Cogstate Ltd · ASX:CGS
Cogstate — Shareholder Meeting (October 2021)
17 slides from Cogstate's shareholder meeting presentation, Oct 27, 2021
Slide 1: 2021 Annual General Meeting Presentation
ASX Announcement 27 October 2021 For personal use only 2021 Annual General Meeting Presentation Cogstate (ASX.CGS) attaches its 2021 Annual General Meeting Presentation, being provided to shareholders at today’s meeting. This announcement was authorised for release by a sub-committee of the Board of
Slide 2: Annual General Meeting
For personal use only Annual General Meeting Wednesday 27 October 2021 Start time: 11am Australian eastern summer-time © 2021 Cogstate Ltd. All rights reserved.
Slide 3: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Cogstate Limited (‘Cogstate’). The information in this presentation is of a general nature and does not purport to be complete, nor does it contain all the information which would be required in a prospectus prepared in accordan
Slide 4: Board of Directors
Board of Directors For personal use only Martyn Myer Brad O’Connor Non-Executive Chairman Managing Director / CEO Member: Audit, Risk & Compliance Committee Chair: Remuneration & Nomination Committee David Dolby Richard Mohs Non-Executive Director Non-Executive Director Member: Remuneration & Nomina
Slide 5: Founding Vision
For personal use only Founding Vision To make assessment of brain health as simple, common and informative as assessment of blood pressure 3
Slide 6: Who is Eisai?
Who is Eisai? Tokyo listed, global pharma, A$31bn market cap For personal use only Exclusive license Eisai marketing Cogstate technology globally as a digital assessment of cognition Global License Commercial terms Agreement Up-front royalty US$15m Ongoing double-digit royalty on all revenue, not le
Slide 7: FDA Approval of Aduhelm
FDA Approval of Aduhelm For personal use only First ever disease modifying treatment of Alzheimer’s to be jointly marketed by Biogen and Eisai • Approved by FDA on 7 June 2021 • Also submitted applications to regulators in: • Europe (Announced Oct 2020) • Japan (Announced Dec 2020) Other late stage
Slide 8: Adapting to a global pandemic: Decentralised Clinical Trials
Adapting to a global pandemic: Decentralised Clinical Trials For personal use only 1 2 3 4 Dramatic Increase Permanent Change Ripe for disruption Patient centered Since the beginning of There will always be a Conventional clinical trials Not only are decentralised the pandemic, the whole place for t
Slide 9: FY21 Financial Highlights
FY21 Financial Highlights (All figures in US$) A return to profitability, a solid cash balance and improving outlook For personal use only Record clinical sales contracts executed Record contracted future revenue $47.3m $101.5m Alzheimer’s disease represented 65% of +15% the value of contracts execu
Slide 10: Clinical Trials Sales Contracts
Clinical Trials Sales Contracts 50 For personal use only 45 11.4 40 Record 1st Quarter 7.6 35 Landmark Sep quarter underpinned by a large phase 3 Alzheimer’s disease US$ Millions 30 9.5 13.3 trial. 25 392% increase from the same period 20 40.8 last year 15 17.5 14.3 86% of last year’s full-year resu
Slide 11: Group Revenue
Group Revenue For personal use only • 1Q22 revenue of $12.3m, up 99% from 1Q21 and 23% from 4Q21 • 1Q22 Clinical Trials revenue $11.1m, up 93% from 1Q21 and 26% from 4Q21 • 1Q22 Healthcare revenue $1.1m, up 255% from 1Q21 and flat compared to 4Q21 • Trailing 12-month revenue of $38.8m, up 57% from 1
Slide 12: Contracted Revenue Backlog
Contracted Revenue Backlog 140 $130m at 30-Sep-21 For personal use only 120 Contracted revenue backlog provides insight into future revenue 100 performance. Up 209% since last year (Sep-20) US$ Millions 80 Up 28% since last quarter (Jun-21) 60 Clinical Trials Backlog $88.0m 40 • Up 109% since last y
Slide 13: FY22 & FY23 Contracted Revenue
FY22 & FY23 Contracted Revenue FY22: Revenue under contract at 30-Sep-21 is $38.1m For personal use only 45.0 • Clinical Trials $33.9m (01-Jul-21: $24.5m) 40.0 • 1Q22 actual $11.1m 3.0 • 2Q22 – 4Q22 contracted $22.8m 35.0 • Healthcare $4.2m 30.0 4.1 • 1Q22 actual $1.2m US$ Millions 25.0 • 2Q22 – 4Q2
Slide 14: Macro Trends Positively Impacting Future Revenue
For personal use only 1. Breakthrough Alzheimer’s treatments expected to create demand for cognitive assessment in the community 2. Impending launch of Cogstate technology, by Eisai, in multiple countries to feed into that demand Macro Trends 3. Alzheimer’s R&D expected to increase over coming years
Slide 15: FY 2022 Outlook
Clinical Trials • Revenue under contract at 30-Sep-21 of $33.9m • Additional revenue will be generated from contracts executed 2Q22 – 4Q22 For personal use only • Expect FY22 contribution margin to remain consistent with FY’21 performance, allowing for investment in technology to support the shift t
Slide 16: Cogstate Investment Case
Cogstate Investment Case For personal use only Record revenue backlog with Significant leverage to an earnings leverage Alzheimer’s treatment • Aduhelm approval crystallises the opportunity • Momentum in Clinical Trials continues to build. • Other potential treatments from Eisai and Lilly • Eisai pa
Slide 17: For personal use only
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