Basilea raises 2026 revenue outlook to CHF 310 million and cumulative cash flow target to CHF 650 million
Key Facts
Basilea Pharmaceutica raised its 2026 total revenue forecast to about CHF 310 million, an increase of about 33% from the previous year, after its previous guidance pointed to growth of about 15%. The company said the revision reflects commercial momentum, continued growth in Cresemba and higher expected income from milestone payments. It also raised expected revenue related to Cresemba and Zevtera to about CHF 250 million, compared with previous guidance of about CHF 210 million. Under its Agenda 2030 plan, it increased its cumulative cash flow target from the two products during 2026–2030 to CHF 650 million from CHF 600 million. The figures put commercial activity at the heart of the financial update, alongside continued investment in clinical development programmes.
The company compares its new total revenue forecast with actual revenue of CHF 232.4 million in 2025. Revenue related to Cresemba and Zevtera was CHF 194.4 million last year, before the forecast for this year was raised to about CHF 250 million. The chief financial officer estimated that the increase in milestone payment income allows the company to raise guidance for the two products to CHF 250 million, 19% above previous guidance. Within that estimate, Basilea expects the products’ commercial activity to contribute about CHF 215 million in cash in 2026, versus about CHF 180 million previously. It also raised its estimate for milestone payments to about CHF 65 million from about CHF 35 million.
On spending, Basilea expects research and development expenses to reach about CHF 125 million in 2026, an increase of about 18% from 2025, compared with previous guidance for growth of about 20%. Actual expenses were CHF 105.9 million last year. In its first-half 2026 results, the company reported total revenue of CHF 119 million, up 14.4% from CHF 104 million in the same period of 2025. Operating profit was CHF 31.6 million, up 31.7% from CHF 24 million, while net profit rose 76.6% to CHF 27.9 million from CHF 15.8 million. These previous results provide context for the new full-year revenue guidance, while the company keeps development spending within its announced plan.
Basilea said its partners’ global sales of Cresemba rose 27% to $782 million in the 12 months from April 2025 to March 2026. This partner sales growth comes alongside the company’s estimate that Cresemba will continue to grow, a commercial driver it cited among the reasons for raising guidance. Cash, cash equivalents and restricted cash stood at CHF 176 million on June 30, 2026, up 32.6% from CHF 132.7 million on the corresponding date in 2025. Net cash also rose to CHF 105.3 million from CHF 50.7 million. The chief executive said commercial momentum "strengthens the financial foundations of our Agenda 2030 strategy and increases our ability to continue investing in growth."
The company links its financial targets to a plan to expand its commercial portfolio, aiming to reach four commercial assets by 2030 and seeking to launch fosmanogepix and ceftibuten-ledaborbactam within the same period. The global Phase 3 programme for fosmanogepix is approaching data readouts targeted by the company for mid-2028, after completing enrollment in the salvage therapy cohort of a study of invasive mold infections. For ceftibuten-ledaborbactam, Basilea plans to study it in a single Phase 2/3 trial, without a separate confirmatory Phase 3 study. It targets starting the study in mid-2027, with data from the Phase 2 portion potentially available by the end of 2028. The company set its Capital Markets Day in Zurich for October 28, 2026, to present its strategic direction and value drivers.