Xbrane Biopharma AB's (publ.) ("Xbrane") Year-end Report 2023, is as of today, available on the Company's website, www.xbrane.com.
FINANCIAL OVERVIEW
FOURTH QUARTER 2023*
• Revenue amounted to SEK 66.9 m (17.3).
• Other operating income was SEK 3.7 m (0.5).
• EBITDA amounted to SEK -69.2 m (-50.7).
• R&D costs amounted to SEK -79.0 m (-59.5), corresponding to 84 percent (82) of total operating costs.
• The loss for the period was SEK 157.5 m (-60.7).
• Earnings per share was SEK -5.28 (-2.25).
• Cash and cash equivalents at the end of the period amounted to SEK 65.4 m (194.0).
• Goodwill attributable to the subsidiary Primm Pharma has been written down by SEK -64.6 m (0.0).
FINANCIAL OVERVIEW
FULL YEAR 2023*
• Revenue amounted to SEK 238.7 m (57.6).
• Other operating income was SEK 13.7 m (20.9).
• EBITDA amounted to SEK -288.4 m (-149.6).
• R&D costs amounted to SEK -305.8 m (-199.6), corresponding to 82 percent (82) of total operating costs.
• The loss for the period was SEK 388.2 m (-172.5).
• Earnings per share was SEK -13.52 (-6.75).
• Cash and cash equivalents at the end of the period amounted to SEK 65.4 m (194.0).
• Goodwill attributable to the subsidiary Primm Pharma has been written down by SEK -64.6 m (0.0).
*Figures in parentheses refer to the corresponding period of the previous year.
SIGNIFICANT EVENTS DURING
THE FOURTH QUARTER 2023**
• In November, it was announced that the company was focusing its development portfolio and ending the development of Xtrudane (biosimilar candidate for Keytruda®). A cost-saving scheme expected to generate approximately SEK 50 million in annual savings was introduced.
• In December, it was announced that three new patents had been approved by the Swedish Intellectual Property Office (PRV).
SIGNIFICANT EVENTS
AFTER THE END OF THE QUARTER**
• In January, a rights issue of units worth around SEK 343 m was announced, consisting of shares and warrants of series TO1. If the TO1 warrants are fully exercised, Xbrane will receive up to SEK 78 million approximately. The rights issue is subject to approval at an extraordinary general meeting. The purpose of the rights Issue is primarily to finance preparatory activities for the launch of Ximluci® in the US, the launch of Ximluci® PFS, production of clinical material for BIIB801, and the development and production of clinical material for Xdivane, general corporate purposes and prepayment in cash of the next six (6) repayments of convertible bonds to CVI Investments Inc.
**See page 8 for more information
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Xbrane Biopharma Q4 Report 2023 (financialhearings.com)
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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 2024-02-26 08:00 CET.
