Bonesupport Holding Ab · OMXSTO:BONEX
Bonesupport Holding Ab — Q1 2018 Earnings Presentation
23 slides from Bonesupport Holding Ab's earnings presentation, May 4, 2018
Slide 1: Q1 2018 Conference Call Presentation
Q1 2018 Conference Call Presentation 4 May 2018
Slide 2: Presenting Team
Presenting Team EMIL BILLBÄCK BJÖRN WESTBERG CEO CFO 2
Slide 3: Disclaimer
Disclaimer This presentation, which includes all information and data on the following slides, any oral statements made when presenting these slides, and any other material distributed or statements made at, or in connection with, such presentation (the “Presentation”), relates to BONESUPPORT HOLDIN
Slide 4: Q1 Highlights
Q1 Highlights • Net sales of SEK 31.1 million - decrease of 4% YoY . Flat in constant currency. Up 15.2% on Q4 2017 – Strong sales growth in EU and RoW – up 27% to SEK 15.2 million – driven by continued success with antibiotic-eluting product (+38%). Record quarterly sales for the region – Reported
Slide 5: What is a bone void?
What is a bone void? A bone void is the result of a failure of the bone self-healing process How do they occur? • Trauma • Infected diabetic foot • Revision arthroplasty • Cysts and bone tumors/mets How do you manage them? • Usually need surgical treatment in conjunction with a bone graft and possib
Slide 6: Bone void management – a sizeable growth market
Bone void management – a sizeable growth market Global market % US Procedures (2) A gold standard with 20% issues: - USD 2.7-3.4 bn 16% • Autograft: - Growing at 5% Complications 27% 23% reported in >19%3-4 (excl autograft) • Allograft: 25%-50% % EU Procedures (2) of allografts have Market Opportuni
Slide 7: Our proprietary CERAMENT platform
Our proprietary CERAMENT ® platform CERAMENT ® platform generates products that provide clear benefits to surgeons, patients and payors CERAMENT ® 60% calcium sulfate (CaS) 40% hydroxyapatite (HA) Remodels to host bone Predictable drug elution PRODUCT PIPELINE CERAMENT ® CERAMENT ® CERAMENT ® BVF G
Slide 8: Q1 Business Highlights
} BONESUBPORT” Q1 Business Highlights
Slide 9: Europe
Europe Growing CERAMENT G and CERAMENT V in Europe Our Q1 activities • Growing adoption of antibiotic-eluting products for the management of bone infections e.g. chronic osteomyelitis • Focus on driving adoption at the top trauma centers in our key European markets • Starting to place more emphasis
Slide 10: Increased in-market sales of CERAMENT BVF in the US
US Increased in-market sales of CERAMENT BVF in the US Our Q1 activities • Sales impacted by Zimmer Biomet hardware supply issues, negative currency effects and inventory build in Q1 2017 affecting YoY comparison • CERAMENT BVF used in conjunction with Zimmer hardware • New sales management organiza
Slide 11: Industry-leading clinical data set – 135 papers/abstracts
Industry-leading clinical data set – 135 papers/abstracts – recent example supporting CERAMENT® G presented at BLRS The choice of local antibiotic carrier significantly affects outcome in treatment of chronic bone infection Ferguson et al. (2018) Summary • Compared the use of CERAMENT® G in 160 pati
Slide 12: FORTIFY progressing as planned – significant commercial opportunity for CERAMENT G in US
FORTIFY progressing as planned – significant commercial opportunity for CERAMENT™ G in US FORTIFY trial timeline 2017 2018 2019 2020 Final module First patient FORTIFY FORTIFY submission to FDA enrolled in the completes follow-up for CERAMENT™ G FORTIFY study enrollment completed PMA submission, inc
Slide 13: Generating clinical data in our key target indications
Generating clinical data in our key target indications Larger Clinical Studies Initiated Regulatory REGULATORY STUDY Feasibility1/ study FPI1/ LPI1/ Filing FORTIFY (US, DE, PL, UK) Initiated POST-MARKETING STUDIES Feasibility1/ study FPI1/ LPI1/ Publication CERTiFy (DE) Revision Arthroplasty (IT) Di
Slide 14: Broadening our product offering
Broadening our product offering • Intend to expand our product offering in the near/medium term • Via a combination of own development, licensing and acquisitions • New products that we bring to market will be complementary to our current CERAMENT products • A number of opportunities are currently u
Slide 15: Financial Review
} BONESUBPORT” Financial Review
Slide 16: 4% decrease in Q1 2018 Net sales
4% decrease in Q1 2018 Net sales -4% Net Sales Q1 Flat in constant currency 16
Slide 17: North America Analysis
North America Analysis Jan-Mar FY (SEKm) 2018 2017 2017 -22% Net Sales Net Sales 15.9 20.5 78.1 Q1 Gross profit 13.5 18.7 69.9 Contribution -2.0 8.8 18.8 +7% End user sales 17
Slide 18: Europe and RoW Analysis
Europe and RoW Analysis Jan-Mar FY (SEKm) 2018 2017 2017 +27% Net Sales 15.2 12.0 51.2 Net Sales Gross profit 12.1 10.1 42.5 Q1 Contribution -0.8 -2.0 -7.6 +38% Net Sales Drug Eluting Products 18
Slide 19: Operating result development
Operating result development Jan-Mar Jan-Dec FY (SEKm) 2018 2017 2017 2016 2016 Net Sales 31.1 32.5 129.3 104.6 104.6 Cost of sales -5.6 -3.6 -16.9 -16.3 -16.3 • Increased sales/marketing activities Gross profit 25.5 28.8 112.4 • 88.3 88.3 FORTIFY study Selling expenses -27.6 -24.8 -92.9 • -79.8 -79
Slide 20: KPIs
KPIs Jan-Mar Jan-Dec 12M (SEKm) 2018 2017 2017 2016 LTM Net Sales 31.1 32.5 129.3 104.6 131.9 Sales Growth (%)1/ -4.2 39.6 23.6 69.4 34.6 Gross profit 25.5 28.8 112.4 88.3 115.9 Gross margin (%)1/ 82.1 88.8 87.0 84.4 87.9 Operating loss -33.1 -27.4 -99.3 -88.7 -94.3 Loss for the period -33.8 -31.1 -
Slide 21: Wrap up
} BONESUBPORT” Wrap up
Slide 22: Well positioned to generate shareholder value
Well positioned to generate shareholder value • Clear strategy based on: • Innovative pipeline and strong R&D • Best clinical evidence and HEOR data • Effective commercial platform • Focus on bringing sharper execution to this strategy to accelerate market penetration • Major commercial market oppor
Slide 23: Q&A
} BONESUBPORT” Q&A