Q1 2019 Results Presented by: René Goehrum · Q1 2019 Sales Summary • Q1 2019 total...
Transcript of Q1 2019 Results Presented by: René Goehrum · Q1 2019 Sales Summary • Q1 2019 total...
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Q1 2019 ResultsMay 29, 2019
Presented by:
René Goehrum
President and CEO
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Disclaimer
This presentation is for informational purposes only and should not be consideredas an offer to buy or sell securities. No stock exchange has either approved ordisapproved of the information that is contained in this presentation. Thispresentation may contain forward-looking statements within the meaning ofCanadian Securities legislation and the forward-looking statements containedherein are made as at the date of this presentation and, accordingly, are subject tochange after such date. Undue reliance should not be placed on such statements.These statements involve a number of risks and uncertainties including statementsregarding the outlook for BioSyent Inc., business and operational results.
By nature, these risks and uncertainties could cause actual results to differmaterially from what has been indicated. Factors that could cause actual results todiffer materially from any forward-looking statement include, but are not limited to,failure to obtain governmental regulatory approvals, product recalls, competitionfrom similar products and other factors including those risks and uncertaintiesidentified above.
BioSyent Inc. undertakes no obligation to update publicly or otherwise revise anyforward-looking information as a result of new information, future results or othersuch factors which affect this information, except as required by law.
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Q1 2015 Q1 2016 Q1 2017 Q1 2018 Q1 2019
CA
D (
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Sales EBITDA NIAT
+1%
-14%
-19%
Sales, EBITDA and NIAT
Quarter Ended March 31st
• 35 consecutive profitable quarters
Q1 2019 vs. Q1 2018 Sales- Canadian Pharma +13%- International Pharma -100%- Legacy Business +80%
- following declines in Q1 2018, Q1 2017 sales
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Domestic Sales International Sales
Pharmaceutical Sales By Quarter
- Canadian pharma sales +13% in Q1 ‘19 vs. Q1 ‘18- Nil International Pharma Sales in Q1 2019 after 16 consecutive quarters of sales
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Q1 2019 Sales Summary
• Q1 2019 total pharmaceutical sales of $4.27 million decreased 1% vs. Q1 2018
• Q1 2019 Canadian pharmaceutical sales of $4.27 million increased 13% over
Q1 2018
• Q1 2019 vs. Q1 2018 Canadian pharma sales volumes (units):
• 7 of 9 operational hospital sites re-ordered Cysview® in Q1 2019 resulting
in YoY growth
• 12 additional Canadian hospital sites in implementation or evaluation stages
Product Q1 ‘19 vs. Q1 ‘18
FeraMAX® 150 +6%
FeraMAX® Powder +2%
RepaGyn® +7%
Cathejell® -14%
Aguettant System® +232%
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Q1 2019 Sales Summary (continued)
• Q1 2019 International FeraMAX® sales of $nil compared to sales of $0.57
million in Q1 2018
• Size and frequency of international shipments affected by ongoing trade
restrictions
• Quarterly variability in sales will continue
• Fulfillment of 2019 international customer orders in progress for Q2/Q3 delivery
• Q1 2019 Legacy Business sales of $0.21 million increased by 80% versus Q1
2018
• Following successive Q1 declines in Protect-It® sales in 2018 and 2017
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• April 2019: Received Notice of Deficiency from Health Canada for
cardiovascular products
• May 2019: Received approval from Health Canada
for Tibella® Rx women’s health product
• May 2019: FeraMAX® named #1 recommended iron supplement brand in
Canada for 4th consecutive year
• Recommended #1 by 41% of physicians and by 50% of pharmacists surveyed
Activity Subsequent to Q1
