Lumos Diagnostics Holdings Ltd. · ASX:LDX
Lumos Diagnostics — Investor Presentation (June 2022)
32 slides from Lumos Diagnostics's investor presentation, Jun 6, 2022
Slide 1: Lumos Diagnostics Holdings Limited Capital Raising
For personal use only Lumos Diagnostics Holdings Limited Capital Raising 6 June 2022 Lumos Diagnostics Holdings Limited ACN 630 476 970 www.lumosdiagnostics.com © Lumos Diagnostics™. All rights reserved. 1
Slide 2: Important notice and disclaimer
Important notice and disclaimer For personal use only This investor presentation (Presentation) is dated 6 June 2022 and has been prepared by Lumos Diagnostics Holdings Limited (ACN 630 476 970) (Lumos or the Company). By attending an investor presentation or briefing, or accepting, accessing or rev
Slide 3: Important notice and disclaimer
Important notice and disclaimer For personal use only Past performance Past performance, including past share price performance of Lumos and pro forma financial information given in this Presentation, is given for illustrative purposes only and should not be relied upon as (and is not) an indication
Slide 4: Executive Summary
Executive Summary For personal use only • As announced on 11 April 2022, Lumos Diagnostics Holdings Limited (‘Lumos’ or the ‘Company’) initiated a cost reduction program targeting a reduction in Lumos’ operating cash burn to under US$1.0 million per month by the end of FY22. This has included: Q3 FY
Slide 5: For personal use only
For personal use only Company Update
Slide 6: Services and Operations
Services and Operations For personal use only • Lumos has undertaken a restructure and cost reduction program1: - Company had scaled capacity and personnel ahead of near-term requirements; - Utilization of new manufacturing capacity has been modest – client projects have not transitioned as expected
Slide 7: Company Restructure – Update and Impact
Company Restructure – Update and Impact For personal use only • Organisational Restructure Completed in May 2022 - Recent key C-suite appointments: Sam Lanyon as interim CEO and Barrie Lambert as CFO; Function FTEs - Headcount reduced by 55% from 124 to 55 FTEs: Sales and Marketing 9 • This provides
Slide 8: Highly Experienced Diagnostics Executive Appointed as CEO
Highly Experienced Diagnostics Executive Appointed as CEO For personal use only • Background - Extensive industry-wide executive search by Egon Zhender which included candidates from Board and advisors networks. • Introducing Doug Ward - 30+ year career in Diagnostics and Life Sciences industries ac
Slide 9: Focused Business Plan
For personal use only Focused Business Plan © Lumos Diagnostics™. All rights reserved. 9
Slide 10: FebriDx – U.S. Regulatory Update
FebriDx® – U.S. Regulatory Update For personal use only • Regulatory clearance for FebriDx in the U.S. by the FDA has taken much longer than the Company expected: - Clinical and performance data requirements for the FDA have changed over the course of the pandemic; - Lumos has responded to these evo
Slide 11: FebriDx – U.S. Commercial Launch Plans
FebriDx – U.S. Commercial Launch Plans For personal use only • Lumos is prepared and ready for the U.S. commercial launch of FebriDx subject to receiving clearance from the FDA: - Key initial target primary and urgent care sites already identified: • All initial target sites are ‘moderate complexity
Slide 12: FebriDx Recap: Essential Diagnostics Tool
FebriDx Recap: Essential Diagnostics Tool For personal use only Clinicians cannot readily differentiate between bacterial and viral infections based on patient symptoms alone. FebriDx has the potential to become an essential part of a doctor’s diagnostics toolkit. Unmet diagnostic requirement Antibi
Slide 13: ViraDx North American Opportunities
ViraDx™ North American Opportunities For personal use only • Regulatory applications for ViraDx under review in the U.S. and Canada: - ViraDx is a three-in-one COVID-19/Flu A/Flu B test for use by healthcare professionals. - Applications for Emergency Use Authorisation (EUA) in the U.S. and Interim
Slide 14: CoviDx potential opportunities in the wings
CoviDx™ potential opportunities in the wings For personal use only • Lumos has the potential to capitalise on specific opportunities in the Canadian market using existing inventory: - minimal investment in sales effort – using distributors or direct sales to a few, select potential customers; - pote
Slide 15: Near term opportunities and potential value drivers
Near term opportunities and potential value drivers For personal use only • Outcome of FDA 510(k) application expected in coming months (clearance and CLIA status) Core Assets / Key Focus FebriDx • Initial launch customers identified (primary and urgent care) – reimbursement and CLIA independent • R
Slide 16: Capital Raising
For personal use only Capital Raising
Slide 17: Capital Raising Details
Capital Raising Details For personal use only • Equity raising of a fully underwritten 1 for 2.55 pro rata accelerated non-renounceable entitlement offer to eligible existing shareholders of Structure approximately 59.1m New Shares to raise approximately A$11.2m (Entitlement Offer), (together with t
Slide 18: Capital Raising Details (cont..)
