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Investing.com -- Shares of Camurus AB climbed 5% following the company’s fourth-quarter earnings release, which revealed a 2% revenue beat and a 23% profit before tax (PBT) beat compared to consensus estimates.
The positive market response comes after the pre-announcement on January 23rd, with final figures showing fourth-quarter revenues reaching SEK553 million, driven by strong performance from its drug Buvidal.
The Swedish pharmaceutical company reported that fourth-quarter royalties from Brixadi amounted to SEK83 million, marking a significant 43% increase from the third quarter. This surge is attributed to the drug’s growing market share, which now approaches 25% of the US buprenorphine long-acting prescription market.
Meanwhile, Buvidal sales rose by 11% sequentially to SEK469 million, with the treatment now reaching 60,000 patients due to increased penetration in several European markets and a dominant 80% market share in Australia’s long-acting injectable opioid dependence market.
Camurus also highlighted the postponement of launch activities for Oclaiz in acromegaly due to pending approval, which contributed to lower than expected selling, general, and administrative expenses. The company is currently addressing regulatory requirements and expects to resubmit the New Drug Application (NDA) for Oclaiz in the first half of 2025.
Looking ahead, Camurus anticipates significant clinical data readouts in the coming years. The Phase 3 data for CAM2029 in gastroenteropancreatic neuroendocrine tumors (GEP-NET) is expected in late 2025 or early 2026, while Phase 2/3 data for CAM2029 in polycystic liver disease (PLD) is due in the second quarter of 2025.
Additionally, the company has initiated a Phase 1 study for its once-monthly GLP-1 candidate, CAM2056, with results anticipated in the second half of 2025.
Despite the upbeat fourth-quarter results, Camurus provided a 2025 outlook that met revenue expectations but fell 7% short on PBT projections compared to consensus. The company’s cash position remains strong at SEK2.9 billion, which supports its ongoing development programs and commercial activities.
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