Photocure ASA · OSL:PHO
Photocure ASA — Q2 2016 Earnings Presentation
18 slides from Photocure ASA's earnings presentation, Aug 23, 2016
Slide 1: Building a Specialty Pharma Company: Results for Second Quarter and First Half 2016
PHOTOCURE ASA BUILDING A SPECIALTY PHARMA COMPANY RESULTS FOR SECOND QUARTER AND FIRST HALF YEAR 2016 23 AUGUST 2016 Kjetil Hestdal, MD, President & CEO Erik Dahl, CFO
Slide 2: Disclaimer
DISCLAIMER The information included in this Presentation contains certain forward-looking statements that address activities, events or developments that Photocure ASA (“the Company”) expects, projects, believes or anticipates will or may occur in the future. These statements are based on various as
Slide 3: Delivering on Key Objectives
DELIVERING ON KEY OBJECTIVES KEY OBJECTIVES 2Q/1H2016 KEY ACHIEVEMENTS • Hexvix/Cysview global in-market volume • Increase Hexvix/Cysview global in-market unit sales increased YoY 6% growth rate • Hexvix/Cysview in-market value increased YoY 19% to NOK 124 million • BLC with Cysview recommended in n
Slide 4: Commercial Update
Commercial Update
Slide 5: Hexvix/Cysview a Significant Global Specialty Brand
HEXVIX/CYSVIEW A SIGNIFICANT GLOBAL SPECIALTY BRAND Global in-market unit sales (by Q) • Value of in-market sales of Hexvix/Cysview in the quarter increased YoY 18% to NOK 63 million. Year to date at NOK 124 million (+19%) • Hexvix/Cysview global in-market volume increased YoY 6% in the quarter and
Slide 6: Hexvix/Cysview Provides Clinical Benefits
HEXVIX/CYSVIEW PROVIDES CLINICAL BENEFITS • Use of Blue Light Cystoscopy with Cysview/Hexvix recommended in the new AUA/SUO bladder cancer guideline – Recommended based on the large body of evidence supporting both increased detection and reduced recurrence of non-muscle invasive bladder cancer • Ne
Slide 7: Hexvix/Cysview Solid Performance in Nordics and USA
HEXVIX/CYSVIEW SOLID PERFORMANCE IN NORDICS AND USA • Photocure own sales revenue in the US and Nordics increased YoY 12% in the quarter and 24% year to date to Own Hexvix/Cysview in-market unit sales NOK 35.4 million Nordic and US • US revenue increased year to date YoY 42% – Driven by YoY in-marke
Slide 8: Hexvix/Cysview Partner Progress
HEXVIX/CYSVIEW PARTNER PROGRESS • Partner revenue increased YoY 26% in the quarter and 20% year to date to NOK 32.3 million Hexvix Partner Unit Sales Per Quarter • End user YoY volume growth 7% in the quarter and 5% year to date • New territories & partners – BioSyent Pharma in Canada • Expect comme
Slide 9: Pipeline Update
Pipeline Update
Slide 10: Hexvix/Cysview Expanding into the Surveillance Segment
HEXVIX/CYSVIEW EXPANDING INTO THE SURVEILLANCE SEGMENT • Surveillance following initial diagnosis represents a significant growth opportunity of 2-3 times current TURB segment • Patient enrollment in Hexvix/Cysview Phase 3 market expansion progressing according to plan • >50% of required patients en
Slide 11: Cevira & Visonac Phase 3 Ready Products with Significant Sales Potential
CEVIRA & VISONAC PHASE 3 READY PRODUCTS WITH SIGNIFICANT SALES POTENTIAL • Cevira - Breakthrough single use and fully integrated drug-device technology to satisfy high need for novel non-surgical therapies to treat global epidemic of HPV/HSIL populations • Visonac – Novel topical non-antibiotic/non-
Slide 12: Financials
Financials
Slide 13: Segments Second Quarter 2016
SEGMENTS SECOND QUARTER 2016 MNOK Q2 '16 YTD '16 YTD '15 Commercial franchise: Commercial Franchise • Continued revenue growth for Nordic revenues 10,6 20,7 18,2 Hexvix/Cysview, YoY quarter growth 18%, US revenues 7,1 14,7 10,3 year to date 22% (in constant FX: 12%) Partner revenues 16,5 32,3 27,0 H
Slide 14: Profit & Loss Second Quarter 2016
PROFIT & LOSS SECOND QUARTER 2016 MNOK Q2 '16 YTD '16 YTD '15 • Total revenue increase YoY 9% year to Hexvix / Cysview revenues 34,2 67,7 55,6 date Other sales revenues (API) 0,0 0,0 4,3 Signing fees and milestones 1,3 2,6 4,5 – Negatively impacted by sales of API Total revenues 35,5 70,3 64,4 and r
Slide 15: Cash Flow Second Quarter 2016
CASH FLOW SECOND QUARTER 2016 MNOK Q2 '16 YTD '16 YTD '15 Cash flow from: - Operations -12,8 -22,1 -14,4 - Investments -3,1 -8,3 -5,1 - Financing -0,2 0,7 0,9 Net change in cash -16,2 -29,6 -18,6 Ending cash balance 104,4 104,4 146,7 • Year to date cash flow from operations at NOK -22.1 million (pri
Slide 16: Balance Sheet per June 2016
BALANCE SHEET PER 30 JUNE 2016 • Non current assets include NOK MNOK 30.06 31.12 20.7 million in investments in 2016 2015 tangible and intangible assets, NOK Non-current assets 77,4 43,6 7.9 million in shares in PCI Biotech Inventory & receivables 80,1 70,4 and deferred tax asset of NOK 48.9 Cash &
Slide 17: Outlook
Outlook
Slide 18: Delivering on Key Objectives
DELIVERING ON KEY OBJECTIVES KEY OBJECTIVES 2Q/1H2016 KEY ACHIEVEMENTS • Hexvix/Cysview global in-market volume • Increase Hexvix/Cysview global in-market unit sales increased YoY 6% growth rate • Hexvix/Cysview in-market value increased YoY 19% to NOK 124 million • BLC with Cysview recommended in n