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Investing.com -- Swedish Orphan Biovitrum AB on Monday reported its third-quarter results ahead of schedule on Monday, posting adjusted EBIT 14% above consensus and raising its full-year guidance.
The Stockholm-based specialty biopharmaceutical company said adjusted EBITA reached SEK 3.67 billion in the quarter, representing a 47.2% margin and outperforming market expectations.
The increase was mainly attributed to lower-than-expected research and development spending and faster progress on organizational changes introduced in the second quarter.
Quarterly revenue came broadly in line with estimates at SEK 7.78 billion, up 13% year over year and 21% at constant exchange rates.
RBC Capital Markets said higher sales of Altuvoct, Doptelet and Gamifant offset weaker performance from Vonjo and a lower-than-expected royalty contribution from Beyfortus.
On a reported basis, the company posted a net loss of SEK 2.90 billion, compared with consensus expectations for a SEK 1.73 billion profit. The loss reflected a SEK 6.61 billion impairment charge related to Vonjo.
Sobi revised its full-year 2025 outlook, projecting revenue growth in the low double digits at constant exchange rates, up from a previous forecast of high single-digit growth.
The company also raised its adjusted EBITA margin guidance to the mid-to-high-30s% range, compared with mid-30s% previously.
According to RBC Capital Markets, the upgraded guidance brings company expectations broadly in line with market consensus, which forecasts full-year revenue of SEK 28.12 billion, representing an 8% year-over-year increase, or 13% at constant exchange rates.
Adjusted EBITA is expected to reach SEK 10.39 billion, corresponding to a 36.9% margin.
RBC maintained its “outperform” rating on Sobi, with a price target of SEK 350.