Formycon AG Boosts 2024 Fiscal Year Outlook

• Formycon AG has raised its guidance for the 2024 fiscal year based on preliminary half-year figures.
• The company now expects an At-Equity result of approximately €20.0 million for 2024, up from the previously anticipated €10.0 million.
• Adjusted EBITDA guidance has been revised from a range of -€15.0 million to -€5.0 million to a new range of -€5.0 million to €5.0 million.
• Working capital as of June 30, 2024, is reported at €63.0 million, with an adjusted forecast range of €35.0 million to €45.0 million.
• The European approval process for the Stelara biosimilar candidate FYB202 has progressed positively, leading to an earlier expected EU approval.
• Formycon AG will publish its half-year report for 2024 on August 13, 2024.

The next important date, Publication of semi-annual financial statements, at Formycon is on 13.08.2024.

The price of Formycon at the time of the news was 50,05EUR and was up +11,10 % compared with the previous day.
7 minutes after the article was published, the price was 47,70EUR this corresponds to a minus of -4,70 % since publication.

Formycon

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ISIN:DE000A1EWVY8WKN:A1EWVY

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