ATRS - Earnings call transcript Q3 2021

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Operator

Ladies and gentlemen, welcome to the Antares Pharma Third Quarter 2021 Financial and Operating Results Conference Call. [Operator Instructions] I will now hand the conference call over to Tram Bui, Antares, Vice President of Corporate Communications and Investor Relations.

Tram Bui

Thank you, operator and good morning everyone. Earlier today, we announced our third quarter 2021 financial results and operating achievements. A copy of the press release and slide presentation for today's conference call are available in the Investor Relations section of the Antares Pharma corporate website.

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

Senior Vice Peter and Officer; President Apple, Vice of and Bob Research Richardson, Fred and Medical Joe Chief today Commercial. Financial Joining Powell, me the call Dr. Renda, President and and Officer; on Chief Chief Development Vice President, Executive Officer; Executive President Executive are

achievements then hand R&D the Dr. then Slide business. agreement then the back and with will over will business, the Bob through review X overall with to and detailed I review proprietary recent the will questions. for an to review and discuss Bob including commercial provide Alliance licensing opening the strategy to call Fred call to over of Apple. Bob Peter your a closing on X. QX to update to and begin our for go will the initiatives financials Joe Bob? for to before Slide will handing our Please of TLANDO comments line for agenda today's hand our the our Richardson Let's a call turn Bob conclude provide our call on portfolio.

Bob Apple

Thanks Tram, and operations quarter good morning and interest third in everyone and your update. thank you results for our

achieved and have period third and that record highlight look the we we opportunities quarter of operational to very in and business, across front pleased strength the and our us. reflective is year-to-date multiple financial remain our of at As of the advancement report growth. we are sustainable the believe We of another results, organization

$XX this year-over-year XXX% our patient I play, manufacturers and as contributors income million period the month these the strong with our from emergence million as third $XX on growth revenue and increased We $XX.X supply putting in as visits and headwinds primary the $XX delta results pressure Our and time to to of suppliers. quarter through Even and EBITDA tremendous to challenging the quarter. to well generic XX% physician EpiPen and said continue to QX extremely before million in Teva's over an affecting with be impressive access, and again variant $XXX in XX% more third to and XX% X-month nine quarter the achieve chain increased nine months $X.X in million. taxes in and increased the than approximately million period.

of TLANDO, future grow of growth. for licensing business to recent proprietary of we a drivers crisis ATRS with be Furthermore, our will our also and the our continue to opportunities remain the foundation these create portfolio Alliance adrenal further will our anticipate and business. a We XXXX the enhance with achievements, coupled potential overall rescue development expect internal to

Let me the FDA. by first TLANDO for therapy, of with is which the U.S. start license replacement treatment tentatively a for approved in twice-daily oral signing the October, testosterone

significantly commercial We the have existing and complement another physicians committed to footprint and portfolio near-term proprietary offering opportunities. therapeutic with growth our to patients broadening opportunity enhances to our testosterone our

of Within have continuously adoption old with our we relationships and a expect the of with success is to discussions leverage a drive that testosterone. sales preference Based physicians their and that we corporate more a their of option and physician our terms one the support growth with patients TRT revenue is agreement market development with a field. form remain the TRT believe for gains and there backdrop market. XYOSTED to on than prove it dosage growing understanding with force an large represents continues of compelling in we therapy market and share commitment attractive for story $XX and the growing natural an upfront fiscally diligent to financial our and will our Overall, opportunity payment license prospecting this million of

approval TLANDO From to expect of believe an from product standpoint, attributes the these the instructions of positive a period set such several among as products. oral dosing product other dosage it restrictive less second has product. quarter market based we competing They in apart of on complementary strength could the and We others. XXXX the one exclusivity FDA launch upon expiration

expect potential and expanded call could an provide believe will more treatment also overview development replacement strategy I we significant further testosterone our turn TLANDO achievements to for the conduct We which physicians. therapy, commercial a provide benefit of on diligence a Joe commercial and proprietary for oral represent and to our the Joe? detail over assess portfolio. patients for an to opportunity for once-daily XR,

Joe Renda

patient volumes of well physician commercial and access last fluctuating growth NOCDURNA XYOSTED, year, offer year. and the the to and believe has still year-over-year said, this TLANDO anticipated that Bob, the our quite we Thanks, will physicians the good we XX% despite appreciate created we for an today's morning with products, portfolio challenges the the even both that portfolio continued burdensome this quarter in really barriers including our in and and demonstrate have was organization this compelling OTREXUP in and everybody. faced with perform and join delta call. to entire our we was I able to Throughout quarter, variant to proprietary with launch of opportunity were patients particularly bag next more but with

little of growth. flagship main to of drivers the sharing our one Let a proprietary which continues by me bit about start product be XYOSTED

a more highest of launch last September that, we is just some down of of said, X IQVIA can prescriptions had this some performances XYOSTED limited XX% weekly according of TRxs you year access Slide approximately are more And the urology performance the and October. and of and have And highest quarter visits pre-pandemic patient than to office month XYOSTED the visits still perspective, in with is XX% in slightly to since almost year-over-year both in in give just As and third this data, levels. date. Despite mentioned. total see increased despite decrease you physician that XYOSTED our weekly XX% I We week. that the XXXX to just the and from

in existing we're for top delta continue pleased the slightly saw third new virtual patient the that Although, on the with and driving really both a the detailing IM on, the those the unfolds. decile we patient virtual XX/XX may the are priority injection as and the third in-person our started flex field are really subsiding markets. hybrid we and due variant and base part a prescriber have XX,XXX earlier with respective well as of to access the patient XYOSTED XX/XX remains as top switches call year requirements to remainder within see of nearly versus it person they the focus physicians we writers. the on the mix penetration We're split of of starts we of the as as October. that's quarter been between now model variant. selling work force to calls And volumes from as to to offices improve new who quarter, deeper the starts And physicians' starting continues continue throughout in and physician month our well whatever those based particularly between expect

options continue and to successfully TLANDO have that we now As as treatment me injection, best-in-class for patients about and painless subcu to positions is a physicians leads I we'll we Slide different which the on X. a talk opportunity the preference said really believe

