Camurus’ Full Year Report 2023
“An excellent fourth quarter with significant growth and pipeline progress”
Fourth quarter and full year summary
October - December
- Total revenues amounted to SEK 375 (268) million, an increase of 40% (36% at CER1), whereof product sales were SEK 366 (267) million, an increase of 37% (33% at CER1)
- Compared to the previous quarter, product sales increased 6% (7% at CER1)
- Operating result was SEK -29 (19) million, a decrease of SEK 47 million, including SEK 51 million social security costs accrual in the quarter relating to employee long term incentive programs, driven by the share value increase in the quarter
- Cash at the end of the quarter was SEK 1,190 (566) million, an increase of SEK 624 million (110%)
- Number of patients treated with Buvidal® increased to approximately 48,000
- New Drug Application for Oclaiz™ (CAM2029) for the treatment of acromegaly submitted to the US FDA
- Recruitment completed in the SORENTO study of CAM2029 in patients with neuroendocrine tumors
- The guidance for revenue and profit before tax for the full year 2023 was raised in October
- Nasdaq Stockholm announces that Camurus is moved from Mid Cap to Large Cap
January - December
- Total revenues amounted to SEK 1,717 (956) million, an increase of 80% (72% at CER1), whereof product sales were SEK 1,299 (935) million, an increase of 39% (34% at CER1)
- Operating result was SEK 526 (72) million, an increase of SEK 454 million (631%)
Significant events after the period
- Camurus executed a directed share issue raising gross proceeds of SEK 1,090 million
Full year outlook 2024
- Total revenues SEK 1,740 to 1,860 million, a growth of 33% to 42% vs. 2023 excluding one-time milestones revenues
- Profit before tax SEK 330 to 450 million, an increase of 131% to 215% vs. 2023 excluding one-time milestones revenues
1. At constant exchange rates
Fredrik Tiberg, President and CEO:
“Camurus finished the year with an excellent fourth quarter with significant growth and pipeline progress. In the US, sales of Brixadi™ started to take off after the launch in September, driven by a large unmet medical need for the treatment of opioid use disorder. We completed and submitted a New Drug Application to the US FDA for Oclaiz™ (CAM2029) for the treatment of acromegaly and finalized patient recruitment in the SORENTO study of CAM2029 in patients with neuroendocrine tumors. After the period, Camurus executed a directed share issue of SEK 1.1 billion to further strengthen our growth through business development and expanded launch preparations.”
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 at www.camurus.com or via external link: https://financialhearings.com/event/48848
For more information:
Fredrik Tiberg, President and CEO
Tel. +46 (0)46 286 46 92
[email protected]
Fredrik Joabsson, Chief Business Development Officer
Tel. +46 (0)70 776 17 37
[email protected]
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 disorders, 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 7.00 am CET on 15 February, 2024.
