Heidelberg Pharma AG Announces Updated Financial Guidance

Heidelberg Pharma AG, a clinical stage biotech company, has revised its guidance for the fiscal year 2024. The company now expects sales and other income between EUR 10.0 million and EUR 12.0 million, slightly adjusted from the previous forecast of EUR 9.0 million to EUR 12.0 million. Operating expenses are anticipated to range from EUR 30.0 million to EUR 33.0 million, down from the prior estimate of EUR 36.0 million to EUR 40.0 million.

The revised forecast comes as costs for the Phase I/IIa trial have been lower than initially planned, with these expenses now projected to occur in the next financial year. Consequently, the operating result (EBIT) is expected to be between EUR -19.0 million and EUR -22.0 million, improved from the earlier estimate of EUR -25.5 million to EUR -29.5 million.

Cash requirements for 2024 are now projected to be between EUR 13.0 million and EUR 16.5 million, down from EUR 18.0 million to EUR 22.0 million. Monthly cash consumption is expected to be between EUR 1.1 million and EUR 1.4 million.

The company states that its financing is secured until mid-2025 based on current planning and available funds. Furthermore, a potential payment of USD 75.0 million from HealthCare Royalty could extend the financing until the end of 2026.