Orexo Q2 2023 Interim Report
- Orexo reported total net revenues of SEK 157.7m in Q2 2023, a 6.6% increase compared to the same period last year.
- The company's EBITDA for Q2 2023 was SEK 5.6m, compared to -32.5m in Q2 2022.
- Orexo's US Pharma segment achieved net revenues of SEK 145.4m in Q2 2023.
- The company won a patent litigation against Sun Pharmaceutical in the US District Court for the District of New Jersey.
- ZUBSOLV® is now reimbursed by Medicaid in Indiana state as of July 1, 2023.
- None.
UPPSALA,
Q2 2023 highlights
› Total net revenues of
› EBITDA of
› Net earnings of
› US Pharma segment (ZUBSOLV® US) net revenues of
› Cash flow from operating activities of
› Earnings per share before and after dilution amounted to -0.37 (-1.04)
› Due to issues in the outsourced packaging line FDA has requested Orexo to resubmit the NDA, which is planned to take place in Q3, 2023
› US District Court for the District of
› Updated financial outlook, view page 15
Important events after the end of the period
› ZUBSOLV® reimbursed by Medicaid in
SEK m unless | 2023 | 2022 | 2023 | 2022 | % change | 2022 |
Net revenues | 157.7 | 147.8 | 316.8 | 307.3 | 6.6 % | 624.3 |
Cost of goods sold | -17.2 | -21.2 | -46.0 | -48.7 | -19.1 % | -102.6 |
Operating expenses | -153.4 | -176.4 | -343.0 | -321.5 | -13.0 % | -705.6 |
EBIT | -12.9 | -49.7 | -72.3 | -62.9 | -74.0 % | -183.9 |
EBIT margin | -8.2 % | -33.6 % | -22.8 % | -20.5 % | -25.4 % | -29.5 % |
EBITDA | 5.6 | -32.5 | -35.4 | -29.7 | -117.2 % | -115.2 |
Earnings per share. before dilution. SEK | -0.37 | -1.04 | -2.22 | -1.73 | -64.4 % | -5.17 |
Earnings per share. after dilution. SEK | -0.37 | -1.04 | -2.22 | -1.73 | -64.4 % | -5.17 |
Cash flow from operating activities | -12.7 | 14.5 | -70.5 | -47.1 | -187.1 % | -156.6 |
Cash and invested funds | 251.1 | 467.7 | 251.1 | 467.7 | -46.3 % | 351.9 |
Comments by the CEO, Nikolaj Sørensen
Good progress towards profitability
"During the last three years the uncertainty from the patent litigation against Sun Pharmaceutical to protect the innovation and exclusivity of ZUBSOLV®, has had significant negative impact on all areas of the Orexo business. To prevail in the patent litigation is similar to a new beginning for the company, foremost as it removes a lot of uncertainty around our main product. However, our ability to grow is equally dependent on our financial strength and our ability to innovate. I am pleased to report a considerable improvement in our financial result from Q1 2023 with a positive EBITDA of
To read the full CEO Comments, view attached 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
At 3 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 Fredrik Järrsten, CFO, will present the report and host a Q&A.
To attend via teleconference where you can ask questions verbally:
https://conference.financialhearings.com/teleconference/?id=5007950
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-q2-2023
Prior to the call, presentation material will be available on Orexo´s website 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 July 18, 2023.
The following files are available for download:
Orexo Q2 2023 Interim Report published July 18 |
View original content:https://www.prnewswire.com/news-releases/orexo-q2-2023-interim-report-301879362.html
SOURCE Orexo
FAQ
What were Orexo's total net revenues in Q2 2023?
What was Orexo's EBITDA in Q2 2023?
What were the net revenues of Orexo's US Pharma segment in Q2 2023?
What was the outcome of Orexo's patent litigation against Sun Pharmaceutical?
Is ZUBSOLV® reimbursed by Medicaid?
