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Q1 2021 Interim Report Investing in future growth drivers Q1 2021 summary > Total net revenues of SEK 132.3 m ( 175.0 ) > Net earnings of SEK -31.5 m ( 82.6 ) > EBITDA of SEK -23.9 m ( 39.1 ) orexo > US Pharma segment ( ZUBSOLVⓇ US ) net revenues of SEK 126.8 m ( 163.9 ) , EBIT of SEK 66.1 m ( 75.9 ) > Cash flow from operating activities of SEK -47.8 m ( 48.1 ) , cash balance of SEK 725.5 m ( 861.4 ) > A new patent for OX124 , overdose rescue medication , was issued by the US Patent and Trademark Office ( USPTO ) , protecting the technology until 2039 > Issued a new corporate bond amounting to a nominal value of SEK 500 m and redemption of the corporate bond issued in 2017 > > A partnership agreement was reached with Magellan Rx , the third largest payor for treatment of opioid dependence in the US , to test modia ™ with patients and other payors in their network A new patent for ZUBSOLVⓇ , with protection until 2032 , was issued by the USPTO No important events after the period SEK 66 m US Pharma EBIT 52 % US Pharma EBIT margin SEK 726 m Cash and cash equivalents SEK m , unless otherwise stated 2021 Jan - Mar 2020 Jan - Mar 2020 Jan - Dec 2020-2021 Jan - Mar A Net revenues Cost of goods sold 132.3 175.0 663.6 -24 % -19.2 -20.0 -65.6 -4 % Operating expenses -149.9 -121.1 -617.9 24 % EBIT -36.8 34.0 -19.9 -208 % EBIT margin , % -27.8 19.4 -3.0 -47.2 ppt EBITDA -23.9 39.1 19.0 -161 % Earnings per share , before dilution , SEK -0.92 2.38 -2.45 -139 % Earnings per share , after dilution , SEK -0.92 2.34 -2.45 -139 % Cash flow from operating activities -47.8 48.1 16.8 -199 % Cash and cash equivalents 725.5 861.4 505.3 -16 % Unless otherwise stated in this report , all data refers to the Group , and numbers relate to the current quarter while numbers in parentheses relate to the corresponding period in 2020 . OREXO INTERIM REPORT Q1 2021 1