Xbrane Biopharma releases Year-end report 2020

Xbrane Biopharma AB’s (publ.) (”Xbrane”) year-end report for 2020 is now available on the Company’s website, www.xbrane.com.

Financial summary fourth quarter 2020

• Revenue amounted to SEK 0.0 M (0.0).
• Other operating income amounted to SEK 5.3 M (2.0).
• EBITDA was SEK -61.3 M (-47.8*).
• R&D expenses amounted to SEK 58.6 M (36.3*) representing 86% (73*) of total operating expenses.
• The loss for the period was SEK -63.1 M (-66.7*).
• Earnings per share amounted to SEK -3.02 (-4.33*).
• Cash and cash equivalents at the end of the period amounted to SEK 243.1 M (164.2).

Financial summary of full year 2020

• Revenue amounted to SEK 0.0 M (0.0).
• Other operating income amounted to SEK 20.7 M (6.4).
• EBITDA was SEK -218.7 M (-162.4*).
• R&D expenses amounted to SEK 203.3 M (137.7*) representing 83% (79*) of total operating expenses.
• The loss for the period was SEK -226.0 M (-188.0*).
• Earnings per share amounted to SEK -12.48 (-16.80*).
• The Board of Directors proposes that no dividend be paid for the financial year 2020.

Significant events during the fourth quarter 2020

• On November 11, the last patient was recruited for the registration-based phase III study Xplore. The study aims to demonstrate the equivalent efficacy and safety of Xlucane® compared to Lucentis® and includes a total of 583 patients globally.
• In November, Xbrane carried out a directed new share issue of SEK 200 M (before transaction costs). A number of Swedish and international institutional investors, including Swedbank Robur Fonder, TIN Fonder, Andra AP-fonden and Lancelot Asset Management, subscribed for shares in the directed new share issue.
• At the beginning of December, Nina Ivers started work as Xbrane’s Head of HR.

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

Significant events after the quarter

• At the start of January 2021, Xbrane renegotiated an existing intellectual property license agreement with Vaxiion Therapeutics. The renegotiated license agreement gives Xbrane full non-exclusive rights to the aforementioned intellectual property rights.
• Anette Lindqvist took over as Chief Financial Officer & Head of Investor Relations at the start of January 2021.
• Xbrane has entered into a non-binding term-sheet with New Fadem S.r.l for the divestment of the subsidiary Primm Pharma. The purchase price amounts to €14.0m, to be paid in part upfront and on development and sales related milestones. The parties intend to complete the transaction during 2021.

Xbrane Biopharma AB invites to a teleconference for investors, analysts and media on February 26, 2021, at 10.00 a.m. CET. See below link and call in details to the presentation below: https://edge.media-server.com/mmc/p/p4j8x94s

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