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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Calliditas Therapeutics
Calliditas Therapeutics (CALTX) investor relations material
Calliditas Therapeutics has been acquired by Asahi Kasei Corp
Calliditas Therapeutics Q2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2024 earnings summary13 Aug, 2024
Executive summary
Achieved record Q2 2024 net product revenues, with TARPEYO sales reaching $46.3 million (SEK 493.4 million), a 90% year-over-year increase, and Nefecon franchise sales around $53 million.
Operational profitability was reached, excluding one-time costs related to the Asahi Kasei offer and incentive provisions.
Positive clinical milestones: phase III NefIgArd study concluded, phase II proof-of-concept in head and neck cancer and primary biliary cholangitis showed significant results, and phase IIb PBC trial met primary endpoints.
Asahi Kasei announced a public cash offer to acquire all shares at SEK 208 per share, an 83% premium, with board recommendation and major shareholder support; acceptance period runs through August 30, 2024.
Full approval of Kinpeygo in Europe and commercial launch of Nefecon in China marked key milestones.
Financial highlights
Q2 2024 net revenues were SEK 559.8 million, up from SEK 269.4 million year-over-year; TARPEYO net product sales were SEK 493.4 million ($46.3 million), a 90% increase from Q2 2023.
Adjusted operating profit was SEK 70.2 million, but reported operating loss was SEK 31.5 million due to SEK 101.7 million in one-time costs.
Cash position at June 30, 2024 was SEK 797.3 million, with cash burn of SEK 7 million in Q2.
Gross profit for Q2 2024 was SEK 506.3 million, and operating expenses were SEK 537.8 million.
Cash flow used in operating activities for Q2 2024 was SEK 7.0 million, a significant improvement from SEK 163 million in Q2 2023.
Outlook and guidance
Full-year 2024 revenue guidance for the Nefecon franchise raised to $165 million–$185 million, up from previous guidance.
Expectation of continued operating profitability for the remainder of the year, excluding deal-related costs.
Anticipate further revenue growth from TARPEYO and Nefecon, supported by expanded market access, full approvals, and upcoming KDIGO guideline updates.
EUR 10 million milestone payment expected in Q3 from Kinpeygo's full approval in Europe.
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Frequently asked questions
Calliditas Therapeutics AB, a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing pharmaceuticals products for treatments in orphan indications with initial focus on renal and hepatic diseases. Its lead product candidate is Nefecon that is in Phase III clinical trial for the treatment of immunoglobulin A nephropathy. Calliditas Therapeutics AB was founded in 2004 and is headquartered in Stockholm, Sweden.