Photocure ASA · OSL:PHO
Photocure ASA — Q2 2006 Earnings Presentation
18 slides from Photocure ASA's earnings presentation, Aug 15, 2006
Slide 1: PhotoCure ASA Second quarter 2006
PhotoCure ASA Second quarter - 2006 August 15th 2006
Slide 2: Highlights Second Quarter 2006
Highlights Second Quarter 2006 GE Healthcare exercised an option to market and distribute Hexvix® in the US in July. This triggered a milestone payment of EUR 9 million. PhotoCure settled the patent dispute with DUSA pharmaceuticals. Sales revenue in second quarter amounted to NOK 11.7 million
Slide 3: Financial statements
Financial statements
Slide 4: Financial Statements - Profit & Loss (group)
Financial Statements - Profit & Loss (group) (all amounts in NOK 1,000 except per share data) Three months ended 2006 2005 2005 Total revenue + 53 % in 30.06.2006 30.06.2005 01.01 - 30.06 01.01 - 30.06 01.01 - 31.12 11 653 8 874 Sales revenues 24 938 17 673 38 007 Q2 and + 226 % in 1H. 7 843 3 908
Slide 5: Financial Statements - Segment Information (group)
Financial Statements - Segment Information (group) Income statement - geographical distribution (Amounts in NOK 1000) 2Q06 2Q05 Nordic revenue + 1 % Un- Un- in Q2 due to inventory Nordic ROW allocated Total Nordic ROW allocated Total variations. Sales revenue 4 149 7 504 11 653 4 106 4 768 0 8 874
Slide 6: Financial statements - Balance Sheet (group)
Financial statements - Balance Sheet (group) Balance Sheet (all amounts in NOK 1,000) 2006 2005 2005 30.06 30.06 31.12 Cash and cash equivalents Machinery & equipment 2 879 1 906 2 708 MNOK 282.9 per 30.6.06. Total fixed assets 2 879 1 906 2 708 Currrent assets Total assets MNOK 325.9 Inventory
Slide 7: Financial statements - Cash Flow Statement (group)
Financial statements - Cash Flow Statement (group) Cash Flow Statement (all amounts in NOK 1,000) Three months ended Six months ended 2005 30.06.2006 30.06.2005 30.06.2006 30.06.2005 01.01 - 31.12 -958 -7 165 Income/loss(-) before tax 42 012 -20 259 -38 474 -9 -12 Interest paid -18 -32 -63 -14 544 -
Slide 8: Metvix and Aktilite - treatment of skin cancer without scarring
Metvix® and Aktilite™ - treatment of skin cancer without scarring
Slide 9: Metvix - Nordic sales increase of 13 % in units in Q2
Metvix - Nordic sales increase of 13 % in units in Q2 Metvix Sales in Units - Nordic 2004 - 2006 Highlights: 5000 Sales revenues for Metvix/Aktilite was 4500 MNOK 3.6 in Q206 down from NOK 4000 4.1 million in Q205. 3500 3000 Sales increase in Metvix units to end- Units 2500 user of 13 % in Q206
Slide 10: Metvix - Galderma sales increase of 31 % in units in Q2
Metvix - Galderma sales increase of 31 % in units in Q2 Metvix Sales in Units - Galderma 2004 - 2006 Highlights: 10000 Sales revenues for Metvix/Aktilite 8000 was NOK 7.3 million in Q206, vs NOK 4.6 million in Q205, an 6000 increase of 57 %. Units 4000 2000 Sales increase in units of 31 % in Q20
Slide 11: Expanding the Metvix market opportunity
Expanding the Metvix market opportunity Preparing the US launch for Metvix – Settled the patent dispute with DUSA pharmaceuticals – Two phase III studies for Aktilite ongoing in EU/US Working closely with Galderma on sales and marketing programs – Galderma plan to introduce Metvix/Aktilite in Br
Slide 12: Hexvix - a breakthrough in bladder cancer
Hexvix® – a breakthrough in bladder cancer
Slide 13: Research & Development - exploring PhotoCure technology
Research & Development - exploring PhotoCure technology
Slide 14: Progress in clinical development programs
Progress in clinical development programs MAL PDT in acne Goal: A new topical treatment of moderate to sever acne Market: Current prescription market: 1.4 billion USD/year Status: Proof-of-concept (POC) study showed efficacy in target group and one ongoing phase I/II study to be completed in 3Q06
Slide 15: 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 approximately that malignant lesions and HPV infections were treated in 70% of the wom
Slide 16: Goals and milestones
Goals and milestones
Slide 17: Significant progress made in second quarter
Significant progress made in second quarter Settled patent dispute with DUSA pharmaceuticals – Signed a licensing agreement related to Metvix, Hexvix and future products based on ALA derivatives New milestones achieved – National regulatory and price approval for Hexvix in Spain – GE Healthcare
Slide 18: 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