“Sales activities are starting to lay the foundation for future growth and expansion of the business. Sales grew in this Quarter and preparations for launch of new products in the Autumn are progressing.”
– Lars Minor CEO

Quarter 2, December 2022 –February 2023
· Net revenue was 1 501 (302) tkr.
· EBITDA was -4 550 (-3 382) tkr.
· Operating cash flow was -5 849 (-739) tkr.

Interim period, September 2022 – February 2023
· Net revenue was 1 759 (302) tkr.
· EBITDA was -9 992 (-6 935) tkr.
· Operating cash flow was -11 064 (-5 483) tkr.
· Cash position at the end of period was 21 157 (44 194) tkr.
· No of products in the portfolio at end of period were 33.
· Products with marketing authorization at the end of the period were 8.

Significant events during the quarter
· Fampridine Newbury approved by the Swedish Health Authorities.
· Newbury Pharmaceuticals has received orders for international markets covering shipments during 2023 totalling a value of app. 6,2 mkr.
· The annual general meeting of Newbury Pharmaceuticals was held on 11 January 2023. The Board were re-elected with Karl Karlsson as chairman.
· Newbury Pharmaceuticals is strengthening its portfolio with Buspirone tablets.

Significant events after the end of the quarter
· Dimethyl Fumarate Newbury approved by the Swedish Health Authorities.
· Lapatinib Newbury approved by the Swedish Health Authorities

A word from the CEO
We made further progress on all three key value drivers with new products being approved, a new license deal was signed, and sales increased compared to previous year and previous quarter.

Business development:
Business development remains a key priority and we have continued discussions with several partners (new and existing partners) concerning expansion of the pipeline of products. During this quarter, we signed a licence agreement with a new partner for medication for anxiety. In addition to the additional product, we also participated in two important conferences with access to many global partners. DCAT in New York was a great opportunity to build a network of North America based companies and to meet key European business partners. Similarly, EuroPLX in Lisbon was a successful conference with many meetings between Newbury and potential suppliers.

Commercialization:
Sales during this quarter was increasing from previous quarter and compared to last year. The two drivers were shipments of international orders and sales in Scandinavia. The number of products launched in Scandinavia are expected to increase towards second half of 2023 with an expected 7-8 products on the market by the end of 2023. The international sales activities are progressing according to plan.

Regulatory approvals:
We have obtained approval of Fampridine, Dimethyl Fumarate and Lapatinib during the recent months and we expect to continue obtaining new approvals during the next months. However, we do experience delays in having the registrations issued by the authorities and we also have obtained questions for additional documentation which can lead to delays for some products. However, we still expect to have 7-8 products launched by the end of the year.

Strong progress on new regulatory approvals and potential business development opportunities will be valuable contributions to the continued growth of Newbury.

Newbury is well positioned to grasp these opportunities and to translate the activities into launch of additional products in Scandinavia and bolstering the international sales activities.

The report is publised on Newbury Pharmaceuticals website:
https://www.newburypharma.com/investors/financial-information/