Q2 2024 Hansa Biopharma AB Earnings Call Transcript
Key Points
- Hansa Biopharma AB (FRA:24H) reported its third consecutive quarter of solid sales, with total revenue of SEK54.2 million, driven primarily by IDEFIRIX sales.
- The company secured its first commercial sales in Italy and achieved reimbursement status in key regions, expanding its market presence.
- The pivotal Phase 3 US trial for kidney transplantation, ConfIdeS, has been fully randomized, marking a significant milestone.
- Hansa Biopharma AB (FRA:24H) is progressing well with its post-authorization efficacy study in Europe, which could further support the adoption of IDEFIRIX.
- The company is advancing several trials in autoimmune diseases, with promising progress in Phase 3 anti-GBM disease and Phase 2 Guillain-Barre syndrome trials.
- The company faced a significant provision of SEK19.9 million associated with cumulative sales since the launch of IDEFIRIX in Europe, impacting revenue.
- SG&A expenses totaled SEK88 million in Q2 2024, including a restructuring reserve of approximately SEK3.5 million.
- R&D expenses for the second quarter of 2024 were SEK92 million, including a restructuring reserve of SEK6.6 million.
- The operating loss for the quarter was SEK187 million, driven by lower SG&A and R&D expenses but offset by higher cost of goods sold.
- The gross margin was negatively impacted by manufacturing costs, with three large batches of drug substance produced in Q2, increasing the cost of goods sold.
Hello, everyone, and welcome to the Hansa Biopharma Q2 2024 conference call. Today's call is being recorded. (Operator Instructions) I'll now hand the call over to CEO, Soren Tulstrup. Please begin.
Thank you, operator. Good afternoon, good morning, and welcome, to the Hansa Biopharma conference call to review the first half and Q2 results for 2024. I'm Soren Tulstrup, President and CEO of Hansa Biopharma. Joining me today is Evan Ballantyne, Chief Financial Officer; Matt Shaulis, Chief Commercial Officer and US President; Hitto Kaufmann, Chief R&D Officer. Please turn to slide 2.
These allow me to draw your attention to the fact that we will be making forward-looking statements during this presentation and you should, therefore apply appropriate caution.
Please turn to slide 3 and an overview of today's agenda. They will discuss the progress we made during the first half of 2024 and review our near term authorities. The presentations should take roughly 15 to 20
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