Slide 1: Q1 22 Presentation
Q1 22 Presentation April 28th, 2022
Slide 2: Important notice
Important notice This presentation has been prepared by and is the sole which are subject to risks, uncertainties and other factors with applicable laws and regulations. The Company require responsibility of Gentian Diagnostics ASA (the “Company” that may cause actual events to differ materially fro
Slide 3: Efficient diagnostics for better treatment decisions
Efficient diagnostics for better treatment decisions The growing diagnostic market puts increasing pressure on laboratories. Still, many of the existing, clinically relevant biomarkers are only available on slow and inefficient platforms. By converting biomarkers to the most efficient automated, hig
Slide 4: Introduction and highlights
Introduction and highlights
Slide 5: Portfolio of high-impact tests provides solid growth opportunity
Portfolio of high-impact tests provides solid growth opportunity 7* tests contributing Revenue ambition to saving costs and of NOK 1bn in protecting life 4-6 years** Delivered ~27% Industry leading average annual team and knowhow revenue growth 2018-21 *4 established tests, 2 in market development a
Slide 6: Products targeting large and growing disease groups
Products targeting large and growing disease groups DISEASE GROUP PRODUCT APPLICATION ATTRACTIVE CLINICAL BENEFITS Kidney disease Cystatin C Early detection of reduced kidney function Preventing severe kidney failure Inflammation Fast diagnosis of inflammatory bowel disease Reducing time-consuming a
Slide 7: USD 1.3bn global serviceable market estimated to grow by 8-9% annually
USD 1.3bn global serviceable market estimated to grow by 8-9% annually next 4-6 years Serviceable Market Total Addressable Total Serviceable Target market share, Gentian’s annual growth rate, Market, USDbn Market, USDm unrisked revenue take next 4-6 years Established products 1.5 180 ~25% 30-50% 5-1
Slide 8: Long-term ambitions rooted in recent progress
Long-term ambitions rooted in recent progress Four established products with potential to grow 20%+ annually Prove clinical relevance of GCAL and bring NT-proBNP to market 7 products with combined net revenue potential of Bring a steady stream of high-impact diagnostic tests to market Revenue NOK 1b
Slide 9: Q1 2022 highlights
Q1 2022 highlights • Sales revenue was MNOK 20.6 (+5% vs 1Q21, organic growth +6%); Sales EBITDA total operating revenue was MNOK 23.1 NOK 20.6m NOK -4.2m • Third-party products sales was MNOK 2.8 (+81%); positive developments continues into Norway, Finland, and Iceland +5% vs Q1’21 NOK -2.0m in Q1’
Slide 10: Update on the NT-proBNP product development
Update on the NT-proBNP product development • Gentian has made progress on earlier reported challenges and efforts are now focused on interference • Testing revealed interference from two sources, screening for additional sources is ongoing and work on potential solutions have been initiated • Genti
Slide 11: Financial review
Financial review
Slide 12: Financial highlights
Financial highlights NOKm Q1 22 Q1 21 2021 Sales 20.6 19.6 83.1 Other revenues 2.5 4.6 16.9 Total revenues 23.1 24.2 100.0 COGS 11.6 10.5 43.2 Employee benefit expenses 8.5 9.6 39.5 D&A 2.1 2.0 7.4 Other OPEX 7.1 6.0 32.8 EBITDA -4.2 -2.0 -15.5 EBIT -6.3 -4.0 -22.8
Slide 13: Sales and other revenues
Sales and other revenues Sales - geographic split • 6% growth in organic sales (5% reported) impacted by timing of large orders, underlying sales trend continues positively MNOK Q1 22 Q1 21 2021 • Sales driven mainly by demand growth in US and Europe, and third-party US 1.3 0.4 2.5 sales • Total rev
Slide 14: Operating expenses in the quarter
Operating expenses in the quarter NOKm 1Q22 1Q21 2021 Sales and marketing expenses 4.6 4.0 15.1 2 2 Administration expenses 6.7 5.5 32.8 Research and development 4.4 6.1 24.4 expenses 1 2 Total 15.7 15.7 72.3 4 23 24 • Total other operating expenses was 15.7 million in Q1 2022, level with the NOK 15
