European Investor
12 Nov 2026, 09:24
Alvotech Rises 6.7% Premarket as Q3 Product Revenue Jumps and EBITDA More Than Doubles
Alvotech (NASDAQ: ALVO) shares rose about 6.7% in premarket trading after the biosimilar drugmaker reported stronger third-quarter commercial performance, sharply higher adjusted EBITDA and continued manufacturing and pipeline progress.
Third-quarter total revenue was $111.6 million, down 2% year over year, but product and service revenue increased 78.3% to $58.2 million. Adjusted EBITDA more than doubled to $31.5 million from $14.4 million a year earlier.
For the first nine months of 2026, total revenue declined 23% to $323.4 million, while gross margin fell to 54% from 59%. However, adjusted EBITDA increased 15.1% to $78.3 million.
Alvotech highlighted several regulatory and manufacturing milestones. The FDA accepted its application for AVT80, a proposed biosimilar to Entyvio, while Alvotech and Advanz Pharma submitted what they described as the first proposed biosimilar application for high-dose Eylea. The company also secured FDA approvals that expand Simlandi manufacturing capacity in Reykjavik, including a process that more than doubles output per batch.
The company maintained its full-year 2026 guidance for revenue of $650-$700 million and EBITDA of $180-$220 million, although it now expects results toward the lower end of those ranges.
Alvotech ended September with $61.5 million in cash, down from $172.4 million at the end of 2025, leaving execution on fourth-quarter product deliveries particularly important.
The 6.7% premarket gain appears to reflect the strong rebound in product revenue, significant Q3 EBITDA growth and improved manufacturing capacity, despite lower year-to-date revenue and a more cautious position within the existing full-year guidance range.
Alvotech (NASDAQ: ALVO) shares rose about 6.7% in premarket trading after the biosimilar drugmaker reported stronger third-quarter commercial performance, sharply higher adjusted EBITDA and continued manufacturing and pipeline progress.
Third-quarter total revenue was $111.6 million, down 2% year over year, but product and service revenue increased 78.3% to $58.2 million. Adjusted EBITDA more than doubled to $31.5 million from $14.4 million a year earlier.
For the first nine months of 2026, total revenue declined 23% to $323.4 million, while gross margin fell to 54% from 59%. However, adjusted EBITDA increased 15.1% to $78.3 million.
Alvotech highlighted several regulatory and manufacturing milestones. The FDA accepted its application for AVT80, a proposed biosimilar to Entyvio, while Alvotech and Advanz Pharma submitted what they described as the first proposed biosimilar application for high-dose Eylea. The company also secured FDA approvals that expand Simlandi manufacturing capacity in Reykjavik, including a process that more than doubles output per batch.
The company maintained its full-year 2026 guidance for revenue of $650-$700 million and EBITDA of $180-$220 million, although it now expects results toward the lower end of those ranges.
Alvotech ended September with $61.5 million in cash, down from $172.4 million at the end of 2025, leaving execution on fourth-quarter product deliveries particularly important.
The 6.7% premarket gain appears to reflect the strong rebound in product revenue, significant Q3 EBITDA growth and improved manufacturing capacity, despite lower year-to-date revenue and a more cautious position within the existing full-year guidance range.