Capital Raising Details (cont..) For personal use only • The Institutional Entitlement Offer will be open on Monday, 6 June 2022 and closes at 12pm on Tuesday, 7 June 2022 • The Institutional Entitlement Offer will be open to eligible institutional holders in Australia, New Zealand, the United Kingd
Slide 19: Expected use of funds
Expected use of funds For personal use only • Lumos expects to have pro-forma net cash as at 30 April 2022 Sources of funds1,2 (US$ million) of approximately US$12.4 million1,2 post completion of the Proceeds of Entitlement Offer 7.9 Entitlement Offer, after paying the costs of the offer. Cash at ba
Slide 20: Timetable
Timetable For personal use only Event1 2022 Announcement of the Entitlement Offer Monday, 6 June Institutional Entitlement Offer Monday, 6 June – Tuesday, 7 June Announcement of results of Institutional Entitlement Offer Wednesday, 8 June Trading halt lifted and Shares recommence trading Wednesday,
Slide 21: Summary pro-forma balance sheet
For personal use only Summary pro-forma balance sheet
Slide 22: Summary pro-forma balance sheet
Summary pro-forma balance sheet For personal use only 30-Apr-22 Impact of 30-Apr-22 US$m (Unaudited) equity raising1,2 Pro-forma Cash and cash equivalents 5.0 7.4 12.4 Other current assets 13.6 13.6 Total Current Assets 18.6 7.4 26.0 Total Non-Current Assets 42.4 42.4 Total Assets 61.0 7.4 68.4 Tota
Slide 23: Key Risks
For personal use only Key Risks
Slide 24: Key risks
Key risks For personal use only This section discloses some of the key risks attaching to an investment in Lumos. Before investing or increasing your investment in Lumos, you should consider whether this investment is suitable for you having regard to publicly available information and your personal
Slide 25: Key risks cont.
Key risks cont. For personal use only • Production / Manufacturing Risks: Lumos’ manufacturing facilities in Sarasota, Florida and Carlsbad, California are exposed to risks of harm, including those caused by man-made or natural disasters like earthquakes or fires, or human error, which may result in
Slide 26: Key risks cont.
Key risks cont. • Reimbursement and Coverage: The significant adoption of tests (including those offered by Lumos) requires either government payment or third-party reimbursement payments including For personal use only governmental payers (such as the Medicare and Medicaid programs in the U.S.), ma
Slide 27: Key risks cont.
Key risks cont. For personal use only • New Product Development Pipeline: Lumos’ commercial success is dependent on the continued advancement of existing products and the generation and acceptance of new products that utilise Lumos’ technology through its investment in research and development. Deve
Slide 28: Appendix – Foreign Selling Restrictions
For personal use only Appendix – Foreign Selling Restrictions © Lumos Diagnostics™. All rights reserved. 28
Slide 29: Offer jurisdiction & disclaimers
Offer jurisdiction & disclaimers For personal use only Hong Kong • WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, nor has it been authorised by the Securities and Futures
Slide 30: Glossary
For personal use only Glossary © Lumos Diagnostics™. All rights reserved. 30
Slide 31: Glossary
Glossary For personal use only • ASIC means the Australian Securities and Investments Commission. • IVD means in vitro diagnostics. • ASX means ASX Limited ACN 008 624 691 or the financial market known as the 'Australian Securities • MDSAP means Medical Devise Single Audit Program. Exchange' operate
Slide 32: For personal use only
For personal use only www.lumosdiagnostics.com © Lumos Diagnostics™. All rights reserved. 32
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