Photocure ASA · OSL:PHO

Photocure ASA — Q2 2004 Earnings Presentation

31 slides from Photocure ASA's earnings presentation, Aug 20, 2004

  1. Slide 1: PhotoCure ASA Results Second Quarter 2004

    PhotoCure ASA Presentation Results Second Quarter 2004 20th August 2004

  2. Slide 2: Highlights

    Highlights „ Metvix approved in the US „ Metvix launches initiated in Australia, Belgium and Switzerland „ Hexvix – pharmacokinetic study successfully completed and submitted – Approval expected in Sweden later this year – European filing planned later this year „ Number of Metvix units sold increas

  3. Slide 3: Metvix roll out continues

    Metvix® roll out continues

  4. Slide 4: Metvix – commercialisation continues to progress

    Metvix® – commercialisation continues to progress „ FDA approval for Actinic Keratosis received July – Will receive milestone payment of EUR 3 million from Galderma „ Launch initiated in 11 countries – PhotoCure: 5 Nordic countries – By partner Galderma: Germany, UK, Australia, Switzerland, Belgium,

  5. Slide 5: Metvix – the patient friendly treatment

    Metvix® – the patient friendly treatment Fast mode of action with superior cosmetic result Lesion preparation Metvix® application Red light illumination

  6. Slide 6: Metvix – great market opportunities

    Metvix® – great market opportunities Skin cancer (Basal cell carcinoma) „ App. 2 mill. new cases per year in EU, America, AUS & South Africa – Of which US 1 million, EU 500 000, Australia 200 000 „ Metvix the only light sensitive drug on the market Pre-cancerous skin lesions (Actinic Keratosis) „ Ap

  7. Slide 7: Metvix – continued increase in clinics providing Metvix

    Metvix® – continued increase in clinics providing Metvix® Clinics with PhotoCure lamps Initial target 180 achieved 160 Acc. number of clinics Q3 2003 140 120 Island 100 80 Finland 60 Denmark 40 Norway 20 0 Sweden 04 1 2 02 03 03 .0 .0 il. ay ay ct ov ov pr O M M N N A

  8. Slide 8: Metvix – continued increase in sales in the Nordic area

    Metvix® – continued increase in sales in the Nordic area Number of tubes sold to pharmacies 10000 9000 Moving annual total 8000 7000 6000 5000 4000 3000 2000 1000 0 01 02 02 03 03 04 20 20 20 20 20 20 4Q 2Q 4Q 2Q 4Q 2Q

  9. Slide 9: Metvix – international roll out by Galderma

    Metvix® – international roll out by Galderma „ Launches initiated in Belgium and Australia – Total number of actively marketed territories extended to 6 (i.e. Germany, UK, New Zealand and Switzerland) „ Launch preparations ongoing – Made available in Italy – To be launched in Spain later in 2004

  10. Slide 10: Metvix – continued increase in sales in Galderma's area

    Metvix® – continued increase in sales in Galderma’s area Metvix units sales - Moving annual total 10,000 8851 8,000 6769 U n i ts s o l d 6,000 4502 4,000 2573 2,000 1177 404 - 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04

  11. Slide 11: Metvix – successful expansion

    Metvix® – successful expansion Metvix continues to gain approval in all its key markets „ Approved in 21 countries – 18 European countries – USA, Australia, New Zealand „ Pending applications in 11 countries – Europe: Holland, Portugal, Poland, Czech Republic, Slovakia, Estonia, Latvia, Lithuania –

  12. Slide 12: Metvix – expanding the commercial potential

    Metvix® - expanding the commercial potential „ US approval obtained – Marketing approval for AK received on 27th July – Amendment filed for BCC - FDA response expected by the end of 2004 „ Organ transplant study completed 2Q 2004 – All 80 patients enrolled – two years follow-up – Treatment response

  13. Slide 13: Hexvix – A Breakthrough in Bladder Cancer Diagnosis

    Hexvix® – A Breakthrough in Bladder Cancer Diagnosis PhotoCure’s 1st Photo-Diagnostic (PD) agent close to 1st launch

  14. Slide 14: Hexvix – preparation finished

    Hexvix® – preparation finished Hexvix 85 mg Powder for solution for intravesical use + 50 ml Solvent for Hexvix for intravesical use Hexvix® solution - Instilled 1 hour in the bladder - Start blue light cystoscopy within 30 minutes

  15. Slide 15: Hexvix – carcinoma (in situ) detected with Hexvix only

    Hexvix® – carcinoma (in situ) detected with Hexvix® only This is what the Urologists This is what the Urologists sees with current procedure sees when adding Hexvix

  16. Slide 16: Hexvix – cystoscopy market

    Hexvix® – cystoscopy market More than 4 million 25% cystoscopies performed Operating Room every year in Europe & cystoscopies North America 1/6 cancer 50% Follow-Up cystoscopies 25 % first cystoscopies 5/6 no cancer Suspected bladder cancer

