SUPN - Earnings call transcript Q2 2019 | Supernus Pharmaceuticals, Inc.

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Operator

Good day. Good morning, ladies and gentlemen, and welcome to the Supernus Pharmaceuticals Second Quarter 2019 Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time.

As a reminder, this call is being recorded.

to Investor call Relations like Vozzo to now Westwicke, of for would turn over the Peter I Supernus Pharmaceuticals.

begin. may You

Peter Vozzo

Thank call. results. company Yesterday, issued and everyone, the close today second Good press market, for after XXXX Sara. the the quarter conference us Pharmaceuticals for release thank results financial a of joining Supernus you, you morning, announcing these

and today call Supernus’ Chief Khattar; with Jack Patrick. Greg me are Chief the Officer, On Officer, Financial Executive

questions. we’ll management, open to the by remarks call Following

such of section management These the similar those XXXX uncertainties, perspective call, and certain anticipate, the and reflect and in statements course forward-looking are such identified of make the involve performance these and During from can current events Factors not regarding including this by may, Annual information these future may on believes, words XX-K. words meaning. company’s forward-looking projected forward-looking should, Risk guarantees of may and on statements. trends Supernus’ the statements Actual of the other results forward-looking Form differ risks and as intend, future materially be will, existing Report expect, company’s performance. future noted in statements plan, Any

recent who may press except any securities current additional announcements and obligation company may this have most the statements of these relating to Please of recorded releases update by as forward-looking company’s the time. topics then, the with listening XXXX Eastern applicable Since those For the is Supernus to the discussed. laws. filings at to required made the SEC. X, benefit replay, declines reference being August be you call on and held X:XX A.M.

over the to turn now Jack. will call I

Jack Khattar

same Trokendi time X.X% XXXX, us to and everyone, Oxtellar XXX,XXX a in Peter. for increase taking second by prescriptions, the for we our to the last XR prescriptions IMS, as year. results. Good period discuss you, thanks and second quarter XXXX over reported quarter increased Thank XR of join Product as morning, the

over quarter quarter which prescriptions year. improved same following for X.X%. quarterly quarterly the second X.X%, of Sequential XXXX For Trokendi quarter to XR X.X% were second prescriptions in XXX,XXX, first the sequential last decline quarter Trokendi XR, the in in of increase was a the growth

growth the of However, rebound we and the expected XXXX; as enough second, sequential recover the in the weakness in as first was from as of months and not the this overall we XXXX. six not first, quarter first experienced softness market to seasonal in topiramate in fast

topiramate was impact from recovery quarter total slower the this prescriptions share the in first Similarly, previous than year of market seasonal years. on market

on based by example, in For IMS data quarter typical in monthly end quarter decline first of share had in XXXX, from the XR the the seasonal share March. market Trokendi recovered market

is in June, had before first product This only year, on hand, expected decline. data available July and on through X.XX% based the the share quarter to market the have for recovered other the that we seasonal

factors, revising operating first our instead addition, manage XXXX improved second infrastructure the lesser have and relatively In expenses. full-year we a for earnings, operating these Because flat. of the in had expected of XXXX we deductions XXXX, remained as the relative to have sales of not quarter to and net extent are our and to we able guidance sales leverage to are continue as product quarter

XX,XXX, brand. the momentum six The behind look supporting months healthy of in prescription XX% of forward second seizures force prescriptions the to on were continues representing year Oxtellar partial of increase an the this to level first over quarter, focus sales For trend the period same year. of by We for increased Oxtellar the is XR launch well. XR, of Oxtellar the monotherapy a our the go XR. last indication In continuing

treatment novel and of meeting with In the submit to now clinical remain year. in pipeline. this track we on completed July, second-half Moving SPN-XXX, FDA our our ADHD pre-NDA for the our for to the NDA

the if SPN-XXX preparations potential of launch of second-half well. Our XXXX, a approved plans continue by for and in to the progress FDA,

addition, in year. program adult III the a patients in of In with this SPN-XXX quarter plan Phase fourth start we to

in our ADHD, novel of SPN-XXX, enrollment trial pediatric XXX Phase For treatment III impulsive the is patients aggression with study complete. in

from in in data Phase expect the continues We XXXX. quarter this the its XXX fourth data in of quarter Enrollment expected first trial III of the trial year. with

