Xbrane Biopharma AB's (publ.) ("Xbrane") interim report for January - September 2023, is as of today, available on the Company's website, www.xbrane.com.
FINANCIAL OVERVIEW
THIRD QUARTER 2023*
• Revenue amounted to SEK 58.9 m (14.1).
• Other operating income was SEK 2.7 m (6.2).
• EBITDA amounted to SEK -81.6 m (-37.6).
• R&D costs amounted to SEK -81.5 m (-51.2),
corresponding to 84 percent (82) of total operating
costs.
• The loss for the period was SEK 81.2 m (-41.9).
• Earnings per share was SEK -2.78 (-1.67).
• Cash and cash equivalents at the end of the
period amounted to SEK 167.3 m (165.2).
FINANCIAL OVERVIEW
FIRST NINE MONTHS 2023*
• Revenue amounted to SEK 171.8 m (40.3).
• Other operating income was SEK 10.0 m (20.4).
• EBITDA amounted to SEK -211.1 m (-98.9).
• R&D costs amounted to SEK -226.8 m (-140.1),
corresponding to 82 percent (82) of total operating costs.
• The loss for the period was SEK 230.6 m (-111.8).
• Earnings per share was SEK -8.14 (-4.45).
• Cash and cash equivalents at the end of the period amounted to SEK 167.3 m (165.2).
SIGNIFICANT EVENTS DURING
THE THIRD QUARTER 2023**
• In July, it was announced that STADA and Xbrane
had agreed to terminate the commercial license
agreement for North America with their former
partner, Bausch + Lomb. Bausch + Lomb will
now focus on other strategic priorities.
• In August, Xbrane updated its goal to achieve a
positive operating cash flow on a monthly basis
before the end of Q1 2025.
*Figures in parentheses refer to the corresponding period of the previous year.
SIGNIFICANT EVENTS
AFTER THE END OF THE QUARTER**
• In November, the company announced that it was
focusing the company's development portfolio
and, consequently, terminating the development
of XtrudaneTM (biosimilar candidate for Keytruda®).
Furthermore, a cost saving scheme is being introduced which is expected to result in around SEK
50 m in annual savings when fully implemented.
**See page 8 for more information
Xbrane Biopharma AB invites to a teleconference for investors, analysts and media on November 30th, 2023, at 11.00 p.m. CET. See the link to the presentation below:
If you wish to participate via webcast, please use the link below. Via the webcast you are able to ask written questions.
Xbrane Biopharma Q3 Report 2023 (financialhearings.com)
If you wish to participate via teleconference, please register on the link below. After registration you will be provided with phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
Call Access (financialhearings.com)
Contacts
Martin Åmark, CEO
M: +46 76 309 37 77
E: martin.amark@xbrane.com
Anette Lindqvist, CFO/IR
M: +46 76 325 60 90
E: anette.lindqvist@xbrane.com
About Us
Xbrane Biopharma AB develops biological drugs based on a patented platform technology that provides significantly lower production costs compared to competing systems. Xbrane has a portfolio of biosimilar candidates targeting EUR 27 billion in estimated annual peak sales of the respective reference product. The lead candidate Ximluci® is granted market authorization approval in Europe and was launched during the first quarter 2023. Xbrane's head office is in Solna, just outside Stockholm. Xbrane is listed on Nasdaq Stockholm under the ticker XBRANE. For more information, visit www.xbrane.com
This information is information that Xbrane Biopharma is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-11-30 08:00 CET.
