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Investing.com -- Formycon AG (ETR:FYB) reported first-half revenue of €9.0 million and an EBITDA loss of €17.9 million on Wednesday, while maintaining its full-year 2025 guidance.
The German biosimilar developer continues to expect annual revenues between €55-65 million and an EBITDA loss of €10-20 million. Current market consensus estimates for the year stand at €54 million in revenue and a €19 million EBITDA loss, according to Factset data.
Formycon reiterated its timeline for reaching positive EBITDA, which it expects "as early as 2026, but no later than 2027."
The company’s first-half performance included €1.7 million in revenue from its share in the commercialization of FYB202/Otulfi, its Stelara biosimilar, which has been on the market for approximately four months in both the US and Europe.
Management anticipates significantly stronger performance in the second half of 2025, with results particularly weighted toward the fourth quarter. This expected improvement is driven by two key factors: building momentum in the FYB202 launch later in the year, and the anticipated signing of a partnership deal for FYB206, its Keytruda biosimilar, which would likely include an upfront payment.
The company’s outlook aligns with commentary from Sandoz (SIX:SDZ) regarding its own Stelara biosimilar, Pyzchiva, which also expects stronger performance later in the year.
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