AGRX - Earnings call transcript Q1 2021

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Operator

Good afternoon, and welcome to the Agile Therapeutics' First Quarter 2021 Financial Results Conference Call. Please note today's event is being recorded. I would now like to turn the conference over to Matt Riley, Head of Investors Relations.

Matthew Riley

Hello, everyone, and welcome to today's conference call to discuss our first quarter 2021 financial results and corporate update.

Before we start, let me remind you that today's call will include forward-looking statements based on current expectations, including statements concerning our financial outlook for the future, management's expectations for our future financial and operational performance, our business strategy, our assessment of the combined hormonal contraceptive market, and the potential market share for Twirla among other statements regarding our plans, prospects and expectations. from judgment may today that involve actual to our or not may represent in results and discussed guarantees risks differ statements as statements. are of promises cause the Such forward-looking results the and uncertainties filings our Please of the which are Relations for company. may affect information concerning the available refer with SEC, the through to Investor that our website section risk factors statements except undertake as by We update no to law. forward-looking obligation required purposes call is sufficient not The and information promotional not prescribing for on decisions. today's for intended

Joining Chairman me and Chief today's Agile on call are Officer. and Dennis Altomari, Al Financial Therapeutics' Officer, Chief Executive Reilly,

remarks, prepared our call we'll Following to questions. open the

the Let turn call me to Al. now over

Alfred Altomari

kick what takeaways from and the commercial everyone Good December want shipments of Thank you significant first Matt. in we four XXXX. very to everybody I'd most wholesalers Number update. initial to welcome to much, began like late to the remind believe off we call, the call. are highlight quarter I one, afternoon, To today's our XXXX Twirla conference our

December their samples As first also down HCPs quarter two, inventory, product their our we level. demand more force the the reflect will to script sales healthcare received revenue providers worked closely growth late Number distributing the in at anticipate and in wholesalers commence retail samples or of XXXX.

and to to recent three, higher, Number excited second the awareness are future why progress Number of discuss walking on the in we in believe Twirla expenses want the XXXX four, will for so increased data, TRx prescriptions. TRx and that samples quarter are foundation our brand date, growing also HCP expect revenue will are samples of laying sampling. marketing or efforts is about growth, and invest our time our to we the reflected operating to and we to not growth updates HCPs lead I prescriptions While end, be through brand Twirla. resulting spending into and I growth Twirla's we continue spend the in To today writing increase product on believe the XXXX. total in number often reflecting the marketing to encouraged. the writers we

provide we our hear financial performance. updates. and progress Finally, supplement the update quarter slides conversation, refer you'll an to will through this we to using on today's as these We're and me guide

You can presentation find our website. this on

Now I talk performance. will about Twirla's

update first of of First date, an our our quarter Twirla performance I'd full like launch. to to give and commercial

in driving believe first As are our patient important we Twirla. awareness efforts we the I quarter sampling and began sampling to mentioned, HCP and of

deck, early first to X growth brand quite these weeks the The of that trend We able see second included the one outlines scripts, of seen refills we're the product. part these quarter steady and this On of sign of our first clearly week and be of Slide the and see then X you'll a sampling, intensive rolling metrics. performance of average trends continued on trend to all believe and increasing we've a the of quarter. healthy seen key followed have into is thrilled several awareness a the weeks which quarter, the

of first release, shown be would than providing we As on rather granular earnings progress as thought in quarter so data through this basis useful you quarterly as purposes the providing launch. for on we our did on initial but the XXXX, Slide we in to X, we press our a insights expect such of update detail

data. on Our our prescriptions rates. growth by monthly increased refill an driven and graph showcases Slide Rx in number was total prescribers growing of X The

number see refill increasing and as trend from of can TRxs in you onwards As increase well. the January

the you would with the this we uptake on progress second seek as prescriber told We're we're base seeing. continue educating of focus progress what I today to of base. will our When growth this into we last on as and grow move we to we and the prescriber expanding spoke, continue expect on We pleased quarter our am to excited you that update we our beyond. brands.

