The following is a summary of the Clinuvel Pharmaceuticals Limited (CLVLY) Q2 2023 Earnings Call Transcript:

Financial Performance:

• Clinuvel Pharmaceuticals reported a 15% increase in total revenue and other income in Q2 2023 compared to the same period in 2022. Commercial sales and sales reimbursement revenue grew by 9.9%.

• Expenses rose by 28% to reflect the expanded activities of the group.

• Profit before tax rose 1% to 14.8 million, but profit after tax declined by 4% to 10.9 million leading to an EPS of 22.1 cents due to increased tax expense.

• The balance sheet at the end of June 2023 showed an 8.5% increase in net asset position to 178.6 million, and 211.7 million in total assets.

• Cash and term deposits grew 11% to 174.5 million Australian dollars.

Business Progress:

• Growth in revenue use through treatments in both Europe and the USA has been underpinned by an increase in the number of treatment centers and the patient retention rate.

• Clinuvel invested in UK property assets to accommodate its growing European workforce.

• Clinuvel aims to expand via rigorous R&D efforts after 2025, with planned CapEx in future office facilities in other business-sensible areas.

• Significant strides are being made in various areas, including vitiligo, DNA repair, stroke, and porphyria.

• Anticipated clinical results and several updates expected from Clinuvel's various projects throughout the year, demonstrating their future growth and expansion plans.

More details: CLINUVEL PHARMACEUTICALS LTD SPON ADR EA REP 1 ORD NPV IR

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