Xbrane Biopharma (XBRANE)

Business description

Xbrane Biopharma is a Swedish developer of biosimilars using a patented, more efficient manufacturing system. The lead product is Xlucane, a Lucentis biosimilar. Xbrane’s first product will be a triptorelin generic, Spherotide, for prostate cancer. First sales will be to Iran in 2017. European approval is possible in 2019.

Stock data

Market cap.SEK194m
Last closeSEK40.80
High / Low (52 weeks)SEK45.5 / SEK30.2
Stock market listingOMX
Forecast net cash (SEKm)16.1
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual2.8(0.2)(1.5)
Relative *3.6(4.5)(15)

* % Relative to local index

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Investment summary

With Italian GMP approval of the Spherotide one-month formulation, Xbrane can ship a SEK7m order to Iran. A Chinese deal worth SEK17m upfront, $8m total, may be signed in H117. European partnering and launches are possible from 2019 after clinical trials. Xbrane (or a partner) may sell Xlucane, its low-cost biosimilar of Lucentis (2015 sales $3.6bn), in the US after 2021 and from 2022 in Europe. A study has been done on pilot scale batches showing high biosimilarity, giving a solid basis for scale up.

Last updated on 01/03/2017

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 01/03/2017

Latest video

Executive Interview - xBrane

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
View website