ADMS - Earnings call transcript Q1 2019 | Adamas Pharmaceuticals Inc

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Operator

Welcome to the Adamas Pharmaceuticals First Quarter 2019 Financial Results and Corporate Update Conference Call. [Operator Instructions].

As a reminder, this conference call may be recorded. I would now like to turn the call over to Peter Vozzo from Westwicke Partners, Investor Relations for Adamas Pharmaceuticals. Please go ahead.

Peter Vozzo

good and Joelle, you, afternoon, everyone. Thank

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

Gregory Went

Thank MS. priorities with to III with for therapy; on of driving a and Chief start levodopa-based multiple our across sustainable you, create I'm notion: treatment of Merriweather, Adamas, Medical built and Parkinson's At our In Alf thank a this: are focused here patients areas. around patients patterns achieve impairment Dr. with therapeutic completing and result Parkinson's us in Phase also receiving our business everyone, for progress key and Officer. joining growth important that X and can you new Officer; Patni, our understanding disease in today. XXXX, and patients we with Rajiv walking for Chief CNS ADS-XXXX of good I'll single on timing the in in company GOCOVRI our dyskinesia Financial disease. the Peter, study afternoon, disorders medications for GOCOVRI we

first number across driven from the in of the sales quarter persistence. demand first primarily half an patients patient increase the sales quarter on patients new starts. GOCOVRI the from late Overall, for approximate X,XXX program therapy strong The starting to in continue GOCOVRI of patient almost free our in in XXX first $XX.X were compares the on quartile we XXX new trial total of approximately top quarter refills quarter product For XXXX. new introduced XXX, of by was net prescriptions fourth million. XXXX, territories, Also, high in number our to see quarter X,XXX, approximately of of the the under accounting patients starting fourth February. This our including starts was XXXX,

with part new This and Medicare quarterly February. and start that seasonal calendar drop impacted Part is plans a January due issues observed and year associated for the expected insurance in commercial to D of

got March in in and highest were the April as starts patient we program. the quarter implemented New later in and free trial

is Now converting focus GOCOVRI starts new those patient paying on our to prescriptions.

fulfillment in for delays challenges. seasonal was is patients through navigate strong, having the indicating Persistence successfully patients on the on the we increase thank remains in our in associated quarter, We increase helping a that our and positive achievement customers for previously. a This noted them great these experience. team, drug patients and issues refills with prescriptions. driving saw to Turning This recovering March, seen the increase overall largely GOCOVRI. already total first seasonal from are

at of months. to X We XX% compares to rasagiline. better-tolerated treatments, adjunctive see to of for one a nearly persistence Parkinson's called XX% This continue rate XX% the

new by see to opportunities to strengthening forward, commercial drive we continue patient execution. Going starts

finally, QHS OFF apply of and dosing around are of our episodes, physician-specific and on and GOCOVRI. free OFF education our and benefits We trial dyskinesia learnings awareness applying learnings as These experience. messaging, adjustments targeting and new focused our patient our our build physician to we and and dyskinesia dose the

if early The on well patient campaign previously. care of partners campaign new real we and is patients and In caregiver both them. to right less their mentioned for encourage also GOCOVRI. speak day, may earlier programs. more and to features campaign the reducing go-getter their continues aims we life Enrollment to development which as Switching pleased waking should our see addition, OFF GOCOVRI that doctors after GOCOVRI to patients in a throughout is MS in impact impairment XXX,XXX in about INROADS the are U.S. up in patients struggle impairment at before and in the a dyskinesia GOCOVRI that launching Phase be patients affecting real for walking MS. to symptom educate with, the The their and estimated June, to patients adding once ADS-XXXX result patients with as patients about III Walking lives common dyskinesia of speaking bedtime study with how an

opportunity the suffering believe benefit unmet deliver this results walking to meeting dyskinesia patients in XXXX that and III this potential has We patients ADS-XXXX quarter to to the while from value Phase study GOCOVRI long-term creation. need these benefit significant of MS and opportunities and significantly OFF, populations for with believe potential that summary, expect from In the offers near has X meaningful for more We about impairment. GOCOVRI. top line we new the to are excited potential deliver fourth of Parkinson's

right SG&A ADS-XXXX, we With burn to over X on lives. our the expand need and We deferred cash the is our and Given patients' turn rate, and financial quarter use top believe build and extending will program runway. R&D This cash our to results. this on impact I'll the overall investment in priorities, the concentrate first the earlier-stage time discuss development to call to that, have shareholder value expense Alf us GOCOVRI's forward epilepsy. our levels path we will thereby reduce resources to in need give

