Camurus’ Interim Report Second Quarter 2022
“For the first time and ahead of plan, Camurus entered profitability in the second quarter”
Second quarter summary
April - June
- Total revenues amounted to SEK 227 (138) million, an increase of 64% (55% at CER1),
whereof product sales were SEK 225 (137) million, an increase of 65% (56% at CER)
- Operating result was SEK 7 (-60) million, an increase of SEK 67 million
- Cash position at the end of the quarter was SEK 428 (422) million
- Number of patients treated with Buvidal® at the end of the quarter estimated to around 30,000
- Buvidal 160mg launched in Australia after price and reimbursement approvals
- Phase 2b-study of CAM2029 in patients with polycystic liver disease initiated
- Topline results from exploratory Phase 2 study of CAM2043 indicated efficacy in Raynaud’s Phenomenon
January - June
- Total revenues amounted to SEK 447 (264) million, an increase of 69% (61% at CER1),
whereof product sales were SEK 427 (261) million, an increase of 64% (56% at CER)
- Operating result was SEK 12 (-86) million, an increase of SEK 98 million
- Full year operating result guidance raised from SEK -60/+10 million to SEK -20/+40 million2
Events after the quarter
- episil® oral liquid for the treatment of oral pain due to oral mucositis acquired by Solasia Pharma K.K. in Japan
1) At constant exchange rates in January 2022.
2) Excluding milestone payments related to a potential approval of Brixadi™ in the US.
Financial summary second quarter 2022
- Total Revenue SEK 227 (138) million
- whereof product sales SEK 225 (137) million
- OPEX SEK 196 (179) million
- Operating result SEK 7 (-60) million
- Result for the period SEK 8 (-48) million
- Results per share, after dilution, of SEK 0.14 (-0.89)
- Cash position SEK 428 (422) million
Fredrik Tiberg, President and CEO:
“Our positive development continued during the second quarter with increasing Buvidal patient numbers, improved financial result, and progress in our registration and Phase 3 programs in chronic pain and rare diseases. The strong, double-digit growth of Buvidal sales resulted in a historic first profitable quarter, improved cash position, and a raised full-year result guidance. After a positive first half of the year, we are well positioned to successfully deliver on our goals for the year and the long-term strategy.”
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 also be followed by a link on www.camurus.com or via external link (PIN 6658524#): https://financialhearings.com/event/43530.
For more information:
Fredrik Tiberg, President and 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 and to the Securities Markets Act. The information was submitted for publication, through the agency of the chief executive officer, 07.00 AM (CET) on 15 July, 2022.