Calliditas Interim Report January to June 2024
April to
- Net sales amounted to
SEK 559.8 million , of which TARPEYO® net sales amounted toSEK 493.4 million , for the three months endedJune 30, 2024 . For the three months endedJune 30, 2023 , net sales amounted toSEK 269.4 million , of which TARPEYO net sales amounted toSEK 259.2 million . - Operating loss amounted to
SEK 31.5 million andSEK 75.2 million for the three months endedJune 30, 2024 , and 2023, respectively. However, expenses related to the Asahi Kasei offer and expenses related to provisions for social security contribution for incentive programs were included in the second quarter, totalingSEK 101.7 million . Excluding these expenses, the adjusted operating profit1 amounted toSEK 70.2 million for the three months endedJune 30, 2024 . - Loss per share before and after dilution amounted to
SEK 0.88 andSEK 1.71 for the three months endedJune 30, 2024 , and 2023, respectively. - Cash amounted to
SEK 797.3 million andSEK 866.2 million as ofJune 30, 2024 , and 2023, respectively.
January to
- Net sales amounted to
SEK 855.3 million , of which TARPEYO® net sales amounted toSEK 771.6 million , for the six months endedJune 30, 2024 . For the six months endedJune 30, 2023 , net sales amounted toSEK 460.7 million , of which TARPEYO net sales amounted toSEK 444.9 million . - Operating loss amounted to
SEK 235.3 million andSEK 255.2 million for the six months endedJune 30, 2024 , and 2023, respectively. However, expenses related to the Asahi Kasei offer and expenses related to provisions for social security contribution for incentive programs were included in the second quarter, totalingSEK 101.7 million . Excluding these expenses the adjusted operating loss1 amounted toSEK 133.6 million for the six months endedJune 30, 2024 . - Loss per share before and after dilution amounted to
SEK 5.47 andSEK 5.21 for the six months endedJune 30, 2024 , and 2023, respectively.
Key takeaways from Q2, 2024
- In April, Calliditas read out positive data from the Nefecon Open Label Phase 3 Extension trial.
- In May, Calliditas read out positive topline results from the setanaxib Phase 2 trial in head and neck cancer.
- In May, Calliditas' partner Everest Medicines announced the commercial launch of Nefecon in
China . - In May, Calliditas' partner
STADA received a positive CHMP opinion recommending full approval for Kinpeygo® in EU for the treatment of IgA nephropathy. - In June, Calliditas announced the issuance by the United States Patent and Trademark Office (USPTO) of a new patent for setanaxib for treatment of cancer. The patent will have an expiration date in 2039.
Key events after the reporting period
- In July, Calliditas partner
STADA receivedEuropean Commission decision for full approval of Kinpeygo® for the treatment of IgA Nephropathy. - In July, Calliditas announced positive TRANSFORM Phase 2b topline data in primary biliary cholangitis.
- Asahi Kasei Corporation announced on
May 28, 2024 , a public cash offer to acquire all shares in Calliditas forSEK 208 in cash per share (SEK 416 in cash per ADS). The Offer represents a premium of 83 per cent compared to the closing price of the Shares on Nasdaq Stockholm onMay 27, 2024 . - The acceptance period of the offer commenced on
July 18, 2024 , and expires onAugust 30, 2024 , subject to any extensions.
Outlook 2024: Updated
Calliditas expects continued revenue growth: Total net sales from the Nefecon franchise, including milestones, are estimated to be
Investor Presentation
Today, 13 August at
Link to webcast:
https://ir.financialhearings.com/calliditas-therapeutics-q2-report-2024
To participate via conference call register via this link:
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For further information, please contact:
Åsa Hillsten, Head of IR & Sustainability, Calliditas
Tel.: +46 76 403 35 43, Email: asa.hillsten@calliditas.com
The information in the report is information that Calliditas is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was sent for publication, through the agency of the contact person set out above, on
1Management uses and presents IFRS results as well as the non-IFRS measure of adjusted operating profit to evaluate and communicate its performance. While non-IFRS measures should not be construed as alternatives to IFRS measures, management believes non-IFRS measures are useful to further understand Calliditas's current performance, performance trends, and financial condition. Adjusted operating profit is defined as IFRS operating profit (loss), less provisions for social security contributions for incentive programs and advisor fees for the Asahi Kasei public offer. A reconciliation of adjusted operating profit to operating profit (loss), which is the most directly comparable IFRS measure, is set forth on page 31 of the attached report.
About Calliditas
Forward Looking Statements
This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding Calliditas' strategy, business plans, revenue and other financial projections, and focus. The words "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "target" and similar expressions are intended to identify forward-looking statements, although not all forward looking statements contain these identifying words. Any forward-looking statements in this Press Release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this Press Release, including, without limitation, any related to Calliditas' business, operations, commercialization of TARPEYO, Kinpeygo and Nefecon, clinical trials, supply chain, strategy, goals and anticipated timelines for development and potential approvals, competition from other biopharmaceutical companies, revenue and product sales projections or forecasts, including 2024 total net sales guidance and cash runway, all statements regarding the public offer by Asahi Kasei Corporation, profitability and other risks identified in the section entitled "Risk Factors" in Calliditas' reports filed with the
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