Photocure Raises 2026 Product Revenue Growth Guidance After Flat Third-Quarter Sales

Photocure ASA raised its 2026 product revenue growth guidance to a range of 10% to 12% on a constant currency basis, from 8% to 11% previously, as it reported third-quarter Hexvix/Cysview revenues of NOK 134.2 million. The Norwegian bladder cancer diagnostics company announced the results on October 28, 2026, according to PR Newswire.

Photocure's Third-Quarter Revenue and Guidance

Photocure is a commercial-stage diagnostics company that markets Hexvix/Cysview blue light cystoscopy products for bladder cancer detection to urologists, hospitals and clinics in North America and Europe. Third-quarter Hexvix/Cysview revenues of NOK 134.2 million compared with NOK 134.1 million in the third quarter of 2025. Adjusted EBITDA was NOK 18.5 million, against NOK 18.9 million a year earlier, and total revenues were NOK 140.9 million, up from NOK 135.0 million.

Reported EBITDA was NOK 4.0 million, compared with NOK 10.2 million, and EBIT was NOK -3.4 million, against NOK 2.9 million. Cash and cash equivalents stood at NOK 162.4 million at the end of the period. Photocure installed 13 new Saphira towers in the U.S. during the quarter, including 9 in new accounts and 4 upgrades, and had 454 active U.S. accounts at quarter-end, an increase of 20% versus the third quarter of 2025.

"We believe these complementary capabilities can create new opportunities to improve patient care, expand our addressable market and deliver sustainable long-term growth," said Dan Schneider, President and Chief Executive Officer of Photocure. The company also appointed Dennis Camporeale as Chief Financial Officer, citing his background in medtech and diagnostics investment banking.

Photocure's Vesica Health and Artera Work

According to akta.pro company records, Photocure acquired Vesica Health Inc. in June 2026 for approximately $30.5 million, adding the AssureMDx urine-based molecular diagnostic test. Photocure said it expects initial AssureMDx revenue in 2027, with reimbursement secured during the first half of 2027. The same records show a June 2026 joint research initiative with Artera to validate the ArteraAI Bladder Test using Photocure's U.S. BLC registry data.

FDA Proposal and Earlier Photocure Results

The FDA published a proposed order in August 2026 to reclassify blue light cystoscopy systems from Class III to Class II, shifting the regulatory pathway from PMA to 510(k) clearance, AInvest reported on August 16, 2026. Photocure reported 11% product revenue growth in the second quarter of 2026, with North America up 12%, while completing the Vesica Health acquisition, Yahoo reported on July 29, 2026. Photocure appointed Camporeale as CFO effective October 26, 2026, news.cision.com reported on October 22, 2026.

Photocure's 2027 Product Plans

Photocure co-developed a 4K global Flex system with Richard Wolf for flexible blue light cystoscopy, targeted for global launch in 2027, according to akta.pro company records. The company said the Photocure and Claritas co-sponsored ENAiBLE trial has recruited over 100 patients.