Camurus (CAMX) Company presentation summary

Company overview and financial performance

• Rapidly growing commercial-stage company with leadership in opioid dependence treatment and a unique FluidCrystal technology platform.

• Commercial infrastructure established in Europe and Australia, expanding to the US.

• Achieved 21% revenue growth to SEK 2.3 billion in 2025, with profit before tax up 69% to SEK 933 million.

• Sustainable profitability since 2022 and strong cash position of SEK 3.9 billion at end-Q1 2026.

• 2026 revenue outlook of SEK 2.6–2.9 billion and operating result of SEK 0.9–1.2 billion, excluding potential licensing revenues.

Key products and market expansion

• Buvidal for opioid dependence leads in Europe and Australia, with 73,000 patients treated by end-2025 and >80% share in Australia.

• Brixadi royalties grew 87% in 2025, with 44% net revenue growth in Q1 2026 and ~32% share of US LAIB segment.

• Oczyesa, a long-acting octreotide depot for acromegaly, launched in Germany in November 2025, with rapid uptake and planned rollouts in additional European markets.

• Oclaiz US launch planned for mid-2026, with commercial team and infrastructure ready.

R&D pipeline and clinical progress

• Broad pipeline includes late-stage programs in acromegaly, GEP-NET, polycystic liver disease, chronic pain, and metabolic diseases.

• CAM2029 (octreotide SC depot) targets three rare diseases; positive Phase 3 results in acromegaly and GEP-NET, and Phase 2 in PLD.

• SORENTO Phase 3 trial in GEP-NET fully recruited, with data readout expected H2 2026.

• CAM2056 (monthly semaglutide) showed superior weight and HbA1c reduction vs. weekly semaglutide in Phase 1b; Phase 2b to start H2 2026.

• Early-stage collaborations with Eli Lilly (long-acting incretins) and Gubra (PTH analogs) progressing, with significant milestone and royalty potential.