Bioporto A/s · OMXCOP:BIOPOR
Bioporto A/s — Q1 2024 Earnings Presentation
22 slides from Bioporto A/s's earnings presentation, May 8, 2024
Slide 1: Interim Report Q1 2024
Interim Report Q1 2024 BioPorto A/S Hellerup, May 8, 2024 CONFIDENTIAL | © Copyright BioPorto | 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements References herein to this presentation shall mean and include this forward-looking statements to reflect subsequent events or document, any oral presentation accompanying this document provided circumstances after the date of this presentation. by BioPorto A/S (the “Compan
Slide 3: Highlights from Q1 2024
Highlights from Q1 2024
Slide 4: Highlights from Q1 2024
Highlights from Q1 2024 • 80% growth from sales of NGAL products in the US and 27% T O TA L R E V E N U E increase in revenue from NGAL globally. DKK 9.5 million a 18% increase over same • Development and implementation of revised strategy with detailed period the prior year and ambitious long-term
Slide 5: Strategic Roadmap
Strategic Roadmap
Slide 6: Unlocking a USD 3bn Market for ProNephro AKI NGAL
Unlocking a USD 3bn Market for ProNephro AKI NGAL TAM Global USD 3 Billion Adult US USD 1.1 B Worldwide, all big 5 instrumentations, all AKI indications Pediatric US USD 60-80 M Adult RoW USD 1.7 B Pediatric RoW USD 90-120 M Management estimates | S2N Data, BIS data | US Ped Risk Strat indication is
Slide 7: Strategic initiatives and milestones towards 2029
Strategic initiatives and milestones towards 2029 Phase I Phase II Phase III 2024 – Jun 2025 Jul 2025 – Dec 2026 2027- 2029 Pediatric Indication Approved Pediatric Instrument Expansion Clearance Adult Indication Executed (FDA|IVDR) Key Objectives: Key Objectives: Key Objectives: • Initiate usage in
Slide 8: Targeting USD +100 million revenue in 2029 and profitability by 2026
Targeting USD +100 million revenue in 2029 and profitability by 2026 • Revenue: USD +100m • Increasing profitability STRATEGIC & FINANCIAL Revenue • Cash flow positive OBJECTIVES Adj. EBITDA trendline Until 2026 - 4x 2024 revenue and build cash flow positive & EBITDA neutral operations by expanding
Slide 9: Financial results in Q1 2024
Financial results in Q1 2024
Slide 10: Total revenue increase by 18% in Q1 2024 (YoY)
Total revenue increase by 18% in Q1 2024 (YoY) driven by strong performance in NGAL tests Annual Revenue by Product Group* Revenue by Quarter* 2023 2024 NGAL Tests Antibodies Others 9,5 18.6 8,6 8,0 7,7 Q4 6,6 Q3 10.7 Q4 Q2 6.1 Q3 Q2 2.7 Q1 Q1 1.7 Q1 Q1 0.7 2023 2024 2023 2024 2023 2024 Q1 Q2 Q3 Q4
Slide 11: NGAL Test sales in the US up 80% and 27% globally YoY
NGAL Test sales in the US up 80% and 27% globally YoY NGAL test sales by Quarter (LTM, DKKm) • Strong performance and very satisfactory development in 20,4 19,8 sales of the NGAL Test in the 18,6 17,2 US for research use only. 16,0 +27% 14,9 13,5 13,9 13,5 13,6 • US interest is increasing 12,1 12,0
Slide 12: Adj. EBITDA level on par with last year – cost will be added in coming quarters
Adj. EBITDA level on par with last year – cost will be added in coming quarters Adjusted EBITDA and cash position (DKKm) • EBIT loss in Q1 2024 reduced Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 DKK 2.3 million compared to 85,4 last year. 69,9 66,4 • Adjusted EBITDA loss on par 57,7 due to severance co
Slide 13: Execution in Q1 2024
Execution in Q1 2024
Slide 14: Full focus on US commercial launch of ProNephro AKI (NGAL)
Full focus on US commercial launch of ProNephro AKI (NGAL) • Building knowledge of ProNephro AKI NGAL via intensified conference attendance and Grand Rounds with KOLs and MSLs. • Issuance of new papers to address clinical results and clarify usage of the test. • Expanding business development and sa
Slide 15: First Milestone on Expansion Strategy Secured
First Milestone on Expansion Strategy Secured • ProNehpro AKI NGAL was FDA cleared for marketing on Roche cobas c 501 analyzers - after final preparations, commercial launch will be in second half of 2024. • In February 2024, BioPorto and Roche expanded original global distribution to include Roche
Slide 16: Strong Momentum for Submission process of ProNephro AKI NGAL for adult use in US
Strong Momentum for Submission process of ProNephro AKI NGAL for adult use in US • In Q1 2024, BioPorto has initiated process for obtaining FDA clearance ProNephro AKI NGAL for General ICU Risk Assessment in adults - similar to pediatric indication. Solid process experience from pediatric process wi
Slide 17: New management team with strong in-vitro diagnostic track-record
New management team with strong in-vitro diagnostic track-record Peter Mørch Eriksen Gry Husby Larsen Jeffrey Haas To be appointed CEO CHIEF LEGAL OFFICER US-CEO CFO Nis Kruse Jennifer Zonderman Ursula Klause Asger Dahlgaard Tabari Baker George Rosa EVP, STRATEGIC SVP, GLOBAL MARKETING VP, RESEARCH
Slide 18: Execution on Phase I targets as planned
Execution on Phase I targets as planned Targets for period until Status after Q1 2024 Remaining part of 2024 mid-2025 Key Objectives: Status: Q2 2024: • Initiate usage in Pediatrics/young • Cooperation agreement with Roche • Expand sales of NGAL products and adults (US). expanded. prepare for US Pro
Slide 19: Financial Outlook for 2024
Financial Outlook for 2024
Slide 20: Capital increase to fund investment in Adult ProNephro AKI FDA submission
Capital increase to fund investment in Adult ProNephro AKI FDA submission • The Company received authority by AGM in April 2024 to issue new shares and anticipates to do so at two events in 2024 and 2025 with anticipated proceeds of approx. USD 20 million. • Proceeds will used in increased sales and
Slide 21: 2024 Financial Outlook
2024 Financial Outlook Key revenue drivers for Adj. EBITDA Revenue 30% growth DKK ~(80) Million DKK ~40 Million • Increased sales of NGAL, primarily in the US with halo effect in RoW. USD (11)-(13) Million USD 6 Million • Backend-loaded as Roche commercialization in US will be in second half of 2024
Slide 22: Q&A
Q&A Financial Calendar 2024 • August 15, 2024 Interim report, Q2 2024 • November 14, 2024 Interim report, Q3 2024