Basilea Pharmaceutica (BSLN) H1 2026 earnings summary

Executive summary

• Total revenue for H1 2026 grew 14–14.4% year-on-year to CHF 119 million, with operating profit up 32% to CHF 32 million and net profit up 76.6–77% to CHF 27.9–28 million.

• Cresemba global in-market sales rose 27% year-on-year to USD 782 million, maintaining market leadership; Zevtera's US launch achieved broad market access and positive clinical feedback.

• Net cash position doubled year-on-year to CHF 105–105.3 million, with cash and equivalents at CHF 176 million.

• Secured USD 61 million in non-dilutive R&D funding in H1 2026, supporting pipeline and collaborations.

• Advanced pipeline with phase 3 programs for fosmanogepix and ceftibuten-ledaborbactam, new collaborations, and phase 1 study for BAL2420.

Financial highlights

• Cresemba and Zevtera-related revenue reached CHF 92.3 million, including CHF 57.8 million in royalties (up 10.9–11% year-on-year) and CHF 4.7 million in milestone/upfront payments.

• Operating profit was CHF 31.6 million, up 31.7–32% year-on-year; net profit reached CHF 27.9 million, up 76.6%.

• Cash and cash equivalents as of June 30, 2026, stood at CHF 176 million, up 32.6% year-on-year.

• Cost of products sold decreased to CHF 15.4 million, while R&D expenses increased to CHF 54 million.

• Cash flow from operating activities was CHF 19 million, reflecting growth and temporary increases in receivables and inventory.

Outlook and guidance

• Full-year 2026 revenue expected to grow by ~15%, with Cresemba and Zevtera-related revenue guided at CHF 210 million; operating profit guidance raised to 40% year-on-year growth.

• Revenue mix shifting toward higher-margin royalties and milestones, with CHF 125 million in royalties, CHF 35 million in milestones, and CHF 50 million in product revenue expected.

• R&D investment to increase by 20% year-on-year.

• "Agenda 2030" targets cumulative CHF 600 million cash flow from Cresemba and Zevtera (2026–2030).

• Targeting four commercial products by 2030, with launches planned for Fosmanogepix and ceftibuten-ledaborbactam.