Shares in Faron Pharmaceuticals, a clinical-stage immunotherapy developer, climbed today after the company published its 2025 results, outperforming a broadly weaker Helsinki market. The OMX Helsinki 25 index fell 1.49% in the afternoon.

Today’s new earnings reports drove share prices in different directions. Faron’s stock rose about 9% to €0.64, while Administer, a provider of payroll and financial management services, gained around 7% to €2.46. LeadDesk, a cloud-based customer service and sales software provider, slipped about 1.3% to €5.92.

Faron reported an operating loss of €19.0 million for 2025, slightly wider than €18.7 million a year earlier, as research and development spending increased to €12.7 million from €11.7 million while the company advanced its lead immunotherapy candidate, bexmarilimab. Loss per share narrowed to €0.24 from €0.29.

CEO Juho Jalkanen said the company made progress with its clinical program. “We achieved significant clinical and regulatory milestones and presented continuously improving data from the BEXMAB trial in higher-risk myelodysplastic syndrome,” he said. Faron ended the year with €12.3 million in cash and is planning a rights issue of about €40 million to fund further development. The company does not provide short-term financial guidance.

LeadDesk reported stronger growth but its shares edged lower. Revenue rose 24.6% to €39.4 million in 2025, driven mainly by the Zisson acquisition, while EBITDA increased to €6.7 million, lifting the margin to 16.9% from 14.9% a year earlier. The company posted an EBIT loss of €1.1 million, compared with a €0.4 million loss in 2024, and the net result turned to a €2.3 million loss from a €0.6 million profit.

CEO Olli Nokso-Koivisto said profitability improved during the year. “Our full-year EBITDA margin increased to 16.9%, while revenue grew to €39.4 million, driven by the Zisson acquisition,” he said. LeadDesk expects an EBITDA margin of 15–20% in 2026, but did not provide revenue guidance.

Administer’s revenue declined 1.9% to €73.3 million as weak demand in staffing services weighed on sales. However, EBITDA rose to €5.8 million from €5.5 million, the highest level in the company’s history, lifting the margin to 7.9% from 7.4%. Net loss narrowed to €1.6 million from €2.3 million.

CEO Kimmo Herranen said profitability gains reflected efficiency measures. “Absolute EBITDA reached an all-time high despite declining revenue, showing our efficiency program is delivering results,” he said. The company proposed a €0.05 dividend per share and expects to update its 2026 outlook after completing the planned Sarastia business acquisition.