Camurus Ab · OMXSTO:CAMX
Camurus Ab — Q1 2025 Earnings Presentation
26 slides from Camurus Ab's earnings presentation, May 15, 2025
Slide 1: First quarter 2025 results
First quarter 2025 results Audiocast presentation 15 May 2025
Slide 2: Forward looking statements
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-look
Slide 3: Agenda
Agenda • Business highlights Company participants • Financial performance Fredrik Tiberg, PhD • Commercial development President & CEO, CSO Jon Garay Alonso • R&D pipeline update Chief Financial Officer • Key take-aways Richard Jameson • Q&A Chief Commercial Officer 3
Slide 4: Business highlights
Business highlights
Slide 5: Productive first quarter with high profitability
Productive first quarter with high profitability Commercial Advancing Financial & execution R&D pipeline corporate development • Strengthened global leadership in • Dosing initiated in clinical study of • The operating result grew 204% to opioid dependence treatment once-monthly semaglutide, CAM2056
Slide 6: Financial performance
Financial performance
Slide 7: Robust revenue growth and record-high profitability from operations
7 Robust revenue growth and record-high profitability from operations Revenue Profit before tax Cash position MSEK MSEK 600 300 SEK 2.9 billion 558 +27% vs Q1 2024 254 500 250 +43% 400 390 200 Q1 +162% 300 284 150 200 97 100 77 100 50 0 0 Q1 2023 Q1 2024 Q1 2025 Q1 2023 Q1 2024 Q1 2025
Slide 8: Reported Q1 profit and loss
Reported Q1 profit and loss CER MSEK Jan – Mar Change Change 2025 vs. 2024 vs. 2024 Total revenues 558 +43% +41% 519 Gross margin 88bps 107bps 93.0% Marketing and distribution costs -116 +25% +24% Administrative expenses -42 +158% +56% Research and development costs -131 -27% -28% Other operating in
Slide 9: Strong cash position and maintained guidance
Strong cash position and maintained guidance MSEK 3200 2,751 3100 246 Maintained full year 2025 guidance 3000 Revenue -168 2900 2,878 2,853 -34 -6 -12 SEK 2.7 – 3.0 billion 2800 + 45 – 61% vs. 2024 2700 Profit before tax SEK 0.9 – 1.2 billion 2600 + 63 – 117% vs. 2024 2500 Cash Operating Operating W
Slide 10: Commercial development
Commercial development
Slide 11: Buvidal – strengthened LAI leadership position
Buvidal – strengthened LAI leadership position •Increased market shares •Quarterly reported sales ‒ Net sales Q1 2025 was SEK 485 million; +33% YoY MSEK • Sales grew 3% vs previous quarter (+6% at CER) 500 485 469 ‒ Estimated 63,000 patients in treatment with Buvidal 421 end-March 2025 400 400 366 3
Slide 12: Brixadi Q1 performance in challenging US market
Brixadi Q1 performance in challenging US market •Brixadi royalty grew 185% YoY Brixadi royalty by quarter ‒ +1% at CER in the first quarter MSEK ‒ FX headwind -12% in the quarter 100 •US buprenorphine market down 13% compared 83 to previous quarter 80 74 ‒ Likely due to a combination of several tran
Slide 13: R&D update
R&D update
Slide 14: Octreotide SC depot, CAM2029
Octreotide SC depot, CAM2029 CAM2029 is a long-acting octreotide in development for three serious rare disease indications Acromegaly Gastroenteropancreatic neuroendocrine tumors (GEP-NET) Polycystic liver disease (PLD) Designed for enhanced efficacy and patient convenience vs. current somatostatin
Slide 15: CAM2029 clinical program overview
CAM2029 clinical program overview 5 completed Final results Phase 1 and 2 Open label extension clinical trials characterizing PK, PD and Fully recruited safety in Open label extension healthy subjects and Fully recruited Primary results patients Open label extension -2022 2023 2024 2025 2026 2027 AC
Slide 16: Upcoming results from POSITANO in PLD
Upcoming results from POSITANO in PLD •POSITANO trial to assess efficacy and safety of CAM2029 •Large unmet medical need in PLD ‒ 53-week randomized, placebo-controlled, three-arm study ‒ Severe quality-of-life implications for • Randomization of 71 patients completed in Q1 2024 patients with sympto
Slide 17: Regulatory update for CAM2029 in acromegaly
Regulatory update for CAM2029 in acromegaly •CHMP recommended EU marketing authorization of Oczyesa® ‒ Positive CHMP opinion received for Oczyesa® (CAM2029) in April 2025 ‒ Final EC approval decision expected in June 2025 •US NDA status ‒ CRL resolution at third-party manufacturer – no issues relati
Slide 18: Dissemination of scientific results for CAM2029
Dissemination of scientific results for CAM2029 •Medical affairs activities Rapid Fire presentation, Satellite Symposia, and ‒ Presentation of ACROINNOVA results at scientific posters of ACROINNOVA results at ESPE/ESE1 meetings and conferences ‒ MSL teams meeting with acromegaly stakeholders ‒ Natio
Slide 19: Early-stage programs
Early-stage programs Several early-stage programs advancing during the first quarter 2025 CAM2056 entered clinical development Continued assessments of multiple preclinical drug candidates, including long-acting incretins 19
Slide 20: CAM2056 Phase 1 study ongoing
CAM2056 Phase 1 study ongoing •CAM2056 – once monthly FluidCrystal semaglutide Completed preclinical program met target profile for pharmacokinetics, pharmacodynamics (incl. weight management) and tolerability •Clinical Phase 1 study initiated Phase 1 study assessing pharmacokinetics, pharmacodynami
Slide 21: Solid first quarter performance in challenging market conditions
Solid first quarter performance in challenging market conditions Record-high profitability from operations Continued Buvidal growth in Europe and RoW Brixadi held up in challenging US OUD market Dosing in Phase 1 study of CAM2056 Positive CHMP opinion for Oczyesa® in acromegaly* 21 * Occurred after
Slide 22: Q&A
Q&A Camurus AB│Rydbergs torg 4, SE-224 84 Lund, Sweden P +46 46 286 57 30│info@camurus.com│camurus.com
Slide 23: Shareholders and analyst coverage
Shareholders and analyst coverage Shareholders as of 30 April 2025 Number of shares % of capital % of votes Sandberg Development AB 20,530,692 34.9 35.0 Analysts State Street Bank and Trust 2,960,758 5.0 5.1 DNB Carnegie Fjärde AP-fonden 2,808,776 4.8 4.8 Erik Hultgård Swedbank Robur Fonder 2,354,45
Slide 24: Experienced and committed management team
24 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
Slide 25: Broad and diversified product portfolio and pipeline
Broad and diversified product portfolio and pipeline Products on the market Phase 1 Phase 2 Phase 3 Registration Market Buvidal® Opioid dependence EU, AUS, MENA Brixadi® Opioid use disorder1 US Key pipeline programs CAM2029 Acromegaly US, EU CAM2029 Gastroenteropancreatic neuroendocrine tumors CAM20
Slide 26: Growing scientific evidence base
Growing scientific evidence base •Strong scientific support for Buvidal/Brixadi Recent key publications1-3 ‒ Documenting effectiveness in multiple treatment settings ‒ Positive health economical outcomes ‒ More than 220 scientific publications ‒ Ongoing clinical studies exploring new applications •S