Camurus’ Full Year Report 2021
“Strong fourth quarter, with record sales, new regulatory submission and good progress in our pipeline and partnerships”
Fourth quarter and full year summary
October – December
- Total revenues amounted to SEK 183 (106) million, an increase of 73% (70% at CER1), whereof product sales were SEK 181 (104) million, up 74% (71% at CER)
- Quarter on quarter sales growth was 19% (18% at CER)
- Operating result was SEK -18 (-82) million, an improvement of 78%
- Cash position at the end of the quarter was SEK 412 (462) million
- The European Medicines Agency accepted and initiated a review of the new regulatory application to extend the Buvidal® indication to include treatment of chronic pain
- Camurus’ licensee Braeburn was issued with a new CRL from the FDA for Brixadi™
- Buvidal approved in Israel for the treatment of opioid dependence
- Initiation of dosing in Phase 3 study of CAM2029 in patients with neuroendocrine tumors
- Positive results from bridging Phase 1 study of CAM2029 with injection pen and pre-filled syringe
January – December
- Total revenues amounted to SEK 601 (336) million, an increase of 79% (78% at CER), whereof product sales were SEK 594 (323) million, up 84% (84% at CER)
- Operating profit was SEK -111 (-205) million, an improvement of 46%, meeting 2021 guidance
Events after the period
- Camurus’ license partner Rhythm Pharmaceuticals initiated dosing in the Phase 3 study evaluating setmelanotide weekly depot in patients with rare genetic obesity diseases
- Jon Garay Alonso joined the company as Chief Financial Officer on 1 February 2022
Financial outlook 20222
- Total revenues SEK 900 to 950 million, +50-58%
- Product sales SEK 875 to 925 million, +47-56%
- Operating results SEK -60 to +10 million, +46-109%
1) At constant exchange rates in January 2021.
2) The outlook excludes milestone payments related to approval of Brixadi™ in the US, and is based on exchange rates in January 2022.
Fredrik Tiberg, President and CEO:
“Camurus had a successful fourth quarter in 2021 with record sales of SEK 181 million and increased growth of 19 percent compared to the previous quarter. We submitted a regulatory application to the European Medicines Agency for extended approval of Buvidal® to include the treatment of chronic pain, initiated dosing of CAM2029 in a Phase 3 study in patients with neuroendocrine tumors, and continued to advance two Phase 3 studies in acromegaly. An otherwise positive year ended with the news in December that our US licensee Braeburn had received a new Complete Response Letter for Brixadi™ from the FDA.”
Audiocast
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/43528
For more information:
Fredrik Tiberg, President & 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 commercialising 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 16 February 2022.