SPN-XXX. not impact expected the to the change of for is of filing submission This NDA

NDA continue second-half in drug and launch an second-half the the in of to approval for the expect We SPN-XXX the to FDA to of pending submit XXXX. XXXX by

commence of treatment expect the quarter fourth to year. this III disorder, program we for Phase SPN-XXX Regarding the bipolar of in the

activity our psychiatry we assets as fit that our neurology look continues, corporate and the current strategic a Finally, portfolio. for on represent development with side

I’ll more financial now over Greg, to who the quarter on will details second call turn provide performance. our

Gregory Patrick

Jack, Thanks, morning, and good everyone.

press quarter financial second to issued our yesterday’s review to results, I the release XXXX market the I after results As closed. in remind second quarter listeners refer

product second is XXXX quarter were $XXX.X for X.X% increase million, the XXXX XR the quarter Net the second Total higher recorded which XXXX. Trokendi for of $XX million, an the of of for million versus of $XX.X sales quarter the XXXX. than revenue second was quarter of in X.X% second

second as the For quarter of increase, Oxtellar product a to XR, of net second million, compared sales XXXX quarter XX.X% $XX.X the XXXX. in were

$XXX.X XXXX million, $XX $X.X of of of of Total in of licensing product million, royalty and was the to million million second revenue product net of compared quarter as sales of sales million and second revenue revenue revenue $X.X the quarter royalty of net for $X.X XXXX. comprised

clinical second to $XX million the prior compared of trials for our same early the primarily by quarter upcoming million SPN-XXX Phase development NDA in manufacture SPN-XXX to as in and to $XX III is year. to partially the to filing. the This late decrease and costs completion attributable quarter the now Turning in Research in the XXXX were expenses. four offset XXXX, support XXXX, of expenses

the quarter to second in same XXXX last were of quarter equivalent essentially year. million, in administrative the $XX.X and Selling, million $XX expenses general the

second $XX For earnings operating totaled in period increase XX.X% XXXX, over quarter million the $XX.X million, a last the same of year.

company’s which expenses infrastructure. sales, and company. constitutes than by the ability faster increased This established the operating for demonstrating grew X.X%, product a our leverage record manage earnings net to Operating

fact, million. this first quarter have which the exceeded in is our earnings $XX In

period. higher quarter of net to XXXX, the tax in offset $XX.X XXXX $XX.X the share, $X.XX second earnings, $X.XX earnings per by driven the Growth year. to compared in period earnings Net the or primarily or million, higher quarter million, in of last partially the second earlier rate compared were per diluted diluted share in was effective by operating as same year

second of the benefited year exercising employees lower in quarter last was this than materially quarter The rate stock and from second options, year. effective the the tax rate of rate in the

XXXX of million in securities long-term with December equivalents, of marketable We XXXX. ended to the and cash, $XXX.X securities, an XX, increase million second compared marketable as $XXX.X cash million, as of quarter $XX.X

for guidance XXXX. financial to Turning full-year

As of Jack million, expenses product expected guidance expect effective and mentioned, to we’re expectations the previously the earnings, $XXX net for million. as We for product million revising million tax operating range sales sales now R&D $XXX compared to net and rate. range our to $XXX to $XXX while reaffirming from

$XXX We effective million tax to remains expenses to of for XX% range as to to million, previously now million. XX% R&D the million from the compared unchanged. expect from to $XXX Guidance to million. to $XXX range rate continue expect $XX $XXX million expected to operating earnings We $XX range

I’ll for now back turn questions. to call the the operator

Operator

questions. Instructions] you. you the [Operator and if limit question follow-up feel please queue to free request Thank reenter We further have and you yourself one that then one to

comes from question the Our first Ken line Company. with Cacciatore Cowen and of

line Your is now open.

