Xbrane Biopharma releases year-end report for 2017

Press release
2018-02-28

 

Xbrane Biopharma AB's (publ.) ("Xbrane") year-end report for 2017 is now available on the Company's website, www.xbrane.com.

Financial summary fourth quarter 2017

  • Revenue amounted to SEK 9,535 thousand (-).
  • Gross margin amounted to 24% (-).
  • EBITDA amounted to SEK -17,992 thousand (-8,106).
  • R&D expenses amounted to SEK 17,531 thousand (9,843) representing 79% (91) of total operating expenses.
  • Profit for the period amounted to SEK -19,157 thousand (-8,735).
  • Earnings per share of SEK -3.22 (-1.85)

Financial summary full year 2017

  • Revenue amounted to SEK 20,771 thousand (-).
  • Gross margin amounted to 24% (-).
  • EBITDA amounted to SEK -40,726 thousand (-25,497).
  • R&D expenses amounted to SEK 37,982 thousand (23,858) representing 79% (79) of total operating expenses.
  • Profit for the period amounted to SEK-44,935 thousand (-27,769).
  • Earnings per share of SEK -8.28 (-6.16).
  • Cash and cash equivalents at end of year of SEK 7,903 thousand (31,338).
  • The Board propose no dividend for the fiscal year 2017.

Significant events during the fourth quarter 2017

  • Xbrane signed an agreement with BL&H for the sale and marketing of Spherotide in South Korea.
  • Serendipity Ixora proposed distribution of its Xbrane shares to its shareholders after which Serendipity Group (in January 2018) became the largest shareholder in Xbrane.
  • Xbrane's largest shareholder, Serendipity Group, issued a credit facility of SEK 50,000 thousand to the company.
  • Dina Jurman, Head of Clinical Affairs, was appointed a member of the management team.
  • Carlo Colombo, production manager for long-term injectable drugs included in the management team, filed his resignation application. The recruitment process for the position is ongoing

Significant events after the period

  • Xbrane entered into a licensing agreement with CR Pharma for the sale and marketing of Spherotide in China.

About Xbrane
Xbrane is a commercial phase Swedish biopharmaceutical company specialized in biosimilars and long-acting injectables. Xbrane has world leading expertise in developing generics for long-acting injectable drugs and proprietary high-yield protein expression technology for the development of biosimilars. Xbrane's headquarter is located in Stockholm and the company's in-house research and development facilities are in Sweden and Italy. Xbrane is listed at Nasdaq First North since February 3rd, 2016 under the name XBRANE and Avanza Bank AB is Xbrane's certified adviser. For more information see www.xbrane.com.

For further information, please contact:
Martin Åmark
Chief Executive Officer
M: +46 (0) 763-093 777
E: martin.amark@xbrane.com

Susanna Helgesen
CFO/IR, Xbrane Biopharma AB
M: +46 (0) 708-278 636
E: susanna.helgesen@xbrane.com

This information is information that Xbrane Biopharma AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation no. 596/2014. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 February 28, 2018.