BRAIN Biotech AG Maintains Strong Cash Position Amidst Challenging FY 2023/24

BRAIN Biotech AG ends the fiscal year 2023/24 with €27.2 million in cash, marking an improved financial stance. This achievement stems from two key transactions with Royalty Pharma and Akribion Therapeutics, potentially generating up to €128.88 million and €92.3 million in revenue, respectively. Despite flat revenue growth at €54.6 million, the company remains confident about future growth prospects. CEO Adriaan Moelker emphasizes the strategic developments within the company's BioIncubator pipeline.

Adjusted EBITDA saw a decrease to €-0.4 million compared to last year's €+0.4 million. Nevertheless, CFO Michael Schneiders highlights effective cost management and forecasts positive EBITDA for 2024/25 despite economic challenges. The BioProducts segment saw revenue slightly dip to €42.6 million due to a slower ramp-up of new infrastructure. Meanwhile, the BioScience segment faced a 13.1% revenue drop, reflecting economic constraints.