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Camurus’ Full Year Report 2022

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“First profitable year for Camurus driven by strong sales growth”
 

Fourth quarter and full year summary

October – December

  • Total revenues amounted to SEK 268 (183) million, an increase of 47% (36% at CER1), whereof product sales were SEK 267 (181) million, an increase of 47% (37% at CER)
  • Revenue and product sales increased 11% compared to previous quarter
  • Operating result was SEK 19 (-18) million, an increase of SEK 37 million
  • Cash position at the end of the quarter was SEK 566 (412) million, an increase of SEK 154 million
  • Estimated more than 36,000 patients treated with Buvidal® at the end of the quarter
  • Brixadi™ NDA accepted by the FDA with a PDUFA date of 23 May 2023
  • Patient recruitment completed in pivotal Phase 3 trial of CAM2029 in acromegaly

January – December

  • Total revenues amounted to SEK 956 (601) million, an increase of 59% (50% at CER1), whereof product sales were SEK 935 (594) million, an increase of 57% (48% at CER)
  • Operating result was SEK 72 (-111) million, an increase of SEK 183 million

Significant event after the period

  • Withdrawal of Type II variation application to EMA for CAM2038 to include treatment of chronic pain in patients with opioid dependence
     

Full year outlook 20232

  • Total revenues SEK 1,530 to 1,650 million
  • Profit before taxes SEK 425 to 525 million

1) At constant exchange rates, January 2022
2) The outlook includes milestone payment related to NDA approval in the US of USD 35 million
 

Fredrik Tiberg, President and CEO:
“We ended the year with a fourth quarter with excellent performance across the organization, strong sales momentum, positive operating results, and continued pipeline progress. Camurus reported full year profitability for the first time while also investing half a billion SEK in our R&D pipeline. We continued to strengthen our leading position in the treatment of opioid dependence across our markets. In the US, the NDA for Brixadi was resubmitted to the FDA and was granted a Prescription Drug User Fee Act date in May 2023. Finally, we completed patient recruitment in the pivotal Phase 3 study of CAM2029 in acromegaly with topline results expected by the end of Q2 2023.”
 

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 also be followed by a link on www.camurus.com or via external link: https://financialhearings.com/event/46213

For more information:
Fredrik Tiberg, President and 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 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, at 07.00 am CET on 14 February, 2023.

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