Bioporto A/s · OMXCOP:BIOPOR
Bioporto A/s — Q2 2023 Earnings Presentation
16 slides from Bioporto A/s's earnings presentation, Aug 1, 2023
Slide 1: 2023-Q2 Financial Results & Business Update
2023-Q2 Financial Results & Business Update Empowering Early Detection of Kidney Injury August 1 2023
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: Q2 2023 Highlights: Meaningful Progress
Q2 2023 Highlights: Meaningful Progress • Recorded year-to-date revenue of DKK 15.8 million, 5% above from last year driven by an increase in NGAL sales • Submitted comprehensive response to US FDA Additional Information Letter for De Novo application of NGAL tests for pediatric patients (aged 3 mon
Slide 4: Acute Kidney Injury (AKI) - an unmet clinical need
Acute Kidney Injury (AKI) - an unmet clinical need • An abrupt loss of kidney function that develops rapidly over a few hours or days. • Symptoms may include decreased urinary output, swelling due to fluid retention, nausea, fatigue, and shortness of breath. Often painless without symptoms. • Diffic
Slide 5: AKI is Common and Costly
AKI is Common and Costly 1 2 Increased Length of Stay Increased need for Dialysis Overall Mortality Rate 7 – 23 DAYS4 12% OF CRITICALLY ILL 21%6 ADULTS5 Hospital Patients at Risk of AKI:3 • Cardiac Surgery • Mechanical Ventilation • Sepsis $7,000 $5-20 • Organ or Bone Marrow increase billion Transpl
Slide 6: NGAL: Improving the Standard of Care
NGAL: Improving the Standard of Care Serum Creatinine is Inadequate 2-3 days delayed1 43% of patients missed using SCr alone2 66% of AKI is misclassified3 70% of clinicians believe they are missing AKI4 1. Devarajan P. Biomark Med. 2010;4(2):265-280 2. Haase et al. J Am Coll Cardiol 2011 3. Ricci et
Slide 7: Reagent-only product run on standard clinical chemistry instruments
Reagent-only product run on standard clinical chemistry instruments High-Value Diagnostic price point No investment in capital equipment High margins even at today’s scale © Copyright BioPorto | 8
Slide 8: US Market: Initial FDA Clearance for Pediatric Patients
US Market: Initial FDA Clearance for Pediatric Patients • Currently, 30+ US hospitals utilize the RUO NGAL test clinically as a Lab Developed Test (LDT) • Pediatric market has potential for more rapid adoption of new breakthrough products that can save the lives of children • Achieved Breakthrough S
Slide 9: US TAM Growth: Broadening Compatibility & Adult Label Expansion
US TAM Growth: Broadening Compatibility & Adult Label Expansion TAM $1.2B3 Addition of 3rd Adult Label PEDIATRIC ADULT Indication United States FDA Label Expansion with 1st Adult Indication Addition of 2nd Adult Label Indication Indication Expansion Beyond ICU Expansion of Instrument Roche Agnostic
Slide 10: Kickstarting European Sales with CE-marked product
Kickstarting European Sales with CE-marked product Multi-pronged sales approach: • • Select and train qualified distributor partners on clinical sales Provide expert Medical Affairs support ~$1B • Engage in Direct Marketing untapped market • Leverage KOLs experienced in NGAL testing Clinical Lab Com
Slide 11: Drive European Sales, Gain FDA Approval, Reduce Costs
Drive European Sales, Gain FDA Approval, Reduce Costs Drive Market Adoption & Strengthen to Scale Attract, Develop & Retain the Pipeline Development & Execute Best Employees • Support FDA approval of NGAL • Execute appropriate financing • Proactively recruit the most test for Pediatrics rounds quali
Slide 12: Revenue: DKKm 15.8, up 5% YTD over prior year
Revenue: DKKm 15.8, up 5% YTD over prior year Annual Revenue by Product Group* Revenue by Quarter* 2022 2023 NGAL Tests Antibodies Others 8.5 8.0 14.9 7.7 12.0 6.5 Q4 9.4 Q4 Q3 Q3 Q2 5.7 Q2 Q2 Q2 2.1 Q1 Q1 Q1 0.7 Q1 2022 2023 2022 2023 2022 2023 Q1 Q2 * all amounts in DKKm © Copyright BioPorto | 13
Slide 13: NGAL test sales up 27% on LTM basis
NGAL test sales up 27% on LTM basis NGAL test sales by Quarter (LTM, DKKm) +68% NGAL Global NGAL 27% 17.2 XX% 16.0 14.9 13.7 14.1 13.4 13.5 13.9 13.5 13.6 12.1 12.0 12.4 11.3 Growth in YTD global NGAL test sales vs. the previous last twelve months © Copyright BioPorto | 14
Slide 14: Cash position and working capital management
Cash position and working capital management Adjusted EBITDA and cash position (DKKm) • YTD 2023 cash use from operations: Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 DKKm 39.3, primarily reflecting payment of 107.9 clinical trial and restructuring costs 98.9 81.8 85.4 • Restructuring charge: DKKm 3.0 t
Slide 15: 2023 Reiterated Outlook
2023 Reiterated Outlook Amounts in millions of Danish Kroner and US Dollars1 Actual at 2023 Outlook June 30, 2023 Revenue Cash2 Adj. EBITDA loss DKK 30-33 DKK (60)-(65) DKK 85 $4.4-4.8 $(8.8)-(9.5) $12.5 1All Financial Figures Converted from DKK to USD at a rate of 6.8539 as of June 30, 2023. 2Unaud
Slide 16: Contacts
Contacts: EU: Tim Eriksen, Managing Partner Zenith Advisory, investor@bioporto.com +45 4529 0000 US: Ashley Robinson, Managing Director LifeSci Advisors, arr@lifesciadvisors.com +1 617 430 7577 CPH: BIOPOR