COLL - Earnings call transcript Q3 2019 | Collegium Pharmaceutical, Inc.

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Q3 2019 Collegium Pharmaceutical Earnings Conference Call. At this time, all participant lines are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded. [Operator Instructions]

to call like Dasalla. to now will hand over the Alex I go Please ahead.

Alex Dasalla

Pharmaceutical’s earnings and Collegium. quarter is to our our third Welcome Collegium Paul Officer; XXXX our today Joe Head Brannelly, Chief Investor Chief Officer. Executive joined Financial Alex of conference Dreyer, Relations am for Officer; I Chief by Ciaffoni, Scott Dasalla, This call. Commercial

that the to we provision begin to Litigation remind the and of today’s be none XXXX. intended is call, to want Act forward-looking Reform today information we of made today Before that presented pursuant Securities statements are any promotional participants of the made Private Harbor Safe

cautioned the significant expense and or litigation to that be products. and are able future incur You the Nucynta statements to we commercialize industry patent may may pertaining such uncertainties, other without infringement ER Xtampza in franchise, not involve successfully including prevail current litigations opioid and litigation investigation, our or and risks risks that and forward-looking limitation, that not may and we

These of are company’s the in Commission. with the and reports risks filed risks detailed periodic the company Securities and other Exchange

Our our discussed current materially differ today. future expectations may results from

of press this will earnings certain call Our non-GAAP include and discussion information. release

earnings relevant collegiumpharma.com. our corporate You press website release, can non-GAAP find at our including reconciliations on

now will Joe turn I the call CEO, over Collegium’s Ciaffoni. to

Joseph Ciaffoni

everyone, the call. you, joining and for Alex. thank afternoon, Thanks, Good

for breakthrough to track Pharmaceutical. report a make year Collegium pleased We’re that on we’re XXXX to

We focused operational finishing on against XXXX. continue priorities and key make to strong meaningful organization is progress our our and in strategic

total XXXX. XX% the million, grew third over increased which XX% XXXX. comparison million, the quarter the include which quarter net $XX.X of ER increase revenue the in prescriptions third XXXX. X% third represents Xtampza quarter represents third $XX.X for of Accomplishments Xtampza of versus a ER revenue third to quarter increase quarter of to a net

a grow expect and ER on As similar fourth quarter. a rate basis to anticipated, grew Xtampza the prescriptions sequential rate at at we in moderated a

exclusive payer Xtampza took As representing ER XX oxycodone a approximately prescription was reminder, XXXX. XXXX growth January that in new wins, X, lives XX ER effect on by driven million

quarter Collegium’s cash leveraging, comparison in beyond. basis, was structure We on third XXXX the to growing, consecutive On from increased not remain second XXXX. down we the for hand. committed cost a operations OpEx and to income quarter quarter generated for the in and non-GAAP of

lead our strengthened Member Development, Vice we team Executive Corporate leadership the midterm Bart to and Executive President, the of Dunn of strategy. Finally, and with the growth of role the Strategy execution Bart will the appointment Committee. of

industry-wide provide As to have it ongoing call. pertains the no material opioid last our to litigation, we from updates

of includes Our report, details litigation matters. all as quarterly our pending always, of

are a opioids. to there brief recap, lawsuits others X,XXX As today, over and prescription as relating distributors manufacturers, against of

Where of XX pursuing are named. are of currently we on Of resulted which aware have these, we based to dismissal the conduct that entry an do market engaged absence in in and we opportunity which the we to time. in have in the we to that of allegations late not named are them we multidistrict in so, and of Four do are litigation cases MDL engagement so or case, none for the track abuse, of expect a the misuse in diversion or are products. bellwether XX some we Collegium’s our the are

prior occurred for liability any assume not do Nucynta to or XXXX. January we of promotion Finally, sales that

over major Collegium’s to is report lives. to significant XX that believe commercial positioned has that formulary becoming we to is XXXX, accomplishment. that prescribed team exclusive ER step predominantly oxycodone. access ER I’m number X secured Xtampza wins oxycodone take a excited This forward towards market additional well the Looking a cover million ER

