Sweden's Xbrane Biopharma posts Q2 net loss
Sweden's Xbrane Biopharma posts Q2 net loss
Overview
Sweden biosimilars developer's Q2 revenue rose yr/yr
Company posted Q2 net loss and SEK -0.55 EPS
Resubmitted Lucentis biosimilar BLA to FDA and signed new XdarzaneTM partnership
Outlook
Company did not provide specific financial guidance for the current or upcoming periods in the press release
Result Drivers
PARTNERSHIP AGREEMENTS - Revised Intas agreement shifted certain development costs away from Xbrane, and new JOINN Biologics partnership enabled continued XdarzaneTM development without further direct investment from Xbrane
LOWER R&D COSTS - R&D costs declined compared to the previous year, reducing overall operating expenses
Company press release: ID:nMFN5t21cC
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | SEK 46.80 mln | SEK 28 mln (2 Analysts) |
Q2 EPS |
| -SEK 0.55 |
|
Q2 Net Income |
| -SEK 11.40 mln |
|
Q2 EBITDA |
| -SEK 6.30 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Xbrane Biopharma AB is SEK15.00, about 40.2% above its July 16 closing price of SEK10.70
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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.)