Slide 1: Interim Report Q2 2024
Interim Report Q2 2024 Hellerup, August 15, 2024 © Copyright BioPorto | 1
Slide 2: Forward-looking Statements
Forward-looking Statements References herein to this presentation shall mean and include this document, to publicly update or revise forward-looking statements to reflect subsequent any oral presentation accompanying this document provided by BioPorto A/S events or circumstances after the date of th
Slide 3: Highlights from Q2 2024
Highlights from Q2 2024
Slide 4: Highlights from Q2 2024
Highlights from Q2 2024 TOTAL R EV E NU E ( H1 20 2 4 ) • Double-digit growth across all product lines driven by increased DKK 18.7 million NGAL revenues in US. An increase of 18% compared to same period last year • Total Q2 Sales of DKK 9.2 million and for H1 2024 DKK 18.7 million in line with expe
Slide 5: Strong Execution of Phase I Expected to Continue
Strong Execution of Phase I Expected to Continue Targets for period until Status after Q2 2024 Remaining part of 2024 mid-2025 Key Objectives: Status: Q3 and Q4 2024: • Initiate usage in Pediatrics/young ✓ Continued growth in US revenue with • Accelerate sales of NGAL products and adults (US). first
Slide 6: Important future milestones
Important future milestones Fundraising to fund First patient US First patient US Last patient US Submission to Expected US FDA clearance process enrollment for enrollment for enrollment for FDA of clearance for for ProNephro AKI adult study adult study adult study ProNephro AKI ProNephro AKI (NGAL)
Slide 7: Strategic Roadmap
Strategic Roadmap
Slide 8: Unlocking a USD 3 billion market for ProNephro AKI (NGAL) and the NGAL Test in AKI
Unlocking a USD 3 billion market for ProNephro AKI (NGAL) and the NGAL Test in AKI TAM Global USD 3 billion Adult US USD 1.1 billion Worldwide, all big 5 instrumentations, all AKI indications Pediatric US USD 60-80 million Adult RoW USD 1.7 billion Pediatric RoW USD 90-120 million Management estimat
Slide 9: Strategic initiatives and milestones towards 2029
Strategic initiatives and milestones towards 2029 Phase I Phase II Phase III 2024 – Jun 2025 Jul 2025 – Dec 2026 2027- 2029 Pediatric Indication Approved Pediatric Instrument Expansion Clearance Adult Indication Executed (FDA|IVDR) Key Objectives: Key Objectives: Key Objectives: • Initiate usage in
Slide 10: Targeting USD +100 million revenue in 2029 and profitability by 2026
Targeting USD +100 million revenue in STRATEGIC & FINANCIAL 2029 and profitability by 2026 OBJECTIVES • Revenue: USD +100m • Increasing profitability • Cash flow positive • Until 2026 - 4x 2024 Revenue revenue and build cash Adj. EBITDA trendline flow positive & EBITDA neutral operations by expandin
Slide 11: Execution in Q2 2024
Execution in Q2 2024
Slide 12: Preparations for US launch with strong momentum in Q2 2024
Preparations for US launch with strong momentum in Q2 2024 • BioPorto expanded its business development and sales staff in US (and Europe) with new hires to build further momentum ahead of expected commercial launch in H2 2024. • High activity in building knowledge of ProNephro AKI (NGAL) via intens
Slide 13: New distribution and instrument expansion partnerships are in progress
New distribution and instrument expansion partnerships are in progress • In February 2024, BioPorto and Roche expanded original global distribution partnership on Roche cobas c 501 to include Roche c 503. • In Q2 2024, BioPorto has advanced partnership dialogues with other leading instrument manufac
Slide 14: Enrolment of patients for adult ProNephro AKI (NGAL) use expected to commence in Q4 2024
Enrolment of patients for adult ProNephro AKI (NGAL) use expected to commence in Q4 2024 • Leveraging experience from the pediatric FDA clearance, BioPorto has progressed the FDA clearance process for ProNephro AKI (NGAL) forcefully in Q2 2024. • Draft protocol has been finalized and site engagement
Slide 15: Antibody portfolio under review to increase value creation
Antibody portfolio under review to increase value creation • Revenue from BioPorto’s antibody business grew 15% in Q2 2024 compared to the previous year period. • BioPorto has decided to assess further value creation potential from antibody business by initiating a thorough AI-based data analysis of
Slide 16: Oversubscribed direct share issue at market price with proceeds of DKK 81.4 million
Oversubscribed direct share issue at market price with proceeds of USD DKK 81.4 million • On June 18, BioPorto successfully completed an oversubscribed direct issue of 50 million new shares at market price with gross proceeds of DKK 81.4 million (USD 11.7 million) – the largest in the Company’s hist
Slide 17: Management team with strong in-vitro diagnostic track-record established
Management team with strong in-vitro diagnostic track-record established Peter Mørch Eriksen Gry Husby Larsen Niels Høy Nielsen Jeffrey Haas Group CEO Group CLO Group CFO US-CEO Peter Mørch Eriksen has served as Gry Husby Larsen was appointed Chief Niels Høy Nielsen joined BioPorto as Joined BioPort
Slide 18: Financial results in Q2 2024
Financial results in Q2 2024
Slide 19: Total revenues up 18% in H1 2024 – Solid growth in all product groups
Total revenues up 18% in H1 2024 – Solid growth in all product groups Annual Revenue by Product Group* Revenue by Quarter* 2023 2024 Total NGAL Tests Antibodies Others 9.5 9.2 8.6 8.0 7.7 18.7 (+18%) 15.8 6.6 Q2 11.5 (+22%) Q2 9.5 Q2 Q2 5.6 6.0 (+6%) Q1 Q1 Q2 Q2 Q1 Q1 Q1 Q1 0.7 1.2 (+60%) Q1 Q2 Q3 Q
Slide 20: NGAL sales increasing by 20% in the last twelve months (LTM)
NGAL sales increasing by 20% in the last twelve months (LTM) Total NGAL test sales by Quarter (LTM, DKKm) • Continued strong development in US sales of NGAL products (RUO) +20% • In H1 2024 US NGAL sales makes up 39% of total revenue • Total NGAL revenues makes up 62% of total revenue • Focused NGAL
Slide 21: Adj. EBITDA loss reduced compared to last year due to strict cost control
Adj. EBITDA loss reduced compared to last year due to strict cost control • EBITDA loss in Q2 2024 Adjusted EBITDA and cash position (DKKm) reduced by DKK 3 million Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 compared to last year. 103.9 • Sales and marketing cost increased due to higher 85.4 activities
Slide 22: Financial Outlook for 2024
Financial Outlook for 2024
Slide 23: 2024 Financial outlook unchanged
2024 Financial outlook unchanged Key revenue drivers for 30% revenue growth Revenue Adj. EBITDA • Increased sales of NGAL products, DKK ~40 million DKK (75)-(90) million primarily in the US with halo effect in USD (11)-(13) million RoW. USD 6 million • Roche commercialization in US expected to kick-
Slide 24: Compelling fundamental investment case
Compelling fundamental investment case ProNepro AKI (NGAL) is the first FDA-cleared biomarker for pediatric AKI assessment (ages 3 months through 22 years) - a USD +200 million global market Clear regulatory pathway towards FDA marketing authorization of ProNephro AKI NGAL opening up a global market
Slide 25: Q&A Financial calendar for 2024
Q&A Financial calendar for 2024 November 14, 2024 Interim Report, Q3 2024