Sweden's Orexo Q3 revenue falls sharply, net loss widens
Sweden's Orexo Q3 revenue falls sharply, net loss widens
Overview
Sweden specialty pharma firm's Q3 revenue fell sharply yr/yr to SEK 0.8 mln
Company posted wider Q3 net loss and negative EPS
Board announced SEK 250 mln rights issue after quarter-end to bolster finances
Outlook
Company did not provide specific financial guidance for the current or coming periods in the press release
Result Drivers
LOW REVENUE - Co attributed weak Q3 revenue to ongoing transformation and absence of major product launches or commercial activities
R&D INVESTMENT - Operating expenses remained high, with 48% spent on research and development
PIPELINE PROGRESS - Co highlighted regulatory milestones for Izipry, OX640 and OX390 as key operational achievements in the quarter
Company press release: ID:nMFN8GMNQs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | SEK 800,000 | SEK 4.75 mln (2 Analysts) |
Q3 Loss Per Share |
| SEK 3.36 |
|
Q3 EBIT |
| -SEK 98.50 mln |
|
Q3 EBITDA |
| -SEK 90.40 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the pharmaceuticals peer group is "buy"
Wall Street's median 12-month price target for Orexo AB is SEK38.25, about 615% above its October 21 closing price of SEK5.35
Reuters Recommended Reads
Oct 21 - Medical gear maker Getinge beats Q3 profit estimates on pricing, product mix
Oct 19 - Germany's Merck buys Silence Therapeutics in $1.3 billion RNA drug deal
Oct 19 - France's Poxel Q3 revenue rises on higher TWYMEEG royalties
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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.)