Formycon Reports Robust First Half-Year with Significant Milestones

Formycon AG announced solid progress in the first half of 2024, achieving key operational, clinical, and regulatory milestones. Revenues and EBITDA aligned with expectations, bolstered by strong FYB201 results, which exceeded projections, prompting an upgrade in the adjusted EBITDA guidance.

Noteworthy achievements include the accelerated European approval for FYB202 and positive regulatory outcomes for FYB203 in the USA. FYB201 maintained strong market positions in the USA and UK, while FYB206 entered clinical development phases. Additional investments were made in early-stage biosimilar candidates FYB208 and FYB209.

Formycon increased its financial outlook for 2024, driven by enhanced EBITDA expectations and working capital improvements due to early milestone payments. The company's strategic focus remains on expanding its biosimilar pipeline.

The full 2024 half-year report is accessible on Formycon's website, with a conference call scheduled to discuss these developments further.