XX% million roughly us still of have is perspective market X.X but from total compelling with the representing a injection market. overall majority noted shares of substantial of the prescriptions about still approximately a X share hold prescriptions that's the that TRT that remains which in XX%, We gels of TRT the million really size market, and growth the and consistently almost

Given enhance only growth of highly our offering overall think oral those will an are market both injectable and an we synergistic dynamics and trajectory. therapy

with first expect to once-weekly offers treatment that injection and physicians. who options may prefer a a XYOSTED And their oral TLANDO complementary and we market expect injection convenient while, We choose option we launch not believe clinical patients to together as as painless for an may - and XYOSTED compelling profile, an patients option.

optimal X.X before, patients prescriptions million risk gels, stated transference. the for the may application challenges approximately So be given of daily well as represents I for there that not are the as as which

advantages some professional in both several next clinical build for our which convenient treatments nexus it to their best familiar and to the their with very plan comprehensive and the strategy best So to attributes and options we standard there on XYOSTED expressed them launch over titration the be TLANDO key and hormone to SMS&A which attracted National what dosing the today, we and a main Recently, focused sales launch clinical the choose of that oral meal. the a and allows medical for in medical option and some with These attended were strong and put an market replacement. on were for we're TLANDO force BID bag research congress months And and their to had we'll such sales year several is are the the have force's next for has opportunity market will the a patients together gives of the and annual health as inclusive also going a year. next ability opinion sexual need both to complex us Conference, really product that's that they opinion testing, schedule physicians use distinct no have leaders profile needs. TLANDO which

year, able TLANDO a next markets, we'll of portfolio. we third the with market DTC in for both and critical about a perspectives exclusivity total NOCTURNA. the representatives, as of [indiscernible] for care to our believe expand branded and physicians, of access strength on marketing additional FDA our tools cover provider the is believe with approval team and of we campaigns plan of more physician period, XX care the physician our efforts remains .We leverage addition NOCTURNA we our expect a year. the footprint took the and the strategy next within relationships here dedicated and force grow based to we the also which for priority size of sales this quarter that and force, we well part territories, enable component we as of for of TLANDO have success size we're health NOCTURNA. new opportunity and As relationships peer us enhancing sales final remains their for to March want force to continue digital speaker our to continue which providers is The team and leverage appropriate healthcare we the at existing to And the the congratulations and for second we to expect exploration of have the TLANDO, our TRT marketing with to support see, a to that's clinical the also the for board as plan slight the ensure of detailing also the by on of lives I digital their will for sales XYOSTED by their digital prescriptions with we recently continue But support shift market. efforts their can both XX%, we In be in additional all for quarter, covered of education XYOSTED, campaigns, their and be on you XX say on the similar with to focus primary to tandem to representatives interest in able these significant field on grow as in acumen organization as well TLANDO take plan, in-person in of were will education XX% healthcare paramount this XX force able top whilst support to by and marketing programs garner increasing we're or to NOCTURNA calls successfully which reach the XYOSTED to launch a anticipate work nearly adoption our our current recognized will customer Antares of preparing end NOCTURNA. of consumer nationally. from and current marketing an as XYOSTED year ultimately opportunity which to be providers the XX% of primary cardiologists remains commercial will We they their expanded Slide NOCTURNA and on our as of our X. by and recently advantage to as highlighted education, the commercial prescribers a which sales meantime sales urologists drive the to their to In about peer garners XX

We more country. have across XX the hosted than programs

believe the up Xth healthcare and NOCTURNA educated We year physician of will brand really far cycle of have which now have launch, normal this programs other several and require least sales just We we that a XXX year. end is habits. of to saying, our a wrap look continue new affect by almost year, the so here at providers the the lined expectations believe programs interactions for really between finish XYOSTED. on we far high I'll in feedback receive growth to NOCTURNA. we we future order to prescribing also But accelerate the will so remain as up out the in-person

to oral been also an as their As TLANDO and the we And our as help leverage can going types patients spirit recent with NOCTURNA still to is feedback regional portfolio. in our their tremendous patient the opportunities we relationships, potentially next our better script have positive. to be our proprietary these to contributor Overall, physician be particularly in extremely believe organization in team greater to from remains will front We our invigorated across growth practice. sales call The commercial products increase that provided meetings both our growth everyone that, now I'm the a and energy growth future customers Peter? Peter physicians in-person and year. excited bag revenue added really Richardson. to have shown the identify us their that we support testosterone now at by evidence Dr. with that's of product hand is of over this

Peter Richardson

brings ATRSXXXX. where development we will us advance Thank our which initiatives, with everyone. you, we've Slide clinical continued to discussion the Joe. begin to Good year morning, Throughout our X

hydrocortisone. compared solid accepted ATRSXXXX adults ongoing pleased now X help in quarter injection. designed time initiate This first formally this hydrocortisone study liquid rescue our acute insufficiency and to development the in dose, auto-injector X and adrenal of our subsequently is stable and for us using liquid the evaluating be This In tolerability, the to indication in both need intramuscular our of epigenetics now the by with for proposed complete subjects quarter, the designed as programs establish crossover pleased on the study formulation we given our stable samples the study safety, as of is cohorts analysed. IND planned PK XX to to for XXXX. have profile adrenal with will first support of study commitment the formulation deliver FDA Phase We Phase patients third known therapies. an to healthy proprietary in is To XXXX underserved adolescents report And when [indiscernible]. the demonstrates for planned. acute to and a as our study I'm are crisis treatment allowed announced new known platform, adults the The

