Camurus' Interim Report January-March 2022
"Camurus had a strong start of the year with results heading in the direction of long-term profitability."
Summary first quarter 2022
- Total revenues amounted to SEK 220 (126) million, an increase of 75% (67% at CER1),
whereof product sales were SEK 202 (124) million, an increase of 63% (56% at CER)
- Operating result was SEK 5 (-26) million, an increase of SEK 31 million
- Cash position at the end of the quarter was SEK 400 (428) million
- Full year 2022 outlook maintained
- Market authorization for Buvidal® for the treatment of opioid dependence in Lebanon
- New price and reimbursement approvals received for Buvidal in Belgium and Lebanon
- Application for expanded market authorization for Buvidal to include chronic pain submitted to the Australian TGA and accepted for review
- Dosing initiated in Camurus’ partner Rhythm Pharmaceutical’s Phase 3 study of setmelanotide weekly depot for the treatment of rare, genetic obesity disorders
- Three Phase 3 studies for CAM2029 progressed in acromegaly and neuroendocrine tumors
- Type C meeting held with the US Food and Drug Administration (FDA) aligning on patient reported outcomes (PROs) before initiating Phase 2/3 program of CAM2029 in polycystic liver disease
1) At constant exchange rates in January 2022.
Financial summary first quarter 2022
- Total Revenue MSEK 220 (126)
- whereof product sales MSEK 202 (124)
- OPEX MSEK 189 (137)
- Operating result MSEK 5 (-26)
- Result for the period MSEK -1 (-22)
- Results per share, before and after dilution, of SEK -0.01 (-0.40)
- Cash position MSEK 400 (428)
Fredrik Tiberg, President and CEO:
“Camurus had a strong start of the year with results heading in the direction of long-term profitability. We made significant progress in our R&D pipeline, strengthened our leading position in the treatment of opioid dependence and achieved positive operating results for the first time as a public company. Sales continued to grow and in addition there was a milestone payment from the partnership with Rhythm after dosing was initiated in a Phase 3 study in patients with rare obesity disorders. Our Phase 3 programs of CAM2029 for the treatment of acromegaly and neuroendocrine tumors progressed and preparations for the start of a new clinical study in patients with polycystic liver disease were completed.”
Financial analysts and media are invited to attend a telephone conference and presentation of the results today at 2 pm (CET). The conference call can be followed via the link: https://financialhearings.com/event/43529
For more information:
Fredrik Tiberg, President & CEO
Tel. +46 (0)46 286 46 92
Fredrik Joabsson, Chief Business Development Officer
Tel. +46 (0)70 776 17 37
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 cancer, endocrine diseases, pain and addiction, which are 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, 7.00 AM (CET) on 12 May, 2022.