Slide 1: Third quarter 2023 results
Third quarter 2023 results Audiocast presentation 9 November 2023
Slide 2: Forward looking statements
2 Forward looking statements This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product developments and regulatory approvals and financial performance. Camurus is providing the following cautionary statement. Such forward-lo
Slide 3: Agenda
3 Agenda • Business highlights Company participants • Financial performance Fredrik Tiberg • Commercial development President & CEO, CSO • R&D pipeline update Jon Garay Alonso Chief Financial Officer • Key take-aways Richard Jameson • Q&A Chief Commercial Officer
Slide 4: Business highlights
camurus. Business highlights
Slide 5: Strong performance in the third quarter
5 Strong performance in the third quarter Positive financial development Commercial development Pipeline progress High double-digit revenue growth Strengthened leadership in LAI Positive ACROINNOVA 2 Phase 3 to SEK 384 million treatment of opioid dependence results for CAM2029 in acromegaly
Slide 6: Financial performance
camurus, — Financial performance SF
Slide 7: Continued strong revenue growth and result
7 Continued strong revenue growth and result Revenue Operating result MSEK Cash position MSEK 1500 600 554 SEK 1,154 million 1342 +122% vs Q3 2022 400 1000 +95% +501 MSEK Q3 689 200 104 500 42 53 418 384 0 +62 MSEK 241 +59% -6 154 -92 0 -200 Q3 YTD Q3 YTD Q3 YTD Q3 YTD Q3 YTD Q3 YTD 2021 2022 2023 2
Slide 8: Reported Q3 profit and loss
8 Reported Q3 profit and loss CER YTD CER MSEK Jul – Sep Change Change Jan – Sep Change YTD Change YTD 2023 vs. 2022 vs. 2022 2023 vs. 2022 vs. 2022 Total revenues 384 +59% +49% 1 342 +95% +86% out of which CAM2038 milestones 36 406 Gross margin 352 +162bps +165bps 1 253 +425bps +473bps % GM Product
Slide 9: Strong cash generation – no debt
9 Strong cash generation – no debt •Cash position exceeded SEK 1 billion MSEK 365 17 1154 -1 -2 Raised FY 2023 outlook Total revenue and profit before taxes expected in the mid to high end of the interval: Revenue 121 SEK 1,640 – 1,720 million (increased from SEK 1,530 – 1,650 million) 654 Profit be
Slide 10: Commercial development
camurus. Commercial development
Slide 11: Buvidal showing strong growth in Europe, Australia and MENA
11 Buvidal showing strong growth in Europe, Australia and MENA •Sales growth across all markets •Quarterly product sales ‒ Net sales: SEK 346 million; +44% YoY, +13% QoQ MSEK • Strong performance across markets including the UK, 400 Nordics, Germany, Austria and Spain 346 350 ‒ Est. 45,000 patients
Slide 12: US launch of Brixadi in opioid use disorder
12 US launch of Brixadi in opioid use disorder •Braeburn responsible for US commercialization • US drug overdose deaths per 100,000 residents4 ‒ Focused commercial organization of over 100 people •Launch initiated 5 September 2023 ‒ Brixadi available in all 50 US states; in several cases with unrest
Slide 13: R&D update
camurus. R&D update
Slide 14: Octreotide SC depot
14 Octreotide SC depot CAM2029 under development in three serious rare disease indications • Acromegaly • Gastroenteropancreatic neuroendocrine tumors (GEP-NET) • Polycystic liver disease (PLD) •Designed for enhanced efficacy and patient convenience
Slide 15: CAM2029 Phase 3 programs advancing
15 CAM2029 Phase 3 programs advancing NDA filing NDA approval 1 Phase 3 RCT ACRO est. decisions ACRO est. 2 Phase 3 LST Trial continuation GEP-NET Phase 3 RCT PLD Phase 2/3 RCT Phase 3 continuation -2022 2023 2024 2025 2026 ACRO Phase 3 RCT ACRO Phase 3 LST GEP-NET Phase 3 RCT PLD Phase 2/3 RCT Rand
Slide 16: Progress in three clinical programs
16 Progress in three clinical programs Pivotal randomized placebo controlled Subcutaneous Octreotide Randomized Polycystic liver Safety and efficacy and long-term safety trials in acromegaly Efficacy in Neuroendocrine TumOrs TriAl with subcutaneous Octreotide Topline results reported SORENTO Pha
Slide 17: Preparing for commercialization of CAM2029
17 Preparing for commercialization of CAM2029 •Setting up US commercial infrastructure •Key scientific conferences 2024 Camurus Inc. operational Q1 2024 Q2 2024 Q3 2024 Q4 2024 Establishment of US commercial operations Global ICE AACE2023 ENDO ENEA NANETS • Distribution model 1-4 March Dubai UAE
Slide 18: Strong operational performance in the third quarter
18 Strong operational performance in the third quarter Continued growth of Buvidal in Europe and Australia Brixadi launched in the US for the treatment of opioid use disorder Positive Phase 3 results for CAM2029 in acromegaly Improved sustainability performance and ratings Solid financial position
Slide 19: Q&A
camurus. O&A
Slide 20: Key milestones in 2023
20 Key milestones in 2023 •Advancing the pipeline Topline ACROINNOVA 1 Phase 3 efficacy results in acromegaly Positive ACROINNOVA 2 Phase 3 long-term safety study results Pre-NDA meeting for CAM2029 in acromegaly NDA submission of CAM2029 in acromegaly Completed recruitment in SORENTO stud
Slide 21: Shareholders and analyst coverage
21 Shareholders and analyst coverage Shareholders as of 31 October 2023 Number of shares % of capital % of votes Sandberg Development AB 21,875,692 39.4 39.4 Fjärde AP-fonden 3,116,100 5.6 5.6 Analysts Avanza Pension 2,166,414 3.9 3.9 Carnegie Fredrik Tiberg, CEO 1,600,000 2.9 2.9 Erik Hultgård Swed
Slide 22: Experienced and committed management team
22 Experienced and committed management team Fredrik Tiberg, PhD Education: M.Sc. in Chem. Eng., Lund Institute of Technology, Jon Garay Alonso Education: Bachelor in Business Administration by President & CEO, CSO PhD and Assoc. Prof. Physical Chemistry, Lund University. Chief Financial Officer Uni