first number the dramatically. prescribers of has During increased quarter the

As prescribers. more of the March had number has the XXX XXst, over to increase we writers to second than into and continued quarter X,XXX

growth steadily of the the for prescribers can The prescriber You Slide in to increasing number Twirla momentum level. has at the writing the grow X. see TRxs growth and on TRx continued

XX% pharmacies refill of Importantly, higher our number now prescribing we to and units each approximately of dispensed TRxs refills. also rate are has are seeing the grown, and

I and sales we Our prescribers. in in-person to representatives to with our last continuing can the engage and With our person ability want a expand comment one. a anticipate productive arrangement rates meet virtual also vaccination to been specialists continue which expect sales virtual both continued new on Specialty network. we visits we Sterling we team eight our a Today growing inroads efforts. practices, to sales this of XX Pharmacy. very it's increase, to enable relationship, On having while has distribution number make with sales to us stage, of efforts discussed complement with in with report our call, with virtual early to

of the collaboration sales uptake efforts encouraged Twirla. will by and to this date support believe our continued We are

While for continuing we active prescribers has only grow. of to a month, see X number the and been agreement patients

move to telemedicine this facilitating Twirla. where We evaluate we role of in also the as access recognize we channel increasing forward with continue

covered the remain across In expecting in plans. Medicaid May Twirla Twirla no Twirla. on states Medicaid including managed We obtaining for coverage and and access Twirla on for represents Currently, care. a on XXXX. and we coverage reimbursement care of government of efforts focus with insurance a managed authorization of increasing made focused variety particularly, access expanding XX is coverage prior in to in Texas lot progress in another Now market nearly worth noting The we're roughly through the or users. patches CHC believe total in this we of contraceptive for growth Medicaid committed hormonal product. X for using this volume as XXXX contraceptive It's combined in from our oral Twirla. X/X of of and of Medicaid. number a other the Twirla million. access market for comes that We're interested the remain business large source encouraged was maximizing all We to prescriptions women by view ongoing trend for

some awareness Now turn update. doing increase to to Twirla. like I'd been our to I want market work to on we've the of time

deck, Slide alike If through I'm efforts. and marketing following the focused along and branded you've reaching been X. on on unbranded We consumers ACPs now with our

of quarter. this through some efforts me walk Let our

control leveraging so Twirla website. we're efforts told consideration to the we driving first awareness into drive robust This This the our Twirla. lead I'm that and amongst birth unbranded category, also we I'm positive believe indication is you on For us is on our We're quarter birth to need focused the effort efforts. brand driving strong for We the Twirla campaign believe continue. campaign, of contraceptive So Done were visits trial a branded drive of awareness us on of this and to a our done TikTok. launch Last interest for education. control very now and We trial consumers. unbranded and increased unbranded was important marketing underlying

has communications monthly and approximately millennials which to advertising of skews which and base engagement day coincide of market U.S. base to we leverage digital simultaneously ages with takeaway dating segment. patch women moments Gen of awareness. mind, reach which in and Spotify, HCP multi-channel with brand. and at weekly out dose campaign reaching that million on of user to more that With the begin that a are estrogen, The Moreover, meets XX. branded as between Z, their focused key first and the by we're which women consumer low XX and user million strategically we and on Twirla Twirla the resources with positions creative delivers apps the XX we both a as our and women is women expect more dating include extending strategy XX contraceptive increase on in a Our Tinder is Over support this rolling here advertising key our apps, only OkCupid. marketing

into you forward We expect consumer incremental continue quarter and investment stronger quarters we a providing and the the updates. over XXXX, look to additional branded to throughout

our to our over a to like overview this financial Dennis business. of turn through the is this Before of believe and Reilly, robust now is over to We the Dennis, and I'd building women's the reiterate growth of of Financial update. I'll our Officer results achieving an our commitment provide he'll Twirla. healthcare Dennis? business microphone handing step call Chief the first

Dennis Reilly

today. Al, everyone you, Thank joining and us

provide on year. detail year more bit a growth our the the like are to commented, parameters year-to-date, been we our particularly think phasing with I'd Al perspective, financial and As a Twirla's our excited from you growth how business, this potential quarter some for to we first more and what has clarity experienced around the for of of general results in performance the full on how about trending about