X, These January wins on XXXX. all take effect

availability pain broad the in Xtampza leveraging pull team leader mission responsible new to coverage its the preparing Pharmaceutical ER’s becoming to commercial through these while and of opportunities, growth. next of management. fuel is existing to committed is stage Collegium successfully Our exclusive

confident no we’re that XXXX. leader addition, the is Xtampza In ER branded well-positioned to than later become market

we’ve that work that to progress we XXXX, in the lot by we of a recognize made have and do. encouraged We’re

XXXX, We’re the to for focused on same the I to finishing start now strong while the preparing XXXX. a strong discussion call of over in financials. a at time will for hand Paul

Paul Brannelly

were highlights quarter Good third the in include, of year net Joe. Thanks, X prior product afternoon, which everyone. Xtampza a first to months the XX% represents period. through increase XXXX revenues the of $XX.X ER million, XXXX, compared Financial

a prior non-GAAP Cash profitable increased basis of had $X.X the although consecutive by quarter. million, $X.X million we million we second compared the for loss And to were a net to $XXX.X quarter. on

revenues XXXX, QX XXXX Gross-to-net growth, partially offset product by was in Xtampza increase increase discount QX XX% compared and days. by $XX.X approximately XX% ER is ER XXXX. a were from driven in QX million which X% from reduction growth XXXX QX prescription of a QX in Xtampza wholesaler to for was inventory X Net XX.X% in XXXX. revenue a

Xtampza We expect of range for the discount our gross-to-net remainder for remain XX% high in the XXXX. to

a the wins low lives, million range. XX in exclusive expect year, be exclusive of new add result we XX% XX as discount the gross-to-net that Next formulary ER to oxycodone

cost XXXX $XX.X decrease of Net XXXX. third second the the volume approximately franchise million $XX from product quarter The well lower revenues, were in the for $XX.X of driven million days. third as the revenue million of revenue excluding to quarter expenses, Nucynta as $XX.X X for was the and in Nucynta reduction prescription of of million inventory in quarter product XXXX. decreased Operating in by wholesaler

existing discipline financial fluctuations We quarter-to-quarter. some we our leveraging although continue maintain from to cost expect by infrastructure,

was Nucynta quarter loss amortization of of million approximately compensation XXXX, $X.X our and the For million million, $X.X net stock-based the related $X.X asset. which expense to third of includes intangible

third today non-GAAP non-GAAP press our earlier of a was quarter Our issued million the of results. reconciliation Please income GAAP XXXX. for adjusted release $X.X for see to

the payments, fluctuates $X.X throughout Due million shelf the is filed from million into registration our we XX, from increase As the perspective. of quarters which balance. which second XXXX a with of cash went position fourth September year, the but expect balance XX, to $XXX generation We million, quarters effect a was cash statement timing cash strongest the and be XXXX, our June a $XXX.X today. recently to SEC,

Our statement good believe that housekeeping it to expired We on October. old in have is shelf registration shelf corporate file. a

We financial remain encouraged our progress. by

high to For expect year, of million Xtampza the million. we at guidance to the full revenue be XXXX $XX of annual our $XXX end

cost our our As guidance structure, million. midpoint $XXX to existing to leverage million $XXX we near continue operating be expect to expenses of the we our of

quarter, guidance $XXX million prescriptions, comments Nucynta of guidance to expect on expect we Nucynta currently below million. take an These revenue not will as $XXX new continued have pressure increase going at more in forward. years. believe be see seen With we closely in our norm the wholesalers account on we on to that Wholesalers prior days to inventory into levels fall range managing the And we are do this fourth in of hand opioids.

