Moberg Pharma Ab · OMXSTO:MOB
Moberg Pharma Ab — Q3 2019 Earnings Presentation
19 slides from Moberg Pharma Ab's earnings presentation, Nov 19, 2019
Slide 1: Interim report July – September 2019
Interim report July – September 2019 For the extended fiscal year July 2019 ‐ December 2020 November 19th, 2019 at 3:00 p.m. CET. Dial‐in: SE: +46 8 566 427 04, US: +1 833 526 683 98. Anna Ljung, CEO
Slide 2: Disclaimer
Disclaimer The purpose of this presentation (the "Presentation") is to provide an overview of Moberg Pharma AB (publ) (the "Company"). For the purposes of this notice, "Presentation" means this document, its contents or any part of it, any oral presentation, any question or answer session and any wr
Slide 3: Moberg Pharma 2.0
Moberg Pharma 2.0 Pipeline progress Financial performance Focus forward
Slide 4: Moberg Pharma 2.0
Moberg Pharma 2.0 COMMERCIAL BUSINESS PIPELINE ASSETS Divestment for $155m 2 PRODUCTS IN PHASE 3 completed March 29 MOB‐015 BUPI Redemption of shares Topical terbinafine Bupivacaine lozenge against nail fungus against OM to be payed Nov 26, 46.50 SEK per share Distributor sales Potential market lead
Slide 5: Ongoing Share redemption – Payment of 46.50 SEK per share on Nov 26
Ongoing Share redemption – Payment of 46.50 SEK per share on Nov 26 HOW IT WORKS BEFORE AFTER Following the Annual General Meeting’s resolution on October 30, The ordinary redemption shares are then automatically 2019, each ordinary share is split into two shares, one of which is redeemed for SEK 46
Slide 6: Focused on realizing the substantial value of our pipeline
Focused on realizing the substantial value of our pipeline MOB‐015 – Better cure rates, fast visible improvement and shorter treatment • Topical delivering high concentrations of terbinafine through the nail • Efficacy and safety demonstrated in Phase 2, incl. terbinafine levels in nail and nail bed
Slide 7: Moberg Pharma 2.0
Moberg Pharma 2.0 Pipeline progress Financial performance Focus forward
Slide 8: Significant events in July – September 2019
Significant events in July – September 2019 Several key milestones on our path towards creating the next market leader within onychomycosis • MOB‐015 Phase 3 program is on schedule. Topline‐results expected: – December 2019 in North America – Q2 2020 in Europe • License agreement for MOB‐015 signed
Slide 9: MOB-015 – Approaching Phase 3-results
MOB‐015 – Approaching Phase 3‐results North America • The North American study comprises 365 patients randomized at 32 clinics in the U.S. ALL PATIENTS HAVE and Canada. COMPLETED THE NORTH AMERICAN STUDY • Recruitment was finalized in September 2018. • Topline results are expected in December 2019.
Slide 10: Phase 3 – higher probability of success for proven molecules than for new molecules
Phase 3 – higher probability of success for proven molecules (Non‐NME) than for new molecules (NME) Probability of Success Non‐NME vs. NME NME 100% 89% Non‐NME 90% 82% 79% 80% 70% 65% 67% 62% 60% 49% 50% 40% 36% 30% 20% 10% 0% Phase I to Phase II Phase II to Phase III Phase III to NSA/BLA NDA/BLA to
Slide 11: Target to become the leading topical treatment
Target to become the leading topical treatment FDA Treatment Approval Complete cure rate Ciclopirox (Penlac) 1999 5.5‐8.5% Efinaconazole (Jublia) 2014 15‐18%* Main topical branded competitor Tavaborole (Kerydin) 2014 7‐9% X Terbinafine (Lamisil) 1996 38‐54% Adverse events associated Itraconazole 199
Slide 12: MOB-015 – Major partnerships entered 2019
MOB‐015 – Major partnerships entered 2019 February: Consumer Health division of Bayer Group, Europe • The world leader in OTC antifungal treatments with the brand Canesten. • Eligible to up to EUR 50.0 million in milestone payments, where of EUR 1.5 million at time of signing. >200 MUSD EUROPEAN OTC
Slide 13: Moberg Pharma 2.0
Moberg Pharma 2.0 Pipeline progress Financial performance Focus forward
Slide 14: P&L – MUSD 5 received in upfront for MOB-015 in Japan
P&L – MUSD 5 received in upfront for MOB‐015 in Japan July – September 2019 Jul‐Sep Jan‐Mar Jan‐Jun (SEK thousand) 2019 2019 2019 Continuing operations Net revenue 47,819 15,554 15,554 Gross profit 47,819 15,554 15,554 Selling expenses ‐162 ‐566 ‐788 Business development and administrative expenses
Slide 15: Strong Balance Sheet – SEK 946 million in current assets
Strong Balance Sheet – SEK 946 million in current assets (SEK thousand) 2019.09.30 2019.03.31 2019.06.30 Assets Moberg Pharma has Intangible assets 273,835 242,253 255,654 Property, plant and equipment 62 97 80 sufficient funds to Right‐of‐use assets 9,876 11,111 10,493 complete the ongoing Deferred
Slide 16: Cash Flow
Cash Flow Jul‐Sep Jan‐Mar Jan‐Jun (SEK thousand) 2019 2019 2019 Operating activities Operating profit before financial items from continuing operations 41,757 4,952 ‐4,219 Operating profit before financial items from discontinued operations ‐ 594,260 599,371 Operating profit before financial items 4
Slide 17: Moberg Pharma 2.0
Moberg Pharma 2.0 Pipeline progress Financial performance Focus forward
Slide 18: Focus on delivering pipeline value
Focus on delivering pipeline value Aiming to create the next market leader in onychomycosis Continuing to create value for the shareholders of Moberg Pharma with a business strategy centered around MOB‐015 • MOB‐015 Topline‐results expected: – December 2019 in North America – Q2 2020 in Europe • Lic
Slide 19: Moberg Pharma AB (Publ)
Moberg Pharma AB (Publ) Gustavslundsvägen 42, 5 tr. 167 51 Bromma mobergpharma.se