I'm Slide along you're the following If to X. referring in deck.

fourth will And This As in broadly result, Al approximately X,XXX of our the likely XXXX. reflected of initial be a realized sales that $XXX,XXX quarter in rate of the and in December net needed shipments XXXX. second as quarter work wholesaler $XXX,XXX quarter wholesalers XXXX nearly Twirla. our sales product and The Wholesalers we expect represented levels into mentioned we product with with we of XXXX restocking came of in first these closed stocking of depletion in for expectation. revenue the units inventory in out revenue our inventory results. Twirla down to net resulted line

estimated our our second would wholesaler gain overall, hand by we believe for the sales the market, products quarter which are of beginning XX that and market. worked throughout in revenue anticipate XXXX increase retail our prescription encouraged patient the the growth. said, on of increases, Therefore with Twirla as are our and increasing wholesalers through, begin in occur year and sales expands, are that wholesalers the more based our growth we half refills now second sales. and CHC have base to inventory demand reflect full awareness product momentum on sell-through inventory the for less the We track days the current XXXX than script in levels. progress We later prescriber as the demand was in This on aligns to samples the year, seeing of of traction expectations Al restocking into closely based will we should Twirla, and assumptions initial closely

cost. quarterly our Regarding

supporting product non-cash for expenses was efforts Our QX personnel as $X.X of costs distribution revenue this million, expense. $XXX,XXX depreciation XXXX cost included our manufacturing and and of well as

inventory volume become three the that during was the no months is We expect validation as product in these quarter fixed all the less we of relatively as percentage March a product expensed direct XXXX. ended costs significant of fourth as revenue R&D previously of as sold There increases. will sales that cost was XXst

this We expect in all validation be utilized inventory XXXX. to

period million reflecting expenses increased operating $XX.X $X XXXX million $X same We samples versus million second in to were our approximately million costs product in $X.X a to quarter spending operating anticipate on or ago. $XX and expenses year to Our from branded million higher QX commercial $XX million be the market.

R&D period or higher and expenses increase building and Twirla quarter period activities compared contract of totaled approximately manufacturing same G&A development ago brand $X.XX the by $X.XX a compensation of ago. a advocacy, manufacturing well increase marketing in XXXX. This of the to professional manufacturer, $X.X compared and as in launch the an the quarter XXXX our Selling were offset reflecting was of to loss was first sales to a with higher million associated year loss to decrease to compared of million $X.X part in $X.X in personnel-related costs $X.X $XX.X stock as same million Our clinical compared commercial per net with company's for selling million contract or costs period in including pre-validation quarter marketing attributable $X.X for share absence a of expenses. We closed The comparable the support in a first fees and expenses Twirla for expense. net to due expenses share in the higher $X.X period-over-period the in a million force. were product million activities XXXX million year in development commercial ago. the and out expenses the year primarily and the Corium, by million costs and $X.X same personnel

cash, as had we to of of XXXX, XX, March securities million of marketable As and equivalents million cash compared of end and $XX.X XXXX. cash cash year $XX.X equivalents

of facility are tranche loan million, through As available a of revenue a will contingent through on capital have a achieving $XX and of Advisors, million reminder, June another tranche we including our million 'XX, available of both pre-determined with potentially be XXXX, which $XX $XX target. Perceptive available in

our and We will to we monitor and to marketing modify need closely continue expense. if can we spending our sales

Additionally, aggregate of additional our of through access have through to arrangement, an common $XX up gross sale potential existing under shares we proceeds of to we the can which capital the at-the-market stock. sell million

focused the are shareholder your open to continues We believe encouraged we and the ahead. now happy We for encourage excited may value. to we're established remain investments that, for growth making maximize what on continued you team and to remain the right lies Twirla. focused With maintaining questions. Our by nimble up on take our and disciplined approach, be for momentum Q&A. and strategic have line Operator,

