Investors
Investing in innovation with purpose.
Investment case
Cereno Scientific develops innovative treatments for rare cardiovascular and pulmonary diseases. The company has a unique scientific approach, experienced leadership, and a clear clinical strategy. With strong partnerships and growing market opportunities, Cereno Scientific is well positioned to create value for both patients and shareholders.
Strong market opportunity
- Cereno Scientific is addressing rare and underserved areas within cardiovascular and pulmonary diseases, with an initial focus on pulmonary arterial hypertension (PAH) — a market expected to reach USD 13.5 billion by 2032.
- There is a significant unmet medical need for disease-modifying therapies in these indications, positioning Cereno Scientific’s portfolio for strong commercial potential and meaningful patient impact.
Differentiated and innovative mechanism of action (MoA)
- Cereno Scientific’s drug candidates are based on epigenetic modulation — a novel therapeutic approach with the potential to transform the treatment landscape in cardiovascular disease.
- The lead candidate, CS1, has demonstrated a favorable safety and tolerability profile and promising efficacy signals in clinical development, offering the potential for disease-modifying effects in PAH.
Robust clinical development and strategic collaborations
- Cereno Scientific has advanced its clinical programs with clear upcoming milestones that could serve as significant value inflection points.
- Strategic collaborations with leading institutions, such as the University of Michigan and global healthcare company Abbott, and medtech Fluidda, provide strong scientific validation and enhance development efficiency.
Commercialization potential and IP strength
- Cereno Scientific’s commercial strategy includes flexible pathways through potential partnerships and licensing agreements after demonstrating clinical proof-of-concept.
- A strong and expanding intellectual property portfolio across all three drug candidates supports long-term market exclusivity and strategic optionality.
Experienced leadership and strong execution capabilities
- Cereno Scientific is led by a seasoned management team with deep expertise in pharmaceutical development, regulatory strategy, and commercialization.
- A proven track record in securing funding, building strategic partnerships, and delivering on key development milestones supports continued operational success and shareholder value creation.
Cereno Scientific is listed on Nasdaq First North Growth Market under CRNO B.
Share capital development
Overview
Shares of series A warrant ten (10) votes per one (1) share and shares of series B warrant one (1) vote per one (1) share. The shares ratio value amounts to 0,1 SEK. All shares entitle the shareholder to equal rights to share the company’s assets and earnings.
| Year | Event | Ratio value (SEK) | Difference in shares | Change (SEK) | Total number of shares | Total share capital (SEK) |
|---|---|---|---|---|---|---|
| 2024 | Rights issue | 0,1 | 47 926 608 | 4 792 661 | 281 701 842 | 28 170 184 |
| 2023 | Rights issue | 0,10 | 96 260 390 | 9 626 039 | 233 775 234 | 23 377 523 |
| 2022 | Share issue | 0,10 | 32 253 062 | 3 225 306 | 137 514 844 | 13 751 484 |
| 2021 | Share issue | 0,10 | 33 442 470 | 3 344 247,00 | 105 261 782 | 10 526 178,20 |
| 2020 | Rights issue | 0.1 | 31 600 000 | 3 160 000 | 71 819 312 | 7 181 931.20 |
| 2019 | Conversion | 0.10 | 533 333 | 53 333.30 | 15 181 303 | 1 518 130.30 |
