Gubra (GUBRA) Investor presentation summary

Strategic highlights and business model

• Focuses on AI-driven peptide discovery, preclinical CRO services, and venture creation, leveraging deep expertise in peptides and preclinical research.

• Operates through Biotech, CRO, and Ventures units, each contributing to value creation and growth.

• Maintains a strong liquidity position with a $1bn market cap and a foundation for innovation across therapeutic areas.

• Commits 10% of pre-tax profit to sustainability initiatives.

Financial performance and outlook

• Achieved record revenue of DKK 2.6bn and net profit of DKK 1.7bn in 2025, with DKK 1bn returned to shareholders.

• Biotech segment revenue surged to DKK 2,444m in 2025, driven by a major AbbVie deal; adjusted EBIT reached DKK 2,193m.

• CRO segment saw a 13% revenue decline to DKK 193m and EBIT margin drop to 15% due to lower activity among small biotech clients.

• 2026 guidance projects 5–15% growth in Biotech and 10% annual growth in CRO, with continued investment in R&D and ventures.

Pipeline and R&D highlights

• Pipeline includes multiple high-value assets in obesity, cachexia, rare diseases, and hypoparathyroidism, with strong partnering capabilities.

• Out-licensed ABBV-295 (long-acting amylin analog) to AbbVie in a $2.2bn deal, with $350m upfront; Phase 1 MAD study showed -9.8% weight loss.

• Advanced triple agonist BI 3034701 with Boehringer Ingelheim, entering Phase 2 in 2026, demonstrating favorable safety and efficacy.

• GUB-UCN2, a novel CRHR2 agonist, entering clinic in H1 2026, targets high-quality weight loss and muscle preservation.