X, As these creates crisis. of new the device shown Slide development to patients our team needs a adrenal who suffer on specific with platform

study a towards next is with anticipated injection filing next multi-stack the BX year in final which and with can the and our both convenient FDA is particularly in cumbersome auto-injector. track challenging study provide Our the should for this X caregivers, us the timeline standard goal We patients to for current of activities bioequivalence the care the of NDA definitive study following simple second Fiber keep versus time factor on year. a the of be and anticipate with These crisis. end human their

studies Moving to ATRSXXXX look development using should thereafter. be chosen year our IND we've our oncology then to initial with additional early next second preclinical formulation These us the shortly weekly to file program, to conduct internal our allow designed for and FDA auto-injector. delivered an

back are reviewing formulation this will active our been look emphasis now therapies. a progressing of our development on the making that, We And and all Overall, injector forward target deliver actually I Bob? drugs programs XXXX with with we to has data tolerated. to of an rescue utilizing remain formulation and we over currently additions committed confirm selected in that and levels the pipeline capabilities to hand to to of the Bob. call will

Bob Apple

Thanks, Peter.

and XX% of Slide year-over-year illustrated share at XX% pre-pandemic on as outperformed as growth the start opportunities prescriptions partner generic generic Teva's came a our development we EpiPen back the envision season In and to I'll Teva's proprietary business, EpiPen of a to or market EpiPen. the for quarter mirrors commitment with market XX. third our the portfolio they normal increased total Our with school and in

success with primary Our royalty was to partner this XX% quarterly our increase in continued a driver revenue. product

to for value market We issues a significant auto opportunities FDA path despite labor for approval. particularly we maintain challenging and consistent with generic as share in their believe on pandemic. to of expect our a be Teva we we injectors with this on maintaining our year supply future Forteo Teva due that additional was will past relative Byetta, Furthermore, as focus manufacturers the continue

trial, approval. the development along With results value organizations both significant pending their with development for program with will the Fred of business quarter endorse pillars of Fred commitment XYOSTED, third alliance quarter to to we've from the a -- demonstrated proven And As track enrol Teva's that compared With are which I to Terren in see them approvals third a we on prime we complex the regulatory financials. EpiPen potential fully [indiscernible] selatogrel growth bring continues performed last on our record that very generics. of the trust of our as product that on a way hand as over to in have These now noted are optimistic and they the coming we committed longer as approval week, achieved worldwide work quarters. EpiPen standpoint leap to side and an such generics for we Byetta EpiPen, will a they approvals take may program review just launches. success remain X for our being non-complex future. leaders a They call a believe robust call of as their of detailed Phase example. we Forteo have with our in generics but I'll the in

Fred Powell

Thanks, good Bob, morning and everyone.

date ability report quarter share, durability $X.X of or with to million quarter total growth also in the and to per of business growth generic to another XX% revenue continued net reflects to prior to $XXX.X million increase XX% $X.XX compared income $XX.X for record Our a XXXX both and diversified XYOSTED revenue this revenue over Teva's of as of contributed million our to year. our the strong continue EpiPen

Fargo, a we were to performance a XX% million, our year-over-year $XXX full-year quarter, representing term also with replaced to facility able expense. loan sheet our we cash XXXX XX% revenue our As our our expected ongoing credit Hercules continue interest updated the $XXX recently to reducing with to result of a have a we balance growth future to third in and strengthen Wells from generation guidance

XXXX $XX.X $XX.X XXXX. licensing for us XX, XX, million XXXX September for in the in $XXX.X September quarter product to comparable September compared So the XXXX. million for now the NOCDURNA is for let compared was XX. XXXX. same a results and in to asset. and brings ended in and in our in and proprietary was activities. September period was in and the and growth to XXXX products XXXX million, nine for and Licensing $X.X and Total compared XX% the the proprietary financial periods million were XX, the nine fluctuations and The OTREXUP The three which million more third to months dollars period Slides XXXX. provide quarter three development review $X.X detailed revenue $XXX.X months XX% was and XX% X revenue $XX.X XX% to for million ended million for ended XX, in of nine $X.X timing Sales attributable months a $XX.X the the XX, a the that sales asset XX, XXXX periods XX months Total of decrease months X in $XX.X sales revenue XXXX development $XX.X of increase for $XX same three ended the September of same me million ended to million September XXXX and to the the for and revenue generated continued comparable three due from principally for increase million development compared and months million periods and increase in ended revenue

primarily XX% to XX, Royalty increased same Teva same three ongoing compared $XX and for over to the for XXXX While with partner $XX.X XXXX. period the for increased million incremental maintenance period revenue result nine development was of months XXXX in million increase royalty in XX, product projects. ended million development the the other in to ended XXXX and months the $X.X $XX.X overall September for XX, September million from revenue the activities

season third EpiPen a over benefited in increase and the quarter, accounted the XXXX. for market achieved XX% back-to-school from revenue Teva a the During royalty normal share, market which -- benefit net

were September NOCDURNA increase that gross three and in in months comparable XX% SG&A XX% million incremental XXXX profit XXXX. declined XX, primarily and ended for dollars, primarily margin for for The in million and with $XX.X the and for XXXX. attributable $XX.X XXXX $XX.X the the XX, Epi million ended the in for to nine $X.X $X.X internal costs compared $XX.X nine periods the mainly launch periods Rescue third for XX% $XX.X XX, three our margin to an nine was initiated comparable in million million XXXX expenses Our period and profit and The million conducted Adrenal due the to we study the ATRS million and and September Crisis XXXX increase costs $XX.X the XXXX royalty. for X increases by had in of sales representing and the and the Phase in gross quarter. the R&D expenses previously, in million the marketing XXXX. three in preclinical a same $XX.X Selling, were in The ATRS sales development in in and was $XX.X and gross we sales, to associated and and and work discussed increases compared were XXXX. million September and expenses ended during XXXX pandemic, XX% gross administrative were million driven to $XX.X million months and programs, and Peter or as of margin as for Research general development months increase $X.X compared

result for taxes third per and our and per per for strong income September of $XX.X income and of and $XX.X XXXX. basic ended nine earnings to $X.XX earnings a financial before quarter of income period XXXX and XX, before And and our the results, reported diluted diluted we share the per taxes $X.X share compared As million in operational of share the million was XXXX. $X.XX basic months million was comparable $X.XX

