Sweden's Iconovo Q3 revenue soars on new product development
Sweden's Iconovo Q3 revenue soars on new product development
Overview
Sweden inhaled medicines developer's Q3 revenue rose sharply from a year earlier
Operating loss for Q3 narrowed compared to prior year
Company in advanced talks for licensing and partnership agreements for inhaler platforms
Outlook
Company aims to finalize at least one licensing or partnership deal for ICOres or ICOpre soon
Company says licensing deals for ICOpre could significantly contribute to financing before product launches
Company expects sufficient funding for the next 12 months if planned transactions are completed
Result Drivers
DEVELOPMENT REVENUE - Q3 revenue growth driven by increased income from new pharmaceutical product development
COLLABORATIONS EXPANDED - Co said expanded collaborations, including new agreement with Lonza, supported revenue growth
LOWER PERSONNEL COSTS - Co attributed reduced personnel expenses to prior year reorganisation
Company press release: ID:nMFN9X2FtZ
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| SEK 707,000 |
|
Q3 Adjusted Loss Per Share |
| SEK 0.07 |
|
Q3 Operating Profit |
| -SEK 6.77 mln |
|
Analyst Coverage
Wall Street's median 12-month price target for Iconovo AB is SEK2.65, about 171.5% above its October 22 closing price of SEK0.98
Reuters Recommended Reads
Oct 22 - Sweden's Vitrolife Q3 revenue rises on technology segment growth
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Oct 22 - Sweden's XVIVO Q3 revenue beat expectations on thoracic sales
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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.)