Q4 2024 Camurus AB Earnings Call Transcript
Key Points
- Camurus AB (FRA:7CA) achieved a total revenue of SEK553 million in Q4 2024, marking a 48% growth compared to the same period last year.
- The company reported a strong gross margin of 94% for the quarter, an improvement of 267 basis points from the previous year.
- Buvidal sales showed significant growth, with a 28% increase year-over-year and an 11% increase from the previous quarter.
- Camurus successfully established a fully operational US commercial organization, preparing for the launch of Oakla in Acromegaly.
- The company maintained a strong cash position, ending the quarter with SEK2.85 billion and no debt.
- Camurus received a complete response letter from the FDA due to issues at a third-party manufacturing facility, delaying the approval process for CAM2029 in the US.
- The company faced a temporary setback in the US regulatory review process, impacting the timeline for CAM2029's market entry.
- Operating expenses reached SEK357 million, representing a 4% decrease, but still indicating significant investment requirements.
- The estimated time for reaching the target of 194 events for the Soreto trial's primary results was updated to late 2025 or early 2026, indicating potential delays.
- The company incurred one-time expenses of SEK8 million related to a potential transaction, impacting the financial results.
Welcome to Cara's Q4 report 2024. For the first part of the conference call, the participants will be in listen-only mode during the question-and-answer session. Participants are able to ask questions by dialing pound key Five on the telephone keypad. Now we'll hand the conference over to CEO Fredrik Tiberg.
Please go ahead.
Thank you so much, Einar, and good day, everyone, and welcome to Camurus full year and fourth quarter earnings call. Before starting, please note our forward-looking statements.
So, we will begin the presentation today with a short business highlights, then review the financial performance followed by commercial and R&D updates, and of course then Q&A. As previously I'm joined in the call by Jon Garay , CFO, and Richard Jamesson, Chief Commercial Officer.
Camurus had a rewarding 2024 with good performances across the business. This resulted in high growth and profitability alongside advances of key
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