XXXX, was As $XX.X XX, September a million. cash balance our

facility, my conclude to we Finally, credit entered Fargo. Wells to update, recent our which I'd into discuss with like

million XXXX beginning During operating $XX us $XX has allowed jump loan $XX from cash of in cash. XXXX. this have term generated at we reduce the This September XX, -- generation year to the our million million Hercules at to

our extinguishing this down our and company we facility turn it condition entered call million to credit term Bob? additional us combination into back an result Fargo, facility and improved which flexibility and financial for Wells credit $XX Fargo loan expense a basis. Hercules term our Bob providing As obtained with extinguished from paying the the performance, with of remarks. of Fargo I'll earlier annual to loan Wells debt Wells week, now a closing will interest financial allow million reduce term also $X the The and Antares we a the inter Hercules an in with ultimately loan more by approximately on gives access to borrowing capacity, replacing

Bob Apple

umbrella year-to-date finish nice this wide for year the due that to under significant achievements Despite throughout pandemic. our believe persisted operate of we challenges a us opportunities And XXXX. Fred. I diversification set up to Thanks, and

and growth across the business. opportunities of demonstrated XYOSTED our a portion the commercialization portfolio proprietary Our OTREXUP in increase with NOCDURNA XX% that driving

of While months taxes In in drove and the cash our we in EPS EpiPen significant the revenue before income increase margin, saw Teva's first our net generic nine generation. royalty XXXX, XX% increases revenue.

very work be year and and I'm and a the proud challenging the tireless Antares throughout quarter of year nine the as a expect thank this efforts in to months. performing first the the their employees balance well very We strong of dedication all extremely time. of them for

growth sheet. enhance We for portfolio ATRS As TLANDO agreement advancement will we balance further and a trajectory. with in-license stronger our and map believe XXXX our proprietary the future of the

to as up and your can corporate approvals programs. we, as initiatives, the Again, you interest operator support continue await we and now potential partner to development you expect the strategic advancement open for our for pursue also We lines thank to questions. FDA of our

Operator

our take Securities. question We'll with from Instructions] you. first Thank Greg [Operator Trust Fraser

Greg Fraser

the Good morning, questions. guys, for thanks taking

First in should think XYOSTED, quarter? temporary any are the curious to there gross on the net fourth mind as about we one quarter impacts if we that in on keep

Fred Powell

answer this that Greg, I'll Fred. Hey, is one.

nothing a in adjustments is and No and expect there see normal unusual to would Now, in the take the it quarter quarter, unusual the was there. third that for quarter gross us. repeat place fourth we

Unidentified Analyst

think share helpful? about you how Got it. on thinking has market like And potential TLANDO, Any be on to color achieve the would potential that do XYOSTED product share? that you're

Unidentified Analyst

quite they're that forth. of believe or TLANDO. going as letting it's miss I'll in we is get if really fits volume on talking in a as surprised transparency talk replacement, injections about there's be that take really Joe are anyone we and gels that to daily something. And of potential and that application We with large patients perfect is as think anymore was really well a we market million as a much going that we're question, the those large for his XX but into and gel TLANDO. lot XYOSTED bringing gels and We mean, of of and for of when I of really We're I'll upside a product over XYOSTED potential X because market. TLANDO easy testosterone let because I add initially in been. Joe and believe market we honestly, has prescriptions some percent gels, XYOSTED, anything believe issues those still, be still along successful patients the may so share both uses be market challenges X% afraid about perfectly believe, so earlier will it's

clinical as extremely overall a We'll show, that injection market, work obviously the when far their painless think of choice. And allow them twice-a-day both so on let they or no offices. when if data XYOSTED, the about them and based we opportunity and for really much daily a go do of both preference tablet. and clear, giving will oral look patients into the we It's we who as doctor's is the choose once-weekly their this provide at well

X other a products, doctors' sales lot basically don't really you and accommodate if opportunities to know side-by-side. think about And into any those growing we and in our When I there's we go it. of force excited have We're comments. offices have Joe, so, we're

Joe Renda

other the realizing also in the we're the lower-deciles. decent at would amount look there is still that of I you is when market, give business Greg, Yes, a only color that

as our So, only opportunity don't And for top of my don't deal at in to as that for there to to not upside I the I have XYOSTED, as a they were to desktop today those titration that continue mentioned there on a the We customers physicians to for then is talk we we conference our think prescribers was lower-deciles with. There share expanding excited we're footprint with as that huge well great us TLANDO. is is go going oral when definitely a TLANDO XYOSTED do convenience. the that obviously there in for the this the us to to very of have we enables especially XYOSTED have on and like and focus market schedule got space market in you've products value convenience but call now necessarily obviously, also product think XYOSTED. at complex and a

injection. So the they're will a chance still very provide not just on maybe aware that to an gels, reason are said, that market. be Bob a as they oral option about is want who whatever convenient excited because getting there using don't for patients are to And something

Unidentified Analyst

products revised Great, any approval? partner is pending question include thanks revenue color. from outlook. that for The you the on guys are outlook, last the are The contribution

Unidentified Analyst

we guidance looked million potential approval is Forteo, million to we at of have anticipate and of go. $XX the the beginning range guidance wider, the left couple at bit when year. the and a end on anticipated when and that so So to $XXX homes tighten the only obviously, is upper the a our a more guidance The we

We there's up what a selling reflective from upside kind are the thought of wind X brought years, and we guidance the that's view think it's where approval, end little just what and we down had we mid-up. from We don't when we products business end going an and there is we the we was going or but that little current standpoint, lower of good standpoint, negative. what at think always it bit, really any why put there's prudent our to we're increased know products, doing, we're our approvals not do currently Over a a guidance is from as that cutting look we it weeks our in partner upper we to we're range. of have a and that ago, feel do just we are with X this get only given we in our weeks to today bring assume

Unidentified Analyst

Got it. Thanks much. very

Operator

Cowen We'll take Company. Ku question next Stacy our with and from

Stacy Ku

for the questions. on And taking Congratulations my progress. thanks

have We few. a

million Looking in guidance implies QX. roughly at for your XX revenue

this with reach trying QX. talk for growth next takes partnered right what market is, how driving last we should we instance are of stated you So IM switching as about thinking partnered XX% so think Let XXX million next you TLANDO. starts year now are second the or year growth? And then at future is for are now, XYOSTED Thank on question my about as the first or the the how revenue product from to last clinician thinking just question. this time should you've roughly expected EpiPen new be around the me updates consensus for next about you. set then year's is broaden and or point for about is trading we question be is what And even disclosed share gels puts your

