Photocure ASA · OSL:PHO
Photocure ASA — Q3 2007 Earnings Presentation
20 slides from Photocure ASA's earnings presentation, Oct 26, 2007
Slide 1: Third quarter 2007
Brilliance in photodynamic technology TM Third quarter 2007 October 26th, 2007
Slide 2: Hexvix commercialisation on track
Hexvix commercialisation on track Denmark and Germany gaining momentum Hexvix revenue from GE Healthcare increased to MNOK 3.5 (2.8) Hexvix revenue increased to MNOK 1.1 (0.8) in the Nordic region Metvix on track in the Nordic region Metvix revenue from Galderma decreased 17% to MNOK 6.0 Metvix reve
Slide 3: Brilliance in photodynamic technology
Brilliance in photodynamic technology TM
Slide 4: Sales revenues in Q3 increased by 7% to MNOK 15.6
2007 2006 2006 Q3 2007 Q3 2006 1.1-30.09 1.1-30.09 1.1-31.12 15 565 14 575 Sales revenues 51 665 39 513 61 667 3 908 3 908 Signing fee and milestone revenues 19 845 72 290 148 653 19 474 18 483 Total revenues 71 511 111 803 210 320 -3 374 -4 053 Cost of products sold -14 359 -11 462 -22 251 16 100 1
Slide 5: Q3 2007 results by Nordic, ROW and R&D
(Amounts in NOK 1000) Q3 2007 Q3 2006 Nordic ROW R&D* Total Nordic ROW R&D* Total Sales revenue 6 061 9 504 0 15 565 4 549 10 025 0 14 575 Milestone revenue 0 3 908 0 3 908 0 3 908 0 3 908 Total revenues 6 061 13 412 0 19 474 4 549 13 933 0 18 483 Cost of goods sold 559 2 815 0 3 374 425 3 628 0 4 0
Slide 6: Year-to-date 2007 results by segment
(Amounts in NOK 1000) 01.01-30.09.07 01.01-30.09.06 Nordic ROW R&D* Total Nordic ROW R&D* Total Sales revenue 19 439 32 227 0 51 665 14 409 25 104 0 39 513 Milestone revenue 0 19 845 0 19 845 0 72 289 0 72 289 Total revenues 19 439 52 072 0 71 511 14 409 97 393 0 111 802 Cost of goods sold 1 925 12
Slide 7: Net cash flow from operations of MNOK -30.2 in Q3
Cash Flow Statement (all amounts in NOK 1,000) 2007 2006 2006 Q3 2007 Q3 2006 1.1-30.09 1.1-30.09 1.1-31.12 -23 621 -11 815 Income/loss(-) before tax -58 662 30 197 84 730 -7 271 -715 Other operational items -13 353 -26 066 -18 359 -30 892 -12 530 Net cash flow from operations -72 015 4 131 66 371 -
Slide 8: Hexvix - a breakthrough in bladder cancer diagnostics
Brilliance in photodynamic technology TM ® - a breakthrough in bladder cancer diagnostics
Slide 9: Development in key value drivers
Development in key value drivers: Establish reimbursement and coding Ongoing Increase base of scopes Ongoing Train urologists Ongoing Recent events: Favourable health economy 4 Hexvix posters at ISPOR, Ireland Documentation of clinical benefit Reported phase III study in July Symposium with 300 part
Slide 10: Hexvix launch status by country
Nordic Spain UK Italy Germany France Launched 2006 2007 2007 2007 2006 2007 Specialist YES NO YES YES YES YES sales force Blue light 35 25 10 25 165 15 scopes (estimate) Activities Q3 DK, new Increased outplacement of blue light equipment coding 1.1.08 Successful SIU symposium and DGU conference FI,
Slide 11: Complete the phase III study for FDA
- Task: Complete the phase III study and include the additional requests from FDA. Independent panel read of histology from previous studies for supportive documentation Milestones: Complete inclusion in phase III study Q3 2007 - OK Complete follow-up in phase III study Q3 2008 Submit complete respo
Slide 12: Ny teknik giver bedre behandling af blærekræft
Ny teknik giver bedre behandling af blærekræft 2007-10-24 Urologisk afdeling på Herlev har oplevet et fald på op til 60 pct. i antallet af operationer på grund af tilbagefald hos patienter med blærekræft. Lægerne på urologisk afdeling på Herlev Hospital har i løbet af to år gennemført 400 behandling
Slide 13: Metvix - treatment of skin cancer without scarring
Brilliance in photodynamic technology TM ® ® - treatment of skin cancer without scaring
Slide 14: Metvix and Aktilite recent events
Overall: Aktilite NDA classified as fileable by FDA Separate Metvix symposium at World Congress of Dermatology in with 500 participants Galderma: Started preparations for launch in France and US Initiated in-depth business review with Galderma top management Nordic: Price increase in Sweden from Oct
Slide 15: Metvix market share in EU
Metvix market share in EU Metvix market share for AK/BCC 2007 (patients) 20 % 7% 3% 2% 2% 1% Nordic Spain UK Germany Italy France Source: Photocure estimate
Slide 16: Pipeline - acne, HPV/cervix, colon and PCI Biotech
Brilliance in photodynamic technology TM - acne, HPV/cervix, colon and PCI Biotech
Slide 17: Progress in the Phase IIb clinical study
Progress in the Phase IIb clinical study Multi-center study in the US Dose finding - placebo-controlled 87/190 patients included Report scheduled for 2008 Phase I study in Canada to remove occlution procedure and reduce lightdose 24/40 patients included Test of prototype lamps ongoing Preclinical pr
Slide 18: Phase I/II study ongoing
Phase I/II study ongoing: dose finding Norway and Germany 65/68 patients included plan to add 24 patients 6 month follow-up report scheduled for H2 2008 Development of new light source started Development new formulation ongoing Conducting market analysis with focus groups and KOL interviews Started
Slide 19: Phase I/II study ongoing: oral formulation
Phase I/II study ongoing: dose-finding 2 centres in Germany 33/37 patients included report scheduled for 2007 Started development of oral formulation Conducting market analysis with focus groups and KOL interviews Started partnering presentations 19
Slide 20: Preparing the first clinical study
Preparing the first clinical study Toxicology and safety pharmacology studies ongoing Clinical protocol accepted by the Norwegian Authorities (SLV) Updated business plan Updated business model and strategy to include siRNA Prepared action plan to deliver the strategy and build value Search started f