ADMS - Earnings call transcript Q2 2018 | Adamas Pharmaceuticals Inc

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Operator

Welcome to the Adamas Pharmaceuticals' Second Quarter 2018 Financial Results and Corporate Update Conference Call. [Operator Instructions] As a reminder, this call is being recorded. I would now like to turn over the call to your host, Ashleigh Barreto, Director of Investor Relations and Corporate Communications at Adamas. Please go ahead.

Ashleigh Barreto

Thank you, Operator, and good afternoon, everyone.

like statements, everyone risks which I'd will this and begin, forward-looking contain are we to that remind call uncertainties. Before subject to forward-looking regarding statements future results expectations Any events, are or statements. of reflect that note only the these statements this Please our call. forward-looking as opinions of date of We light to statements obligation future or no or update information undertake forward-looking events. these revise in new our such Information Form greater contained in those differ materially concerning from in SEC with factors that filed discussed implied XX-Q could forward-looking by today. cause detail are actual in results to statements or I would now to like to turn the call over Dr. Founder, our Went, Chairman Greg and Chief Officer. Executive Greg?

Gregory Went

products their is with upon which And due use we well at episodes certain our of and treat levodopa point irony on night, depending without unpredictably disease dyskinesia, and improves taken. our patients Parkinson's and sleep limits is the patients OFF to dyskinesia. afternoon, Parkinson's that and both the Officer; for taking an a Patni, represents during with first GOCOVRI By is We our dyskinesia Medical ON levodopa results without defining medications, not Officer. date, how patterns disease both disease fit dyskinesia and to with levodopa-based GOCOVRI more the the and for Alf OFF, Ashleigh, opportunity to this time system control as Merriweather, on decrease how shift. functional inform function role you, patterns, Parkinson's physicians for cruel experience. including drug Officer; the timing is speak level GOCOVRI levodopa Alternating King, the play bring timing and both redefine you first of treating we Thank timing by to morning, The only therapy huge the people increasing they lives. thing biological turn I GOCOVRI that Parkinson's on paradigm our biology. reducing levodopa. a strongest dopaminergic or Chief rely the Rajiv OFF to biological the by underlying Financial the their or our patient In effectively taken, upon OFF by and tapers Chief presents a and and based first to new Operating will of by treatment both in good the paradigm focusing of pathways continue call Rajiv disease. down central Richard reducing treat the to discoveries the diseases dyskinesia in the later waking spent today. feel, disorders in approach for live. are levodopa being that time-dependent nervous levodopa. and today. joining dyskinetic Dr. have disease patients' in disease Parkinson's enables GOCOVRI having treat. Adamas, time call us disturbed drugs in the our starts of throughout to drug day aim when approved FDA today concomitant understandings, At our fractionate of patients also underlying that Thank to underscores the joined treatment we am Chief everyone. disease, proof as and learned and rhythms, circadian day

early on on time-dependency the the on focused impact are of quarter, GOCOVRI through Alf? days, progress with In educating our highly community the to the the progress with starting promise pleased these With of patients, we disease Parkinson's about that, disease the launch to date. dyskinesia are Alf We Parkinson's the turn to like I and to of the team GOCOVRI. would the over this financials. of call walk

Alfred Merriweather

our second sale full method, specialty of recorded In for you the revenue thank million commercialization, product conference from recorded with $X.X we joining was QX quarter typically Thanks, our on This in recognized the pharmacy. to and of Greg, GOCOVRI. delivery our sell-in call. sales XXXX upon

has of This X,XXX. scrips drug total provided to from This Quick patient to approximately the assistance the XX. programs. patients prescriptions quarter, not paid patient charge include at number compares last quarter. approximately as Start of other XXX does XX, X,XXX total was number of number XXX approximately Also, dispensed dispensed March at the June to to and the For through prescribers no increased

framework for we the our are in pleased and with early total comfortable market quarter, level launch, prescriptions revenue remain year. we penetration the of the the and While for with in attained

of very encouraged compliance drug, are fulfillment, are We high. on patients prescribers. by and number for the And overall persistence

XXXX. for ADS-XXXX were an long-term multiple for in second quarter for Phase million. the the our in quarter, doughnut reflecting second $XX pivotal than range. $X.X of XXXX, the million and over that and level experience expenses, to not for first Part range or and will per $XX.X half. $X.XX half share as royalty-backed net be of debt impact. believe to rate, of net loss investments and million gross half million our for half say may quarter of detail. was call Research This D first our appropriate was in better operations well deepen half development $XX.X net net million that results, gross With expenses to year administrative, $X.XX for Richard a the in to regard significant for estimated were by framework, prescribing and XX focus efforts. $XX.X Our primary accrued in be selling, near-term us commenting Richard Cash second $X.X of the and With ADS-XX overall or based operating million call. quarter million, used preparations commercial this reduced June review Research to agreement. Cash to for half a had expectations pass SG&A positioning sclerosis on development share the of million on and for Interest the the which for per of more from during that not over describe XXXX to previously XXXX. study was rate, our $XXX.X these is With of said the that respect expense or to interest this other or royalty hole our trial continues the of key in to coupon $X.X the to We $XX were our reflects XXXX. focus million $XX than and programs the effective the the gross I all were the in on the reflected quarter the the million of first for we $XX.X interest specifics first for for We're rate start III for an first to the execute of walking nominal adjustments, physicians. discussed initiation to general, the that, was XXXX. million quarter epilepsy expenses first the expect will GOCOVRI on of

