Xbrane Biopharma releases interim report for January – March 2022









Agreement with Biogen positions Xbrane as a leading global biosimilar developer

Xbrane Biopharma AB’s (publ.) (”Xbrane”) interim report for January – March 2022 is now available on the Company’s website, www.xbrane.com.

Financial summary first quarter 2022
• Revenue amounted to SEK 7.2m (2.5).
• Other operating income amounted to SEK 6.2m (2.1).
• EBITDA was SEK -32.9m (-46.8).
• R&D expenses amounted to SEK -35.9m (-45.4) representing 72* percent (84) of total operating expenses.
• The net result for the period was SEK -36.1m (-51.3).
• Earnings per share was SEK -1.50 (-2.21).
• Cash and cash equivalents at the end of the period amounted to SEK 301.5m (239.2).

Numbers in parentheses refer to the corresponding period previous year.

Significant events during the first quarter 2022
• In February, an agreement was signed with Biogen Inc. to be a development and commercialization partner for Xcimzane™, a biosimilar candidate for Cimzia®. According to the agreement, Xbrane will be responsible for the preclinical development, after which Biogen will take over and run and finance the remaining development, including clinical studies. Biogen will pay an up-front fee of USD 8 m, milestone payments of USD 80 m and royalties on future sales.

• Complete top-line data was also published from the Xplore clinical equivalence study for Xlucane™, a biosimilar candidate for Lucentis®. By Xbrane’s assessment, Xlucane™ met the primary outcome measure and no clinically significant differences were observed regarding secondary efficacy and safety measures.

• Furthermore, the company announced in February that its subsidiary Primm Pharma had a positive cash flow through royalties from the licensing of IP and production equipment to its production partner ICI. Attempts to divest the subsidiary continue and dialogue with stakeholders is ongoing.

Significant events after the period
• No significant event has occurred after the period.

1) See page 9 in the Interim report January – March 2022, for more information on research and development costs.

Xbrane Biopharma AB invites to a teleconference for investors, analysts and media on May the 5th, 2022, at 11.00 a.m. CET.
See below link and call-in details to the presentation below.

Web link:
Xbrane interim Report January – March 2022 presentation

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