Verici Dx Plc · LSE:VRCI
Verici Dx — H1 2024 Earnings Presentation
19 slides from Verici Dx's earnings presentation, Jul 15, 2024
Slide 1: HY24 Results and Business Update
HY24 Results and Business Update July 2024 Transforming kidney transplant outcomes
Slide 2: Disclaimer
DISCLAIMER THIS PRESENTATION AND ITS CONTENTS ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA (THE "U.S.") (EXCEPT TO CERTAIN INVITED QIBS AND AIS (AS DEFINED BELOW), CANADA, AUSTRALIA, JAPAN OR ANY JURISD
Slide 3: Business Update
Business Update Sara Barrington, CEO 3
Slide 4: Strong scientific platform provides multiple opportunities for further development and revenue generation
Strong scientific platform provides multiple opportunities for further development and revenue generation AUTO-IMMUNE DISEASES PRE-TRANSPLANT | EARLY-STAGE DAMAGE | LATE-STAGE DAMAGE Core Kidney Transplant business o lo g y o lo g y Techn Other development Techn Data generated New New e.g.Urine Prog
Slide 5: Income Streams
Transitioned from research company to focus on monetisation of diversified revenue lines Core Testing Business Services PRE-TRANSPLANT | EARLY-STAGE DAMAGE | LATE-STAGE DAMAGE Business R R Research Asset • Deceased Donor • Existing claims • Fibrosis and long • Wet Lab • Living Donor • Delayed Graft
Slide 6: H1 2024 Review
H1 2024 Review Sara Barrington, CEO 6
Slide 7: Licensing revenues: Key milestones completed
Licensing revenues: Key milestones completed Licensing Revenues • Completed transfer milestones for Clarava™ to Thermo Fisher, generating cash inflows and recognised revenue. • Thermo Fisher presented the rebranded Pre-Transplant Risk Assessment (“PTRA”), formerly Clarava™, to the clinical community
Slide 8: Direct Revenues: Commercialisation on track
Direct Revenues: Commercialisation on track Direct Revenues • Tutivia™ ordering centres now increased to 15 with Company focus on both new and repeat ordering. • Presented new data at ATC on the usefulness of Tutivia™ in the setting of delayed graft function (DGF), where there is unmet clinical need
Slide 9: Other Revenues: Product development on track
Other Revenues: Product development on track Other Revenues (source to be determined) • 12-month visits complete. . • Team now in the process of data cleaning with analysis due in 1H 2025. • Cohort expanded for the 24-month visits and some samples already collected. Urine program, other organs, auto
Slide 10: Services Business: Expanded Revenue Centre
Services Business: Expanded Revenue Centre Services Business • Completed transfer milestones for urine samples to Thermo Fisher, generating revenues. • Collaboration announced: The Westmead Institute for Medical Research (“WIMR”) based in Sydney, Australia: - Research project funded via a 4-year fed
Slide 11: Market Trends and Developments
Market Trends and Developments Regulatory Reimbursement • FDA oversight extended to include CLIA • Following submission of our TA file, we are process. now in an active review process. • Verici Dx is compliant. • Following confusion in 2023 regarding the MolDx changes to the Local Coverage • Future
Slide 12: H1 2024 Results
H1 2024 Results David Anderson, CFO 12
Slide 13: Financial Highlights
Financial Highlights • Revenues of $3.3m in the period (FY 23: $1.0m) - Product licensing revenues relating to the transfer of Clarava™ - Services revenues relating to the urine data asset licensing - $2.8m received to date under the agreement with Thermo, with a further $1.5m invoiced at period end
Slide 14: Cash Flow Statement
Cash Flow Statement Six months to June 2024 2024 Comments $’000 Net outflow from operating (3,177) • Operating outflow: of the $3.3m revenue, activities $1.5m was received in 2023 and held as Investing activities (95) deferred revenue, so not all flowing into cash in this period. Financing activitie
Slide 15: Income Statement
Income Statement Six Months to June 2024 2024 Comments $’000 Revenue 3,339 • Revenue: milestone payments on transfer of Administrative expenses (4,368) assay and urine samples Depreciation and amortisation (388) • Admin: Share based payments charge (36) - Staff costs $1.9m Interest expense (13) - R&
Slide 16: Balance Sheet
Balance Sheet Comments As of 30 June 2024 2024 • Tangibles: minimal spend in year $’000 • Intangibles: $1.5m cost of original license from Renalytix Tangible assets 1,073 plus additional spend on licenses and patents Intangible assets 2,084 Receivables 1,934 • Receivables: $1.5m trade receivables an
Slide 17: Summary and Outlook
Summary and Outlook Sara Barrington, CEO 17
Slide 18: Confident outlook from current revenues and other opportunities
Confident outlook from current revenues and other opportunities Large Strong track Tests Advanced Diversified addressable record of commercialized regulatory and revenue streams market and delivery with pipeline reimbursement critical need aims to be at the centre of RNA Signature testing 18
Slide 19: <)clarava
<)clarava Ctutivia