Q2 2026 Xbrane Biopharma AB Earnings Call Transcript
Key Points
- Ximluci, a biosimilar to Lucentis, is launched in 24 European countries and a few in the Middle East, addressing a EUR5 billion market.
- Resumed shipments of Ximluci to STADA, with SEK127 million in profit sharing accumulated.
- Significant cost reduction measures in production are expected to positively impact gross margins from 2027 onwards.
- Resubmission of BLA to the FDA for Ximluci in the US, with a decision date set for October 2026.
- Co-development agreement with JOINN Biologics for Xdarzane, allowing progress without significant investment.
- Current market share for Ximluci in Europe remains at 7%, indicating limited growth.
- Low gross margin of 5% for the quarter due to revised profit sharing and inventory adjustments.
- Ongoing competition from biosimilars to Eylea in Europe and the US could impact market share.
- Uncertainty around upfront payment expectations with commercialization partner Valorum in the US.
- Cash flow challenges persist, with operating cash flow at minus SEK4.8 million for the quarter.
Hello, everybody, and welcome to our webcast in relation to the Q2 report 2026 of Xbrane Biopharma. As usually, I will go through an operational update of the quarter, and then Jane will go through a financial update.
We'll start off with Ximluci, our biosimilar to Lucentis, which is on the market in Europe and commercialized by our commercialization partner, STADA. Those of you who have followed us know the arrangement. We share the profit contribution 50-50 of the sales of Ximluci and it's currently launched across 24 countries in Europe and a few countries in the Middle East.
And a sizable market opportunity we are addressing EUR5 billion steadily growing, although facing somewhat increasing competition in relation to biosimilars to Eylea gradually coming to the market in Europe as well as in the US.
Looking at the current quarter, we are still at a market share around 7% from a volume perspective. And I mean, we're releasing this Q2 report quite early. So we haven't received the final data actually for the quarter
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