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)
Ad hoc announcement pursuant to Art. 53 LR
Allschwil, Switzerland, August 18, 2026
Basilea Pharmaceutica Ltd, Allschwil (SIX: BSLN), a commercial-stage biopharma company committed to meeting the needs of patients with severe bacterial and fungal infections, announced today its results for the first half year 2026.
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).
Key financial figures
| (in CHF million, except per share data) | H1 2026 | H1 2025 |
| Product revenue | 29.9 | 31.5 |
| Contract revenue | 62.4 | 59.0 |
| Other revenue | 26.7 | 13.5 |
| Total revenue | 119.0 | 104.0 |
| Cost of products sold | (15.4) | (24.2) |
| Research & development expenses | (54.0) | (38.3) |
| Selling, general & administrative expenses | (18.0) | (17.4) |
| Total cost and operating expenses | (87.4) | (79.9) |
| Operating profit | 31.6 | 24.0 |
| Profit before taxes | 32.1 | 19.3 |
| Income taxes | (4.2) | (3.5) |
| Net profit | 27.9 | 15.8 |
| Net cash provided by operating activities | 19.0 | 23.1 |
| Basic earnings per share, in CHF | 2.26 | 1.29 |
| Diluted earnings per share, in CHF | 2.13 | 1.26 |
| (in CHF million) | June 30, 2026 | June 30, 2025 |
| Cash and cash equivalents and restricted cash | 176.0 | 132.7 |
Note: Consolidated figures in conformity with US GAAP; rounding was applied consistently.
The unaudited, condensed consolidated interim financial statements of Basilea Pharmaceutica Ltd, Allschwil for the first half year 2026 can be found on the Company’s website at https://www.basilea.com/financial-reports.
Raised 2026 financial guidance: increase in total revenue driving 40% increase in operating profit
Basilea provides the following updated guidance for the full year (FY) 2026 versus FY 2025:
| (in CHF million / percent) | FY 2026 updated guidance | FY 2026 previous guidance | FY 2025 actuals |
| Total revenue | ~15% increase | ~10% increase | 232.4 |
| Research & development expenses | ~20% increase | ~20% increase | 105.9 |
| Operating profit | ~40% increase | ~20% increase | 51.5 |
- 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: https://event.choruscall.com/mediaframe/webcast.html?webcastid=MBFuUNHa. 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.
| +41 (0) 58 310 50 00 | (Switzerland, Europe and RoW) |
| +1 (1) 631 570 56 13 | (USA) |
| +44 (0) 203 059 58 63 | (UK) |
Replay
The webcast, along with the presentation, will be available online (same link as live audio webcast above) shortly after the event and accessible for three months.
Save the date – Basilea Capital Markets Day on October 28, 2026, in Zurich
The event will provide the audience with a comprehensive update on the company’s strategic direction and value drivers and will include presentations from senior management and external experts. Further details on the agenda and registration will follow.
About Basilea
Basilea is a commercial-stage biopharmaceutical company founded in 2000 and headquartered in Switzerland. We are committed to discovering, developing and commercializing innovative drugs to meet the needs of patients with severe bacterial and fungal infections. We have successfully launched two hospital brands, Cresemba for the treatment of invasive fungal infections and Zevtera for the treatment of bacterial infections. In addition, we have preclinical and clinical anti-infective assets in our portfolio. Basilea is listed on the SIX Swiss Exchange (SIX: BSLN). Please visit basilea.com.
Disclaimer
This communication expressly or implicitly contains certain forward-looking statements, such as "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions concerning Basilea Pharmaceutica Ltd, Allschwil and its business, including with respect to the progress, timing and completion of research, development and clinical studies for product candidates. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd, Allschwil to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd, Allschwil is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
For further information, please 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 |
| media_relations@basilea.com investor_relations@basilea.com | |
This ad hoc announcement can be downloaded from www.basilea.com.
References
- The U.S. Department of Health and Human Services; Administration for Strategic Preparedness and Response; Biomedical Advanced Research and Development Authority (BARDA), provided partial funding with federal funds for Basilea’s ceftobiprole phase 3 program under contract number HHSO100201600002C. This funding covered approximately USD 111 million, or about 75% of the costs for the Staphylococcus aureus bacteremia (SAB) and acute bacterial skin and skin structure infections (ABSSSI) phase 3 studies, regulatory activities, and non-clinical work. BARDA is also supporting Basilea’s fosmanogepix and BAL2062 programs under OTA number 75A50124C00033, and the ceftibuten-ledaborbactam program under contract number 75A50123C00050.
- CARB-X (Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator) funding for this project is provided in part by federal funds from the U.S. Department of Health and Human Services (HHS); Administration for Strategic Preparedness and Response; Biomedical Advanced Research and Development Authority (BARDA) under agreement number 75A50122C00028 and by awards from Wellcome (WT224842), the UK Department of Health and Social Care’s Global Antimicrobial Resistance Innovation Fund (GAMRIF), the Gates Foundation, Germany’s Federal Ministry of Research, Technology and Space (BMFTR), the Novo Nordisk Foundation, Italy’s Ministry of Economy and Finance (MEF), Japan’s Ministry of Health, the European Commission’s DG Health Emergency Preparedness and Response Authority (DG HERA), and KfW Development Bank. The U.S. National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH) in HHS, provides support in the form of in-kind services through access to a suite of preclinical services for product development.
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