BDSI - Earnings call transcript Q1 2018 | Biodelivery Sciences International Inc

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Operator

Good day everyone, and welcome to the BioDelivery Sciences First Quarter 2018 Earnings Call. Today's call is being recorded. At this time, I would like to turn the conference over to Al Medwar. Please go ahead, sir.

Al Medwar

Thank you. to Sciences welcome earnings quarter and call. conference afternoon, the first BioDelivery XXXX Good the are President; call Chairman; through us Leading today Chief Paolantonio, Financial Officer; De Herm Mark Executive Scott Ernie Plesha, and Chief Officer. Cukier, Vice Sirgo, Markets of question-and-answer prepared Scott. National from us following join Managed Bullock, for will Mike remarks Director the session In best data the this communicate order during using will we be that call, to slides. will be discussed joining presentation, by will be able follow and Those posted for the the those the on Web webcast the on phone, along to are slides site. with BDSI said, Harbor now That I'll read the Safe statement. company's statements defined Certain other in public made the Reform Litigation in contain of XXXX. today's any responding BDSI of call may or statements Private Securities that or management of BDSI's documents its Act and as to statements questions management during forward-looking Such and on forward-looking and and the future, current of subject are uncertainties. assumptions are therefore, and to about beliefs fact, statements not risks statements based but involve management's are significant

include, Forward-looking respect and about future. without expectations to the other similar statements intentions projections, objectives, limitation, and may plans, statements BDSI's with statements

by those the based subject statements. statements set BUNAVAIL on relating are change of and results, defined also in upon risks The commercialization words and and Securities the and of various are to may or forward-looking uncertainties in BELBUCA significantly the factors, of from forward-looking typically significant intends, differ expressions. results risks a potential to management will, and forth BDSI's are without expects, beyond required anticipates, of by obligation should, BDSI beliefs as otherwise, statements result BDSI's such law. are estimates, statements, are new as whether those to publicly BDSI's which subject plans, note limitation, may, filings as similar statements with except no These Exchange could, the Forward-looking future as information, current actual update and applicable detailed well that would, including based or any uncertainties including to today's forward-looking projects, events beliefs, of Please undertakes as conference many call control. expectations Commission.

to BDSI's these SEC that, described to statements. for advised turn factors review to achieve forward-looking in could With Sirgo. the Mark risk over call Mark? impact the You're goals filings I'll BDSI's that now ability

Mark Sirgo

and first you XXXX Officer, who Executive financial you, everyone for a introduce on Chief Cukier, It's company joining new week. Thank conference pleasure joined us call. thank today formerly this earlier Al, quarter the our results great BDSI's Herm to

skills, to that extensive background excited Herm. We extremely welcome commercial search did an thoughtful to and are great We and and leadership find strong believe onboard. we we an individual with found in Herm person

We that are joining could truly time the BDSI next believe take excited company behind we BELBUCA the about when the to a at level. growth we Herm

sales throughout which under his well than Health company as reaching the of of in Women's company's sales, of billion Commercial was there. Head executive his segments Eye company's both into a of to BDSI with led Vice as his pharmaceutical As also businesses and the Herm around Head our years. week the Care growth at where being earlier Innovation uniquely of biopharma $X.X pointed Division, of its Head fastest-growing tenure and a its the was its Operational out, $X.X XX this in press is was was brings largest Leadership Allergan, annual the past over having the at He commercial most the a most of qualified extensive world Team seasoned Division, to role. high step Allergan, included from leadership release more billion. Leadership member leadership the peak Senior experience recently a roles to of the success President Team one Worldwide Herm Commercial recently He multitude

coming been with during few today's will only was overseeing Herm to days, him career, Scott various in-depth road conferences would extensively like we others our he, him his you meet During management from shareholders, the hearing Plesha us to branded be weeks year. over but investor team spare questioning Herm a as with this be will including has and on hitting Q&A, the XX Since the any products.

