Owner list updated on the pages today. Handelsbanken funds -1.48M shares. Only 1M shares left.
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Isnât Nanoformâs AGM on April 21st and not tomorrow as shown in Inderesâ stock market calendar?
21st is correct, source: official investor calendar nanoform
Another interesting comment from the Kauppalehti forum.
âI found out that Handelsbankenâs massive holding was once the responsibility of two fund portfolio managers; one bought at the IPO and the other sometime in 2024. The latter is holding roughly the current Handen (Handelsbanken) ownership. The first one left the position and was replaced by two others, who then for one reason or another have dumped everythingâŠâ
I wonder if Handelsbankenâs sales are finally over? 
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At least regarding those Handelsbanken funds that were on the sell side for months. At the turn of last month, the selling fundsâ positions were at zero.
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âThe reportâs analysis of Finland identifies three global growth sectors that are still in the early stages of their development cycle and where Finland has promising positioning:
- Non-medical biotechnology. Strong research base at VTT and universities. Solar Foods, Onego Bio and Nanoform demonstrate that commercialization is already underway.â
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Yesterdayâs release regarding the Q1 report on May 19, 2026: Invitation to Nanoform's Q1 2026 Report Presentation
Here is also a link to the webcast starting at 11:00 EET: Nanoform Q1 Report 2026
With the Q1 report, there should now also be an update on the strategy for tackling the EMA bioequivalence issue regarding nanoenzalutamide.
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Well, it looks like Handelsbanken has let the share price catch its breath again for a moment. The price has been like a coiled spring during these bounces. In itself, itâs no wonder, considering we are trading close to book value (tasearvo).
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Itâs been the same for many years: whenever Nanoformâs price relative to its target price is mentioned in a Kauppalehti article, the share price jumps 15â20%. Today, there was another story about penny stocks where Nanoformâs upside was prominently featured at the top, just as it has been for years. No worries, it will drop back down in the coming days if you want to buy. Letâs wait for actual company-related newsâabove all, how and on what schedule and cost the marketing authorization for nano-enzalutamide might progressâŠ
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That explains it. My own position is already large enough, thanks anyway. Personally, Iâm also waiting for news of something concrete or a share issue before I buy more.
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I sold some shares today. My position here is also quite large for a micro-cap. So i used the hike to de-risk. If the share drops back to 48ct or lower i might rebuy them again.
Yesterday afternoon i was wondering if some insider information got leaked, but no press release today - so the raise might be indeed because of a Kauppalehti article again.
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The shareholder list has been updated on the website for April. Handelsbanken has stopped its selling, and the largest seller in the top 25 appears to have been Danske Invest, which has dropped off the list. Consequently, Danske must have sold at least -700k shares.
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âSopimuksen mukaan kumppani maksaa Nanoformille palauttamattoman 1 000 000 Yhdysvaltain dollarin alkumaksun varmistaakseen yksinoikeuden lisensoida Nanoformin biologista teknologiaa yhteen kliinisesti ja kaupallisesti validoituun kohdereseptoriin vuodeksi. Maksua voidaan jatkaa kerran vuodella 1 000 000 Yhdysvaltain dollarin palauttamatonta lisĂ€maksua vastaan.â
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Ultra-high concentration subcutaneous receptor blocker Given that the press release did not mention Trastuzumab by name, and it has already been announced previously, I would guess this is another monoclonal antibody. The window for the commercial partnering of Nanotrastuzumab is also marked between 2026-27, the Product kernel overview table can be found in this previous post of mine.
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âThis is our first exclusivity agreement for the biologics technology for a therapeutic targetâ
â So, we are talking about a biologic, most likely a mAb (monoclonal antibody). This is why I am excited about the news; this is a preliminary external validation of the generalizability of Nanoâs technology in biological drugs, which is, of course, the most (commercially) significant group of drug substances!
âWe are excited by the advanced pre-clinical data our partner has generated with our biologics technology.â
â It would be great to get even a little more color around this, regarding what kind of results they are. But partnerâs trade secretsâŠ
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Let me add that I was never incredibly excited about the benefits of nanoenzalutamide (was it that the tablet count was reduced from four to one or something like that?).
However, this implies that it involves converting intravenous administration into a subcutaneous injection, which is of course a huge advantage; time, professional labor, and hospital resources are saved. In my book, the added value of such a nanoformulation is on a completely different scale.
Weâll see how the market digests this information. The First North listing slows down the process of finding the âcorrectâ pricing, and the volume is still quite low. YTD (Year-to-Date) is still in the red.
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S.c. biologics has clearly been the most interesting part of the company, which jerej has explained to us many times. However, as an investment at this moment, Nanoform makes me wonder. Potential significant revenues are still further away even regarding this agreement; this will bring in one million USD for the first and second year. The companyâs cash runway is starting to reach its end, and the only advanced project potentially bringing in more significant revenue in the short term, nanoenzalutamide, hit a major headwind. There has been no further clarification on the requirements for the European marketing authorization application, and they have avoided even mentioning the USA in the companyâs communication for a long time. So, in a way, the situation remains that financing needs to be arranged, and the potential valuation is still based on the possible promises of the technology further in the future. Plus exactly this, that price discovery happens here on First North, which hasnât really seemed to interest the public for a long time (meaning Iâm referring to the share price level as a basis for the pricing of the likely upcoming share issue). High volatility is probably to be expected over the coming months, I personally cannot estimate the price levelâŠ
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Halozyme recently acquired two companies producing these other hyper-concentrated biological compounds, Elektrofi for $900M and Surf Bio for $400M. Both of those are admittedly a bit further along in biological drug substances than Nanoform and are starting Phase 1 trials in the coming years.
âFor now, Elektrofiâs tech is more advanced, as Halozyme expects two Hypercon-backed client products to begin phase 1 trials this year, with potential approvals in the 2030-to-2031 timeframe. The Surf technology is expected to enter the clinic by the end of 2027 or early 2028.â
According to management comments, converting Nanoformâs biologics line to GMP level would take an estimated 2 years. This news likely points to the party that will pay for that line conversion.
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