Camurus’ Interim Report Third Quarter 2023

“Strong financial performance and launch of Brixadi™ in the US”

Third quarter summary 2023

July - September

• Total revenues amounted to SEK 384 (241) million, an increase of 59% (49% at CER¹), whereof product sales were SEK 346 (241) million, an increase of 44% (38% at CER¹)
• Compared to previous quarter, product sales increased 13% (9% at CER¹)
• Operating result was SEK 104 (41) million, an increase of SEK 63 million (154%)
• Cash position at the end of the quarter was SEK 1,154 (520) million, an increase of SEK 634 million (122%)
• Number of patients treated with Buvidal^® increased to approximately 45,000
• The European Commission issued continued marketing authorization for Buvidal with unlimited validity
• Brixadi™ launched for the treatment of patients with opioid use disorder (OUD) in the US
• Camurus received USD 35 million from Braeburn as a one-time payment for the US approval of Brixadi
• Positive results were announced from the long-term Phase 3 study of CAM2029 in patients with acromegaly
• Publication of population pharmacokinetic analyses of Buvidal in Clinical Pharmacokinetics²

January - September

• Total revenues amounted to SEK 1,342 (688) million, an increase of 95% (86% at CER¹), whereof product sales were SEK 933 (668) million, an increase of 40% (35% at CER¹)
• Operating result was SEK 554 (53) million, an increase of SEK 501 million (945%)

Significant events after the period

• Financial outlook for full year 2023 revenue was raised from SEK 1,530 – 1,650 million to SEK 1,640 – 1,720 million and profit before taxes from SEK 425 – 525 million to SEK 525 – 600 million
   

Financial summary third quarter 2023

• Total revenue SEK 384 (241) million 
  - whereof product sales SEK 346 (241) million
• OPEX SEK 253 (184) million
• Operating result SEK 104 (41) million
• Result for the period SEK 86 (35) million
• Earnings per share after dilution, of SEK 1.50 (0.61)
• Cash position SEK 1,154 (520) million

1. At constant exchange rates
2. Björnsson, M., et al. Clin Pharmacokinet. 2023;62:1427-1443
 

Fredrik Tiberg, President and CEO:
“Camurus had an excellent third quarter with continued high sales growth in Europe and Australia, launch of Brixadi™ in the US, and positive interim results from a long-term Phase 3 study of CAM2029 for the treatment of acromegaly. Our US licensing partner Braeburn initiated the launch of Brixadi for the treatment of opioid use disorder which resulted in both a significant milestone payment and the first royalty revenue for Camurus. Topline revenue growth during the quarter was close to 60 percent and as a result of the positive development, we raised the financial guidance for the full year 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 at www.camurus.com or via external link: https://financialhearings.com/event/46216

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 9 November, 2023.