HBM Healthcare Reports Strong Q2, Shares Up Despite NAV Discount
HBM Healthcare Investments AG has reported a strong second quarter, with its share price increasing by 4.0% despite trading at a 28% discount to net asset value (NAV). The company is optimistic about the remainder of the business year, expecting further positive contributions from its stakes.
The positive performance can be attributed to several factors. Firstly, takeover offers for Merus, Y-mAbs Therapeutics, and 89Bio significantly contributed to the quarter's results. Additionally, positive clinical trial results from Abivax, Mineralys, Upstream Bio, and UniQure also played a crucial role. The net asset value (NAV) per share increased by 6.1% in Swiss francs (+17.8% in dollars) in the first half. HBM recorded a profit of 236 million Swiss francs in the second quarter, a significant turnaround from the 140 million loss in the first quarter. The company expects a profit of 96 million Swiss francs for the first half of the 2025/26 business year, up from 23 million in the same period last year. Foreign exchange had no significant impact on the second quarter's performance.
HBM Healthcare's final half-year results will be published on October 24, 2025. The company's optimism for the second half of the business year is reflected in its expectation of further positive contributions from its stakes, despite the share price still trading at a significant discount to NAV.
