Orexo Q1 2024 Interim Report
Orexo's Q1 2024 interim report shows positive EBITDA growth, with total net revenues of SEK 139.3 million. The company reported a net earnings improvement, with key data on clinical studies and product stability. Orexo also secured a social bond for refinancing and obtained a new patent. CEO highlights financial stability and R&D progress, aiming for product launch in late 2024 or early 2025.
Positive EBITDA growth with total net revenues of SEK 139.3 million.
Net earnings improvement compared to the previous year.
Clinical phase 1 study and stability data for OX640 presented at a major conference.
Secured a four-year senior secured social bond of SEK 500 million for refinancing.
Obtained a second patent in the US for OX640.
CEO highlights financial stability and efficiency improvements, aiming for a product launch in late 2024 or early 2025.
Net earnings still negative, with a reported SEK -8.9 million.
Cash flow from operating activities negative at SEK -18.9 million.
Need for additional documentation may delay the launch of OX124 product.
UPPSALA,
Starting 2024 with a positive EBITDA
Q1 2024 highlights
- Total net revenues of
SEK 139.3 m (158.8) - EBITDA of
SEK 15.9 m (-41.1) - Net earnings of
SEK -8.9 m (-63.9) - US Commercial segment net revenues of
SEK 129.3 m (140.3), in local currencyUSD 12.4 m (13.5) - Cash flow from operating activities of
SEK -18.9 m (-61.6), cash and invested funds ofSEK 198.0 m (278.9) - Earnings per share before and after dilution amounted to
SEK -0.26 (-1.86) - MODIA® and Vorvida® were reimbursed within the US Veterans Affairs Federal Supply Schedule as of January 1, 2024
- Data from the clinical phase 1 study and stability data for OX640, a nasal epinephrine powder product, were presented at the American Academy of Allergy, Asthma & Immuniology Annual Meeting in
Washington DC - Orexo and Sobi agreed to advance feasibility study where AmorphOX® is tested with one of their biomolecules
- To refinance the existing bond a four year senior secured social bond of
SEK 500 million was issued - The new bond was classified as a social bond after a social financing framework was established, which underwent an independent review by Morningstar Sustainalytics.
Important events after the end of the period
- Second patent in the US granted for OX640.
SEK m unless otherwise stated | 2024 | 2023 | 2023 |
Net revenues | 139.3 | 158.8 | 638.8 |
Cost of goods sold | -13.3 | -28.7 | -88.9 |
Operating expenses | -130.7 | -189.4 | -659.5 |
EBIT | -4.7 | -59.3 | -109.5 |
EBIT margin | -3.4 % | -37.4 % | -17.1 % |
EBITDA | 15.9 | -41.1 | -32.5 |
Earnings per share. before dilution. SEK | -0.26 | -1.86 | -3.73 |
Earnings per share. after dilution. SEK | -0.26 | -1.86 | -3.73 |
Cash flow from operating activities | -18.9 | -61.6 | -95.0 |
Cash and invested funds | 198.0 | 278.9 | 171.0 |
CEO Comments in brief: Creating a stable financial platform
I am pleased to report a significant improvement in our financial results with an EBITDA increasing
For the full CEO Comments read the PDF
Contact persons quarterly report
Nikolaj Sørensen, President and CEO, Fredrik Järrsten, EVP and CFO, or Lena Wange,
IR & Communications Director Tel: +46 18 780 88 00, +1 855 982 7658, E-mail: ir@orexo.com.
Presentation
On May. 8, at 1 pm CET analysts, investors and media are invited to attend a presentation, incl. a Q&A.
To attend via teleconference where you can ask questions verbally:
https://conference.financialhearings.com/teleconference/?id=50048736
When registered you will be provided phone numbers and a conference ID to access the conference.
To attend via webcast:
https://ir.financialhearings.com/orexo-q1-report-2024
Prior to the call, presentation material will be available on the website under Investors/ Reports/Audiocasts.
This information is information that Orexo AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out above at 8 am CET on May 8, 2024.
This information was brought to you by Cision http://news.cision.com
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The following files are available for download:
Orexo Q1 2024 Interim Report |
View original content:https://www.prnewswire.com/news-releases/orexo-q1-2024-interim-report-302139330.html
SOURCE Orexo
FAQ
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