NewsXbrane Biopharma releases year-end report for 2017

Xbrane Biopharma AB’s (publ.) (“Xbrane”) year-end report for 2017 is now available on the Company’s website, www.xbrane.com.

Financial summary fourth quarter 2017

  • Revenue amounted to SEK 9,535 thousand (-).
  • Gross margin amounted to 24% (-).
  • EBITDA amounted to SEK -17,992 thousand (-8,106).
  • R&D expenses amounted to SEK 17,531 thousand (9,843) representing 79% (91) of total operating expenses.
  • Profit for the period amounted to SEK -19,157 thousand (-8,735).
  • Earnings per share of SEK -3.22 (-1.85)

Financial summary full year 2017

  • Revenue amounted to SEK 20,771 thousand (-).
  • Gross margin amounted to 24% (-).
  • EBITDA amounted to SEK -40,726 thousand (-25,497).
  • R&D expenses amounted to SEK 37,982 thousand (23,858) representing 79% (79) of total operating expenses.
  • Profit for the period amounted to SEK-44,935 thousand (-27,769).
  • Earnings per share of SEK -8.28 (-6.16).
  • Cash and cash equivalents at end of year of SEK 7,903 thousand (31,338).
  • The Board propose no dividend for the fiscal year 2017.

Significant events during the fourth quarter 2017

  • Xbrane signed an agreement with BL&H for the sale and marketing of Spherotide in South Korea.
  • Serendipity Ixora proposed distribution of its Xbrane shares to its shareholders after which Serendipity Group (in January 2018) became the largest shareholder in Xbrane.
  • Xbrane’s largest shareholder, Serendipity Group, issued a credit facility of SEK 50,000 thousand to the company.
  • Dina Jurman, Head of Clinical Affairs, was appointed a member of the management team.
  • Carlo Colombo, production manager for long-term injectable drugs included in the management team, filed his resignation application. The recruitment process for the position is ongoing

Significant events after the period

  • Xbrane entered into a licensing agreement with CR Pharma for the sale and marketing of Spherotide in China.

Link to the full report 

For further information, please contact:
Martin Åmark
Chief Executive Officer
M: +46 (0) 763-093 777
E: martin.amark@xbrane.com

Susanna Helgesen
CFO/IR, Xbrane Biopharma AB
M: +46 (0) 708-278 636
E: susanna.helgesen@xbrane.com