Bioporto A/s · OMXCOP:BIOPOR
Bioporto A/s — Q1 2023 Earnings Presentation
17 slides from Bioporto A/s's earnings presentation, May 10, 2023
Slide 1: Empowering Early Detection of Kidney Injury
Empowering Early Detection of Kidney Injury 2023-Q1 Financial Results & Business Update May 10, 2023 © Copyright BioPorto | 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements References herein to this presentation shall mean and include this document, any oral presentation accompanying this document provided by BioPorto A/S (the “Company” or “BioPorto”), and any further information that may be made available in connection with the subject matte
Slide 3: Highlights from Q1 2023
Highlights from Q1 2023 • Solid financial performance – Quarterly revenue of DKK 8M, a 24% increase over Q1 2022 • Engaged with FDA on De Novo application for marketing clearance of NGAL test for pediatric patients • Hired resources to promote and sell in approved markets • Cash and cash equivalents
Slide 4: Acute Kidney Injury (AKI) leads to poor outcomes if untreated
Acute Kidney Injury (AKI) leads to poor outcomes if untreated An abrupt loss of kidney function that develops rapidly over a few hours or days Progression of AKI Reduced Normal Increased Risk Damage Kidney Kidney Failure Death Function • Cardiac Surgery • Mechanical Ventilation • Transplant • Sepsis
Slide 5: AKI - an unmet clinical need for early diagnosis
AKI - an unmet clinical need for early diagnosis AKI is Common & Costly Serum Creatinine Value of Early Identification eAlert + biomarkers7 • 1 in 5 adults1 and • 2-3 days delayed response • higher rate of AKI recovery 1 in 4 children2 (+22%) • 13.3 million per year • confounded by age, muscle mass,
Slide 6: NGAL proteins as early markers of kidney injury
NGAL proteins expressed by the kidney as part of its normal function Elevated NGAL levels are indicative of early-stage Acute Kidney Injury Undamaged Injury Adequate Filtration Reduced Filtration Normal NGAL NGAL within 2 hours (reliable to rule out kidney damage) (early, reliable to rule in kidney
Slide 7: NGAL testing saves lives by detecting AKI earlier
NGAL testing saves lives by detecting AKI earlier Empowers clinicians to manage fluids & nephrotoxic drugs, and determine if dialysis is needed • Clinical chemistry reagent product • Run on standard clinical chemistry instruments that are in use in all hospital core labs © Copyright BioPorto | 7
Slide 8: Value of Early Detection
Value of Early Detection • higher rate of kidney recovery • more dialysis-free days • shorter ICU/hospital stays • reduction in Stage 2/3 AKI • reduction in persistent AKI • earlier nephrology follow-up SOURCE: Halmy Journal of Clinical Medicine 2021 improves patient outcomes and quality of life © C
Slide 9: US Market: Initial FDA Clearance for Pediatric Patients
US Market: Initial FDA Clearance for Pediatric Patients We will establish a beachhead in the US market focused on testing pediatric patients • Currently, 30+ US hospitals utilize the RUO NGAL test clinically as a Lab Developed Test (LDT) • Achieved Breakthrough Status with the FDA due to the signifi
Slide 10: Drive Europe Sales, Gain FDA Approval, Reduce Costs
Drive Europe Sales, Gain FDA Approval, Reduce Costs Drive NGAL Test Market Strengthen the Company to Attract, Develop & Retain Adoption & Have a Pipeline Scale & Execute the Best and Brightest of High Medical Value Employees Aligned with our Products Values • Support FDA approval of NGAL assay for •
Slide 11: Physician testimonial on NGAL
“I have never had to practice medicine without NGAL and would not move to an institution that does not use NGAL in their Pediatric Intensive Care Unit.” Natalja L. Stanski, MD © Copyright BioPorto | 11
Slide 12: BioPorto Q1 2023 Revenue: DKKm 8.0, up 24% YTD over Q1 2022
BioPorto Q1 2023 Revenue: DKKm 8.0, up 24% YTD over Q1 2022 Annual Revenue by Product Group* Revenue by Quarter* 2022 2023 NGAL Tests Antibodies Others 8.0 14.9 12.0 6.5 Q4 Q4 Q3 Q3 Q2 4.8 Q2 2.8 2.1 Q1 Q1 Q1 Q1 0.4 2022 2023 2022 2023 2022 2023 Q1 * all amounts in DKKm © Copyright BioPorto | 12
Slide 13: NGAL test sales up 15% on LTM basis
NGAL test sales up 15% on LTM basis NGAL test sales by Quarter (LTM, DKKm) +68% NGAL 16.0 Global NGAL 15% XX% 14.9 13.714.1 13.913.513.6 13.413.5 12.112.012.4 11.3 10.5 9.4 9.5 Growth in YTD global NGAL test sales vs. the previous last twelve months © Copyright BioPorto | 13
Slide 14: Cash position and working capital management
Cash position and working capital management Adjusted EBITDA and cash position (DKKm) • Q1 2023 cash burn from operations: Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 DKKm 26.1, a planned 59% increase vs. 107.9 Q1 2022, primarily reflecting timing of Adj. EBITDA 98.9 clinical trial costs and incremental
Slide 15: 2023 Reiterated Outlook
2023 Reiterated Outlook Amounts in millions of Danish Kroner and US Dollars1 Actual at 2023 Outlook March 31, 2023 Revenue Cash2 Adj. EBITDA loss DKK 30-33 DKK (60)-(65) DKK 58 $4.4-4.8 $(8.8)-(9.5) $8.4 1All Financial Figures Converted from DKK to USD at a rate of 6.8492:1 as of March 31, 2023. 2Un
Slide 16: NGAL Tests in use at Boston Children's Hospital
NGAL Tests in use at Boston Children’s Hospital © Copyright BioPorto | 16
Slide 17: Investor Relations Contacts
Investor Relations Contacts CPH:BIOPOR EU: Tim Eriksen US: Ashley Robinson Managing Partner Managing Director Zenith Advisory LifeSci Advisors investor@bioporto.com arr@lifesciadvisors.com +45 4529 0000 +1 617 430 7577 © Copyright BioPorto | 17