ATRS - Earnings call transcript Q4 2020

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Operator

Ladies and gentlemen, welcome to the Antares Pharma Fourth Quarter and Full-Year 2020 Financial and Operating Results Conference Call. Throughout today's recorded presentation, all participants will be in listen-only mode. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]. I will now hand the conference over to Tram Bui, Antares' Vice President and Corporate Communications and Investor Relations.

Tram Bui

good and operator, you, morning, everyone. Thank we financial results today, announced our XXXX full-year and quarter and fourth Earlier operating achievements. A available Relations release conference Pharma copy and slide presentation press of for corporate website. call in of section are Investor the the Antares the today's

during accompanying of Examples I'd future within results, our of made this in the XXXX. Act of Form the Slide and in Harbor results Pfizer conference response filings the and the described we include generic meaning the results from begin, our regulatory outbreak, approval risk as that the our and as EpiPen, Antares' well of activities contain identified certain and time statements to with provisions and on Securities business the a to They're of expectations call and as like today's the periodic XX-Q and subject is Before and call press statements impact to of forward-looking related to financial revenue as on date and time pandemic providing the future date for filings information Litigation These in hereof, forward-looking of U.S. Antares investors today's generic information, conference and these listeners financial X development those NOCDURNA, company development Teva's Teva's products the result events for place uncertainties prescription and any and business, and of and on ability otherwise. will undertake XXXX call FDA in SEC by forward-looking and remind future to or identified efforts. any are release, The respect XXXX company's measures of with and with some future Form updated to X-K. obligation cautions statements. XX-K the to COVID-XX Forteo and and as and presentation including materially. statements slide forward-looking this implemented the in differ ongoing new statements does programs revenue our on the XXXX mitigation operating Reform condition, Private contained trials reliance ongoing this ATRS regarding operating of actual partners' forward-looking ANDAs except update share and market actions programs Makena recent and undue development guidance, required including other or conference overall law in Idorsia including product on achieve XYOSTED, products not not activities volumes, result could pending of Form actions and growth, clinical as circumstances and statements to including our timing other to after our Safe

call the President Apple, and on as Chief Executive Bob Officer; Vice Powell, Commercial. me today Senior are well Vice President President Chief Pat Shea, Joining and as Fred Executive of Officer; Financial

provide Apple. a turn begin of a go over to will conclude before in-depth call on for CEO, our the Bob? X strategy will comments business, opening Let's Slide then turn Bob more to review for detailed will the questions. and closing and I will today's with tactics Bob on the with your through lines and proprietary and Please our call commercial financials, Bob high-level portfolio. for X. discussion our review our our will Fred Pat agenda Slide

Bob Apple

believe of results full-year operations excited the in to and and Tram results and organization. that you continue QX financial our Thanks, morning with outstanding highlight another very and We're good our to thank report strength updates. your and record for operating everyone, we interest diversified year

in record our to $XXX look be of success top from brought internal commercial guidance well growth of XX% very year. to year-over-year a as simultaneously the sales while achieved over share our able revenue our their at an had million, our COVID-XX to revenue pharmaceutical of leverage robust injectors revenue all our and EpiPen, generic impact NOCDURNA. for on proprietary of on end strong had the and per our royalty from our which We're our we of we revenue product, our results, increase products, Alliance supported the programs, portfolio business. commercial such million our growth came for ongoing our and we top of of We estimates advanced beats and or the products. with developing Furthermore, to for development of million partner the of $XX as almost serve. the $XX net partners XX% in we generated pipeline, as almost Overall, with suppliers, to products, millions manufactured Street contribution on our employees, partner quarter particularly tandem communities with drove We proprietary of pipeline. fourth revenue diligently successfully these the partners organization of pandemic range with and success than which million. our of the despite XX% re-launch revenue from our proprietary increase Teva's achieved portfolio XYOSTED auto in and cash pleased our full-year year, portfolio, also portfolio achievements positive multiple the tax and full-year Our XXXX impressive the was $XX development, our our before share Throughout income, $X.XX first operations benefit the more

XX% built, paired opportunities million, As we strong we of to which our to Alliance foundation With portfolio, XX% the with the we growth, ahead, business first in growth near-term guidance and highest our represents which year-over-year overview, to let's proprietary Slide long-term the and significant to company. margin revenue internal move and we pipeline. look a have have is focus full-year the still believe XXXX that driver testament $XXX to most on our X, is significant growth represents million $XXX of

