Photocure ASA ( (PHCUF) ) has released its Q3 earnings. Here is a breakdown of the information Photocure ASA presented to its investors.
Photocure ASA is a company specializing in transformative solutions for bladder cancer, manufacturing and commercializing Hexvix/Cysview, which aids in the detection and resection of non-muscle invasive bladder cancer. It operates primarily in the uro-oncology sector with a focus on North America and Europe.
In the third quarter of 2024, Photocure reported a solid financial performance with a 12% increase in Hexvix/Cysview revenues, reaching NOK 120.1 million. The company saw growth in both its European and North American segments, along with a significant rise in EBITDA to NOK 5.0 million, reflecting a 40% increase from the previous year.
Key financial metrics highlighted include a 12% rise in unit sales in Europe and a 6% increase in North America. The company’s strategic partnership with Richard Wolf GmbH aims to develop advanced blue light cystoscopy equipment, while market authorization for Hexvix in China marks a significant milestone. Photocure also maintained stable operating expenses by optimizing its commercial franchise.
Looking ahead, Photocure remains optimistic, reiterating its 2024 financial guidance. The company expects product revenue growth between 6% and 9%, with continued positive EBITDA and further installations of its Saphira™ towers in the U.S., positioning the company for future growth in the bladder cancer treatment market.
