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Sweden's Xbrane Biopharma Q3 revenue jumps on strong Ximluci sales

By Reuters News


Overview

  • Sweden biosimilar drug developer's Q3 revenue rose sharply, driven by Ximluci product sales

  • Q3 EBITDA loss narrowed compared to prior year

  • After quarter end, company received FDA approval for ranibizumab biosimilar candidate


Outlook

  • Company did not provide specific financial or operational guidance for future periods in its press release


Result Drivers

  • XIMLUCI SALES - Q3 revenue growth was almost entirely driven by increased product sales of Ximluci

  • OTHER OPERATING INCOME - Co reported higher other operating income in Q3 compared to prior year

  • R&D SPENDING - R&D costs decreased as a share of total operating costs in Q3


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

SEK 54.80 mln

SEK 24 mln (1 Analyst)

Q3 Loss Per Share

SEK 0.57

Q3 Net Loss

SEK 11.70 mln

Q3 EBITDA

-SEK 6.60 mln


Analyst Coverage

  • Wall Street's median 12-month price target for Xbrane Biopharma AB is SEK16.25, about 25% above its October 29 closing price of SEK13.00


Reuters Recommended Reads

  • Oct 28 - Sweden's Newbury Pharmaceuticals Q4 revenue more than doubles on new product launches

  • Oct 28 - Sweden's BioInvent Q3 net sales rise but loss narrows

  • Oct 27 - China's Hengrui Pharma nine-month profit rises on out-licensing gains


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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