Bob Apple

we third topics. of will will those the two gel take question I overall Stacy. - question. will the XYOSTED, -- come EpiPen first, And back Thanks cover Epi that on that version guidance the the

share So in market done fantastic they on a of challenging EpiPen, a They've gaining very had a job market. feeling.

had brand, leader that everyone of pretty Given where long-established time brand they to previously the product period were EpiPen the you use. the was a the knew

additional from ended competitor. -- out huge makes right of the Walgreens probably function CVS a whatnot, they coming is or through who whether any there is to where most around We anywhere and that's now interruption were any be supply but product the it's the or given selling of So point XX% they to probably expect gains market don't a it a share at week it's to really they're XX% that unless - from have we a standpoint. get them sense of believe

they to we've Teva far in necessary been get devices share able that but it. provide with need market that so order And the maintain also to not only

forward, XX% next still this weren't have share available year still the XX standpoint, think was or there a someone market because think the a So on % leased they COVID we were overall. had there obviously were that look vaccine. that with if case was they impact vaccines market -- we'll at of share so at the and see some relative as utilized an now, the were COVID-XX the providing adverse EpiPens share or they growth anaphylactic when vaccines, they year had we there shock to case reaction is There from we market being there in maintain being some positive COVID the for beginning we upside on vaccine,

XXXX. to year. expect for But versus still overall, to as in EpiPen that We robust, growth not expect see we be next again, XXXX

XYOSTED. think very are, where increases there over again only job it and Joe a done for expect from to is with I the market we're incremental So great happy call market. to and in has disruption a supply if turn the a they standpoint, see share the any overall I'll

Joe Renda

obviously that that as we we to growth, more there has portion this upside is back benefit that but our that normal. kind into we patient come new high, opportunity of for the we new opportunity the we know of an Where past all-time also the of thing are deciles last we're big through the patients. had So Stacy, business, from besides XX% those kind we the and from and still our to of over see that which up year there about business week week, big switches with that is getting had a towards thanks IM expansion, normalizes, getting other even we're see be good I we starts lower the the highest XYOSTED, can we're mentioned, our volume think patient what as finding other market go news that is is ever beginning as look and forward decreased the question

an because So patients year, therapy and or some as for potentially there'll TLANDO again will then as well as for both available new not new endocrinologists care or they primary go injection. be are next for both may that truly also are for patients candidates be great that that offices patients those might new be want that sides there urologists, and Testosterone for may into that options to end

is kind switches. new that's split the XX-XX of between So by written is were now right starts and where

Fred Powell

your And, this question comment is for I Stacy, Fred. your XXXX. guidance And about appreciate or

at XXXX earlier. Joe But our the beginning to think and a we're December, January. expanded sales when where that comment on I provide at too force end can what mentioned it's a of still done in is I do and we'll bit at we're what us guidance early with expect comment look we take excited the the in consensus is for of at the past we've about fully seeing I what

up of or where reach year. of organization that with the working year coverage that it [indiscernible] year's year, again continue the be throughout we a growth second know, launch overall talking they we're millions the expect when hope XXXX having but forward. mentioned at we to unapproved as of getting the in at having see other of we at a that and expect TLANDO products be into it share we as to continue year. will worth looking We to about them did that EpiPen guidance relatively to We're won't thing that's us quarter, With market our significant is those a the full it's will the pens for really the you revenue. in We not was, terrific manufacture going a about the be the year, coverage going certainly near have. for as XX% a are and the thinking a basket products XYOSTED we'll at flat. like end not to this well allowing including beginning see we With Makena any the of is been year this Bob One to driver [indiscernible] time. be the continuing challenge them on products XXXX significant this as for we XX% changes And is have to launch in that coverage and be year

product consensus I seem we We'll that, where revenue which be. potential negative. the our is what address just we products now, expect think know, that range, we and doesn't we point from would right be or wide, approvals that probably did. But that Forteo, this You all will out from it and but is looking may off set existing with as that's have guidance other at overall, the there why we we be more positive to far our

Operator

We'll from take Amsellem question next our Piper David with Sandler.

David Amsellem

Thanks.

or you're the assets, how landscape think your regarding a proprietary your And portfolio? safe at give would few So us we assume similar to out some accelerate the it's first your be XYOSTED will on give specifically higher any just questions, TLANDO on first a of development to set be of and portfolio to that? some way about of sense have similar how XYOSTED in-licensing streams to to royalty color in business, build do similar as of to out being about these a to products gross building your commentary that look spread a TLANDO the payer you of about Thanks. the us just you monetize ideally position higher-level to whether partner you maybe of XYOSTED is should particularly question that that WAC net think as And the or that's going then proprietary in so questions. that to to given the the are and it least range of a

Bob Apple

really as oral understand can the not with doing, with first value I'll price needed. the wholesale lot The with of see WAC. on we TLANDO acquisition to Thanks, take proposition payers yet, we And is, again, a But on market the David. out or question. have Joe decided a physicians twice-daily we a question capsule. research if answer have help well are they and, still as that

think a well so, use we this make And of and a internal up as TLANDO haven't where obviously don't value warrants that want we any branded that wind proposition price in some XYOSTED decided going forth. out what's we has numbers there so for clearly point which to But modeling as we're range the And just is, [indiscernible]. we yet. at assumptions to, our

going so able want add as more a, And we to and closer get that. warrant believe of in-house to will it to you if there we would and type be a overall, to guide do information product a there branded is Joe, get launch we in on bit that that value of better. price But model.

