For the first nine months of the current year, Heidelberg Pharma reports an increase in sales from 6.2 million euros to 7.5 million euros, while total income climbed from 6.7 million euros to 8.3 million euros. At the same time, the operating expenses of the biotech company rose from 12.4 million euros to 20.7 million euros. The increase is primarily based on increased research and development costs, which Heidelberg Pharma puts at 13.5 million euros after 7.2 million euros in the same period of the previous year. The bottom line is that the nine-month loss has more than doubled from EUR 5.6 million to EUR 12.5 million, and per Heidelberg Pharma share it climbed from EUR 0.20 to EUR 0.42.
The forecast for 2020, which was changed in September, is confirmed by the Heidelberg team today. With operating expenses between 26 million euros and 28 million euros, the expenditures will be higher than forecast in March of this year with 20 million euros to 24 million euros. Sales and other income should be between EUR 9 million and EUR 10 million instead of the previously expected EUR 8 million to EUR 10 million. Before interest and taxes, Heidelberg Pharma expects a loss of between EUR 16 million and EUR 19 million in 2020, previously a loss of between EUR 11 million and EUR 15 million was expected.
As a result, the company’s funding requirements in 2020 will be higher than previously forecast. Heidelberg Pharma now calls an amount between 18 million euros and 20 million euros after 11 million euros to 15 million euros previously. Nevertheless, the biotech company believes that it will continue to be financed until mid-2021, with a view to the financing commitment of the main shareholder dievini Hopp BioTech holding GmbH & Co. KG.
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At a glance – chart and news: Heidelberg Pharma AG