MOLN Stock — Molecular Partners AG: Cash, EV, Pipeline

What they do

We were incorporated in Switzerland as an Aktiengesellschaft , or AG, on November 22, 2004 and are subject to article 620 et seq. of the Swiss Code of Obligations. Our principal executive offices are located at Wagistrasse 14, 8952 Schlieren, Switzerland. We are registered with the commercial register of the Canton of Zurich under number CHE-112.115.136.

Source: 20-F FY2025 via SEC EDGAR

Share price

$3.14

Market cap

$117.8M

Cash

$100.3M

Enterprise value

$17.5M

Balance sheet

Cash	$100.3M
Debt	$0.0M
Net cash	$100.3M
Enterprise value	$17.5M
Basic shares	37.5M shares
Fully diluted shares	43.8M shares
Fully diluted market cap	$137.5M
Cash per share	$2.67

Cash figures as of 2025-12-31. Database snapshot: 2026-11-07.

Share structure

Common

40.4M

Pre-funded warrants

0.0M

Options

0.0M

RSUs

3.4M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

43.8M

Cap table as of 2025-12-31.

Price history

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Next catalyst

MP0317 · Est. Jul 2, 2027 · guidance midpoint · guided in 8 wks

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Jul 2, 2027 in 8 wks guidance midpoint	MP0317 Phase 2 TACTIC study of MP0317	Phase 2	Not disclosed	2027

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

MP0317

Stage not disclosed · Active Modality: DARPin

Target CD40 + FAP

Indications

Oncology (combination therapies) (Stage not disclosed)

Status note Oncology program candidate; new clinical trial in combination with other therapies to be initiated. No phase or target stated in excerpts.

MP0533

Phase 1 · Active Modality: DARPin (CD3 T-cell engager)

Target CD3

Indications

Acute myeloid leukemia (AML) (Phase 1)

Status note CD3 T-cell engaging DARPin against AML; Phase 1 ongoing with potential expansion.

MP0712

Preclinical · Active Modality: Radio DARPin Therapy (RDT)

Target DLL3

Partnerships Orano Med (subsidiaries of Orano SA): collaboration on Radio DARPin Therapy.

Indications

Small cell lung cancer (Preclinical)

Status note DLL3-targeting RDT; Phase 1 clinical trial being prepared.

MP0726

Preclinical · Active Modality: Radio DARPin Therapy (RDT)

Target MSLN

Partnerships Orano Med (subsidiaries of Orano SA): collaboration on Radio DARPin Therapy.

Indications

Ovarian cancer (Preclinical)

Status note MSLN-targeting RDT; Phase 0 and Phase 1 clinical trials being prepared.

Per-asset detail extracted from the 20-F filed 2026-03-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
BVF Partners	1,353,968	no change	0.13%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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MOLN — Molecular Partners AG ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Specialist fund holders

Latest news

MOLN — Molecular Partners AG