Alfred Merriweather

paid on recognized The delivery approximate This sell-in of our for and Greg, call XXXX, upon in $XX.X to joining the QX recorded higher specialty net QX to prescriptions all plan the with of the new of X,XXX In Medicare in total to XXXX, insurance to hole Part quarter years, pharmacy. compared due fourth was to XXXX. quarter and was donut of D net GOCOVRI mentioned. revenue Greg number in as compared Thanks, first we today. our to related was quarter sales X,XXX first you thank the method, issues recorded product million. typically other Gross of

of quarter Regarding $XX XXXX, were compared our Cash $XX of $XXX.X the overall quarter XX, at approximately loss XXXX. were $X.XX investments was per compared as $X.XX use of for in the quarter XXXX. operating million March for million million. to the December million share results. Net XX, $XX.X first million to and $XXX.X or cash or Overall

operating our expenses. to Turning

We a deferral have in operations, by in the review of at ADS-XXXX relation our Based on our looked reducing particularly we're closely expense described our for of Greg. full spending, guidance the to program the year. investments

expenses first and For full reduced of the to of now $XX $XX year previous $XX R&D, which million in we million XXXX, be $XX million, million. million quarter $XX.X expect to between was from our guidance

$XXX million. reduced slightly is XXXX million, guidance guidance. our $XXX in SG&A for expenses million million and expect be Stock-based expected expected between our the compensation in with and which we full previous be is from now million, million million million, previous $XXX and from $XXX $XX.X SG&A, the be respectively, first $XXX our to $X resulting operating R&D XXXX to to expense year associated reduced $XXX of approximately in quarter, For million expenses to to $XX

million approximately So I'll progress million development compared excluding Rajiv operating on now $XXX compensation, total is million stock-based to on guidance comment and our previously. million recent the million $XX $XXX to between non-cash our for the of $XXX to pass presentation GOCOVRI. call and expenses $XXX to

Rajiv Patni

Thanks, patients of study good Alf, a the with III and baseline in of recent the preliminary MS we you the presenting MS III everyone. Meeting in related Parkinson's Neurology Philadelphia. GOCOVRI blinded, of and disease. to Phase XXXX walking Today, Annual study pooled, trial impairment design and ongoing as Academy well at would on I American presentation Phase in are afternoon, to ADS-XXXX update like our as demographics

walking patients any only is pivotal AMPYRA, there their walking There an with background speed; X MS, important MS. walking me III currently to Before or treat improve approximately different trials, patients XXX,XXX of during I walking Walking ways: about Hence, unmet address MS did go walking many two, as FDA-approved dalfampridine, number AMPYRA-treated in magnitude can MS. impairment, with in the impairment impairment fatigue, into a slow the to walking impairment increase treatment. study, in let issue provide in to as the manifest drug, about in Published need unlike Phase endurance. consistent three, double-blind of In not morning. one, experience sitting, need. XX% starting remains some patients a number day, and in speed or the with details turning; reduced constant throughout difficulty suggests walking standing that number a remains in opportunity data MS significant and distance

of prior on had III provide lost If a efficacy move the of AAN a events our each dalfampridine-naive effectiveness endpoint to Phase the endpoints walking dalfampridine. to who past. XX%; X-minute look the the Key and test. treatment speed reason in efficacy dalfampridine patient first of the initiate Go now Timed we from the prespecified increase dose previously-treated enrolled population walking and was: evidence Phase in at XXXX. no provide to two, of dalfampridine to and The this double-blind, to be of of dalfampridine the study levels fourth XX% today. primary a for mean one, secondary We study change number XX%. is the to of or a experienced for second the or dalfampridine-experienced of quarter We where least received III ADS-XXXX. placebo-controlled subjects demographics randomized, defined a readout subgroups is number in Let's baseline. support study analyses X-arm, walk discontinuation to forward This of study The include proportion presented trial responders as ADS-XXXX. speed, group, in trial responder baseline TUG, breadth entry pivotal the XX% a from MS from X approval. MS responding subgroup, poster both into real-world and in plan will in at this Approximately adverse hope In Up the baseline successful, in MS snapshot is

