Monday, January 7, 2019 @ 1:30 pm
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.