Oxford Immunotec Company Overview

Transcription

1 Oxfrd Immuntec Cmpany Overview Baird 2017 Healthcare Cnference Rick Altieri, Chief Financial Officer Karen Kski, Head f Strategy & Investr Relatins Oxfrd Immuntec Glbal PLC 94C Innvatin Drive Miltn Park, Abingdn Oxfrdshire, OX14 4RZ, United Kingdm Cmpany Number

2 Frward-lking Statements Certain infrmatin cntained in this presentatin cnstitutes frward-lking statements, including thse related t future perfrmance and revenues, financial cnditin, prspects, grwth, strategies, expectatins and bjectives f management. Frward-lking statements can be identified by the fact that they d nt relate strictly t histrical r current facts. The preliminary financial results and frward-lking statements cntained in this presentatin reflect ur current expectatins and are subject t risks and uncertainties. Actual results may differ materially frm thse prjected r implied by frward-lking statements. Please review ur SEC filings fr mre infrmatin regarding thse factrs that culd cause actual results and events t differ materially frm thse indicated in the frward-lking statements. Our filings are available fr free by visiting EDGAR n the SEC Web site at Frward-lking statements are based n current expectatins and assumptins and currently available data and are neither predictins nr guarantees f future events r perfrmance. Yu shuld nt place undue reliance n frward-lking statements, which speak nly as f the date f this presentatin. We d nt undertake t update r revise any frward-lking statements after they are made, whether as a result f new infrmatin, future events, r therwise, except as required by applicable law. 2

3 Cmpany Prfile We are a high-grwth, glbal diagnstics cmpany Memphis, TN ODL CLIA lab LDT develpment Manufacturing Bstn, MA US Headquarters US cmmercial peratins Imugen and future ODL CLIA lab Immunetics business Tick-brne disease R&D T-SPOT, ODL and the Oxfrd Immuntec and Imugen lgs are trademarks f Oxfrd Immuntec Ltd. Immunetics is a trademark f Immunetics, Inc. Oxfrd, UK OUS Headquarters OUS cmmercial peratins Manufacturing Prduct develpment 3 UK ODL lab Shanghai, China China market develpment ffice Medical educatin, marketing, technical supprt Ykhama, Japan Japan Headquarters Japan cmmercial peratins

4 Cmmercial Prducts and Late-Stage Pipeline Brand Market Indicatin Market size 1 Cncept Feasibility Analytical Validatin Clinical Validatin Infectius disease Tuberculsis screening >$1bn Infectius disease Infectius disease Transplant / Infectius disease Lyme and ther tick-brne diseases Babesia bld screening $450m 2 TBD Cytmegalvirus $150m Cmmercial Launch 1. Estimated glbal market pprtunity. Mid-pint f ranges used (runded) 2. US nly. OUS market nt yet sized. 4

5 Financial Prfile Strng revenue grwth 5 >20% annual CC revenue grwth fr 12 straight years Recurring revenue allws us t fcus sales teams primarily n driving grwth FY 17 guidance f $ m (+21%-24% YY CC) Multiple revenue grwth drivers Prducts: TB, Tick-brne disease, Bld banking, Transplant Gegraphies: US, China, Japan Quarter-t-quarter revenue vlatility Seasnality in US and Japan Vlatility in rder patterns t distributrs Grss margins expanding 33% in 2011 t 54% in 2016 Sund financial fting ~$40m in cash as f June 30, 2017 Cmpleted ~$40M equity ffering in August 2017

6 Key Pririties Cntinue ur strng revenue grwth Cntinued penetratin f T-SPOT.TB int the >$1bn TB screening market IGRAs nly 15-20% penetrated glbally Drive penetratin f the Imugen and Immunetics tests int the $450m tick-brne diseases market Use ur cmmercial resurces t expand the awareness f ur differentiated ffering Cntinue t add additinal prducts t ur sales frce and CLIA lab infrastructure Launch f bld screening tests fr Babesia and transplant tests Cntinue t add further prducts thrugh R&D and M&A Mve cmpany twards prfitability Increase grss margins Drive leverage thrugh perating expense 6

7 Summary & Key Investment Highlights Playing in large, grwing, underserved markets Prprietary, industry-leading prducts Well develped, glbal cmmercial infrastructure Diversified, recurring revenue streams Strng revenue grwth Pathway t prfitability 7

8 Appendix Oxfrd Immuntec Glbal PLC 94C Innvatin Drive Miltn Park, Abingdn Oxfrdshire, OX14 4RZ, United Kingdm Cmpany Number

9 Q2 Earnings Call - Screcard Revenues Q2 2017: $26.1m +36% YY (+36% CC) US $16.1m +65% YY Eurpe & ROW $1.9m -2% YY (+3% CC) Asia $8.1m +9% YY (+8% CC) TiBD grwing strngly and ahead f expectatins. US TB vlumes impacted by decline in immigratin numbers. Grss margins Q % grss margin (up sequentially) Cntinued prgress n TB grss margins, ffset by new Tick-brne disease business which currently carries lwer margin than TB Making better than planned prgress n expanding Tick-brne margins t crprate average Pipeline New Rickettsia test launched T-SPOT.TB service launched at secnd site in Nrwd BLAs cntinue t prgress, FDA licensure expected arund year-end 2017 Other SSI settlement => bps expansin in grss margin in ur TB business n a g frward basis FY Guidance raised t $ m (+21-24% YY CC) 9

10 US TB Screening Market & Segments Principal screened ppulatins US market by segment Market segment by testing lcatin Segment size (tests/year) Indicative average revenue/test 2 Segment size ($ ptential) OXFD sales infrastructure Hspitals 7.0M ~$50/test ~$350M Public & Student Health 1.5M ~$50/test ~$75M Cvered by direct sales frce Physicians ffices / clinics 7.3M $75-$95/test 3 ~$620M Cvered by direct sales frce Other 1 6.0M Unknwn Unknwn Nt a fcus area currently TOTAL 22M tests >$1bn Surce: Cmpany analysis 1. Military, Crrectinal Facilities, Chrnic Care Hmes, and Other 2. Based n revenue recgnised by testing labratry 3. CMS reimbursement fr CPT is $103/test. Net cllectins will vary by payr 10