Earnings call transcript: Basilea lifts H1 2026 outlook as stock jumps 8.7%

Basilea Pharmaceutica reported a 14% increase in first-half 2026 revenue to CHF 119 million. Operating profit rose 32% to CHF 31.6 million, driven by strong demand for their antifungal drug Cresemba and growing royalty income. The company raised full-year guidance for both revenue and operating profit. Cresemba sales reached CHF 782 million, up 27% year-over-year.

Royalty income grew 11% to CHF 57.8 million, with milestone and upfront payments totaling CHF 4.7 million. Product revenue grew to CHF 30 million. Other revenue, mainly from BARDA and CARB-X reimbursements, was CHF 26.7 million. Operating expenses increased due to R&D investments, but profit growth outpaced revenue growth. Cash and cash equivalents doubled to CHF 176 million.

The company's operating cash flow was CHF 19 million. Basilea lifted its full-year 2026 revenue and operating profit forecasts, expecting a 15% revenue increase and 40% operating profit growth. Executives highlighted Cresemba's strong performance, with sales now near $800 million annually and growing 29% year-over-year. The company also shared pipeline opportunities, including fosmanogepix and ceftibuten-ledaborbactam, which could generate peak sales of about $1.5 billion.