#Sweden #financial results #Lund #Hansa Biopharma #IDEFIRIX

Hansa Biopharma Reports Strong Growth in 2024

Hansa Biopharma AB, known for its pioneering biopharmaceutical products, has released its financial report for the fourth quarter and full year of 2024. The results detail an impressive performance, particularly with the commercial success of IDEFIRIX®, which has shown significant growth in sales across Europe.

Key Highlights from 2024

Sales Performance

The company reported IDEFIRIX product sales reached 189.7 million SEK for the year, marking an 83% increase from the previous year. Even after accounting for a provision of 49.6 million SEK related to retroactive price adjustments, sales still reflected a notable growth of 35%, culminating in total sales of 171.3 million SEK, up 28% compared to 134.1 million SEK in 2023.

Despite fluctuations in quarterly sales due to the unpredictable European kidney allocation system, the overall momentum for IDEFIRIX indicates a solid position within the clinical community, aimed at increasing utilization of the product to aid patients in need of kidney transplants.

Progress in Drug Development

CEO Søren Tulstrup emphasized the year as one of transformation for Hansa, highlighting key pipeline advancements. The company achieved significant milestones, including:

• - Positive outcomes in a Phase 2 study for imlifidase in Guillain-Barré Syndrome (GBS).
• - Encouraging results from the NICE-01 study on HNSA-5487, demonstrating its redosing potential.
• - Completion of enrollment in the Phase 3 GOOD-IDES-02 study for anti-GBM indications, with data expected in the latter half of 2025.
• - The initiation of a Phase 2 trial for imlifidase in patients with Crigler-Najjar syndrome in collaboration with Genethon.

Financial Overview

In Q4 2024, total revenue amounted to 32.3 million SEK, mostly aligned with expectations yet reflective of the fluctuations impacting organ availability, which can significantly affect product sales. Overall, Hansa Biopharma’s results depict a commitment to delivering innovative treatments and solidifying its standing in the biopharmaceutical market.

Retention of net cash was reported at 405.3 million SEK, ensuring sustained operational support despite the challenges faced in sales and operational costs due to extensive investments in research and development. For the full year, losses from operations totalled 637.4 million SEK, which remains a critical focus going forward.

Future Outlook

Looking ahead, Hansa Biopharma remains focused on advancing its pipeline and preparing for regulatory discussions to establish clinical pathways for the neuro-autoimmune disease landscape. The anticipated data releases in mid-2025 promise to shed further light on the efficacy and safety of their innovations.

Hansa Biopharma will continue to leverage its proprietary IgG-cleaving enzyme technology to address pressing unmet needs in autoimmune conditions and transplantation medicine. The company's ongoing commitment to research, customer engagement, and transparent operations positions it favorably within the industry as it prepares for the challenging yet rewarding road ahead.

In summary, the notable increase in IDEFIRIX sales and significant progress across its drug development pipeline underscore Hansa Biopharma's potential to positively impact patient care in the years to come.