Idorsia Ltd. · SIX:IDIA
Idorsia — FY2018 Earnings Presentation
22 slides from Idorsia's earnings presentation, Feb 7, 2019
Slide 1: Full Year 2018 Financial Reporting
Financial Reporting 20 FULL YEAR 18
Slide 2: Forward-looking statements
The following information contains certain “forward-looking statements”, relating to the company’s business, which can be identified by the use of forward-looking terminology such as “estimates”, “believes”, “expects”, “may”, “are expected to”, “will”, “will continue”, “should”, “would be”, “seeks”,
Slide 3: CEO quote: outstanding progress in 2018
“Idorsia has made outstanding progress with all of our strategic priorities in 2018. We are now so close to key results.” Jean-Paul Clozel Chief Executive Officer 3 Full Year 2018 Financial Reporting | February 7, 2019
Slide 4: 2018 Highlights
+ Advancing 2018 pipeline HIGHLIGHTS + Operational independence + Chief Commercial + Strengthened financing Officer 4 Full Year 2018 Financial Reporting | February 7, 2019
Slide 5: Our Strategic Priorities
Our Strategic Priorities 5 key priorities to ensure the company’s success 2 Build a commercial organization over the first 5 years 3 Bring Idorsia to profitability in a sustainable manner 1 Deliver at least three products to market 4 Create a pipeline with a sales potential of CHF 5 billion 5 Utiliz
Slide 6: More in the pipeline – Promising compounds
More in the pipeline – Insomnia Fabry disease Vasospasm ACT-541468 Promising compounds Dual orexin Lucerastat Glucosylceramide associated with receptor antagonist synthase inhibitor aneurysmal Diversified and balanced pipeline: Status: Phase 3 Resistant Status: Phase 3 subarachnoid CNS, cardiovascul
Slide 7: ACT-541468 in insomnia
ACT-541468 in insomnia A dual orexin receptor antagonist Phase 3 confirmatory program with the potential to deliver fast • 1,800 adult and elderly insomnia onset of sleep and a duration of patients action not exceeding a normal • 3 dose levels (10 mg, 25 and 50 mg) night, while preserving natural •
Slide 8: Lucerastat in Fabry disease
Lucerastat in Fabry disease A glucosylceramide synthase inhibitor, developed as an oral Phase 3 study monotherapy, offering a new • MODIFY – to assess effects of treatment approach for lucerastat on neuropathic pain and safety and tolerability patients living with Fabry • The study is expected to re
Slide 9: Clazosentan in cerebral vasospasm
Clazosentan in cerebral vasospasm A selective endothelin (ETA) receptor antagonist being developed as an intravenous infusion for the prevention of clinical deterioration due to vasospasm-related delayed cerebral ischemia following Phase 3 study aSAH • REACT – investigating the efficacy and safety o
Slide 10: Aprocitentan in resistant hypertension
Aprocitentan in resistant hypertension An orally active dual endothelin receptor antagonist, which is being Phase 3 study investigated for patients whose • Evaluating initial and long- term effects of hypertension is uncontrolled aprocitentan on systolic despite the use of three or more and diastoli
Slide 11: Cenerimod in systemic lupus erythematosus
Cenerimod in systemic lupus erythematosus A potent, selective sphingosine-1-phosphate receptor 1 (S1P1) modulator, which potentially offers a novel approach for systemic lupus erythematosus – a disease with Multiple-dose efficacy and safety study limited treatment options • Evaluating the treatment
Slide 12: Operational independence
Operational independence 12 Full Year 2018 Financial Reporting | February 7, 2019
Slide 13: Operational independence achieved in numbers
35,000 500 150 3 trial master files migrated laboratory PCs migrated servers deployed virtual data centers created 23,000 450 76 2 documents imported active clinical study terabytes of data on-premise server sites operating on migrated rooms implemented a state-of-the-art system 1,300 300 40 1 user
Slide 14: Chief Commercial Officer quote
“I have been struck by the enthusiasm and passion of the people and the quality of the science I have experienced at Idorsia.” Simon Jose Chief Commercial Officer 14 Full Year 2018 Financial Reporting | February 7, 2019
Slide 15: CFO quote on diverse pipeline
“Our diverse pipeline of unique assets offers significant potential to patients and investors alike.” André C. Muller Chief Financial Officer 15 Full Year 2018 Financial Reporting | February 7, 2019
Slide 16: Operating results
Operating results 20 FULL YEAR 18 Non-GAAP US-GAAP Financial results as of Dec 31, 2018 16 Full Year 2018 Financial Reporting | February 7, 2019
Slide 17: Net results
Net results 20 FULL YEAR 18 Non-GAAP -339 -340 US-GAAP -33 -47 -371 -17 -386 Operating results Financial results Income Tax results Non-Controlling Net results Interests Financial results as of Dec 31, 2018 17 Full Year 2018 Financial Reporting | February 7, 2019
Slide 18: Free cash flow
Free cash flow 404 129 20 FULL YEAR 18 505 505 Cash raise Working capital 11 25 14 requirements -61 -77 -11 -116 -111 Funds from -3 -3 -12 operations -10 -9 -74 -69 -365 Capex / other -132 -25 Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Financial results as of Dec 31, 2018 18 Full Year 2018 Financial Re
Slide 19: Liquidity
Liquidity 20 FULL YEAR 1,351 18 1,220 1,091 Cash deposits 548 298 > 12 months 250 123 Cash deposits 218 132 < 12 months 799 Cash and 671 cash equivalents 622 Liquidity @ Liquidity @ Liquidity @ Dec 31, 2017 Sep 30, 2018 Dec 31, 2018 Financial results as of Dec 31, 2018 19 Full Year 2018 Financial Re
Slide 20: Cash raise in July 2018
Cash raise in July 2018 20 FULL YEAR 18 CHF 505 million raised Impact on share count 157.8 +17.8 m 175.6 + 5.9 m 44.6 38.7 Convertible Bond Equity derivatives CHF 200 million + 11.9 m Issued common shares 131.0 119.1 New registered shares CHF 305 million @ Dec 31, 2017 @ Jul 31, 2018 20 Full Year 20
Slide 21: Financial Guidance for 2019
Financial Guidance 20 for 2019 FULL YEAR 18 Unforeseen events excluded, US GAAP operating expenses of around CHF 570 million and non-GAAP operating expenses of around CHF 530 million (both measures excluding any potential milestone payments). + + + ++ + 21 Full Year 2018 Financial Reporting | Februa
Slide 22: Our Strategic Priorities
Our Strategic Priorities 5 key priorities to ensure the company’s success 2 Build a commercial organization over the first 5 years 3 Bring Idorsia to profitability in a sustainable manner 1 Deliver at least three products to market 4 Create a pipeline with a sales potential of CHF 5 billion 5 Utiliz