Xbrane Biopharma AB (publ) (XBRANE) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

to X-Brain Biopharma's presentation in relation to our financial report first quarter of 2025. My name is Martin. I'm the CEO of X-Brain and I have with me today Jane, our CFO. So we will go through an operational update in relation to the quarter. I'll start with that and then Jane will take over and go through a financial update and then we will open up for questions both via those calling in and also over the chat. So big event during the quarter was our agreement with Alvotek to sell one of our programs XB-003 are by similar candidates to SIMSIA as well as parts of our organization the part which is engaged in laboratory activities as well as the actual development lab which we have established here in Campus Solna close to Karolinska Institute. This was a very important transaction for us. It puts us in a better financial position. We are getting a total proceed of 275 million Swedish crowns and with that we are going to be able to um repay some of our current debt including the outstanding convertible bond of about 150 million swedish crowns as well as certain accounts payables in relation to our manufacturing partner for this specific program xp003 and We are also reducing our fixed cost base as we are reducing our organization. We're going to have approximately 25 employees post this transaction, and we believe we are going to have a fixed cost base of about 40 million Swedish crowns annually. So yeah, very important transaction force and it's going to close end of May. So the transition of the employees is going to be active beginning of June and the proceeds is also going to come to HSpring in the beginning of June. Okay. What this does to us is that we are going to be able to be fully focused on particularly Ximilusi, our Lucentis biosimilar by a similar c...