Dri Healthcare Trust · TSX:DHT.U
Dri Healthcare Trust — Q3 2022 Earnings Presentation
14 slides from Dri Healthcare Trust's earnings presentation, Nov 8, 2022
Slide 1: Advancing Science in the Fast-Growing Pharmaceutical and Biotechnology Sector
ADVANCING SCIENCE in the Fast-Growing Pharmaceutical and Biotechnology Sector Q3 2022 Earnings Call | November 8, 2022
Slide 2: Disclaimer
Disclaimer Certain statements made in this presentation, including responses to questions, may contain forward-looking statements within the meaning of the safe harbor provisions of Canadian provincial securities laws. Forward-looking statements involve risks and uncertainties, and undue reliance sh
Slide 3: Q3 highlights
Q3 highlights 1 Accretive 2 Poised to 3 Unitholder growth execute returns Deployed $185 Significant credit Declared million in Q3 to capacity under distribution of fund three royalty existing facility $0.075 per unit transactions Robust and active pipeline 3
Slide 4: Q3 financial highlights
Q3 financial highlights $18.8 million $26.5 million $15.8 million Total Cash Receipts1 Total Income Adjusted EBITDA1 $7.6 million $0.57 $0.075 Net Earnings and Other Adjusted Cash Earnings per Declared distribution per Unit Comprehensive Earnings Unit1 1. Total Cash Receipts and Adjusted EBITDA are
Slide 5: Delivering on our long-term strategy
Delivering on our long-term strategy At IPO Today 2025 target $345 million deployed + On pace to exceed top end of Capital deployment $650 – 750 million over 5 years $56 million in milestones and initial target range options Flat to slightly growing cash Sustainable cash Declining cash curve due to
Slide 6: Empaveli royalty transaction
Empaveli royalty transaction 1 TRANSACTION HIGHLIGHTS STRONG GROWTH POTENTIAL Empaveli (pegcetacoplan, marketed as Aspaveli in EU) represents a $24.5 million purchase price significant advancement in the standard of care for paroxysmal nocturnal hemoglobinuria Pegcetacoplan is also in <1% royalty on
Slide 7: Zejula royalty transaction
Zejula royalty transaction TRANSACTION HIGHLIGHTS STRONG GROWTH POTENTIAL 1 $10 million milestone payment if Zejula is approved by FDA for the $35 Million up front purchase price treatment of endometrial cancer by December 21, 2025 In development for metastatic castrate sensitive and resistant 0.5%
Slide 8: Omidria royalty transaction
Omidria royalty transaction TRANSACTION HIGHLIGHTS STRUCTURED GROWTH 1 Annual Royalty Receipt Caps ($M) $125 Million purchase price, subject $30 to annual cash receipt caps 26.25 27.50 25.00 25.00 25.00 25.00 $25 20.00 $20 Approved for intracameral use during cataract surgery or $15 intraocular lens
Slide 9: Current deployment exceeds targets
Current deployment exceeds targets ($M) 03-Oct-22 400 350 21-Sep-22 300 21-Jul-22 30-Sep-21 250 28-Feb-22 200 Ahead of 2-year 25-Aug-21 ADDITIONAL MILESTONES target post-IPO 150 + OPTIONS 100 ACTUAL 50 0 Feb-21 May-21 Aug-21 Nov-21 Feb-22 May-22 Aug-22 Nov-22 Feb-23 Successful execution of IPO strat
Slide 10: Portfolio performance
Portfolio performance (US$ thousands) Total Cash Royalty Receipts1 Pro Forma Primary Marketer(s) Therapeutic Area Q3 2022 % Change Q2 2022 % Change Q3 2021 2 Hematology - - n/a - n/a Ophthalmology 2,762 4,7183 (41%) 2,875 (4%) Influenza - 7 (100%) - n/a Endocrinology 728 551 32% 649 12% 2 Ophthalmol
Slide 11: Strong cash generation
Strong cash generation Adjusted EBITDA for the Last Twelve Months Ended September 30, 2022 ($M)1 Adjusted EBITDA Margin1 86% Adjusted Cash Earnings per Unit4 1 3 1 $1.90 2 Cash available to drive portfolio growth and maintain distributions to unitholders 1. Adjusted EBITDA and Total Cash Receipts ar
Slide 12: Well capitalized for growth
Well capitalized for growth $20.5 million1 Cash and cash equivalents Significant $36.4 million1 capacity for Royalties receivable further growth $216.9 million1 Drawn on credit facilities Significant capital available for deployment 1. As a September 30, 2022. 12
Slide 13: Our key priorities
Our key priorities Execute on strong pipeline to acquire royalties on high quality assets that meet Grow asset our investment criteria base Focus on long-term, sustainable growth in Accretive top line royalty receipts and cash flow per growth unit Strong unitholder returns Continue focus on unithold
Slide 14: Contact Us
Contact Us Dave Levine ir@drihealthcaretrust.com