Orexo Q2 2021 Interim Report
Orexo's Q2 2021 results show net revenues of SEK 142.8 million, down from SEK 179.1 million year-over-year. Net earnings hit SEK -73.7 million, a decrease from SEK -32.5 million. The company reported an EBITDA of SEK -41.1 million, significantly lower than SEK -9.0 million in the previous year. However, ZUBSOLV® achieved net revenues of SEK 126.0 million in the US market. Key developments include new commercial agreements and the enrollment of the first patient in a pivotal study for modia™.
- First commercial DTx contract signed with Trinity Health North Dakota.
- Enrollment of the first patient in pivotal study for modia™.
- Two new patents issued for ZUBSOLV® with protection until 2032.
- ZUBSOLV® available for Medicaid patients in Kentucky from July 1.
- Net revenues decreased by SEK 36.3 million compared to Q2 2020.
- Net earnings worsened by SEK 41.2 million year-over-year.
- EBITDA decreased by SEK 32.1 million year-over-year.
- Cash flow from operating activities declined by SEK 13.7 million.
UPPSALA, Sweden, July 15, 2021 /PRNewswire/ -- "First commercial DTx contract signed with a large healthcare provider"
Summary
- Total net revenues of SEK 142.8 m (179.1)
- Net earnings of SEK -73.7 m (-32.5)
- EBITDA of SEK -41.1 m (-9.0)
- US Pharma segment (ZUBSOLV® US) net revenues of SEK 126.0 m (172.5), in local currency USD 15.0 m (17.8), EBIT of SEK 61.6 m (88.8)
- Cash flow from operating activities of SEK -20.9 m (-7.2), cash balance of SEK 679.7 m (677.2)
- Two patents for ZUBSOLV®, with protection until 2032, were issued by the US Patent and Trademark Office
- First patient enrolled in pivotal study evaluating the efficacy of modia™ in combination with sublingual buprenorphine/naloxone for the treatment of opioid use disorder
- Commercial agreement for vorvida® and deprexis® signed with Trinity Health North Dakota
Important events after the period
- Commercial partnership agreement signed with Sober Grid, the largest global social media network for people in addiction recovery, giving a large group of users access to vorvida® and deprexis®
SEK m, unless otherwise stated | 2021 Apr-Jun | 2020 Apr-Jun | 2021 Jan-Jun | 2020 Jan-Jun | 2020 Jan-Dec |
Net revenues | 142.8 | 179.1 | 275.1 | 354.2 | 663.6 |
Cost of goods sold | -18.1 | -19.9 | -37.4 | -39.9 | -65.6 |
Operating expenses | -178.7 | -172.5 | -328.7 | -293.6 | -617.9 |
EBIT | -54.0 | -13.3 | -90.9 | 20.7 | -19.9 |
EBIT margin, % | -37.8 | -7.4 | -33.1 | 5.8 | -3.0 |
EBITDA | -41.1 | -9.0 | -65.2 | 30.1 | 19.0 |
Earnings per share, before dilution, SEK | -2.15 | -0.94 | -3.07 | 1.44 | -2.45 |
Earnings per share, after dilution, SEK | -2.15 | -0.94 | -3.07 | 1.44 | -2.45 |
Cash flow from operating activities | -20.9 | -7.2 | -68.7 | 40.9 | 16.8 |
Cash and cash equivalents | 679.7 | 677.2 | 679.7 | 677.2 | 505.3 |
CEO Comments
"The second quarter of 2021 showed some positive operational highlights in both our Digital Therapeutics (DTx) business and US Pharma. In DTx, I'm pleased to announce we've among others reached a commercial agreement with Trinity Health North Dakota. As a result, vorvida® and deprexis® are now also available for patients at their healthcare centers and hospitals. This is a major milestone and is already now an inspiring model for other healthcare providers in the US. In our US Pharma business, it was confirmed that ZUBSOLV® is available for patients within Medicaid in Kentucky since July 1, representing a growth opportunity for our lead pharma product."
For the full CEO Comments please view the PDF
For further information, please contact
Nikolaj Sørensen, President and CEO, Joseph DeFeo, 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
At 3.00 pm CET, the same day as the announcement of the report, Orexo invites analysts, investors and media to attend a presentation where Nikolaj Sørensen, CEO and Joseph DeFeo, CFO, will present the report and host a Q&A.
Questions can also be sent in advance to ir@orexo.com, no later than 11.00 am CET.
Please view the instructions below on how to participate.
Internet: https://tv.streamfabriken.com/orexo-q2-2021
Telephone: SE + 46 8 50 55 83 50 UK + 44 33 33 00 92 70 US + 1 64 67 22 49 04
The presentation material will be available on Orexo´s website prior to the audiocast, view Investors/Reports, presentations and audicasts
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 8.00 am CET on July 15, 2021.
CONTACT:
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https://news.cision.com/orexo/r/orexo-q2-2021-interim-report,c3385238
The following files are available for download:
Orexo Interim Report Q2 2021 published July 15 |
View original content:https://www.prnewswire.com/news-releases/orexo-q2-2021-interim-report-301334419.html
SOURCE Orexo
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