Business & Finance
Xbrane Biopharma swings to loss in Q3 2019
18 November 2019 -

Swedish biopharmaceutical company Xbrane Biopharma AB (Xbrane) (STO:XBRANE) on Friday reported a loss of SEK32.4m, or SEK2.24 per share, for the third quarter of 2019, from July 2019 to September 2019.

This was a decline over profit of SEK 60.1m, or EPS of SEK9.49, in the third quarter of 2019.

Revenues for the quarter amounted to SEK0.0m, a decline over SEK2.4m in previous third quarter.

Also, Xbrane added that it has secured financing for the Xplore study up until top-line data is received from all patients

In addition, a rights issue that began in the second quarter of 2019 was completed and brought in SEK91.1m to the company, before transaction costs.

Xbrane develops and produces biosimilars. It has a patented protein production platform for development of biosimilars.