Operator

Instructions]. [Operator

from from Our Dan first question RBC Capital Markets. is Busby

Unidentified Analyst

it with Steve you be hearing or ask if is is physicians of maybe recently physicians any with the I've but prior I regard and that's early was particular, types be first potentially pretty backs who've released wondering us some along hear in provide then maybe can interesting experience physicians patients also type in SECURE you're other launch, progressing XX But and seeing patches a upfront, with question age you on feedback second Dan. is color should post dynamics think forward? type BMI and any trial any first Twirla and might of to, the the they're So the launch with related older particular had both more may the on guys how obviously are different with or patients trends XX guys, this how to you're maybe and from it's patients Great. how them going here ad for question, between hoc data but viewing got from wondering push about today? contraceptive more and to product, you little prescribed that on of hearing? we in here a I and I'll help the two, BMI any that data thinking then the to one, Hey, what from

Alfred Altomari

is Steve, Hey, Al. this

order so punch packed so questions, the hearing To tell big You launch let physicians two a are in me patients. what one, them asked. we you have from in and

it's So interesting.

as so not patients, also on group things we're knows great phone physicians important we from the we're I problems. hearing that think hearing -- and the and any equally

patches, of give you an We calls just I'll had program we'd that of a multiple a we just replace after as thousands made call, samples. had had replacement patch problem example. three with prescriptions up yesterday So can it. set our believe of -- if anybody they phone multiple, one I and

don't many we than hear affairs from complaints medical any doctors. or So other questions

is reason is is refill patients seeing high our surrogate of getting and in patients to day out think on our brands seeing I hear point rave we the And both is which products We're we're liking reviews quite product. product me the the physicians, staying So and and which day from of frankly that refills, what I wonderful. really to can rates.

good Steve, more also. we the have more healthy brand then to and I describes trying we it we the So describes see a that that that growth, say that was refills and and got feel very

hear nothing. they a patient we it, so and So every when that goes drug on like indicators our says

current lot sort a either of about us Ortho question the Ortho about Your one. or get We generics of questions makes of patch older physicians other different good Evra. Evra the what do very physicians is older patch than a from

interesting available. up. even younger that some our always bring that physicians the of are So if not comes patches proactively It's don't reps it up,

and research. was physicians re-teaching our that market really out we're in born So all

is satisfaction, expected phenomenon, We patient market feedback, physician feedback, those both so everything Steve. green,

at proud trends, paper So that published you ACOG. We're mentioned we of that ACOG. very -- was

got We So see we think say I just field effective at that BMI of you actual for was present patients do to you get the to And the off-label were upper between of They being I use we look then the of lot thank with trial were SECURE were the the authors in say they for we relabeled probably in limitation bound the the to could questions approved restriction that you. honestly what credit and through with products other Twirla really product that we XX. a company when cohort use we give XX. granularity. trial with on give XX look, phone the prescribe can an weight use. we XX in know see of a Thank as and physicians patients. that XX there group able have that I'd also after paper, the the And more more can our say other you that. and its that XX the me appropriate over don't is the And knows anything satisfied patches to quite lot of most think telling

think company -- run and are see I issue. stated So we more the before, products we and -- as to into this really going more

that the trending can best XX% a can see. important on from of the from that we have perspective, with So the patients of prescriptions most group think coming new therapy piece information is never are I our been share I

the off fantastic. have About birth-control pills. patients that's XX% of So come

the either methods. So we exactly that's or new to come rest another in coming is other off about from pill XX% about XX% of and are what the line patients thought from therapy the and to patch

it that way market's to frustrated patients, we're and we've talking and that likes our pills the folks news getting market responded getting our seen are pretty to with tired the the is us much product. So We're everything.

question. answer, that's gave you Steve, a a long complicated but So

Operator

Livnat HC Wainwright. from Your question from next Oren is

Oren Livnat

me? hear you Can

Alfred Altomari

Yes. I Oren. can,

Oren Livnat

increases, or don't to samples, are other some might coverage volume, really this they given a so the It's push it these demand relatively scripts could the real Okay. of clearly, should it coverage trends representation what I've major, prior I perhaps several or through a you understand IQVIA, Are to underlying last already obviously that maybe geometry these or of us help parabolic-looking stage of Great sort but see prescription we the Medicaid looks and limited it drag coming like very you? through no you in -- modest encouraged to but coverage Great. getting have through? curve, represent be point early I'm mean been weeks to your table at commercial cover these docs this the pushing represent such care payers managed as auths are early

Alfred Altomari

Yes. Terrific question, Oren.

