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:

Key Details

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

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.)