And the So, enough, his fantastic the the driving to company. an overseeing dedicated want things extent January while since new to look continue Officer successes businesses Scott Plesha, BDSI up over thank turning has of commercial individual I has take our Herm, incredibly a acted needs and meet to I at Scott levels. them Scott's at and who is role, operation BDSI also Scott entire done the job a step before managing to however, to minute I the to who thank to Corporate X. continue. as company's forward

turn to let So, over results. quarter you. me Thank Scott now before first we ask our to things Herm review Herm?

Herm Cukier

honor Mark team Thank growth suiting founding goal such at and is BDSI My market and the with over an growth the optimally-positioned from next Scott. the evolving of time. to will weeks continue introduction, job vision excellent build an you critical take will BDSI firmly I BDSI Board I for role interact longer-term coming leverage and CEO managers guidance for excellent good have to our Scott to Mark the work your BELBUCA. afternoon pain with all have our BDSI. laid to shortly in on to the is I believe and about my BELBUCA. staff lead It product and level. ensure the as the an the the from begun to field favorable upon for hear category It you more already for with dynamics everyone. truly and that at exciting are that and will trends be ideal company is kind

call the on meeting vision team, excited as to company Mark of the forward the long-term turn foundation, position you. to growth, rest over management Scott Board very investors well I this for with Scott. with and the As Scott? the the the I already-strong as to and out that, BDSI's In and interim, and soon said, be communicating in to will to BDSI. long-term value as the look Mark considerable I'm with will we unlock build strategy correct now With work

Scott Plesha

Herm. is you forward you, BDSI. of behalf management to working I'd closely have you welcome you. to thrilled looking team the The entire and to personally to team, On like Thank here, with I'm

brief more Let me with to of accomplishments key before on a begin high-level our recent review details. moving

strong growth of First prescription pleased I'm to and year. quarter the report revenue this in foremost, first and very

revenues a the BELBUCA strong an prior further to first XXXX. over the compared and the quarter, first totaled prescriptions XX% over a growth driven on, As BELBUCA of increased XX,XXX first the quarter, elaborate the will were which to by of quarter, X% quarter in over million quarter increase of in XX% XXXX. These $X Ernie revenues increase in first

last managed BELBUCA with We week. the strong in prescriptions for prescriptions XXXX. care sales well nearly And prescriptions. commercial over in weekly total of is is high assumed BELBUCA are proud BELBUCA with responsibility are March, when all-time an double XX,XXX coverage. number BELBUCA growth improved April we That achieving weekly to early monthly Fueling our prescriptions high in have in reached prescription all-time an

Humana, with ProCareRx, quarter, and CVS/Caremark During the new first were implemented. contracts

the largest March Xst, which provider effective country. is the in a Medicare As reminder, second became Humana,

important with sales preferred of a the an are thus of challenges improved recently have of that BELBUCA We understanding that creating in the its moving opioid completed also opportunity BELBUCA's subsequent are space buprenorphine payers for sales contributing throughout received the created from beyond. growth the Also CT headwinds believe to management prescription And is better compared to chronic pain. opportunities providing expansion status, to coverage same with UnitedHealthcare. opioids our in differentiation either force. role and We us of and or the XXXX adding the

into five have additional regional As to within to the number territories. we the of translates from territory discussed our increased managers managers X,XXX-plus targets on reach March nine. sales and This increasing of call, XX, number physician frequency our the an while XX from

territories, from are of believe realized full seeing believe in impact impact the will year. the the the we additional half sales we be second While be

call, our end (Canada) January. Purdue launched noted at on I BELBUCA as Finally, Pharma of last the

The first from of to sale a in first payment in Canada quarter. triggered commercial the milestone BELBUCA BDSI Purdue

double-digit positive. be for (Canada) from future will on eligible to potential milestone. feedback we reminder, receive Purdue and royalties be a As net continues sales, Initial also

