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Xbrane Biopharma AB ( (SE:XBRANE) ) has issued an update.
Xbrane Biopharma AB announced a directed issue of shares worth approximately SEK 200 million to institutional and qualified investors. This move is aimed at financing regulatory processes, paying suppliers, and supporting general corporate purposes. The company recently completed a transaction with Alvotech, selling its biosimilar candidate and parts of its organization, which is expected to reduce annual fixed costs significantly. The directed issue is seen as a strategic decision to strengthen the company’s financial position, diversify its shareholder base, and support the development and commercialization of its biosimilars.
More about Xbrane Biopharma AB
Xbrane Biopharma AB is a company in the biopharmaceutical industry, focusing on the development and commercialization of biosimilars. Their primary products include Ximluci® and Xdivane™, with a market focus on generating royalties and profit sharing from these programs.
YTD Price Performance: 54.38%
Average Trading Volume: 20,245,794
Current Market Cap: SEK379.4M
For detailed information about XBRANE stock, go to TipRanks’ Stock Analysis page.