Camurus Ab · OMXSTO:CAMX
Camurus Ab — Q2 2024 Earnings Presentation
29 slides from Camurus Ab's earnings presentation, Jul 16, 2024
Slide 1: Second quarter 2024 results
Second quarter 2024 results Audiocast presentation 16 July 2024
Slide 2: Forward looking statements
2 Forward looking statements This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product developments and regulatory approvals and financial performance. Camurus is providing the following cautionary statement. Such forward-lo
Slide 3: Agenda
3 Agenda • Business highlights Company participants • Financial performance Fredrik Tiberg, PhD • Commercial development President & CEO, CSO • R&D pipeline update Jon Garay Alonso Chief Financial Officer • Key take-aways Richard Jameson • Q&A Chief Commercial Officer
Slide 4: Business highlights
camurus. Business highlights
Slide 5: Strong profitability and operational execution
5 Strong profitability and operational execution Positive financial development Commercial execution Advancing R&D pipeline Revenues grew 46% YoY* to Strengthened global leadership in EU MAA for CAM2029 in acromegaly SEK 445 million opioid dependence treatment accepted for review by the EMA
Slide 6: Financial performance
camurus, — Financial performance SF
Slide 7: Strong revenue growth and result
7 Strong revenue growth and result Revenue Profit before tax MSEK MSEK Cash position 1000 958 500 SEK 2,567 million 457 835 +292% vs Q2 2023 800 400 381 674 +42% 600 300 Q2 447 445 201 400 200 +46% 227 +113 104 200 100 +92 2 2 0 0 Q2 H1 Q2 H1 Q2 H1 Q2 H1 Q2 H1 Q2 H1 2022 2023 2024 2022 2023 2024 One
Slide 8: Reported Q2 profit and loss
8 Reported Q2 profit and loss CER YTD CER MSEK Apr – Jun Change Change Jan – Jun Change YTD Change YTD 2024 vs. 2023 vs. 2023 2024 vs. 2023 vs. 2023 Total revenues 445 -34% -35% 835 -13% -13% excl. one-time milestones/license rev. +46% +41% +42% +40% Gross margin 413 -285bps -287bps 772 -148bps -131
Slide 9: Strong operational cash flow
9 Strong operational cash flow FY 2024 guidance reiterated 196 -56 expected to finalize in the mid to -2 0 2,567 high end of the interval: Revenue 155 SEK 1,740 – 1,860 million + 33 – 42% vs. 2023 excluding 2274 one-time revenues Profit before taxes SEK 330 – 450 million 131 – 215% vs. 2023 excludin
Slide 10: Commercial development
camurus. Commercial development
Slide 11: Buvidal – in-market growth continues
11 Buvidal – in-market growth continues •Sales growth across all markets •Quarterly sales reported and at CER1 ‒ Net sales Q2 2024: SEK 400 million; +31% YoY MSEK 400 • Quarter-on-quarter growth invoiced sales 10% (6% at CER1) 400 366 364 ‒ Est. >53,000 patients in treatment with Buvidal end Q2 2024
Slide 12: Solid Brixadi performance in the US
12 Solid Brixadi performance in the US •Continued strong growth of Brixadi •Brixadi royalty by quarter ‒ 73% royalty growth QoQ MSEK 50 ‒ Growth across all segments (Medicaid, commercial, 45 federal and correction 40 •Widening access to Brixadi for OUD in the US +73% ‒ Payer support continued grow f
Slide 13: Growing scientific evidence base
13 Growing scientific evidence base – New publication showing efficacy data for Buvidal/Brixadi in Recent key publications treating opioid dependence in individuals using fentanyl Selected scientific conference participation in 2024: Q1/Q2 2024 Q3/Q4 2024 Global ASAM CPDD ISAM 4-7 Apr 15-19 Jun 5-8
Slide 14: R&D update
camurus. R&D update
Slide 15: Positive topline Phase 3 results from ACROINNOVA 2 in acromegaly
15 Positive topline Phase 3 results from ACROINNOVA 2 in patients with acromegaly •ACROINNOVA 2 trial design •Primary endpoint: ‒ 52-week, open-label, long-term safety and extension trial ‒ Long-term safety and tolerability •Patient population (N=135) •Secondary endpoints: ‒ New patients in trial; I
Slide 16: Increased biochemical control during CAM2029 treatment in ACROINNOVA 2
16 Increased biochemical control during CAM2029 treatment in ACROINNOVA 2 Estimated difference in IGF-1 response rate at week 50/52 compared to SoC baseline Difference w50/52 vs. SoC baseline (mean, 95% CI) Est. proportion of patients with IGF-1 ≤1×ULN (%) 22.8 Patient populations CAM2029 in ACROINN
Slide 17: Roll-over placebo patients regained biochemical control during CAM2029 treatment
