Management Board now expects adjusted EBITDA of EUR -15 million to EUR -5 million (previously EUR 5 million to EUR 15 million). The reason for this is the result from the investment in Bioeq AG, which is included in adjusted EBITDA and declines with the revenue expectations for FYB201.

The adjusted revenue expectations of the commercialization partners result in impairments under IFRS in the consolidated figures on the rights to FYB202 and on the investment in Bioeq AG (FYB201). This is partly offset by the remeasurement of the contingent purchase price liabilities from the acquisition of the rights in 2022. On a net basis, the impairments reduce consolidated net income for 2026 by EUR 82 million for FYB202 and EUR 39 million for FYB201. However, the impairments are non-cash.

The other development projects of Formycon are not affected by the impairments.

As planned, Formycon will publish its figures for the first nine months of 2026 on November 12, 2026, and will explain the impairments and the guidance in a conference call at 3:00 p.m. CET that day; the dial-in details are available at www.formycon.com in the Investor Relations section.

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Disclaimer
This release neither constitutes an offer to sell nor a solicitation of an offer to buy or subscribe for securities of Formycon AG in any jurisdiction, including the United States of America, Canada, Australia and Japan. No public offering of securities of Formycon AG will be made, or is intended, in connection with this release.

This release may contain forward-looking statements and information, which are based on the current expectations, estimates and assumptions of the management of Formycon AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, performance of Formycon AG, development of the products and the estimates given here.

Such known and unknown risks and uncertainties include, among others, risks relating to research and development, the regulatory approval process, the timing of the actions of regulatory bodies and other governmental authorities, clinical results, changes in laws and regulations, tariffs and trade policy, product quality, patient safety, the conclusion and performance of commercialization partnerships, market acceptance, pricing and competition, manufacturing and supply, including by third-party manufacturers, financing, including compliance with the covenants of the bond of Formycon AG, and the patents and exclusivities protecting reference products, including related litigation. With respect to pipeline products, Formycon AG does not make any representation, give any warranty or provide any other guarantee that the products will receive the necessary regulatory approvals or that they will prove to be commercially successful. Forward-looking statements should not be relied upon as predictions of future events. Formycon AG assumes no obligation to update these forward-looking statements or to correct them in case of developments which differ from those anticipated, except as required by law.

Contact
Formycon AG
Fraunhoferstrasse 15 · 82152 Planegg-Martinsried · Germany

+49 89 864667485
ir@formycon.com

End of Inside Information

05-Nov-2026 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Language:

English

Company:

Formycon AG

Fraunhoferstraße 15

82152 Planegg-Martinsried

Germany

Phone:

+49 89 864667 100

Fax:

+49 89 864667 110

E-mail:

ir@formycon.com

Internet:

www.formycon.com

ISIN:

DE000A1EWVY8, NO0013586024

WKN:

A1EWVY, A4DFJH

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate BSX; Oslo

LEI Code:

39120005TZ76GQOY8Z19

EQS News ID:

2429294

End of Announcement

EQS News Service