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Hansa Biopharma Reports Fourth Quarter and Full Year 2024 Financial Results

Hansa Biopharma AB, known for its innovative solutions in the biopharmaceutical field, has shared its impressive financial performance for the fourth quarter and the entire year of 2024. Under the leadership of President and CEO Søren Tulstrup, the company has seen remarkable growth driven primarily by the sales of their flagship product, IDEFIRIX.

Continued Success of IDEFIRIX

In 2024, IDEFIRIX product sales exhibited a stunning increase of 83%, achieving a total of 189.7 MSEK, up from 103.7 MSEK the previous year. Notably, this growth occurs in a challenging healthcare landscape influenced by the European kidney allocation systems. In the fourth quarter, sales reached 25.6 MSEK—an impressive figure albeit variable due to factors affecting organ availability.

Tulstrup highlighted: "Despite the fluctuations in quarterly sales, our strategic focus on enhancing the clinical application of IDEFIRIX has gained momentum within the medical community."

The total revenue for 2024 was 220.9 MSEK, factoring in a provision for retroactive price adjustments linked to successful early access programs. When excluding this provision, revenue reached 171.3 MSEK, reflecting a 28% increase from 134.1 MSEK in 2023. This upward trend signifies a strong demand for Hansa’s therapies and an expanding market share.

Milestones in Clinical Trials

Hansa Biopharma has also made significant strides in its clinical trials. The company reported positive outcomes from a Phase 2 study involving imlifidase for the treatment of Guillain-Barré Syndrome (GBS). Results revealed that 37% of patients achieved independent mobility within one week of treatment. Such rapid improvements are vital in demonstrating the effectiveness of its therapies compared to existing treatments.

In addition, the ongoing GOOD-IDES-02 Phase 3 study targeting anti-GBM pathology has reached completion of patient enrollment, with data expected in the latter half of 2025. Another important milestone is the commencement of a Phase 2 trial assessing the use of imlifidase in patients with Crigler-Najjar syndrome.

Financial Overview

Despite the successes, Hansa experienced operational losses, reporting a loss of 276.4 MSEK for the quarter and 806.7 MSEK for the year. Notably, net cash used in operations was 206.8 MSEK, reflecting a continued investment in research and development.

Hansa has plans for upcoming regulatory meetings in the first half of 2025 to explore pathways for further drug developments, especially targeting neuro-autoimmune disorders.

Looking Ahead

As Hansa Biopharma prepares for an upcoming conference call to discuss these results and future prospects, the company's anticipated achievements in 2025, particularly surrounding IDEFIRIX and its pipeline of therapies, signal a bright outlook. Investors and stakeholders remain optimistic about Hansa's innovative approach to chronic disease treatment and patient care advancement.

Hansa Biopharma remains committed to refining and delivering groundbreaking solutions for rare immunological conditions, and as it navigates the complexities of drug development and market engagement, the company is poised for continued growth in the biopharmaceutical landscape.

For detailed insights and financial numbers, interested parties are encouraged to attend the live presentation on February 6, 2025, where further discussions on the executed strategies and future projections will be elaborated upon.