and XYOSTED. of also XYOSTED have further view not physician's medical in started will that at-home versus same at-home new advantages the market on paradigm therapy for replacement office particularly prescriptions testosterone adoption demand delivery versus quarter XYOSTED We based approximately IQVIA demand in period period setting. core increased But and market or In very year. It strong primarily the our ease-of-use fourth to the and While OTREXUP revenue will last benefit once the driving practices last an which led in XYOSTED is remain our as at-home remains the million the the that platform. our painless potentially early shift traditional the XXX% virtually technology easy-to-use pandemic included will development XX% support is to on the growth XXXX, that with also be this can for quarter medical believe us, prescriptions, same had the the pandemic injectables. in XXX% total favor societal XX% more a believe Total the feel and the X.X full-year and testosterone physicians, the for we in we and administered profitable believe stages only products establish product pipeline, at-home therapies that weekly this an and of year data. of we're of XXXX expansion and majority resonate full-year our focused by norms for therapy. fourth importantly, for of the We XXXX during

our our company to for with NOCDURNA a Pharmaceuticals. portfolio our in and strategic look was the therapeutic immediately that to achieved commercial expanded due from indicated expand footprint, we through quarter urination called presence in expand U.S. space. NOCDURNA development a condition commercial Ferring to goal license the As to agreement product in portfolio key for business urology and a frequent nocturnal the polyuria the we nighttime fourth

the to for VP track hand Shea, urologist with commercial Pat relationship records Commercial, sales with our expect will and leverage XYOSTED and NOCDURNA. they organization into over and we successful given both progress our me dive as deeper let with thus we far. that, commercial With take XYOSTED, our who have this call will strategy a endocrinologist, As prove acid, the Pat? Senior of that their

Pat Shea

everyone. believe good our continue support highlight XXXX strategy the the and products. our promoted of Bob, opportunity trajectory growth appreciate you, accomplishments, commercial I as will Thank discuss going to morning we that as well our to forward

to grow. more quarterly growth From to First remain our asset which demonstrated perspective, flagship has continues player XYOSTED prior-quarter. total over results on performance formidable a achieving in XX% that prescriptions, quarter and be focused our foremost, a the prescription we strongest year, XX,XXX a than market TRT was fourth large a volume of

to of challenges XXXX the just Bob prescriptions We're the for continued as achieved occurring model very to average the challenging increase promotional calls by trial quarter target particularly use full-year in resulting audience. compared XYOSTED XYOSTED. to in of on Despite remained total mentioned, pandemic, awareness on our we XX% hybrid from our focused due time. Additionally, executing Fourth operational growth our to an encouraged in XXX% in-person XXXX. customers, the targeted receptivity continued of drive XYOSTED was approximately and

when to considerably to Our offices has virtual helps and due detailing hampered active the access to quite and providers continues be been pandemic.

patients continued XYOSTED physicians. social Additionally, digital efforts and our activation rising with and we and awareness both media to geared

our efforts in XYOSTED are through promotional Bob brand believe, the we all were challenging prescriber dynamics of the deductible as These and convenience the the growth. brand as since that very, We'll XYOSTED our strong December. payer new as manages So implement solid foundation positive encouraging, to launch continued campaign acceptance off well of execution access coverage, and prescription the TRT first strengthens updated attributes help believe presence prescriptions that XYOSTED paying a results established universe, growing Early as total patients messaging changes, by quarter. momentum accomplishments, promotional last market. the a are their strong in we indicators. QX strategy, our are prescription industry in quarter growth collectively, to resets. of We highest a of and with Throughout is second off. always affordability filled, coming patient this base, the targeting awareness platform get and to around have our particularly a profile overall January earlier, year, continue the all of target programs plan alluded for XYOSTED and very coupled a volume traditional year and XYOSTED the monthly poised

on everybody NOCDURNA update gears Now progress and the I'll of re-launch. switch our

inherited reminder, in selling very we As that we materials, essentially focused promotional soft quarter fourth highly a the campaign implemented Pharmaceuticals. and a the approach middle re-launch of Ferring with from limited a

the for as our short NOCDURNA XYOSTED well, interrupting we in amongst our focus not Our period rebuilding momentum. QX start awareness had was to time XYOSTED of prescriber

week. enhanced last were NOCDURNA preparing of selling and group our revamped while XYOSTED, more of on a to Virtual and focused promotional weeks six well our to Meeting, re-launch an also this ensure proper campaign, introduced the tools, and re-establish amongst that lift NOCDURNA. our as occurred allocate XYOSTED who generate able positioning new call those just extensive salesforce targeting we targets, TRx we to promotion, we a the To materials strategy. potential and we're messaging, have NOCDURNA, appropriate modest brand new on targets to At to selling time For while a continuing for existing recent Sales National focused remaining thorough flagship training as prescribe

we on patients on been we're the for we have high XYOSTED. the and potential very will suffering time during there have help learned who to re-launch, call Based to for we select new promoting to nocturnal minimal nocturia preparing product group a distraction this full with NOCDURNA, our is NOCDURNA of due opportunity infusing from Additionally, limited salesforce believe targets, polyuria. what

Our physicians. into targeted amongst comprehensive a NOCDURNA learnings will new, we increase anticipate of that translated trial more awareness use our and campaign have

and Before with of hand Bob, reiterate both would remain I back that in I for the call enhance NOCDURNA space hand this opportunities believe have the you. growth. will commercial we us in expertise our back support and to XYOSTED like and excited our call to we Bob, I to that front the