| 2019 | Conversion | 0.10 | 666 666 | 66 666.60 | 15 847 969 | 1 584 796.90 |
| 2019 | Conversion | 0.10 | 3 333 333 | 333 333.30 | 19 181 302 | 1 918 130.20 |
| 2019 | Rights issue | 0.10 | 19 181 302 | 1 918 130.20 | 38 362 604 | 3 836 260.40 |
| 2019 | Overallotment issue | 0.10 | 1 724 137 | 172 413.70 | 40 086 741 | 4 008 674.10 |
| 2019 | Remuneration issue | 0.10 | 132 571 | 13 257.10 | 40 219 312 | 4 021 931.20 |
| 2018 | Conversion | 0.10 | 188 679 | 18 867.90 | 11 179 179 | 1 117 917.90 |
| 2018 | Conversion | 0.10 | 444 444 | 44 444.40 | 11 623 623 | 1 162 362.30 |
| 2018 | Conversion | 0.10 | 540 540 | 54 054 | 12 164 163 | 1 216 416.30 |
| 2018 | Conversion | 0.10 | 483 870 | 483 8700 | 12 648 033 | 1 264 803.30 |
| 2018 | Conversion | 0.10 | 419 354 | 41 935.40 | 13 067 387 | 1 306 738.70 |
| 2018 | Conversion | 0.10 | 384 614 | 38 461.40 | 13 452 001 | 1 345 200.10 |
| 2018 | Conversion | 0.10 | 269 230 | 26 923 | 13 721 231 | 1 372 123.10 |
| 2018 | Conversion | 0.10 | 307 692 | 30 769.20 | 14 028 923 | 1 402 892.30 |
| 2018 | Conversion | 0.10 | 333 333 | 33 333.30 | 14 362 256 | 1 436 225.60 |
| 2018 | Conversion | 0.10 | 285 714 | 28 571.40 | 14 647 970 | 1 464 797.00 |
| 2016 | Directed issue | 1 | 1 200 | 1 200 | 61 805 | 61 805 |
| 2016 | Stock dividend issue | 10 | – | 556 245 | 61 805 | 618 050 |
| 2016 | Share split 100:1 | 0.1 | 6 118 695 | – | 6 180 500 | 618 050 |
| 2016 | Subdivision A-/B- shares | 0.10 | – | – | 6 180 500 | – |
| 2016 | Directed issue | 0.10 | 1 420 000 | 1 420 000 | 7 600 500 | 760 050 |
| 2016 | Directed issue | 0.10 | 450 000 | 45 000 | 8 050 500 | 805 050 |
| 2016 | IPO | 0.10 | 2 940 000 | 294 000 | 10 990 500 | 1 099 050 |
| 2012 | Formation | 1 | 50 000 | 50 000 | 50 000 | 50 000 |
| 2012 | Rights issue | 1 | 10 605 | 10 605 | 60 605 | 60 605 |
Largest shareholders
Share issues
Our share issues
Access information related to the company’s current and/or previous share issues. Information is in Swedish only.
Analysts
These analysts follow the development of Cereno Scientific on a regular basis.
Stifel
Oscar Haffen Lamm
oscar.haffen-lamm@stifel.com
Rx Securities
Dr Joseph Hedden
Phone: +44 20 7993 8244
E-mail: joseph@rxsecurities.com
Dr Samir Devani
E-mail: samir@rxsecurities.com
Please contact Tove Bergenholt, Head of IR & Communications at Cereno Scientific, for more information or access to analyst coverage.
Edison Investment Research
Jyoti Prakash, CFA and Dr Arron Aatkar
Phone: +44 (0)20 3077 5700
E-mail: healthcare@edisongroup.com
Financial reports
2025
28 March 2026
27 November 2025
27 August 2025
22 May 2025
2024
15 May 2025
Annual Report 2024
25 February 2025
Year-end Report 2024
21 November 2024
Interim report Q3 2024
29 August 2024
23 May 2024
2023
26 March 2024
22 February 2024
17 November 2023
25 August 2023
22 May 2023
2022
06 April 2023
22 February 2023
16 November 2022
25 August 2022
19 May 2022
2021
06 April 2022
09 February 2022
16 November 2021
25 August 2021
19 May 2021
2020
05 May 2021
25 February 2021
Year-end report (Q4) 2020
19 November 2020
28 August 2020
14 May 2020
2019
14 May 2020
27 February 2020
14 November 2019
30 August 2019
30 April 2019
2018
30 April 2019
22 February 2019
15 November 2018
30 August 2018
24 May 2018
2017
09 May 2018
2016
22 May 2017
Financial calendar
27 February 2026
Year-end report 2025
18-22 May 2026
Annual report 2025
27 May 2026
Interim report Q1 2026
17 June 2026
Annual General Meeting 2026
26 August 2026
Interim report Q2 2026
4 November 2026
Interim report Q3 2026
3 February 2027