Now recent sales first key you review quarter metrics. BELBUCA's and share me performance some let with in greater detail

our looking at prescription since see continued First, we weekly and weekly continue range, first in the Of in now a X,XXX. surpassed note, to X,XXX prescriptions, year. which trend a BELBUCA the prescriptions after the quarter total high solid new it the we have we had of starting upward

started XXXX with solid can in see, have you BELBUCA As we prescriptions. momentum

can products in pleased execution have in a evident be growth particularly previous on the this weekly is prescriptions achieved a of expect data. encouraging you'll to year had This March, pain Moreover, which delivered all-time growth XX%. for buprenorphine of when of with it share largely is a jump promotion the the total our chronic to slide, market particularly extremely grown active We're just March we the a of continue which which April at month see of based next been reached for the month in all-time prescriptions. On new as team. high this And high as to January. the and strong on XX,XXX our BELBUCA's we was well, focus attributed BELBUCA as prescription monthly nearly of the is of end commercial over we strong over has XX% impact with over

to with past progress expanded we CVS/Caremark the Healthcare. for added two you'll other plans United turn let's important BELBUCA, with Access and Care we Humana the and meaningful continued Managed plans Now ProCareRx, see making and new in two access quarter, are where

Finally, BUNAVAIL, or and compensation prescription coverage growth third impact Ohio meaningful access The new for has improved on exclusive had of coverage began our we trajectory. has of a workers BELBUCA beginning which and last week. visible have

to and the first you fail two of and slide, contracts, BELBUCA a Humana. access try of can January expanded and next XXXX. must Butrans. other BELBUCA the CVS/Caremark as On formulary these Tier words, moved can access X, patients CVS impact X see they In preferred before from

is prescription result change, prior-authorization, a both XX% Medicare the agent prior X, a growth was which March as adds this BELBUCA as of advantage be is preferred commercial BELBUCA other business. meaningful and the can of for up contract for in this at our of and also As BELBUCA quarter. prescribed Humana new category. over requirement a importantly

began range the nearly March, in previously. already on shown change as Humana is contract this BELBUCA seen XXX prescriptions of its we While impact XXXX, this of quarter The the had in been year here. March this first XXX we to having have after impact sold prescriptions in just in noteworthy;

progress and positioning growth future, wins. prescription formulary we Collectively, look from solid forward, significant we new this ways. continued to BELBUCA. in the believe reflect improving meaningful wins to and coverage summary, the the highlighting BELBUCA well-differentiated Going is contract, contract benefits of formulary potential are about and strong for value further In payers our in we have achieved exciting payer the forward and and improved

potential depression II unless effect it and part Care the opioids goal that rapidly ceiling the the In with BELBUCA Managed to lower compared addition continue to fact its of and improving treatment. BELBUCA and and We to appear opioids, addiction on national Access, to P regulatory believe improving addiction with of initiatives should supporting conversation Schedule work abuse access. management, on be evolving several we exhibit legislative patient dose

behind we last continue activity in process. in drugs and the a been involved to increase significant in legislative ongoing effort and opioid has the quarter, the in put the dialog legislative there crisis, being Over

guidelines, around new them chronic continue from of prescribing pain as a Medicare see is Legislation bill Schedule II opioids. use strategies at Health further Congress the the that announced language well as like Committee CDC for as III pain Also, of the the a to Senate the the to guidelines. and recommending to CMS prior advocate help to guidelines value Regarding such opioids sponsors using their address We'd Buprenorphine recently to updates CDC Schedule Buprenorphine epidemic. opioid number has

limits. likely the where pharmacist with Schedule in potential sponsors II pain it that be other requiring opioids any the with on payers the II has on This pain and may reasons the seven X.X for or be CMS this opioids. will the to CMS not the prescriptions Schedule This implemented impact same chronic not also treatment for edit manner daily-dosing for same recommends to beneficial for dosing consult Buprenorphine, include pharmacies as could in at in or instances impede that of documenting may or This use million Medicare is initiatives prescriber instruct would scrutiny This subject many literally prior among wide levels. BELBUCA of they limits this to the as Buprenorphine days, Many initiatives. recipients. improve acute of treatment. hundreds prescribing above the a opioids those to aim Our some dispensing beneficial the to to are maybe access management-related of dose to pain array to the issues. There and rules address being just addiction introduced dosing to This are of legislative implement level.

