Photocure: Results from 2015
Oslo Cancer Cluster member Photocure had a great year in 2015 with increased sales. Photocure is a Norwegian specialty pharmaceutical company focused on photodynamic technologies in cancer and dermatology, listed on the Oslo Stock Exchange.
Highlights include:
(Numbers in brackets and comparisons are for the corresponding period in 2014.)
- Hexvix/Cysview global in-market sales increased 22% to NOK 59 million in the fourth quarter and 20% for the full year to NOK 215 million. Full year in-market unit sales increased 7%
- Sales revenues increased 34% in fourth quarter. Full year sales revenues increased 31% to NOK 122.3 million (NOK 93.6 million)
- Commercial segment EBITDA increased 70% to NOK 28.7 million (NOK 16.8 million) with EBITDA margin at 21% (17%) for the full year
- Visonac® phase 2b clinical trial results published in the British Journal of Dermatology
- Cash and cash equivalents of NOK 134 million as of 31 December 2015
President & CEO Kjetil Hestdal comments: “Throughout 2015, we made great strides towards our goal of building Photocure into a Specialty Pharma Company. Consistent with 2014, we continued to drive revenue growth in all major regions in 2015, while continuously increasing the profitability of our urology focused commercial franchise. Hexvix/Cysview market share continues to grow in the TURB segment across the major markets, and we have started a substantial effort to penetrate the large bladder cancer surveillance segment. Through new partnerships signed in 2015, Hexvix/Cysview will expand into Canada, Australia and New Zealand.
We also continued advancements in our product pipeline this past year. With Cevira, we gained alignment with the US FDA on the pivotal registration program. In addition, the long term value of our novel late stage, phase 3 ready assets, Cevira and Visonac, were further strengthened with issuance of new patents.”
