Xbrane Biopharma releases interim report for January – March 2021
"During the first quarter of the year, a new Biotech lab was established which enables a faster and broader supply of clinical development programs in the future. Xbrane will have the capacity to initiate a new development program every year."
Xbrane Biopharma AB’s (publ.) (”Xbrane”) interim report for January – March 2021 is now available on the Company’s website, www.xbrane.com.
Financial summary first quarter 2021
- Revenue amounted to SEK 0m (0).
- Other operating income amounted to SEK 4.1m (4.9).
- EBITDA was SEK -49.0m (-50.0*).
- R&D expenses amounted to SEK 46.0m (-47.5*) representing 83 percent (84*) of total operating expenses.
- The loss for the period was SEK 51.3m (-51.8*).
- Earnings per share was SEK -2.31 (-3.36*).
- Cash and cash equivalents at the end of the period amounted to SEK 239.2m (84.5).
*This period has been recalculated due to restatement, see Appendix 1 in the interim report for the effects.
Significant events during the first quarter 2021
- In early January 2021, Xbrane renegotiated an existing intellectual property license agreement with Vaxiion Therapeutics.
- Xbrane signed a non-binding letter of intent with New FaDem in February 2021, regarding the divestment of the subsidiary Primm Pharma.
- Anette Lindqvist took over as Chief Financial Officer & Head of Investor Relations in early January 2021 and Erik Domines took over as General Counsel in March 2021.
- Xbrane established a new development laboratory for biosimilars at Campus Solna outside Stockholm in March 2021.
Significant events after the period
- There have been no significant events after the end of the quarter.
Xbrane Biopharma AB invites to a teleconference for investors, analysts and media on May the 6th, 2021, at 10.00 a.m. CET. See below link and call-in details to the presentation below.
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