Xbrane Biopharma releases interim report for the second quarter of 2018

Press release
2018-08-24

 

Xbrane Biopharma AB's (publ.) ("Xbrane") interim report for the second quarter of 2018 is now available on the Company's website, www.xbrane.com.

Financial summary second quarter 2018

  • Revenues amounted to SEK 4,532 thousand (4,444).
  • Gross margin amounted to 18% (31).
  • Other income amounted to SEK 722 thousand (256).
  • EBITDA amounted to SEK -30,453 thousand (-6,897).
  • R&D expenses amounted to SEK -27,965 thousand (5,919) representing 87% (69) of total operating expenses.
  • Profit for the period amounted to SEK -31,993 thousand (-7,961).
  • Earnings per share of SEK -5.13 SEK (-1.58).
  • Cash and cash equivalents by the end of the period amounted to SEK 19,255 thousand (32,365).

Financial summary first half year 2018

  • Revenues amounted to SEK 13,148 thousand (11,284).
  • Gross margin amounted to 21% (26).
  • Other income amounted to SEK 14 396 thousand (396).
  • EBITDA amounted to SEK -37,796 thousand (-14,693).
  • R&D expenses amounted to SEK -48,225 thousand (-13,830) representing 88% (77) of total operating expenses.
  • Profit for the period amounted to SEK -40,909 thousand (-16,686).
  • Earnings per share of SEK -6.56 SEK (-3.41).

Significant events during the first quarter 2018

  • Serendipity Group became the largest shareholder after Serendipity Ixora distributed its Xbrane shares to its shareholders.
  • Xbrane entered into a licensing agreement with CR Pharma for the sale and marketing of Spherotide in China.

Significant events during the second quarter 2018

  • Anders Tullgren was elected Chariman of the Board by the extraordinary general meeting 3 April.
  • A directed issued of total 41,857 shares and 141,785 warrants was conducted and subscribed by members of the Board of Directors and the management.

  

Significant events after the period

  • A co-development agreement was signed with STADA for Xlucane. The co-development deal means that the parties will split expenses for development, marketing and distribution as well as revenues equally. At signing of the agreement, Xbrane received 7.5 MEUR in up-front payment.

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 August 24, 2018.