Xbrane – Down 20% Today – Why we Bought

Xbrane today announced a termination of partnership with Bausch and Lomb for the US market. The share price went down by more than 25% on the news. The company had today a very positive call that pushed the share price up. CEO confirmed that Xbrane would find a new US partner before the US launch in 1Q24. The terms of the partnership should be better than BL deal, as it was signed in 2020 before Xlucane was comercionalized in Europe. We bought the dip.

Link to the Xbrane presentation

https://ir.financialhearings.com/xbrane-press-conference-2023?seek=1

Main points from the call

• BL terminated the partnership due to their change of priorities
• Comercionalization agreement with BL was signed in 2020 – since than xLucane has made a great progress – new agreement should have a better terms than current BL agreement
• CEO is confident Xbrane will find another strong partner
• FDA Approval expected in April 24 – there is time enough for the partner search
• The Lucentis US market opportunity is over USD 8 billion. Biosimilars are only starting – 1Q23 sales were around USD14 mln only.

Pareto estimates that the xLucane (Ximluci) European business is worth SEK134 – double from the current share price.

We believe today is the opportunity to increase position. We did.

Biovica

We had a call with Biovica management last week. Yesterday we published on this blog our minutes from the call. Today Biovica posted our blog post on their social media platforms. As we wrote yesterday, we believe Biovica is one of the most interesting pharma opportunities in Scandinavia. We recommend to study Biovica:

Our post from yesterday:

Biovica – One of the Most Interesting Scandi Pharma – Notes from the Call with Mgmt

Biovica investment case

https://seekingalpha.com/article/4584325-biovica-fda-approved-breast-cancer-test-can-detect-tumor-progression-60-days-earlier-than-imaging

Vicore Pharma

We are very bullish Vicore Pharma. Below is a link to our last blog post on Vicore:

Vicore Raised 500 mil SEK with Specialist Investors – Stock up 15%

Disclosure:
The goal of the blog is to provide investment ideas for further research. I/we have a beneficial position in the shares discussed above either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. The article does not represent investment advice. Please do your own research before making any investment action.