Denmark · Delayed Price · Currency is DKK Gubra Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw strong biotech pipeline momentum, facility expansion, and improved financials, driven by milestone revenue and CRO growth. Two partnered obesity assets advance to phase II, while new ventures and CRO platforms expand strategic reach.
Fiscal Year 2025
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Record 2025 results driven by the AbbVie deal, with revenue of DKK 2.6 billion and net profit of DKK 1.7 billion. CRO growth slowed due to US biotech headwinds but is expected to rebound in 2026. Pipeline expansion and new ventures are set to drive future growth.
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Record revenue and margins were achieved, driven by milestone deals and strong Discovery & Partnerships performance, despite a 5% CRO revenue decline due to macroeconomic headwinds. UCM2 and ABBV-295 programs advanced, with clinical trials planned and a major out-licensing deal completed.
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Record H1 2025 revenue driven by a major AbbVie deal boosted Discovery & Partnerships, while CRO services faced U.S. market headwinds and revised guidance. Strong clinical progress in obesity pipeline and a new focus on women's health were highlighted.
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A major licensing deal with AbbVie brought $350M upfront and future milestone potential, while interim GUBamy data showed strong safety and efficacy. CRO revenue dipped slightly, but full-year growth and cost guidance remain unchanged.
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A transformative global partnership was announced to accelerate GUBamy’s development in obesity, with AbbVie providing significant financial and operational resources. The deal includes a $350M upfront payment, up to $1.875B in milestones, and tiered royalties, supporting further pipeline growth.
Fiscal Year 2024
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Service business grew 31% with a 30% EBIT margin, surpassing expectations. Focus shifts to balancing CRO growth with increased R&D investment, advancing key pipeline programs and expanding into new therapeutic areas.
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CRO revenue grew 31% with a 30% EBIT margin, driven by obesity and kidney services. Increased R&D investment will limit CRO growth to 10-20% in 2025 as focus shifts to advancing Amelin and UCN2 programs, with total costs guided at DKK 230-250 million.
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GUBamy's Phase I-A trial showed it is well tolerated with mild, transient GI side effects and a long half-life supporting once-weekly dosing. Dose-dependent, sustained weight loss was observed, supporting further development and ongoing MAD studies.
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Revenue and EBIT saw strong double-digit growth, driven by robust demand in obesity and kidney research. Pipeline advanced with key clinical milestones, though one Boehringer Ingelheim collaboration was discontinued. Guidance for revenue and EBIT margin was raised.
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CRO revenue grew 34% year-over-year in H1, driven by obesity research demand, with EBIT margin rising to 32%. Full-year guidance for CRO revenue and margin was raised, while the DNP business advanced key obesity programs and a new triple agonist entered phase I trials.