Ken Cacciatore

question. guys, taking Hey, for the thanks

XXXX into then both look to from from a positive and modeling a preparation wanted Just potentially perspective.

generally we’re extent hopeful and Can growth and market, the you we spending on think about a prepare from speaking next as augmenting what could year, certain we P&L obviously, with that XXX flattening perspective likely have coming with So, Trokendi to the just us we could of XXX? a Oxtellar portfolio but up. be

marketplace. on then be talk But it. lot us you on bit Jack, there more, in the a to evaluations little And seems BD, corrective there you can of to out a touched just

improving you a rehabilitate maybe and that, just a we are those kind think like should company if and of for Thank as the some like And wayside at launched you? to the the environments have failed assets some is look assets wondering, so products then or the of experienced for companies have you. way that gone launches, by you of and

Gregory Patrick

and Okay. talk sales. Ken, off, about is this With back product when to we to expenses next year, Hi, Greg respect about net Patrick we circle can and then speaking. start talk

Day Investor with a consistent From – will marketing manner an sales we around that, expenses, for to our Supernus with SPN-XXX, somewhere earlier year, sales launch clearly sales we be ought in and described very that. Investor or is a force expense standpoint, a about be out our XXX year force going commensurate Anticipation be we’re our for excited build this at to will with that. reps, Relations which that this

ought clearly the that we way to year since about expense it to launched from needs it an launch. been So a launched, have a the about in be we’ve been the which with speaking in we’re that launch talking be and to product standpoint, going be strong will and effort

to from say, the the it launched As not be going reimbursement regards SPN-XXX would much heavily but results. we’ll forward. with where little respect frankly, company’s expect And since year, the sales, coverage. a get material of go closer. will bit to for there, that be in we This net about and one back would terms on think SPN-XXX, managed we contribution And end also as the I product be of will as that timing-driven, very be driven towards it will we’ll that that’s investors to care something by quite more update we be stand is

fourth our With the of I $XXX adjustment remove correct, guidance has would to $XX million. for the to And to quarter same million this closer million is think to to way if last guidance, been frame the made respect to XXXX’s and $XX products, from $XXX you build-up XXXX $XXX to next a XXXX, to be existing look in inventory year in year the results build-up if you’re inventory million. million year our forward

So $XXX million. that by million, up to $XX I’ll bump just let’s to million say, $XXX

sales expect million. trajectory, I of next would something, if you trend inconsistent in of It’s that the trend. look line the progression but I kind if – that. be not with which too $XXX year think to really million, really corrected that it’s with would early pick I that to $XXX think be with at So we range to too And midpoint speculate,

Jack Khattar

I mean, product, but declining as me the a trends. growth continues Oxtellar Yes, growing down. healthy is clearly, XR is not far as growth Trokendi let a show also and that to It’s add. XR, product. slowing

of months year. six it at So clearly, look and is facing. up actually for that’s product good facing X% year-to-date, the mean, for first year pretty you competition versus a old are the last when that years prescriptions the that is seven I

had We much versus year steeply had previous of I the prepared in a as the hole my decline year. this decline in as quarter because the also, mentioned second remarks, results first quarter as in quarter did this we decline we didn’t years first the steep they deeper

recover a So much second deeper come and years. we the from in than we quarter to had hole in previous out had of

the Trokendi happy So transcripts XR to like people to Trokendi in how several call X% listeners sure the in expect quarter-to-date I showing with X% it in I I’m you remember said, the third some something quarter-to-quarter, I this future? where also between growth which perspective, we’ll X% quarter, previous will XR in be asked quarterly to in the and think this. on general, grow keep X%, us to mean, would

I Trokendi So if we go fine as norm, be well. will that think, XR back to

the evaluations. all been As yes, corrections has Ken, as launches, there probably have people gone obviously, and far corrections there companies business out as some as development, in of expected. well some I not certain have agree we’re some seeing the

intensely the see really involved is very and in do be the to that it don’t I at anything situations improving want are particular we yes. continue and on to specific perspective looking we environment So and like too answer be but too very from diligently. We this, names or

Ken Cacciatore

much. so Thanks

Operator

Thank you.

Our Annabel Samimy next from line question with Stifel. comes the of

line Your open. now is

Annabel Samimy

Hi. Thanks for my taking question.

