Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Zelluna ASA is a biotechnology company pioneering the development of innovative 'off-the-shelf' T cell receptor (TCR) guided natural killer (NK) cell therapies, known as TCR-NK, to treat advanced solid cancers such as lung, ovarian, breast, and head & neck tumors. Its primary mission is to deliver transformative, curative treatments by combining clinically validated TCR targeting with the potent effector functions of allogeneic NK cells, enabling broad cancer detection, scalability, and global accessibility that overcomes limitations of therapies mainly effective against liquid cancers. The lead program, ZI-MA4-1, represents the world's first MAGE-A4 targeting TCR-NK, nearing Phase I clinical trials following a NOK 58 million fundraising in November 2025 to generate initial patient data and advance the pipeline. Formed in March 2025 through a business combination between Zelluna Immunotherapy AS (founded 2016) and Ultimovacs ASA, the company is headquartered at the Oslo Cancer Cluster Innovation Park in Norway and led by experienced biotech executives with expertise in TCR, immunotherapy, and cell therapies from discovery to commercialization. Zelluna ASA holds a pivotal role in the cell therapy sector, protected by foundational patents and supported by a proprietary manufacturing process scaled for mass production, positioning it to address unmet needs in high-value oncology markets worldwide.
NOK 1.58
NOK 0.07 (-4.24%)
EOD Jul 1, 2026
Negative free cash flow of -NOK 149M. The business is consuming cash, not generating it.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
NOK 0.00
Net Income (TTM)
-NOK 132M
▲ +30.0% YoY
Op. Margin
—
ROIC
-56.72%
▲ +8.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-NOK 142M
▲ +8.6% YoY
Op. Cash Flow (TTM)
-NOK 114M
▲ +14.5% YoY
Net Debt
-NOK 13M
Net Cash Position
Cash & Equiv.
NOK 13M
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Zelluna ASA (ZLNA.XOSL)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Zelluna ASA scores 20/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from SEC filings; read the full . This is analysis, not investment advice.
Zelluna ASA scores 20 out of 100 on Intrinsiqq's quality score, a weighted blend of 4 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a -56.7% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
That depends on valuation and quality together, not either alone. you should weigh ZLNA.XOSL's valuation and scores 20/100 on quality (lower-quality). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.