Camurus (CAMX) Life Science Investor Conference presentation summary

Business profile and strategy

• Commercial-stage portfolio led by Buvidal and Brixadi for opioid dependence, supported by the FluidCrystal technology platform and a diversified late-stage pipeline.

• Strategy centers on expanding Buvidal and Brixadi, advancing R&D, pursuing business development, and driving operational excellence and sustainable profitability.

• Vision 2027 targets fivefold revenue growth to SEK 4.5bn, US commercial infrastructure, approvals for four pipeline programs, and an operating margin around 50%.

Commercial performance

• More than 56,000 patients were receiving Buvidal in Europe and Australia at end-Sep 2024; 2023 sales reached MSEK 1,299, with 106% CAGR since its first launch in 2019.

• Target is more than 100,000 Buvidal patients in 2027; four marketing authorization and several pricing and reimbursement applications were under review.

• Brixadi launched in the US in Sep 2023; Q3 2024 royalties were MSEK 58, up 30% QoQ (39% at CER), with peak market potential above USD 1bn.

Pipeline and clinical progress

• CAM2029 is in late-stage development for acromegaly, gastroenteropancreatic neuroendocrine tumors (GEP-NET), and polycystic liver disease (PLD).

• In ACROINNOVA 1, 77.2% of CAM2029 patients versus 37.5% on placebo achieved IGF-1 ≤1 ULN; superiority p=0.00018, with improved treatment convenience and patient-reported outcomes.

• Positive 52-week ACROINNOVA 2 topline results reinforced long-term safety and effectiveness; patients rolling over from placebo regained IGF-1 control on CAM2029.

• SORENTO recruitment completed with 332 patients across 12 countries; POSITANO randomized 71 patients and assesses CAM2029 in PLD.

• Near-term priorities include CAM2029 approval decisions in acromegaly, US launch readiness for Oclaiz, topline results from POSITANO and SORENTO, and advancing long-acting incretins.