So last couple of we very are also encouraged weeks. the

I So but I'm either when not all things geometry a that's point I north, know. like major

Number I I the happening couple would is what is no, in grow, weeks that we one. Number data So, believe continue I say one, two, prescriber number what think base. think prescriptions. new getting of -- our in that we're the last we to

in New lifeblood in chronic general refills. are but us of the prescriptions meds, but our meds also any is any

refills to to but floor, our very you're -- refills to nice some it's prior you're of data. it's become know say don't the meaningful acquired the the work. getting that even before starting starts to weekly from I are Our weeks want week going to

educate for new momentum hopefully just we the things then docs an as going down moving. team it's they're samples. Steve try me, that those just accumulation prescriptions what getting. as to a look, the And back Oren, we think If the weeks the were they medication born the tell we we look, more that I all the X get, happy, we X come. our business So three more that it's quarter, more first things we're Hopefully, it's to and generating starts laying everybody they harbinger knew, first the of asked write, is of as in on along keep to more the

were As really there new refills, see Slide was in action there just we could the the sampling because in X, data much slow out you and wasn't phenomenon. prescriptions put on just

-- my tell Medicaid. just So can I to question, we just taste data last in most wins Medicaid that that. little head, very We of business. to in say need I past of the think happened a can perfectly we got without I get work April, Medicaid you the we're so your starting

we us. commercial of payers part XX%, it's business businesses the my right overwhelmingly is results. for were or patch over all say the We out. good was sitting in least at touch in important roughly The in business said I'll So skis Medicaid couldn't think I It it. you mean pretty X/X an I Medicaid. quarter the it's -- XX% locked of first category. just

So those open These are and nice coming big see to up states Texas it's for XX right us. behind. whereas markets

for you to also Look, plans the access we into will. to step easy future uptake, but we and they're Affordable will under off, but So and it's to are seeing your good to last and if they're And question. brand, seeing it. play the obviously, up think allowed going Act physicians you're we that physicians our Care we're prior into ask have the speaking

Oren, So you seeing us helps out, through of prior those Sterling fight that's if organization offs, where and that will. the some we're

are this for hey, we say, going seeing So I'm it. working. brand's physicians

the we'd both but commercial along. So in second the get like the more up of the side like coverage the and Medicaid nice in line Oren, and to business pick Medicaid side pointing clicking more start still now, to North, and quarter commercial business it's accounts to

like it's think much So haven't wish say, I little last it's one the thing to I spent then could I we the things. money quarter I I would series unbranded. in point think first And of event.

you can is script. We We the back. ready. said wait think I when my let's in market tell throttled that

benefit the insights I the that mentioning second all So the you've and in imminent not was quarter, extra of yet. spending the consumer seen that's

our just if I market will. you So don't continue the think ready. will was hopefully that momentum,

so our to a HCPs held we're the we until condition. was and ready branded of spending now. So on wanted I bigger market some back stuff of a beachhead doctors, better see on bigger

Oren Livnat

inventory that though run because script -- of this the samples, as translate work to in to even of but think to revenue plug through obviously normalized you doesn't yet I per keep could net number. script and need track we we ask value climb, prescriptions follow-up try of a rate as to we or if want you to when your value continue per And some quick sort

are know from you've contracting I of you what's in it's but ballpark you run the So a and where coming that in put give scripts early kind normalized the place given guesstimate any see Medicaid, rate? can us

Alfred Altomari

help I bit. you Yes. can little a

We I you we think, Dennis I money I'll shot know the take got the on sort we expect could on kind clarify. symbolic, it's towards it's put channel of one-for-one the the of so that What we first right indicative table amount revenue the some of normalized. end a down. really quarter but -- end channel this of then to quarter in the working quarter, by first we're basis. beginning of getting of more was the very is would

take So the units, sell or as they units, give we now. stock

hopeful. very we're So

you quarter second if up normalization, will. think cleans the I the Oren, So

I script, one and we'd think about X, cycles. a that I cycles. time get think worth the Every it's the again, thing X.X Slide point we we get to like out on go I'll

X So we get than more cycle.