we XXXX Lastly, similar press announce a January expect XXXX, issuing release XXXX. early guidance by to in annual to

now will for the Dreyer I update. over hand call Scott a to commercial

Scott Dreyer

and all the Xtampza goal Total grew third XXXX. for progress patients. of in quarter the and X% establishing choice XXX,XXX, over the against prescribers quarter, growth quarter. the third our of In Paul. of XX% second continue ER to oxycodone appropriate representing prescriptions, time ER of achieved as to growth over Xtampza we ER total market make prescriptions XXXX total for the share highs quarter Thanks,

strong branded ER share ER positions. across share of We the to oxycodone and of formulary grew all ER to XX leadership XX% performance has market prescribers. and exclusive share has within The within for ER XX% XX,XXX oxycodone Xtampza market market a market XX branded exclusive Xtampza ER positions. grew ER a formulary achieved saw oxycodone prescriber to positions ER market Xtampza Xtampza share share base for ER XX%. ER

quarter. similar expect ER the fourth We quarter to a at in grow the Xtampza rate third to

and franchise share total prescriptions ER to market prescriptions anticipate far been Thus X% we’ve were Nucynta quarter. of the unable continued stabilization XXX,XXX, achieve at for and total X%. franchise stable the in we in down fourth to pressure XXXX, was branded

market quantitative was in We that research providers. October fielded are with results targeted our encouraged by healthcare from

ranked was Xtampza ranked portfolio and extending utilization number is the increase force to and versus intend Highlights promoting the Xtampza versus companies other Collegium’s leader closing include, sales number prescribers gap Collegium seen of and of and position space. XX% as XX% ranked prescribing Collegium ER in leadership highly their decrease as management ER differentiated favorability. this responsible one our their one pain to in on pain second of Pfizer. product intend OxyContin.

of which Effective wins, Xtampza of than ER landscape and securing our within progress for has business. commercial exclusive Specific the more wins formulary we market have team January to lives, oxycodone secured made transforming XX million X, most XXXX, covering significant new new payer ER the XXXX. book XX are access

plans, and Part D, lives XX which able North the greatest exclusive yet Florida, Within opportunity We’re I New X can Xtampza will regional additional be an is not are Pennsylvania. the with the oxycodone all for The ER million plans. communicate but to the within Commercial. states CVS ER name Caremark largest Carolina, Jersey

access. insured the XXXX from of million wins, exclusive take of ER number approximately for ER in approximately ER XXXX, are up has There of breadth Part be in States. commercial the lives oxycodone and will $XX XXXX. XX% the exclusive Xtampza lives strength from $XXX OxyContin to Xtampza of XX% lives. and million of in terms $XX market in within lives, million XX% approximately commercially D United surpassed these And

the working with and laser-focused to on commercial strong start to team year these finishing of ensure new the payers pull-through a strong is We’re XXXX. preparing fast for The now wins.

back it turn Joe. I’ll that, With to

Joseph Ciaffoni

open up questions. Thanks, Scott. for now I will the call

Operator

[Operator Piper question David of Amsellem comes from Instructions] first Our Jaffray.

open. line is Your

David Amsellem

Thanks.

got a I couple questions. of So

the any exclusive you included details million on are of are national front? the have – big CVS questions. wood do contract much contracts, and on is And besides plans also, question other the Medicare on Caremark? One I to that here is First there the guess, couple how in Part the D chop well, national actual sizable the $XX

are most that the mentioned wins commercial. You of

and then, of on Nucynta, the So the there? I agreement know trajectory to front? Assertio, given about may you and when with back process work of can Assertio, what Medicare where a years can gears have Thanks. left through given you put couple of is your possible to in is talk this thought your you’ve the the D going franchise rights Part you through that kind it and And past, in switching talk you gone

Joseph Ciaffoni

This the going to contracts give and I’ll Scott on ask Sure. to to is regards with then some perspective Thanks, comment I’m David. Joe. Nucynta.

