Xbrane Biopharma (XBRANE)

Business description

Xbrane Biopharma is a Swedish developer of generics . The lead product is triptorelin generic, Spherotide, for prostate cancer. Sales are being made in Iran. Xlucane, a Lucentis biosimilar is produced using an efficient manufacturing system.

Stock data

Market cap.SEK409.5m
Last closeSEK68.75
High / Low (52 weeks)SEK100.2 / SEK32.5
Stock market listingOMX
Forecast net cash (SEKm)16.1
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(17.9)56.667.3
Relative *(16.5)47.648.6

* % Relative to local index

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Investment summary

The Iranian regulator approved the Spherotide (generic triptorelin) one-month formulation in July. Sales in 2017 are guided by Xbrane at SEK 20m. The reported H1 loss was SEK 19.5m with a cash outflow before investment and funding of SEK 16.2m. Cash on 30 June was SEK 32.3m. European trials of Spherotide (one month) are planned for 2018. A three month formulation is in preclinical development. Xbrane has indicated that it expects to conclude a European partnering deal in the near term. A Chinese partner is seriously delayed but expected, by management, by Christmas. A partner is being sought for Xlucane with major payments hoped for. Forecasts have been withdrawn pending revision.

Last updated on 02/11/2017

Y/E Dec Revenue (SEKm) EBITDA (SEKm) PBT (SEKm) EPS (fd) (öre) P/E (x) P/CF (x)
2015A 0.4 (10.7) (11.0) (254.4) N/A N/A
2016A 2.5 (26.9) (29.5) (585.5) N/A N/A
2017E 24.0 (13.6) (16.9) (363.1) N/A N/A
2018E 22.1 (92.2) (95.5) (2008.6) N/A N/A

Last updated on 13/10/2017

Latest video

Executive Interview - xBrane

Industry outlook

Triptorelin treats advanced prostate cancer, endometriosis and uterine fibroids. Sales in 2015 for these were $380m. Xbrane is developing Xlucane, a biosimilar of Lucentis (ranibizumab) to treat wet age-related macular degeneration. Xbrane has a production method that claims to lower biosimilar costs by 85%.

Last updated on 02/11/2017

Key management

Professor Saeid Esmaeilzadeh, Chairman
Martin Åmark, CEO
Siavash Bashiri, COO and Head of Biosimilars
Dr Paolo Sarmientos, Head of Controlled Release Generics

Company address

Banvaktsvägen 22
171 48 Solna
Sweden
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