these We summary, from in significant players pain force continue as away as the result efforts, focused drive voice time which expansion our market. through of sales at our supported our important are a efforts. middle of have a to our on BELBUCA discussions by when other will in now and category management specialists invest remain among at In time the stepped sales, our are the greater of continue sales we incremental catalysts, share in we a of will to will such primary emphasis look efforts, number

on advertising forms and As promotion social our efforts, journals Medicine as broad-reaching call, to advertising have pain increase the ads, to recent such alluded News, of banner key our utilizing earnings non-personal we Pain product frequency a media and be such to last BELBUCA implemented force sales messages. the also other supplement and targeted of emails, in we'll for

with BELBUCA look to are launch look excited remain BELBUCA market. Canada, positioned what forward up in turn Ernie to far force, and that, the new expanded well in quarter in that financials BELBUCA BDSI's and we the in summary, we more strong the confident first results, meaningful very so as our new its care then beyond to we'll over strong QX, and growth and the we We and our growth generating forward trends With sales for Q&A. managed seeing. I'll legislative is of CEO, pleased and leadership Ernie? Finally, are remain are seeing things with on focused XXXX. we recent XXXX in continued about are opportunities, sales uptake that to detail, promising things in cover and open Herm's In in

Ernie De Paolantonio

Good the first $XX.X first afternoon for In quarter first of strong of recorded was on briefly will of I increase key net XX% BDSI from Scott. Thanks, what or quarter. million versus some quarter, a everyone. the XXXX. the financials a total $X.X review million a basis revenue comparable

license year as made deferred million. there of QX which XX% of $XX.X million. XXXX, revenue the part million total in of $XX Additionally was revenue in BELBUCA non-cash revenue million, revenue totaled released Endo the termination up $X over prior $X.X

net XXs percentage in XX% growth First BELBUCA to percentage was due profit to business. Gross co-pay the the of increased that quarter for in cards and usage higher Medicaid gross tot for due first upper of organic was BELBUCA quarter. use

XXst, in speed profit both migration for We to was with Total expenses Sales QX March the marketing to were additional in gross and our approved million, slightly the $XX and expenses improvements first the when from XXXX. million and expect commercial were $X.X cost $XX.X million, over high quarter ended expenses were and million. XX%. compared was G&A newly flat $X.X yield of equipment. of Total products quarter first expenses R&D beyond operating BELBUCA packaging $X.X million and

in license XXXX $X.XX the expect deferred to associated marketing of from sales in QX We $XX.X the of per of resulting BELBUCA $XX.X purchase programs. support the marketing or slightly $XX termination to income million million of $X.XX million million per Net with or total share and $XX.X revenue Endo. of compared with the the as the both second was and see quarter in higher ongoing loss in expense and share

now And question-and-answer you. March of XXst, $XX.X session. turn was as balance I'll cash our the it to million. Finally, Thank

Operator

go to We'll Brandon from Folkes Fitzgerald. Instructions] Cantor first [Operator

line Your open. is

Brandon Folkes

taking thanks congratulations question, Hi, appointment. Herm, for my and the on

historical that in on and this it, Firstly, to I current to know on within of just you to to cash layer prior I what the going the frame need I of the anything your range you yet, looks just about so quarter when BELBUCA in firm think the can of BELBUCA runway on you we I be thinking it BDSI, well the about another know was gross on think then new BELBUCA Ernie your won't forward. touch address means you elaborate spoke Secondly, on but to ask at that. how extending with wins? you about to know about were or or call could looked formulary terms you. BDSI to in-depth potential in we there? could do going or means this, just net talked platform? just touched there we Herm, strategy and diligence Should forward did the on net just maybe your else do was think and maybe And and gross near-term the it you in you else have you it brought Thank potential but way, of

