Formycon AG : H1 2024 results in line with our forecasts
>Results in line - Formycon reported H1 revenues down 39% at € 26.9% (ODDO BHF € 29m), penalised by an unfavourable base effect related, among others, to the booking of a milestone payment (€ 10m) from Fresnius Krabi in 2023). The revenues from the commercialisation of FYB201 (Cimerli) was up at € 3.8m (vs € 1.2m in H1 2023). Regarding P&L, the R&D spending increased by 87% at € 9.7m due to the ramp-up in spending for the development of the FYB208 and FYB209 asse...Formycon AG is a Germany-based company engaged in providing biosimilar drugs and formulations. Its business activities are focused on the development and marketing of biopharmaceuticals that are similar to existing drugs, for which the patent protection is expiring. The Company focuses on treatments in the area of ophthalmology, immunology and other chronic diseases, covering all steps of biosimilar development process, from early-stage analysis of the originator drug to the preclinical and clinical testing phases, as well as the preparation of dossiers for marketing approval. Its biosimilar product pipeline consists of four candidates in pre-clinical and clinical testing phases, including FYB201, a biosimilar candidate for Lucentis; FYB202, a biosimilar candidate for Stelara; FYB203, a biosimilar candidate for Eylea, and FYB205.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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