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Camurus’ Interim Report Second Quarter 2023

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“Outstanding second quarter with strong revenue growth, record result, FDA approval and positive phase 3 results”

Second quarter summary

April - June

  • Total revenues amounted to SEK 674 (227) million, an increase of 197% (185% at CER1), whereof product sales were SEK 305 (225) million, an increase of 36% (32% at CER1)
  • Compared to previous quarter, product sales increased 8%
  • Operating result was SEK 376 (7) million, an increase of SEK 369 million
  • Cash position at the end of the quarter was SEK 654 (428) million, an increase of SEK 226 million (53%)
  • Number of patients treated with Buvidal® increased with approximately 3,000 to 42,000 at the end of the quarter
  • FDA approval of Brixadi™ weekly and monthly depot for the treatment of opioid use disorder in the US resulting in a milestone revenue of USD 35 million recognized in the quarter
  • Positive Phase 3 results for octreotide subcutaneous depot (CAM2029) from ACROINNOVA 1 in patients with acromegaly
  • Patient recruitment completed in Rhythm’s Phase 3 study of setmelanotide weekly depot for the treatment of genetic obesity disorders, including Bardet Biedl’s syndrome
  • Camurus Inc. operational in the US
  • Alberto M. Pedroncelli, MD, PhD, assumed the role as new Chief Medical Officer and member of Camurus’ executive management team

January - June

  • Total revenues amounted to SEK 958 (447) million, an increase of 114% (105% at CER1), whereof product sales were SEK 587 (427) million, an increase of 37% (33% at CER1)
  • Operating result was SEK 450 (12) million, an increase of SEK 438 million
  • Camurus reiterates 2023 financial outlook with total revenues and profit before taxes expected in the mid to high end of current guidance2

Significant events after the period

  • Positive results from Phase 3 long-term study of CAM2029 in patients with acromegaly, ACROINNOVA 2

Financial summary second quarter 2023

  • Total revenue MSEK 674 (227)
     - whereof product sales MSEK 305 (225)
  • OPEX MSEK 270 (196)
  • Operating result MSEK 376 (7)
  • Result for the period MSEK 301 (8)
  • Results per share, after dilution, of SEK 5.24 (0.14)
  • Cash position MSEK 654 (428)

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

Fredrik Tiberg, President and CEO:
“Camurus had a very successful second quarter with positive topline Phase 3 results for CAM2029 for treatment of acromegaly and an FDA approval of Brixadi for the treatment of opioid use disorder in the US as key highlights. Additionally, we strengthened our market leading position in opioid dependence treatment in Europe, MENA and Australia with strong growth and record Buvidal sales in the quarter. Based on our success with Buvidal, we see a large potential for Brixadi in the US market with currently close to two million people in medication assisted treatment. The product will be launched by our US licensing partner Braeburn in September, 2023.”

Audiocast
Financial analysts and media are invited to attend a telephone conference and presentation of the results today at 2.00 pm (CET). The conference call can also be followed by a link on www.camurus.com or via external link: https://financialhearings.com/event/46215

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 dependence, pain, cancer, and endocrine disease, 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, at 07.00 am CET on 18 July, 2023.

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