Basilea exceeds 2021 financial guidance on preliminary revenue and year-end cash-position
- Total revenue of CHF 148 million exceeding 2021 financial guidance, driven by 65% increase in non-deferred revenue contributions from Cresemba and Zevtera
- CHF 150 million year-end cash and financial investments above 2021 financial guidance
Ad hoc announcement pursuant to Art. 53 LR
Basel, January 10, 2022
Basilea Pharmaceutica Ltd. (SIX: BSLN), a commercial-stage biopharmaceutical company committed to meeting the needs of patients with infectious diseases and cancer, announced today the unaudited preliminary revenue and year-end cash-position for the financial year 2021. Total revenue, non-deferred revenue contributions from Cresemba® (isavuconazole) and Zevtera® (ceftobiprole) and year-end cash and financial investments are all above guidance.
Non-deferred revenue contributions from Basilea’s marketed products, the antifungal Cresemba and the antibiotic Zevtera, are expected to have increased by 65% to approximately CHF 129 million (FY 2020: CHF 78.2 million). Total revenue, including revenue contributions from Cresemba and Zevtera as well as BARDA reimbursements, offsetting ceftobiprole phase 3 development expenses and other revenue contributions, is expected to amount to approximately CHF 148 million (FY 2020: CHF 127.6 million). Basilea also reported preliminary CHF 150 million cash and financial investments at year-end 2021 or CHF 173 million, excluding the impact from the reduction of outstanding convertible bonds.
At half-year reporting 2021, Basilea had guided for non-deferred revenue contributions from Cresemba and Zevtera of CHF 115 – 125 million, total revenue of CHF 134 – 144 million and a year-end cash position of CHF 142 – 147 million (CHF 165 – 170 million, excluding the impact from the reduction of convertible bonds in FY 2021).
David Veitch, Chief Executive Officer, commented: “We are very pleased with the significantly increased non-deferred revenue contributions from Cresemba and Zevtera, which are reflecting the continued progress that we, together with our partners, are making in the commercialization of our brands. Global in-market sales of Cresemba have exceeded 300 million US dollars in the 12 months to the end of September 2021. The continued commercial success of Cresemba, as well as the progress made in making Cresemba available in Japan and China have triggered several sales, development and regulatory milestone payments to Basilea throughout 2021.”
Adesh Kaul, Chief Financial Officer, added: “The impressive growth in our Cresemba and Zevtera non-deferred revenue is indicative of the robust global in-market performance of our brands and the continued regulatory progress made by our partners with regard to accessing new markets. We are looking forward to the key milestones for our anti-infectives franchise in 2022, including anticipated regulatory decisions for Cresemba in China and Japan and the results of our phase 3 ERADICATE study with ceftobiprole. Positive outcomes for these key milestones could have a significant positive mid-term impact on our commercial anti-infectives business. Our strong year-end cash position and the reduction of the outstanding convertible bonds provide us with the required financial flexibility to execute on our strategic priorities.”
The audited full financial statements as well as the annual report 2021 will be published on February 15, 2022. The final audited revenue for 2021 and the cash position as of year-end 2021 may differ from the preliminary reported numbers.
Basilea is a commercial-stage biopharmaceutical company founded in 2000 and headquartered in Switzerland. We are committed to discovering, developing and commercializing innovative drugs to meet the needs of patients with cancer and infectious diseases. We have successfully launched two hospital brands, Cresemba for the treatment of invasive fungal infections and Zevtera for the treatment of severe bacterial infections. We are conducting clinical studies with two targeted drug candidates for the treatment of a range of cancers and have several preclinical assets in both cancer and infectious diseases in our portfolio. Basilea is listed on the SIX Swiss Exchange (SIX: BSLN). Please visit basilea.com.
This communication expressly or implicitly contains certain forward-looking statements, such as "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions concerning Basilea Pharmaceutica Ltd. and its business, including with respect to the progress, timing and completion of research, development and clinical studies for product candidates. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd. is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
For further information, please contact:
| Peer Nils Schröder, PhD|
Head of Corporate Communications & Investor Relations
|Phone||+41 61 606 1102|
This ad hoc announcement can be downloaded from www.basilea.com.
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