Camurus Ab (publ) Stock Earnings Reports

Camurus reported a solid Q2 2026 with total revenues of SEK 702 million (up 4% YoY, 32% sequentially) and an operating result of SEK 293 million (42% margin). Product sales reached a record SEK 528 million driven by strong Buvidal performance (net sales SEK 524 million; 12% YoY, 24% sequential) and continued growth in Brixadi U.S. royalties (up 42% YoY). Estimated patients on Buvidal rose to ~77,000, and management remains on track for a 100,000 patient objective by end-2027. Oczyesa rollout in Europe is underway, with early launches in Germany and Sweden. The FDA issued a Complete Response Letter (CRL) for Oclaiz (CAM2029) in June; management says the CRL relates to third-party GMP manufacturing observations and not to clinical efficacy/safety, and remediations have been completed with a potential 2026 resubmission opportunity. SORENTO (GEP‑NET) remains a key near-term catalyst, with target event-driven PFS readout expected around Q4 2026. CAM2056 (monthly semaglutide depot) phase II‑B is planned to start H2 2026 after a positive FDA Type B meeting; Lilly expanded the collaboration to include amylin receptor agonists. Camurus ended the quarter with SEK 4.1 billion cash, no debt, and will allocate incremental SEK 200 million to commercial expansion (notably U.S.) and SEK 150 million to R&D, funded from cash flow; full-year guidance was reiterated despite the CRL. Management emphasized multiple upcoming catalysts (SORENTO readout, CAM2056 start, Oclaiz resubmission) and maintained a focus on commercial execution, pipeline advancement, partnerships, and disciplined capital allocation.