Amoéba Transforming into an industrial and commercial company by end FY26

Amoéba stated that in FY25, major regulatory and commercial milestones have laid the groundwork for commercialisation in FY26.
We maintain our positive stance (Buy, € 1.5 TP) as after FY25 marked by intense regulatory and pre-commercial activity (both in biocontrol and cosmetics, as well as recognition from agricultural and wine-growing professionals), FY26 could be a turning point for Amoéba, marking its transformation into an industrial and commercial company. This change is based on the latest regulatory advances, as the ANSES (French Agency for Food, Environmental and Occupational Health & Safety) initiated the final phase of the evaluation of the application for marketing authorisation for the AXPERA biocontrol product , as well as on the effective collaboration with its commercial partner Koppert, leading player in biocontrol.
Related to this final phase of the evaluation of the application for marketing authorisation for the AXPERA biocontrol product, we welcome that the ANSES evaluation process for the application submitted in March 2025 is currently in its final stage. We learned that at the same time, French and Italian agricultural sectors have begun procedures to obtain derogatory marketing authorisations for the use of AXPERA to combat fungal diseases from the start of their production season. Amoéba highlighted that at this stage, there is nothing to prevent the marketing authorisation of the product in FY26.
Amoéba, stated that they have come a long way in recent years and achieved a high level of maturity in scientific, regulatory, industrial and commercial aspects. The progress made and the initial agreements signed with major players in the biocontrol and cosmetics sectors are now contributing to shaping its commercial trajectory and securing the first stages of deployment. Amoéba is entering the phase in which they will begin to reap the rewards of this important work, with commercialisation scheduled to begin this year. We hope FY26 will mark Amoéba's effective entry into a phase of gradual commercial expansion.