Newbury Pharmaceuticals interim report September 2023 – February 2024

Quarter 2, December 2023 – February 2024
· Net revenue was 3 135 (1 501) tkr.
· EBITDA was -4 147 (-4 550) tkr.
· Operating cash flow was -7 977 (-5 849) tkr.

Interim period, September 2023 – February 2024
· Net revenue was 14 320(1 759) tkr.
· EBITDA was -6 881 (-9 992) tkr.
· Operating cash flow was -13 655 (-11 064) tkr.
· Cash position in the end of period was 6 412 (21 157) tkr.
· Licensed products at the end of period were 31 (33).
· Products with distribution rights at the end of the period were 12 (2).
· Products with marketing authorization in the end of the period were 20 (8).
· Products launched in Nordics at end of the period 6 (2).

Significant events during the quarter
· The annual general meeting of Newbury Pharmaceuticals was held on 10 January 2024. The Board was re-elected with Karl Karlsson as chairman.
· Nintedanib Newbury approved by the Swedish Health Authorities.
· Newbury subsidiary based in Switzerland receives international sales order valued at 8,8 mkr.

Significant events after the end of the quarter
· Newbury carries out a directed share issue of approximately 19 mkr at a subscription price on 4 kr per share. After the Share Issue, the number of outstanding shares in Newbury increases by 4 737 500 shares, from 19 521 154 to 24 258 654 shares.
A word from the CEO

Sales in Q2
Sales is solidly growing compared to same period previous year with +108% growth in this quarter and year-to-date growth of 714%. However, as anticipated, the turnover was somewhat lower this quarter compared to previous quarter reflecting the irregular flow of orders and fluctuations in sales. It is nice to witness the commercial progress despite a quarter with modest sales.

For the same reasons, it was a pleasure to announce an order totalling 8,8 MSEK to be despatched by the end of May 2024.

Advancing the portfolio
Compared to previous year, we have enlarged the portfolio to 43 products with either licensed or distribution rights and expect to continue enlarging the portfolio through licenses or distribution rights.

We recently obtained regulatory approval in Sweden for Nintedanib Newbury – a product used for the treatment of idiopathic pulmonary fibrosis. By now we have 20 registered products across Scandinavia and additionally nine products are currently submitted for approval.

The expansion of the Nordic portfolio continues with several launches planned in 2024. At the same time, we see recurring orders from the international sales activities which is a strong foundation for continued growth. We have a good foundation for continued growth and will pursue to broaden the business during the coming months with more launches, more product approvals and potentially new partnerships.

Directed share issue
At the annual meeting in January the board was re-elected with Karl Karlsson as chairman. At the same time, the board where given authorization to decide to issue new shares in the company, in accordance with the board’s proposal.

On March 4th the company announced a successful directed issue raising app. 19 MSEK from a few new investors together with a few existing shareholders.

The directed issue will enable Newbury to continue advance and expand the portfolio of in-licensed products and secures funding for the regulatory fees to authorities relating to new product approvals and the expenses relating to launching of more products.

I welcome new shareholders as well thank existing shareholders for the trust in the continued growth of Newbury Pharmaceuticals. We are pleased with a strengthening of our capital base which will secure the continued focus on executing our growth plans by launching additional products and building a stronger company for the future.

The report is publised on Newbury Pharmaceuticals website:
https://www.newburypharma.com/investors/financial-information/