(Información remitida por la empresa firmante)
UPPSALA, Sweden, April 27, 2023 /PRNewswire/ -- Focusing operations on Orexos strengths
Q1 2023 highlights
- Total net revenues of SEK 158.8 m (159.4)
- EBITDA of SEK -41.1 m (2.8), EBITDA excluding legal costs and costs for non-repeating clinical trials, SEK 20.9 m (32.2)
- Net earnings of SEK -63.9 m (-23.6)
- US Pharma segment (ZUBSOLV US) net revenues of SEK 140.3 m (139.1), in local currency USD 13.5 m (14.8), US Pharma EBIT of SEK 74.3 m (84.0)
- Cash flow from operating activities of SEK -61.6 m (-61.6), cash and invested funds of SEK 278.9 m (437.8)
- Earnings per share before and after dilution amounted to -1.86 (-0.69)
- Exploratory feasibility studies of amorphOX initiated in collaboration with two international biopharmaceutical and vaccine companies
- New Drug Application (NDA) submitted with the FDA for OX124, high-dose rescue medication for opioid overdose
Important events after the end of the period
- 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
Comments by the CEO, Nikolaj Srensen
Navigating troubled waters
"As expected, the first quarter has been intensive for Orexo with submission of the of OX124 file to the FDA, completion of the District Court Hearing in the patent litigation and integration of the DTx team into the US Pharma organization. ZUBSOLV sales in SEK was in line with last year, supported by currency tailwinds, and ZUBSOLV US sales have stabilized comparing to Q4 in USD. As expected, EBITDA compared to last year is lower explained by the increase in non-repeating expenses. These expenses will decline in the next quarters as we approach the critical milestones for the company with the decision in the District Court and the completion of the MODIA clinical trial. Removing these non-repeating expenses from the P&L, EBITDA would have been positive in the quarter. I am disappointed with the news right after the quarter ended, that we had issues with the packaging line for OX124 and need to make a new submission to FDA later this year. If the final tests at our contract manufacturing partner are successful, we are expecting to resubmit the OX124 file with the FDA in Q3."
For full CEO comments view the attached PDF
For further information, please contactNikolaj Srensen, President and CEO, Fredrik Jrrsten, EVP and CFO, or Lena Wange, IR & Communications Director Tel: +46 18 780 88 00, +1 855 982 7658, E-mail: ir@orexo.com.
PresentationAt 2 pm CET the same day as the announcement of the report Orexo invites analysts, investors and media to attend a presentation where Nikolaj Srensen, CEO and Fredrik Jrrsten, CFO, will present the report and host a Q&A. To attend via teleconference where you can ask questions verbally use this link: https://conference.financialhearings.com/teleconference/?id=200679When registered you will be provided phone numbers and a conference ID to access the conference.
To attend via webcast:https://ir.financialhearings.com/orexo-q1-2023
Prior to the call presentation material will be available on Orexos 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 April 27, 2023.
The following files are available for download:
View original content:https://www.prnewswire.co.uk/news-releases/orexo-interim-report-q1-2023-301809303.html