Heidelberg Pharma AG Announces Updated Guidance for 2024

Heidelberg Pharma AG (FSE: HPHA), a biotechnology company, has revised its financial guidance for the fiscal year 2024. The company now expects sales and other income to range between EUR 9.0 million and EUR 12.0 million, down from the previously anticipated EUR 11.0 million to EUR 15.0 million. This adjustment is attributed to delays in expected sales from license partners.

Operating expenses are projected to remain between EUR 36.0 million and EUR 40.0 million. Consequently, the operating result (EBIT) is forecasted to be between EUR -25.5 million and EUR -29.5 million, a slight change from the previous estimate of EUR -23.5 million to EUR -27.5 million.

The company's cash requirements for 2024 are expected to be lower, estimated at EUR 18.0 million to EUR 22.0 million, compared to the previous forecast of EUR 28.0 million to EUR 32.0 million. Monthly cash consumption is also expected to decrease, ranging between EUR 1.5 million and EUR 1.8 million per month. Heidelberg Pharma's financing is secured until mid-2025, with an additional USD 75.0 million payment from HealthCare Royalty extending this until the end of 2026.