Scott Dreyer

Yeah. David. Thanks,

first, there commercial, plan Part to related another at D to that wins, is, now us I a million your in XX%.So is national XX this wins going added nationally, run is regional plans. our plan for we’ve Where puts related there and room, can’t room then, kind in there that yes, and name is exclusive D run in still forward. second, we’re but Part million there lives is what at lives the question that additional And So on time. Medicare of is

Joseph Ciaffoni

additional Part D, one a each with Obviously, an comment now, we’re where And in lives XX% we to point in Yeah. and of contracts, in at commercial exclusive about regards in position. David. have

to As is runway and theoretically XX%. forward, an focused be very move disciplined. the we going additional But we’re

track we And we on leadership. to we’ll XXXX, determinations more a of where move need how to to as we go feel into make after much that’s continue market

of molecule question. I a Nucynta, all that partnership the fundamentals, being us accelerating And did we franchise in very value we comments, scale been believe giving appreciate of of core our did to accretive, the across Assertio, following in. a terms year it, it’s has make deal, the the different the strong we one, and it profitability with we realized. chain that in I with the when a and have Look time terms would

evaluating And we yet that we now, Obviously, stabilized XXXX, But on right move brand. to something as be into year. throughout the that’s as believe stabilize we’re in. franchise focused a we the haven’t we’ll that trying

David Amsellem

the the think do Thanks, doctors has a not is headlines product product, big the skittish reasons, problem Joe. with being with role to wrong about If headlines? the it I of and perhaps, to you the given and on that stabilize, playing? Nucynta, able in being follow-up in the a writing I mean, it, may being sneak for do how

Joseph Ciaffoni

with think information say with things a have to I regards I would is Yeah. particular focus challenge the that don’t It’s would really to and I don’t great Nucynta. any question. to a ER. two in believe, we

patients is the supply with first of peripheral in diabetic perception post market for The it differentiated and in particular neuropathy. view and viewed the the the outage, terms of, being of favorably although thought asset

market the was maintained, impaired. position has that Although been

The the second more with thing is that’s dynamics in think do marketplace overlap a an to IR they I payer XX.X% as have analgesic to is moderate I pressure there some opioid And atypical genericized, of patients ER. really some through XXXX we’re that need. coming a where BELBUCA, being is there that putting with the that’s there. think is play focused

David Amsellem

the for I’ll the back insight. Thanks Okay. in queue. jump

Joseph Ciaffoni

Thanks, Okay. David.

Operator

Our comes David from next Jefferies. question of Steinberg

line Your open. is

David Steinberg

Thanks. I have three questions.

care the wins. new managed First, regarding

this lives XX come $XX revenues million Xtampza So on on around year, like looks million. incremental in million, your $XX would

So is current be next year? would there just that about anything you wins, the mentioned disproportionate

of Or sales this probably looked work Xx $XXX around are at incremental going math given to times, do another what way, does million the year? its you

over aspirational get share exited the ER second couple with you an of Purdue’s quarter of problems? XX%, oxycodone you particularly of what years, next think about The question last can sort do with I share is, you think

of And previous cash cash mentioned had $XXX almost being said, and housekeeping shelf the you’re then, you million thirdly, positive. expired. the you as million $XXX That largely flow have shelf in

clearly, types you’re raise make you what going what you’re assumption remind buckets, for? acquisitions So to And of The don’t looking because this, acquisition soon. Thanks. need us here anytime can an you’re to doing the money.

Joseph Ciaffoni

couple Yeah. the shelf. care we give we revenue Thank on pertains Paul I’m and and talk the going accomplish aspire with some And perspective the I’ll it to take David. about then, you, on XXXX years. over to let Xtampza can to question what to as think of next managed

Paul Brannelly

Okay. Thanks, David.

as that’s XXXX. XXXX – we about will think we’ll out think lay timeframe for year. that think what think guidance will provide next these that early about as have the I you us compared And we appropriate if impact to be to So wins

Joseph Ciaffoni

shelf? the then, And

Paul Brannelly

Okay, shelf, yeah.

