Orexo AB (SE:ORX)
:ORX
Earnings Data
Report Date
Apr 28, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-0.46Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicates a materially improved financial position driven by the successful sale of ZUBSOLV U.S., resulting in strong cash proceeds (SEK 814 million net) and a net cash position (SEK 429.2 million), while allowing a strategic refocus on the AmorphOX platform and prioritized R&D milestones (OX640 pivotal trial planned Q4, OX390 in‑vivo starting Q1, IZIPRY filing target Q3/2026). However, near-term challenges remain including weak continued-operations revenue (SEK 3.3 million), negative continued-ops EBITDA (SEK -70 million for Q4), impairments (MODIA SEK 22 million), outstanding DOJ investigation risk, bond covenant remediation/possible redemption, restructuring costs in 2026, and reliance on partnerships and BARDA funding to sustain and accelerate development. Overall, the positives from the transaction, cash position, meeting 2025 metrics, and clear strategic direction outweigh the operational and legal headwinds, positioning Orexo to focus on technology-driven R&D growth but with execution and financing risks to monitor.Company Guidance
Successful Sale of ZUBSOLV U.S.
Closed sale of ZUBSOLV U.S. to Dexcel for USD 91 million (approx. SEK 847–855 million). Net proceeds at closing after transaction costs amounted to SEK 814 million. Transaction also includes USD 3.8 million for inventory, a USD 3 million escrow, and an earn-out of up to USD 16.8 million (risk-adjusted estimate booked at USD 8.2 million).
Strengthened Cash Position / Net Cash
Group cash increased to SEK 912 million at year-end and net cash position reported as SEK 429.2 million (shift from prior net debt to net cash). Q4 discontinued operations contributed SEK 830 million cashflow from the ZUBSOLV sale.
ZUBSOLV U.S. Sales Stable to Growing in Local Currency
ZUBSOLV U.S. sales in Q4 were USD 14.6 million versus USD 14.1 million YoY (+~3.6%) and up from USD 12.0 million in the prior quarter (+~21.7%), with higher wholesaler stocking contributing to the quarter-over-quarter increase.
Met 2025 Financial Metrics
Company reports it met all 2025 metrics (excluding ZUBSOLV effects): buprenorphine-naloxone market grew 3% in 2025; ZUBSOLV net sales reached USD 51 million (adjusted to ~USD 62 million when excluding a non-recurring rebate); OpEx (ex-depreciation) came in at the lower part of the guided range at SEK 468 million; full-year EBITDA positive at SEK 3.2 million.
Strategic Refocus on AmorphOX Platform and Pipeline
Management refocused Orexo on core AmorphOX technology and three R&D buckets: exploratory research (e.g., semaglutide GLP‑1 and vaccine work), Orexo proprietary projects (OX640 pivotal trial planned Q4; OX390 first in‑vivo study starting Q1; IZIPRY planned filing Q3/2026), and partnering the technology to third parties.
BARDA and Partner Funding Beginning to Materialize
First invoice to BARDA for the three OX390 projects has been sent; cost coverage from BARDA expected to pick up as development intensifies in 2026, reducing Orexo’s net cash burn on those programs.
Operational Efficiencies and Lower COGS for ZUBSOLV
Despite inflationary pressure, Orexo reported reductions in cost of goods for ZUBSOLV tablets and expects further improvements — a positive for Dexcel and for long-term margin management.
Retention and Smooth Transition of Commercial Staff
All U.S. sales reps and managers accepted offers to join Dexcel, enabling closing and a managed transition; Orexo retained select U.S. and Swedish resources (medical affairs, R&D project management, transition support) and will be reimbursed for transition services up to 18 months.
SE:ORX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SE:ORX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 05, 2026 | kr29.35 | kr27.20 | -7.33% |
Oct 23, 2025 | kr37.50 | kr29.95 | -20.13% |
Jul 16, 2025 | kr20.25 | kr19.00 | -6.17% |
May 06, 2025 | kr14.50 | kr15.00 | +3.45% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Orexo AB (SE:ORX) report earnings?
Orexo AB (SE:ORX) is schdueled to report earning on Apr 28, 2026, Before Open (Confirmed).
What is Orexo AB (SE:ORX) earnings time?
Orexo AB (SE:ORX) earnings time is at Apr 28, 2026, Before Open (Confirmed).
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What is the P/E ratio of Orexo AB stock?
The P/E ratio of Orexo AB is N/A.
What is SE:ORX EPS forecast?
Currently, no data Available