Orexo (ORX) ABGSC Investor Days summary

Strategic focus and technology

• AmorphOX® technology underpins current and future pharmaceutical development, enabling improved bioavailability, stability, and needle-free delivery for both small and large molecules.

• Three strategic focus areas: exploring new applications, developing proprietary projects, and partnering to maximize value and access.

• Pipeline includes GLP-1 agonists, vaccines, and rescue medications, with AmorphOX® central to new formulations.

Product pipeline and development milestones

• Izipry™ for opioid overdose is approaching FDA resubmission in Q3 2026, with US commercialization partnerships planned.

• OX640 for anaphylaxis targets a global market over $6 billion, with pivotal trials and partnering opportunities expected in 2027-2028.

• OX390, addressing Tranq overdoses, is primarily BARDA-funded with up to $51 million.

• GLP-1 nasal semaglutide formulation shows promising bioavailability and stability; further in-vivo and human studies are planned.

Financial position and outlook

• SEK 334 million in cash at Q1 2026, with additional funding from Zubsolv® US divestment, BARDA, royalties, and potential milestones.

• R&D OPEX run rate is SEK ~250 million/year, with significant external expenses needed for OX640 completion by 2028.

• Partnership and out-licensing expected to offset R&D costs and provide new revenue streams.