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BIOPHARMA Science for high quality biosimilars Interim report January - March 2021 " During the first quarter of the year , a new Biotech lab was established which enables a faster and broader supply of clinical development programs in the future . Xbrane will have the capacity to initiate a new development program every year . " Financial summary first quarter 2021 • Revenue amounted to SEK 0.0m ( 0.0 ) . Other operating income amounted to SEK 4.1m ( 4.9 ) . • EBITDA was SEK -49.0m ( -50.0 * ) . • R & D expenses amounted to SEK 46.0m ( -47.5 * ) representing 83 % ( 84 * ) of total operating expenses . • The loss for the period was SEK 51.3m ( -51.8 * ) . • Earnings per share amounted to SEK -2.31 ( -3.36 * ) . • Cash and cash equivalents at the end of the period amounted to SEK 239.2m ( 84.5 ) . Significant events during the first quarter 2021 • In early January 2021 , Xbrane renegotiated an existing intellectual property license agreement with Vaxiion Therapeutics . • Xbrane signed a non - binding letter of intent with New FaDem in February 2021 , regarding the divestment of the subsidiary Primm Pharma . • Anette Lindqvist took over as Chief Financial Officer & Head of Investor Relations in early January 2021 and Erik Domines took over as General Counsel in March 2021 . • Xbrane established a new development laboratory for biosimilars at Campus Solna outside Stockholm in March 2021 . Detailed information about the above events can be found on page 6 . Significant events after the end of the quarter • There have been no significant events after the end of the quarter . Financial summary for the Group Revenue ( SEK 000 ) Research and development expenses ( SEK 000 ) R & D expenses as percentage of total costs Operating profit / loss ( SEK 000 ) EBITDA ( SEK 000 ) Profit / loss for the period ( SEK 000 ) Cash and cash equivalents ( SEK 000 ) Equity ratio ( % ) Number of shares at the end of period Number of shares at the end of period after dilution Average number of shares Average number of shares after dilution Earnings per share before dilution ( SEK ) Earnings per share after dilution ( SEK ) Number of employees on balance sheet date 2021 Q1 This report is a translation of the Swedish version . When in doubt , the Swedish version should prevail . 1 ) Novartis Annual Report 2020 ( Lucentis® and Beovu® ) 2 ) Roche Annual Report 2020 ( Lucentis ) 3 ) Regeneron Annual Report 2020 ( Eylea® ) * ) This period has been recalculated due to restatement , see Appendix 1 for the effects -46,020 83 -51,410 -48,993 -51,267 239,244 44 22,200,415 22,200,415 22,200,415 22,200,415 -2.31 -2.31 45 2020 Q1 -47,543 * 84 * -51,628 * -49,976 * -51,833 * 84,470 36 * 15,415,199 15,415,199 15,415,199 15,415,199 -3.36 * -3.36 * 38 This information is information that Xbrane Biopharma AB is obliged to make public pursuant to the EU Market Abuse Regulation . The information was submitted for publication , through the CEO , for publication on 05-06-2021 , 08:00 CEST . 2021 Full year -203,301 83 -225,257 -218,691 -226,026 243,139 56 About the operations Xbrane Biopharma AB develops high - quality biological drugs based on a patented platform technology that provides significantly lower production costs compared to competing systems . Xbrane's leading product candidate Xlucane ™ is a biosimilar to the original drug Lucentis® . The market for ophthalmic VEGFa - inhibitors amounts to around SEK 106bn¹ , 2,3 . Xlucane ™ is in phase III and an application for marketing authorization is expected to be submitted in the latter part 2021 . Xbrane has a further 3 biosimilars in the pipeline where sales of the original products are estimated at around SEK 100bn . 22,200,415 22,200,415 18,113,313 18,113,313 -12.48 -12.48 42