Camurus Ab · OMXSTO:CAMX
Camurus Ab — Q1 2022 Earnings Presentation
22 slides from Camurus Ab's earnings presentation, May 12, 2022
Slide 1: First quarter 2022 results
First quarter 2022 results Audiocast presentation 12 May 2022
Slide 2: Forward looking statements
2 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-lo
Slide 3: Agenda
3 Agenda • First quarter highlights Company participants • Financial update Fredrik Tiberg, PhD • Commercial update President & CEO, Head R&D • R&D pipeline development Jon Garay Alonso • Key take-aways Chief Financial Officer • Q&A Richard Jameson Chief Commercial Officer
Slide 4: First quarter 2022 highlights – delivering on strategy
4 First quarter 2022 highlights – delivering on strategy Strong financial performance Commercialization execution Pipeline advancement First quarter with positive High double-digit YoY sales Application for Buvidal in chronic operating result as a listed growth pain accepted by Australian TGA
Slide 5: Financial update
5 Financial update Jon Garay Alonso, CFO
Slide 6: Revenue growth and result improvement
6 Revenue growth and result improvement Revenue Operating Result Revenue growth MSEK MSEK +75% vs Q1 2021 250 250 20 +21% vs Q4 2021 220.3 4.8 200 0 Cash position 200 +75% +31.1 M SEK 400 million -20 150 150 -7% vs Q1 2021 -26.3 125.9 -40 Q1 100 100 -60 49.3 50 50 -80 -76.9 0 0 -100 Q1 Q1 2020 Q1 Q1
Slide 7: Reported profit and loss and FY 2022 outlook
7 Reported profit and loss and FY 2022 outlook MSEK Jan – Mar Change CER Change 2022 vs. 2021 vs. 2021 Total revenues 220.3 +75% +67% Reiterated FY 2022 outlook1 Gross margin 194.1 +59 bps +51 bps Total revenue SEK 900 to 950 million Marketing and distribution costs -57.2 +28% +23% + 50-58% Product
Slide 8: Commercial update
8 Commercial update Richard Jameson, CCO
Slide 9: Buvidal growth trajectory continued in Q1
9 Buvidal growth trajectory continued in Q1 •Sales increase in first quarter •Quarterly product sales ‒ SEK 202 million sales (+63% vs. Q1 2021, +12% vs. Q4 2021) MSEK ‒ Est. more than 27,000 patients in treatment at the end of Q1 250 2020 2021 2022 •Strengthened market leadership in establish marke
Slide 10: Positive outlook for Buvidal
10 Positive outlook for Buvidal •Addressing funding in high potential markets1-3 ‒ England building a world class treatment system1 • Additional funding of £780m over next 3 years for drug addiction treatment in England with budget allocated from Q2 2022 ‒ France/Spain – increased regional funding a
Slide 11: Buvidal (Brixadi) regulatory status update
11 Buvidal (Brixadi) regulatory status update New approvals and ongoing processes Brixadi™ tentatively approved in the US ‒ Market authorization in Lebanon, adding to ‒ Braeburn issued with new Complete Response approvals in EU, Australia, UK, Switzerland, Letter (CRL) for the Brixadi NDA on 15 Dec
Slide 12: R&D pipeline development
12 R&D pipeline development Fredrik Tiberg, CEO
Slide 13: Buvidal label extension to chronic pain
13 Buvidal label extension to chronic pain •Regulatory reviews ongoing in EU and Australia — EMA review of type 2 variation application, for extending the Buvidal indication for opioid dependence to also include chronic pain, progressed according to plan — CHMP opinion and EC approval decision expec
Slide 14: CAM2029 advancing clinical study programs
14 CAM2029 advancing clinical study programs ACRO Phase 3 RCT Four completed clinical trials ACRO Phase 3 LST characterizing PK, PD and safety in healthy GEP-NET Phase 3 RCT ”SORENTO” subjects and patients (N=249) PLD Phase 2b RCT ”POSITANO” OLE Prefilled pen PK bridge - 2021 2022 2023 2024 2025 ACR
Slide 15: CAM2029 status update
15 CAM2029 status update Acromegaly •PLD Market potential Two pivotal Phase 3 studies ongoing IND safe to proceed 122 of 148 total patients enrolled FDA alignment in Type C meeting CAM2029 peak market sales estimate in acromegaly, NET, Recruitment in Russia on hold about PRO for Phase 2/3
Slide 16: Phase 3 milestone for weekly setmelanotide
16 Phase 3 milestone for weekly setmelanotide •Developed for treatment of rare genetic diseases of obesity Weekly formulation of setmelanotide based on Camurus’ FluidCrystal technology Daily formulation, IMCIVREE™, approved by FDA in 20201 and by EC in 20211,2 •First dosing in Phase 3 switch stu
Slide 17: Continued value creation for patients and shareholders
17 Continued value creation for patients and shareholders •Commercial execution ‒ Strengthened leadership in opioid dependence treatment ‒ Accelerated growth in high-potential EU markets ‒ Improved access to treatment and funding •Pipeline advancement ‒ Three ongoing Phase 3 programs in rare disease
Slide 18: Q&A
camurus. O&A
Slide 19: Expected news flow 2022/23
19 Expected news flow 2022/23 Q2 2022 H2 2022 2023 Buvidal initiation and 160mg CHMP opinion Buvidal Enrollment completed CAM2029 launch in Australia chronic pain SORENTO Phase 3 NET EC approval decision Phase 3 RCT results CAM2029 ACRO Buvidal chronic pain First dosing POSITANO Phase 2b
Slide 20: Key figures first quarter 2022
20 Key figures first quarter 2022 MSEK Jan – Mar Jan – Mar Change Jan – Dec 2022 2021 2021 Total revenues 220 126 75% 601 whereof product sales 202 124 +63% 594 Operating expenses 189 136 +39% 628 Operating result 5 -26 - -111 Result for the period -1 -22 - -90 Result per share, before and after dil
Slide 21: Shareholders and analyst coverage
21 Shareholders and analyst coverage Shareholders as of 30 April 2022 Number of shares % of capital % of votes Sandberg Development AB 21,875,692 39.9 39.9 Fjärde AP-fonden 3,502,450 6.4 6.4 Avanza Pension 2,672,044 4.9 4.9 Analysts Didner & Gerge Fonder 2,572,977 4.7 4.7 Fredrik Tiberg, CEO 1,672,7
Slide 22: Experienced and committed management team
22 Experienced and committed management team Fredrik Tiberg, PhD Education: M.Sc. in Chemical Engineering, PhD in Physical Jon Garay Alonso Education: Bachelor in Business Administration by President & CEO, Head R&D Chemistry, Lund University Chief Financial Officer Universidad Comercial de Deusto.