BioArctic (NASDAQ:B) reported a sharp rise in royalty income for the final quarter of 2025, as the global rollout of its Alzheimer’s treatment Leqembi continues to gain traction across major markets.
The Stockholm-based biotech firm earned SEK 127 million ($12.1 million) in royalties from partner Eisai during the fourth quarter, a 31% increase compared to the same period a year earlier.
The growth was even more pronounced on a currency-adjusted basis.
At constant exchange rates, the royalty surge would have reached approximately 50%, reflecting the impact of a strengthening Swedish krona throughout the year.
Global sales of Leqembi, the first drug proven to slow the progression of Alzheimer’s, reached JPY 20.7 billion in the quarter.
The treatment is now approved in over 50 countries, and market expansion is accelerating as clinicians move from initial adoption to maintenance dosing regimens.
Investors are now looking to February 9, when Eisai will provide a more granular breakdown of regional performance, particularly in the U.S. and China.