by the of change Among to their X-year might unpredictable constant, widen therapies. to replicate of the pivotal the decreased meaning therapies XXX had daily their change the effectively management was over study increase to had real-world dose patients dopaminergic GOCOVRI a double-blind the since milligrams in dose reducing ON progressed the for dopaminergic of increase, Before of who this our dose they glutamate in period, and to increased, in of XX% GOCOVRI or open-label treatment movement with period is, the time; XXX move beyond between amount XX% doing, that poster is, good experiencing two for the one second and I held of patients levodopa investigators region total Among background background was In that OFF. the dose the movement the placebo-controlled, of movement to disease, baseline recall that dyskinesia are dose. trials Parkinson's, committed with patients XX% dyskinesia Parkinson's Patients control, good brain was hyperactivity no disease. poor their trial so control, approximately the controls levodopa entire and their thought transitioning were work that and milligrams. at Unlike honeymoon this of dose expect experiencing a therapeutic dopaminergic window where GOCOVRI either took to mean have study levodopa patients had OFF. further the let's is meant AAN, episodes on Parkinson's

associated dyskinesia dose which the the not Importantly, increases measure with and worsening MDS-UPDRS OFF. IV a these levodopa of Part were score, of is

because This In units, OFF additional baseline to data, patients' suggest our been therapy the GOCOVRI poor GOCOVRI that previously with control therapeutic period, decreases driven control. analysis these neurologists by by since do was of honeymoon the score pivotal further GOCOVRI had their for this I when show therapy leaving findings, high. albeit addition widening turn OFF, will both good potentially therapy. fact, ability dyskinesia. in have dyskinesia they improved noteworthy Consistent beyond in to is Parkinson's movement to an that, both dopaminergic movement particularly patients and in an caution, dopaminergic with is back over We levodopa effective suggests reduces who their dose-limited adjunctive progressed Greg. dose of call longer so interpret patient the to the the increase window With enabled periods the this by X.X and their and already

Gregory Went

Thanks, Rajiv.

off most shareholders: GOCOVRI patient immediate patients additional potential increasing our GOCOVRI and a value building in summarize, and starts indication first quarter of the two So progress, to on advancing new focused we to are MS. drivers for

see patient Regarding GOCOVRI, refills and start at to drop overall continue starts of recovery in the persistence an we after driving XXXX. a growth excellent initial in new

up We GOCOVRI. that evolve disease and of continue physicians product on on can dyskinesia and the and to our OFF impact more patients speed to to the bring detrimental benefits have education Parkinson's

ADS-XXXX Operator? time-dependent biology number open that, to of would to look forward our walking, like to remain III the the line As fourth of committed year. CNS approach top of for and I the increasing bringing seeing quarter the disorders. of to patients benefits this And MS an Phase of our we call up this to We questions. study with results mission in with

Operator

[Operator Instructions].

Evercore comes Our first with ISI. Schimmer from question Josh

Joshua Schimmer

hopefully. questions, few a Or

and visibility fairly how quarter-over-quarter be growth the saw going forward versus might thinking growth First, can any about provide for the start the the in considering difference we that of you QX? March April into year, we minimal

Gregory Went

for I and question. thanks with to with we're go Josh, January the the in up patient don't on further able we But close can February, the beyond new into what provided. you start second side, reduction we the think making see any I quarter March. to reporting that pretty come were want

second good rebounded well. So primarily Rx into going as in quarter. the the nicely March by refills, with regards feel to growth we driven being And total that

So behind we got we've disruptions the think seasonal us.

Joshua Schimmer

estimate may patients converting free on the then what And to GOCOVRI timing you paying it. the customers? and that for obstacles what's Got are

Gregory Went

configured, - the as currently timing XX program, The for drug days. lasts free

So or as possible them, obviously, converting that we immediately look within forward to quickly as that. period after

Joshua Schimmer

not some fall to convert Is able therapy? there a may and think that reason to be off

Gregory Went

that them year in does we're last to is to order programs, lot so program hard It the like with GOCOVRI. obviously large, - we stay had but working people last that's year, onto that and our in patients go and occur keep And place really very GOCOVRI the GOCOVRI these our a by on with experience that on and possibility, types to there with get be it. on of and been through

Joshua Schimmer

Is seems couple have perspective? to more accurate that And then I'm if a it. from questions. least of in a might setting. that Got quick be I neurology common other your so, from And at what softness trend, seeing, QX the why be?