Bob Apple

I have significant agree growth with enhance Thanks, you still to proprietary our we portfolio. our Pat. through opportunities that And

year, commercial our corporate internal pipeline, other weekly pipeline. file opportunities, of for a Last and XXXX and With ATRS-XXXX development this these the the we'll remain with strategy path administered to on opportunity in in As conducted forward. development look a detail urology XYOSTED the searching INDs. We also on and regulatory of for providing endocrinology the assets for and IND ATRS-XXXX injector agency of of feedback internal track our we NOCDURNA, we once both XXXX the be FDA to product the the and of aggressive year. in to pre-IND auto half an potential and an believe rescue positive first we successfully advanced clinical our continue on file their this also remain for on execute consists to continue pen. focused We year, in second on from assets. have We more while currently which half meetings formulation pathway forward we development XXX(b)(X)

developed a partners generic EpiPen. continue internally assets growth of footprint, robust with contribution The commercial pipeline to potential X. that fit devices for Teva's we diversified their third to on success quarter contribute our which development quarter and We're to also have the expect we that muted and these growth and with historically EpiPen the challenges strongest We pleased the overall for the growth. While business. pandemic our success due highlights clearly future to fourth and a back-to-school Teva's Slide our garner start its of will drivers is season, attractive generic represent Despite commercial our with royalties year Teva's can quarter. EpiPen demand on full-year and highly strong EpiPen throughout to based benefits a the

expect year We're with a low an boost vaccine this of with EpiPen due atypical entered We vaccinations will XXXX provide of anticipate to XX% the allergic working as COVID-XX the increases. an supply reaction ensure to north we Teva share temporary the as in patients. and Teva to in adequate growth and demand demand by some in risk additional market

year. Teva's Teva the on potential year. that We this also they're expecting earnings and this noted generic of U.S. remain Forteo the call excited last the approval conference approval launch for

Although generic the Israel year, Canada and countries Teva in significant opportunity launched Forteo U.S. European in XX this past more the remains

noted Teva also their generic opportunity smaller also of products. multidose improved our one this year, BYETTA that could for a albeit utilizes ANDA Additionally, pen which be

development briefly comment on programs. before the also Pfizer me to Idorsia's Let Makena moving on and

indicated remains a potential we hearing to foreseeable future. with been FDA the granted Makena the has that not that Covis are market that on foremost, for and to they be and has First for case preparing expect the and to-date meeting the openness a Makena work plan trials. product information and they additional and/or the Covis through continue with provide the regulatory commitment as the FDA Covis's We additional process. supply position. appreciate work to the to FDA's conduct to address to We'll to

through Pfizer's We with advance the Pfizer, our remains excited which based late desires reasons. year to an for ANDA to very year. asset clinical for now targeting competitive program undisclosed Pfizer upon that trials Turning development were submission and see last FDA this

reliability believe As and usability we company. and product royalties a a device rescue rescue last for Idorsia with look partner studies to represents the opportunity and rescue lives. With and is after development we be for completing discuss and highlights opportunity. providing year, that, innovative the And still initial this Pfizer helps report over market sharing would patients. that bridging the to for novel selatogrel and successfully initiate fast-track the believe completed that, transformational Quickstart clinical to program physicians be it the by if approved. XX,XXX reminder, Covis. But I'll of heart their for We to X most enrolling With this the breakthrough with more expect attack designation pleased of Fred? occur turn for will market represent potentially in product last, we'll say global for in to Idorsia to call the importance that products packaged will could and large Fred We're able just FDA financials. Idorsia the the a they that pen their be success product. be study. escalating fully save Idorsia Their year to potentially believe very We approximately Phase pen a first to which this this half pen FDA forward may the recent a importantly, be low-double-digits, our significant to potential patients

Fred Powell

Antares. morning, exceeded Thanks, and and quarter consensus of all revenue finished both our quarter of of this accomplishments Fourth and analyst were as million of records year. with our revenue good fourth as year guidance. upper-end the extremely as financial also very full-year for revenue $XX.X everyone. proud of Bob, well our $XXX.X hit XXXX revenue operational The strong I'm million XXXX

history, grew XYOSTED in for over time income product, and partner achieved Antares XXXX. the over XXXX, in proprietary in the primary flagship XX% for Our achieved grew revenue achieved XXX% from million year. and over while was $XX And our $XX first Teva's EpiPen million net entire product revenue

XX% growth of remain our to Looking forward we similar this million assumes $XXX to million, year, $XXX on XX% growth revenue guidance to representing XXXX trajectory. a

So product three activities detailed XXXX, Total for XX, of review compared December a and was fourth revenue ended licensed $XX.X quarter the from more months XXXX. same $XX.X development number sales Slide December generated X. the which now the XX, XX% period XXXX, brings a financial me and to provide to the royalties in in full-year million let million increase for results us and ended