Trokendi on So trajectory granularity forward. going understand just to more your get a little and

mentioned in You deductions contracting. as as higher market topiramate well rebates,

years? rebates of that into the continue point, going first versus much you’re next forward the is on increased climbing essentially and it of So hole out that could maybe the how

out that why contraction essentially on single-digit I conversion part with mean And should guess, wonders Does you’re in topiramate you’ve tapped market, that how of big molecule? still that matter, penetrated the that the given market? molecule that of of regardless that only of that

the second just the to a then to first I but curious see Why one more I than now? completed, trial. more quarter? little continuation struggling on trial in one I’m it Thank you’d that release I enrollment. think complete you’re enroll get question can complete, questions, after a finished, to guess, would And the still rather and acceleration the switch an a if that’s I trial, I that? fourth why not little if is that’s could It enrollment more was And SPN-XXX. on you. we presumably understanding of wait why guess, though. lot around until of guess,

Jack Khattar

sure. Yes,

flat XQ didn’t start it’s me rebates just to clarify, up with the versus versus basically the said Let XQ. deductions, the we that go

we quarter, extent, it it would factors the net other that that actually it. have it to happen to caused would a expected than And gross other the the were occurred just within we there to like to bit taper off flat. same typically, didn’t be second little Now, rebates in

it rebates the do So always mean, the here. had. year. major, expect I the really that’s major were wasn’t issue to that pattern rest the we’ve of slightly We for normal improve it

still the that contraction we of times of have numerous we we still absolutely is that you’re we right. we to And fairly and As far could believe and – share of our that market, lot said there have small market slow, as a convert. business out continue the topiramate

just declined market. market X%, But we And forecast X% little citing only in if people the I the was when X% that the it the a keep the that That’s it to aware cited market. the went actually and in fact sales, that And translate I is it. a is comments our in of with by X that that you a difference by into And my bit point have our a growth reason take only shrunk number. net the market fact naturally, our not down, small was of reason the market. just share business

fairly percentages, But when believe a is you’re you’re themselves, they to numbers terms X%, and the for continue stable to that we or stable. us. still the in market is X%, net to change do But meaningful minus relative sales it small numbers correct, the comes plus in the that of translate

talked itself to nothing take as benefits even CGRPs. delivers – the behind fundamentals lot sufferers immediate will has here release we a prescriptions of things into still even expansion compared Trokendi market. But migraine So as and time can market continue far we as have the to the of will out, topiramate beyond have product to time believe to as that far we convert changed the about XR, the the coming play product

like not this eventually fast to hoped well, will believe maybe as would we as coming will continue us it’s we benefit have or would We as but ourselves.

the right you As we back said six to that far now? are for take continue original doing just what we’re can XXX, we with actually achieved to trial that let its five, as at clarify open to and trial XXX it ago the enrollment, months to happened keep SPN-XXX, me what it. months going up enrollment And so time, XXX dates about ago. have six catch has

each about the just trial the was the was two. of XXX behind trial have And different start trials few also difference trials And the XXX period of time between about was sites. that that the months these

will XXX. XXX continues don’t XXX study up, but better bit trail behind actually that has a the the And much. have XXX So little were it trial hoping happens as to the the that we catch sites faster, or control sites enrolled we trial

we’re you. soon Because made let’s make for just during need said, have to we done what, decisions as we have what that the far operational we other on the with API as can.” stop data XXX, and we company to “You preparing know, the get decision, as enrollment as production a as we the So also have we or

lack front or to data these bit it us, makes don’t data difficult. little the that more as a have So continues decisions of we in

only made and right have the now. So the of trial you that’s up will come data the open up clean And it of the database, quarter this you you it trial, the lock fourth in decision why the why in, XXX trial. can year, the is open that’s we patient this up, we out last until to don’t

next therefore, mean, getting about talking And we’re this which we’ll the or another get we’ve early another we finish mean, zero probably there, XXX XX we’re actually some too I six months results specific. enrollment where trial, not completion, and I have somewhere bit have we need potentially patients, we we is XX have had be little year, left. patients year. far around But enrolled, months, it’s I the from and still mean, could XX really XX enrolled. we the maybe patients a more here. patients not to

control don’t really we So pattern. the

We’re trying XXX this here. first we little last to the cautious But for the a even it did, if we on got get as in on data we study, year be quarter. example, the do bit

So also still first data we XXX second-half in the of to of on next submit NDA the get will the SPN-XXX if be able in we the XXXX. quarter year,

get progress the and we the sequence events made we occurred there. the did really data out that the decision opening or recently and XXX that’s So why up the trial of and

Annabel Samimy

Great. Thank you.

