Formycon AG: Shareholder Activity by Active Ownership Fund SICAV SIF SCS
The German biopharmaceutical company Formycon AG (Xetra ticker: FMY) has attracted attention in the last week due to a series of regulatory filings that disclose the sale of shares by the Active Ownership Fund SICAV SIF SCS. The fund’s principal shareholder, Klaus Röhrig, who holds a seat on the company’s supervisory board, has recently executed a transaction that reduced the fund’s stake in the firm.
Regulatory Filings
Three separate filings, made on 13 January 2026 and 14 January 2026, were lodged with the German securities regulator and the German Federal Gazette (Bundesanzeiger). Each filing follows the EQS‑DD (European Qualifying Standard for Disclosure of Direct and Indirect Holdings) framework and lists the following key details:
| Item | Information |
|---|---|
| Entity | Active Ownership Fund SICAV SIF SCS |
| Related Person | Klaus Röhrig – Member of the supervisory board |
| Purpose of Disclosure | Notification of a transaction that changes the fund’s holding in Formycon AG |
| Date of Notification | 13/14 January 2026 (first notification) |
| Nature of Transaction | Sale of shares – the exact number of shares and the transaction price were not disclosed in the summary documents, but the filings confirm a reduction in the fund’s stake. |
| Issuer Details | Formycon AG, Fraunhoferstraße 15, 82152 Planegg‑Martinsried, Germany |
The filings were published on the platforms eqs‑cockpit.com and eqs‑news.com, as well as on the Börsen‑Zeitung website, confirming that the information is publicly available and that the issuer is responsible for its accuracy.
Context within Formycon’s Business
Formycon AG is a specialist in the development and commercialization of biosimilars—biopharmaceuticals that emulate existing drugs whose patents are expiring. With a market capitalization of approximately €444 million and a recent closing price of €25.85 (as of 12 January 2026), the company sits in a competitive niche of the biotechnology sector. Its earnings multiples remain negative, reflecting the ongoing investment required for research and regulatory approval.
The sale by the Active Ownership Fund could be interpreted in a few ways:
- Portfolio Rebalancing – Institutional investors frequently adjust holdings to reflect changing market conditions or risk appetite.
- Strategic Realignment – Klaus Röhrig, as a supervisory board member, might be seeking to align his personal stake with broader corporate strategies or to free capital for other investments.
- Market Sentiment – A reduction in a major institutional shareholder’s position can influence investor perception, potentially impacting short‑term share price volatility.
Market Implications
While the exact quantity of shares sold was not disclosed, the mere fact that a supervisory board member’s affiliated fund has divested shares can trigger analyst commentary and investor reactions. Historically, such transactions have been followed by a brief dip in the stock price, as markets digest the implied confidence—or lack thereof—of insider holders.
Given Formycon’s negative P/E ratio and its status as a biopharmaceutical company working primarily in biosimilars, analysts will likely scrutinize the transaction for signals about the company’s growth prospects, upcoming product pipelines, and any potential strategic shifts in its contract services for other biotechs.
Conclusion
The recent disclosures by Active Ownership Fund SICAV SIF SCS highlight a noteworthy change in the ownership structure of Formycon AG. While the transaction’s size remains undisclosed, its timing and the involvement of a supervisory board member suggest that investors and analysts will keep a close eye on subsequent corporate developments—particularly any announcements regarding new biosimilar candidates or strategic partnerships. The market will be attentive to how this ownership shift may influence Formycon’s trajectory in the competitive biotechnology landscape.
