Photocure ASA (PHO.OL), a specialty pharmaceutical company, Wednesday reported profit for the third quarter compared with loss last year.
On the Oslo Stock Exchange, the shares were trading 2.80 percent higher at 55.10 Norwegian kroner.
In the third quarter, the earnings were 4 million kroner compared to a loss of 3.5 million kroner last year.
Photocure's, Hexvix/Cysview revenue in the third quarter increased 12% year-over-year to 134.1 million Norwegian Kroner compared to the same period last year of 120.1 million kroner.
The company's total revenues were up by 12 percent to 135 million kroner from 120.2 million kroner last year.
Photocure believes that the benefits of blue light cystoscopy, BLC with Hexvix/Cysview offering superior detection and management of bladder cancer will continued to be adopted and become the standard of care. North America and Europe are its primary markets for growth.
Photocure expects product revenue growth in the range of 8-10% on a constant currency basis or CER compared to a previous growth of 7-11 percent and year-over-year EBITDA improvement in 2025.
While there is no specific mention of EBITDA guidance range, the company expects continued operating leverage flow-through in its core commercial business and significant potential growth in milestones this year.
"Looking ahead, we anticipate sustained revenue growth, fueled by rigid kit adoption, expansion of mobile BLC, and HD upgrades that enhance utilization and sales", Dan Schneider, President & CEO said in a statement.
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