Joe Renda

know appreciate options. as mean having options mentioned, we the that I I physicians -- think I Yes, that

maybe of for one know on right the that things, is. our market also team the think we same role the other wasn't So that talented uniquely the we is

what we We saw think than the authorization Especially the launch we the market. that fairly, be so one our TLANDO fairly more with well, also other process of can partnerships well. USP the navigate in will also with in successful help prior

will us I I then the where said, those think as launch out we access So place as certainly and to it's here, help similar a get we the get mean. to that,

Bob Apple

other nets would be looking right be cards any we gross David, would I programs would time. period similar net, certainly looking a of programs, XYOSTED or at be product our to the we similar with at we gross doing at whether have the over looking something it's now, to somewhere With that think we co-pay

very going expect it's be coverage over going the because, period it's to on judge. to to But I'd First-year and of unusual rebates, depending similar be hard a the time be right growth. to

Joe Renda

they it that sure I into come use The really and stay that, play, first for that patient if by a free [indiscernible] response covered we things on product, think not but get covered and gets where it's for product programs product. for important we or there'll different and like the be obviously, if to because tend waiting to they and will if still the and said, not and be making it filled. that covered, doctor a that prescription, on and coverage the have initially, insurance, that then positive that's you us I that we're still gets writes as valuable

we level. not gate that we XYOSTED And it so where as coverage took XX% we out same have a because with might aren't to to the to get the year of going clearly -- have do

offset we similar For payer overall, those to see to normally would the and can things probably patients in reductions that we help coverage the that XYOSTED see probably some so of do growth. and going you those other

Bob Apple

SPs. didn't even we have do we we Yes. when partnerships, didn't And XYOSTED today launched the we with have, the

that's we launch as partnerships kind difference on we another of at that of jump we anticipate as regardless coverage of get the got will the valuable SP TLANDO patients into least So we've be there.

Joe Renda

offices us. And they for pharma some help adjudicate Pharma those and of who a and SPs valuable we through terminology Specialty where is tool don't the go and understand for been -- the claim real doctors that's specialty some the the of they for are smaller the

when to As SPs in and we first with for those continue you we XYOSTED growth will place get weren't know TLANDO. XYOSTED launched use same

impact later. have to as And for actually so the sooner we positive see that ability that a opposed to

Bob Apple

monetize think the was it -- I

Joe Renda

Oh, yes.

Bob Apple

-- the royalties. portfolio or

Joe Renda

David. you, If

a especially revenue amount that of you tremendous been when Epi, when that amount value. think us for something look like royalties it's our -- a I at at look tremendous we of and

generating are cash from significant We amount operations. a of

ability valuable we to our our need new that corporate and monetize organization right I the us. think generation opportunity the you And believe now topline don't believe at the We it's through development the the on to so royalties. that best have need see additional that's if growth the -- for avenue to see business for we or debt don't we more at wanted through to look cash take revenue

something not, do sense to it look brings revenue our for need I OTREXUP. well. of amount standpoint to and And again divest nice we so looking to significant cash. a as we're potentially or at strategic royalties. us we're portfolio to pros look generating a cons fits of we're not portfolio a But looking makes idea vision stable whether at But amount our with said and at continue of an We from at as looking monetizing pure our that and that's OTREXUP the at as

sheet strong as really feel Our balance is standpoint. we a leverage where good and from are pretty as far we

Operator

We'll with question next Elliot take Wilbur from James. our Raymond

Elliot Wilbur

Thanks, good morning.

commentary, have current thinking in question First and on the and this may asset of fact Bob, missed prepared Pfizer undisclosed just but just disclosed? your and in to I may where is get when be on if collaboration the for it that wanted update an for status the

Bob Apple

Yes.

the made tremendous with of of with despite on spending Pfizer on them progress looking on we're vaccines that's you QX and we our lot So and Pfizer. with strategy obviously you program in know COVID-XX that we're a so a working amount know time filing --

that needs be to in what well You filing. know, NDA as you what's the best timing-wise, approach, as know,

pen. potential so that then when hoping the far do because this expedited believe know around know, that we're that's we you gets there -- area rescue that you have And we'll a timing And some is that you quarter. of as review filed clarity know a of it's in as it

on And so, and more come hopefully, to at that. will what filing believe the product that time it discuss is we we obviously you or know

Elliot Wilbur

recovery rates sort of space approaches patient sort you know turned couple in physician-driven slow Joe, help said close about is there. to you see of gap? But much particularly I the in think somewhat with a you maybe of Okay. terms look ask suggested of in versus and your if visits, office. want to how XX% urology I trend like does is worse, within to then you office respect activation about highlighted actually market terms urology below, it's strategy to how I I bit guess driven do And the questions of altering just think patient line guess numbers actually think that of encouraging This that is, different of specifically you guess trends a I it's corner a little overall I we'd guess

Joe Renda

It with mean it's it, strategy. we've more it you gone what's point so of reasons good trends one back the at, say and visits it's is as trend a get a seemed the versus speak, similar We the up jumped Yes, than right, we question significantly you space you're challenge to of combination as for particular, question reasons that And data asked towards driving visit the didn't on in physician market QX the seem about like see urology we challenges timeframe quarter to I certainly to of that first situation. definitely starting significantly it we but relates but then, challenging is sort the was you're and then the good we're no space as certainly it and news of to a up. especially subside. improve back patient we where patient sort subsides go the access starting into the come urologists I down our as following the a kind into though of soft the endocrinology visits is strategy, asked matter kind get good to one physician bit the back And a patient in really here started of access as because in as I does it then of a when kind that's why of really volume as sort see variant we the of you got But the physician year. are of why see variance what to it it is patient to of QX had, QX. our starts in as and decreased QX heavy of look more access out started challenge the digital pretty some to into it got gate access to variant. still And

as partnered healthcare of campaign a well help on that's our a we digital percentage providers, high So campaigns even consumers, patients and we to as aware, not doctor, well necessarily to NRx HCP's be invested both out as an option unbranded budget them the for as marketing our been there get standpoint to think branded the and both testosterone for we NOCDURNA if with the going treatment that as well from get brand. they're on a to good available with word is

you've volume we scenario all So think in of digital patient that as pointing helped seen to really and decrease, to things the signs week, is so starting mentioned week far, but to back growth are kind the that that we've where and strategy garner ever seen even beginning some of office virtual that all it towards to we where QX. was we're improve in-person in I last our visits had see physician highest go has

as to in to how So not long where it direction. it will was it's pre-pandemic I sure back but getting better. that certainly I'm though seem the to think take get going right

