Oncopeptides AB

Latest Results (20.08.2024):

Revenue Growth

Oncopeptides AB reported a significant revenue increase for the second quarter of 2024. The company's net sales amounted to SEK 8.2 million, marking a 60% growth compared to the previous quarter. This growth is attributed to the successful launch and sales of Pepaxti in new markets, including Spain.

Operating Profit

Despite the increase in sales, Oncopeptides AB's operating profit for Q2 2024 was negative. The company reported an operating loss of SEK -73.3 million, compared to SEK -62.4 million in the same period the previous year. This indicates ongoing investments and expenses related to market expansion and R&D activities.

Net Profit

Oncopeptides AB's net profit for the second quarter of 2024 also showed a loss. The net loss amounted to SEK -73.2 million, which is a deeper loss compared to SEK -56.3 million in Q2 2023. The increased loss is reflective of the company's strategic investments in its pipeline and market access efforts.

Cash Position

As of the end of Q2 2024, Oncopeptides AB reported a strong cash position. The company's cash balances stood at SEK 383.3 million, up from SEK 293.8 million at the end of the same period in the previous year. This increase in cash reserves is partly due to a successful rights issue that raised SEK 314 million before deductions for issue costs.

Market Expansion

Oncopeptides AB made significant strides in market expansion during Q2 2024. The company secured national subsidy for Pepaxti in Spain and saw the first sales in the country. Additionally, Oncopeptides increased its market activities in Austria and Germany, and filed a value dossier in France, indicating a robust strategy for European market penetration.