Basilea: Increased cash-generating revenue, flat operating expenses and reduced net loss for half-year 2019

Basilea Pharmaceutica Ltd. (SIX: BSLN) announced today its financial results for the first six months of its financial year 2019, ended June 30, 2019.

David Veitch, Chief Executive Officer, said: “We have made significant progress both from the operational and financial perspective in the first half of 2019. We are generating increasing cash flow from our two marketed drugs Cresemba and Zevtera. In particular, the sales of the antifungal Cresemba continue to grow impressively, not only in existing markets, but also from a growing number of recently launched countries. At the same time, we have been successful in maintaining our overall expense base at a flat level in spite of the continued selective investment in our R&D portfolio. Key R&D highlights in the first half of 2019 included the expansion of the clinical program for our lead oncology drug candidate derazantinib and the positive topline results reported from the first of the two ceftobiprole phase 3 studies required for a filing in the U.S. We remain focused on increasing our revenues of our two marketed brands and on progressing our development stage assets to the next key value inflection points."