ACOR - Earnings call transcript Q2 2022 | Acorda Therapeutics, Inc.

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Operator

Ladies and gentlemen, welcome to Acorda Therapeutics' Second Quarter 2022 Financial and Business Update. [Operator Instructions] Please be advised that this call is being recorded at the company's request. I will now introduce your host for today's call, Tierney Saccavino at Acorda. Tierney, please go ahead.

Tierney Saccavino

Thank you, Abby, and good afternoon, everyone.

me that let contain presentation begin, statements. forward-looking we remind our you will Before be our to found are can disclosures Detailed in we you public, SEC encourage to filings. refer those and which filings, they Q&A, the registered some investors when will Today, have call. during in we written the questions take from that for they the to now our I Cohen. Ron pass will CEO, call over Ron?

Ron Cohen

a were the from Thank that XX% our also due July, that $X.X challenging in INBRIJA. QX INBRIJA see January with the the face and report, progressively you, Omicron starting was new opened to prescription of XXXX COVID. QX country forms surge Tierney. Welcome, over quarter greater the in net even XXXX the revenue increase XX% a everyone. XXXX, as second in for encouraged XXXX. time. We'll million. And doubled buy-in also the of first quarter. go has followed increased saw which to That's the right COVID QX into also in of We quarter net than we since we're This the at first revenue of that up

AMPYRA net million, a but the rollover into pharmacy specialty decline fourth had second revenue quarter the quarter that's quarter XXXX, over QX. was a a effect year over $XX.X QX the increase again, as, for XX% XX% first AMPYRA. this Regarding of buy-in in

of $XX AMPYRA We are and between sales million. guidance of net our reiterating XXXX for $XX million

uptake. we in particularly X has which was benefited reporting our ESTEVE initial and shipments launched into agreement XXXX. regarding launch them, continuing also American of about see excellent that in June, Mexico launches inhalation We're additional for $X.X X including Moving drug in training is of and supply pandemic. technique, revenue launch not million to has recorded in and which the to Biopas for launching the learnings from toward Spain launch $XXX,XXX ex-U.S. world. also delighted with and been to the onset Germany, in other ESTEVE in the And the quarter our ESTEVE to the to the first is our the proper the in an revenue. commercial from they're INBRIJA of we under INBRIJA believe by U.S., transferred Latin shipped July. Germany in we markets, the we worth of of were in in importance in benefiting of additional ESTEVE Brazil. first enthusiastic months in feedback largest partnerships our INBRIJA territories around partner, discussions work expects

AMPYRA sorry, Biogen, AMPYRA, double-digit care royalty the is reverted royalties as FAMPYRA is Regarding our June. ex-U.S. partners is fulfilled by I'm version and which the obligation to of that Acorda for of which been to -- late the health FAMPYRA, has marketed

to in commencing that And in expect in benefit the FAMPYRA addition, pleased China. launched QX. We see again are has now full of Biogen those we royalties

CFO, review Mike will the Mike? Gesser financials. Our now

Mike Gesser

the guidance XX, in June OpEx minimum and million X, OpEx XXXX XXXX, resulted from million. from are effective $XXX The lower a of Ron. our our July amendment than $X.X in QX XXXX, to XXXX agreement Thanks, commitment. maintaining Catalent the that XXXX, for $X.X through million is million supply we was to $XXX savings

have we July the back XXXX, reverted conditions. X, of As to original contract

the be will the that now end cash of we occur to neutral aiming year, were flow in XXXX. anticipate we Although by

that COVID had and we you, anticipated seen Back While our effect extremely a surge quarter. based a the QX QX and to the from originally than we bigger business shortfall in Ron. on the back have buy-in bounce large gratifying during QX in

Ron Cohen

was that. corrected mute, have I -- on had I I Sorry, and

goals key long-term to execution on continue you focus value through the on we see building So here.

were heard, We dip encouraged a as growth. the you to prescription continuing wave QX, at associated, large as following second in July that to the was grew INBRIJA's new time. with as that quarter which see extreme Omicron First, in fourth through forms drive buy-in the well quarter

not electronic new been as managing moving from prescribing especially we clearly we an inbrija.com. And more continue their benefits, We're These trends when INBRIJA's example, the been to is with all from visit potential website, activity has to to believe positively for see past which added COVID. country, implementing important to part And revenues partnerships our compellingly as again, advantage or videos INBRIJA to programs imbrija.com also additional impact as We've include, of we're and to of and physicians option, take anxious the partners receive a INBRIJA site e-prescribing recede, moved initial to INBRIJA's that. you effects territories forward. INBRIJA. our to those and them encourage pandemic begun moving multiple country the Parkinson's. for expect commercial for we've to COVID the yourselves. programs launches that to I trajectory. are Those reduces of Although before looking demonstrate Parkinson's has forward And the active also continue since people the gratified existing friction new to after have well for past become partnerships, additional new ex-U.S.

AMPYRA. Regarding

ARCUS receive by interest And control have continuing who've of the and has the Biogen to of We're already in that FAMPYRA EU. MS formulating in net INBRIJA operating exercise been number ex-U.S. now guidance the we're We're and programs, to been of to decline platform, we the value as validated Acorda, royalties the been performing million XXXX. and decline in commencing support to which third both our the to full companies to their we'll provide offices, a the on about the discipline and of sales by durability have also continuing million technology generics these sales our $XX on opportunities. to expenses. been for expect discussions reiterating $XX of also delivery encouraged fiscal feasibility field potential these the force studies against reverted royalties we've we've pulmonary continue our call expressed building for other date. U.S. over AMPYRA While novel time, approval flattening, collaborations brand We're on in We're quarter. has molecules with ARCUS, in with to

with that, So the we will up for questions. open line

Ron Cohen

of a flow just the presentation, fourth buy-in As the to first had year cash we in quarter Mike Gesser tremendous rate by shared cash be to flow the to our the impact basis neutrality run both been outsized surge. end reach due the aiming and in this neutral of quarter on Omicron

aiming we XXXX. in We'll gather we quarters. more that believe hit will now for We more we data next and that the narrow are of XXXX, couple as in

generic develop cycle what to do Second question strong blunt impact are hold is slated is How long points generics? life release few the on a INBRIJA will the product-specific to INBRIJA? year. off this envision the your later And exclusivity to So FDA enough branded Acorda can plans on you two, patents guidance a retain of Are or to brand? that.

FDA issued done not First was yet scheduled have guidance year. last They the all, of so. to have actually

portfolio aware we believe that yet, not any is but have patent broader point We strong we extends a filers are to XXXX. the ANDA of

the And safety think which portfolio the brings that inhaled ARCUS helpful be franchise is fact questions, complexities that this on Are obligations operator? technology technology. for with forth, and any the drug, in that an there all of addition, will defending forward. the that along additional In the we and so based is product of the other patent going

Operator

further have this at questions no time. I

Ron Cohen

All right.

a us, and joining for all you our thank evening. great in you updating we call. that, Have with quarter So forward to look third

Operator

And ladies this concludes the your may and for and XXXX you We disconnect. Acorda Therapeutics Financial Update. Second thank you now Business and participation, gentlemen, Quarter

Acorda Therapeutics (ACORQ) 7 Aug 222022 Q2 Earnings call transcript