Camurus (CAMX) Jefferies Global Healthcare Conference summary

Company overview and recent progress

• Rapidly growing commercial-stage company focused on long-acting injectables for opioid dependence, with a robust pipeline advancing from early stage to registration.

• Profitable since 2022, maintaining a strong financial position with SEK 2.3 billion in cash and no debt.

• Leadership established in opioid dependence treatment with Buvidal/Brixadi, showing strong sales growth in Europe, Australia, and recent momentum in the U.S.

• Building a U.S. commercial organization for the upcoming CAM2029 launch.

• Ongoing contract formulation development for third parties when opportunities are attractive.

Commercial performance and market expansion

• Achieved 37% year-over-year growth in Q1 2024, with profit nearing SEK 100 million.

• Buvidal/Brixadi has 70% market share in Finland and over 25% in Australia, with proven superior outcomes over standard care.

• European sales have grown at a 106% CAGR over five years; U.S. sales and royalties tripled last quarter.

• Targeting 100,000 patients treated by 2027 and peak sales above $1 billion in the U.S.

• Growth strategy includes deeper market penetration, expansion in large countries, and shifting patients from methadone to long-acting treatments.

Pipeline and regulatory milestones

• CAM2029, a long-acting octreotide, is in registration for acromegaly, with U.S. launch targeted for late 2024/early 2025.

• Phase 3 studies in acromegaly (ACRINOVA 1 and 2) completed or ongoing, with positive results and NDA review underway.

• GEP-NET phase 3 study fully recruited, top-line results expected in H1 2025; largest somatostatin analog study in this indication.

• Polycystic liver disease trial results expected early 2025.

• Positive preclinical data for once-monthly semaglutide GLP-1 candidate; phase 1 trial planned.