For XXXX, $XX.X royalties for XX-months constant In of the a from $XX.X XYOSTED increase and and compared million the OTREXUP attributable $XX.X to NOCDURNA XYOSTED, $XX.X $XXX.X ended was represents for million XX% revenue revenue sales, $XX.X full-year for our comparable million to three the XXXX. and for the $XX.X total million XX% XXXX, in of same The three and periods and million XX-months our for for XXXX. as compared to ended increase partner XX, million $XX.X million totaled achieved December December $XX.X December XX-months million increase products continued XX, million, were proprietary XXXX, $XX.X generated three million, over XX, revenues for revenue XX, XX% which $XX in million and ended same products products relatively they XXXX principally as sales in a XXXX, XXXX. total XXXX, and development and growth XXXX. Sales sales and period of and $XXX.X the proprietary of in ended and XYOSTED. periods in December million as in remained between Product XXXX,

saw the remain XXXX, we $XX Makena. saw royalties XXXX, overall development XXXX. market Offsetting and our for of the considerable as AMAG's EpiPen an among reduction individual million $XX.X tremendous as While revenue, well In we devices revenues the of growth there's partner revenue revenue million, we recorded over and share, amounts consistent EpiPen total EpiPen between from XXXX of was as gains positive increase products. the with changes

Our total represented revenue million, decrease million a from in which $XX.X XXXX from Makena was XXXX. $XX.X

Our in The $XX.X was to to orders in travel increases XXXX, for for a period million compared restrictions as ended general selling in gross XX, December were XXXX. profit million million was the the $XX.X equity-based various XX-months $XX.X and in in and and to costs million for related result and of stay-at-home periods reductions general sales. due XX, and compensation and gross increases same XXXX, $XX.X XX, were increases million the three comparable increase costs, the were COVID-XX XYOSTED ended and period administrative administrative attributable primarily as million XX-months primarily XX-month net $XX.X incurred and pandemic. compared for December three offset ended $XX.X for by expenses The million profits $XX.X in and Selling, as XXXX. marketing XXXX, three $XX.X the of and expenses December the partially and to to million which sales periods

offset XXXX, realizable XX, assets pre-tax our that nearly it's loss earnings, expected tax net maybe concluded likely of utilization of projected tax earnings, all than result we be utilized not as and liabilities. that deferred of more future to and generating operating future are a As December carryforwards of to pre-tax

diluted quarter resulted for resulting the tax quarter of $X.XX fourth deferred a benefit we and valuation As million of XXXX the tax for an our tax income benefit million and recorded from $XX.X share assets. primarily in and result, XXXX. full-year per net $X.XX allowance release the full-year basic fourth $XX.X and This in

share XXXX results diluted or operational diluted tax $X.XX fourth our was a income basic same to per $X.XX loss As period and $X.X the and the $X.XX per XXXX. in or XXXX. and and $X.XX basic share per and Net basic for per basic a of and ended compared share compared result full-year or recorded, diluted for million strong share income million in $XX.X was the comparable net the to $X.XX in XXXX, benefits of of December million in quarter net and XX, period or $X $X.XX million $XX.X diluted

from Finally using operations cash during XXXX, to XXXX, $XX.X million $XX.X as million we generated $XX.X in million of a cash compared reversal. in

$XX.X our I'll back December to Bob? a now turn Bob cash XX, cash As equivalents and XXXX, closing million. the remarks. were call result, for

Bob Apple

we we of organization. you revenue, continue see that Thanks, Fred. delivered We of the but of year growth our and front Slide XYOSTED provides of on the pen. that opportunities their selatogrel reflected in successful Pfizer's Phase by growth XXXX. In not U.S. can generic X and is exenatide And potential generation, results momentum with IND ATRS-XXXX attack This full-year slide that outstanding record this are significant include the year initiation as NOCDURNA. our X, future and closing, this approval believe approval help XXXX support believe shows year, us of cash re-launch still heart potential FDA strength continue the as of our submissions last profitability, this Idorsia's and of upward and and launch business indicative for Teva, diversified in advance NDA the sustainability to Teriparatide strongly numerous XX. least, will for The and Slide the for submission on rescue trial continued

I'd like where we dedication us brought today. you Beyond our that many potential open now our aggressively to growth. to this success for business employees With thank also lineup Operator, pursue of XXXX, year, to past our contributions can and to milestones, continue the we're will questions. accelerate the their alliance to development future have for that, corporate impressiveness and

Operator

Instructions]. Thank you. [Operator

Petrone Anthony Please ahead. from from comes question first Jefferies. Our go

Briana Warschun

product year. and I'd quarter questions your to with and proprietary this on like two congratulations is line. on Briana Anthony, start on a great for Hi,

quarter guess terms XYOSTED, you the product. since of volume second that January the launch. highest was noted a for out was just wondering, seasonality I on I was of And which First, ordinary in