So XXX or XXX, of WAC, value a it's it's script, of XXX, XX think not if you about whatever. the

to of script So the important becoming us. value a started

to grow. we'd that So cycle like to see number continue dispense to

saying. was right? think think I in quarter I did -- get and don't channel think, onward, that So I know quarter, Dennis, third I what Oren I before Dennis I think second normalizing that's the

Dennis Reilly

say it pretty the right. to We're demand now I'd it's mean close equaling Yes, really, should by end normalizing of shipping be They out. levels. I all got you May.

Operator

question Gershell is Oppenheimer. next from Your Leland from

Leland Gershell

update. Two me. Al from progress. on and Dennis, thanks much the the very Congrats questions for

been we like pushback as lives Have where sounds is period. you've had, launch not I you've of you to good you around of had side, covered or ahead 'XX, progress at what reimbursement there the the end on simply I than indications been the the though good, to of near kind and of given you areas states it prior, a of us follow then if I far have had Thanks. the reimbursement and X soft through could some least be years just initial process a be even any of little which better nature kind First, up. been X majority of of over where the on expected has be actually that your progress at it the bit so the kind going that would think by believe

Alfred Altomari

really good question. Leland, Yes,

at think I this. think up point got add nice we chipping lives. we're this in Medicaid we've The away of at bucket certainly wins a

position though the I we're kind got for for the available the at great to we're a huge So win. the being two even Twirla to it's in pick a PBMs ones, them. We've until think other hard it's ruled is at got game opportunity and make scrappy PBM high one every the not of But individual they're okay. I we Look, the option looking on think changer. that's very But the roost, still under we've get national a women. level those, the with Leland, coverage level, -- with plans up PBM,

Care Act it's the letter product, a physician excluded website, even of we if formulary the at not we're like under website. what of level availability. the our and if lot national called a just a from were though on PBM, then or coverage And formulary, we're of the was is to contract necessity medical even writes our Affordable what everybody seeing on Oren or on So sort asking he on me twirla.com all remind wants and

is relatively Care the want wishes. get their Act says, is say to designed, physician form get by a could You way this is simple the that look patient I Affordable it this supposed to the product. And

these in of I we'll -- the and letters give that's these where their to where mean, kind extra if at home, Oren to both to really to Sterling country where They patient be Leland, patients help. if is them wants then medical them. for service, go they of scripts also and great necessity, handholding they patient shipped we're providers this and and the ship anywhere get So some hand-to-hand drugs of get level -- them will through and the able it need them also getting

a add get they So lot big a value that's of service. very --

brands -- So I can all, if coverage. last we to quarter local the at get And that We're you national was mentioned wins, these to think so will. away point to going we you another chipping can the get the example. GPO keep agreement for that it on we the

expect it So think I think -- expect and too. we -- signals continue what ones, to can we and we're I But taking can the from big we're grow. to the still you swinging at we're us we're would is

Leland Gershell

in how seeing campaigns how that the you're strategy year you to much put Thanks. I And in online sure days, and the kind lot affect marketing the through need these how of days the it's and go wondering which spend consumer kind different rest just if terms we you comment of avenues out, for get relatively may decisions of where terms much on but as a still reach you other all as could at and beyond? different you're effectiveness in your of think by advertising, the of of all your early I'm learning you with the out you getting you're can know and

Alfred Altomari

fans I of question. I Good the consumers. everybody think call on big we're knows that Yes. mean, activating

decided think samples made one, I vouchers. instead decisions were we the we right that are, I I think -- ones. use hindsight of Number in to two strategic think

they the you everything. sample. flow patients get of get if pharmacy, will, slows to write paid the for once doctor the It there we get said let's down use we the at -- just So a but

do. pharmacy we to it the So that. so I like at thought Even sometimes like were right using thing we times vouchers, though was considering

was the I'm -- spend you on I'm But even TV your feels ad it then, last to really product. for did spend I right TV that. And So like, look, a not glad good, big us TV I'm and I -- I think came that ads. watching or contraceptive was night for across while radio think we get target.

