Camurus’ Interim Report January-March 2023

“A strong quarter with solid organic growth, both top and bottom line”

Summary first quarter 2023

January – March

• Total revenues amounted to SEK 284 (220) million, an increase of 29% (24% at CER¹), whereof product sales were SEK 282 (202) million, an increase of 40% (35% at CER¹)
• Revenue and product sales increased 6% compared to previous quarter
• Operating result was SEK 74 (5) million, an increase of SEK 69 million
• Cash position at the end of the quarter was SEK 586 (400) million, an increase of SEK 186 million (47%)
• Number of patients treated with Buvidal^® increased with 3,000 to 39,000 at the end of the quarter
• Market authorization of Buvidal in the United Arab Emirates (UAE)
• Price and reimbursement approval of Buvidal in Greece and UAE
• CAM2038 variation application for the treatment of chronic pain withdrawn by Camurus
• Last dose administrated in the Phase 3 study of CAM2029 in acromegaly, ACROINNOVA 1
• Patient recruitment in CAM2029 Phase 3 study SORENTO in GEP-NET reached 50%
• Camurus’ license partner Rhythm completed patient recruitment in a Phase 3 study of setmelanotide weekly depot for the treatment of genetic obesity disorders
• Financial outlook for 2023 maintained; total revenues of SEK 1,530-1,650 million and profit before taxes of SEK 425-525 million²

Event after the period

• Alberto M. Pedroncelli appointed as Chief Medical Officer and member of the executive management team

Financial summary first quarter 2023

• Total revenue MSEK 284 (220) 
  - whereof product sales MSEK 282 (202)
• OPEX MSEK 184 (189)
• Operating result MSEK 74 (5)
• Result for the period MSEK 59 (-1)
• Results per share, after dilution, of SEK 1.02 (-0.01)
• Cash position MSEK 586 (400)

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 an excellent start to the year with strong sales growth, significantly increased result, and continued progress in our pivotal clinical programs. Product sales of Buvidal for the treatment of opioid dependence increased by 40 percent compared to last year, and we achieved approvals in new markets. In our pivotal Phase 3 study of CAM2029, the final doses were administered to patients with acromegaly, and topline results are expected late June.”

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/46214

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 10 May, 2023.