So I'm uptick the momentum driving is quarter largely this and what just in wondering COVID? it far driven is by really so the

Bob Apple

call, So sorry question over can to I turn Pat. that

Pat Shea

Yes, sure.

we've opening in So in we about remarks my the talked as momentum, continuation or remarks. had the of a nice

So into January, that I Virtual momentum. relative attributes continued will And we going have kind is about and Salesforce, of with out think and we've of at-home to recent believe a as convenience Sales progress messaging, combination all our we meeting of National that where confidence emphasis profile the we the continued convenience come administration that certainly still are focus just that the dialed-up and on talked momentum of our forward. that most see playing

Briana Warschun

Got it.

then customers? NOCDURNA, helpful. in potential new these XYOSTED high And customers? also XYOSTED then potential that of -- Or these you terms mentioned, high that are And targets Okay. these they was existing new potential also; targets very are are

Pat Shea

XYOSTED of we're majority Yes, I into what The active then great are universe. our a targets are the, pulled existing of guess question. which calling targets hyper called-on majority

but high within category. So TRT are writing the not XYOSTED, potential they only they're

Briana Warschun

just Very your product helpful. line two questions ask And these upfront. partner's on then I'll

the timing I on into if and auto season? we'll year, through any be have can injectors know your any sometime expectations you this the U.S. for additional ahead you're launch for of there'll on build-out? mentioned EpiPen pre-stocked expectations you next Forteo, quarter the expecting clarity in then And second give orders you Are QX season? are what trends expecting So gene stocking

Bob Apple

Right.

we to question; to sites and first on to relative in So have that locations typically pandemic. EpiPens be year the an pharmacy quarter to last of stocking to The quarter, some attached case transactions pretty the COVID other vaccine. mega the expect reaction a aren't strong the second the and are from allergic particularly the potentially due Epi patients

probably a probably temporary significant through we that So down. at the for expect we continue see that we'll up, and vaccinations quarters. kind January once come pretty of increase, two the first least to Obviously, impact finish seen have clearly

also We this timeframe. a back-to-school September behind pandemic, the parts or with that regular the quarter for XXXX, hope year, there's being in full in hopefully us most the

trend So be to solid. we expect the

XX% Teva market We in expect that consistent the range. remain share to

clearly been see regards it's and we'll extremely no EpiPen Teva the for growth overall, frustrating so yet, With very yet. have under to for us. for Forteo, of and year we're once for been has have that the launch not approved us And Teva it for hasn't both disappointed approval review. the for it's for the quantities. -- on launch, balance ready that It's the they're provide. And they happens, There's updates approval already to to agency

Europe, same make As the we and exact Canada, know, Israel. you for product in in

PDUFA so And to to approval news be no Teva it's a approve There Unfortunately, follow it as when to to The good is the are remains is prepared launch they dates date. there first-to-file status. are then priority It review. them remains really once those with ANDAs, happens. to a generic a outside like that have when product. PDUFA dates, to the timelines be real but PDUFA they go they get of up to that

have Teva exclusivity. we six So of months believe will

approval that anytime. happen just to And for so waiting we're

Operator

We'll ahead. David Sandler. from from now Piper our Amsellem next Please go question take

David Amsellem

Hey, thanks.

couple. a Just

talk in-office in number that reimbursement visits, that XYOSTED on how I that even That's just big us on setting? saw give year much And just they we then matter, opportunity on How thinking virtual And versus NOCDURNA, you that your So on year this, bit will with give could Thanks. gross you're you can opportunity detailing NOCDURNA, think also And, do do about on see think on a And high-level a given success to trend? be and guess product, you dollar we do the in you I virtual to the and just look really this over you've evolving product expect to had this roadmap you quickly And on how one. similar frame should just in could you what and net think the go? question. XXXX? landscape, of does how time? about first can us how apologize about you XYOSTED I then, just talk sense and if a missed the of so be? just then you how think detailing as about terms a just this then volume of in-person if little What do just how progresses? where

Pat Shea

Yes.

the So relative And with your sell Clearly, interactions we're those I'll certainly, virtual we're interaction have the up against the that with customers. Pat, brand. optimistic opportunities most the I'll is the year of answer question in-person to is firm first have evolves, part our in-person. this face-to-face to stacked the detailing, customers believers -- effective to we'll more as face-to-face way

think I that really in dropped same the was the has our to issues the fact to XXX%. due running pandemic. to the time, in-person the calls in fourth had at of the But quarter, relative alluded we overview, virtual at December our script, some that platform

that firm to interaction, we grow do we So face-to-face helpful predominant the situations into a But for brand. believer see super going that have to that you more start really where that's continuing us of forward. be important these as to going balance to once getting continue be

Bob Apple

we the doctors' it's was more mean, into before that The can -- or in-person. And where whether getting in-person. not, is be patients is aspect physicians to prefer is platform think really it effectively Obviously, the doctor's is patient pandemic. most we aspect the the And important still this can the flow I Bob. offices. we back Look virtual to do really I the detail important David, a offices.