Operator

you. Thank

Our Koffler next Irina with from question of Mizuho. comes the line

open. Your line now is

Irina Koffler

or are patients stimulants And help wanted us in anti-psychotics? any these are naive Thanks have Hi. you understand, they to How anti-psychotic on ones study? been enrolling my these how they’ve I trial, in utilization again, your questions. were? fairly long before they with severe to to before did focus taking for SPN-XXX. your Can kids came treated

Jack Khattar

a these yes. answer even patients is, of are treat to things a lot actually, ADHD. the Yes. aggression lot used themselves of are I that off-label. brought the the that patients, for is These simple market These things on as today, off-label impulsive mean, the are stimulants

what work with initially in if it some only – to try also stimulant physicians And the aggression tried to temporary. could to that patients So that and work, titrate doesn’t the with lot is down tamper does play very around do them. and with patients work of dose is the a of behavior, it’s

step, forth. as anti-psychotics, like and a they second resolve so therefore, to And things

So the answer is yes.

kind mean, I sedatives Our have been control have on the these trials to all do aggression. who patients agents antidepressants, use people site anti-psychotics, of

of period is ADHD, and from that’s And not it’s to actually these the medications, an keep the part component out ADHD aggressive be designed to treat to the designed symptoms except to treat their watch treatment these required enrollment ADHD ADHD which screening the SPN-XXX to their behavior. patients to is control, of because all impulsive why add-on is medication, the

Irina Koffler

timing Okay, out adolescent have looks you that’s clinicaltrials.gov, Also, you like the study the that’s read on you or helpful. update us the doesn’t at the end that adolescent expected if it’s two with XXX And which that possible would to study? of be work, study? XXX on, your this NDA it one to supplement year. Can of going is on of able it your

Jack Khattar

that Yes, the enroll. continues for – referring to is to sure. we this and last have It year. XXX started trial is The study you’re adolescent, it

enrollment year. We through to expect that actually next continue

pediatric. we’ve data enough surprise the the year, with had it before way for unless recruitment faster us than is So and next it experienced really

and with the supportive this NDA, look Now, the trial FDA and as the we for indication. adolescence, the forth, approach at will this at pediatric And tolerability trial in XXX so as from safety, not our adolescent that be clinical taking is submitting perspective. point the we NDA therefore, indication, regarding a we’re

NDA study whatever in will submission and part learned the observed as from for and we tolerability. So is we’ve XXX just pediatric safety the our a include of

that the data has the use they and So in FDA some adolescent population.

an could trial really we seek we later for an sNDA. on, adolescent later the of on treatment and on as the submit indication And as it later completes

this the strategy taking we’re at point. that’s So

the believe submission we why for don’t our population. pediatric delay that’s should So it really NDA

Irina Koffler

Thank you Okay. much. very

Operator

Thank you.

comes Steinberg the Jefferies. line of next question Our from with David

line now open. is Your

David Steinberg

questions. Thanks. Three

you you whether use or rolled you second said it I you back assistance copay QX, quarter? was the know use in in QX. I wondering in that First, if

I’ll XXX? little question. second-half Secondly, one could timing know answer of you more you window. of pretty give a the NDA us Jack, granularity, on And wide other the think of that’s said year, I after this the for the you

Gregory Patrick

month copay the is to Hi, the respect quarter. question to then David, a And that the back later rolled levels reimbursement actually the has Greg. on that during – rest in March, in continues the than actually it’s It’s first higher first early of year. two. February, for or level the this about no rolled it With back for got program, the

has a both What the plus second of and is quarter run our that first past history higher than that, has and overall indicated quarter have would the fact in our happened expectations bit utilization the indicated. the program

March that’s but is a from program and little have forward, the has expected. heavier on we it actually bit So seen from historically, than where been standpoint, than a heavier little we a bit utilization

Jack Khattar

the XXX would get hard early the regarding we’re and quarter pretty this for working fourth in the timing us, can as year. expect mean, I as we NDA, as to of Yes, it you

December because, Ideally, do next clearly, of launch make course, launch an want year, looking at announcement we’re we the when you year. school make it the trying the product. to So in to quarter. at We And filing, around the we’re we – we’re will earlier here. looking also not

fourth we’re that’s the early quarter. So as possible have working why as pretty in hard to it

David Steinberg

my question Right. your third on cash balance. And is

up You keep cash. building

do that. how but You’ve been growth that valuations curious, anything. buybacks? would have fairly just thing think perhaps about reluctant don’t I you high, that’s I companies do. prudent share – to the know typically know, buy to I’m been

hand, that you other consider is Thanks. stock On going given something your forward? is, the where

