Norway · Delayed Price · Currency is NOK Arctic Bioscience AS Earnings Call Transcripts
Fiscal Year 2024
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Record 2024 sales and margin growth were driven by strong nutraceutical performance, especially in Europe, and supported by new funding and cost reductions. Awaiting key 12-month clinical data for HRO350, with further expansion planned in Asia and Europe.
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The phase IIb HeROPA trial for HRO350 in mild to moderate psoriasis did not meet its primary endpoint at 26 weeks due to a high placebo response, though no safety concerns were observed. Long-term efficacy and safety will be assessed at 52 weeks, with future development plans on hold pending these results.
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H1 2024 saw stable revenues, strong gross margin, and continued investment in pharma R&D, with Nutra sales growth in Norway and China. The HEROPA phase IIB trial is fully recruited, with a key data readout expected late September/early October 2024.