Xbrane Biopharma Ab · OMXSTO:XBRANE
Xbrane Biopharma Ab — Q3 2026 Earnings Presentation
23 slides from Xbrane Biopharma Ab's earnings presentation, Oct 30, 2026
Slide 1: Q3 2026 presentation
RANE BIOPHARMA Science for high quality biosimilars Q3 2026 6 presentation YOBRANE <c:
Slide 2: In October 2026 Lucamzi achieved FDA approval
“In October 2026 Lucamzi achieved FDA approval” Martin Amark, CEO October 30" , 2026 y MBRANE SCIENCE FOR HIGH QUALITY BIOSIMILARS
Slide 3: Disclaimer
Disclaimer You must read the following before continuing, The following applies to this document and the information provided in this presentation by Xbrane Biopharma AB (publ) (the "Company’) or any person on behalf of the Company and any ‘other material distributed or statements made in connection
Slide 4: Presenters
Presenters P Martin Amark Jane Benyamin CEO CFO MUBRANE SCIENCE FOR HIGH QUALITY BIOSIMILARS
Slide 5: Xbrane has a derisked late-stage biosimilar portfolio set to generate profitability
Xbrane has a derisked late-stage biosimilar portfolio set to generate profitability Biosimilar Ximluci® (ex-US) Lucamzi (US) Xdivane Xdarzane candidate Reference product Therapeutic area Ophthalmology Oncology Oncology Dec 2028 (US) May 2029 (US) Patent expiry 2022 (EU) 2020 (US) June 2030 (EU) 2031
Slide 6: Xbrane now enters US market worth €9 billion with Lucamzi
Xbrane now enters US market worth €9 billion with Lucamzi US retinal anti VEGF: EUR 9 billion market 2025 Commentary Lucamzi approved by FDA in October 2026, planned launch during 2027 € 9 billion 100% Avastin (off-label) Total US anti-VEGF market for retinal disorders of €9b with approx. 10 m u
Slide 7: Lucamzi US launch planned for 2027
Lucamzi US launch planned for 2027 Xbrane & STADA partner with Valorum US Commercialization Partnership Xbrane and STADA license US commercial rights to Valorum Biologics. Valorum will be responsible for sales, Biosimilar commercialization marketing and commercial efforts in the US after approval.
Slide 8: Ximluci on the market in 24 countries in Europe / MENA since 2023
Ximluci® on the market in 24 countries in Europe / MENA since 2023 Ximluci® launched by STADA in 24 countries Co-Development & Commercialization Partnership with STADA Partnership with STADA signed in 2018. STADA are granted the commercial rights to Ximluci® globally Global generics and biosimilar
Slide 9: Ximluci has generated profit sharing to Xbrane during first 3 years on market
Ximluci® has generated profit sharing to Xbrane of SEK 145 m during first 3 years on market Accumulated profit split to Xbrane from sales via STADA Commentary Ximluci® share of ranibizumab market across launched countries in Europe was 6% by volume in July 2026 Ongoing production cost reduction
Slide 10: Xdivane targets PD1 inhibitor market worth €40b in 2025
Xdivane targets PD1 inhibitor market worth €40b in 2025 Opdivo® expected to generate net-sales of $14b globally in 2028 Landscape & Commentary Opdivo is an immuno-oncology drug (PD1 inhibitor) used in treatment of several cancers including melanoma and lung cancer 15 The total global market for
Slide 11: Xdivane has partnered with Intas/Accord
Xdivane has partnered with Intas/Accord with a 30% market share in oncology injectables in Europe Partnership with Intas Global License & Co-Development Agreement Exclusive agreement with Intas signed in 2024. Intas will finance and oversee clinical and regulatory development activities as well as g
Slide 12: Xdivane - pivotal clinical PK trial fully recruited
Xdivane - pivotal clinical PK trial fully recruited. On track towards day 1 launch in the US (LoE dec 2028) 2024 2025 2026 2027 2028 2029 2030 Commercialization Milestone payment to Xbrane LoE US LoE Europe Pivotal PK trial BLA submission FDA approval fully recruited Application for Q-code Productio
Slide 13: Learnings from Ximluci FDA process incorporated
Learnings from Ximluci FDA process incorporated. Xdivane has high probability of first time FDA approval given GMP status of involved manufacturing sites
Slide 14: Venture Valuation AG estimates Xdivane profit sharing could peak at €140m
Venture Valuation AG estimates Xbrane profit sharing from Xdivane could peak at €140m Base case forecasted profit sharing to Xbrane by Venture Valuation AG Assumptions • • • • • • • • • Source: Venture Valuation AG
Slide 15: Xdarzane - ongoing process development by JOINN
Xdarzane - ongoing process development by JOINN and establishment of commercialization partnership by Xbrane Co-development agreement allows Xbrane to take the next Xdarzane – a USD 14 b opportunity step in development without additional investments Biosimilar candidate to Darzalex used in treatme
Slide 16: Key Take-Aways
Key Take-Aways Ximluci® launched in 24 countries and having generated approx. SEK 50 m per year in profit- sharing for Xbrane since launch. Ongoing initiatives to reduce production cost for long term competitiveness to materialize in 2027 Lucamzi FDA approval October 2026, preparations for launch du
Slide 17: Q3 Interim Report 2026
Q3 Interim Report 2026 Financials ry = MUBRANE SCIENCE FOR HIGH QUALITY BIOSIMILARS January - June 2026 Interim Report 2026.07.17
Slide 18: Net Revenues (Quarter by Quarter)
Net Revenues (Quarter by Quarter) Gross margin Net revenue % SEK m Q2 Q3 Q4 Qt Q2 Q3 4 Qt Q2 Q3 "24 '24 '24 '25 '25 '25 '25 '26 '26 '26 100,0 140% 126% 120% 80,0 100% 100% 80% mmm Product sales 60,0 (incl. Profit share) 60% Outlicensing of product 40,0 40% Sm Contract manufacturing mmm Other 54, Ca
Slide 19: Company Expenses (G&A and R&D) by Quarter
Company Expenses (G&A and R&D inc. capitilized R&D) by Quarter SEK m Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 0,0 66 & a 8,0 6 76 7.0 183 9,4 ha, 7, 95 98 4014, -10,0 -20,0 -30,0 -40,0 > Administration expenses amounted to 5,4 MSEK -50,0 > R&D expenses amounted to 13,4 MSEK, where
Slide 20: Cash flow chart Q3-26
6 Cash flow chart Q3-26 50 39 37 -3 -1 -30 -17 -5
Slide 21: Cash and Cash Equivalents / Operating Cash Flow
Cash and Cash Equivalents Operating Cash Flow
Slide 22: Business Concept
BUSINESS CONCEPT Xbrane develops biosimilars of difficult-to- manufacture and often very expensive original drugs VISION To become a world-leading scientifically-based biosimilar developer of cost-effective drugs for which there is a significant medical need OBJECTIVE To contribute to everybody havi
Slide 23: Q&A
Q&A MUBRANE SCIENCE FOR HIGH QUALITY BIOSIMILARS