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• Rx women’s health product consisting of tibolone
• For short-term treatment of vasomotor symptoms resulting from
estrogen deficiency in postmenopausal women
• Will compete against estrogen/progesterone products in $200 million*
hormone replacement therapy market segment in Canada
• 4.8% YoY market growth*
• 2020 Launch
* source: IQVIA market data for the 12 months ended December 2018
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Product Portfolio and Product Cycle
(Notice of Deficiency received from Health Canada)
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Normal Course Issuer Bid (NCIB)
• NCIB approved by TSX-V December 3, 2018 for repurchase of up to
950,000 RX common shares over 12 mos
• Total Shares repurchased and cancelled to date: 433,668
• 92,168 - Dec 2018
• 220,900 - Q1 2019
• 120,600 – Apr/May 2019
• Fully diluted shares reduced to 14,275,800 May 24, 2019
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AS AT March 31, 2019 December 31, 2018
ASSETS
Trade and other receivables $ 2,197,430 $ 2,115,293
Inventory 1,991,709 1,483,392
Prepaid expenses and deposits 409,834 300,821
Derivative asset 72,966 27,344
Cash, cash equivalents and short-term investments 22,458,933 24,425,101
Current Assets 27,130,872 28,351,951
Equipment 329,181 271,785
Intangible assets 1,935,119 1,942,682
Loans receivable 579,774 576,929
Deferred tax asset 42,410 45,144
TOTAL NON CURRENT ASSETS 2,886,484 2,836,540
TOTAL ASSETS $ 30,017,356 $ 31,188,491
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities $ 2,685,040 $ 3,213,777
Deferred tax liability 372,097 369,052
Long term debt - -
Total Equity 26,960,219 27,605,662
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 30,017,356 $ 31,188,491
BioSyent Inc.
Consolidated Statements of Financial Position
Balance Sheet Snapshot
Zero Long-Term Debt
Cash and ST investments -8% from Dec. 31, 2018
(including NCIB investment)
Continuing to build Balance Sheet for
deployment opportunities
Equity Reduced by $1,704,801 upon
repurchase of 220,900 shares under NCIB during
quarter
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$14,045
$19,640
$22,459
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10,000
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20,000
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2017 2018 2019
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Q1 Cash Generation (“CG”)
CG: +$305
CG: +$301
CG: ($1,966)
- NCIB Share Repurchases- Corp Tax Payment
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Return on Equity (“ROE”)
and Cash Balance
Mar 31, 2019 TTM Return on Average Equity Net of Cash and ST Investments: 134%
$9,715
$13,739
$19,338
$24,425
$22,459
37%
30%
27%
23%22%
0%
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10%
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25%
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2015 2016 2017 2018 TTM Mar 31, 2019
RO
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Year
Cash and ST Investments Balance Return on Average Equity
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Fully Diluted Earnings Per Share
$0.38
TTM EPS Growth 0%
Last 8 Quarters Annual
$0.38
$0.22
$0.26
$0.30
$0.36
$0.39
$0.20
$0.25
$0.30
$0.35
$0.40
2014 2015 2016 2017 2018
Quarter NIAT Diluted EPS
Q1 2019 $ 978,181 $ 0.07
Q4 2018 $1,671,410 $ 0.11
Q3 2018 $1,270,613 $ 0.09
Q2 2018 $1,620,233 $ 0.11
Q1 2018 $1,143,130 $ 0.08
Q4 2017 $1,457,228 $ 0.10
Q3 2017 $1,294,575 $ 0.09
Q2 2017 $1,552,918 $ 0.11
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Stock Information
May 24, 2019
Exchange & Trading Symbol TSXV: RX
May 24, 2019 Closing Stock Price (CAD) $8.15
52 Week Hi/Low: $10.26 / $6.52
Common Shares: 14,097,015
Options: 178,785
Fully Diluted: 14,275,800
P/E Ratio (TTM): 21.00
P/B Ratio: 4.26
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Thank you
www.BioSyent.com
www.sedar.com
www.tmxmoney.com
www.BioSyentPFS-System.ca
www.Cathejell.ca
www.CYSVIEW.ca
www.FeraMAX.com
www.Proktis-M.ca
www.RepaGyn.ca