Basilea Pharmaceutica AG GAAP EPS of CHF 1.26, revenue of CHF 104M; updates FY outlook

* Basilea Pharmaceutica AG press release [https://www.basilea.com/news#news_1564] (OTC:BPMUF [https://seekingalpha.com/symbol/BPMUF]): 1H GAAP EPS of CHF 1.26.
* Revenue of CHF 104M (+36.3% Y/Y).
* Cresemba® and Zevtera®-related revenues rise by 24% to CHF 90.5 million.
* Operating cash flow increases by 29% to CHF 23.1 million
* Full-year 2025 guidance: on track and updated to reflect recent in-licensing of a novel oral phase 3-ready antibiotic

*
Basilea provides the following guidance for the full year (FY) 2025:

* Total revenue is expected to increase by 8% to CHF 225 million

* Basilea can offset the impact of the strengthening of the Swiss Franc and the previously announced decrease in product supply to Pfizer on Cresemba & Zevtera-related revenue.
* The expected 14% increase in royalty income to CHF 110 million reflects primarily the continued strong double-digit sales growth of Cresemba in its key markets.
* Following a year of exceptionally high milestone payments in 2024, milestone and upfront payments in 2025 are expected to remain at the level of prior years of around CHF 32 million, despite being impacted by the strengthening of the Swiss Franc, primarily versus the US Dollar.
* The increase in BARDA and CARB-X reimbursements is reflecting the significant operational progress with fosmanogepix, BAL2062 and BAL2420.

* The increase in cost and operating expenses reflects the expected impact of the recent strategic addition of ceftibuten-ledaborbactam to our late-stage clinical pipeline and our continued investment in progressing our exciting R&D portfolio of first-in-class antifungals and antibacterials. Nevertheless, we expect to maintain a high operating profit level of CHF 50 million in 2025.
* We expect no material cash outflow related to income taxes as a result of the use of tax loss carry forwards, but a 10.7% income tax expense will be reflected in the 2025 net profit, in contrast to a CHF 17.3 million one-time income tax benefit from releasing the deferred tax valuation allowance in 2024.

(in CHF million)
FY 2025enew
FY 2025eprevious
FY 2024

Cresemba and Zevtera-related revenue
~190
~190
194.9

of which royalty income
~110
~110
96.7

Total revenue
~225
~220
208.5

Research & development expenses, net
~105
~88
77.1

Operating result
~50
~62
61.2

MORE ON BASILEA PHARMACEUTICA AG

* Historical earnings data for Basilea Pharmaceutica AG [https://seekingalpha.com/symbol/BPMUF/earnings]
* Financial information for Basilea Pharmaceutica AG [https://seekingalpha.com/symbol/BPMUF/income-statement]