Slide 1: Cogstate Investor Briefing (ASX Announcement)
ASX Announcement 28 July 2022 For personal use only Cogstate Investor Briefing Cogstate Ltd (ASX:CGS) has today released an Investor Briefing that provides a business update in respect of the June 2022 quarter as well as revenue and earnings guidance for the year ended 30 June 2022, based upon unaud
Slide 2: Investor Update: June Quarter Business Update
For personal use only Investor Update June Quarter Business Update Results for the 12 months ended 30 June 2022 © 2022 Cogstate Ltd. All rights reserved.
Slide 3: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Cogstate Limited (‘Cogstate’). The information in this presentation is of a general nature and does not purport to be complete, nor does it contain all the information which would be required in a prospectus prepared in accordan
Slide 4: Mission to democratize brain health assessment
We are on a mission to democratize brain For personal use only health assessment across clinical research and clinical care... combining proven science with disruptive digital innovation to make the measurement of cognition as simple, standardized, actionable and common as the measurement of blood p
Slide 5: Company Snapshot
Company Snapshot Cogstate was founded in Melbourne, Australia, where approx. 25% of our workforce is based. We For personal use only Cogstate is a leading neuroscience technology company have a small presence in the UK, but most of our optimising brain health assessments to advance the staff are bas
Slide 6: FY22 Guidance
FY22 Guidance Key Highlights For personal use only Updated guidance based upon preliminary un-audited Revenue was negatively impacted through FY22 results: the March and June quarters by slower than expected enrolment into a key Alzheimer’s Previous Guidance Updated Guidance study, but was within gu
Slide 7: Clinical Trials Sales Contracts
Clinical Trials Sales Contracts Record FY22 sales contracts For personal use only 90 • $82.5m executed in FY22, up 74% 80 compared to PCP 8.8 70 • $8.8m in 4Q22 19.2 60 • Alzheimer’s disease clinical trials: US$ Millions 50 • 84.2% of FY22 sales contracts 13.7 40 11.4 • 65.3% of FY21 sales contracts
Slide 8: Group Revenue
Group Revenue • 4Q22 revenue of $12.6m is a record quarterly result • This was despite slower than expected patient enrolment in a key Alzheimer’s study that delayed recognition of revenue For personal use only during both 3Q22 and 4Q22. • Trailing 12-month revenue of $45.0m, up 38% from 4Q21 14 50
Slide 9: Contracted Revenue Backlog
Contracted Revenue Backlog Year-On-Year Growth in Revenue Backlog The long-dated contractual nature of For personal use only 150 Cogstate revenue provides revenue 140 predictability and insight into future revenue 130 performance. 120 110 $139m Backlog at 30-Jun-22, up 37% 100 year-on-year US$ Milli
Slide 10: Contracted Revenue Run-Off
Contracted Revenue Run-Off 40 Study delays impacting For personal use only 35 revenue recognition 4.2 Notwithstanding $8.8m of additional Clinical Trials 30 4.2 sales contracts executed in 4Q22, contracted revenue for FY23 has not changed materially from 4.2 that projected at 31 March 2022. 25 US$ M
Slide 11: Contracted Revenue At June
Contracted Revenue At 30 June For personal use only 40 35 Growing Momentum Analysis of contracted revenue 30 over the last 3 years, at 30 June, demonstrates the future US$ Millions 25 revenue growth, especially as 20 we look forward to years 2-4. 15 This analysis provides insight to continued revenu
Slide 12: Macro Trends Impacting Our Business
For personal use only 1 2 Breakthrough Global license Alzheimer’s treatments agreement with Eisai Macro Trends Impacting Our Business 3 4 Increased adoption of Alzheimer’s R&D has decentralised trial increased designs 11
Slide 13: Macro Trends Impacting Our Business
For personal use only 1 2 Breakthrough Global license Alzheimer’s treatments agreement with Eisai Macro Trends Impacting Our Business 3 4 Increased adoption of Alzheimer’s R&D has decentralised trial increased designs 12
Slide 14: Current Status: Potential Therapies
