Orexo (ORX) Seminar Presentation summary

Business overview and strategy

• Focuses on developing and commercializing improved pharmaceuticals using proprietary drug delivery technologies, with a strong US presence and global partnerships across multiple therapeutic areas.

• Committed to tackling opioid misuse, advancing drug delivery innovation, and expanding global therapeutic impact.

• Home to highly skilled scientists and a collaborative, inclusive workplace culture.

• Over 30 years of experience in pharmaceutical development and innovation.

• Novo Holdings is the largest shareholder with a 28% stake.

Financial performance and position

• Q1 2025 saw stable Zubsolv sales and positive EBITDA, with net revenues of SEK 146.2m and gross profit of SEK 125.5m.

• Strong cash generation from US commercial operations, with SEK 119m in cash and SEK 30m invested in a corporate social bond.

• Zubsolv has generated significant accrued net sales since 2013.

• Operates in over 25 approved markets with four innovated products, three based on the sublingual platform.

• Longstanding partnerships with major pharma companies and a solid financial backbone.

Product portfolio and pipeline

• Commercial products include Zubsolv (OUD), Abstral (breakthrough cancer pain), and Edluar (insomnia), all using the sublingual platform.

• Pipeline features OX124 (naloxone, opioid overdose), OX125 (nalmefene, opioid overdose), OX390 (NCE, overdose), and OX640 (adrenaline, anaphylaxis), all leveraging the AmorphOX platform.

• OX124 is in the registration phase, targeting synthetic opioid overdoses, with FDA resubmission expected mid-2026.

• OX640 is in clinical phase for emergency allergic reactions, showing superior absorption and shelf life, with ongoing global partnering.

• Collaborates with Abera to develop nasal powder vaccines using AmorphOX, with promising preclinical results for influenza.