Richard King

Thank you, Alf.

in And had continue written of prescribers GOCOVRI quarter. So about quarter we patients the dyskinesia. for Parkinson’s the prescriptions over disease We filled to X,XXX launch for since reimbursed in the physicians have nearly this making available, the just and medicine. second benefits quarter, X,XXX educate with the GOCOVRI's GOCOVRI, unique

GOCOVRI's profile high have of we dosed to bedtime of the both with seen, physicians unique by Parkinson's patients, pleased waking are levodopa. and the being We amantadine their at prior concentrations disease dose patients reception upon taking to to provide first

us to work future for quarters, additional support remains to potential GOCOVRI's do in significant need. there towards population Looking realize fully to this

We immediate-release functional approach their that historic pleased in demonstrate are OFF both dyskinesia and data, largely from consistent results day; reduces and to are present GOCOVRI believe for our disease of we experience thoughtful increase and GOCOVRI number OFF a in cycle of dyskinesia GOCOVRI, for that taking see by hours to reductions These clinical in not remind that dyskinesia; in time an be with people prescribers. me total still is a let based dyskinesia think Parkinson's in that while been they prescribers, you, with of data see we the with their more powerful mentioned, GOCOVRI, what sustained the prior reduce over with there and Physicians the or for the appear years unsatisfactory initiating writing them. sum, X who we Alf having are dose. amantadine As to experience physicians have to levodopa prescriptions without want early with GOCOVRI very like In GOCOVRI of and fractionate GOCOVRI. from are adoption resulting X trials patients. a depth and to we lot on

medication the the over addition, on persistence therapy physician with GOCOVRI, patient to value are of the the once to and good seeing compliance In very and a is time. patient we reinforcing

hear it's patients, However, are than physicians we whom with a back like these somewhat taking for GOCOVRI. from trying would they longer to

and feedback with deepening can clinical peer; their accelerate As and feedback patients physicians' to development the allow the also possible, to ensuring as physicians GOCOVRI GOCOVRI. a development be and or experiences to them timely field period with indication am as result, those complete regarding the of continue some physician about individual directly the their of that identifying product. trial experiences from their of thrilled team hear the data where GOCOVRI's exposure peers we I prescribing videos, quickly that our and on GOCOVRI; the experiences from trial supports key shared comments we are about with their use their with focused from peers; with feedback for to peers their to end, the patients. from physicians leader this we also period ask of that hear and experience tools opinion using tools to own GOCOVRI To this are can patient a accelerate and peer-to-peer include back programs, their taking speaker to

noticed was visit saw was we heard on with another from regarding caused pause her from He smile and to on him on GOCOVRI treatment. due experience instance, GOCOVRI nearly office He started his reported with on a face. to being physician results, amantadine. For how is with a the which her unrecognizable on who immediate when results next physician reflect his GOCOVRI and she patients X different with And the wheelchair-bound stunned patient, recently almost release she a into dyskinesia. walked from GOCOVRI similar

stimulation by we brain after deep and started from on with initiating stories it was directed the patient's events, because These and partners. and One patients This expanded time. education to towards continued of physicians care the country. seeing begun positive over programs is of usage key disease prescriber effects their a of dyskinesia, patients reinforcement not the We've challenges those of patients to the severe physicians from around follow-up. results isolated X and product of years his also hearing and amazed continuing at X are are GOCOVRI the having doctor who

Just approval disease or the people Is the was taking, was significant movements aware announced resources, or dose between a launch and new GOCOVRI's OFF Is care about levodopa unbranded patients yesterday, daily drug we media our conversations the patients which online those campaign of episodes. Jerk are the titled, uncontrolled campaign reduce social through negative they twisting treatment dyskinesia that community physicians. because Surprisingly, by to of to impacts encourages their dyskinesia jerking Parkinson's of Parkinson's despite we before their partly and educate think Jerk. A life, option their and Dyskinesia that often partners discussed are increase the awareness disease, affected, the The used reducing aims primary with are not recognized Dyskinesia recognizing associate A that on

couple We dyskinesia campaign, comments on this impact regarding believe a and very payers. will have in quick that patient to A awareness of launch population need. positive this excited are to raising

of We prescriptions reimbursed continue payers The short GOCOVRI of support to a to see time. GOCOVRI board strong majority in are period prescription submitted reimbursement. on regarding from significant being

to program support With down are call to access Start Quick our the as from Our launch. I'll Rajiv. recovery although quick for that, program program, seeing this continues we we the need further over pass slow the through onboard progress

Rajiv Patni

comments. earlier good and to like Greg's up Richard, I Thanks, follow would afternoon. on

One of regard. and data functioning possible. normal patients Congress Parkinson’s as Disease disease, achieve primary how this we in the treatment much is to GOCOVRI goals, with of help the GOCOVRI illustrate Phase in presented Parkinson's The Pan Disorders Movement the at may as III American

terms, transition. we For the episode time, the and introduced first

start Let's the term, with episode.

dyskinesia during X Before time, is time of distinct day. episode reported about composed These X of that treatment, of total each of ON lasting approximately episodes functional troublesome waking a X of hours X were hours patients functional about without time, hours hours. the X