as shelf, So year we good good flexibility [ph] last think is the potential And that at [ED] we out opportunities we’ve to there. the corporate – we or housekeeping. what looked for have is that a do file want over matter have so, of

the we have finance that appropriate on at we act us, So allow think time. to that something if to it’s have on to it to file there was shelf important flexibility wanted an we the

Joseph Ciaffoni

extended next that And, prescribed our in Xtampza is also that one over we oxycodone. become ER to of aspiration opioid, the with and years, and number Xtampza release Yeah. regards doing branded David, couple becomes obviously, belief the number one the

book optimistic we’re in phase predominantly As lives next XX will growth. we move of fuel the added that business million into of the exclusive XXXX, about we the commercial

by And entire in built one have in and or a we In share we’re XX, would way. Historically, I I leadership make that have competence a where significant comment wins. Scott strong our as think in XXXX, a his really of fact XXXX reflected commercial position. market – organization XX and grown the we have

with pull-through our a of I of the think maximize in developed terms to inclusive we’ve really opportunities. we commercial how partner capability team, payers these

Operator

Tim of from comes Blair. question next Our Lugo William

is line Your open.

Lachlan Hanbury-Brown

I wondering And sort brand how of if a have Xtampza disruptions be I Purdue the this just bankruptcy. was since Hey, if taking Lachlan stated of, sense to met for OxyContin you you’ve asset. And from in overall? or differences come compared you of or where when expectations? versus to wondering ER coming what elsewhere have was changed Thanks. the hasn’t you new licensed Nucynta, expected and forecasted what from What’s your market Thanks for many for on of questions. Tim. the might is patients terms any secondly, the

Joseph Ciaffoni

Okay.

Joe. is a market. is is that result market the been this with, I of don’t disruption With as to that dealing So Purdue any has to there it regards think disruption what

available. be with So to position regards the product continues has It payer. a to the

has area that impact marketplace. conversations see one I The payers. don’t which in think a is with result as our do the So in of impacting I it anything

the in part to had, of consideration had addition about the the on now we’ve able clearly payers being the differentiated think, talk of ER their label focusing in to So interested something that’s us Xtampza where that’s discussion positions, with I exclusive set. being that right payers we’ve success

by of In point of brand the from are to transitioning an ER, share brand patients oxycodone new or predominantly sourcing to the for this Xtampza, driven over year Xtampza immediate business Xtampza ER. terms to in new at with release prescriptions

And Nucynta. Scott comment on I’ll let

Scott Dreyer

understand if on the it. So could quite repeat it. question Nucynta, you I couldn’t

Lachlan Hanbury-Brown

Sure. Yeah.

Sorry.

decline? wondering, So from expectations relating sort the acquired that of to perform from a obviously in – Where certain had just had it the are for licensed set you when I was market. wondering, different what’s or And coming differences Nucynta, you would is how of what you I’m are these what expected.

Scott Dreyer

Thank Yeah. Yeah. you.

I’d had So what of think, I reiterate mentioned position the product. about Joe earlier the market

the right length the quarter, fighting to of had a we the focus battle the we stabilization, at patients first leaving now The now for market supply differentiated and Nucynta we specifically changed has it versus that when change essentially. it patients label the now with thing So ER deal. fundamentally number associated on pain the we in we’re diabetic new neuropathy. time led therapy, did That’s and acquired the when indication the one and outage a our back position And of peripheral focused for on in is position.

Lachlan Hanbury-Brown

you. Thank Great. Okay.

Operator

Our comes from Gregg next Gilbert of question SunTrust.

Your is line open.

