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Xbrane Biopharma AB ( (SE:XBRANE) ) just unveiled an announcement.
Xbrane Biopharma AB announced a strategic move to sell its biosimilar candidate XB003 and parts of its organization to Alvotech for approximately SEK 275 million. This transaction is expected to strengthen Xbrane’s financial position by reducing annual fixed costs by around SEK 120 million and allowing the company to focus on its core products, Ximluci® and Xdivane™, which are anticipated to generate significant revenue through royalties and profit sharing. The company also reported strong growth for Ximluci® in Europe and is progressing with regulatory processes in the US, while preparing for a clinical trial for Xdivane™.
More about Xbrane Biopharma AB
Xbrane Biopharma AB operates in the biopharmaceutical industry, focusing on the development of high-quality biosimilars. The company is known for its products like Ximluci®, a biosimilar to Lucentis®, and Xdivane™, a biosimilar candidate to Opdivo®. Xbrane’s market focus includes generating royalty income and profit sharing from these biosimilars.
Average Trading Volume: 13,234,074
Current Market Cap: SEK285.1M
See more insights into XBRANE stock on TipRanks’ Stock Analysis page.