Xbrane warns that it will be insolvent in a couple of months if the desired financing solutions are not reached and the company does not manage to out-license the Xdivane™ and/or XB003 candidates by the end of October.
As communicated on 1 August 2024 and given the previously communicated delay in FDA
approval of Ximluci® and the unforeseen termination of the license agreement with Biogen,
Xbrane Biopharma AB (publ) (“Xbrane” or the "Company”) has initiated a process to out-license
both Xdivane™ and XB003 for purposes of ensuring financing until envisioned positive
operational cash-flow in Q2 2025. It has now become obvious that the company needs to
finalize one of the above-mentioned license deals at satisfactory terms prior to the end of
October 2024 to fulfill the Company’s working capital requirements from beginning of
November 2024 and onwards.