ACOR - Earnings call transcript Q3 2020 | Acorda Therapeutics, Inc.

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Operator

Welcome to Acorda Therapeutics Third Quarter 2020 Financial and Business Update. At this time, all participants are in a listen-only mode. There will be a question-and-answer session to follow. Please be advised, that this call is being taped at the company's request. I will now introduce your host for today's call, Tierney Saccavino, Executive Vice President, Corporate Communications at Acorda. ahead. go Please

Tierney Saccavino

afternoon, Good Thank everyone. you.

are Before we over those presentation in filings. you encourage to which our I will the CEO, me contain let our to forward-looking call to filings, found our remind will be statements. that can Ron we Ron? pass begin, Detailed refer and public, now SEC you disclosures Cohen.

Ron Cohen

high encouraged quarter $X.X INBRIJA the Thanks, increased million, the by to trial net be quarter, particularly internal third eligible. to welcome, and and our million, copay the to quarter degree increase AMPYRA revenue are everyone. loyalty, a AMPYRA sales was this mitigation XX-day that the Physicians second over and third given second and Acorda of Tierney, consistent over offer a brand continues in the COVID-XX. with $XX.X especially those continues impact to free projections. by who we're XX% a quarter X% of maintain patients was to revenue and patients

we a the related outside milestone sales million to received $XX payment FAMPYRA Biogen, from of US. addition, In

reduced As the followed a as has for with symptoms from of to of The and Parkinson's, and a is INBRIJA Levodopa. now a country Inhaled through been a physician Physicians' people wave then Parkinson's recovery had the our saw the patients trajectory we much and and the new April summer, late to their actually address infections. of indicated have COVID-XX pandemic saw by in in OFF visits prescriptions present. of a the dip overtime, experiencing July; known upward adapting other an been improving periods is has delayed September offices to prescriptions second as although symptoms, late from as have routine resumed of new pandemic standard We late gold also reminder, return is at-risk on business, the care. INBRIJA therapy Levodopa needed. populations impact

believe notwithstanding sales initiatives having shipped Now we've momentum quarter, during encouraging we pleased over introduced have that persistency first the over the seeing net trajectory, and remains months. impact. are XX% who the increased on we're high patients increased that other factors, average, first that the INBRIJA year XX% these and XX% at use least We're an therapy also with a XX cartons continuing among positive quarter. in of at number INBRIJA's the day on about every INBRIJA

to We also on progress continued access make INBRIJA. to patient

access XX% all quarter, that reached prescribed commercially the neurologists a was of that's have and first over patients; without exception During medical XX% over the X,XXX the first INBRIJA, quarter. increase insured a third increase XX% over quarter,

launched option with a response offering to Parkinson's physician with they're program consult encouraging. telemedicine in-person uncomfortable an quarter, people if We to important this giving has with during also new and an the visit, a the early been

included net the as refund; refund quarter you'll tax cash in tax to Act, financial for to with quarter detail release. amount balance. July million Moving in Note, CARES a cash, which third ended previously in We third financials prior quarter-end key the back allowed carry slide cash outlines addressed resulting in of quarter this received that equivalents, third in years, our we we under restricted $XX.X press performance; which $XXX.X XXXX and year-to-date, our our us losses and reported, the cash investments this operating million. is XXXX find to the

cash is today, financials. a reported our third in achieved received the quarter, balance in payment revenue as quarter is in not October, but $XX from QX reported earlier, we mentioned a I million and our milestone in of was Biogen. it milestone The as Additionally, payment therefore, it increased

imposed been by challenges So seeing INBRIJA to multiple progress in for significant summary, our COVID-XX. across teams We've the adapted fronts. have

Our previous medication as an to reviewed in here top all and MS and using strategies growth, is for we've AMPYRA, the accelerate still to it support important INBRIJA's generates calls the are priorities valuable and further The optimize sheet cost term we long strengthen to and position. to and our AMPYRA's from milestone our balance million value for $XX structure drive Biogen received our community, financial payment shareholders. strengthened performance cash

capacity turn to cost monetize One is ex-US our manufacturing to of partnerships facilitate reduce that our for expenses goods. initiatives facility, in which Chelsea of We key and would excess the help of offset would believe INBRIJA. our this

active questions. for open your the the both and I'll initiatives. now in now are discussions We Operator? And for line manufacturing ex-US partnering

