Investors unimpressed by Almirall's modest sales guidance raise

Spanish drugmaker Almirall (BME: ALM) left investors less than impressed with its latest financial results.

The Barcelona-based dermatology specialist was trading 4% lower on Thursday afternoon, following the presentation of the company’s figures from the first nine months of 2023.

"As we gear up for the lebrikizumab launch, we're embarking on a transformative journey for our company"Net sales for this period reached 674.6 million euros ($721.1 million), a rise of more than 6%, while total earnings before interest, taxes, depreciation and amortization (EBITDA) were 137.8 million euros, down 6% but in line with expectations.