Gregory Went

other lot more this I I phone call than would think people to segments to there's know I, leave so a on who them intelligent it speculate.

Joshua Schimmer

you're reflects execution Okay. which And trading then than now position, your less cash - regarding concerns as the communication both as valuation, well opacity. your and

So what the latter? doing to you are address

Gregory Went

this we do and prescriptions, What now, gives, hold our to really total address to providing could forward, new our tracking of the calls. patient latter a these to in which starts we on call believe, is business. way investors our We're addition going

on and this and we it. with stay people on the hear when numbers, to patients'. on And really experience us to it. the continue to thing it track execute to the new we be to GOCOVRI product, former, experience, as need consistently to of just Because large, it, able quarter you're getting promise leads patients amazing to over by bring to in quarter see from you about have that the and focus as So quarter. just And on over GOCOVRI that of and physicians' we

Operator

question next comes SVB Goodman Marc from with our And Leerink.

Marc Goodman

questions. of Yes. Couple

to give about to certainly can And second in free last product how quarter, us question year, about the thinking is you actual for First, talk the what you're the program. gross it year? and of was the net a sense relative

this got targeting anything messaging been X was and you get the got kind physician, and the just the easy, going? right patient I is - you've any the this right of change. from has marketing just months feedback of Are that Is more the or more you helpful, physician X the you that like made got curious working. feeling the community to Have message, right ago? got you community it's changes? you in you altered now the a made there is if You focus or

Gregory Went

the why Marc. you GTN Thanks, don't Alf, first? tackle

Alfred Merriweather

to Marc, expecting we net, that really this Gross calendar we started a to low-XXs quarter range indication last of for third net, our gross we're high teens of year. articulating, an call, to give

That and and expect that exactly the third clear Greg then also reasons cetera, expected, and same. the in to have that's the we for pattern time last We we'd net into described, frame been donut QX some and was saw very QX, then low extent, over we in year. year, be would hole, of QX quarter. higher fourth potentially et the be the And gross that QX the fairly and in balance lower quarterly the where the to it to high pattern that

there. The but significant last going we specific wild will gross And year, we have impact range about if that then the some to year, that been we for any were so QX still reduced could this continues QX, would haven't donut potential to commentary net that pattern will still which forward. from the and teens that card as high would hasn't in and the QX, And for be contracting, point, hole. a QX there, talked additionally be to low-XXs. impact of likely factor

Gregory Went

roughly free days occurring changed trial let me have after your to was year Alf, starts and of - last of going see of time initial it has process number utilized, and free with put program XX and And - we been second feedback which had positive. been what in same that were how It's adjudication began one, to new the in last is the what to some we rates which take year. QX received being as the be to begun were it's program, go get thanks. conversion us Marc, to messaging. QX to paid end on up prescriptions. in the versus this part which the into the We in the same that. changes well allowed front number to The trial doing

has that they be the shown of carefully to and But persistence. at on we that stay date, end it's once looking go year. as to So we'll experience us, through get we GOCOVRI, part change, want our why made experience really just the of people the and great GOCOVRI, told

more year And our in any call. how neurologists on about doing working about from learnings OFF; adjustments. how we messaging. got how is and QHS, movement and the we're beyond are not and we're pretty loaded of was that talking last the we question last changes and talking answer dyskinesia talked well what the That to and to Your We well from been disorder the terms it last about resonating GOCOVRI specialists; talking community. about we're with has in dose locked

we campaign. So laid finished will really I'll are we're is here the coming executing are we an right quarter. patient upon based last to new with think last going have desperate to just who out what component we research important against up stably activating in a community be just the go-getter that, And now campaign off visible, of that patient year, therapy. need

Operator

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

Timothy Lugo

do think per were level of quarter. you X,XXX able that growth adding year, reach to of last again? think that So scripts be do you'll than you you hindsight, growth? And In more how