GOCOVRI time, functional of in intervening dosing patient takes disruption or the was That Why? was high the us data baseline of That's rather disrupted OFF, We so functional but functional was hours that dyskinesia the expected when before day. of the X of caused And III from a reinforce Let's are free disruption? not X.X amantadine patients GOCOVRI, of maintained cause weeks experienced and the transition episodes continuous levodopa time, the As noteworthy, means term, dose functional of brings bedtime no this the the patient OFF. transitions. no from concentrations that the of A provide experienced nearly episodes OFF. patient of during pause of experiencing XX% bedtime, XXX dyskinesia increased XXX-milligram went the dyskinesia, time dose prior transition. time. and GOCOVRI-treated the disrupted or X These functional here. workday hours. an to GOCOVRI. throughout a day a transitions. functional patient dyskinesia continuous is is episodes At of baseline, This to treatment, given OFF waking population, on first between perspective waking time first the Phase the entire of importance That episode hours population. what by XX to X the was number continuous achieved hours milligrams time patients' transitions, X.X no After where pretty designed demographics by of GOCOVRI-treated time. new data, of patients points And at with the awakening, and

and the early the in waking OFF day, steady-state sense. and makes dyskinesia Given profile periods morning pharmacokinetic of the both occurrence throughout the GOCOVRI

Let's move capsules in ADS-XXXX impairment walking on extended-release to patients multiple with amantadine sclerosis. in

first disabilities system ADS-XXXX X based and advanced recall, their the first MS development placebo-controlled in quarter. patients the enrolled impairment the on III evidenced as the ADS-XXXX Phase by patient leading from is in enrollment. study follows into trial, our and the our investigational We II our the diurnal data a you by sleep at walking INROADS investigators coordinators, of impairment of walking of study. immune We research by Phase As driven There reports. associated rhythms and circadian the are the fatigue III MS screening pattern, the regulation. enthusiasm in strong and Phase occurrence end successful

second this of We expect enrollment half to in continue to XXXX. trial first the reach full

Phase the the XXXX. on initiate successful, could As that, III if the shortly will look we to mentioned III thereafter. of back to we trial new over pivotal first bringing before, forward With we And Phase depending results to hand trial, indication the Greg. call second this in market I

Gregory Went

productive as pipeline, Rajiv, you, half I year. been today, for pleased Adamas prepared thrilled well the the of Thanks, the for its very, I being efforts studies development advancing and your I very with XXXX. GOCOVRI impairment that, of progress in and into we seeing thank the to quarter. and our team the Richard It's look call ADS-XXXX also in to entire Alf, communities also the I'm to first forward with first commitment patient the continue results a with this developed MS of study be ADS-XXXX pivotal And like Operator? of questions. and our up with well would as all and serve. launch with to for to walking Phase open III passion patients and

Operator

is Evercore Josh from question ISI. first [Operator Our Instructions] Schimmer with

Josh Schimmer

update, by prescribers last The about of the the per prescribers GOCOVRI have it of by scrips Since XX%. XX%. like about grown looks grown number have

may slowing sustain to kind in think delay prescriptions the that back I commentary prescribers of do be how new per on based going ability forward, patients. prescriber about the suggested those of hear week? per the your just growth some getting think So in physicians maybe from drivers you XX to And

growth So efforts prescriber? do be how least prescriptions effective will sustaining at you of think in your pace per this of

Gregory Went

Yes. Josh, Richard much to the handle you for question. very it's going Richard? Greg. Thank I'm one. that let

Richard King

Certainly.

down. that's stop. within is getting of down that significant is at over stage. just It prescribers, And math week. the going time. the So right, imagine so or going will X X,XXX about certainly, do prescribers has to XX But I -- gradually you to slow some course you're could don't to Inevitably, number of It slow that's I feel, to per months, success. Josh, a the the

III. Phase GOCOVRI product. is we for that that clinical of news patients as is effects move the particularly terms GOCOVRI. that It's in that, think In get We at reason, become the the as a describe when them on And time, we immediate And And they data trial their the has then to good reflects, strong prescriptions But that trial our that thing, possible. because see the as Phase GOCOVRI by benefits feedback And that to to mentioned physicians strong call, quickly they the through this, for challenge affects release III comparison it want in as that's that of largely increased. complementary they the that and functional prove as hands, illustrates. the And that year. are they for generally the of surprised on see decide ON half of dyskinesia continuous mode physicians GOCOVRI are data still a to our important and per dramatic trial prescriber, I of that stage. number has the own period, prescribers and from present the in in the to as they're that of we focus do and OFF we GOCOVRI who period trial amantadine. them, for regular our that through second themselves,

Josh Schimmer

return. time consensus and at ahead I patients this least think have the swifter? you the took is -- with frustrated at were you to thought expecting you're investor in the with this you for looking something would expectations. would You Because evolve? generally of Did line sound numbers, think this well maybe Or been it a Is quicker? how little the

Richard King

in generally It's line.