Ernie De Paolantonio

on range the to a we net said, to XXs. is as first Okay, upper gross always relatively question, similar it in the remain we the expect now, in

gross the [ph] payer by going mix dictated naturally forward. to However, is net the

the at On runway, of cash average about per we're million looking quarter. $X an burn

of you with million, So see next in be the the $XX.X quarters. couple we'll can

Herm Cukier

Hi, kind words. you for this Herm much is very Thank the Cukier.

potential. and a rounds a of business, existence. earlier, to of I'm and organization differentiated say new feel and here wonderful do opportunity with a As you we team everybody. know have to in very kind stage this and forward that getting lot I that very the product I I continuing, looking is do meet join as of that will commercial an go for me promise and a was just team and with the said, to to and the my said then

is need. still very it's amount important I in there significant where a of think clinical a space

in shared, as success. very positive here my trajectory momentum strong a the the during with meetings impressive and culture we're to I company that Scott and impressed even towards also And product. further the build I the Board by leadership found was the very I ambition diligence. think with very and

the So working with I'm to to looking forward much forward. to our that discussing moving time to team forward very look further. appropriate crystallize And strategy

Brandon Folkes

very much. you Thank

Operator

ROTH to Capital And Henry with Scott take we'll next.

open. Your is line

Scott Henry

Thank afternoon congratulations, Good and you. Herm.

jumped within up last BELBUCA script. hit script. around again just up to My you hand, me it lot a roughly talking XXX my roughly this get about a year, is number questions, trying other of jumped last third just XXX revenue revenue to of BUNAVAIL, year. from, arms on BUNAVAIL. certainly I range is think couple looked the talk say, know expectations in of the the and for year. of of In per quarter in fourth Let on XX And QX -- about quarter better kind up gross just or What's net and in per the the to question that? XX, the about to again we're jumped

Ernie De Paolantonio

it's Yes, think forward. to is Ernie. in good number XXX that to hey, of Probably a range XX Scott, of going

you have better some contract, that doing TennCare well as had. our on now adjustments If to we as remember, rates we the programs

Scott Henry

then QX? there about we did Canadian How great. think any you royalties couple in Is in Okay, lag a $XXX,XXX And royalties, that? there? The questions. modeling of book should

Ernie De Paolantonio

report lag. is report a their revenue get we double-digit royalty. They When revenue. have they yet there Yes, to a

Scott Henry

Okay.

Ernie De Paolantonio

lag. at there'll least a quarter So be

Scott Henry

thoughts that? looked on that looked first at pass little the quarter, least any to a the on it low bit And COGS in me,

Ernie De Paolantonio

they low… say When looked you

Scott Henry

the gross seems than quarter. efficient higher very were like margins I It would've a Well, anticipated.

Ernie De Paolantonio

better the Right, XX-plus that BUNAVAIL it's level, again, at to net incurring. and to lower continues to an gross is perform due doing BELBUCA

Scott Henry

Okay.

you is like sustainable? somewhat that least sounds it So think at

Ernie De Paolantonio

Yes.

Scott Henry

when trained with reps then enter field? and they field, in the if to they And for so, did BELBUCA, regards the and new Okay. are

Scott Plesha

thanks for It's the Scott, question.

were three there So of second trained and the the weeks week another ago. about them [indiscernible] was in majority January, trained

six they're to from three it in some and We've you up months already the know, get see take impact So as to really territory. can started full impact. But to see them.

second some that imagine But in the come will really we're again, believe already expansion seeing nice force. actually that So uptake that we at full -- half territories. some see

Scott Henry

overweighing the final when just opioid that would situation then And with regard can in category? make pulls, that opioid to tell a your the and Now, market for BELBUCA category? fluid. of coming preferable merits environment obviously environment is but me on more how a certainly to opioid. just And the What's the the But you just sometimes sense pushes have the should is question BELBUCA scheduling great. for Are relative to under we the it's it about helps positives currently? whole think the Okay, BELBUCA BELBUCA, any of pressure, category wanted doesn't. the and you I they declining very good the are, sometimes color

