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Bioextrax: Patience is a virtue - VH Corp

BIOEXThird party research26.02.2026, 08.11

This is a third party research report and does not necessarily reflect our views or values

Download report (PDF)
* Updates on Chematur, Konspec and the Candy producer
* Lantmännen sparks hope for protein from feathers
* We keep our fair value of SEK 3.7 per share


Bioextrax reported an eventful Q4 2025, with EBIT of MSEK -5.0, slightly higher than expected. Cash at year-end amounted to MSEK 3.9, with MSEK 12.5 from the rights issue recorded as a recievable. The company is awaiting an agreement with Chematur regarding a PHBV facility in Asia, and has initiated a project with Lantmännen to trial protein from feathers in animal feed. Panel testing at the candy company has not yet started.