I community some this think is communities. that the -- neurologic cautious community, than other a little this more

from we'd we're numbers day. the the line. ahead of in the And where thought which reflects We're be a so, at probably I end in on counting general, standpoint, of the prescriber

Gregory Went

look thing would way that's company's comments, the my financial I I it. not changing reaffirming repeat one It's still we just in Josh, that that to think we the -- framework But said laid expectations. out. We're at we're the

Josh Schimmer

Great. you ease of to the OFFs of access discuss from just And IR characterize could last percent well GOCOVRI, terms then the IR as as of prior plans sustained well. you're formularies their positioning or versions in status and reimbursement, maybe seeing question, of with on what amantadine

Alfred Merriweather

So like sustained little IR. very characterization I actually. on that

formal that of formularies, for process issued see That guidance to terms plans we're us are formal is continues on have they're not GOCOVRI. prescription In how criteria happen. clinging yet. to current a approval of published cases, for of reimbursement. to which processing still continue we vast for plans seeing our very for now majority on us. in very, And number majority But good GOCOVRI of the the the quickly, overwhelming reimbursement give position support those plans that reimbursement have to There

Operator

Our next Amsellem from Piper Jaffray. David with question is

David Amsellem

a couple. Just

payer expanding the access. So first, topic just on of

what having I immediate been I terms of I where the step a think you've soft to guess, release talked just exposed check amantadine. patients to past box have in about the it, would at in call,

how then that any I still sense secondly, a I payers that's the the Downer Do about drive payer seeing in on your product any risk evolution to in about about been one. sort number maintain thinking here, payers to you is mean, of of case? efforts it And that, being your ask guess, has OSMOLEX. as of So your are being there of or going are access? with at and And terms the thinking that emerge Debbie the in get you I'll dialogue And radar?

Richard King

on to is formal on plans for without are and be And that and, confirmed confirm to prior -- prior that is authorization tolerate dyskinesia So overwhelming thank release to which having GOCOVRI finding patient therapy generally immediate general to to of cases, be payers that, we're in the guidance way is some the dopaminergic that the some the the for that for you, a presented plans are sense, are formal David. physician Yes, effective requirement has had patients amantadine. required in in guidance and reimbursement. have managing there failed that both exposure majority to or the patient supportable find

look a On contact the few the on subject with I'm offer sure, the will that that believe, of look of the granted from unique data GOCOVRI clinical will as on it's as the majority have some provided based end their their and of been I opposed hear of an physician GOCOVRI. IR well too, treated our evidence evidence. patients. they'll evidence bioequivalent to feedback for population. it. They'll depths absolutely look without because that the have and at of and the Osmotica's which of to for pharmacokinetic that also the the them III to product, trials. expensive look an be at we patients, the population, payers, much the an from basically by sure breadths that's I'm But feedback into ER clinical any contrast is profile that based patients at unique with it, Phase they'll indication IR conclude OSMOLEX product, amantadine GOCOVRI. day, for evidence of GOCOVRI from there'll at plans as FDA already evidence in And form that Osmotica's for the to effect this alternative with the or product And without they They'll been

forward, So majority, will I some see move a think it we'll what but sure is. I'm

David Amsellem

should or prescriber prescriber I is GOCOVRI? prescribers? sense audience we another just that question. if are spread any the regarding put there around it mean, widely ask Or is the the that prescriptions base. pretty your follow-up And among I is way, about worried may concentration prescriber This be a about

Richard King

the in in us, target levodopa, tier, X,XXX who X The carbidopa physicians, of primary We have -- that rate, see you prescribing referenced heavily before. continue majority we'll of that this of We efforts. think our That's group we I of we've see other a tell prescriptions early think to population. I space. have coming folks targeted our them from from high separate is products and this the use prescriptions talked where who for I'll at and of about physicians. initiated also I've majority And a So tiers. this coming

Operator

next Tazeen Our with of is from Bank America. question Ahmad

Tazeen Ahmad

wanted I to more a bit little color. get

You the points us X,XXX unique prescribers aware about versus have Can unique sales give before sense X,XXX might physicians or prescribers. a scrip? talked of already prescribers, you those at beginning force of had of touch with how a many have been they who might wrote GOCOVRI

Gregory Went

one, Thanks Greg. Richard mean, it's I'll too. let the that I for Tazeen, handle call.

Richard King

majority So who ourselves. talked have to, the by the been we of have prescriptions from obviously, physicians

Tier but Tier -- X to to we're probably, not and talked we've Tier lower get to Xs, physicians. we not close XXX% contact as XXX%, X. goes in with far we're So from X -- Tier It

representatives them been able advance, a year. those example, X we of And the offices for get in there. into or calls I'll still X. they the offices, Tier made in Tier And to in year calls cases, to emerged there marketplace when know, point be set X, some into that Tier we've were as also, that there's set in last some and So out well January, for we fall

contact go driving those of second to question. part I the in but there's different -- and in Tier And the the to general, first X, So forgot more offices. made we've contact.

Tazeen Ahmad

ahead. go -- related was It

Sorry.

Richard King

No, go ahead.

the was part second your What Sorry. of question?

