Full Year 2024 Gubra A/S Earnings Call Transcript
Key Points
- Gubra AS (FRA:PI3) experienced a strong performance in 2024 with a 31% revenue growth in its CRO service business, surpassing initial expectations.
- The company maintains solid EBIT margins of 30% in the service business, slightly higher than anticipated.
- Gubra AS has established partnerships with 16 out of the top 20 pharmaceutical companies, showcasing its high-quality and specialized expertise.
- The company is advancing its UCN2 program for healthy weight loss, with pre-clinical talks ongoing and plans for a phase one study late this year or early next year.
- Gubra AS has a new partnership with Amylyx to develop a long-acting GLP-one receptor antagonist for post-bariatric hyperglycemia and other rare diseases.
- The company only secured one new partnership in its DNP business, which was within the expected range but on the lower end.
- Gubra AS plans to limit the growth in CRO revenue to 10-20% in 2025 to focus more on its internal pipeline, which may impact short-term revenue growth.
- The company is increasing its R&D costs significantly, with total costs expected to rise to DKK230 million to DKK250 million in 2025.
- There is uncertainty regarding the exact format and details of the upcoming data release for the GUBamy program in April.
- Gubra AS faces a competitive labor market, which could impact its ability to attract and retain talent as it ramps up its operations.
Good day and welcome to the Gubra earnings release Q4 2024. (Operator Instructions)
Thank you. I'd now like to welcome Henrik Blou, CEO, to begin the conference. Henrik, over to you.
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Thank you very much, operator, and welcome to everyone on this call. Today, we'll be presenting the annual report 2024. And I'm Henrik. I'm the CEO of Gubra, and I also have with me Louise Dalboge, our Chief Scientific Officer; and Kristian Borbos, our Chief Financial Officer. So Gubra is a research powerhouse. We have a core research engine. And we are specialized in pre-clinical research within metabolic diseases.
This core research engine we can use to deliver research services, CRO to external customers and the other part of the business, with DNP that is where we are using the core research engine to advance our own internal pipeline programs. So we've been growing steadily over many years, actually 30% yearly revenue growth over a very long period of time.
And now we
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