  17. Slide 17: Hexvix – positive phase III results

    Hexvix – positive phase III results „ Tree phase III studies completed with positive results – Two studies focused on detection of bladder cancer (CIS) – One study focused on change in patient management „ One additional study initiated – Detection of bladder cancer (papillary lesions) – Reduction i

  18. Slide 18: Hexvix – closer to approval

    Hexvix® – closer to approval „ Europe – Pharmacokinetic study with Hexvix completed and submitted in June – Marketing approval from Swedish Medicines Authority expected before year end 2004 – Approval in Sweden will pave way for approval from other EU/EEA countries - Filing planned later this year „

  19. Slide 19: Hexvix – Pre-launch activities underway

    Hexvix® – Pre-launch activities underway General „ Health economy study ongoing „ Clinical data published in major urology journals „ Clinical trials ongoing in Germany, France, Netherlands, Denmark, Norway „ PhotoCure will continue to present Hexvix at key European urology meetings through exhibiti

  20. Slide 20: Hexvix – Pre-launch activities underway (Nordic)

    Hexvix® – Pre-launch activities underway Nordic „ Establishing key centres in each country: off-licence use to gain experience for future KOL role „ “Mapping” all major potential customers „ Establishing close cooperation with equipment distributors (local and central) „ Training sales force „ Devel

  21. Slide 21: Research and intellectual property

    Research and intellectual property

  22. Slide 22: Detection of colon cancer – a significant market potential

    Detection of colon cancer – a significant market potential „ Fourth most frequent cancer, and cause of death – Incidence 150.000 (US) – Mortality 57.000 (US) „ High risk patients – chronic bowel inflammation (ulcerative colitis) – Estimated prevalence: 4 mill world wide – Recommended yearly colonosc

  23. Slide 23: Detection of colon cancer – positive initial data

    Detection of colon cancer – positive initial data Fluorescence colonoscopy „ A feasibility study in 10 patients with colorectal cancer completed with positive results „ Larger studies in patients with ulcerative colitis planned

  24. Slide 24: PCI Biotech AS – exploring novel drug delivery technologies

    PCI Biotech AS – exploring novel drug delivery technologies „ PCI (Photochemical Internalisation) – – proprietary technology for site-specific delivery of drugs, e.g. to tumours – drug delivery induced by illumination „ PCI makes drugs more active, and only where desired – drug side effects can be r

  25. Slide 25: PCI Biotech AS – significant progress made

    PCI Biotech AS – significant progress made „ In animal models: – PCI specifically enhance the effect of anticancer drugs, curing animals under conditions where the drugs alone are inefficient – Promising results have been obtained in cancer gene therapy „ A proprietary photosensitser for use in the

  26. Slide 26: Intellectual property

    Intellectual property „ Ruling in patent dispute with DUSA pharmaceutical and Queens University in Australia expected later this year „ Mediation agreement signed between DUSA, Queens, Galderma and PhotoCure

  27. Slide 27: Financial Statements (Group)

    Financial Statements (Group)

  28. Slide 28: Profit & Loss

    Profit & Loss Three months ended Six months ended 2003 30.06.04 30.06.03 All figures in NOK 1,000 30.06.04 30.06.03 01.01-31.12 9,607 4,236 Sales revenues 19,786 10,753 23,380 3,908 20,048 Signing fee and milestone revenues 7,817 23,957 31,774 1,182 1,045 Other operating revenues 2,445 2,090 5,150 1

  29. Slide 29: Balance Sheet

    Balance Sheet Figures in NOK 1,000 30.06.04 30.06.03 31.12.03 Machinery & equipment 2,474 3,965 3,222 Financial fixed assets 8,013 7,850 7,832 Inventory 20,251 26,147 23,167 Receivables 15,344 16,734 13,335 Securities 129,000 181,949 170,309 Cash & cash equivalents 15,819 31,278 15,536 Total assets

  30. Slide 30: Cash Flow Statement

    Cash Flow Statement All amounts in NOK 1000 Six months Six months ended ended 2002 30.06.04 30.06.03 01.01 - 31.12. Cash Flow from operating activities -41,205 -41,341 -70,507 Cash Flow from investing activities -17 -101 -1,426 Cash Flow from finanscing activities 197 5,167 8,275 Net increase (decre

  31. Slide 31: Progress towards sustained profitability

    Progress towards sustained profitability „ Metvix – US approval for AK received July – Approved in 21 countries – Launch initiated in 11 countries – Amendment filed for BCC in the US – Response expected year-end – Continued sales growth in existing markets „ Hexvix – First marketing approval expecte

PhotoCure — Q2 2004 Earnings Presentation on 6ix