Financial summary fourth quarter 2019

• Revenue amounted to SEK 0.0 M (4.9).
• Write-downs of inventories and production equipment for Spherotide amounted to SEK -16.8 M (-).
• Gross margin amounted to 0 percent (25).
• Other operating income amounted to SEK 2.0 M (1.3).
• EBITDA amounted to SEK-37.1 M (-30.3).
• R&D expenses amounted to SEK -25.6 M (-25.5), corresponding to 67 percent (78) of total operating expenses.
• Loss amounted to SEK 55.9 M (32.4).
• Earnings per share amounted to a SEK-5.00 (-5.12).
• Cash and cash equivalents amounted to SEK 164.2 M (101.0) at the end of the year.

Financial summary full year 2019

• Revenue amounted to SEK 0 M (20.5).
• Write-downs of inventories and production equipment for Spherotide amounted to SEK -16.8 M (-).
• Gross margin amounted to 0 percent (22).
• Other operating income amounted to SEK 6.4 M (99.7).
• EBITDA amounted to SEK -140.5 M (-6.1).
• R&D expenses amounted to SEK-115.7 M (-85.8), corresponding to 78 percent (78) of total operating expenses.
• Loss amounted to SEK 166.0 M (13.2).
• Earnings per share amounted to SEK -14.84 (-2.13).

Significant events during the fourth quarter 2019

• No significant events to report.

Significant events after the end of the quarter

• In February, the milestone of 50 percent of patients in the Xplore study recruited, was achieved.

• To better equip the company for upcoming filing and commercialization of our biosimilars, the management team has been strengthened with Maria Edebrink, Head of Regulatory Affairs and Anders Wallström, Head of Manufacturing and Supply Chain. Both has worked in Xbrane since beginning of 2019. In addition, Xiaoli Hu has been recruited to Head of Business Development and will join the management team as of 1 May 2020. Due to Xbrane’s strategic focus on biosimilars, Paolo Sarmientos, Head of long-term injectables, will no longer be a part of the management team.

• Finchimica S.p.A., parent company of contract manufacturer ICI S.p.A., which Primm Pharma uses for the manufacture of Spherotide, was declared bankrupt in early 2020. Primm Pharma is now taking appropriate action to safeguard its interests in the future production of Spherotide. Related to this, write-downs regarding stock and production equipment for Spherotide amounting to SEK -16.8 M (-) have been made.

• Board member Maris Hartmanis has informed that he declines re-election for 2020.

Xbrane Biopharma AB invites to a teleconference for investors, analysts and media on February 28th, 2020, at 10.00 a.m. CET. See below link to the presentation below:

Web link
https://edge.media-server.com/mmc/p/awbt9ry7