Gubra A S

So good morning and welcome to this quarterly update call from Goobra. I'm Henrik Rom. I'm the CEO of Goobra. So are we running? Seems like we are. So with me today, I have our CSO, Luise Estadbø and Christian Borbras. So... Gubra has a hybrid business model. We are experts in preclinical research within metabolic and fibrotic diseases. And over the years, we've built a core research engine. We have all the laboratories, all the test facilities and all the technologies needed to conduct these preclinical research studies. And we use this core engine to deliver or to progress our own pipeline programs. That's the discovery and partnership business. And also to deliver services to external clients, could be small biotechs and large pharma companies. We have a whole range of customers and we're actually serving 16 out of top 20 pharma companies in the world. And also, as mentioned, a range of smaller pharma companies and biotech companies as well. So today we are approximately 250 colleagues here at Gubra all gathered at one site in north of Copenhagen, Denmark. However, we also have a sales office in Boston as we have more than half of our revenue in the service business from customers located in the United States. and recent highlights we continue to show strong progress across uber so our amelin program has progressed nicely in this quarter we have completed the sad part of the program the two optional cohorts were dosed in july and august follow-up visits continued until early october and We are now expecting to release data from this part of the phase one trial later this November. Also, we were able to start up the multiple ascending dose part of the study and the dosing started in September, so a couple of months back. Our high quality weight loss program, the UCM2 program, we've also progressed and we are planning for entering this program into the clinic late next year or early 2026 and yes that program is also progressing at plan as planned we have four collaborations with bernie engelheim but we've also seen some development this quarter here so in july we could announce that Collaboration number two, a new in class triple agonist for anti-obesity treatment was started in a phase one clinical trial. And a few days back, we also announced to the market that Böhringer has told us that they will discontinue the clinical development of this collaboration number one, the NPY2 agonist. No further data available at this point in time. However, we will communicate as soon as we know the future of this program. In this quarter, we continue to see strong growth in our service business. And looking at the first nine months of the year, we've seen growing by 31% compared to the same period last year. So all in all, a very satisfactory third quarter of the year. To dive a little bit more into Grubrush core business, We've been working with metabolic and fibrotic diseases since 2008. And it started out with a key focus on diabetes and obesity. And since then, we've gradually moved into other disease areas, all in one way shape or form related to the original onset of our scientific focus. So we are quite active in the mass space, quite active in the kidney space. We have also models in the lung space with regards to CVD, intestines, the brain and so on. So a quite sophisticated set up of models where we are either to external clients or to the internal pipeline programs. And that means because we control all the parts of these studies that we are controlling quality, we're controlling speed, and that is of high value both to ourselves when we are maturing our programs, but also to our clients throughout the world.

Thank you, Henrik. And as I said, you know, we had a great start to the year and the first nine months we're up in revenue for the CRO business by a little bit more than 30%. The main drivers has been the same as we've seen in the previous course, obesity, but we also see a good take up within our kidney services. So all in all, you know, a great 2024. And of course, the obesity space, the momentum is substantial, and Guber has been in this space since the company was formed in 2018, and we're really benefiting from new compounds being tested in our models. And with the strong revenue, we also deliver very solid earnings and EBIT was up by 55% compared to the same period last year for the first nine months. And we also have an EBIT margin in the area of plus 30%, so 33% for the first nine months and 35% for the quarter in isolation. All in all, this sound and very good development we've seen in the first two quarters continued in the third quarter, and all in all, a very satisfactory performance throughout the 24.

Great. Thank you, Christian. now we are looking into the pipeline of gubra all our pipeline programs are based on peptides and we have the streamline peptide platform as a as sort of the foundation underneath our pipeline we have built this platform it's ai assisted discovery of peptides and and we can use this platform to to deliver clinical candidates at a much higher speed than we were previously capable of doing prior to developing this platform. So it really comes down to using AI to guide our peptide development, to guide the design of the peptides, to do a systematic variation all throughout the back backbone of the peptide and thereby in parallel being able to optimize for several parameters such as potency and selectivity and physical stability and chemical stability and so on. So using this platform, we have developed these 11 pipeline programs. The top four here are in collaboration with Böhringer Ingelheim. And you may recognize the small asterisk for the top program saying here that this has been discontinued by Böhringer. And as mentioned, we are awaiting further information before we can reveal more info about this program going forward. We also have a collaboration program with HEMA, biotech company that's within bleeding disorders. And then we have a range of unpartnered programs. Six of these are on this pipeline. Four of them are within obesity. The most progressed one is our group amylin program. Again, we will be able to release SAD data later this month. We are eagerly awaiting that. We also see the UCM2 high quality weight loss program. And as mentioned, a range of other programs here in the pipeline. But now let's dive into some of these programs. And Luise, please go ahead here.