Camurus Ab · OMXSTO:CAMX
Camurus Ab — Q1 2024 Earnings Presentation
24 slides from Camurus Ab's earnings presentation, May 8, 2024
Slide 1: First quarter 2024 results
First quarter 2024 results Audiocast presentation 8 May 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 Corporate development Commercial execution Advancing R&D pipeline Revenue increased 37% YoY to Strengthened leadership in opioid US and EU regulatory submissions SEK 390 million dependence treatment for CAM2029 in acromegaly Profit before tax
Slide 6: Financial performance
camurus, — Financial performance SF
Slide 7: Revenue growth and profit improvement
7 Revenue growth and profit improvement Revenue Profit before tax MSEK MSEK 97 400 390 100 Cash position +26% SEK 2,274 million +37%* 300 284 77 +288% vs Q1 2023 75 220 Q1 200 50 100 25 4 0 0 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Product sales Other revenues *cf. mid-point full year 2024 g
Slide 8: Reported Q1 profit and loss
8 Reported Q1 profit and loss CER MSEK Oct – Dec Change Change 2023 vs. 2023 vs. 2023 Total revenues 390 +37% +38% out of which milestones Gross margin 359 +222bps +267bps % GM excl. milestones 92,1% Marketing and distribution costs -93 +23% +22% Administrative expenses -16 +73% +73% Research and de
Slide 9: Strong positive cash flow
9 Strong positive cash flow MSEK 1026 22 -1 2274 FY 2024 guidance reiterated Revenue SEK 1,740 – 1,860 million + 33 – 42% vs. 2023 excluding one-time milestones revenues 139 -102 Profit before tax 1190 SEK 330 – 450 million + 131 – 215% vs. 2023 excluding Cash Operating Working Directed ESOP 21/24 O
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 Q1 2024: SEK 364 million; +29% YoY MSEK • Quarter-on-quarter growth invoiced sales 0% (3% at CER1) 400 366 364 • Underlying in-market growth approx. 5% in the quarter 350 346 3%
Slide 12: Accelerated growth of Brixadi in the US
12 Accelerated growth of Brixadi in the US •Braeburn responsible for US commercialization •Brixadi royalty by quarter ‒ Focused commercial organization of over 100 people MSEK 30 •Wide access to Brixadi for the treatment of OUD 26 ‒ High payer coverage – on par with competition for both 25 Medicaid
Slide 13: Growing scientific evidence base
13 Growing scientific evidence base Recent key publications1-3 Selected scientific conference participation in 2024 Q1/Q2 2024 Q3/Q4 2024 International ASAM ALBATROS CPDD ISAM Lisbon Addict. 4-7 Apr 4-6 Jun 16-19 Jun 5-8 Sep 23-25 Oct Dallas, US Paris, FR Montreal, CAN Istanbul, Turkey Lisbon, PT EU
Slide 14: R&D update
camurus. R&D update
Slide 15: Octreotide SC depot
15 Octreotide SC depot CAM2029 under development in three serious, rare disease indications • Acromegaly • Gastroenteropancreatic neuroendocrine tumors (GEP-NET) • Polycystic liver disease (PLD) •Designed for enhanced efficacy, patient convenience and quality of life
Slide 16: Status overview of CAM2029 programs by indication
16 Status overview of CAM2029 programs by indication 21 Oct 2024 NDA filing MAA filing NDA approval 1 Phase 3 RCT ACRO US ACRO EU decision ACRO 5 completed Phase 1 and 2 clinical trials 2 Phase 3 LST Study continuation characterizing Est. NDA filing PK, PD and Fully recruited GEP-NET safety in healt
Slide 17: CAM2029 progressing towards market with upcoming key milestones 2024/25
17 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 18: Building US infrastructure for Oclaiz launch
18 Building US infrastructure for Oclaiz™ launch Estimated ~ $1.5 billion market opportunity Key activities • US office established in Princeton, New Jersey • President Camurus US, Behshad Sheldon • Key positions onboarded • In-depth market research • High medical affairs activity • Payor engagement
Slide 19: Dissemination of CAM2029 scientific data
19 Dissemination of CAM2029 scientific data Participation at international meetings Key scientific conferences in 2024 • ACROINNOVA 1 topline results presented at ICE1 Q1 2024 Q2 2024 Q3 2024 Q4 2024 • SORENTO study update provided at ENETS2 ICE AACE ENDO ENEA NANETS • Multiple presentations (oral,
Slide 20: Solid execution towards our 2024 goals
20 Solid execution towards our 2024 goals Revenue and profitability in line with full year guidance Robust in-market growth for Buvidal and strong momentum for Brixadi® in the US Oclaiz™ NDA in acromegaly under FDA review with PDUFA date 21 October 2024 Significant progress in late and early-stage p
Slide 21: Q&A
camurus. O&A
Slide 22: Shareholders and analyst coverage
22 Shareholders and analyst coverage Shareholders as of 30 April 2024 Number of shares % of capital % of votes Sandberg Development AB 21,875,692 38.0 38.0 Fjärde AP-fonden 2,610,766 4.5 4.5 Analysts Avanza Pension 1,835,773 3.2 3.2 Carnegie Swedbank Robur Fonder 1,799,360 3.1 3.1 Erik Hultgård Fred
Slide 23: Experienced and committed management team
23 Experienced and committed management team Fredrik Tiberg, PhD Education: M.Sc. in Chem. Eng., Lund Institute of Technology, PhD Jon Garay Alonso Education: Bachelor in Business Administration by Universidad President & CEO, CSO and Assoc. Prof. Physical Chemistry, Lund University. Chief Financial
Slide 24: Broad and diversified product portfolio and pipeline
24 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