Acrux Limited · ASX:ACR
Acrux — Shareholder Meeting (November 2016)
24 slides from Acrux's shareholder meeting presentation, Nov 10, 2016
Slide 1: Acrux Annual General Meeting 2016
For personal use only Acrux (ASX: ACR) Annual General Meeting 10 November, 2016 1 Acrux AGM 2016
Slide 2: Introduction: Ross Dobinson, Non-Executive Chairman
Introduction: Ross Dobinson Non-Executive Chairman For personal use only 2
Slide 3: Company review: Michael Kotsanis
Company review: Michael Kotsanis CEO & Managing Director For personal use only 3
Slide 4: Forward looking statements
For personal use only Forward looking statements This presentation includes forward-looking statements that are subject to risks and uncertainties. Such statements involve known and unknown risks and important factors that may cause the actual results, performance or achievements of Acrux to be mate
Slide 5: Axiron IP outcome
Axiron® IP outcome For personal use only • United States District Court for the Southern District of Indiana judgment • Formulation and axilla application patents granted by the US Patent Office for Axiron® have been invalidated • Patents therefore would not be infringed by the commercialisation of
Slide 6: FY 2016 outcomes
FY 2016 outcomes For personal use only Revenue 2016: $28.6 million 2015: $25.4 million Net Profit After 2016: $13.0 million Tax 2015: $11.1 million Cash 2016: $29.4 million 2015: $23.1 million Product approval Lenzetto approved in European Union in 1H FY16 Milestones received 1H FY16 Lenzetto launch
Slide 7: Finance review: Tim Bateman
Finance review: Tim Bateman CFO & Company Secretary For personal use only 7
Slide 8: Full year earnings
Full year earnings For personal use only 2015/16 2014/15 % Royalty revenue largely comprises Axiron Royalty 25,469 24,639 3.4% revenue $25.5M Milestone 2,540 - n/a Milestone income reflects multiple Other revenue 548 729 -24.8% marketing approvals of Lenzetto in the Revenue 28,557 25,368 12.6% Europ
Slide 9: Full year cash flow
Full year cash flow For personal use only 2015/16 2014/15 % Royalties received 25,668 25,203 1.8% Milestones received 2,540 - n/a Cash received from conduct of business Interest received 515 639 (19.4%) activities $28.7M, up 11% over prior year due to milestones on Lenzetto Other income received - 2
Slide 10: Company review: Michael Kotsanis
Company review: Michael Kotsanis CEO & Managing Director For personal use only 10
Slide 11: Axiron volume and market share
Axiron volume and market share Axiron Quarterly Net Sales • Axiron market share remains 60 consistent at approximately 14% For personal use only 50 • US District Court decision allows 40 Watson (Teva) generic to launch USD $M 30 • A generic launch will impact Axiron 20 sales 10 • US District Court d
Slide 12: Lenzetto (estradiol) spray launched in Europe
Lenzetto® (estradiol) spray Launched in Europe For personal use only • Lenzetto® is a hormone replacement therapy for women • Lenzetto® has been launched in a number of territories since January 2016, through our licensee Gedeon Richter, including Germany, Hungary and Romania • Progressive European
Slide 13: Growth Strategy
Growth Strategy For personal use only Acrux is building a sustainable business model with a broader portfolio which leverages its existing topical expertise in compelling market segments How: Core competency – utilise current Measures of success: technology, skills and capabilities Portfolio wit
Slide 14: Total US pharma market size
Total US pharma market size For personal use only Aerosol Powders Other Topical • Oral market exceeds $200 billion Liquids • Injectable market exceeds $130 billion • Both oral and injectable markets are heavily competitive. • Topical transdermal market is Oral relatively small at under $20 billion I
Slide 15: Topical Generic Portfolio
Topical Generic Portfolio For personal use only • First three generic formulations US Transdermal and Topical market size completed. CMO selection underway US$8.5 billion • Topically applied generic products in Generic market commercially attractive market segments sector Initial Acrux • Reduced dev
Slide 16: Acrux antifungal development
Acrux antifungal development Onychomycosis For personal use only Indication For treatment of fungal infection (onychomycosis) of toenails and fingernails Formulation and intellectual property • Solution for topical administration • Improved formulation of efinaconazole selected • New patent has been
Slide 17: Future milestones
Future milestones For personal use only • Draft and submit patent application for ACR065 for onychomycosis • Gedeon Richter to continue country specific launches of Lenzetto in the European Union • Scale up activities to manufacture exhibit batches for initial generic products • Contract manufacturi
Slide 18: Formal Business: Ross Dobinson
Formal Business: Ross Dobinson Non-Executive Chairman For personal use only 18
Slide 19: Resolution: Adoption of Remuneration Report
Resolution 1 For personal use only Adoption of Remuneration Report Proxy votes received prior to the meeting are as follows: For 33,645,905 votes 90.2 % of available votes Open 805,886 votes 2.2 % of available votes Against 2,845,171 votes 7.6 % of available votes 19 Acrux AGM 2016
Slide 20: Resolution: Re-election of Ross Dobinson
Resolution 2 For personal use only Re-election of Ross Dobinson as Director Proxy votes received prior to the meeting are as follows: For 35,304,738 votes 93.8 % of available votes Open 892,921 votes 2.4 % of available votes Against 1,447,959 votes 3.8 % of available votes 20 Acrux AGM 2016
Slide 21: Resolution: Re-election of Timothy Oldham
Resolution 3 For personal use only Re-election of Timothy Oldham as Director Proxy votes received prior to the meeting are as follows: For 34,529,037 votes 91.7 % of available votes Open 1,863,046 votes 5.0 % of available votes Against 1,253,535 votes 3.3 % of available votes 21 Acrux AGM 2016
Slide 22: Resolution: Election of Simon Green
Resolution 4 For personal use only Election of Simon Green as Director Proxy votes received prior to the meeting are as follows: For 34,609,474 votes 91.9 % of available votes Open 1,863,046 votes 5.0 % of available votes Against 1,168,598 votes 3.1 % of available votes 22 Acrux AGM 2016
Slide 23: Resolution: Election of Geoffrey Brooke
Resolution 5 For personal use only Election of Geoffrey Brooke as Director Proxy votes received prior to the meeting are as follows: For 34,175,026 votes 90.8 % of available votes Open 2,041,446 votes 5.4 % of available votes Against 1,413,596 votes 3.8 % of available votes 23 Acrux AGM 2016
Slide 24: For personal use only
For personal use only Acrux AGM 2016 24