Orexo AB (ORX) Q2 2026 Earnings Call

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WEBVTT 00:00:00.071 -- 00:00:03.052 Your line is muted. 00:00:22.008 -- 00:00:27.712 Good afternoon, everyone, and welcome to this second quarter interim report presentation 00:00:27.712 -- 00:00:32.815 from me, Niklas Arntzen, the CEO of Orexo and Fredrik Jastén, who is the CFO of 00:00:32.815 -- 00:00:37.779 the company. So those of you who have been following the day, you understand that this 00:00:37.779 -- 00:00:42.942 quarter, the second quarter of this year, we have continued to clean 00:00:42.942 -- 00:00:45.378 up the company and 00:00:45.378 -- 00:00:50.281 going through the transformation after the sale of Subsov in the end of last year. 00:00:50.281 -- 00:00:56.063 This has had some impact both in terms of operational expenses, where we have 00:00:56.724 -- 00:01:01.947 resolved disputes and discussions with suppliers, so we're taking a one-time 00:01:01.947 -- 00:01:05.949 cost on some of these contracts to exit some of those contracts. 00:01:05.949 -- 00:01:08.931 We have also continued to 00:01:08.931 -- 00:01:14.881 phase out employees from the US and also reduced the staff in Sweden during the quarter. 00:01:14.881 -- 00:01:20.123 So all in all, we have in this quarter, we have an inflated both cash flow position and 00:01:20.123 -- 00:01:23.344 OPEX position, which is driven by this 00:01:23.344 -- 00:01:26.785 transformation that we're going through. But we feel it's important right now for the 00:01:26.785 -- 00:01:31.867 company to come through with a clean slate and be as transparent as possible 00:01:31.867 -- 00:01:35.848 of where we stand at the moment. 00:01:37.762 -- 00:01:43.726 So where are we right now? I think in parallel with working through all of these different 00:01:43.726 -- 00:01:48.769 operational items to prepare the company fo...