Xbrane Biopharma releases interim report for January – September 2020

English

Interim

MAR

News

Regulatory

Report

Despite the impact from Covid-19, the last patient was recruited in November to the ongoing registration based phase III study, Xplore.

Xbrane Biopharma AB’s (publ.) (”Xbrane”) interim report for January – September 2020 is now available on the Company’s website, www.xbrane.com.

Financial summary third quarter 2020

Revenue amounted to SEK 0.0 M (0.0).
Other operating income amounted to SEK 5.2 M (1.4).
EBITDA was SEK -55.8 M (-35.6*).
R&D expenses amounted to SEK 52.0 M (31.4*). representing 83% (80*) of total operating expenses.
The loss for the period was SEK -57.7 M (-38.0*).
Earnings per share was SEK -2.99 (-2.63*).
Cash and cash equivalents at the end of the period amounted to SEK 123.8 M (162.2).

Financial summary of first nine months 2020

Revenue amounted to SEK 0.0 M (0.0).
Other operating income amounted to SEK 15.4 M (4.4).
EBITDA was SEK -157.4 M (-114.6*).
R&D expenses amounted to SEK 144.7 M (101.3*) representing 81% (81) of total operating expenses.
The loss for the period was SEK -163.0 M (-121,3*).
Earnings per share was SEK -9.49 (-12.42*).

Significant events during the third quarter 2020

An Extraordinary General Meeting on September 22 authorized the Board to decide on an issue corresponding to 20% dilution.
Margareta Hagman entered the position as CFO from 30 September.

Significant events after the period

As of the 11th of November, the last patient in the ongoing pivotal phase III trial XPLORE was recruited.
Xbrane completed a directed share issue of approximately SEK 200 M. A number of Swedish and international institutional investors, including Swedbank Robur Fonder, TIN Fonder, Andra AP-fonden and Lancelot Asset Management have subscribed for shares in the directed share Issue.

*This period has been recalculated due to restatement, see Appendix 1 in the interim report for the effects.

Xbrane Biopharma AB invites to a teleconference for investors, analysts and media on November 13, 2020, at 10.00 a.m. CET. See below link and call in details to the presentation below:

https://edge.media-server.com/mmc/p/jcuq48x6
Standard international: +44 (0) 2071 928338
UK (Local): +44 (0) 8444819752
UK (Tollfree): 08002796619
Sweden (Local): +46 (0) 856618467
Sweden (TollFree): 0200125160
US (LocaL): +1 6467413167
US (TollFreee): +1 8778709135

Confirmation Code: 1225339

About Us

Xbrane Biopharma AB develops biological drugs based on a platform technology that provides significantly lower production costs compared to competing systems. Xbrane’s leading product Xlucane, a Lucentis® biosimilar candidate, addresses the €10.4b ophthalmic VEGFa inhibitor market. Xlucane is in phase III and marketing authorization is expected mid-2022. Xbrane has additionally four biosimilars in its pipeline targeting €8.7b in originator sales. 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.