Camurus Ab (CAMRF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you so much, Einar. And hello, everyone. Welcome to our third quarter earnings call. It's a beautiful autumn day here in Lund, Sweden, where we are sending this from. I will assume that you have read our forward-looking statements going forward here. So, again, the call today is as follows. We start with third quarter highlights, move on to financial and commercial performance reviews, followed by an update on R&D, and then we'll finish off with key takeaways and Q&A. With me on the call today is Anders Wadsholt, Chief Financial Officer, and Richard Jameson, Chief Commercial Officer. During the quarter, cameras delivered strong profitability, continued progress of pipeline programs, and prepared for the launch of our next commercial product. Starting then here with some highlights. On the financial side, our quarterly revenues increased by 18% year-on-year, 25% at constant exchange rate to 575 million SEK, driven by higher Bixadi royalties. Profitability remains strong, growing 48% to 245 million SEK, increasing our cash position to 3.5 billion. We maintained our profit guidance. However, due to the headwinds we have had, we have lowered our full-year revenue guidance. The commercial performance in the quarter was mixed, you could say. Vivid all sales in Europe slowed down temporarily, primarily due to ongoing funding issues, while Bricsadi reported double-digit sales growth quarter to quarter. In parallel, we prepared for the launch of Oxyisa in the European markets. This has been progressing very well. On the R&D side, marketing approvals for Oxyisa were received in the UK, and we also updated the NDA draft for the Oclays submission. This is pending completion of an inspection of the contract manufacturer. We were also granted two new orphan drug designations...