Photocure ASA · OSL:PHO
Photocure ASA — Q3 2006 Earnings Presentation
22 slides from Photocure ASA's earnings presentation, Oct 27, 2006
Slide 1: Third quarter 2006
Third quarter - 2006 October 27th 2006
Slide 2: Highlights Third Quarter 2006
Highlights Third Quarter 2006 GE Healthcare exercised an option to market and distribute Hexvix® in the US. This triggered a milestone payment of EUR 9 million to be booked in 4th quarter. Hexvix® launched in Germany by GE Healthcare. Metvix® launched in Brazil and Metvixia® approved in France. Firs
Slide 3: Financial statements
Financial statements
Slide 4: Financial Statements - Profit & Loss (group)
Financial Statements - Profit & Loss (group) Three months ended 2006 2005 2005 30.09.2006 30.09.2005 All figures in NOK 1,000 01.01 - 30.09 01.01 - 30.09 01.01 - 31.12 14 575 7 322 Sales revenues 39 513 24 994 38 007 3 908 3 908 Signing fee and milestone revenues 72 290 11 725 15 634 18 483 11 230 S
Slide 5: Financial Statements - Segment Information (group)
Financial Statements - Segment Information (group) Income statement - geographical distribution (Amounts in NOK 1000) 3Q06 3Q05 Un- Un- Nordic ROWallocated Total Nordic ROWallocated Total Sales revenue 4 549 10 026 14 575 2 891 4 431 0 7 322 Milestone revenue 0 3 908 3 908 0 3 908 0 3 908 Total reve
Slide 6: Sales revenues +57% in the Nordic region in Q3
Financial Statements - Sales revenues +57 % in the Nordic region in Q3 Nordic revenue vs 2005 Highlights: 10 000 Sales revenues was MNOK 4.5 in NOK 000 5 000 Q306 vs MNOK 2.9 in Q305 (+57%). 0 1 2 3 4 Sales revenues YTD was MNOK 14.4 2006 5 710 4 149 4 549 0 vs MNOK 10.9 in 05 (+32%). 2005 3 891 4 1
Slide 7: Sales revenues +126% outside the Nordic region in Q3
Financial Statements - Sales revenues + 126 % outside the Nordic region in Q3 ROW revenue vs 2005 Highlights: 20 000 Sales revenues was MNOK 10.0 in NOK 000 10 000 Q306 vs MNOK 4.4 in Q305 (+126%). 0 Sales revenues YTD was MNOK 25.1 1 2 3 4 vs MNOK 14.1 in 05 (+78%). 2006 7 575 7 504 10 026 0 2005 4
Slide 8: Financial statements - Balance Sheet (group)
Financial statements - Balance Sheet (group) 2006 2005 2005 Figures in NOK 1,000 30.09 30.09 31.12 Machinery & equipment 3 594 2 273 2 708 Financial fixed assets - - - Inventory 13 524 14 591 12 943 Receivables 31 533 20 999 17 725 Cash & cash equivalents 271 474 80 975 72 329 Total assets 320 124 1
Slide 9: Financial statements - Cash Flow Statement (group)
Financial statements - Cash Flow Statement (group) Three months ended Nine months ended 2005 30.09.2006 30.09.2005 30.09.2006 30.09.2005 01.01 - 31.12 -11 815 -4 842 Income/loss(-) before tax 30 197 -25 101 -38 474 -6 -18 Interest paid -24 -50 -63 -709 -14 223 Other operational items -26 042 -31 962
Slide 10: Metvix and Aktilite - treatment of skin cancer without scarring
Metvix® and Aktilite - treatment of skin cancer without scarring
Slide 11: Over 35,000 Metvix tubes sold year to date to end user
Over 35,000 Metvix tubes sold year to date to end user Metvix Sales in Units - Nordic 2004 - 2006 Metvix Sales in Units - Galderma 2004 - 2006 5000 4500 10000 4000 3500 8000 3000 6000 Units U n its 2500 2000 4000 1500 1000 2000 500 0 0 Q1 Q2 Q3 Q4 1 2 3 4 Per quarter Per quarter 2004 2005 2006 2004
Slide 12: Expanding the Metvix market opportunity
Expanding the Metvix market opportunity Working with Galderma on marketing programs Metvix/Aktilite in launched in Brazil Metvixia approved in France Launched www.metvix.com Seeking Aktilite approval in the US Two phase III studies for Aktilite ongoing in EU/US
Slide 13: Metvix focus at the EADV dermatology congress
Metvix focus at the EADV dermatology congress Phase III study presented: A study on Metvix for treatment of skin dysplasia in organ transplant patients showing prophylactic effect Multiple independent sessions and workshops Confirms the establishment of PDT as standard method for treatment of NMSC P
Slide 14: The attention of AK and skin cancer is increasing
The attention of AK and skin cancer is increasing Treatment of skin cancers should not only be focused on the tumor, but also on the surrounding skin with actinic damage from which it developed ...need for greater public understanding about the link between cumulative ultraviolet (UV) radiation, AKs
Slide 15: Hexvix a breakthrough in bladder cancer diagnostics
Hexvix® a breakthrough in bladder cancer diagnostics
Slide 16: Hexvix status and plans
Hexvix status and plans GE Healthcare exercised US option. This triggered a EUR 9 million payment that will be booked in fourth quarter. Hexvix launched in Germany by GE Healthcare in September. Status NDA in US - Filed NDA in June 2005 and open - Discussing with FDA in cooperation with partners and
Slide 17: Research & Development
Research & Development - Taking photodynamic therapy and diagnostics to a new level of efficacy and precision
Slide 18: Progress in clinical development programs
Progress in clinical development programs MAL PDT in acne Goal: A new topical treatment of moderate to severe inflammatory acne Market: Current prescription market: 1.4 billion USD/year Status: First phase I/II study completed Negotiating license agreement/ positioning of acne product with Galderma
Slide 19: Progress in clinical development programs
Progress in clinical development programs Treatment of cervical dysplasia and associated HPV infections Goal: A new topical treatment of cervical dysplasia with persistent HPV infections Status: First POC showed that malignant lesions and HPV infections were treated in approximately 70% of the women
Slide 20: Goals and milestones
Goals and milestones
Slide 21: Significant progress made in third quarter
Significant progress made in third quarter Hexvix US option GE Healthcare exercised an option to market and distribute Hexvix in the US. This triggered a milestone payment of EUR 9 million. Marketing and sales of Hexvix Hexvix launched in Germany by GE Healthcare R&D results Completed the first phas
Slide 22: Strategic and operational goals
Strategic and operational goals Continue investing in Metvix and Aktilite Support Galderma in strengthening Metvix/Aktilite in dermatology Seek Aktilite approval in the US Commercialize Hexvix Support GE Healthcare in launching Hexvix Follow-up FDA and secure approval in the US Secure progress in cl