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Orexo (ORX) investor relations material
Orexo Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Completed divestment of all US rights to Zubsolv to Dexcel Pharma for USD 91 million plus inventory, with potential earn-out up to USD 16.8 million based on 2026-2027 sales, and transition support agreements in place.
Strategic focus shifts to the AmorphOX technology platform and pipeline development, with investment in proprietary and partnered projects.
Transition phase with Dexcel includes support services, organizational adjustments, and gradual resource reduction through 2026.
R&D pipeline prioritized, with key projects OX640, OX124, OX390, and Izipry advancing toward clinical milestones and regulatory filings.
Adjusted 2025 financial objectives met, achieving positive EBITDA when excluding the Zubsolv transaction.
Financial highlights
Net proceeds from the Zubsolv sale totaled SEK 813.6 million after transaction costs, boosting year-end cash to SEK 912.4 million and restoring shareholder equity to SEK 491 million.
Discontinued operations contributed SEK 840 million to net earnings, mainly from the Zubsolv sale, with a profit on sale of SEK 769 million.
EBITDA for continued operations was negative SEK 70 million for the quarter; full-year EBITDA positive at SEK 3.2 million.
Continued operations Q4 net revenues were SEK 3.3 million, with EBIT of SEK -103.2 million.
Cash and cash equivalents at year-end: SEK 912.4 million, up from SEK 123.3 million.
Outlook and guidance
2025 outlook metrics (excluding Zubsolv transaction effects) were met: Zubsolv net sales USD 50.8 million, OPEX SEK 467.6 million, and positive EBITDA of SEK 3.2 million.
2026 priorities: advance AmorphOX platform, initiate pivotal OX640 trial, analyze OX390 in-vivo data, resubmit Izipry to FDA, and expand peptide/vaccine programs.
R&D expenses for 2026 will depend on clinical trial timing; guidance to be refined as plans solidify.
Runway of at least two years expected, with potential extension through partnerships or accelerated development.
Focus on securing new partnerships and cost coverage for ongoing and future projects.
- TimeTickerHeadlineOpen
- 5 FebNESTE
EBITDA and cash flow surged in 2025, driven by operational gains and renewables growth. - 5 FebLSPD
Revenue and gross profit rose, margins improved, and guidance was raised for fiscal 2026. - 5 FebTPR
Record revenue, margin expansion, and raised outlook, led by Coach's 25% sales growth. - 5 FebCARR
2026 outlook projects stable sales and profit, led by commercial, data center, and aftermarket growth. - 5 FebVRLLOG
Stable profit, ₹5 interim dividend, and 1:1 bonus share issue approved. - 5 FebGLAD
Net investment income was $11.3M as portfolio value and credit capacity expanded. - 5 FebALCO
Land sales and leasing drove improved profitability and strong cash flow amid citrus exit. - 5 FebHDD
Net sales up 6.1% and EBITDA margin improved; FY2025/26 guidance reaffirmed amid headwinds. - 5 FebSLQT
Revenue up 12% to $537.1M, net income $69.3M, and new $415M credit facility boosts flexibility. - 5 Feb2371
Revenue up 21.5% YoY, profit down on higher investments; growth focus continues.
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