XX%, of there, If working you don't the matters, XX% down or practices and tell that they're to their what any what on. to are you they talk who's I practice have, think pandemic. out because They'll probably physician it indication

And coming pandemic. that the we half about so coming in were still seeing before have in the we're that, patients

had looking But uplift, we're so during offices. of And significant the starts other growing have think we've you for And pandemic patients' said; the to been aggressive much slowing the a very I when drop. like into the tell more for kind would pandemic. had us, not unlike we in growth it down we've people been successful XYOSTED been

of if rollout us. technology is things overview the for devices, But vaccines start do the patients to that. that things it potential what for this to my is in shift want so mentioned hoping again, back to normal. more, our that's the telemedicine to And like want going stay, really we're doesn't, remote that geared to that, And be I our key where will and with come

We to reimbursement? really if great will detailing want that, our for doing, I David, we still But to that. your on question coming a you I overall, far. think with back Fred, benefit we'll want platform team's we're be, the more offices. give, patients the ready done to thus from think will see the But be job and

Fred Powell

consistent coverage one we be it's keeping constant of going increasing it, your if or only end to saw a rebates, deduction. where the XXXX direction. Hey, keeping gross reimbursement, When good morning, David. that think it to XX% about at looking comes think the -- say in you're I constant I or net probably is I go probably to we're we're reason And you're and they if

the programs in gross piece So that's the then that we copay and to same net deduction. the had on the level And plan always a of support pressure we've past. to continue is, other

So we're I look take at a a where think be there. XX% when reasonable assumption would you at

Bob Apple

David, the the last which is how question for NOCDURNA, And question big it's to we on be. us Yes. a answer, to is product tougher think then going

are with we nighttime people it's have have have see we some also nocturia, urination our the in because product also key writers or on who issues. obviously, possibly testosterone, product to you or of due people also endocrinologists all, for a nocturnal low a polyuria. this who And diabetes it's well writing First guidance But Urologists don't fits a launch; really basis. believe give re-launch a product really bag. of that

really lays just we're opportunity type to front see, starting us, with so, what And in of of NOCDURNA.

So, really get to shed want are in patients expectations we the going how be the don't the visit we original patient, and the at to resonating, a this I their is thing understand come best utilizations how just to minutes message of on about talk ago, point, the back more happen what to want doctors to these mentioned any back few patients for. basis seeing And a to more type issues. until regular getting importantly,

launched we just meeting. our team's to be meaningful do going think And a a the Sales so overall, we to product, it or going with it's so literally And well it. earnest, extremely National in after think week ago

only nocturia. with doctors but for now the actually XYOSTED going is materials, with first really not messaging, also This new outside So call audience. write new targeting our writers, really who we're time our of XYOSTED

more hopefully quarters as on really it we'll go and on to color by. that the start we'll be So see uplift provide to able

Operator

our Raymond Wilbur go Please take We'll from from ahead. Elliot you. question next James. Thank

Elliot Wilbur

Thanks. morning. Good

guess line following-up of for that Pat. on I Just question commentary specifically

with behind a the sort there's to reinvigorating of NOCDURNA. scenes So happening, lot respect

activity and reasonable in point if wondering there's should Just metrics in see we trying sense samples of you impacting Rx's to more to level the an negatively a when that success could upturn to to we potentially Rx expect as monitor trends? the get in start re-launch and you a thinking basically start the pronounced like trying to just be before there terms uptick turn about any to of it's Rx us product,

Pat Shea

Yes. Thanks, Elliot.

and Virtual materials the the generate couple and new new get material, has of last to then a to enhanced some including it's With right. Sales start week, targeting the that this team set people National cycles that through take meaningful to going whole now, lift, for meeting

So to four between types everybody impact. going an to it's contacts see start of talks somewhere five, take or six before you that

a we certainly start some rise. meaningful do to we're timeframe terms see can details But And have in at -- so as accelerated but of of type be set. meaningful, we bit before because looking that think already a you actual of foundation number that that

listen, not folks keep samples, number carefully. terms that that order to allocation we'll the our a and to we're in as think drops samples given right and very and close at We eye well. have with as looking we've on of sample far of uptake guidelines in As sample NRx allocated interfere so

Elliot Wilbur

momentum growth noticeable. think obviously, at I question asset. on of the is, strong relatively overall Still on Okay, thanks. you lack more looking therapies including new but XYOSTED pandemic Bob, Rx starts despite just the the becoming to trends, of of And follow-up maintain is of key is patient TRT products, impact effects, a lack in flow, suggested the clearly market TRT

to us in one seems volume reacceleration in and of for of additional the things more going a hoping offices, from outside drive back therapy. be normal switch existing your things all to to bit that So injectable little control a in-patient to visits is trying

given in So the capitalizing on uncertainty new starts. more of wondering bit switch a respect patient terms to any of the if I'm alterations game little aggressive there's terms in writing plan with opportunities, to