most big own these aren't don't believers women we So just TVs. even of that young

the of advertising like money. TikTok those where even all So the the platforms better is a we Spotify, we streaming spend target and think could branded ones

patients have exciting early mean, want early confidence to And ears up into a door. it's we're higher of your to on work in. in and our so starting say, we're starting see see for line some our that hey, ad, if for doctors I asking Twirla The patients consumer coming and to there come starting we getting we're ad ultimately we're a starting -- and the are degree that's with paying website hear target the to by better the they to to saw really that's signs name, work us, so people Twirla what's some with is great seeing our We saw off. and do this.

have our relatively and we more chance think made then are days, come spend or go a in or smartly I yet arrivals digital but even the saying, let's So money website decisions we we to early activating better higher a either where much think to of doctor. our

the pretty but with heavy. -- a we're quarter we're spending in also more, the second little are don't quarter stronger on tell to healthcare a perspective. anymore, and our from drill signaling it's with back we're next physicians, is why spending. called the second And getting I be a held going spending the now we've you little quarter that's what you Same know in but the really hope first DT full I providers. some social bore So if quarter with I'll the able

our get right give reps We that more We are, out only first aggressive even beachhead to just now, quarter. campaigns in our some to to deploying the them. of there wanted

see we why do, we're us So then turning now. and we want on get all that's it there and brand lagged the to

So we like see. we what

Operator

Tim William is Lugo from Your Blair. from question next

Timothy Lugo

the stocking XXX,XXX QX confirm was of can throughout couple the ended so, you in believe how around that's mostly stocking, the that XXX said if QX HCPs of I your should number of quarters? but just well, expect now quarter I much trend do you at April, you looking you in and next number prepared we then And about expect you're think XXX the X,XXX, to kind comments, as in where

Alfred Altomari

Tim, mean... I Yes, the right? number, is bigger,

Timothy Lugo

Understood.

Alfred Altomari

No, or guy. picking math doctors XXX and week, up about me you're take. a give my Keep We're honest. new

weeks scripts. hopefully awesome. They're Some doctors. they've about That's now but That's new awesome. let's weeks XXX say they're samples, XX, writing XXX, writers, and putting been some

me. that before grow it with done how start mentioned I and mean, scripts. think business, and and I getting for the that's writing before So we will group doctors this the will I important metric that's an get samples

that think everything I say So in the Yes, is an I it, stocking. mean, important one. fourth -- I'll quarter was Dennis,

we scripts. XX I I stocking. had like it's think mean

a you reported down you from us. filling it's quarter, that in first it. in actually way a the if the the the shelves the of they're inventory say will, still We could that lot product and sales in we was re-buying end hand. pharmacy to making down and first the consumers of wholesaler's So us and but worked worked we're they've quarter, small good the see is that posted saying it its And shelves, net the okay, quarter

from I and quite don't not are say, script be should see one-for-one. some it then and should just we we you take. that Every to we or look Dennis or -- report. that's should be, sounds bulk that able that we and there's so down way of volume work and give give like will and channel fully script work that at should we Tim, less the think it and it take, May, be as don't okay done that that But sale, think optimistic normalized So, mentioned, we're get then in the yet, point a on, a --

particularly second that, our into that than know report, GPO be As later be agreement should quarter directionally doesn't and in what you the third. you other but seeing the should

Timothy Lugo

at Okay. cash the burn. And looking

going a in well, ramping over that's obviously, direct-to-social quarter how $XX efficient assume don't and to is ramp the ads. I I kind the Bowl million think different direct-to-social I quite this but Super with up, as understand than of is

Alfred Altomari

Yes.

you guiding the So walk, the just Tim, light, for through second was quarter to first what you're because Tim. I quarter want

we then from and those a in because Corium, samples, a few of -- much the mean too spending. didn't consumer -- of way to do had buy had I we So didn't as I we mentioned,

Tim through don't Dennis, we're you reason So second quarter -- what why the up? being the signaling why walk

Dennis Reilly

we more said, said. in there. little a QX, samples, I was $XX to as the Tim OpEx million right bit the burned going marketing and do QX net also million, over mean, little some Al to a we're sampling We're going more we're in about around $XX branded as some to buy going Yes. up kick

anticipate to we be it So $XX $XX could million. million

Now should roads whole the to right. cranking, forward kind cash there flowing to continue all we start see If of we in. fast revenue lead is see how revenue the to It's challenge the revenue, going offset is our growth does there.