Tazeen Ahmad

I have in heard the sales physician a terms It with of force? those of also of speaking related once GOCOVRI know, was but to how contact of, force, have your had that on points many with contacts many of physicians you how data don't number prior in the to points you with sales

Richard King

And experience you are And of you. population if think, prescribing very the broader our in experience there's Good of a encouraging they're as clinical well general. program. number physicians. Thank in to obviously, who -- well. of look They've at is before physician physicians study physicians, that heavily population And represented I the in involved population point, our that important, had we yes. write to population certainly,

excited our see certainly what in we and were the study program, they yes, supported and who in the also patients. So studies, about usage physicians saw have the in product involved

Tazeen Ahmad

to then of maybe wanting the more have further educate you question. the continue And you Okay. speak launch, talked still to one and At physicians. beginning about, about,

an based one speaking GOCOVRI. with, think area understanding you the you're in misunderstood had mature But true now, is that among physicians little and difference your an launch between of IR misperceptions feel you're identify would the I that of if was as be? the more sales feedback, you amantadine on to particularly a bit just force what

Gregory Went

Greg. it's Tazeen,

a chime underlying they of really patterns based Let timing look a dependency, first, that then and are in are biology is like understanding I'll Rajiv area, disease. the let on, me take Richard pioneer It you discoveries and when new in. time our and you at what

the started was really at the OFF of disconnected mechanistically, art. to so that occurred the was that state fundamentally just dyskinesia when, circadian of And rhythms, the the dyskinesia the way the it and something notion were wasn't day, that this back tied that I when the so end

and GOCOVRI, is us And of disease, hand it's III in Phase from so That launch in gives comments, academic data rises into literature. of to of really understanding the just with expectation ties IR, overcome, literature along in claims raised with, Richard you point that very which to the of his the it is is drug it and levodopa. it slowly, the giving has opportunity, disease and product, taking in high a night, the time it represented so at a to raised prior which from how one the non-success so by challenge dependency well mechanism documented

things So we to need overcome. it's of just a couple

The having your physician, raising and lowering I out symptoms. them will just dose, your them their recognizing get being OFF and their which lower as time. of won't maybe they levodopa fear yesterday, thing, progresses, Jerk disease to that the doing -- of Is think more We've great one which launched dose Dyskinesia they is at live dialogue those A in we're recognition it. in

It's way anything... it really daily of drug So benefit. can modality. disease, nature the against fits your substantial It's that's Richard, the another fundamental. correctly all part a patterns, of into education. the up in It purely a not clinical actually to goes timing the patterns those back result matching a how how and

Tazeen Ahmad

Sorry, ahead. go

Richard King

I to have nothing add.

that think very well Exactly stated. I right. was

Tazeen Ahmad

the is just to initially? physicians? who that -- you on issue price, that prescribed discussion that a physicians the also But get detractor it's not as for viewed is been for part haven't been have it of know drug, And an I patients. those to with

Richard King

also educated really wouldn't dependency we say something important time of of it the patient over the that why does Phase expanding interesting to Greg think that the have is GOCOVRI, does, The their that of dyskinesia, rightly from to it is point data But to control this that I physicians And that. And initially physicians experience a their we're work deepen to population biology the talking concept. GOCOVRI and certainly get designed of with as the about don't tractors the I is physicians patient profile way The got did. they proof is engaging has consciousness, that point, things, on III. been the aspect the time-dependent for as that give GOCOVRI mentioned, doing, I the set understand approach. up have on how we is decades. we why think just

to prepared increased. that your an GOCOVRI not be paradigm reduced have presents opportunity dyskinesia, that. to changing levodopa and referenced you've do And important to one. is an time have your OFF dose If

Operator

from is Ken question Cacciatore next with Cowen Company. Our and

Ken Cacciatore

questions. of couple a Just

patients. kind just it so can would you the possible the getting rates, -- them factor know is feedback the you But sense to we First, know but all good what we're can these figures, anecdotally us great call mentioned a refill We would give it persistency to from nice of discussed of be anecdotal be. understand? feedback, and retention we give

total Divided would it minimis. and it capture And folks of patients? I being net perspective, maybe And that, mentioned of and we talk you how change. as written those many sense to going future it? paying, then, kind are as give can think giving maybe you speak -- then lastly, quarter? taking the positively looks looks discount Alf, so analyze you are about all can quarters, you it to And revenue, surprised de it. of just maybe you no just could And patients it us the there's by like now, the how may very pricing amount like are covering. we online if on not for there coverage them, it were But in just understand can't so to So prescriptions good a for consider prescriptions gross can is to just the you payments we comes all a discounting. be almost many for Is a

Gregory Went

to want All right. the and toss one, next it. to I'll I'll take X through Alf, the if first you get

So the Ken, for it's Greg. Thanks call.

yet, We early we'll persistence at and that have reevaluate not provided the compliance year. of days. on details end the It's and

that launch compliance is of amantadine the refills. us. our data. when we drive label we're their We part that during poor some become pleased make was experience numbers with to and big in and reliable as Onboard sequences also getting open very terms looking the obviously, own physicians for the with you As positive the patients experience we the could I persistence add of helped And those GOCOVRI would a stabilizes. our had, experience had at it. What as And know, of

pleased right durability consider we're But rate GTN? will of the the So on now very that Alf, terms -- the I with of durability GOCOVRI. we're seeing now end the we year. of of towards say what can in

Alfred Merriweather

Yes.

little report of with number between to So revenue the the is a that paid prescription fulfilled, actually specialty was based we of quarter to all, deliveries bit math, a do we first to prescriptions regard on disconnect current and our pharma. there shipments our Ken, the think

fairly discussed is that maintain, -- previous they and do but calls, So inventory we've inventory, on as a some small nevertheless.

the for other to So impacted by Part the hole. in to with regard from no than lower companies, math that certainly, degree. QX. quarter level, there we're significantly is that us. as was exception disconnect some And you is know, that, And many QX D is the doughnut a

appropriate lower an long we do We into term, to think the given, way We're But think specifics. not about that. get going is that than still are that we've range that somewhat to it.

