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Camurus (CAMX) investor relations material
Camurus Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Record Q3 revenue of SEK 724m, up 28% YoY, and operating result of SEK 322m, up 40%; no milestone revenue was recorded in the quarter.
Record product sales of SEK 582m were led by Buvidal; Brixadi royalties grew, and quarter-end cash was SEK 4,353m.
FDA review of the CAM2029 acromegaly NDA resubmission and Oczyesa approvals in Australia and Canada advanced the pipeline.
Financial highlights
Q3 product sales were SEK 582m, including Buvidal at SEK 574m and Oczyesa at SEK 8m; royalties were SEK 137m.
Operating expenses rose 20% YoY to SEK 356m; R&D costs increased to SEK 142m, mainly reflecting SORENTO progress.
9M revenue was SEK 1,959m and operating result SEK 783m; excluding Lilly license revenue, 9M revenue grew ~13% and operating result ~14%.
Q3 profit before tax was SEK 341m and net income SEK 270m; diluted EPS was SEK 4.53 vs. SEK 3.24 a year earlier.
Outlook and guidance
FY 2026 revenue guidance remains SEK 2.6bn–2.9bn and operating result SEK 0.9bn–1.2bn; both are expected in the upper half of the ranges.
2026 incremental U.S. launch-related spend is now ~SEK 100m vs. SEK 200m planned; additional R&D spend is ~SEK 50m vs. SEK 150m, with deferred spend moving to 2027.
2027 operating margin was framed at 44%–50%; reaching 50% may be difficult as U.S. expansion and R&D investment increase.
SORENTO topline results are expected in Q1 2027; CAM2056 Phase 2b obesity study results are expected in H1 2028.
- Buvidal growth and late-stage pipeline progress support a strong outlook.CAMX
Company presentation - Buvidal growth and pipeline progress support a strong 2025 outlook.CAMX
AGM 2025 presentation - Commercial growth and three potential 2026 catalysts underpin the next stage of expansion.CAMX
AGM 2026 presentation - Buvidal and Brixadi expand as CAM2029 approaches key regulatory milestones.CAMX
Company presentation - Growing opioid-treatment sales and advancing CAM2029 toward multiple potential approvals.CAMX
Company presentation - Buvidal growth and positive CAM2029 results underpin strong FY 2025 guidance.CAMX
Company presentation - Buvidal growth and CAM2029 milestones drive the 2024–25 expansion agenda.CAMX
Company presentation - Buvidal growth and CAM2029 milestones anchor a five-fold revenue ambition for 2027.CAMX
Company presentation - Buvidal growth and CAM2029 progress support expansion and FY2025 growth guidance.CAMX
Company presentation
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