Slide 15: Strong cash position
Strong cash position NOKm Q1 22 Q1 21 2021 Operating activities -11.4 -9.4 -27.6 Investing activities -2.2 -2.2 -13.6 Financing activities -1.1 -0.1 -1.7 Changes in cash and cash equivalent -14.8 -11.8 -43.0 Cash and cash equivalent at the beginning of period 114.9 158.0 158.0 Cash and cash equivale
Slide 16: Summary and outlook
Summary and outlook
Slide 17: Solid commercial progress with global diagnostics companies
Solid commercial progress with global diagnostics companies Top global diagnostics companies offering products developed by Gentian Global distribution agreement for • Gentian’s main strategy is to secure broad roll-out through GCAL®, initial roll-out in Europe partnerships with global diagnostics c
Slide 18: Several de-risking milestones expected in 2022
Several de-risking milestones expected in 2022 ESTABLISHED PRODUCTS GCAL SARS-COV-2 AB NT-PROBNP Targeting additional large Securing additional global Commercial launch, executed Progress on remaining commercial partners commercial partnerships and in March 2022 challenges in optimisation continue E
Slide 19: Q&A
Q&A
Slide 20: Appendix
Appendix
Slide 21: Gentian Diagnostics develops and supplies innovative and efficient reagents for the clinical diagnostics market
Gentian Diagnostics develops and supplies innovative and efficient reagents for the clinical diagnostics market Sales office, Sweden • Gentian serves the global market for human and veterinary clinical diagnostic tests HQ, Norway • Expertise and focus within immunochemistry, specifically in the dise
Slide 22: How Gentian contributes to efficient diagnostics for better treatment decisions
How Gentian contributes to efficient diagnostics for better treatment decisions The industry challenge Gentian’s solution High-value benefits A growing diagnostics market puts increasing Particle-enhanced turbidimetric 3-10x higher throughput significantly pressure on clinical laboratory efficiency
Slide 23: Structured approach to product development
Structured approach to product development EXPLORATION PROOF OF CONCEPT OPTIMISATION VERIFICATION VALIDATION LAUNCH Clinical and Technical feasibility Prototype developed Prototype formally Final product tested Product made available commercial demonstrated, project and risk assessment evaluated aga
Slide 24: Diversified sales model to ensure broad market access and maximize penetration
Diversified sales model to ensure broad market access and maximize penetration Global diagnostics companies Specialized/local distributors Healthcare providers • Gentian’s main strategy to secure broad roll-out • Accelerating time to revenue and awareness • Direct sales to select end-users and key o
Slide 25: Gentian management
Gentian management CEO CSO CFO & COO VP R&D VP Clinical Affairs VP Global Sales VP QA & RA VP BD Hilja Erling Njaal Torsten Alexandra Markus Anne-Mette Jack Ibert Sundrehagen Kind Knüttel Havelka Jaquemar Horsrud Akre Andreassen 25+ years’ experience from Erling Sundrehagen, co- 20+ years experience
Slide 26: Gentian board
Gentian board Tomas Espen Tidemann Ingrid Teigland Kari E. Susanne Runar Tomas Settevik Jørgensen Akay Krogstad Stuffers Vatne Kramar Chair of Board member Board member Board member Board member Board member Board member the Board Tomas Settevik has Espen Tidemann Ingrid Teigland Akay is a Kari Krog
Slide 27: Top 20 shareholders
Top 20 shareholders Shareholder No of shares % Vatne Equity AS 2 110 224 13.68 % Kvantia AS 1 623 368 10.53 % Holta Life Sciences AS 1 214 702 7.88 % Verdipapirfondet Delphi Nordic 914 782 5.93 % Safrino AS 800 000 5.19 % Skandinaviska Enskilda Banken AB 563 500 3.65 % Salix AS 415 122 2.69 % Verdip