Orexo Ab Stock Price, News & Analysis

Orexo AB (OTCQX: ORXOY) has partnered with Trinity Health to enhance patient access to its digital therapeutics, vorvida® and deprexis®. The collaboration establishes a collaborative care model, educating over 50 healthcare professionals to integrate these therapies, which aim to assist patients dealing with depression and excessive drinking. Trinity Health serves over 200,000 people across North Dakota and Eastern Montana, addressing significant mental health and substance use issues in these regions. This partnership marks a significant step in expanding access to evidence-based psychosocial support.

Orexo AB (publ.) announced on September 1, 2022, that the European Patent Office has granted a patent for OX640, its nasal adrenaline rescue medication. The patent (EP 3 962 455 B1) protects OX640 in Europe until May 2041, supporting Orexo's position in ongoing discussions with potential partners. CEO Nikolaj Sørensen emphasized the product’s innovation and market potential, alongside strong clinical data expected later this year. Orexo aims to enhance its patent portfolio for OX640 across various territories.

Orexo AB (OTCQX: ORXOY) announced its participation in the Pareto Securities' 13th Annual Healthcare Conference on September 7-8, 2022, in Stockholm, Sweden. CEO Nikolaj Sørensen will present on September 7 at 2:30 pm CET, and he, along with new CFO Fredrik Järrsten, will be available for meetings. Orexo develops pharmaceuticals and digital therapies aimed at addressing substance use disorders, with its lead product ZUBSOLV® for opioid use disorder. The company reported total net sales of SEK 565 million in 2021.

Orexo's Q2 2022 report highlights significant financial improvement with total net revenues reaching SEK 147.8 million, up from SEK 142.8 million last year. The US Pharma segment, particularly ZUBSOLV®, generated net revenues of SEK 139.6 million. Despite net losses of SEK 35.8 million, earnings per share improved to -1.04 from -2.15. Cash flow from operations increased positively to SEK 14.5 million.

Orexo has secured a Veterans Affairs Federal Supply Schedule contract for its digital therapy deprexis®, effective late July 2022. This long-term contract expands access to nearly 15 million US citizens in federal healthcare systems, including the Veterans Affairs, Indian Health Service, and Department of Defense. Initial commercialization efforts are anticipated to begin late Q4 2022, with expanded usage expected throughout 2023. The contract will last until 2032.

Orexo AB (OTCQX: ORXOY) has initiated the first human clinical study (OX640-001) for OX640, a nasal adrenaline rescue medication aimed at improving emergency treatment for allergic reactions. The global market for adrenaline products exceeds USD 2 billion and is expected to grow. OX640 aims to offer enhanced stability and convenience over traditional intramuscular injectors, potentially making it a preferred option for patients. The company is exploring partnerships for development and commercialization, with study costs included in their 2022 OPEX guidance.

Orexo reported a strong start to 2022 with total net revenues of SEK 159.4 million, up from SEK 132.3 million in Q1 2021. The EBITDA turned positive at SEK 2.8 million, a significant improvement from -SEK 23.9 million last year. However, net earnings were SEK -23.6 million, an improvement over -SEK 31.5 million in Q1 2021. ZUBSOLV® generated SEK 139.1 million in US revenues. Operating cash flow was negative at SEK -61.6 million, and cash reserves decreased to SEK 437.8 million.

On April 27, 2022, Orexo AB (OTCQX: ORXOY) announced that its partner Gesynta Pharma received Orphan Drug Designation from the FDA for OX-MPI (GS-248), targeting systemic sclerosis, a rare autoimmune disease. This designation provides up to seven years of market exclusivity and financial advantages for drug development. OX-MPI (GS-248) is currently undergoing a Phase 2 clinical trial, with results expected later in 2022. Orexo is entitled to a tiered share of future revenues from the drug, enhancing its revenue potential.

The annual general meeting of Orexo AB on April 21, 2022, confirmed eight board members, re-elected James Noble as chairman, and Ernst & Young as auditor. Total board fees are SEK 3,550,000, with additional fees for independent members. Guidelines for management remuneration were approved, and there will be no dividend for 2021. The meeting authorized new share issues and share repurchases, aimed at enhancing capital efficiency. Two long-term incentive programs for employees were established, mirroring previous years' structures.