Jack Khattar

the the the are we I answer is company use a on other buyback. quick actually and and opportunities in action, growing bringing cash, you and our company mean, growth – from probably enough as quickly First, share outside. to the said, we intent

question valuations the speak, as the transactions, Ken these actually, to a zip more bit code, – far there so the to as a as at little first and that intensity is good getting as chance. potential reasonable mean, far our Given of looking nature asked I

We back that activities, that. growth cash in share it’s using is buyback like dividends to and for the or that’s not anything use give up to external will it for that what end it or

David Steinberg

there’s to you safe force chance your year? that something good say next would buy moves a launching it Is before XXX sales action into

Jack Khattar

It’s really and hard the own finding launch But the very have if to will distract or either in sure we very, from the do business. we’ll that stand something, overlap predict synergies make area us doesn’t to its specifically. that and obviously, we find of the SPN-XXX. It a will in infrastructure on different benefits

distract we sure do not anything SPN-XXX. will launch So it does make our of

David Steinberg

Thanks.

Operator

Thank you.

next comes of Capital. from with Trucchio question the line Patrick Our Berenberg

open. now is line Your

Patrick Trucchio

Hi. Good morning.

I’m And the trends at $XXX XXX. existing on epilepsy dynamics migraine you if follow-ups discussed of the products. and for Trokendi I and few you regarding wondering, revenue, a Oxtellar have the payer alter what your and potential? prescription least for question view us peak timeframe million. this the can First morning peak Then is and for remind potential this

Gregory Patrick

peak million that going certain to On of Patrick, but of the same times Because Trokendi Oxtellar couple it’s a XR later. $XXX at I XR is in the – much year, is the as happen Yes. mentioned not year, of peak peak the before, potential, right? of

will products that not hit to it’s peak. going that like, fiscal happen the it’s So both same year in

two way, or go for far of the these look and that $XXX so XXXX, as that generated this products peak, you with course, XR, bipolar Oxtellar by it believe as when revenue combined absolutely, going even million potentially still at because company we than to more forth. more, to is So is

been years. it where, of recovery prescription as really the growth. XR levels that’s that kind in for Trokendi course, well as of far to hope and around will we’ve making point, market as as seen is the And, the that Trokendi the this at continue that’s that, will our continue obviously, stabilize we’ve remark over So itself the XR,

Patrick Trucchio

are that’s be seven Secondly, this behaviors the how are improvement? you aggressive any Thirdly, in fit you paradigm data comparable to to there us the aggressive clinically expected days is frequency relative a can in can with III us of XXX relevant the tell IA finally, would too? what impulsive release XXX And behaviors, fourth ADHD? Phase the regarding defined? treatment of for impulsive frequency benchmark considered behaviors So how quarter aggressive tell for expected impulsive for placebo of to studies year, being

Jack Khattar

Yes.

if Let cover them. me see all I can of

As placebo. these far period as frequency versus the endpoint, number the – the XX-day it’s episodes of the number is change episodes, of of the that during and frequency which these episodes the of in the

we So as is long as placebo separate significance successful. fraud the view, obviously, considered from the from statistical point of

XX% if perspective, and memory if me general, of serves you this thing. In clinical I’m well. a my improvement if not is kind the study, rule XX%, look very of between really a and mistaken, thumb From at Phase IIb we an had

XX% Phase the medium low improvement somewhere clinicians and is we XX% to into would be back versus somewhere, an XX% that clinically, IIb or on it’s the So a you got dose tell meaningful baseline of And signal. higher the study, when in dose. the something

study, we in to saw be, it something itself, we as the the a have placebo the of IIb meaningful. obviously, success the has what with Phase compared what we we’ll course, III think as the in still with hope, arm And far trial to are of Phase shows. again, So would study consistent that be

drugs today, just not any to exists impulsive patients. scramble actually They show as around use that not no that I they And today, paradigm in aggression. any earlier, of are a will and treat of the data whatsoever and proven to there treat aggression physicians the benefit for being to XXX designed mentioned lot treatment as who meaningful are the as impulsive used – then these have was off-label to fit how are try far different agents

a do aggression, of they on it’s and short-term goes then away, working not very as impulsive and them, would lot reaction temporary, really they’re SPN-XXX. it’s quick If very because a the it drug to