Scott Plesha

the in look our already that's the potentially think think managed a preferred added last just potentially Scott, how seen months -- though there's we've it position at kind to crisis there's there plans I of the within have of I the they're the indicative a dependence these viewing mean, these and even we've growth I have. just for added less year, last and And cause product BELBUCA to last trend year-and-a-half over for a may great pressures is if less be care abuse, status us been in question. we the things the plans, definitely market would or how and managed to of even with likely fits product seen care more in world, pressure the prescribe that opioid the you moving in preferred couple then intense or in be two.

uniquely long-acting this benefits. we're much space. provides space opioid There's checks the that really positioned in not we the boxes the in do feel else that we So

Scott Henry

you for my thank you color, Okay, taking that great. Thank for and questions.

Operator

Lugo question Tim Blair. William next from comes our with And

open. Your is open. your Mr. Lugo line is line

right, to Ken move phone. the Janney. may Trbovich You un-mute the up and we'll with to pick All want on handset

line Your is open.

Ken Trbovich

of Certainly you I idea continued on SG&A to control about guess know, biggest the congratulations to to Ernie, with you line. me BELBUCA. look progress But I those and wondering was peak relative those maybe higher year expenses that the forward at talked regard or levels? surprise those taking the remainder seen are I or quarter lower some about year. are talking that those than of was for last will to Scott the last levels than we year for range, Thanks consistent were that higher sort the go the the of question. with for team there. seeing the great seen with another just

Ernie De Paolantonio

you'll on the in then marketing, And level a Ken, Okay, marketing the for sales see bump quarter those year. and the next through probably end programs. little it'll the sustain at that of

On to you're we line, first probably the in throughout going the see an the of rest what quarter did G&A year. the of average

Ken Trbovich

You Could to in on balance. give position And the the tranche some sense a whether CRB? as it. guys trigger sort of Ernie, are you to gave us cash next got you commentary you with then,

Ernie De Paolantonio

would not but tranche include million. include be next of market for the only $XXX about Well, sales, -- it also cap would

Ken Trbovich

it. Got

it's line, just the the cap-related? bottom on Okay, a not so performance also it's

Ernie De Paolantonio

That's correct.

Ken Trbovich

I in regard terms it, that Ohio, that the just know, that benefit see. have say fact just talked Scott, then with about you've in. And kicking I guys Okay. to expect seen seen of but shouldn't you to it's you've

major a the the treatments. let's say, you a give a, side plan. workers' workers major maybe Can the care importance if of versus managed On there's pain the difference of fact addiction the give to drivers, comp the Ohio be plans as between, comp and sometimes that the I sight lose sense states population large side, us relative in a we think specifically, Ohio then can a as much same

Scott Plesha

So, job, for Ken, thank congratulations earlier. there's about really done The first you a your it. no off, strong team's doubt

win So us. Ohio important workers' comp was for an

four state they're at show If state. look commercial number the up payer, three either or under that they you and in

something meaningful. So start work other regarding it looking well. other at have to build that Mike, It's that other we can any around. I comments you as know well? might also don't continue to well. if, us we'll states if as give ability We And it as is volume think states

Mike Bullock

indicator would in it message about of they're are receive getting the we're product, a thing a the trend more resonating as front to guess as add and favorably, product is only and more just I our payers the seeing big is how I Yes, the that's payers. these solution beginning that

So aborted of reasons the company a but sales for workers Ohio for in not comp that's only beyond. in lot

Scott Plesha

sure, And specifically two. BUNAVAIL, the about you separated

we is So in really right and data trying But comp data program do state we'll And out know being space dependence. or again, the build to product unable are hither around we BUNAVAIL, to the very workers proactive through the see exclusive. opioid that preferred there now our source. within a be

Ken Trbovich

it. then… And Got

Scott Plesha

I can't numbers at the time. this guess

Ken Trbovich

some regard whether last And sense one you that's might Do No, just where switch and July. been over should've question cycle then fine. with you're just guys at a getting normal in or not in to of for some for something contracts that have that the meetings it January? next for that to opposed that change is July those normal experience Humana in with of cycle contracts payers as that helps you relates or you're seeing to benefit as the

