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Xbrane Biopharma AB ( (SE:XBRANE) ) just unveiled an update.
Xbrane Biopharma has completed the sale of its biosimilar candidate XB003 and parts of its organization to Alvotech for approximately SEK 275 million. This transaction strengthens Xbrane’s financial position, allowing the company to focus on its remaining programs, particularly Ximluci and Xdivane, and continue its work in biosimilar development to create value for shareholders and patients.
More about Xbrane Biopharma AB
Xbrane Biopharma AB is a company that develops biological drugs using a patented platform technology aimed at reducing production costs. The company has a portfolio of biosimilar candidates targeting significant market potential, with its lead candidate Ximluci® already launched in Europe. Xbrane is headquartered in Solna, Sweden, and is listed on Nasdaq Stockholm.
Average Trading Volume: 19,540,933
Current Market Cap: SEK362.8M
Learn more about XBRANE stock on TipRanks’ Stock Analysis page.