Continued top line growth and positive R&D progress
- rFIXFc advances into registrational trial
July - September
• Total revenues before licensing revenues for the period increased by 10 percent to SEK 274.2 M (250.0).
¬ Q3 sales of Kineret® and Kepivance® in local currency were the highest since Biovitrum acquired the products
• Operating result was SEK -34.1 M (10.4). Profit for the period amounted to SEK 7.9 M (9.8), which is equivalent to earnings per share of SEK 0.16 (0.21).
• Cash flow from operations was SEK -7.4 (-25.5). Cash and cash equivalents and short-term investments as of September 30 amounted to SEK 309.4 M (534.1).
• The last patient in the rFIXFc hemophilia B clinical phase I/II study was recruited.
• Aloxi® was recommended by the Multinational Association for Supportive Care in Cancer and the European Society of Medical Oncology as the preferred 5-HT3 antagonist for emesis prevention in patients undergoing highly emetogenic chemotherapy.
January - September
• Total revenues before licensing revenues increased by 37 percent to SEK 949.3 M (693.8) driven mainly by Kineret® and Kepivance®. Profit for the period amounted to SEK 1.0 M (-88.8), which is equivalent to earnings per share of SEK 0.02 (-1.94).
• Cash flow from operations was SEK -90.5 M (-124.0).
Events after the period
• Biovitrum and Biogen Idec announced decision to advance long-acting hemophilia B therapy (rFIXFc) into a registrational trial based upon the successful outcome of a phase I/II clinical trial.
• An open label exploratory phase II study on ExinaldaTM (rhBSSL) in patients with cystic fibrosis and pancreatic insufficiency was completed. The primary end point was not met (CFA). Biovitrum is currently evaluating next steps.
• A Letter of Intent was signed with Proximagen Neuroscience plc ("Proximagen"), according to which Proximagen will acquire Biovitrum's UK based research unit Cambridge Biotechology Ltd (CBT).
CEO comments: "The third quarter showed both a gratifying sales development for our marketed products and a continued good progress of our prioritized R&D projects. In particular, the sales of Kineret and Kepivance in local currency were the highest since Biovitrum acquired the products. The financial performance for the quarter as well as for the nine month period is yet another step forward becoming a profitable company. I am particularly pleased that we after the period have decided to move the hemophilia B project (rFIXFc) into the final registrational development phase, based on successful outcome of a phase I/II clinical trial. Furthermore the sale of our UK research company is also highly satisfying and in line with the transformation of our business. In order to drive future growth, we continue to strengthen our commercial infrastructure needed for our key products", says CEO Martin Nicklasson.
About Biovitrum
Biovitrum is an international pharmaceutical company that markets specialist pharmaceuticals in several regions. Using its expertise and experience Biovitrum takes scientific innovation to patients with significant unmet medical need. Research expertise and capabilities are focused on development and production of biotechnology therapeutics within our prioritized areas of hemophilia, inflammation/autoimmune diseases, cancer supportive care and malabsorption. The company has revenues of approximately SEK 1.2 billion and around 400 employees. The company head office is located in Sweden and it is listed on the Stockholm OMX Nordic Exchange. For more information please visit www.biovitrum.com
July - September
• Total revenues before licensing revenues for the period increased by 10 percent to SEK 274.2 M (250.0).
¬ Q3 sales of Kineret® and Kepivance® in local currency were the highest since Biovitrum acquired the products
• Operating result was SEK -34.1 M (10.4). Profit for the period amounted to SEK 7.9 M (9.8), which is equivalent to earnings per share of SEK 0.16 (0.21).
• Cash flow from operations was SEK -7.4 (-25.5). Cash and cash equivalents and short-term investments as of September 30 amounted to SEK 309.4 M (534.1).
• The last patient in the rFIXFc hemophilia B clinical phase I/II study was recruited.
• Aloxi® was recommended by the Multinational Association for Supportive Care in Cancer and the European Society of Medical Oncology as the preferred 5-HT3 antagonist for emesis prevention in patients undergoing highly emetogenic chemotherapy.
January - September
• Total revenues before licensing revenues increased by 37 percent to SEK 949.3 M (693.8) driven mainly by Kineret® and Kepivance®. Profit for the period amounted to SEK 1.0 M (-88.8), which is equivalent to earnings per share of SEK 0.02 (-1.94).
• Cash flow from operations was SEK -90.5 M (-124.0).
Events after the period
• Biovitrum and Biogen Idec announced decision to advance long-acting hemophilia B therapy (rFIXFc) into a registrational trial based upon the successful outcome of a phase I/II clinical trial.
• An open label exploratory phase II study on ExinaldaTM (rhBSSL) in patients with cystic fibrosis and pancreatic insufficiency was completed. The primary end point was not met (CFA). Biovitrum is currently evaluating next steps.
• A Letter of Intent was signed with Proximagen Neuroscience plc ("Proximagen"), according to which Proximagen will acquire Biovitrum's UK based research unit Cambridge Biotechology Ltd (CBT).
CEO comments: "The third quarter showed both a gratifying sales development for our marketed products and a continued good progress of our prioritized R&D projects. In particular, the sales of Kineret and Kepivance in local currency were the highest since Biovitrum acquired the products. The financial performance for the quarter as well as for the nine month period is yet another step forward becoming a profitable company. I am particularly pleased that we after the period have decided to move the hemophilia B project (rFIXFc) into the final registrational development phase, based on successful outcome of a phase I/II clinical trial. Furthermore the sale of our UK research company is also highly satisfying and in line with the transformation of our business. In order to drive future growth, we continue to strengthen our commercial infrastructure needed for our key products", says CEO Martin Nicklasson.
About Biovitrum
Biovitrum is an international pharmaceutical company that markets specialist pharmaceuticals in several regions. Using its expertise and experience Biovitrum takes scientific innovation to patients with significant unmet medical need. Research expertise and capabilities are focused on development and production of biotechnology therapeutics within our prioritized areas of hemophilia, inflammation/autoimmune diseases, cancer supportive care and malabsorption. The company has revenues of approximately SEK 1.2 billion and around 400 employees. The company head office is located in Sweden and it is listed on the Stockholm OMX Nordic Exchange. For more information please visit www.biovitrum.com