Gregg Gilbert

Thank have few questions. you. I a

a would this it environment an payers question, the complicated contracted the position, more is rebates have seem nuance with it in for you get that Or from simply to that in due than a perhaps Purdue? First, is exclusive be particular. that? to It no-brainer not and naive in

Joseph Ciaffoni

payers, this place. the don’t in with Joe. Gregg, have Look, we question. contracts for Hey, that Thanks Okay. to the is regards yet

to that continue be outs ins emphasize this to ongoing. they we’ve willing the we’re terms had that and one that where put the the would which instances, ones in think of is to I with relative make would thing to of a complex that regards the situation discussions that you discount year, is type what it of I it’s what get in The forward. some into and decision

The the label thing of ER. onboard I this, that and the for think part the payer the every differentiation of we attributes start is and Xtampza with with most clinical

second of control of with move those with exclusive plans put the in market The out that thing set that work position Xtampza have for the think have our if consideration the they them, to the most part exception we I an is ability to perhaps the to share. don’t taken, ability

the discussions And one is could of in the our then year different them. they mean that dynamic what earlier, potentially like said is bankruptcy all fundamentally to contemplating, means I are this or Purdue

excited the million added we’ve XXXX. very we’re lives, XX about So for

have to if were to continue We be if we we achieve engaged and would – And material ongoing. discussions communicate additional we any them. they’re wins would

Gregg Gilbert

Okay. Thanks.

category terms situation, it noticing somewhat. moderating In you’re XXXX internal your based the into on [ph] And sort [category] market as rate that Can of overall you about Is their appropriate of moderate you can talk the well? theme? looks something versus past? use research the of in further the decline it and if

Joseph Ciaffoni

Yeah.

Gregg, utilization. point, of that So of one would which as is to became identified in that our fifth X-year at was the and vital least relevant this at next We sign, picture, a increased beginning more decline year is that anticipate X,XXXs. that piece opioid area, least the at before pain opioid models we look, there in The support the the moderate period year that’s in a think the within big is seeing reason we’re drivers to about evidence you’re in of obviously early view being market. prescribing that was level was decline, it over getting that to what somewhere double-digit probably the of mid-single-digit our

that choices. specialists the expect the to choose on of in pain continue are other it’s want certainly which think pain drive decline. important they volume we our We sure route, as I the on market within benefits market. being The doing that that we understand relative We final with make products and they that to to serious that decision is are on portfolio, would the go the educated to responsible make not our one, physicians point committed that to that a leader when focused company anything are so management: is to would

Gregg Gilbert

question business criteria last opportunities have past? that on criteria would you out And Thanks. characterize you the and the what’s yourselves so availability of fit found that tweaking how Great. the in at your there? fit development, the And available all my laid pricing clearly out to in you

Joseph Ciaffoni

All right.

So question, great Gregg.

focused windows for in pain So later a looking that you we value, in that have is which to and and that stage of be are active, the it generating list we’re what solutions essentially obviously on in action. we what drive the X degree look we potential revenue as a refreshing focus, we’re there we we’re prepared know always and it non-opioid are the can development to is we’re the That’s will process to looking mid-term, I would say that way believe interested we know XXXX. get in, take we’re

a to on. short-term would portfolio. that the have also important a with that’s and the criteria, If In window, with following the obviously, pretty we focused our not, differentiated group anything we it. us year. high then did year bar that of it be smaller we things there. accretive, But we’re year, that And in meaningfully much it’s either It’s bring into

Gregg Gilbert

Thank you.

Joseph Ciaffoni

Welcome.

Operator

of Our next Serge Company. comes question from & Needham Belanger

open. is line Your

Tian Sun

just on questions. Hey, Serge. a thanks for Tian guys. This have I few is

there evaluations to current are of Part drive plans are some any to what these Nucynta, are up Xtampza, might the of is XXXX? D same that is XXXX your and the as in And are of level to limiting the the changes impact And as that that Xtampza far into might affect XX commercial expected how current of XXXX? renewals the that plans, into the on guess, I that plans So coverage go sales on the first plan? then on have is or coming D plans? Then any market going limitations that what share for there Part formulary you the

Joseph Ciaffoni

Okay.

