10 investor questions, October 2026
Nearly two months after CT001 (sufentanil/ketamine nasal spray) became available in the US, we are pleased with the progress and positive feedback from hospital interactions. It is still too early to assess commercial success.
1. What is the immediate focus of commercial activity?
A: Our activities focus on product information and awareness, while supporting hospitals with questions and submissions to their Pharmacy and Therapeutics (P&T) committees. This helps hospitals assess the product and complete the internal steps needed before routine use.
2. How many hospital accounts have you engaged with?
A: Together with Ventis, we have engaged with approximately 50 hospital accounts. Many belong to larger hospital networks. This is an encouraging start, and feedback from discussions has been positive.
3. Which hospitals are you targeting?
A: Our initial focus is on children's hospitals and emergency departments. Over time, we may broaden our activities to other hospitals and clinics where there is a need for effective analgesia.
4. Why can physician interest take time to translate into orders?
A: Hospitals typically need to complete an internal review before routine purchasing and use. Some P&T committees meet monthly, while others meet quarterly. The process can take weeks at some hospitals and several months at others, even where physicians express strong interest.
5. How are you gathering early hospital experience?
A: We are working with a few larger accounts to establish more structured engagement and collect feedback from early experience. Our aim is to share relevant learnings with other US hospitals when suitable feedback becomes available.
6. What educational and marketing activities are planned?
A: We have marketing events and congress activities planned. In November, we plan to host our first webinar with US physicians to discuss the sufentanil/ketamine nasal spray and its potential use in hospital care.
7. What feedback have you received on pricing?
A: We have not received pricing pushback in our discussions so far. The price is at the higher end, and we will continue to assess customer feedback during the rest of 2026. We may adjust pricing at year-end if needed.
8. What are your sales expectations for the rest of 2026?
A: We expect very limited sales in 2026, as hospital reviews and P&T submissions require substantial time and effort. Initial commercialisation costs are likely to offset any contribution from sales. With around two months remaining, we will continue to assess progress.
9. When will you provide more visibility on 2027?
A: We expect to be better placed to discuss the 2027 outlook around year-end or early in 2027. The first three to six months primarily involve initial customer engagement and hospital approval processes. Evidence of adoption and ordering will help us form a more informed view.
10. Which developments will help assess commercial progress?
A: Progress through hospital evaluations and approvals for routine use will be an important early indicator. Initial orders, feedback from early use and subsequent repeat ordering, as these develop, will help us assess sustained demand and refine our commercial approach.
We are pleased with the early progress, while recognising that hospital adoption takes time.
We expect to provide a more informed outlook for 2027 in early 2027. Later this year, we also plan to provide a strategic update and outlook on our US commercialisation strategy