Orexo Interim Report Q4 2023, incl. Full Year Report

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UPPSALA, Sweden, Feb. 8, 2024 /PRNewswire/ — Positive EBITDA in H2 setting the target for FY 2024

Q4 2023 highlights

Total net revenues of SEK 166.0 m (156.1)
EBITDA of SEK 12.4 m (-53.1), EBITDA excluding costs for legal processes and external non-­repeating ­­clinical trials, SEK 23.4 m (-0.1)
Net earnings of SEK -18.6 m (-91.8)
US Pharma segment (Zubsolv® US) net revenues of SEK 151.3 m (142.6), in local currency USD 14.2 m (13.3), US Pharma EBIT of SEK 75.4 m (77.0)
Cash flow from operating activities of SEK -2.6 m (-48.9), cash and invested funds of SEK 171.0 m (351.9)
Earnings per share before and after dilution amounted to SEK -0.54 (-2.67)
The MODIA® study didn’t meet the ­primary end-points, but showed high rates of treatment ­response in both study arms, with no adverse events associated with the use of MODIA
Robin Evers elected as board member at the Extraordinary General Meeting. He replaces ­Henrik ­Kjaer ­Hansen who has resigned. Kjaer Hansen has instead been appointed ­c­­hairman of the Nomination Committee, representing Novo Holdings A/S.
FDA accepted the New Drug Application filing for review of OX124, a high-dose rescue medication for opioid overdose with naloxone
Financial outlook provided for 2024 on page 15.

Important events after the end of the ­period

MODIA and Vorvida® will be reimbursed within the US Veterans Affairs Federal Supply Schedule as of January 1, 2024.

SEK m  unless otherwise stated

2023
                                    Oct-Dec

2022
                                    Oct-Dec

2023
                                    Jan-Dec

2022
                                    Jan-Dec

Net revenues

166.0

156.1

638.8

Full story available on Benzinga.com