I’ll the take then for question. a thank you Xtampza. have and shot the So Scott perhaps Nucynta I’ll comment at on

Scott Dreyer

Yeah.

as changes we is available landscape availability the XXXX D covered no all when at look plans, So Part coverage ER, as significant look as plans for when there at broad commercial for Nucynta well well. across we broad and there

we we access have the feel continue we work the to So brand. need to

Joseph Ciaffoni

with then regards to And Xtampza Okay. ER.

big picture, we’re a extended market share exclusive, oxycodone we off, the market. First release XX% where have of

have within books that things the faster business, of to of Medicare grow. commercial move meaningful over D, continue couple a seems the get the we One opportunities learned manner. move in we other of market is years within then that past Part And we to to share share

is expectation and our than the there dynamic XX-month D is approval. place. the Part D when is in that’s the at at What’s different So – Medicare It’s exceptions majority in beginning exceptions medical commercial of year, the take the medical of a approved. if Part

over another get switched opportunity don’t to ER. patient have you to Xtampza So that

as and work sure payers, commercial correctly. that is in is a is operationalized messaging Part the are to from make perspective our we those plan So that perspective. that what D with want from they really point being a on And we payer implementing

Tian Sun

details. the for Thanks Great.

Joseph Ciaffoni

Sure.

Operator

Esther next comes Janney. from of Our Hong question

open. is line Your

Esther Hong

thanks Hi, question. taking my for

year? second anticipate you in a question specific cadence vision? the is aim So observed in impact goal remarks, sales the the for does future my leader XXXX? then provide you to the branded to additional Purdue separately, to XXXX Thanks. Xtampza And do be that XXXX. in similar reach you on Joe, details Can your by that Xtampza as that any by And of mentioned strategy opening market

Joseph Ciaffoni

Yeah.

thank the Esther, So you, I question. appreciate

market is a which being believe the of is of we version than clinical potential of base generic And there, that no off, things we’re the that what earliest differentiation via ultimately later the protects is is we could from OxyContin. the XXXX, one generic. First of aspiration there important at the reason its potentially the focused leader, of be look sales when of the think a label Xtampza is you

fuel So said XX the always the of January in my why the we’ll growth has leader, to X, exclusive phase million that adding aspiration for be than right effective that next market expect that XXXX later later the no terms been that’s comments wins we where no now in I of brand. a of with becoming

with payer certain And a from have we perspective at point, we’ll the mass infrastructure. a enough along believe commercial critical

number healthcare inflection in that think will we market to hit these puts providers, important who leadership. field on I for out to emphasize, point it’s are X the we brand, eyes have us force us on there of that educating the that where pathway the

influx the on XXXX So the target know the know new payers we payer significant have messaging, would focused of as on that focus us forward get we We go is a we there. wins. we potentially we are to

Esther Hong

then… And

Joseph Ciaffoni

Yeah. And into XXXX cadence, shape as the we I give we we’ll move occur. guidance, be terms how curve will we the what think of give in on growth on of perspective believe the the in of will and XXXX pulsing

Esther Hong

Congratulations. Great. Okay. Thanks.

Joseph Ciaffoni

Thank you.

Operator

Cantor question comes next of Our from Brandon Folkes Fitzgerald.

open. Your line is

Brandon Folkes

Hi, my taking thanks for questions.

long the Thank you. you that the beyond beyond in XXXX, that that live of I a say, considered outside can color exclusive have supply XXXX you wins just XXXX? as additional lot go terms in reliably as But then supply in XXXX, So about side, you we need talked you have showing drive does color some the sort went market of of give of in and exclusive leverage there. this can you to terms a XXXX. through scripts and lastly, will can new scale we Anything that give go quarter? exclusive coverage? in us to percentage you contracts some on How think way about move of you will be more this to provide obviously on the how And

Joseph Ciaffoni

Okay.

supply. non-exclusive with let comment a and then, your through to exclusive on on I’m XXXX wins flow beyond question that make And I’ll accounts. to going comment come the first Brandon, So, back Scott scripts regards the percent and of