Gregory Went

everything the can treating was we of for return growth that dyskinesia we've has hold, growth. doing I a exceed with see have we point, excellent, there. that's through the you patients, a our be at Thank impact to that quarter. implemented, place, feel successful we what look what's their the can and that drive launch. market think And potentially And But take these we've we this to the going new on to that that. as got changes in and growth we're is during rate on OFF, start that question. - Tim, we X,XXX at And doing and the starting to the

Timothy Lugo

you're talk people directionally growth QX with and the growth. at pretty you so up you're in about surprised the hopefully, aren't of to putting least Can very about I terms quarter-over-quarter? QX clear Okay. numbers the think

will just for, However, prepared Or let's that sequentially, throughout moving to you're be is the forward something growth year you quarter-over-quarter not this to say, QX? talk seeing about? QX

Gregory Went

is navigated I guidance early of speaking We're very of overall lot pretty on these in working disruptions how was think drug. mean are through play not people too how going to. haven't and to we And And the very I new out. it's we front just going seasonal starts more producing of were any the I on of pleased what Tim, that to rest obviously given judgment We and to this keeping tell second the obviously, to - year make year. have in terms right with half we closely tactics monitoring data But are hard a call. year, that we're us the

Timothy Lugo

on is of of and any Okay. how the model opinion systems. distribution around the vilification discussion has almost this to are you What's now almost system? the how a And There it works through guess changed right and lot scrutiny I able of a And market broader current a question. therapy? specialty channel, pharma around pricing your your distribution

Gregory Went

great a that's question. Tim,

our - which back partners point and order a that the place and specialty to observations on with distribution that patients, have to the an experience in versus retail care experience distribution sure I a their the really think in ability with think I in to contact through to positive in has specialty they make do our a provide about last was was provide picking physicians anything model patients approach GOCOVRI. was changed of don't a model. positive really having a model year And regular seamless, a

our that's as what believe have us. that's result. And can as focus our really been we experience drives company - a a the about positive patients be to continue we So have from

Operator

question next with Piper David comes Amsellem our And Jaffray. from

David Amsellem

or is on So transparency question this and of first the opacity. flip theme expectations on side,

level gross knowing consider about or willing soft where are are over the edits volumes or for what net of that providing to trending, sense - if expectation awhile back. you a for some regarding sort all, soft mean your So you and to consider wanted to I be as expectation last at few you of guess hard withdrew GOCOVRI of expectation and payer stated a expectation, and it from soft know you landscape, question they've year the Second you'd is months? a the progresses? a sort get something is range? the I evolved, specifically And how I XXXX step

Gregory Went

Okay.

one. that. First a we we the coming question, provide last we're don't David, to - in an beginning any just more of is do of at this the to not out payer your we easy improve collect year, we given changes year to data significant we're No, to of guidance, our intend and the a that quarterly QX. prescriptions of need new on The made patient With to starts have quarters position But now you you changes before total from to need the end of of your quarter-over-quarter information have through of business, a and understanding landscape, basis. now. lot point, having a the right a seen I regard hope available right lot the numbers few us

continue any significant see them changes. really reimbursed by prescriptions There hasn't We prior see continue to covered, being we auth. a being been to

point with amantadine a not with a hard at treatment most tried have journey. So those their since imagine, experience typically auths levodopa which some in significant prior and of Parkinson's dyskinesia it number on is plans, are IR, prior to patients in people

launch we work significant at continue no payer the with. anticipated changes. to really So and It's landscape

Operator

Stacy question next from with and comes Ku And Company. Cowen our

Stacy Ku

I have two.

experience you competitors decide? patients are about far. your First, use your program free OSMOLEX before insight that I'm discussions generally are the it? many both patients reps into versus trying they the sales with have any and whether so wondering with And programs Are GOCOVRI GOCOVRI clinicians benefits the with sticking OSMOLEX? the of Do having GOCOVRI

Gregory Went

difficulties Stacy, you seasonal new that into an but based persistence. there, just range, just of think for in on can it. and I lot thanks we're see starts keeping to reported, And we're coming the the going pushback, numbers think we're upon we out It's comment question. on the the the eye maintaining it's the not the a whole We're obviously even getting I market. out patient of Great. OSMOLEX,

people staying numbers. any to modalities on So GOCOVRI who off GOCOVRI. are on not significant falling treatment They're other are in

we're So in market. whole down, a execute our eye host continuing competitors we're to keeping our we're on heads it, of keeping with the