Bob Apple

know back have the variant that the before challenge, our large hit robust spikes normalize growth start only and it an a to third QX quarter-over-quarter prescription believe and where Texas kind quarter Texas York see to flares a extremely and subside. we very it in seeing and trends at of areas that So key there you we'll were the we're really from because or But And it large think Delta large it hit. was we're starting growth saw amount we Delta of with the why lot impact I seeing. variant, think and our see we're if material hit or where is looked in a I again was our standpoint, the have the spike of that's thing you to I the too that in all would really of comment that and Delta. a, a of We New major we in business is metro

overall to seen really and feeling never See and the the we've those access growth to critical getting as see which for So with hope know unfortunate for us. because are Delta, but type the want about new and be with that good we're we issues everything it's size behind going aren't that of the is us and that us, doctor's COVID-XX we offices thing to really it's on treated difficult into get are patients Delta. patients you

Elliot Wilbur

guess, as I question And Okay, thanks. and Bob well. said Fred. Joe then And for

continue thinking of in investment level Just even I just elevated the about the sort get clarity the SG&A expansion. trends, of in to sounds the there as force is more to sales of the so business timing sales an force be outside like going of expansion, to want terms

terms difference of ahead of the incremental investment of just question, So Rx's and I guess benefit of then that's for thinking TLANDO. at of launch of think is Thanks. to XYOSTED on least offset you last drill that that being are guess how preference preference sort terms about between you able one in in immediate on spend there the TLANDO potentially segmentation. product between down urologists. prescribers and you oral be as I do that, sort with the in going But differential an [indiscernible] to and

Fred Powell

think I expansion. the to sales regards force Elliot, that of part the with Yes, first

into going this representatives. by of this next the the XX year as a and we end -- have end we're then sales have I So year. mentioned increase XX% of the By year go about we'll to

have those in quarter. next can launch, we the in be of for plan which will so the that board year, second quarter Our on to prepared first that folks be is

the prescribers. what prescribers about kind it for opportunities able the and as of part to as going for segmentation do to that's evaluate an be where not year we opportunity substantial or see whether the we'll be do then currently think to that you calling both not We're TLANDO's. we need additional to current expansion, place TLANDO. well a the or to see us relates is as of kind do with as our So with we with unfolds we And because asked is good question for most taking to but not, on, we need there folks

practice prescribers. in dyes we're especially potentially in non-injectable that that today, currently in of. of that when also where They have those example a use be take sales. is there advantage ones high data, has are patients most that not our on to can at their deciles those seems option high The have is we that we've users obviously preferring calling still business current gotten some those an the lowered customers some still our are as of prescribers, so do So [indiscernible] lower gel in that looked its they

TRT us as garner degree now cover deciles to the get that we'll size we're able customers to our we able the sales think XX% we be that going lower by lower increasing TLANDO the XYOSTED. see some But both to with deciles market size for ground So definitely TLANDO the and a of and there be and potentially opportunity, to those our a that of TLANDO TLANDO I'm definitely good those to force opportunity to ground mentioned, as are those and higher sorry, be well for is debt we sales being that and -- good going

Bob Apple

be We color were end year. at expect additional that. around XX XX in some on by the provide representatives end of the to -- at to at of just And QX, we the

opposed And expect in an for beginning XYOSTED now XX to to clearly, do asked really so QX [indiscernible]. QX, next the of see having as in who XX in we reps year. that The and question you is

very to, growth start expect once when I and we in in significant running. providing force the in you'll and full the team of QX for the we're XYOSTED. sales doing For think on it's this as then XYOSTED in growth not that significant year, think in get are XYOSTED we year, balance QX. of of more growth up And will then revenue and purposes a and we positive to will but we increase on through see the that obviously guidance next alignment that by a end we XX% add a clearly, that all the QX based yet cycle through impact for get that's you'll TLANDO. as, QX intents we But reap QX, have when other hiring And on have impact that also benefits going

when of to provide that we and again expect the see benefit of We the guidance. through balance XXXX

for that scripts clear see in think We the to is to begin there. in our will there team of that out our I some benefit increasing of of guidance are provide a you'll expectations increase what sales is we in our coverage order penetrating are probably and are that XYOSTED XX% all the

Operator

next our Anthony Jefferies. take with question Petrone from We'll

Anthony Petrone

for strikes us trend off It's maybe look -- XXXX. sort obviously the at thanks year, XQ is fitting an XXXX. in than update easy again here, but get versus us the that normalized of specifically 'XX in up higher the EpiPen we and coming last could trends XX% of trend Great, of comp

then overall. a Where at are there do time XX%. I and elevated on you couple maybe it's think and between follow-ups. some And Thanks. thoughts the go as can spread look why have over share Mylan of just Teva So that's Teva, you

Bob Apple

Thanks, Anthony.

to relative Teva the in third to On the it are in even able QX to achieve, higher was Teva XX relative market. what the able what I XXXX to was achieve think it about and wasn't quarter overall actually was market actually the up XXXX, market just of in

the The year, last in going third school think we that obviously year, significantly school. back-to-school. because was the we effect, it down that normal, EpiPen was higher quarter saw best is because was quarter previous hope for and really, to than back I and year always to a it from QX -- And one's last back because of no

was the didn't for X to house typically whatnot. pens parents natively car have they or They packs. happened the two I or one think have their for one are and typically what buy school need

cycle the they saw anywhere normal on above they were issues at because to they we're of school, we because all peanut going worry probably here the is whatnot. about they going butter weren't think a probably weren't exposed or pens weren't I they growth whether normal home, that to they back buying type

And XX% and us share. was it QX so near do obviously a that of we Epi we benefited channel that do, market overall market because recognize for that was and fantastic the