Scott Dreyer

that about happens. what XXXX, To beyond about through XX% see additional starting first our of So non-exclusive with of totality, think outside I percent the we’ll through XX% exclusives, prescriptions in prescriptions exclusives flow our our of come exclusives. the

know passed we by million XX OxyContin and exclusivity. of breadth we’ve that standpoint adding lives, So a these from strength position and of

non-exclusive of it creates And books. perform if see will in points that even the actually tipping is help us the to that additional better beauty

will additional evaluate focus is we looking we’ll that. non-exclusives. exclusives over at to our that do won, And So from through then, the pulling we may the how what spill forward going

Joseph Ciaffoni

our a Brandon, feel as been we’re positioned supply from to perspective that move manufacturing will capacity, in a dedicated well come XX forward. online. XX then, position one from we over perspective, would of as And we additional working be facility, supply months next and from perspective, Okay. we’ve on But a expect the we supply give the you good will is we’ll a things know, which us

Brandon Folkes

you Great. much. Thank very

Joseph Ciaffoni

Brandon. Thanks, Okay.

Operator

of Research. comes question Kedra from Kevin next G. Our

line is open. Your

Kevin Kedra

Thanks wanted about to the exclusive for you’ve taking years. the had that questions. several now for ask contracts I

having some being us Does them plans been metrics up? one XX a Does you seen you’ve plans. of now down? it share XX, year given stable? on that the been much where on from Has to You’ve two? the leadership years, But move in it go couple year good have about for go

I long-acting the then, are that’s And few the at FDA. by pending markets, next scheduled competitively, in could FDA a or to there that been actually But or you year are on are the the products be last think guys opioid approved so. filed

potential with opioid do of couple evolving how entrants new next the the market? over you landscape So, see into the years,

Joseph Ciaffoni

Okay.

opioid longest perspective exclusive of comment the of and accounts. the Scott potential little I’ll into give our So, the the Kevin, particular, let where the I’ll landscape. entrants view on ones we’ve on been In then a performance on

Scott Dreyer

Kevin. Thanks, Yeah.

that the growth year out gates well. we the there year-after-year. couple what and running, years each growth then more look we growth In we D, away. beginning right as steps and continued see see we at we come see are have exponential in then And is, exclusive methodically commercial of of we into that see of when consistent contracts at So Part we the the a

So, we share to as forward. overall, grow the go exclusives continue

Joseph Ciaffoni

the regards And, particular very anybody a DETERx we of that with bar a the feel release sets a number good oxycodone. technology high come Xtampza accompanies market marketplace, to which is with were to differentiated abuse-deterrent evolution to in to technology, of the Kevin, very version that the the extended that for X, is technology, follow

around that’s what a time, relevant, would to FDA know, and you about achieve. be the been think what would lot standard product hearings of the have reason I or spending as thinking has a new having And the

feels direction And and need meaningful therapies. I available improvement represent currently going to directionally over in it’s a an think, it the they general, that in improvement

look Xtampza market. the So, to oxycodone ER portion we’re of the when you ER, at focused

and We in is technology, a high the bar. pretty DETERx are standard approval believe for confident the very

Operator

I’d There back remarks. the are call like further no questions. to for Joe to closing Ciaffoni turn any over

Joseph Ciaffoni

you. Thank Okay.

conclude I’d we at Collegium. like colleagues a call. my recognize today’s moment to to take Before

on growth breakthrough a XXXX. As believe efforts, I’m the is Have will pain of Xtampza year look on Collegium. management we progress. to stage its of be in ER confident Collegium next their become you is that I leader XXXX forward to our for a updating for track positioned in And a and good responsible result evening.

Operator

conference participating. you and concludes today’s Thank for call. this Ladies gentlemen,

You now may disconnect.

Collegium Pharmaceutical (COLL) 7 Nov 192019 Q3 Earnings call transcript