Camurus’ Interim Report January-March 2024
“Increased profitability and strong operational performance”
Summary first quarter 2024
January - March
- Total revenues amounted to SEK 390 (284) million, an increase of 37% (38% at CER1)
- Product sales of Buvidal® were SEK 364 (282) million, an increase of 29% (30% at CER1), and 0% (3% at CER1) compared to previous quarter
- Brixadi® US royalties increased from SEK 8 to 26 million, an increase of 212% (193% at CER1)
- Operating result was SEK 79 (74) million, an increase of 7%
- Profit before tax was SEK 97 (77) million, an increase of 26%
- Directed share issue carried out with net proceeds of SEK 1,026 million
- Cash position at the end of the quarter was SEK 2,274 (586) million
- Financial guidance for the full year 2024 reiterated
- New Drug Application (NDA) for Oclaiz™ (CAM2029) in acromegaly accepted for review by the US FDA with PDUFA action date 21 October, 2024
- Recruitment completed in the POSITANO study of CAM2029 in patients with polycystic liver disease
- Camurus established its US office in the Carnegie Center, Princeton, NJ, US
- Camurus moved to Nasdaq Stockholm Large Cap segment
Significant events after the period
- A Market Authorization Application (MAA) for CAM2029 for the treatment of acromegaly submitted to the European Medicines Agency (EMA)
Financial summary first quarter 2024
- Total revenue SEK 390 (284) million
- whereof product sales SEK 364 (282) million - OPEX SEK -289 (-184) million
- Operating result SEK 79 (74) million
- Profit before tax SEK 97 (77) million
- Result for the period SEK 78 (59) million
- Earnings per share, after dilution, of SEK 1.32 (1.02)
- Cash position SEK 2,274 (586) million
1. At constant exchange rates
Fredrik Tiberg, President and CEO:
“Camurus had a productive first quarter with increased revenues, improved results, and progress in our development portfolio. Sales of Brixadi® in the US grew strongly and royalty revenues from Braeburn tripled compared to the previous quarter. The New Drug Application (NDA) for Oclaiz™ (CAM2029) for acromegaly was accepted for review by the US FDA with a target approval (PDUFA) date of 21 October this year. Furthermore, we completed recruitment in the POSITANO study of CAM2029 in patients with polycystic liver disease. In the early project portfolio, promising results were obtained for a new monthly depot of semaglutide heading into clinical development.”
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/48849
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. The information was submitted for publication, through the agency of the chief executive officer, at 07.00 am CET on 8 May, 2024.