Pat Shea

the out look the to overall ability sales the alluded drug a table adds our of or help attributes we to earlier, the bring obviously whether that Part once have story messaging in have the from think a go Yes, frequency for in-person target Elliot, prioritize deeper recent answer those but prescribing. as that of a brand drive stimulate strategy, Bob within all just that had great to of they understand believe observation. is The the big group some and from dialing-up prescribers to those just repositioned our with them a that asked XYOSTED that high our attributes messages penetration we're The week at-home. National promotional a hence platform. our and virtual, platform well. have. right positions those and currently and that to But our team group. is within now going core XYOSTED we've enhanced of selling that to baseline that's We at messaging this a it's strategy we features efficacy to of the get yes, a what to and and administer our we will and efficacy part Meeting Certainly, revised dosing, campaign, it to of switch, perspective LSA general

Elliot Wilbur

gross quick question that think guess there from had, be to and trends with any contribution moving the number. of anything XXXX? of that And in you. thinking But make-up that different should high you lot Fred, to product the for thoughts range be from sales, parts a just relatively XQ financial lower XXXX just about I respect a respect number performance might though and towards performance, margin of slightly we recent was, a end of thanks. sort for Thank even Okay, I the with quarter

Fred Powell

to XYOSTED the of XYOSTED. going take our margin the that's some larger couple And a I are about it's there. strong of more in proprietary already points, incremental at with EpiPen important It's again, we also XXXX margin really And that. NOCDURNA say expect lower we give see forward that the going lot be we to at as OTREXUP. we But look very XX% the driver will to XXXX. sales EpiPen as will good process. going we see be into for mentioned and proprietary driver were is percentage that's that be really to XYOSTED or fourth growth we're in products a growth is continue appreciate to trends and a quarter, I the think there does a but be product I because us of But than that going margins continue the growth XXXX. probably where leading has And exiting saw would how can the in going about to market expecting be the products. a

larger there's line. that bottom XXXX, the higher royalties XXXX. be one will we're EpiPen, for market rebound especially in keep into entering should with market see with the XXXX year, time improvements EpiPen overall, -- a some importance that other they over that Teva's the it's should So products, and for for drop was certainly to hoping math point royalties our the a in since market market having overall the share, in share we down and if also And partner with is

see should we improvement there. So

Operator

from go ahead. We'll now next Gregg Gilbert Truist take our Please from question Securities.

Gregg Gilbert

it key they when during portfolio the considering Thanks. Good at-home more a was you considering Or take you're exists your development I a Is preferring as metric that can comment therapies patients to deals? now? morning. own a business have few. earlier really about that Bob, mentioned you're pandemic. specific new

Bob Apple

at-home use we're where products, it's when besides mean the you the I going own key same products at-home a combination Well, rescue is else, for do ease they are type too, attributes, they're partner the safety internally attribute, think and of any efficacy is I detailing or our products of the one administration products. improved portfolio internal our on it's a other pen, that whether clearly the look the key like or we're doing, developing are focused whatever of or be at -- to attributes, But providing of products it's on. the they're Teva all

on total And go-forward shift basis. benefits from so patients portfolio own a care -- their I that think how our approach think I potential we'll and

And our the commercial that us think with so I think with emphasizing across also I think of talk recognize And and we about especially it's talked something that partners, value and our they about so I whole far team, as it. as will it, we more company. benefit the it'll

Gregg Gilbert

the of Great. of how eat being And the you seems you companies large launch smaller obviously with that terms not base and that dosage the both forms? it to forms, into ability sort affecting gain of older coexist agents other see a from different in testosterone share the both newer marketplace with of dosage in installed oral is the like you, recent market, can is dosage forms, product

Bob Apple

it's far market, But but it's overall, market. there's I organization product the on testosterone well that to the oral if or it's that's one a the don't this very done point. pandemic, if so obviously, know whatnot, hasn't large and sales Gregg,

the any so and long of product as up it's patient-friendly, testosterone really that comes gets there's opportunity maintains for your market, an enormous amount levels And as into it.

are have And opposed or patient an as potentially, once we so market orals day market a they'll tablet of the that, XX% daily as it view And a twice be dosing know to an injectable. going there's we products to as percentage an products the a population are injection of may sacrifice what patients that the the that's oral on is large injectables. right a oral now versus are

on better much a to over those pretty them focusing heavily to And switch injection. so, we're

market. for markets all once a relative So and overall a still the product injection in But this therapy, to versus I and market, week there's easy-to-use we're as tablets. of daily well there's as different PK best plenty patients It's an for the on oral market. XYOSTED. believe large

to So going room. a potentially and patient, different these there's plenty to appeal of products

we're of our products ours. an business growing oral the on focused concern it's We keep it. independent there. and So kind it's our not of XYOSTED on out writers eye XYOSTED of But on a