Current Status : Potential Therapies For personal use only ADUHELM LECANEMAB GANTENERUMAB DONANEMAB Troubled study. Completed rolling Topline data from phase 3 Started rolling submission submission for Graduate study for accelerated approval Controversial approval. accelerated approval scheduled Q4
Slide 15: Pharma company activities for therapy success
Pharma company activities to ensure clinical and commercial success for a new therapy For personal use only 1. Develop and implement a rigorous communication plan to inform the medical and scientific community about the data supporting efficacy and safety. Prior to launch this will normally include
Slide 16: Potential approval of disease modifying therapy impact
• Infusion is not ideal, therefore seek next generation treatment For personal use only Ø Eisai investigating subcutaneous injection Ø Lilly developing N3pG4, which offers option of subcutaneous injection Potential approval of a • Consider long term use of antibodies disease modifying Ø once amyloid
Slide 17: Macro Trends Impacting Our Business
For personal use only 1 2 Breakthrough Global license Alzheimer’s treatments agreement with Eisai Macro Trends Impacting Our Business 3 4 Increased adoption of Alzheimer’s R&D has decentralised trial increased designs 16
Slide 18: Global License with Eisai
For personal use only • 2 x 10-year licenses (Japan & Rest-Of-World) • Excludes Clinical Trials business Global License • Total upfront payment of US$16m across 2 agreements • Additionally, Cogstate receives a royalty on all revenue, which can not be less than US$30m across 10 years • Eisai fund add
Slide 19: Macro Trends Impacting Our Business
For personal use only 1 2 Breakthrough Global license Alzheimer’s treatments agreement with Eisai Macro Trends Impacting Our Business 3 4 Increased adoption of Alzheimer’s R&D has decentralised trial increased designs 18
Slide 20: Clinical Trials Sales Contracts
Clinical Trials Sales Contracts Record FY22 sales contracts For personal use only 90 • $82.5m executed in FY22, up 74% 80 compared to PCP 8.8 70 • $8.8m in 4Q22 19.2 60 • Alzheimer’s disease clinical trials: US$ Millions 50 • 84.2% of FY22 sales contracts 13.7 40 11.4 • 65.3% of FY21 sales contracts
Slide 21: Macro Trends Impacting Our Business
For personal use only 1 2 Breakthrough Global license Alzheimer’s treatments agreement with Eisai Macro Trends Impacting Our Business 3 4 Increased adoption of Alzheimer’s R&D has decentralised trial increased designs 20
Slide 22: Record number of drug trials using decentralised elements
A record number of drug trials are expected to utilise decentralised elements in 2022 For personal use only Initiated worldwide drug trials identified as involving virtual/decentralised components 21
Slide 23: How is a decentralised trial different?
How is a decentralised trial different? For personal use only Traditional Trials: Decentralised Trials: Doctors in research hospitals Home based assessment via conducting in-person assessments telehealth technologies 22
Slide 24: Outcomes of decentralised trials for Cogstate
• Increased use of digital assessments Cogstate technology is well validated for remote For personal use only assessment • Fewer professionals used Lower training and monitoring cost and better use of scarce resources. • More consistent administration Outcomes Less error, better data. • Easier / fas
Slide 25: Strategic value to Cogstate
Places Cogstate at the For personal use only forefront of decentralised trial design and delivery in Alzheimer’s studies Strategic value to Positions Cogstate as a Cogstate strategic partner for other tech providers. We enable our partners to bid on trials in central nervous system diseases where sp
Slide 26: Positive Business Outlook
Positive Business Outlook For personal use only Clinical Trials Growing Healthcare Upside Growth in sales contracts represents positive macro Short-term revenue will predominantly represent dynamics as well as expansion in sales channels. amortisation of Eisai contractual minimum payments. High reve
Slide 27: For personal use only
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