Operator

from first Instructions] Nadeau Company. of the from Philip line [Operator question comes Your Cowen &

open. is line Your

Philip Nadeau

for my question. Thanks taking

increase one with sense you January which you covered over do coverage, the lives as are how you was any the Ronnie, X, on when impressive an Where quarter. Medicare lives that have effect? covered? mentioned First could go new And after into commercial plans transition to the

Ron Cohen

Thanks, Phil.

there's of but exception, I a lives Medicare access significant have of XX% are access. that in covered numbers we from without far, blocked maintaining pretty So that at been, the decrease lives think, are medical

XXXX, at XX% block. we're about And of now we beginning So XX%. were at about

so that medication. physician write is willing on, a obviously, means the is, to exception, them do the get educate about patient we medical them what the So that and encourage can and if and

progress. real been has that So

We next year. are bidding

-- INBRIJA half of significantly. XX% quite getting lives. far, situation it's said, But are would improved people I I are the not And on Medicare. So the have who say still we covered we're as at about

Philip Nadeau

down. patients follow visits I guess the the is of in Most offices. the is Perfect. of neurology And then, way visits that terms physicians' companies reported to up in-person of

XX% of Some are seeing seeing. about one's you're that pre-COVID the course, no growth suggesting of levels. But it's

you quarter? that seeing in? you going to did how office, with INBRIJA physician's in patients not And are are the you overcoming what are So like grow the

Ron Cohen

something say. back of back to I Let that mind me go for in else had just was my saying the

was Medicare all proposals. the The There to other haven't yet. the responses for on is request RFPs issue thing about our back we heard of the

what next couple over we we'll clarity whether So XXXX situation like looks we'll for on that XX% and improve able have to expect the be months, the of numbers.

were the we're to we waiting We're the external which And So lot certainly with yet. the goes XX% had, really is done, was information a about neurology. information. back an There was offices, physician late in drop there then, of visit get early good the last an to to drop when spring, there regard spring, visits. that summer, surveys in not about still to XX%

dramatic. have So solid We that don't was updates that on pretty survey. any

visits our -- imply, where places they as the doing. what then they up. open on would are XX% it shutting or the clearly there increased imply finding would numbers quite COVID basing we're that took There where we're those of variable other down country. is in And what did places those is team are again, have beyond certain XX% but XX%, across again. started regions And off So

that much they not of what early March, exception what about. come So offices depends staff by don't talked up, I arrange those tell XXX% significantly, in an those visits offices on say support through you're would What all to October the Most come it dip was trajectory. have a team and sure in on It's other of up, or speak it's whether summer. them. was solid about by video, something all lost. a has certainly And handle the to September. to August, part vacation-related and since to have did That our they telemedicine the upward that the COVID-related of We we and degree, is I and up of continuing say numbers. of for then How phone, else. -- in I they've But But, they've was large, early What had talk XXX%. of new or to really over with we're adapted I we're April, resumed you, the and May, not sure. replacing our not to can it's can prescriptions that, late talking the by ways country see the on map. think trajectory their doctors the gone September

did that trajectory. to patients upward adapted, it's than it's they at tells least to But lot almost volume. an docs able, So, of that all more INBRIJA seeing we're us in certainly are back terms enough they have normal the see not before; with a that

Philip Nadeau

helpful. you. Thank that's Perfect,

Operator

questions And and time Instructions] turn to over we you. back no call at this the I [Operator have further

Ron Cohen

call All Bye day. right. Thank we look you next our to everyone. and forward election you, quarter. updating you again operator, concludes That and great thank a for Have now.

Operator

Ladies Thank today's and conference for this participating. gentlemen, call. you concludes

may now You disconnect.

Acorda Therapeutics (ACORQ) 3 Nov 202020 Q3 Earnings call transcript