Stacy Ku

sneak accounting in what go you just to a further is mind And comment, could what I persistence you if a your you you than do follow-up this last - clarify on long-term think us you think number. reminding I do can first, And Do XX%? be XX% rate? Okay. higher want for exactly good would think exactly attrition

Gregory Went

Yes.

world, open-label really So didn't I'll us, X to therapy a and the be some months. a given Parkinson's is then down flat of call. curves an studies including X on, a which in about of the and high gets shape the surprise any those months, market. precise. if quite X reported There real The This persistence that the GOCOVRI market, study is remain XX% who is percent in in represents relatively the patients XX% drop - number on in at initial that you these first data to persistence of It in in the study study. Rajiv today's the our in in plateau on the things

we're begin as cohorts standpoint. calls, delighted will really with we're what we Rajiv, persistence a data further subsequent from to additional on any...? So persistence and on report mature out seeing

Rajiv Patni

No.

in and what first over Greg to X that, other months is expected comorbidities as early XX% were and disease, the mentioned, because which led about mostly due time, you side the the Just seeing due to were the other that in underlying discontinuation, discontinuations progression effects informative, the but Parkinson's we're is in world. study commented what which that's real XX% ultimately of would of expect, that open-label because you to GOCOVRI,

Operator

comes next Mizuho. our question with from And Koffler Irina

Irina Koffler

calling reported was be OFF in just experienced you're quarter, versus on dyskinesias us and ON? you last prescribers? number about I qualitatively, to prescribers, you're think on more the X,XXX. physicians help provide And it of think the on you educated the of I need update that and that ones and number how think doing the Can an

Gregory Went

Well, in you try and all let of a them thank me bunch questions for there, those, to Irina. unpack

did or quarter, time, prescribers our we we call the think to on the November, what that. fourth report last were continued have number but the not on report of I call in at in the

and have prescribers was that We of docs updated a percentage some of number. not significant to gotten number that Parkinson's have

you So don't for today. that I have

different are In of physicians in terms versus like physicians that you adopting who we're terms GOCOVRI? of in would Rajiv, what are tackle experienced to types how of of the seeing not, impressions

Rajiv Patni

Yes.

one, calls, we're many dynamic there, this the remind and are treat on the who I we've are of patient not that they're commentary, our a is effects dyskinesia seeing they how physicians I've that the repeat that's opening use medicine seeing. in how used that's their both they on experienced, in the as because patients fueling the neurology treating what OFF. is population, only both real-world and then the and commented their to chronically, of these OFF, experienced stay community medications practices. have And visited, practices is In I to Greg's to GOCOVRI that and initially to are responding from think the seeing neurologists, able prior medicine got that in begun dopaminergic

that to if a trigger cohort. are them through initial medicine lift begins the dyskinesia this on then get And in OFF, patient's to and once trying that payer, population physicians their medicine that so to willing responding, education both for patient's that's in that's And this cohort the the But the continue other doing. were in able that benefit physician patients. see

Irina Koffler

doing still in epilepsy pause this next And table? sneak that it Is can or off year? considering maybe on on of a you're the I year the kind if program. that is And Okay. for follow-up

Gregory Went

in on moment Irina, growth and deferring down ourselves pause and the a It's to MS successful question. our allow approach to the those be with to in thanks really, X other continue time right But such we to we priorities: through in GOCOVRI's it our focus evaluate opportunities point are launch Parkinson's for priorities the success achieved time-dependent the and that able commercial we when we're and have program. what road. that got immediate we really, get bring the the a immediate we the at be to will hand At and XXXX, on now. to evaluate to can efforts, fuel we've

Operator

Belanger & from Serge Company. next with question our Needham And comes

Tian Sun

for on about question just III INROADS This a had Phase trial. is the Serge. Tian I

be primary saw In That wasn't XXX included? the endpoint, assessing then terms that of the similar I the based also when are start? first you trial terms the that's the planning that trial dose, earlier. clear design? would a plan are second run, to And abstract trial going the to it or have on only also is you you XXX of in to And milligram do

Gregory Went

handle will of Rajiv both those.

