Sweden's Ascelia Pharma Q3 operating loss narrows after cost cuts
Sweden's Ascelia Pharma Q3 operating loss narrows after cost cuts
Overview
Sweden biotech firm's Q3 operating loss narrowed from a year earlier
Loss per share for Q3 improved to SEK -0.08 from SEK -0.13 last year
Company received FDA Complete Response Letter for Orviglance and implemented cost-saving measures
Outlook
Company is evaluating next steps for Orviglance in the U.S. after FDA requested more data
Company to advance regulatory activities in Europe and continue partnering process
Cost-saving measures implemented to support regulatory activities and increase financial flexibility
Result Drivers
COST-SAVING MEASURES - Co said it implemented cost-saving measures following FDA Complete Response Letter, which strengthened cash position and increased financial flexibility
REGULATORY PATHWAY - Co is evaluating options to advance Orviglance in the U.S. after FDA requested additional clinical evidence, focusing on alternatives that build on existing data
Company press release: ID:nMFN5fxpHY
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Loss Per Share |
| SEK 0.08 |
|
Q3 Cash Flow From Operations |
| -SEK 10.10 mln |
|
Q3 EBIT |
| -SEK 10.40 mln |
|
Analyst Coverage
Wall Street's median 12-month price target for Ascelia Pharma AB is SEK4.83, about 844.2% above its November 4 closing price of SEK0.51
Reuters Recommended Reads
Nov 3 - Sweden's SynAct Pharma Q3 net loss narrows as expenses fall
Nov 5 - Sweden's Camurus Q3 revenue beats estimates on Buvidal, Brixadi growth
Nov 4 - Switzerland's MoonLake Q3 net loss widens as R&D costs rise
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)