HONG KONG SAR - Media OutReach Newswire - 8 August 2025 - Bora Pharmaceuticals (TWSE: 6472) today announced its financial results and operational highlights for second quarter of 2025.

Quarterly Business and Financial Highlights

· Company reported quarterly basic EPS of NT$5.95, with NT$1.81 from discontinued operations. OPEX was ~15% below guidance, aided by a ~4% FX gain. Gross margin was impacted by ~4% due to lower CDMO utilization. · FX loss totaled at ~NT$252 million in 2Q25, or NT$2.4 per share; Excluding FX impact from operational to non-OP, core EPS would have reached approximately NT$8.08, second highest on record after 1Q23, excluding all M&A related non-operating gains. · Fueled by expanded capacity and new dosage forms, Bora's CDMO business in 1H25, including internal orders, grew 69.5% compared to same period last year, reaching more than NT$5.01 billion, and yet posted a 26.6% sequential decline during the quarter due to slower momentum navigating through transitional integration phase mainly at sterile injectable site in Maryland and Zhunan facility with no impact on long-term fundamentals. · Pharma Sales revenues in 1H25 rose 23.0% YoY based on reported unaudited monthly sales, driven by market share expansion of the vigabatrin franchise across three dosage forms. VIGAFYDE uptake continued its acceleration during the quarter, supporting momentum into 2H25. · The Group observed robust CDMO order momentum in 3Q25, supported by a more streamlined and disciplined operating structure. With this solid execution base in place, Bora is confident that core profitability will resume. As CDMO growth accelerates through expanded U.S.-based capacity and capabilities in the near future, Bora shall be positioned for the next inflection point. · Share capital increased 0.25% during the quarter from employee stock option exercises and convertible bond conversions. Company went ex-rights on August 4 with book closure and record date both on August 10. · The Board approved setting up Bora Global Ltd., a wholly owned BVI subsidiary of Bora, and the injection of US$40mn in eye of fluctuating FX and other geo political nuances to reduce the Company's USD exposure. Mr. Bobby Sheng, Chairman of Bora Group, stated, "The second quarter marks our transition out of the integration phase that began in 4Q24 with stronger operational cash inflow. To further enhance our resilience to geopolitical and currency fluctuations, we have confirmed the establishment of Bora Global Ltd., a wholly owned BVI subsidiary. The planned injection of US$40 million into this entity reflects a proactive step to reduce the Company's USD exposure and strengthen financial flexibility amid ongoing macro uncertainties. Following multiple business and capacity acquisitions last year, we are proud to have established a solid foundation for operational efficiency gains and scalable growth in our change-enabling CDMO business and service-model oriented specialty pharma expansion. Looking ahead, Bora will advance its focus on high-value and complex dosage forms supported by ample cash on hand to grow our CDMO business. As of 2Q25, around 80% of our 2025 CAPEX plan has been deployed. One of the key investments include a high-performance filling line at our Canada site in Mississauga which enables larger volumes at higher speeds with greater flexibility, particularly for dermatologic products. The investment comes as the global dermatology drugs market is projected to nearly double in value to over $70 billion by 2030, reflecting the rising demand for high-quality, specialized treatments. In addition, while Flex-Pro line at our sterile injectable site in Maryland is expected to enter commercial stage production in 3Q25, while state-of-the-art isolated fill-finish system of automated vial, syringe, and cartridge filling line for the cGMP multi-product production of potent and targeted parenteral pharmaceuticals will take place over the course of 2026. Last but not least, year-to-date, we've added 8 new clients to our CDMO network, mostly for Maple Grove site in Minnesota. Newly added order backlog in 2025 increased to US$138 million. Majority of the contracts, in value, belongs to Canadian site and sterile injectable facility with orders from anchor new clients. On pharma sales side, specialty pharma business significantly outperformed expectations, with the vigabatrin franchise achieving double digit growth in market share. In the second half of the year, we plan to continue investing in channel marketing and strengthening engagement with key stakeholders on the payer side. The revenue mix between specialty pharma and generics reached 35% vs. 65% during the quarter, marking Bora's official transition into a specialty pharma company. Moving forward, we will focus on strengthening our presence in Ready-to-Use forms of dosages in the rare and underserved DEE (Developmental and...