Rajiv Patni

and end analysis question, our your both testing are based our have it's a the meeting, statistical when plan approach on be to pivotal, going Phase we doses. yes, in And as analysis So for, first we'll you plan per of II two typical hierarchically. doses

in in second pivotal, that Question size question that one. because see very So pivotal, the to it That's data that we'll second prespecified will by have we informed pivotal typical. of pivotal. it's XXXX, largely two, answer the first all and about design properly design second be to would what we and start and the

Tian Sun

also open-label Got have it. Is another And that... you extension. Okay.

Rajiv Patni

So yes.

is you sNDA. can trial pivotal a for to long-term the data imagine safety for program, extension an generate As potential there

open-label placebo-controlled enter successfully that patients extension is trial, if trial, this have ongoing. an we And complete it they the open-label consent, they So extension.

Operator

Instructions]. [Operator

from with comes Jason JMP Securities. question next Our Butler

Jason Butler

of a I follow-up had XXXX on then GOCOVRI. questions couple on quick a and

view has - changed for point? priority your partner for the program? that this to partnerships level Or about at of how that think is or willingness So your program on what XXXX, potential you

Gregory Went

in prioritization the XXXX XXXX a be to and for as remains to clearly, The value remains go of great VIMPAT, and look to believe is the into program to therapeutic potential area. regard decision. of we road this and us could a with terms we epilepsy add-on expand Jason, which superiority a down the as

that with partnering companies in we period as time. we open this So remain certainly space would go to and interested of through

Jason Butler

current this we And terms that start coverage? should should think - for the earlier, - expectations how care think Okay. your trial patients into trial? going that of the forward? on and How free free And but if then I how about Great. on apologies the GOCOVRI, missed does in we play trend in about managed

Gregory Went

is obviously, converting as have able to is form, idea of on growth both to over. succeeding to that trial from settle - have Well, actually I'd starts And somebody - the going on we we too we'll numbers a well better judge, judging total patients say it's and prescriptions, for as treatment that outcome a GOCOVRI. but well free in a will new which of outcome goal information converting numbers quarter-over-quarter the convert future onto the former, submitting to And the monitor as early prescriptions. on receiving our of paid providing is how TRx, down, be people be you calls

Jason Butler

Okay. meds about managing And Can as and or question. GOCOVRI patient's how treated last with to physicians data any are you they're then including just have speak L-dopa? Great. a other you information

Gregory Went

hand to Rajiv. that going I'm So to

reiterate of to some want may made You you the earlier. points

Rajiv Patni

that the of the treatment, the say or namely patients good are dyskinesia best earlier to the because my was disorder widening community, And this to principle which I'd to core deems enabling back permissible neurologic this control, not modify it real finding he to reiterate are they I'd increased, movement earlier comment goes we expert poor and well-accepted that refer easier of set just plays to that saw complications the into change how anecdotally, background question, an our levodopa. background at dose was the and movement remains so and how hearing dose was levodopa What neurology she And with OFF. world, of is years can community, it's amongst that is GOCOVRI and to one, about about the the treatment, dose the prepared we X of their had now which of you therapy. And as widened comments, of modify to OFF levodopa really and levodopa AAN, dyskinesia, time, both changes my that, their side dopaminergic dose had well a to medications. you levodopa to the is view only the upper is, about lower evidence X/X the actually window as you And the that No. window the means of pane decreased about widen treating GOCOVRI in XX% had think the X/X pre-GOCOVRI, again, can therapeutic Because of that our no window pre-GOCOVRI, in presented by the about poster our completed view, GOCOVRI inappropriate. one window. dose. that as pane question window, the of the chronic the yesterday as

Operator

the Thank like showing would any now any you. closing I'm over Went for time. Greg not to further at to call I turn back this questions remarks.

Gregory Went

for We on at August to we very look us. continuing to conferences your So report have another and progress forward everyone quarter thank get and to Thanks you upcoming you time. behind as seeing much. our

Operator

thank Ladies for and conference. in program, today's wonderful day. gentlemen, may conclude today's and This you all have Everyone, participating does a you disconnect.

Adamas Pharmaceuticals (ADMS) 9 May 192019 Q1 Earnings call transcript