Alfred Altomari

our our So for Tim, that's right. third need saying, should revenue our line, work I the margin goal. we to think mean Dennis our quarter, in as line was us quarter third

that's first but just the insignificant. revenue quarter we for we're didn't expecting, So so what up onward, then margin it's draw to us. And going second work line's the any quarter

need don't but don't. samples, on sampling lumpy, the rise, we the term we So to seeing quarters I buy say, should know we more a called complicated so we're where costs. I some use that's some

So this year...

Dennis Reilly

Yes, we will pay that. for

Timothy Lugo

term, I technical Lumpy it. Understood. is so a get

Operator

Rahman question Group. next from Naz from Your Maxim is

Nazibur Rahman

you what's or the the timeline next point have the which talk lot this the decided asset pipeline asset guys potentially pipeline. and to advancing into want on the At sorry guys you I'm what's -- asset to I moving about next plan a for your clinic.

Alfred Altomari

while. on we saying hey, terribly bad. hold -- we're Yes. it I website a That really everything's isn't our On mean for

pipeline, We are our on work Naz. doing

we're are spending not and but some money. PK some We and formulation work dollars. big spending clinical doing we're some work activated We've

just So concerned pipeline, our our clinical but as have as selected far candidate final we're we haven't I'm we yet. activated --

some the with We'd feedback money, of along. I We've from like both. next consumers and done should bit to is quarters market physicians. intention develop some also our spend them research, couple say little So a of to get

the So interest, for one from great physicians a them. Chief pipeline has be all high of our Kroner, plan and seems Officer news and good development Dr. has done our consumers both of is to work each Medical and

read going II a the clinical have So our announced into we Phase but I next I think to because can't like a year, of if the so I do the with think conversation the possibly see clinic. we're Even FDA, we into at going candidate continue. understand this or we'd before end year us to I

bit we haven't You in a and uniting years. They've pulled months are on until our see work us ones I last we really Paul some regulatory team done trigger the feedback. a and get might developing. more X PK sort done I we the spending in they've belt the still the work some his activated. to than X bucks mean done more little few should under honestly, good mean clinic get work but have

Nazibur Rahman

like guys don't file right with Twirla another You have IND a approved.

Alfred Altomari

what -- we for depends one It depends would it on do.

be like on, a will, if regimen So the extended NDA. the one, the would you follow Twirla for

progestin-only the little may to different the depending IND. way on we So progestin-only, we file a another is bit go with have

different. are But the thought really to may It's IND. progestin-only what that line new general, be a on depends in extension really it generally candidate. require but they So

we're they take the still a I of would regulatory like likely I'm same because two, than right. that I think grain I'm it's work are but a the not mean that's I other right So under salt, doing now. IND. more But if to the guy with

Operator

to Presenters, There back phone. are remarks. over the questions no closing for you

Alfred Altomari

Thank you, operator. Great.

close right and our We by like we track Twirla to saying I'd the serious goal. building in we're to growth, U.S. near-term we for So now achieve product. hormonal believe blocks place contraceptive to continued be that think we real near the a today multi-billion wanted have player dollar in on

for as working channels, brands as United to to continue going the commercial can call. many work in side we coverage and in as women United We're for side on available and HCP prescribers as States. the well Twirla sure to expanding States, chain the continue We is through the access and make and all as many on to heard the in you our implement our both reimbursement supply consumer and and the plan,

each call. So joining to and actually down us for everybody maybe updates, some giving looking road, more the I'd Be like to forward thank we'll well, see and you other time. on we're the

you. in. be Thank again thanks dialing and the for for safe meantime So

Operator

you Thank participating. call. for conference today's concludes This

may now disconnect. You

Agile Therapeutics (AGXRW) 5 May 212021 Q1 Earnings call transcript