Formycon AG Sees Strong Fiscal Year 2024, Eyes Continued Growth in 2025

Formycon AG reported a successful financial year 2024, with revenues exceeding forecasts at €69.7 million. The company's adjusted EBITDA reached €-1.6 million, aligning with expectations. Despite commercial challenges in the U.S., Formycon achieved significant milestones, including FDA and EMA approvals for FYB202 and FYB203 biosimilars.

A strategic cash inflow of €82.8 million from a partnership bolstered Formycon's financial stability, positioning the company for continued growth. The firm's uplisting to Deutsche Börse's Prime Standard and inclusion in the SDAX enhanced its market visibility. For 2025, Formycon anticipates steady performance despite a challenging environment, projecting revenues between €55.0 million and €65.0 million.

Formycon remains committed to advancing its biosimilar pipeline, aiming for profitability by 2026. The company continues to invest in development, focusing on sustaining long-term growth in the biosimilar market.