Photocure ASA · OSL:PHO
Photocure ASA — FY2006 Earnings Presentation
24 slides from Photocure ASA's earnings presentation, Feb 28, 2007
Slide 1: Full Year 2006
Brilliance in photodynamic technology TM Full Year - 2006 28 February 2007 Kjetil Hestdal, President & CEO and Christian Fekete, CFO
Slide 2: Hexvix commercialisation gaining momentum
Hexvix commercialisation gaining momentum Licensing agreement with GE Healthcare Hexvix introduced in Europe Increased sales of Metvix Metvix revenue increased 42% in 2006 to MNOK 51.6 Metvix launched in Brazil and Latin America Metvix approved in France Metvix approved for Bowen s disease in EU Imp
Slide 3: Brilliance in photodynamic technology
Brilliance in photodynamic technology TM
Slide 4: Financial statements - profit & loss 4Q and 2006 (group)
Financial statements - profit & loss 4Q and 2006 (group) Revenues of MNOK 98.5 in Q4 and MNOK 210.3 in 2006 Net profit of MNOK 54.5 in Q4 and MNOK 84.7 in 2006 2006 2005 2004 Q4 2006 Q4 2005 1.1-31.12 1.1-31.12 1.1-31.12 22 154 13 012 Sales revenues 61 667 38 007 36 855 76 363 3 908 Signing fee and
Slide 5: Financial statements - segment information Q4 (group)
Financial statements - segment information Q4 (group) Sales revenues increase 70% to MNOK 22.1 in Q4 Income statement - geographical distribution (Amounts in NOK 1000) 4Q06 4Q05 Un- Un- Nordic ROWallocated Total Nordic ROWallocated Total Sales revenue 7 620 14 535 22 154 6 266 6 747 0 13 013 Milesto
Slide 6: Financial statements - segment information 2006 (group)
Financial statements - segment information 2006 (group) Sales revenues increase 62% to MNOK 61.7 in 2006 Income statement - geographical distribution (Amounts in NOK 1000) 2006 2005 Un- Un- Nordic ROW allocated Total Nordic ROW allocated Total Sales revenue 22 028 39 639 0 61 667 17 155 20 853 0 38
Slide 7: Financial statements - balance sheet 31.12.2006 (group)
Financial statements - balance sheet 31.12.2006 (group) Cash and cash equivalents of MNOK 335 per 31.12.2006 Total equity of MNOK 327 per 31.12.2006 2006 2005 Figures in NOK 1,000 31.12 31.12 Intangible assets 780 0 Machinery & equipment 2 178 2 708 Inventory 9 784 12 943 Receivables 27 595 17 725 C
Slide 8: Hexvix - a breakthrough in bladder cancer diagnostics
Brilliance in photodynamic technology TM ® - a breakthrough in bladder cancer diagnostics
Slide 9: Licensed to GE Healthcare, recommended in new European guidelines
Licensed to GE Healthcare Recommended in new European guidelines Introduced in Germany, Austria, France, Spain, Portugal and the UK. Established price of 400 per kit 9
Slide 10: Market Factors
Market Factors Increasing percentage of population that are elderly (bladder cancer is most prevalent in men aged >65) 5th most common cancer type 3 Frequent recurrences (50-70%) 1 Most expensive cancer per patient ($96-187K) 2,3 High mortality (> 50%) of advanced disease 1 Heney NM, et al. Superfic
Slide 11: Differentiation, market, goals and competition
Differentiation Hexvix is the only product of its kind. Hexvix cystoscopy detects 67% more lesions and 30% more patients than white light cystoscopy - allowing for better patient management. Market Hexvix is competing in the TURB market, growing at 4.1% year. The TURB market will increase in line wi
Slide 12: Hexvix opportunity
Patient presents with hematuria Urine test/ IVP - + Watch Cystoscopy - + Other TURB EU 480K + Bladder cancer Hexvix follow-up opportunity 12
Slide 13: Audience and key messages
Audience Key messages Urologists detects 30% more patients with bladder cancer detects 67% more CIS lesions improves management in 1 in 5 patients Payors is cost-effective is the only licensed product of its type is proven to be effective with a well-controlled clinical programme Patients and improv
Slide 14: Metvix - treatment of skin cancer without scarring
Brilliance in photodynamic technology TM ® ® - treatment of skin cancer without scarring
Slide 15: Sold by Galderma outside the Nordic countries
Sold by Galderma outside the Nordic countries Approved for AK, BCC and Bowen s disease Studies presented showing Metvix efficacy in organ transplant patients 15 million patients diagnosed with AK annually in EU/US 15
Slide 16: European AK/BCC market and D market
European AK/BCC market European D market (value USD 2.8 billion) 210 2.4% growth (05-06) 198 mill 200 Strong European 190 AK/BCC pharmaceutical market 19.3% growth Million 180 170 mill (05-06) 170 Strong Metvix revenue 160 growth of 55% outside 150 the Nordic region (05- 2005 2006 06) Topical treatm
Slide 17: Acne, cervix, colon and PCI Biotech
Brilliance in photodynamic technology TM - acne, cervix, colon and PCI Biotech
Slide 18: Acne market and need for treatment
Each year US doctors register ~ 3 million visits concerning acne, app. 70% of these have moderate to severe acne Market for topical treatment of moderate to severe acne USD 1.3 billion per year Existing treatments have significant side effects Photocure has a patented technology in Acne patient befo
Slide 19: Acne phase I/II study and next steps
First phase I/II study completed in Canada in 2006 3 publications in leading academic journals showing the effect on MAL PDT in acne patients in 2006 Meetings with regulatory bodies in EU/US - IND opened in US Confirmative phase II study with 200 patients in US started in Jan 07 Illustration of Phot
Slide 20: Cervix - treatment of HPV infection and premalignant lesions
Cervix - treatment of HPV infection and premalignant lesions Medical need for effective treatment of HPV infection and premalignant lesions Large patient population: 3.5 million females have cellular abnormalities in the US POC study completed in 24 patients First phase I/II study started: dose find
Slide 21: High medical need for early detection of colon cancer
High medical need for early detection of colon cancer 13 million colonoscopies performed annually in EU/US Inadequate methods available today: 22% miss rate on polyps 62% miss rate on flat lesions Huge endoscopy variation First phase I/II study started: dose-finding 2 centres in Germany approx. 30 p
Slide 22: PCI light-directed drug delivery technology
PCI is a light-directed drug delivery technology that is able to deliver therapeutic molecules in a Light biologically active form into diseased cells. The drug is activated PCI Biotech has a proprietary photochemical locally by illumination internalisation technology (PCI). (e.g. a tumour) Patent g
Slide 23: Continue investing in Metvix and Aktilite
Continue investing in Metvix and Aktilite Support Galderma in strengthening Metvix/Aktilite in dermatology Seek Aktilite approval in the US Commercialise Hexvix Support GE Healthcare in introducing Hexvix in EU Seek Hexvix approval in the US Continue clinical development in acne, cervix, colon and P
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