Santhera Pharmaceuticals Holding Ltd.

Latest Results (10.11.2025):

Santhera Pharmaceuticals Holding Ltd.'s H1 2025 financial report shows significant revenue gains amid expanding global sales, with total revenues increasing by 70% to CHF 24 million compared to H1 2024. The report highlights robust growth in product sales and royalties driven by increased market uptake in key regions, although the operating loss widened to CHF 35.4 million. The company continues to advance its global rollout of AGAMREE® for Duchenne muscular dystrophy, supported by new partnerships and distribution agreements, while maintaining a focus on reaching cash-flow break-even by mid-2026.

Revenue Growth

Total revenue for the six months ended June 30, 2025, surged by 70% to CHF 24 million from CHF 14.1 million in H1 2024, driven by strong sales growth in newly launched markets and increased revenue from royalties and product supplies.

Product Sales and Royalties

Product sales climbed 76% to CHF 11.6 million, led by Germany and Austria with positive contributions from the UK after its Q2 launch. Additionally, royalties from U.S. and Chinese partners grew to CHF 5.4 million, significantly higher than the CHF 0.9 million recorded in H1 2024.

Operating Results

Operating expenses (excluding non-cash compensation) remained in line with guidance, but the operating loss increased to CHF 35.4 million compared to a loss of CHF 17.7 million in the previous period, reflecting higher costs associated with rapid commercial expansion.

Cash Position and Future Outlook

While cash and cash equivalents decreased to CHF 18.4 million as of June 30, 2025, the company’s balance was bolstered by approximately CHF 20 million in growth capital in September 2025. Santhera maintains its guidance for achieving cash-flow break-even by mid-2026 and expects full-year 2025 revenue to exceed the previous guidance of CHF 65-70 million.

Global Expansion and Strategic Developments

Santhera is accelerating its global rollout with new distribution agreements across five GCC countries, India, and Türkiye, alongside successful market uptake in Europe and strong performance from its U.S. and Chinese partners. These strategic initiatives, combined with ongoing developments in clinical studies and regulatory discussions, position the company for continued expansion in the second half of 2025 and beyond.