Simris Alg Q2 EBITDA loss narrows
Simris Alg Q2 EBITDA loss narrows
Overview
Sweden biologics firm's Q2 revenue fell 71% yr/yr
Q2 EBITDA loss narrowed 35% yr/yr
Company advanced divestment of Hammenhög assets and expects EUR 1 mln from warrant exercises
Outlook
Company expects proceeds from warrant exercises to extend financial runway and support strategic priorities
Simris Group continues efforts to divest Hammenhög facility to strengthen financial position
Company plans to accelerate ADC technology development and consider new payload types
Result Drivers
LEADERSHIP CHANGES - Co appointed new CEO for Simris Biologics and added a strategic advisor to support oncology platform and strategic development
ASSET DIVESTMENT - Co continued divestment process for Hammenhög assets to strengthen financial position
Company press release: ID:nMFN7XHzWk
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| SEK 196,000 |
|
Q2 EBIT |
| -SEK 5.44 mln |
|
Q2 EBITDA |
| -SEK 1.93 mln |
|
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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.)