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2019-02-22 08:00:19

Xbrane Biopharma releases Year-end report for 2018




















Press release
2019-02-22

Xbrane Biopharma AB's (publ.) ("Xbrane") Year-end report for 2018 is now available on the Company's website, www.xbrane.com.

The fourth quarter 2018 in summary

  • Revenue amounted to SEK 4,896 thousand (9,535).
  • Gross margin amounted to 25% (24).
  • Other operating income amounted to SEK 1,305 thousand (1,788).
  • EBITDA amounted to SEK-30,336 thousand (-17,992).
  • R&D expenses amounted to SEK -25,533 thousand (-17,531), corresponding to 78% (79) of total operating expenses.
  • Loss amounted to SEK-32,423 thousand (-19,157).
  • Earnings per share amounted to a SEK-5.12 (-3.22).
  • Cash and cash equivalents amounted to SEK 100,972 thousand (7,903) at the end of the year.

Full year 2018 summary

  • Revenue amounted to SEK 20,485 thousand (20,771).
  • Gross margin amounted to 22% (24).
  • Other operating income amounted to SEK 99,742 thousand (2,515), of which SEK 77,325 thousand was an up-front payment for the co-development agreement with STADA for Xlucane and SEK 13,008 thousand was a milestone payment for the out-licensing of Spherotide to CR Pharma.
  • EBITDA amounted to SEK -6,079 thousand (-41,988).
  • R&D expenses amounted to SEK-85,827 thousand (-37,982), corresponding to 78% (79) of total operating expenses.
  • Loss amounted to SEK -13,236 thousand (-44,935).
  • Earnings per share amounted to SEK -2.13 (-8.28).

Significant events during the fourth quarter 2018

  • In October, Xbrane presented the results of an in-vivo study in rabbits, demonstrating tolerability and a pharmacokinetic profile for Xlucane equivalent to Lucentis®.
  • Application has been filed with the FDA (Food and Drug Administration) in US, for the initiation of the pivotal clinical trial with Xlucane.

Significant events after the end of the year

  • Approval for the initiation of the clinical trial with Xlucane, has been obtained from FDA in US.
  • Martin Åmark, CEO, was appointed to also be the Head of IR. Xbrane's previous Head of IR and CFO, Susanna Helgesen, will be on parental leave on a part-time basis. During the parental leave, Susanna will remain as CFO. The finance team has therefore been expanded with a Group Financial Controller.
  • Board members Alessandro Sidoli and Saeid Esmaeilzadeh decline re-election for 2019.

            

About Xbrane
Xbrane is a commercial phase Swedish biopharmaceutical company specialized in biosimilars. Xbrane has a patented protein production platform for development of biosimilars and world leading expertise in biosimilars. Xbrane's headquarter is located in Solna outside of Stockholm and the company's in-house research and development facilities are in Sweden and Italy. Xbrane is listed at Nasdaq First North since February 3rd, 2016 under the name XBRANE and Avanza Bank AB is Xbrane's certified adviser(corp@avanza.se, +46 (0)8 409 421 20). For more information seewww.xbrane.com.

For further information, please contact:
Martin Åmark, CEO/IR
M: +46 (0) 763-093 777
E: martin.amark@xbrane.com

Susanna Helgesen, CFO
M: +46 (0) 708-278 636

E: susanna.helgesen@xbrane.com

This information is information that Xbrane Biopharma AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation no. 596/2014. The information was submitted for publication, through the agency of the contact person set out above, at February 22, 2019, time as mentioned above.

Press release - Xbrane Biopharma year-end report 2018
Xbrane Biopharma Year-end report 2018

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This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Xbrane Biopharma AB via Globenewswire