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Camurus’ Interim Report Second Quarter 2021

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“Significant progress on key objectives with increasing revenues, new regulatory approvals, and a potential US market authorization in 2021”

Summary second quarter 2021

  • Total revenue amounted to SEK 138 (81) million, an increase of 71% (72% at CER1)
  • Product sales were SEK 137 (76) million, an increase of 80% (82% at CER)
  • Sales growth was 10% (10% at CER) compared to the previous quarter
  • For the period January to June, total revenues were SEK 264 (130) million, an increase of 103%,
    of which product sales were SEK 261 (124) million, an increase of 110%
  • Cash at end of the quarter was SEK 422 million
  • Market approval of a new higher dose (160mg) of Buvidal® in Australia, EU and UK
  • Approval of direct initiation of treatment with Buvidal in Australia
  • Updated NDA for Brixadi™ submitted by Braeburn to the US FDA
  • FDA accepted the NDA filing and set a PDUFA date for market approval of Brixadi to 15 December 2021
  • Results from the DEBUT study showing improved treatment results with Buvidal compared to daily standard treatment published in JAMA Network Open
  • Results from the UNLOC-T study showing good treatment results with Buvidal in custodial setting published in the leading addiction journal Addiction
  • Camurus awarded with the Carnegie Sustainability Award 2021
  • The financial outlook for 2021 is maintained; total revenue SEK 680 – 750 million1,2,
    whereof product sales SEK 620 – 680 million, and operating result SEK -120 – 0 million1,2

1) At constant exchange rates in January 2021.
2) Excluding US$35 million milestone payment on approval of Brixadi™ in the US.

Financial summary second quarter 2021

  • Total Revenue MSEK 138 (81)
     - whereof product sales MSEK 137 (76)
  • OPEX MSEK 179 (102)
  • Operating result MSEK -60 (-23)
  • Result for the period MSEK -48 (-20)
  • Results per share, before and after dilution, of SEK -0.89 (-0.39)
  • Cash position MSEK 422 (222)

Fredrik Tiberg, President and CEO:
“Camurus had a productive second quarter with increasing revenues, new regulatory approvals, progress in the development portfolio, and the publication of strong data in leading scientific journals. Product sales increased by 80% compared to the same quarter in 2020, and 10% compared to the first quarter of this year. The increase was weaker than expected, due to the continued impact of the COVID-19 pandemic on our markets in Europe and Australia. We expect to return to planned growth in the second half of the year as restrictions ease and Buvidal is launched in new markets. In the US, we are now looking forward to the possibility of Brixadi becoming available to US patients by the end of the year after the FDA set a target date for approval to December 15, 2021.”

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 camurus.com or via external link: https://financialhearings.com/event/13366

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 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, 2021.

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