Full Year 2024 SkinBioTherapeutics PLC Earnings Call Transcript
Key Points
- SkinBioTherapeutics PLC (LSE:SBTX) reported a significant increase in revenue for the year, reaching £1.2 million, largely due to the acquisition of Derma Tonis.
- The company has successfully integrated two acquisitions, Derma Tonis and Biotech Solutions, which are expected to enhance manufacturing capabilities and expand product offerings.
- The partnership with Croda PLC has progressed to commercialization, with expectations of revenue generation before the end of the calendar year.
- Sales of Axis Biotics PS for psoriasis have doubled year-on-year, and the company is preparing for the launch of an acne product following successful consumer studies.
- SkinBioTherapeutics PLC has extended its cash runway through to summer 2026, reducing the need for additional fundraising for working capital.
- The company reported a consolidated EBITDA loss of £800,000, reflecting integration and acquisition costs.
- There are concerns about the gradual nature of revenue generation from the Croda partnership, with some investors focusing on the term 'gradual' as a potential negative.
- The use of a convertible loan note for the acquisition of Derma Tonis was criticized for being dilutive and aggressive.
- Gross margins have declined due to the mix of products and geographies, with some regions achieving lower margins.
- The company faces challenges in manufacturing a gum product for its acne treatment, which could delay its launch.
Good morning and welcome to the Skin Biotherapeutics PC Investor presentation. (Operator Instructions) Before we begin, I'd like to submit the following poll and I now like to hand over to Stuart Ashman CEO. Good morning, sir.
Good morning. Thank you. Thank you all for your time this morning. This is our, our second investor meets in less than a couple of weeks. So, yeah, we're, we're breaking the mold a little bit here. This is our presentation where we will go through the full year results that ended 30th of June 2024. We'll obviously talk in reference to some of the things that happened post year end. And we'll try to get this done in an orderly manner. I have seen a number of questions submitted and we will do as always our utmost to get through as many of those as is humanly possible.
So, on the agenda today, we have operational financial highlights and we'll go through the strategy for for the past year and the coming year. We'll do an operational review of our
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