Orexo Q3 2021 Interim Report

UPPSALA, Sweden, Nov. 3, 2021 /PRNewswire/ --

Q3 2021 highlights

• Total net revenues of SEK 145.9 m (150.3)
• Net earnings of -52.0 SEK  m (-84.9)
• EBITDA of SEK -47.4 m (-20.9)
• US Pharma segment (ZUBSOLV® US) net revenues of SEK 136.4 m (143.8), in local currency USD 15.8 m (16.2), US Pharma EBIT of SEK 78.5 m (72.4)
• Cash flow from operating activities of SEK -79.7 m (-12.9), cash balance of SEK 588.1 m (593.3)
• Earnings per share before dilution amounted to -1.51 (-2.45)
• Commercial partnership agreement signed with Sober Grid, the largest global social media network for people in addiction recovery, giving a large group of users access to VORVIDA® and DEPREXIS®
• Lead pharmaceutical pipeline asset, OX124 - a rescue medication for overdoses, entered pivotal trial
• Commercial agreement for VORVIDA® and DEPREXIS® signed with Benefis Health System, a leading regional health network

Important events after the period

• MODIA™ paper published in the Journal of Medical Internet Research Mental Health
• Updated financial outlook, FY 2021

CEO Comments

Good third quarter for ZUBSOLV® 

"I am pleased to report that the third quarter showed continued stabilization and for the first time since 2019, ZUBSOLV® grew both revenues and profit from the previous quarter. The development of ZUBSOLV® is important to enable the continued investments in establishing our digital therapeutics (DTx) business and advancing our pharma pipeline. Mental health issues have grown significantly during Covid-19, which will inevitably lead to a significant increase in patients needing treatment. However, while demand has sharply increased, healthcare providers have been severely impacted by Covid-19 during 2021, resulting in patients suffering from reduced access to treatment, and healthcare providers' ability to assess and implement new innovative treatment methods like DTx has been limited. Fortunately, as the impact from Covid-19 diminishes, the priority and attention to address the significant rise in mental illnesses is increasing. This has led to improvements in our progress with new healthcare providers to test and implement our digital therapies, such as a new agreement with a leading regional health network, Benefis Health System."  

For full CEO Comments view the PDF.

For further information, please contact
Nikolaj Sørensen, President and CEO, Joseph DeFeo, EVP and CFO, or Lena Wange, IR & Communications Director 
Tel: +46 18 780 88 00, +1 855 982 7658, E-mail: [email protected]

Presentation
At 1.00 pm CET, the same day as the announcement of the report, Orexo invites analysts, investors and media to 
attend a presentation where Nikolaj Sørensen, CEO, Dennis Urbaniak, EVP Digital Therapeutics and Joseph DeFeo, CFO, will present the report and host a Q&A. Questions can also be sent in advance to [email protected], no later than 11.00 am CET. 
Please view the instructions below on how to participate.
Internet: https://tv.streamfabriken.com/orexo-q3-2021
Telephone: SE +46 8 50 55 83 56 UK +44 33 33 00 92 70 US +1 64 67 22 49 56
The presentation material will be available on Orexo´s website prior to the audiocast, view Investors/Reports, presentations and audicasts

This information is information that Orexo AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 8.00 am CET on November 3, 2021. 

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SOURCE Orexo