right again, that of for forward, holes We been one be impact as better that some think will going life, be not that on slightly But future well And we'll net. long even term, of to the though to we be be and there has go an are our contracting we're rational is have than that. sure. about as And gross the that part may we framework going forward, thinking about date. But doughnut to currently. perhaps level material to go we

Gregory Went

as patients Quick patient -- his less to was onboard, patients And beginning, being in to become to and patients familiar is the -- gain GOCOVRI who assistance part regard Start, more also by program call, Onboard. percentage Greg. Alf commented used Ken, multiple is being less, the as are paying, in with put And which the not and in just small. begin our confidence we're not With the of and very used back supported

Operator

Our is Lugo from William with next Blair. Tim question

Myles Minter

Myles My from How as scrip patients more following you Lugo. with question see about as doc for does Tim from just like. Minter them time a you'd up lag about aren't back? the away to going it quickly the is potentially with that coming seeing take long on that granularity,

Richard King

physician seeing take a standard X-month patient that But a a variable. know one. cycle. the we cycle So I'll that of It's is

and than So to also X-month faster that see to that accelerated physician like cycle. we get feedback would the

Myles Minter

give following on know And the prescribe can not? so color he's cohort, up as in you follow-ups, patients their rather that like you're the patient with that in se, per rate retention I but GOCOVRI actually as prescribing clinicians to willing not us in commenting to that to a more compliant opposed are any regularly

Richard King

give I actually. don't haven't that. looked on I I have at you that any information can

So I tell can't you.

Myles Minter

to the outer Are is there we fine. in products real product neuro And your modeling out thinking and to X are its X But completely trying comp adoption. years. quarters sort of stages That's seemed different trends gain then I'm look quarters, a of traction launch. of Okay. know forward still just in that for this I launch?

so are talking your on like XXXX, to can see we like about today? looking acceleration you're expecting And into deliver that that if forward something education you promise

Gregory Went

able the a in of very to X terms well. be will careful But there plans. we hurdles. great interest. it. of sales be stand a it because of really covered They And Well, being increase a going we last caution confident force They're the years mind, on going an achieve term, tardive It's we a achieve the that about and and with continue psychiatrists. I share. looking be -- of awful are to type different watching as X., into And grounds, associated different in similarity year. you're dyskinesia, a with this X, population commercial product feel different where primarily our going patients it would approached able are we despite different would in this I are dyskinesia. And the Keep you. and very got out to with that have with framework multiple a an market towards are by carefully to wonderful is there think patient significant we're by But data set. treated educational you They're product with out laid lot a and at year? a in different in dynamics to on the be price different also physician September, population expectation and annualized basis penetration neuro very challenges We

Operator

Our from Mizuho. next Koffler question is Irina with

Irina Koffler Q

timing the my that? receiving And expect to touch you Medicare Can talk That's an point base are of do turn you they question. first on? plans inflection wanted when on now? patients. drug I How you these the about

Richard King

the of to quickly. we Medicare has I've this patients, will seeing associated their their not it's issue formal or treat said plans, treated of support patients. an how happening just Medicare a that Irina, overwhelming commercial before. majority the with guidance from Despite fact reimbursement -- So kind getting are patients the formal They're plan and it's issued they Medicare Richard. like

Irina Koffler

any revenue, methodology in going happen then of And at terms that maybe the for way are And of that recognize to Okay. happen. point? be about off just to time switching needs you what to talk you

Alfred Merriweather

short record answer the the sell-in method. on Irina, no. is revenue We

on the and sell-in you may we the to be old you prior kind experience sell-in. called method, method which would Under from transition rule, been expect a not thinking from, would You once have rules sell-through, rules, we X, under under have change. the of current more to about sell-through the day

will change. We not

little on deliveries So our based different prescriptions of we -- which pharma, yes. volume a is filled. take the specialty And the revenue of from actually to which

Irina Koffler

them that repeat trial just mode XXX X,XXX, to then are that versus have trial looking maybe written of And in percent prescribers percent the great. just -- universe -- you the of repeat understand. versus you're like yes. have, Okay, users the what the of guess, Like in versus users, targeting, mode? your just are What I or even wanted at amongst ones

Richard King

at continue of come increase this gets to number into prescription, back to the to are in depth earlier, is prescribing trial of they them physicians that on to not waiting place get And to of commenting where not We're stage. patient see a regularity, as feedback. that to mentioned give with the there the goal, depth I've a for them that

Irina Koffler

it's per about just Is this And it any or you prescriptions that number there will per out, doctor give -- a at according X.X can per like Or to XX stabilize us? calculations, patients my doctor? rate think you doctor.

