Orexo Q1 2024 Interim Report

UPPSALA, Sweden, May 8, 2024 /PRNewswire/ — 

Starting 2024 with a positive EBITDA

Q1 2024 highlights

  • Total net revenues of SEK 139.3 m (158.8)
  • EBITDA of SEK 15.9 m (-41.1)
  • Net earnings of SEK -8.9 m (-63.9)
  • US Commercial segment net revenues of SEK 129.3 m (140.3), in local currency USD 12.4 m (13.5)
  • Cash flow from operating activities of SEK -18.9 m (-61.6), cash and invested funds of SEK 198.0 m (278.9)
  • Earnings per share before and after dilution amounted to SEK -0.26 (-1.86)
  • MODIA® and Vorvida® were reimbursed within the US Veterans Affairs Federal Supply Schedule as of January 1, 2024
  • Data from the clinical phase 1 study and stability data for OX640, a nasal epinephrine powder product, were presented at the American Academy of Allergy, Asthma & Immuniology Annual Meeting in Washington DC
  • Orexo and Sobi agreed to advance feasibility study where AmorphOX® is tested with one of their biomolecules
  • To refinance the existing bond a four year senior secured social bond of SEK 500 million was issued
  • The new bond was classified as a social bond after a social financing framework was established, which underwent an independent review by Morningstar Sustainalytics.

Important events after the end of the ­period

  • Second patent in the US granted for OX640.


SEK m unless otherwise stated




Net revenues




Cost of goods sold




Operating expenses








EBIT margin

-3.4 %

-37.4 %

-17.1 %





Earnings per share. before dilution. SEK




Earnings per share. after dilution. SEK




Cash flow from operating activities




Cash and invested funds





CEO Comments in brief: Creating a stable financial platform

I am pleased to report a significant improvement in our financial results with an EBITDA increasing SEK 57 million and amounted to SEK 16 million (-41). In addition to less non-repeating activities, it is driven by efficiency improvements and cost control. Improving our financial results was a cornerstone of successfully refinancing our corporate bond in the quarter, and we gained strong interest from investors with close to 100 percent oversubscription. Our R&D projects continue to show progress, although OX124 is likely to require a longer review than the original PDUFA date in July based on recent request for additional documentation. Our ambition remains to launch the product in late 2024 or early 2025.

For the full CEO Comments read the PDF

Contact persons quarterly report
Nikolaj Sørensen, President and CEO, Fredrik Järrsten, EVP and CFO, or Lena Wange,
IR & Communications Director Tel: +46 18 780 88 00, +1 855 982 7658, E-mail: [email protected]


On May. 8, at 1 pm CET analysts, investors and ­media are invited to attend a presentation, incl. a Q&A.

To attend via teleconference where you can ask questions verbally:
When registered you will be provided ­phone ­numbers and a conference ID to access the ­conference. 

To attend via webcast:


Prior to the call, presentation material will be ­available on the website under Investors/ Reports/Audiocasts.

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 am CET on May 8, 2024.

This information was brought to you by Cision http://news.cision.com


The following files are available for download:


Cision View original content:https://www.prnewswire.co.uk/news-releases/orexo-q1-2024-interim-report-302139334.html

Orexo Q1 2024 Interim Report WeeklyReviewer

PR Newswire Science News

World Reviewer Staff
World Reviewer Staffhttps://weeklyreviewer.com/
The first logical thought has to be "no way". I'm the World Observer! Ill find and share important news all day.

Latest articles

Earnings Disclosure

WeeklyReviewer earns primarily through affiliates and ads. We don’t encourage anyone to click on ads for any other purpose but your own. We recommend products and services often for our readers, and through many we will earn commissions through affiliate programs.

Related articles