Salute e Benessere
Photocure ASA: Results for the second quarter of 2024
Photocure reported total group revenues of NOK 145.4 million in the second quarter of 2024 ( NOK 144.3 million ), and EBITDA* of NOK 27.8 million ( NOK 23.4 million ), driven by revenue growth and a milestone payment from Asieris for the NDA acceptance of Cevira in China . Hexvix/Cysview revenues were NOK 122.4 million in the quarter (Q2 2023: NOK 115.9 million ). The EBIT was NOK 20.7 million ( NOK 16.8 million ) and the cash balance at the end of the period was NOK 267.0 million .
Schneider adds.
At the end of the second quarter of 2024, the installed base of rigid BLC systems in the U.S. was 381, up 17% from the same period in 2023. This includes 18 mobile towers owned by ForTec Medical. In the U.S. 25 flexible BLC towers remain active. After the closing of the quarter, Photocure entered into an agreement with Richard Wolf to develop and globally commercialize a high-definition blue light flexible cystoscope.
Photocure believes that the benefits of Blue Light Cystoscopy with Hexvix /Cysview offering superior detection and management of bladder cancer will continue to be adopted and become the standard of care. The Company reiterates its 2024 financial guidance and continues to expect consolidated product revenue growth of 6% to 9% in constant currency and positive EBITDA excluding business development expenses. Photocure now expects new and upgraded Saphira™ installations in the U.S. in the range of 55 to 70 towers, up from the previous range of 40 to 70 towers for the full year.
Please find the full financial report and presentation enclosed.
EBITDA* and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as a part of the APM section of the second quarter 2024 financial report on page 25.
The quarterly report and presentation will be published at 08:00 CEST and will be publicly available at www.photocure.com. Dan Schneider , CEO and Erik Dahl , CFO, will host a live webcast at 14:00 CEST .
The presentation will be held in English and questions can be submitted throughout the event. The streaming event is available through https://channel.royalcast.com/landingpage/hegnarmedia/20240807_1/
The presentation is scheduled to conclude at 14:45 CEST .
Dan Schneider
President and CEO
Photocure ASA
Email: ds@photocure.com
Erik Dahl
Chief Financial Officer
Tel: +47 450 55 000
Email: ed@photocure.no
David Moskowitz
Vice President of Investor Relations
Tel: +1 202 280 0888
Email: david.moskowitz@photocure.com
Media and IR enquiries:
Geir Bjørlo
Corporate Communications ( Norway )
Tel: +47 91540000
Email: geir.bjorlo@corpcom.no
Photocure: The Bladder Cancer Company delivers transformative solutions to improve the lives of bladder cancer patients. Our unique technology, making cancer cells glow bright pink, has led to better health outcomes for patients worldwide. Photocure is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange (OSE: PHO). For more information, please visit us at www.photocure.com, www.cysview.com
All trademarks mentioned in this release are protected by law and are registered trademarks of Photocure ASA.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Tolv Hillestad, Group Controller, Photocure ASA, on 7 August 2024 at 08:00 CEST .
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