17 Roll-over placebo patients regained biochemical control during CAM2029 treatment Change from SoC and placebo baselines to week 50/52 of treatment with CAM2029 Est. proportion of patients with IGF-1 ≤1×ULN (%) Difference w50/52 vs. baseline (mean, 95% CI) Patient population 68.5 Placebo in ACROINN
Slide 18: Acromegaly symptoms decreased during treatment with CAM2029
18 Acromegaly symptoms decreased during treatment with CAM2029 Continued symptom improvements from the SoC baseline 0.5 Overall study population Acromegaly index of severity overall score, Change from baseline (mean, 95% CI) 0 Acromegaly index of severity (AIS) The AIS overall score was calculated a
Slide 19: Improvement in quality of life with CAM2029 treatment
19 Improvement in quality of life with CAM2029 treatment in ACROINNOVA 2 Quality of life scores (AcroQoL) improved for CAM2029 patients compared to SoC baseline Improved quality of life AcroQoL change from SoC baseline* The Acromegaly Quality of Life (AcroQoL) 3.9 questionnaire is a disease-specific
Slide 20: Greater patient satisfaction with CAM2029 than with SoC
20 Greater patient satisfaction with CAM2029 than with SoC in ACROINNOVA 2 Improvement in TSQM mean change from Many patients rated experience of CAM2029 SoC baseline1 as “much better” than previous SoC 15.4 Improved treatment Increased patient 56 satisfaction satisfaction 32 31 Improvement 5.4 from
Slide 21: Confirmed long-term safety profile and tolerability
21 Confirmed long-term safety profile and tolerability •Summary of adverse events •CAM2029 was generally well tolerated Overall with a consistent safety-profile to SoC Category (N=135) ‒ Most common AEs were mild to moderate, n (%) transient injection site reactions and AE 102 (75.6) gastrointestina
Slide 22: Overall conclusions from ACROINNOVA 2
22 Overall conclusions from ACROINNOVA 2 CAM2029 was well tolerated, with no new or unexpected safety signals Increased or maintained response (IGF-1≤1) over 52 weeks of CAM2029 treatment ‒ Increased response rate from SoC baseline in new recruited patients (IGF-1<2 at screening) ‒ Maintained respon
Slide 23: CAM2029 progressing towards market with upcoming key milestones 2024/25
23 CAM2029 progressing towards market with upcoming key milestones 2024/25 Pivotal randomized placebo controlled Subcutaneous Octreotide Randomized Polycystic liver Safety and efficacy and long-term safety trials in acromegaly Efficacy in Neuroendocrine TumOrs TriAl with subcutaneous Octreotide Po
Slide 24: High medical affairs activity in preparation for launch of Oclaiz
24 High medical affairs activity in preparation for launch of Oclaiz™ Participation at international meetings Key scientific conferences for CAM2029 in 2024 Multiple presentations (oral and posters) of Q1 2024 Q2 2024 Q3 2024 Q4 2024 ACROINNOVA data at leading conferences: ICE AACE ENDO ENEA NANETS
Slide 25: On track to deliver our 2024 goals
25 On track to deliver our 2024 goals Solid growth for Buvidal in Europe and Australia Continued strong launch momentum for Brixadi in the US US NDA and EU MAA review processes for CAM2029 in acromegaly on track – US PDUFA date 21 October 2024 Significant progress in late and early-stage pipeline pr
Slide 26: Q&A
camurus. O&A
Slide 27: Shareholders and analyst coverage
27 Shareholders and analyst coverage Shareholders as of 28 June 2024 Number of shares % of capital % of votes Sandberg Development AB 20,530,692 35.0 35.2 Fjärde AP-fonden 2,610,766 4.5 4.5 Analysts JP Morgan Chase Bank 2,107,664 3.6 3.6 Carnegie Swedbank Robur Fonder 1,955,941 3.3 3.4 Erik Hultgård
Slide 28: Experienced and committed management team
28 Experienced and committed management team Fredrik Tiberg, PhD Education: M.Sc. in Chem. Eng., Lund Institute of Technology, Jon Garay Alonso Education: Bachelor in Business Administration by President & CEO, CSO PhD and Assoc. Prof. Physical Chemistry, Lund University. Chief Financial Officer Uni
Slide 29: Broad and diversified product portfolio and pipeline
29 Broad and diversified product portfolio and pipeline Phase 1 Phase 2 Phase 3 Registration Market Product on the market Buvidal® Opioid dependence Brixadi® Opioid use disorder (USA)1 Pipeline programs CAM2029 Acromegaly CAM2029 Gastroenteropancreatic neuroendocrine tumors CAM2029 Polycystic liver