BioArctic (BIOA) SEB Healthcare Seminar Presentation summary

Strategic focus and leadership in neurodegenerative diseases

• Specializes in neurodegenerative disorders with large unmet needs and patient populations.

• Recognized for world-class R&D and strong collaborations, including a long-term partnership with Eisai.

• Leqembi is the first fully approved disease-modifying therapy for Alzheimer's, now a global standard of care.

• Broad project portfolio spans Alzheimer's, Parkinson's, ALS, and enzyme replacement therapies.

• Financially robust, supported by milestone payments and 9% royalties on global Leqembi sales.

Product and pipeline highlights

• Leqembi fully approved in the US, Japan, China, South Korea, Great Britain, and more; pending in additional markets.

• Pipeline includes multiple assets in various stages for Alzheimer's, Parkinson's, ALS, and Gaucher disease.

• Brain Transporter technology enables delivery of biotherapeutics to the brain, validated in non-human primates.

• Exidavnemab Phase 2a initiated in Parkinson's, with plans to include MSA patients.

• Several projects leverage highly selective antibodies targeting aggregated toxic proteins.

Commercial performance and financials

• Leqembi US sales below expectations, but strong growth in Japan and China offset the shortfall.

• Q3-24 global Leqembi sales reached ¥10B (~$67M), up 66% from Q2-24; royalties up 64% to SEK 69.8M.

• Infusion capacity bottlenecks in the US, with expansion planned to address patient backlog.

• Eisai revised FY 2024 forecast downward, but mid- and long-term outlooks remain unchanged.

• 2023 operating profit was SEK 253M, with a cash position of ~SEK 0.8B.