Basilea reports strong 2026 half-year results and raises full-year guidance; fosmanogepix phase 3 program on track

Total revenue increases by 14% to CHF 119 million

Operating profit increases by 32% to CHF 32 million and net profit by 77% to CHF 28 million

Fosmanogepix phase 3 program on track for data readout and regulatory submission in 2028

Raising full-year 2026 guidance: operating profit growth of 40%, driven by increase in total revenues

Conference call and webcast today at 4 p.m. (CEST)

David Veitch, Chief Executive Officer, stated: “Our half-year results demonstrate the successful execution of our strategy across both our commercial and R&D portfolio. We have continued to focus on our key value drivers, with Cresemba maintaining its market leadership position in invasive fungal infections and the progress of the phase 3 program for our key asset fosmanogepix. We also continue to prepare for the initiation of the phase 3 program for our antibiotic ceftibuten-ledaborbactam. Our operational progress is underscored by the continued support from the Biomedical Advanced Research and Development Authority, BARDA, which has awarded additional non-dilutive funding for these two clinical programs this year.”

He continued: “Beyond these late-stage programs, we are focusing on creating future value by advancing our earlier-stage pipeline. A highlight was the award of additional non-dilutive funding from Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator, CARB-X, for BAL2420, as we initiated the first phase 1 study. Our research collaborations with Prokaryotics and Phare Bio are progressing too, advancing innovative approaches to developing the next generation of antifungal and antibacterial therapies. With a growing portfolio that spans commercial products, late- and early-stage development programs and promising research projects, we remain firmly on track to achieve our goal of being a leading anti-infectives company with four commercial assets by 2030 and strong long-term growth prospects.”

Adesh Kaul, Chief Financial Officer, said: “We delivered a strong financial performance in the first half-year. Global in-market sales of Cresemba by our partners increased by 27% year-on-year to USD 782 million for the twelve months from April 2025 to March 2026. Following the launch of Zevtera in the US in July of last year, and with market access enabled, we are now seeing increasing numbers of hospitals ordering across the US. In addition, our commercial partner Innoviva Specialty Therapeutics recently expanded its commercial infrastructure to further broaden hospital coverage, which will also benefit Zevtera. Our strong operational execution allows us to significantly increase our operating profit guidance for full-year 2026, and gives us confidence that we are fully on track to deliver on our cash flow targets under Basilea’s Agenda 2030.”

He added: “We continue to invest in the future of Basilea. R&D expenditure increased in line with the progress of the phase 3 fosmanogepix program, the preparations for the phase 3 development of ceftibuten-ledaborbactam and the start of the phase 1 clinical study of BAL2420. We made these investments while improving profitability, reducing financial debt and further expanding our net cash position. This combination of strong cash flows from our commercial business and a strong balance sheet provides us with the financial flexibility to advance our phase 3 pipeline, progress our earlier stage programs and pursue additional external growth opportunities, in order to remain one step ahead as outlined in our Agenda 2030.”

Financial summary

In the first half year (H1) 2026, Basilea reported total revenue of CHF 119.0 million (H1 2025: CHF 104.0 million), an increase of 14.4% year-on-year. Royalty income rose to CHF 57.8 million (H1 2025: CHF 52.1 million), up 10.9% year-on-year, mainly driven by continued strong market demand for Cresemba. Product revenue amounted to CHF 29.9 million (H1 2025: CHF 31.5 million). Milestone and upfront payments totaled CHF 4.7 million (H1 2025: CHF 6.9 million). Other revenue increased to CHF 26.7 million (H1 2025: CHF 13.5 million). This included CHF 22.3 million revenue related to the contracts with BARDA[1] (H1 2025: CHF 11.1 million) and CHF 1.7 million revenue related to the contract with CARB-X[2] (H1 2025: CHF 1.9 million). BARDA revenue is based on activities related to the fosmanogepix phase 3 program, the antifungal BAL2062, the close-out of the ceftobiprole phase 3 program, and ceftibuten-ledaborbactam, while CARB-X revenue is based on activities related to the antibiotic BAL2420.

In H1 2026, Basilea invested CHF 54.0 million (H1 2025: CHF 38.3 million) in R&D, mainly related to the two ongoing phase 3 clinical studies of fosmanogepix in invasive yeast and mold infections. It also includes expenses related to preparations for the upcoming phase 3 program of ceftibuten-ledaborbactam in complicated urinary tract infections, which is planned to start mid next year. Additionally, it includes expenses for the phase 2 preparation for BAL2062, the phase 1 study for BAL2420, and for research work on compounds in the Company’s early-stage portfolio.

Selling, general and administrative expenses, including costs for the commercialization of Cresemba and Zevtera, amounted to CHF 18.0 million (H1 2025: CHF 17.4 million) and cost of products sold amounted to CHF 15.4 million (H1 2025: CHF 24.2 million).

Basilea recorded an operating profit of CHF 31.6 million (H1 2025: CHF 24.0 million), an increase of 31.7% year-on-year. The net profit increased by 76.6% year-on-year to CHF 27.9 million (H1 2025: CHF 15.8 million), resulting in basic and diluted earnings per share of CHF 2.26 and CHF 2.13, respectively (H1 2025: basic and diluted earnings per share CHF 1.29 and CHF 1.26, respectively).

In H1 2026, Basilea presented a positive operating cash flow of CHF 19.0 million (H1 2025: CHF 23.1 million). The decrease compared to the previous year’s period was mainly driven by a temporary increase in receivables and inventory because of the growing commercial business and strong operational execution.

The Company repurchased senior unsecured convertible bonds, due July 2027, in the amount of CHF 5.0 million nominal value in the first half of 2026, further reducing its debt to CHF 71.0 million nominal value as of June 30, 2026. Since the beginning of 2022, Basilea has reduced its total financial debt by approximately CHF 150 million. Cash, cash equivalents and restricted cash increased by 32.6% to CHF 176.0 million as of June 30, 2026 (June 30, 2025: CHF 132.7 million). Furthermore, Basilea increased its net cash position to CHF 105.3 million as of June 30, 2026 (June 30, 2025: CHF 50.7 million).

Cresemba and Zevtera-related revenue is now expected to increase to CHF ~210 million (versus CHF ~200 million previous guidance) with a continued shift towards higher margin contract revenue, which results in an expected increase of cash contribution to CHF ~180 million from the commercial business. While maintaining investment levels in R&D as planned, Basilea expects the operating profit to increase by ~40% (versus ~20% increase in previous guidance). Conference call and webcast

Basilea Pharmaceutica Ltd, Allschwil will host a conference call and webcast today, Tuesday, August 18, 2026, at 4 p.m. (CEST), to discuss the company’s financial and operating results and to provide an outlook.

Via audio webcast with presentation

The live audio webcast of the results presentation can be followed here: event.choruscall.com/mediaframe/webcast.html. Please note that there is no function to ask questions via webcast. For asking questions, please additionally dial-in via phone (see below).

Via phone

To listen by phone and ask questions, please use the dial-in details below. To ensure prompt access, please call approximately five minutes prior to the scheduled start of the call.

Contact:
Peer Nils Schröder, PhD
Head of Corporate Communications & Investor Relations
Basilea Pharmaceutica International Ltd, Allschwil
Hegenheimermattweg 167b
4123 Allschwil
Switzerland
Phone: +41 61 606 1102
E-mail: media_relations@basilea.com, investor_relations@basilea.com