Richard King

I can in I But knows... if don't significant else anybody don't any I know have it mind. out. number get

Gregory Went

of you from very large these rural variable, rather the neurology large to have offices. movement more centers, patients be concentrations Irina, where sort could to of answer The

it's really and to early variable, what exactly like. going be So look it's tell to to going distribution's too that

Operator

Securities. from Jason JMP next question with Butler is Our

Jason Butler

on being the that duration are those just the say of GOCOVRI? other you're terms stabilized terms once first characteristics removed of symptoms, the treated, dyskinesia, being of more they guess, of there then severity of patients other terms like PD in can of that I PD III you on? examples the Phase for question, seeing they're the their to program similarity actually meds are become in the patients adjunct in adjunct anything meds patients, And where

Richard King

knew the got commercial about the arena history disease of characteristics population, Phase real their Parkinson's in III. patient we compare no the of I've population the So with what disease to in data to patient

question. of So that to whether part I've give that can... can really got I the don't color Rajiv would know I nothing provide

Rajiv Patni

in just the would dyskinesia population. Phase very remind all-comer an were everyone deliberate have that I program, to III we

not And up Parkinson's to So to which we a our the dyskinesia labeling but dyskinesia is have, the indications that a set was that population. inclusion were not dyskinesia why disease. with is restrict -- broad we criteria labeling subgroup, to is the have

Gregory Went

have But study we as collect Jason, how when disorder taking, you you there's launch you the to we'll say does data, that. were old, average think, that they the versus look get some the work further in and treated, we a in they echo XX and excellent a movement of really that center neurology medications at about are what at fairly in the of demographics to that years more baseline I clinic, the overlap. to published a compare population to more point, And Rajiv's when look the as

point, agonists, So of concomitant use of reflective the the levodopa think dopamine overall probably population. I this are MAO-Bs, at

pathway safety patient lot that continue is but pretty can shift poster, to very how treating seem utilize to interesting come interest. question in you just which their that significant dopamine. allows a to a really And time a asked treatment Because product out the tuned this you, flexibility them might about you put paradigm for actually concept first how physician was like disease. on label coming their When shortly. a will you And with about and watch a stay the that simple a great it's more a think open we market in here how adjusted. You be the non-dopaminergic GOCOVRI, your

on follow to up that. so we'll And continue

Jason Butler

far the degree, some respond, are likelihood specific question the to going is will that docs is magnitude the a that in trigger the ready to matter. we'll The what across on? phase, seen second me. from call But And prescriber? talk focused then for have it, just call and tolerability, physician And physician of a, they're durability, there population, that trialing it to vary more are all acknowledging you've answer great. a still into you the points effect, about -- trial turned so that these Okay, can of

Richard King

profound. what as strong The profound. think The into data is on OFF I'm we impact profound. The looking present I I mentioned dyskinesia functional the our -- both hit presentation one is we to on in drug profound. for very physician. impact time is, earlier, fact the The impact is is

sure is making going moment. why to we those to product, end. we feedback That's the to it's truth as know amantadine." those energize of true? this we the rapidly with and but I that's I goes, the so feedback think -- it." And physician that see that get impressive jive very which think, It's some points, "Wow. gather back physician All the think with why And make spend that,"Is possible it a that I things, ourselves we're as doesn't I even time my that we I to sure from to it's more the physician, patient want overcoming the experience to and important want true.

Operator

next Serge and from Our with Needham Belanger question is Company.

Serge Belanger

Just of couple a questions for me.

physicians they to And trial results is are First the one, going question lengthy patients with on really this on the to achieve IR they're follow-up it process? can as the the involve? trying for whether process. same amantadine? trial a How prior does the typically -- see many how And those

Richard King

think I a think there's there's don't It's great a I number. duration. a magic don't magic questions.

is And of that tries good effect. kind you convinced, same I third the convinced. GOCOVRI, patient experience result the in, move "Okay. one the on I'm those tries a The see the that can know first have I'll forward." GOCOVRI of on physician patient when it. you it's think and physician can

positive. magic is period experience again, very So can't good to a is patient GOCOVRI on really this I point at stage. at generally the news, The you

their Phase of that to sufficiently And of the the fairly and a talked profound we've in As patient disappearance areas, in other can quickly convincing. that be effect. program, trial feed population GOCOVRI, XX% had III pretty can back physician, about our a dyskinesia. That's

don't -- have dependent. don't thing. not it's have normative an It's So I a I physician-to-physician average.

Serge Belanger

the Okay. event? is safe trial more a But to it's monthly that say process a weekly process trial than of

Richard King

it and got into and patients We're happens. get start time see depends. and at We've who where it sure in experience. physician-dependent see at physicians in point again, patient fashion a a as will well, possible. trying much, to -- no. And one start occurs and focusing that physicians get time one accelerate That's of got as we what to want who X our a happens, to gathering Again, want what we very quick terms we feedback a point make it's I've And to in just now. that that

Serge Belanger

X, about force? with like reps. look XX, still to been now the adequate-sized sales Do force think expansion that's the prescribers? months You've in reach And about you sales phase X of an would what the for launch high XX quartile an next

Richard King

have the this think salespeople. accordingly. the stage, keep we evolves, number see how the respond sizing that we appropriate at we But So think the yes. our on market, of marketplace. for we'll it appropriate opportunities But the to we with number And At force sales this we in eye time. we'll now, certainly always an have that

Operator

next Wainwright. Our from H.C. is question Ram with Selvaraju

Ram Selvaraju

ones quick So on GOCOVRI. a of couple

the could the case, new for are do really a is that wanting And argument GOCOVRI? take or and sets is them hypothetical to that what saying and from a the of be their justification clearly be decision, and wanted they like? pharmacoeconomic have try perspective episode the OSMOLEX case you transition, or And any referring of time improvement comparable? products that And viewpoint? such the exposing such interchangeable discussion what just in prescribers that before in emerge? patients potentially be frame to physicians come on to were could to do to so, secondly, this sense, across making directly kind crafted support arguments and of potentially there of that from not given of this if what what favor if GOCOVRI functional look Firstly, could back productivity might you that independence And think, data around patient's to the that appear

