Basilea reports strong, higher than expected preliminary revenue of CHF 133 million for financial year 2018
Basel, Switzerland, January 07, 2019 - Basilea Pharmaceutica Ltd. (SIX: BSLN) announced today the unaudited preliminary revenue for the financial year 2018. Total revenue is expected to increase by 31% over 2017 to approx. CHF 133 million (FYR 2017: CHF 101.5 million), with contributions of approx. CHF 82 million (FYR 2017: CHF 52.5 million, + 56%) from Basilea's two marketed products, the antifungal Cresemba® (isavuconazole) and the antibiotic Zevtera® (ceftobiprole). Basilea had guided for total revenue of CHF 120-130 million and contributions from Cresemba and Zevtera of CHF 75-85 million for the financial year 2018.
David Veitch, Chief Executive Officer of Basilea commented: "We are very pleased with our preliminary revenue of CHF 133 million, which exceeds our guidance. The increase of 56% in the revenue contributions from our two marketed products, Cresemba and Zevtera, confirms in particular the continued strong sales ramp-up of Cresemba, both in established markets and the more recently launched markets. Against the background of the continued high unmet medical need of patients suffering from invasive mold infections and the significant number of upcoming country launches, we are very positive for the future sales prospects of the brand."
He added: "In addition to exceeding our top line revenue target, we have achieved several important strategic milestones in 2018. Amongst others, we have initiated both phase 3 studies for ceftobiprole required to support a potential U.S. registration and have successfully expanded our oncology R&D portfolio through the in-licensing of the panFGFR kinase inhibitor derazantinib, which is currently recruiting patients in the registrational phase 2 study in intrahepatic cholangiocarcinoma. Our solid cash position of approx. CHF 223 million as of December 31, 2018 (preliminary, unaudited) provides us with the financial flexibility to execute on our strategy towards achieving the upcoming key value inflections in our R&D pipeline."
The audited full financial statements as well as the annual report 2018 will be published on February 19, 2019. The final audited revenue for 2018 and the cash position as of year-end 2018 may differ from the reported preliminary numbers.
Basilea Pharmaceutica Ltd. is a commercial stage biopharmaceutical company, focusing on the development of products that address the medical challenges in the therapeutic areas of oncology and anti-infectives. With two commercialized drugs, the company is committed to discovering, developing and commercializing innovative pharmaceutical products to meet the medical needs of patients with serious and life-threatening conditions. Basilea Pharmaceutica Ltd. is headquartered in Basel, Switzerland and listed on the SIX Swiss Exchange (SIX: BSLN). Additional information can be found at Basilea's website www.basilea.com.
This communication expressly or implicitly contains certain forward-looking statements concerning Basilea Pharmaceutica Ltd. and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd. is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
For further information, please contact:
| Peer Nils Schröder, PhD|
Head of Corporate Communications & Investor Relations
+41 61 606 1102
This press release can be downloaded from www.basilea.com.
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