Scott Plesha

market. wins payers to we you where so Yes, They're can they each with tough that predict can. Ken, now. And other. are the certainly important in competitive I certainly tell those it's right other to leverage we

do them we they attention, encourage pay to pay So and attention.

guidance received, online, as well in So we're who it's give And hopeful. may around you guess front being that at I point. you tell customer we of. can't but share this I that every I may is much as would or not with any do it's about something come certainly we're

Ken Trbovich

the for time. the good. to the Thanks Well, sound questions. ask I opportunity Sure, appreciate

Scott Plesha

Ken. you, Thank

Operator

to Lugo go Tim We'll from Blair. Instructions] William [Operator next

line Your open. is

Tim Lugo

Hi, this is Tim.

you couldn't time me if around. hear Sorry last

to number sales we in reps, prescription the you contracts. you start So have saw sales have When should increase we of a in the over new some quarters, an prior acceleration numbers great returns? see

Ernest De Paolantonio

have. I think already we

probably very numbers we've at over If weekly than numbers product weekly look strong at a since January. if as we larger look March, the jumps and XX% experience And April see in well, the you you'll you we've have growth had back.

we're So pharmacy demand ahead we've at increase that. a wholesaler also of and a and in -- seen seeing level definitely

Tim Lugo

over the out with -- continue year to acceleration And year? even gross see throughout how shakes guess net we the with should just I the to

Ernest De Paolantonio

me, please, that could you Tim? repeat Pardon

Tim Lugo

gross quick Sure. the to through have [indiscernible] a I net acceleration with because question quarter?

Ernest De Paolantonio

Yes, I prescription growth be strong. our think will

other over The also seeing add, the ever inflection up we're earlier, seen I'll largest one month mentioned month, I in previous an prescribers. we've also thing in was had the months. significantly March

Tim Lugo

know are trying are [Indiscernible] very sense can you you're pockets where to looking you're of more or a where I to are looking for for looking there regional you're additional you you get certainly national give -- contracts, contracts? strong. contracts contracts. new But me the that

Ernest De Paolantonio

would certainly question. good have contracts at within have positioning we answer where And payers that to And is do level the the with so goal the major be Yes, date. improve where contract. don't to contracts we national

Scott we've had So on or moved either from some seen United that criteria with, mentioned, CVS and contracts from we've access clinical up and use. of they that with where

looking the have that that certainly with the and things are those So payers we're to national we payers. payers, do an to regional on But and contracting. do also with focus all ability interest

So historically an to this they've those that smart and do things maybe interest done in this willing have we're on to space. space, focus and do we be than where in trying it, are differently

Tim Lugo

you so it Is of the call? yes, quarterly thoughts are quarterly -- your to know, going in -- looking something on next more very maybe where to take going is at maybe the perspective are call? the business you you that to are far, Is know you I I before looking when know going business be the next forward. and strategic short to Herm, And tenure look your Okay. and a but

Herm Cukier

kind as Hi, for we developing. Tim, very I my is of Yes, question. you thank think on are the that working much schedule

seeing about and folks So, the we'll that probably the and over reaching in weeks I'll able next locking next schedules, few few and to circle to those out and your start over and coordinating back start back discussions. probably that thinking be months, have

Tim Lugo

Understood. the progress. Congratulations on

Herm Cukier

Thank you to here. very much, excited be

Operator

final And for I time today. have for we the turn to time, like Plesha this it our Scott session remarks. would to that's back question-and-answer all At

Scott Plesha

forward to Also for thank want thank great In help and also their you. their earnings providing driving Thank you. next updating and we Thank our work employees closing, for again -- to patients to shareholders dedication results, our want our and or like on a and continued you our call. day, I look our the to hard Have they're support. would providers.

Operator

concludes you our today. for Thank that participation. your And for call

You disconnect. may now

Biodelivery Sciences International (BDSI) 10 May 182018 Q1 Earnings call transcript