Gregory Went

Ram, it's Thank Greg. X for you the questions.

developing And to functioning On time disease OFF being the and gives a to value We've I'll if of product you the first deal, really wants up proposition. HUOR see in. chime done one, lot start the the day, and that a has is a GOCOVRI. on back X your leading and work Rajiv very disutility of of strong where a during what's good expensive hours big the called a in it --

another In terms to any if opportunity Rajiv? even way. it in you episodes And have more analysis of does that Dr. a the on and Patni's look latest impactful present at thoughts that, transitions, with

Rajiv Patni

No except thank the you for idea. comment, additional

Gregory Went

to now now. physicians course, And choice With OSMOLEX now, right Yes. we immediate GOCOVRI, making between OSMOLEX, release regards right expected. is every of not as are day and available the amantadine

amantadine And past. in some being of those immediate choices patient the upon are based the release on

perhaps think tried small having at patients inadequate all, had reduction response, maybe of and their right high we upon they their release dyskinesia there's start or what based that in open and to maybe GOCOVRI XX% about OFF. number on in very to doses a to and similar patients on And not. now are whether being have and that Some want people immediate amantadine a on label haven't saw would to our study release immediate coming the amantadine when amantadine in transitioned

think, is the those plasma of sustaining the the version morning, spectrum the they comparable into with a into population a evening, of that are come afternoon what a convenient drug, that's So you same will disturbances, a the have that more that, release of sleep people's time, IR. level And amantadine with given -- the over in -- of I kind which rises experience. where result and get to expect to will has

that learned the job plasma last I as thought very on out our data is months, will be time time-dependency come of the compensation those So as said, high over the processes of is And that's think educate disease. the go sets it's we've clinicians administration Richard morning. the And when -- OSMOLEX of to X it. That the compelling in compelling, available. surprisingly GOCOVRI, on

Ram Selvaraju

follow-up XXXX walking the just MS Great. Very in And quick on one for helpful. context. impairment

of timing market? dalfampridine If dalfampridine, possible potential what there any because kind MS, candidates, simply only dalfampridine Not could that's of dalfampridine you're you're duress because solving I between commercial there at for on to might walking aimed walking the you the this argument thoughts of commercial impairment. thinking simply generic have that draw out do treatment because that ask any to trajectory they're it's elements I how with potentially want that watching is generics think symptomatic impairment these And about you symptomatic targeting the and but which was dalfampridine all. the if the impact XXXX, the any capacity into with and trajectories at matter, I transpire being situation the wondering and is specifically treatments, evolving, made. closely whether

Gregory Went

since its especially Ram, made well And it, very who question. of it it was that background for it a a dalfampridine it phenomenal question. back Acorda date a the of obviously, to Yes, the subpopulation on put peers at population, response many that a it all. light was start to job treatment who respond there's XXXX, did to product, at been it developing in and patients and Acorda. don't -- situation when respond me Elan, let when Thanks, sharp the watching Well, have to before

brought on folks So a market it treated strategy got people And well what are consider that novel a it. market, I've today. in and access the very strategy. who very are I to regulatory novel supportive there a

in has into his account designs. trial Patni Dr. taken So that

then look If let just and at you could it, how finish. Richard touch you briefly on

Rajiv Patni

that's Phase an to So respect the population, important on trial who III dalfampridine with enrolling to are everyone use. a patients understand. point of the steady ongoing -- for And have history we

which impaired their So important past, are, data point dalfampridine. we overall patients point. an includes in walking the who of generate aim some in MS with treated ADS-XXXX to at population, That's

a is The walk of the second not which larger II is walk we we takes the walking going trial, just and is, to essentially Go amount the look Phase in and longer inclusion published the exclusion at Up also and complementary trial as same of XX at III Phase test. feet, point to important criteria, it time the X-minute are speed, our with and Timed looking we're walking, and study measures

speed. successful So complementary Phase measures of pivotal we if have not III, in walking are just that a set will effects we to walking, data has ADS-XXXX on demonstrate

Richard King

there's probably that for positive be very of have That's at a saying of patients. it Phase the -- is could XX% effects characteristics? that's hopefully And Dante's -- population patients notarium? then I their to data those population just as I up fact support that I of in XXXX launch an to that, or present the I I'll not addition wrap when thereabouts, by that the where time about positive think in this That XX% go effect. whom good dalfampridine and the can providing dalfampridine doesn't don't No, to in need, commercialize. effect's And in we think XX% that think to at are generic assuming Do need. important III, means XX% there's important, or whether because XXXX that -- we a not given product, is for

Operator

would questions. remarks. further to turn the no now Greg showing back I'm any I for like Dr. call further Went to

Gregory Went

appreciate on we let in you your us on conferences look last of afternoon upcoming for Thanks So me very seeing proceed you thank meetings interest joining as November through to We we and really to listening progress, our the to our forward sunny do this and this sunny, all much. call. for here California. at hour time your

Operator

participating thank for conference. today's gentlemen, Ladies you and in

Everyone, disconnect. day. now have + may great You a

Adamas Pharmaceuticals (ADMS) 3 Aug 182018 Q2 Earnings call transcript