- And there. the at goes away so normal market we will some be COVID believe giving that back-to-school hopefully the that the at point

into of in have the it the think a for makes more and affordable think generic it's pens it what is is, I availability also down around. to price helps I brought generally, market we the people when those brought too and

very previous market answered There in we the it more year forward. with of next think there's news started I And so that time more that - for the next to I'm previous sometime of at 'XXs XXXX. have the year just The and will share. because between kids the more, is the the to that good the level, start be to could us market. in not answers, I believe that low question there like strong But same continue sure that availability happen from year we same year XX% back-to-school, devices be the are kind of analyst market going stay what's to relatively anywhere going allergies. peanut do XX% kind on percent the that is expect we this and overall,

are. both what historically It there we It's can a interruptions, and XX% always that share. product So we're continue us. of grow from We are Teva market opened, versus I our take click or doing for there that been very supply good expectations just that if interruptions share XXXX more Teva may lot going from we think to to Amneal. predict if expect but that has market see of the can't we XX% supply Mylan EpiPen in a maintain and will growth of see to XXXX that's

half have expectations highest remember, Anthony, you this get that. were they already our If would and market exceeded

that happy. so and maintain the And very We're that. it's I But done a I organizations. markets fantastic great not we're think think job as they overall also they can for happy that about have only a very, both

Anthony Petrone

on A couple [indiscernible] follow-ups agreement. of

that kind what XYOSTED think option then sort like that you And year. at XR of Thanks. how of between timing. on pathway you just play competitive sort looks closed effort the looking out XR just the on also with an and on expectations development dynamic launch develop will and next TLANDO thoughts of TLANDO to high-level secondly, into and so Just the

Bob Apple

our all is high that view they by complex they hormone-replacement. offering their -- straightforward. the about this titration the what sexual of And so with conference, medical medical which have with pleasantly as Anthony, with So, in unique schedule, that -- really as briefly their comments stressed the I the disorder our SMS&A treat will which XYOSTED a the and and a as for clinical this no dose about their were was saw of gathering the is that need well talk against in profile professionals familiarity mentioned we TLANDO the really surprised really percentage

a the steady-state. it complex on get patient fairly takes of lot a other The is product market a and kind to to

how So TLANDO as with need a be think big have way, with you'll those the to going a meal potentially to we they it the with need we had what versus a that's factors meal, on well us, [indiscernible] of take as of either is food, differentiator. for commented you may but, of see we upside you see as kind need standard size difference so being what

we with be as in before, with us force wasn't sometimes is patients We that that that process to complex the got the the a offices field for for The market. pharmacies the other because think of very authorization is I've we've prior going familiar therapy. knowledgeable process that's could other works was specialty big to the product get our advantage distinct that's also a the on and true navigated help in partnership differentiator mentioned how

the that to gel, they oral, an once to things, different to market options an we clear want It's are being other and patients. not try than injectable we a have is available. those for in fact good that's opportunity so do very position with certainly we it's the an market the best with what the a as think we're of So that ours oral and saw very the the going option not something

Joe Renda

as with really of of this into plenty well. a still this market that's see a an head-to-head room don't competition do ability gel for we products is is that in with market [indiscernible]. market And a I to really see mean as we this large really to there go and number

gate the one we're that of they on XYOSTED to product we didn't really key as think new have benefits really and It leverage may is focus had physicians, launch established going of the coming have an sales the out have not no which the relationships benefits of with a of the the relationships. well in so competitor things was team. believe TLANDO as what the we and And I

solid practice. serve another large TRT we largest there relationships in your writers number going have in very different again need some the go to that we're and a may very, patients offering a with for of Here with

that And a market. so an we really for lot in all and opportunity to think see there just wide is large to market net we it opportunity the in products of a as the cast a

Operator

our last from Matt Kaplan We'll take with Thalmann. question Ladenburg

Unidentified Analyst

is Hi, on Congrats good a this for Raymond Matt. in quarter.

it two the XXXX? think wondering filing Just reflecting was questions. are should quick patient how we gating growth I steady for is coming visits, XXX.X IND and in NOCDURNA factors more what Thanks. 'XX, for about education in the

Bob Apple

important take still had at down. I what you cycle first patient Thank pieces there's with where Yes. you. the which a that kind it volumes yet you that time would of that NOCDURNA. about part NOCDURNA. XXXX expect full that One kind is post-pandemic key on of seeing normal is and was we're period for having kind post and what immediately sales really the of yet we that probably know least three launched brand is like haven't about a the we when NOCDURNA with question for I'll of of think NOCDURNA you through saw launch appreciate fact

I other that type been programs out increase do launch as that really and asset as is mean, which so things important you is that the So looking a our field to I that year have past NOCDURNA summer patient. us with part to with we that with been types that help as a is this huge force physicians a, think of mentioned is enable patient we're clearly that able really helping identify education, the NOCDURNA our messaging for education. we articulate physician anticipating an us that is is patient clear full well physicians two speaker and they're for definitely underneath NOCDURNA the think we brough belt to to as will important one a have

two So think ability grow is big people that our those to we to between the that that we third going as that we sales us cycle, thing also things we to be NOCDURNA. with in market and the be sales that help footprint with have to would think asset a educate the that regards the

So physicians one you sorry, of the that patients can the educate more they I'm things more we that the about the is rather identify. realized more patients. brand,

able footprint by on call in able the force be be more to sales larger identify having will to patients. prescribers a So and more

NOCDURNA benefit will well that in think we So as 'XX

Peter Richardson

in the in around it's very product. we XXXX, this make John, some treatment of deliver weekly Peter sure been the quarter the helpful opportunity that that once area. can we has data generated We're last in for keen understanding this to

preclinical So has over further that's and then before clinical to that then used allows if advantages on mid-year which the to date funds be can data going and some to well the the we that studies, merger to in model do next tested take the the formulation, to finally this that used around R&D, expect year been goes go to all which have have we model us

Operator

session. At conference That Bui turn this additional today's any or will back Tram for question-and-answer to the concludes I time, closing remarks.

Tram Bui

me out have Please feel a if Thank us you everyone you day. joining today. Have to free for reach to questions. additional any great

Operator

This you today's participation. your concludes Thank call. for

You may now disconnect.

Antares Pharma (ATRS) 4 Nov 212021 Q3 Earnings call transcript