Photocure ASA · OSL:PHO
Photocure ASA — Q3 2009 Earnings Presentation
20 slides from Photocure ASA's earnings presentation, Oct 28, 2009
Slide 1: Photocure ASA Third quarter 2009
Brilliance in photodynamic technology TM Photocure ASA Third quarter 2009 October 28th, 2009 Kjetil Hestdal, President & CEO and Christian Fekete, CFO
Slide 2: Highlights third quarter 2009
Highlights third quarter 2009 Total revenues of NOK 389.3 million (23.6) Operating profit of NOK 353.7 million (-12.7) Sale of Metvix®/Aktilite® to Galderma for EUR 51 million Liquid funds of NOK 512 million per 1 October 2009 Photocure’s Board propose a dividend of NOK 4.00/share and initiation of
Slide 3: Photocure going forward
Photcure going forward • We intend to create a unique Specialty Pharma company • We will continue to focus on PDT based products • We will increase our commitment to the Dermatology market with Visonac and other products • We remain committed to our Cancer portfolio • Continue providing PDT products
Slide 4: Strong platform for future growth
Strong platform for future growth Creating value from strong IP position in million euro Dermatology and Cancer Peak sales potential Indication Status Detection of bladder cancer Fast-track NDA Hexvix® (US, TURB**) review in the US Cevira™ Treatment of cervical cancer Phase I/II Lumacan™ Detection o
Slide 5: Financial statements
Brilliance in photodynamic technology TM Financial statements
Slide 6: Profit & Loss
Profit & Loss • Sale of `Metvix®/Aktilite® Numbers in NOK thousand (unaudited) Q3 09 Q3 08 YTD 2009 YTD 2008 Sales revenue 26 270 23 629 84 232 67 727 • EUR 44 million in cash Signing fee & milestone revenues 362 986 0 362 986 1 303 • EUR 7 million before 2017 Total revenues 389 257 23 629 447 218 6
Slide 7: Segment information – Q3 2009
Segment information – Q3 2009 (unaudited) Q3 2009 Q3 2008 Numbers in NOK thousand Own Partner R&D* Total % vs. 08 Own Partner R&D* Total Sales revenue Metvix/ Aktilite 5 821 8 528 13 809 -13 % 5 996 9 807 15 803 Sales revenue Hexvix 4 716 7 746 12 461 59 % 2 620 5 206 7 826 Total sales revenues 9 99
Slide 8: Segment information – YTD 2009
Segment information – YTD 2009 (unaudited) YTD 2009 YTD 2008 Numbers in NOK thousand Own Partner R&D* Total % vs. 08 Own Partner R&D* Total Sales revenue Metvix/ Aktilite 19 177 31 017 50 194 13 % 17 474 26 945 44 418 Sales revenue Hexvix 13 065 20 973 34 038 46 % 6 822 16 487 23 309 Total sales rev
Slide 9: Balance sheet - assets
Balance sheet - assets • NOK 512 million in cash at 1 Numbers in NOK thousand (unaudited) 30.9.2009 31.12. 2008 October 2009 Non-current assets • Cash and cash equivalents of Intangible assets, software 418 534 NOK 140.3 million Machinery & Equipment 2 074 3 939 • Receivables of NOK 408.6 Other inve
Slide 10: Balance sheet - equity & liabilities
Balance sheet - equity & liabilities • NOK 538.7 million in Numbers in NOK thousand (unaudited) 30.9.2009 31.12.2008 shareholder’s equity Paid-in capital 11 047 11 047 Other paid-in capital 191 390 15 467 • No interest bearing debt Retained earnings 335 678 173 181 • Metvix/Aktilite liabilities Shar
Slide 11: Cash Flow
Cash Flow • NOK –10.2 million in Net Numbers in NOK thousand (unaudited) Q3 2009 FY 2008 change in cash during Q3 Income/ loss before tax 355 337 -64 382 Other operational items -366 963 4 704 Net cash flow from operations -11 626 -59 677 Cash flow from investments 1 384 -12 865 Cash flow from capit
Slide 12: Financial Summary – Q3 2009
Financial Summary – Q3 2009 • Sales of Metvix/Aktilite business for EUR 51 million, received EUR 44 million in cash on 1 October, 2009 • NOK 512 million in cash on 1 October, 2009 • Sales revenues from Hexvix growing 59 % to NOK 12.5 million (7.8) • Operating income of NOK 353.7 million (-12.7) • Ex
Slide 13: Hexvix - a breakthrough in bladder cancer diagnostics
Brilliance in photodynamic technology TM Hexvix® - a breakthrough in bladder cancer diagnostics
Slide 14: Hexvix value proposition
Hexvix® value proposition - the only licensed product of its type • Enables doctors to carry out a more effective tumour removal • Strong improvement compared to standard diagnostic procedures Hexvix results Detection of patients w/ bladder cancer 30% more1. Detection of patients w/ CIS lesions 28%
Slide 15: Hexvix - status third quarter 2009
Hexvix - status third quarter 2009 • Submitted NDA for Hexvix in the US in June • FDA designated the NDA for priority review in August 15
Slide 16: Hexvix key sales figures
Figuren må oppdateres Hexvix® key sales figures Key sales figures: +23 % • 1,226 Hexvix units sold in the Nordic region, an increase of 52% vs PY • Denmark and Finland are key drivers • 5,376 Hexvix units sold by GE Healthcare, an increase of 18% vs PY • High growth countries includes Italy, UK and
Slide 17: Hexvix – roadmap
Hexvix – roadmap • Secure US approval and prepare US launch • Secure increased growth in EU • Increase sales efforts by dedicated sale forces and increased sales activities • Increase installed base with project blue light II • Obtaining proper reimbursement in key countries • Initiate post marketin
Slide 18: R&D summary Q3
Brilliance in photodynamic technology TM R&D summary Q3
Slide 19: R&D Summary – Q3 2009
R&D Summary – Q3 2009 • Visonac™ • Started phase II study in US/Canada with up to 100 patients • Submitted application for market approval (510k) for acne lamp in the US • Cevira™ • Ongoing recruitment in phase I/II PoC study – progressing as planned • Lumacan™ • Ongoing recruitment in phase I/II Po
Slide 20: Highlights third quarter 2009
Highlights third quarter 2009 Sale of Metvix®/Aktilite® to Galderma for EUR 51 million Liquid funds of NOK 512 million per 1 October 2009 Total revenues of NOK 389.3 million (23.6) Operating profit of NOK 353.7 million (-12.7) Photocure’s Board propose a dividend of NOK 4.00/share and initiation of