Gregg Gilbert

you. And turning a you much question, on sort or of technology focused we file model plan on your partnerships evolution that assume you business should evidenced be any proprietary Thank we as pretty lastly, technology should products? expecting those inward to external from more Great. you're by INDs

Bob Apple

mean, I Well, robust a XXXX. XXXX so Sure. with and our we the news good pipeline, have is that internal do

focused XXXX because heavily is accelerated so a the think on believe XXXX next this file pen. And we're development years clinical and study that's the we going over couple approval. of there year, And pretty potentially XXXX those, start a are endocrinology We next the XYOSTED, rescue to in program. we're

in XXXX, in pretty once pen then like pharmaceutical, Onco And weekly Uro, space. a patients XYOSTED, quick. for more not of the rescue but urology a that's darn pen, of a which the world in injection the So is

far more that little it away. a little program, think not filing, a will more vast it's really so still bit a longer, be I XXXX but a bit improvement, complicated

injectors, our always believe injectors it's pen with lines for to core So very with risk. pipeline. and tremendous they’re amount our we to us and to continue us. we'll Forteo, looking others. that'll business been us develop with great with That's low brings programs our for a But internal that Pfizer for our It's and technology, one business; of key happen Epi, be proven upside platform, our our auto use of

active still a us. view pipeline, our that'll and to so very believe pipeline also that bolster we as alliance both development pipeline. internal continue trying to pipeline one business we're have our develop, for We we our external and product And

both. continue we'll So to focus on

Operator

from question next ahead. Matt Please our Thalmann. take now go We'll Ladenburg from Kaplan

Raymond Wu

the great Hi, is for on Raymond this in quarter. Congrats Matt.

might evidence has might and guess of surprise areas, of the bolus vaccination that quick a wondering trends. XXXX new early pandemic the kind on certain the impact to upside. might how Just to you that I led patients lead sales some questions rebound if in sales I saw was two campaign perhaps that to

Bob Apple

big each not to is who back, think go back this around I still to an meaning not I number very the XYOSTED. the and take and vaccinated, are coming period. a this obviously, just see this cautious And at life happens. looking coming whole vaccinations think a it's normal, throughout what they still continuing at had it's we’ll that of we're would at about their was the the that to now. grow we But business we'll potential acceleration start as to in population I point, point, people uptick say sure see And I'm I life even to see like have are think, how I XX% XYOSTED So then on other question. impact then the right hopefully, very not

we So population. we're scripts, as the more vaccines as like a But maybe to potential rolled out and see really think are as or happy surge that. far we're feel, about in and of I patients XX% looking to that more more

territories. in wrong we of larger where to in seen impact territories, saw some New go the you New normalize. way. spikes in Texas lately. our some And spikes our you and York haven't overall, anything spikes the and best fact, are saw Jersey, we So, really in saw They're We which of starting QX, saw

sure. it's seeing flow coming you're still in pre-pandemic, patients but So not for back

we good to about expect feel grow. we business the overall it So, quarters couple next the

Raymond Wu

Okay, cool.

providing color role might dynamics retention Now, was EpiPen, school on the vaccination potentially for thanks trends the in wondering And the in reopening also XXXX, color. full But thanks and pharmacies. play if for firms additional I guess doctor's I a for works?

Bob Apple

a year, so. we on and When the on we and don't I to back-to-school a now. expect back-to-school months XXX% third we know, graders, whatever second But -- unlikely know impact going much saw going the even but today from because pandemic the that go the we in there's to market market, do eighth of in you're still of think a or that the with don't Pre-K what's last Yes, exactly six anticipate saw happen going that depending we we with expect some year. clearly in, hope to quarter to year than about at them I graders Last back-to-school returning this it's be with degree. to better we currently pushing that decrease XX% the state

And time. that the in as and programs. months as lot this -- general need couple because more well CVS to are so more that they up have more we as from stock. than the there's more They these back, think to expect megasites, sold Walgreens and as of the market tend We year being to of EpiPens over devices see EpiPens coming of their precautionary first injections vaccination growth in going a of wind

not all EpiPens positively a huge you're of pharmacies, demand, when so think to been with to and they offsite megacenters but the the and February. see roll-out I absolutely impacting to to that's so And locations, influx start going other it's into January and they these buy have

Operator

the in questions further queue. no are There

Bob Apple

your for thank That we you Thank you very much. your and today's participation. Well questions ends call. conference

can If you Bui, Head have questions, Relations. always to of reach out our Tram any you Investor

Operator

disconnect. concludes Thank today's and now participation. This Ladies you. you Thank you your gentlemen, conference may for call.

Antares Pharma (ATRS) 2 Mar 212020 Q4 Earnings call transcript