Camurus’ Interim Report January-March 2020

”The number of patients treated with Buvidal® increased by 90 percent in the quarter”

Summary first quarter 2020

• Total revenues of SEK 49.3 million (18.5), an increase of 167%
• Product sales were SEK 48.6 million (11.0), an increase of 343%
• Product sales increased by 60% compared to previous quarter
• The estimated number of patients in treatment with Buvidal® increased by 90% to 7,500 in EU and Australia
• A market authorization application for Buvidal was submitted to the Swiss Agency for Therapeutic Products
• The Australian Therapeutic Goods Administration extended prescribing of Buvidal to include general practitioners after a 6-month trial period among opioid dependence specialists
• Clinical trial application granted for long-acting treprostinil, CAM2043, for the treatment of patients with Raynaud’s phenomenon
• Two new research collaborations with international pharmaceutical companies initiated, applying FluidCrystal technologies in new therapeutic areas

Significant event after the period

• Camurus announces strong first quarter demand for Buvidal and reiterates the financial outlook for 2020 with expected revenues in the higher interval

Outlook for 2020

• Net revenues are expected to be in the region of SEK 290-330 million*, with product sales of SEK 240-280 million. Operating expenses are expected to be in the region of SEK 570-610 million.
  * excluding milestone payments relating to Brixadi™ in the US

Financial summary first quarter 2020

• Total Revenue MSEK 49.3 (18.5)
    whereof product sales MSEK 48.6 (11.0)
• OPEX MSEK 117.3 (99.4)
• Operating result MSEK -76.9 (-84.4)
• Result for the period MSEK -61.6 (-67.6)
• Earnings per share SEK -1.19 (-1.62), before and after dilution
• Cash position MSEK 291.3 (406.6)

Fredrik Tiberg, President and CEO:
“Camurus started 2020 with strong growth in revenue driven by increasing demand for weekly and monthly Buvidal. We saw a 90 percent increase in the number of patients receiving treatment in the quarter. Buvidal is now the market leader in both Finland and Norway, with the strongest growth occurring in Australia. This positive trend in all markets was partly catalyzed by the ongoing Covid-19 pandemic, as treatment providers recognized the benefits Buvidal offers in terms of reducing the treatment burden for both patients and healthcare professionals in a hard-pressed healthcare sector. During this quarter, we continued to improve the availability of Buvidal in our markets. The Australian regulatory agency extended access, allowing GPs – who treat the majority of patients with opioid dependence – to prescribe Buvidal. In Germany and Austria, renumeration and legislative changes were put forward to facilitate access to long-acting medications.”

Audiocast
Financial analysts and media are invited to attend a telephone conference and presentation of the first quarter results today at 2 pm (CET). The conference call can also be followed by a link on camurus.com or via external link: https://financialhearings.com/event/12772

For more information:
Fredrik Tiberg, CEO and Head of Research
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, long-acting 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 the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the chief executive officer, 1.00 PM CET on 7 May 2020.