Xbrane Biopharma AB (publ) (XBRANE) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you and welcome all of you who are listening in to our webcast in relation to the fourth quarter report of 2025 for X-Brain Biopharma. As usually, I will go through a brief operational update and Jane will thereafter go through the financials for the quarter and then we will have a Q&A session where you can either ask questions via audio or via the chat. So we're going to start off with talking a little bit about Xim Lucy, our biosimilar to the eye drug Lucentis which we have co-developed together with Stada and Stada is commercializing across Europe and select countries in the Middle East. It's a quite straightforward setup where we are splitting the profit contribution post production cost and sales and marketing expenses 50-50. The product is now launched across 24 countries out of which 20 in Europe and including the five big European countries. It is a significant market opportunity across Europe. We estimate the market size to about 5 billion And then we're talking about BGF inhibitors for retinal disorders. So that includes Lucentis and the Lucentis biosimilars. That's the dark blue chunk ranibizumab, which is the active ingredient on the bottom of this chart. But then also the other inhibitors. BGF inhibitors for retinal disorders present in Europe being ILEA and the biosimilars who now have been starting to be launched on ILEA and then Vabysmo and then also some usage of Avastin off-label. I think what we are seeing is a continued volume growth. We've seen about 7% overall volume growth last couple of years. But now what we're seeing is an increased competition, I think, mainly due to entrance of biosimilars to ILEA. Patent went off in November last year, and we've seen at least three by similar story having been launched and an additional five being a...