Orexo Ab · OMXSTO:ORX
Orexo Ab — Investor Day (October 2025)
19 slides from Orexo Ab's investor day presentation, Oct 8, 2025
Slide 1: A commercial-stage pharma company, developing drugs through cutting-edge drug delivery technologies
A commercial-stage pharma company, developing drugs through cutting-edge drug delivery technologies October 2025
Slide 2: Legal disclaimer
2 Legal disclaimer • This presentation, which is personal to the recipient, has been prepared and produced by Orexo AB (publ) (“Orexo”) solely for the benefit of investment analysis and may not be used for any purpose other than assessment of investments concerning Orexo. Unless otherwise stated, Or
Slide 3: Orexo in brief
3 Orexo in brief Comments Q2 Strong cash generation Net Revenue LTM 1 from lead product 30 years of experience Addresses unmet needs developing improved within opioid use disorder USD m 622.3 pharmaceuticals based on (OUD) and other areas proprietary drug delivery where our technologies can technolo
Slide 4: Commercial products and development pipeline
4 Commercial products and development pipeline Approved and/or Launched Product or Project/Indication/Technology Partners Exploratory Preclinical Clinical development phases Registration US EU RoW Zubsolv® Opioid Use Disorder (OUD) / Sublingual platform Commercial Abstral® Breaktrough Cancer Pain /
Slide 5: Commercial
5 Commercial Robust US commercial platform addressing the opioid crisis 5
Slide 6: Supporting people with OUD and saving lives in overdose crises
6 Supporting people with OUD and saving lives in overdose crises The unmet need in the US 5.9 m 51,000 the number of fatal overdoses are dependent on opioids1 caused by opioids annually2 2.3 m USD 1,500 bn are undergoing treatment1 The societal cost of the US opioid crisis3 Our approach Medication-A
Slide 7: Q2 2025: Improved growth in the bup/nal market
7 Q2 2025: Improved growth in the bup/nal market Buprenorphine/naloxone market development1 Market development by payer segment YoY NTRx Q2 YoY +4% • Medicaid segment growth stagnating at +1% following Q2 QoQ +3% Medicaid disenrollment • Commercial segment growth of +11% as patients 6 000 000 switch
Slide 8: AmorphOX
AmorphOX® The next-generation drug delivery technology unlocks a broad range of new opportunities in the development of innovative drugs
Slide 9: AmorphOX is a unique drug delivery technology
9 AmorphOX® is a unique drug delivery technology The challenge AmorphOX unique strengths Amorphous materials, commonly used in drug development, are rapidly absorbed but tend to be unstable limiting routes of administration, distribution and storage 1 AmorphOX unique properties ensure physical and c
Slide 10: The scalable AmorphOX platform takes Orexo beyond the OUD treatment area
10 The scalable AmorphOX® platform takes Orexo beyond the OUD treatment area Small Molecular weight (Mw) Large Small molecules Peptides Biologics Apomorphine Olanzapine Eletriptan Cetrorelix Semaglutide Enzyme Virus like Attenuated particle Virus Retained titer levels, Retained structure after Retai
Slide 11: Izipry (registration phase) – powder-based intranasal rescue medication for opioid overdose
11 Izipry (registration phase) – powder-based intranasal rescue medication for opioid overdose • Izipry, formulated with AmorphOX®, is designed to combat overdoses from synthetic opioids, which make up more than 90% of opioid overdose incidents. • Izipry includes naloxone in a powder form, enhancing
Slide 12: OX640 (clinical phase) – emergency treatment of allergic reactions, incl. anaphylaxis
12 OX640 (clinical phase) – emergency treatment of allergic reactions, incl. anaphylaxis • First line treatment today: intramuscular auto-injectors. In 2024 the first nasal product was approved in the US and EU which 1 can pave the way for transformative shift 2 • Differentiating properties • Superi
Slide 13: Early stage projects: AmorphOX and large molecules
Early stage projects: AmorphOX® and large molecules With Abera Bioscience an in-vivo proof-of-concept study In-vivo proof-of-concept study of was conducted for a nasal powder vaccine nasal semaglutide powders IgG Serum 1,6 1,4 AmorphOX formulations Antibody response 1,2 1 Oral tablet 0,8 0,6 0,4 0,2
Slide 14: NEWS: Orexo US awarded USD 8 m by BARDA for OX390 development partnership
14 NEWS: Orexo US awarded USD 8 m by BARDA for OX390 development partnership Valued up to USD 50 m and structured in five stages • OX390, today in pre-clinical stage, is specifically designed for adulterated overdoses where current treatments like naloxone or nalmefene are less effective • Addresses
Slide 15: Financial & legal
15 Financial & legal 15
Slide 16: YTD 2025 (Q2): Full-year financial forecast confirmed, incl. achieving positive EBITDA in 2025
16 YTD 2025 (Q2): Full-year financial forecast confirmed, incl. achieving positive EBITDA in 2025 Income statement Jan-Jun Jan-Jun FY FY Comments Q2 USD m 2025 2024 2024 2023 YTD 2025 developments & legal update ✓ Zubsolv US NR impacted negatively by a non-recurring rebate Net revenues (NR) 28.1 27.
Slide 17: Future value drivers
17 Future value drivers
Slide 18: Approach for expansion
18 Approach for expansion Maintain Zubsolv® revenue streams in USD Growing revenues & Obtain FDA approval and initiate US launch of Izipry profit contributions Achieve milestones and receive royalties from existing and upcoming partnered products. Improving Expand reimbursement of Zubsolv in
Slide 19: Thanks
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