Q4 2024 Nanoform Finland Oyj Earnings Call Transcript
Key Points
- Nanoform Finland PLC (STU:4YL) achieved a record number of new customer projects signed in 2024, indicating strong market interest and engagement.
- The company plans to launch its first nanoform medicine, Nanoenzalutamide, in the US by 2027 and in the EU by 2028, which is expected to drive income growth.
- Nanoform expanded its market presence into Japan, establishing a sales partnership with CBC Japan, which enhances its global reach.
- The company has a strong pipeline with 52 customers and 96 projects, including collaborations with 11 major pharma companies.
- Nanoform's technology platforms, including STARMAP for AI and nano formulation platforms, are gaining traction, with significant interest in biologics technology for high concentration biologics and inhaled delivery.
- Despite signing a record number of projects, revenue growth was only 8% in 2024, partly due to many projects being signed late in the year.
- Operating free cash flow showed only a small improvement, and the company plans to focus on improving cash flow and reducing cash burn in 2025.
- The company faces challenges in accelerating the development and partnership processes for its product kernels, although it is learning from past experiences.
- There is uncertainty regarding the cost and investment needs for the biologics side, as the company plans to partner for necessary investments.
- The pivotal study for Nanoenzalutamide involves shared costs within a consortium, which may limit Nanoform's control over the study's financial aspects.
Good afternoon all and a warm welcome to Nanoform's fourth quarter and full year 2024 report presentation. My name is Henry von Hartmann, and I am your director of Investor relations. Today our CEO Edward Haeggstrom, CFO Albert Haeggstrom, CCO Christian Jones, and CDO Peter Hanninen will present to you.
(Operator Instructions)
With these words, our CEO, founder, Professor Edward Haeggstrom, please go ahead.
Thank you very much, Henry, and welcome also on my behalf. Next slide, please. So our key strategy which we have been executing for the last five years is really that all-star map all APIs, the active pharmaceutical ingredients out there should be start mapped. This allows us to see where the technology platform works. We work together with customers and partners to enable novel and existing molecules to become new and improved medicines.
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