Slide 1: Q2 22 Presentation
Q2 22 Presentation August 25th, 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 Annual revenue to saving costs and ambition of NOK protecting life 1bn in 4-6 years** Ambition to bring a steady USD 1.3bn serviceable stream of high-impact market with 8-9% annual diagnostic tests to market growt
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: Good progress made on NT-proBNP product development
Good progress made on NT-proBNP product development • Good progress made on NT-proBNP during the quarter; promising new immunoparticle candidate identified • Earlier issues related to interference and weak signal strength appear to be less pronounced with the modified candidate • More investigations
Slide 9: Dedicated and experienced management team
Dedicated and experienced management team 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, c
Slide 10: Three new board members adding complementary competence
Three new board members adding complementary competence Tomas Espen T. Tomas Kari E. Susanne Fredrik Monika Frank Settevik Jørgensen Kramar Krogstad Stuffers Thoresen Neuman Frantzen Chair of Board member Board member Board member Board member New board New board New board the Board member member me
Slide 11: Solid progress with sales growth and partnerships with leading global diagnostic companies
Solid progress recent years with sales growth and partnerships with leading global diagnostic companies Total revenue* and CAGR Partnerships prove viability of go-to-market model 120 100 NOKm Global distribution agreement for 100 GCAL®, initial roll-out in Europe 80 +27% 79 60 Long-standing commerci
Slide 12: Financial review
Financial review
Slide 13: Sales growth and milestones support long-term ambition
Sales growth and milestones support long-term ambition Q2 2022 financials Highlights Sales EBITDA • Record sales of MNOK 30.1 in 2Q22, up 22% and 19% organically • Announced additional distribution agreement for Cystatin C post NOK 30.1m NOK -1.2m quarter, initial rollout in the US +22% vs Q2’21 NOK
Slide 14: Continued high growth driven by established products
Continued high growth driven by established products Sales - geographic split • Sales increased by 22% to record-high NOK 30.1m (19% organic growth) MNOK 2Q22 2Q21 1H22 1H21 • Growth across geographical markets, Cystatin C main driver Europe 19.2 15.7 34.3 29.7 • Total revenues of NOK 32.9m in the q
Slide 15: Cost base reflecting continued investments in growth
Cost base reflecting continued investments in growth NOKm 2Q22 2Q21 2021 Sales and marketing expenses 6.8 3.7 15.1 2 2 Administration expenses 7.6 8.9 32.8 1 Research and development 5.3 10.7 24.4 expenses 2 Total 19.7 23.3 72.3 4 23 24 • Total other operating expenses was 19.7 million in Q2 2022 co
Slide 16: Investing to scale
Investing to scale Q2 2022 balance sheet and cash flow Capital priorities • Planned spending increase as total number of products Cash Capex launched and sales grow – limited increase in capex, plant expansion completed NOK 92.1m NOK 8.4m NOK 138.6m in Q2’21 NOK +4.4m vs Q2’21 • Current business pla
Slide 17: Summary and outlook
Summary and outlook
Slide 18: 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 19: Several de-risking milestones expected next months
Several de-risking milestones expected next 12 months 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 con
Slide 20: Q&A
Q&A
Slide 21: Appendix
Appendix
Slide 22: Gentian Diagnostics develops and supplies 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 23: 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 24: Combining avian antibodies and PETIA enables fast results
Combining avian antibodies and PETIA enables fast results and improved lab productivity Avian antibodies PETIA Avoiding interference enables Removing separation conversion to PETIA steps increases throughput and reduces cost Antibodies: Proteins used by the immune system to identify Immunoassays: Bi
Slide 25: 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 26: Diversified sales model to ensure broad market access
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 27: P&L highlights
P&L highlights NOKm Q2 22 Q2 21 2021 Sales 30.1 24.6 83.1 Other revenues 2.8 6.9 16.9 Total revenues 32.9 31.5 100.0 COGS 14.4 11.4 43.2 Employee benefit expenses 11.6 8.7 39.5 D&A 2.7 2.0 7.4 Other OPEX 8.1 12.3 32.8 EBITDA -1.2 -0.9 -15.5 EBIT -4.0 -2.8 -22.8
Slide 28: Cash flow highlights
Cash flow highlights NOKm Q1 22 Q1 21 2021 Operating activities 1.0 -2.9 -27.1 Investing activities -8.4 -4.0 -12.8 Financing activities -0.1 -0.6 -3.1 Changes in cash and cash equivalent -8.1 -7.5 -43.0 Cash and cash equivalent at the beginning of period 100.2 146.1 158.0 Cash and cash equivalent a
Slide 29: 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 931 217 6.04 % Safrino AS 800 000 5.19 % Skandinaviska Enskilda Banken AB 474 870 3.08 % Salix AS 407 121 2.64 % Verdip