Xbrane Biopharma AB's (publ.) ("Xbrane") Year-end Report 2024, is as of today, available on the Company's website, www.xbrane.com.
FINANCIAL OVERVIEW
FOURTH QUARTER 2024*
• Revenue amounted to SEK 65.8 m (66.9).
• Other operating income amounted to SEK 7.1 m (3.7).
• EBITDA amounted to SEK -23.2 m (-77.4).
• R&D costs amounted to SEK -36.4 m (-79.0), corresponding to 36 percent (84) of total operating costs.
• The loss for the period was SEK 53.2 m (-157.5).
• Earnings per share was SEK -0.03 (-0.26).
• Cash and cash equivalents at the end of the period amounted to SEK 124.3 m (65.4).
FINANCIAL OVERVIEW
FULL YEAR 2024*
• Revenue amounted to SEK 198.7 m (238.7).
• Other operating income amounted to SEK 15.8 m (13.7).
• EBITDA amounted to SEK -182.8 m (-288.4).
• R&D costs amounted to SEK -312.9 m (-305.8) corresponding to 76 percent (82) of total operating costs.
• The loss for the period was SEK 266.2 m (-388.2).
• Earnings per share was SEK -0.22 (-0.63).
• Cash and cash equivalents at the end of the period amounted to SEK 124.3 m (65.4).
*Figures in parentheses refer to the corresponding period of the previous year.
SIGNIFICANT EVENTS DURING
THE FOURTH QUARTER 2024**
• In November, the company announced that it had entered into an exclusive licensing and development agreement with Intas Pharmaceuticals for Xbrane's Nivolumab biosimilar candidate (reference product Opdivo®). Intas will finance the clinical and regulatory development activities as well as the global commercialization. Xbrane received an upfront payment of EUR 10 m as well as milestone payments and royalties on revenue after launch. The partnership is expected to facilitate the launch of Xdivane in the US in December 2028, when the patent for the reference product Opdivo® expires.
• In November, Xbrane Biopharma AB announced that Chief Financial Officer & Head of IR, Anette Lindqvist, informed CEO Martin Åmark of her intention to scale down her operational work and leave her position in Spring 2025.
• In December, the company submitted a BLA (Biologics License Application) for its biosimilar candidate for LUCENTIS® to the FDA. The review process for a submitted BLA typically takes up to six months.
SIGNIFICANT EVENTS
AFTER THE END OF THE QUARTER**
• The Company announced in January that Jane Benyamin has been appointed as acting Chief Financial Officer.
**See page 8 for more information
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Q4 Report 2024
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Contacts
Martin Åmark, CEO
E: martin.amark@xbrane.com
Jane Benyamin, CFO/IR
E: jane.benyamin@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 26 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 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 2025-02-20 08:00 CET.
