(RTTNews) - Shares of Swedish Orphan Biovitrum AB (SWTUY.PK) or Sobi were gaining around 3 percent in the morning trading in Stockholm after the biopharmaceutical company reported Thursday significantly higher earnings and revenues in its third quarter.

Further, the company lifted its fiscal 2024 revenue forecast, which is now anticipated to grow by a mid-teens percentage at CER, compared to previously expected low double-digit growth.

The company maintained adjusted EBITA margin outlook in the mid-30s percentage of revenue.

For the third quarter, earnings per share surged to 4.27 Swedish kronor, up from prior year's 0.30 krona. Adjusted earnings per share were 4.36 kronor, compared to 0.54 krona a year ago.

Earnings before interest and tax or EBIT was 2.04 billion kronor, significantly higher than last year's 547 million kronor.

EBITA was 2.92 billion kronor, up from 1.44 billion kronor in the prior year, corresponding to a margin of 42 percent, higher than prior year's 28 percent. The adjusted EBITA margin improved to 43 percent from 30 percent last year.

Total revenue increased 33 percent to 6.89 billion kronor from prior year's 5.17 billion kronor. Revenues climbed 39 percent at constant exchange rates.

In Stockholm, Swedish Orphan Biovitrum shares were trading at 335.20 kronor, up 3.01 percent.

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