Xbrane Biopharma releases interim report for January – September 2022

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

Financial overview third quarter 2022
• Revenue amounted to SEK 13.9 m (2.3).
• Other operating income was SEK 6.3 m (1.2).
• EBITDA amounted to SEK –37.6 m (–39.5).
• R&D costs amounted to SEK –51.2 m (–36.5), corresponding to 82 percent** (79) of total operating costs.
• The loss for the period was SEK –41.9 m (–45.5).
• Earnings per share was SEK –1.67 (–1.83).
• Cash and cash equivalents at the end of the period amounted to SEK 165.2 m (383.4).

Financial overview first nine months 2022
• Revenue amounted to SEK 36.8 m (7.6).
• Other operating income was SEK 23.9 m (3.5).
• EBITDA amounted to SEK –98.9 m (–140.1).
• R&D costs amounted to SEK –140.1 m (–131.7) corresponding to 82 percent ** (83) of total operating costs.
• The loss for the period was SEK –111.8 m (–155.9).
• Earnings per share was SEK –4.45 (–6.75).
• Cash and cash equivalents at the end of the period amounted to SEK 165.2 m (383.4).

Figures in parentheses refer to the corresponding period last year.

Significant events during the third quarter of 2022

• Xbrane announced in September that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) had adopted a positive opinion for Ximluci®, which was developed under the name Xlucane™, a Lucentis® (ranibizumab) biosimilar candidate. The opinion recommends approval of Ximluci® throughout the EU and has been referred to the European Commission, which will decide on a marketing authorization. Approval can be expected by the end of November.
• Due to the imminent launch of Ximluci®, the company held a capital markets day at the end of September, where there was an update on Xbrane’s long-term strategy, product portfolio, platform technology and an in-depth look at the imminent launch of Ximluci® in Europe.

Significant events after the end of the quarter

• With the support of authorization from the annual general meeting on May 5, 2022, the company announced and carried out a directed new issue in mid-October, of around SEK 170 m at a subscription price of SEK 72 per share. Effects in the balance sheet and cash flow will become visible in the upcoming interim report for October–December 2022.

*) European Medicines Agency’s (EMA’s) committee for Medicinal Products for Human Use (CHMP).
**) See page 9 in the Interim Report for more information on research and development costs.

Xbrane Biopharma AB invites to a teleconference for investors, analysts and media on October 28th, 2022, at 14.00 p.m. CET. See the link to the presentation below.

Web link:
Presentation of Interim Report January-September 2022