"High sales growth and strong financial performance in the second quarter"
Summary second quarter 2024
April - June
- Total revenues amounted to SEK 445 (674) million. Excluding a one-time revenue of SEK 369 million in Q2 20231, company growth was 46% (41% at CER2)
- Product sales of Buvidal® were SEK 400 (305) million, an increase of 31% (28% at CER2) and 10% (6% at CER2) compared to previous quarter
- Brixadi® royalties were SEK 45 (-) million, an increase of 73% (75% at CER2) compared to previous quarter
- Operating result was SEK 83 (376) million
- Profit before tax was SEK 104 (381) million. Excluding one-time revenues1, profit before tax increased by SEK 92 million, an increase of 763%
- Cash position at the end of the quarter was SEK 2,567 (654) million
- Data related to treatment efficacy in opioid dependent patients using fentanyl published in JAMA Network Open
- Market Authorization Application (MAA) for CAM2029 for the treatment of acromegaly accepted for review by the EMA
- Phase 3 ACROINNOVA program data presented at ACE 2024, ECE 2024 and ENDO 2024
January - June
- Total revenues amounted to SEK 835 (958) million. Excluding one-time revenues1, total revenues grew by SEK 246 million, an increase of 42% (40% at CER2)
- Product sales of Buvidal were SEK 764 (587) million, an increase of 30% (29% at CER2)
- Brixadi royalties were SEK 71 million
- Operating result was SEK 161 (450) million
- Profit before tax was SEK 201 (457) million. Excluding one-time revenues1, profit before tax grew by SEK 113 million, an increase of 129%
- Company expects to finalize in the mid to high range of 2024 full year guidance
Significant events after the period
- Positive final topline Phase 3 results from ACROINNOVA 2 in patients with acromegaly
Financial summary second quarter 2024
- Total revenues MSEK 445 (674)
- whereof product sales MSEK 400 (305) - OPEX MSEK 331 (270)
- Operating result MSEK 83 (376)
- Result for the period MSEK 74 (301)
- Profit before tax SEK 104 (381) million
- Earnings per share, after dilution, of SEK 1.25 (5.24)
- Cash position MSEK 2,567 (654)
1) Excluding a one-time revenue of SEK 369 million related to the Brixadi approval by the FDA in Q2 2023
2) At constant exchange rates
Fredrik Tiberg, President and CEO:
"Camurus had a successful second quarter with increased growth for Buvidal® in Europe and Australia and positive development for Brixadi® in the US. The evidence base for these treatments was expanded with several new publications, including data on treatment efficacy in opioid dependent patients using fentanyl. Our product portfolio continued to advance with two regulatory applications under review for CAM2029 for the treatment of acromegaly, with expected approval decision by the FDA in October 2024 and by the EMA around the middle of next year. In parallel, pre-launch activities for Oclaiz and the establishment of our commercial organization in the US progressed according to plan. After the period, positive topline results from ACROINNOVA 2 were announced, confirming the safety profile and long-term efficacy of CAM2029 for the treatment of acromegaly."
Audiocast
Financial analysts and media are invited to attend a telephone conference and presentation of the results today at 2.00 pm (CET). The conference call can also be followed by a link on www.camurus.com or via external link: https://financialhearings.com/event/48850
For more information:
Fredrik Tiberg, President and CEO
Tel. +46 (0)46 286 46 92
fredrik.tiberg@camurus.com
Fredrik Joabsson, Chief Business Development Officer
Tel. +46 (0)70 776 17 37
ir@camurus.com
About Camurus
Camurus is a Swedish science-led biopharmaceutical company committed to developing and commercializing innovative and differentiated medicines for the treatment of severe and chronic conditions. New drug products with best-in-class potential are conceived based on the company's proprietary FluidCrystal® drug delivery technologies and its extensive R&D expertise. Camurus' clinical pipeline includes products for the treatment of dependence, pain, cancer, and endocrine disease, developed in-house and in collaboration with international pharmaceutical companies. The company's shares are listed on Nasdaq Stockholm under the ticker CAMX. For more information, visit www.camurus.com.
This information is information that Camurus AB is obliged to make public pursuant to the EU Market Abuse Regulation and to the Securities Markets Act. The information was submitted for publication, through the agency of the chief executive officer, at 07.00 am CET on 16 July, 2024.
