Camurus AB (publ) (CAMRF) Q2 2026 Earnings Call Transcript

Camurus AB (publ) ( CAMRF ) Q2 2026 Earnings Call Transcript

Good afternoon, and welcome to Camurus's Second Quarter 2026 Results Call. Thank you for joining us. Before we begin, please take note of our forward-looking statements, which apply throughout today's presentation. Turning to the agenda. We will start with highlights, moving over to financial and commercial performance reviews before finishing with a short R&D pipeline update, key takeaways and then, of course, Q&A. With me on the call today are Anders Vadsholt, our Chief Financial Officer; and Richard Jameson, our Chief Commercial Officer. So let me start with some highlights. I'm very pleased to report a solid second quarter, marking a clear return to growth after a softer start of the year for Camurus. Total revenues were SEK 702 million, up 4% year-on-year and 32% sequentially, with an operating result of SEK 293 million, corresponding to a 42% margin and finishing with SEK 4.1 billion in cash. Commercially, product sales reached a record of SEK 528 million. It's the first time we are above SEK 0.5 billion in the quarter. Buvidal grew 12% year-on-year and 24% over the quarter. Brixadi royalties in the U.S. increased 42% and the Oczyesa launch continued in our