Camurus’ Interim Report January-March 2021
“Camurus had an excellent start of 2021 with strong revenue growth, new regulatory approvals and progress in the pipeline”
Summary first quarter 2021
- Total revenue amounted to SEK 126 (49) million, an increase of 155% (161% at CER1)
- Product sales were SEK 124 (49) million, an increase of 156% (162% at CER)
- Sales growth was 20% (18% at CER) compared to the previous quarter
- Market approval for Buvidal in New Zealand
- CHMP recommended approval of a new 160mg dose of Buvidal in the EU
- Buvidal launched in Spain and the first hundred patients received treatment
- Positive decision from health economic evaluation of Buvidal by Haute Autorité de Santé in France
- FDA issued Safe to Proceed letter for the start of a Phase 3 study of CAM2029 for the treatment of neuroendocrine tumors
- Scientific advice with FDA regarding the clinical program for CAM2029 for polycystic liver disease
- New patent issued for CAM2038 Weekly in the US with patent term until July 2032
- The financial outlook for 2021 is unchanged; total revenue SEK 680 – 750 million2, whereof product sales SEK 620 – 680 million, and the operating result SEK -120 – 0 million2
1) At constant exchange rates in January 2021.
2) Not including US$35 million milestone payment on approval of Brixadi™ in the US.
Financial summary first quarter 2021
- Total Revenue MSEK 126 (49)
- whereof product sales MSEK 124 (49) - OPEX MSEK 136 (117)
- Operating result MSEK -26 (-77)
- Result for the period MSEK -22 (-62)
- Results per share, before and after dilution, of SEK -0.40 (-1.19)
- Cash position MSEK 428 (291)
Fredrik Tiberg, President and CEO:
“Camurus’ revenue increased strongly during the first quarter – by 156% compared to the first quarter of 2020. We successfully continued our work to make Buvidal available in new markets through its launch in Spain, a positive health economic decision in France, market approval in New Zealand and a recommendation for market approval of a new higher dose strength of Buvidal in the EU. Our Phase 3 studies of CAM2029 for the treatment of acromegaly advanced and we received acceptance from the FDA for a new Phase 3 study of CAM2029 for the treatment of neuroendocrine tumors. During the quarter, we also completed a scientific advice with FDA and aligned the Phase 2/3 clinical development program for CAM2029 for the treatment of polycystic liver disease.”
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/13365
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, 1.00 PM (CET) on 6 May, 2021.