treatment. first-line It with would Phase we clearly, process be product the studied, be clinically data III developed look will So ever right hopefully. good through way regulatory only the for to the the SPN-XXX

find and this is gets actually explain well quarter for it’s can of we’ll for if means good this these feeding approved, And, a with And them product next else nothing that out in course, is how condition. approved actually to promote patients the data. ever the to we that it treat that works physicians product and impulsive aggression designed

all all issues changes, clearly So treatment should and different have kinds to metabolic that other children the the any hormone anti-psychotics because the they from the be these choice be weight that of any gain, to prolactin historically. major these for actually, would SPN-XXX issues of when choice, – shown have they these the children, of treatment these cause product, for we was of other agents of given and specially molindone all are same our which shown levels hadn’t where children, increases agents,

product So this for this the all we’re is it the very be condition. for very, really designed marketplace, to product how play. can that excited can that treat And about role and actually obviously positioned once in and

Patrick Trucchio

That’s very much. you helpful. Thank

Operator

from Thank David with you. [Operator Instructions] Jaffray. the of Our Piper next question line comes Amsellem

open. now is line Your

David Amsellem

Thanks.

question Oxtellar. a had of – I questions So on couple

able we’ve doesn’t monotherapy on seen expansion? the inflection be regarding result that or label in of thoughts do any all growth like So to that of inflection It much what has look And to your terms think wanted get label of there. going you a you’re get significant as expansion? happened to kind

So there? process understand your thought help us

bipolar that regarding of given regarding sites overall product? sodium expansion label further channel get these you looking help understand do access and landscape thought usage in a the payer just your bipolar, ahead, bipolar, us blockers Thanks. in for then eventually And process to the

Jack Khattar

Yes, sure.

For launching the question, the say to monotherapy, did that as recall, everybody but as people. we same not have are far the going we the point would first as monotherapy, of it’s inflection

way back XR. So migraine XXXX with in under Trokendi

way at us area growth. an a steady we this to look continue very in us the the growth is So give to consistent monotherapy, for

is the say, again, that for would growing by space. remarkable is seventh area competitive eighth its or very I product, year, prescriptions into And real in epilepsy a XX% pretty in a in that

we’ve a what gave support of attention we in product It’s six the we months. with the we’ve So force sales it that it only gave far. with six this first seen extra into in college so months read the and and the it launch that

So continue to be we optimistic.

you’re you the You’re not what growth to, which a that’s slow stick point, rates, months. be anything hockey consistent been going an has to I going or like this. past very But understand six case higher in if and towards the see inflection like migration to see referring will

indication typical with as that lot of as As of quarter time that in the witness this we we did is that And the if that remember, Oxtellar a the of in actually monotherapy XR year, space. actually a launching is you at that believe the well brands are first not decline well. part fact

is As far be and difficult mean, the as payer course, landscape, the continues bipolar, to of yes, I a difficult.

other agents versus the of some be with course, the Phase to that for first what it will controlled oxcarbazepine to there. data release the the generate be bipolar. differentiation and speaks the is Of will – the out the clear for day approved all of really III at It end we have

difference will profile have epilepsy benefits patients remarkable they lot with the the the example. as as seeing we that that of in definitely oxcarbazepine for the a patients effects and side apply tolerability release, of as today immediate bipolar and well, for the Some see far

a an population. translate patient, benefits we those expect well as you’re them patient or epileptic whether bipolar to bipolar the into So

David Amsellem

Thank you.

Operator

Thank you.

have We for time question. one last

comes Janney. line question Hong of with Esther from as last Our the

Your line is now open.

Esther Hong

question. taking my Thanks Hi. for

SPN-XXX, expectation, launch demonstrated regarding data week. of a quick is action from about a SPN-XXX on So onset

longer believe maybe building products? launch on given the then driven that are flip through first-line stimulants So therapy, expected, recommended And word-of-mouth higher by as and do can we would Thanks. be a parents stronger demand between be with side, normally will educating expect than – than other you physicians? hurdle a a physicians

Jack Khattar

I’ll question the the next start question. I second as into lead with

so in obviously, As forth. typically are the paradigms and what general, these far as of are physicians lot well very a educated, ADHD stimulants, treatment about non-stimulants, products,

out, educate profile that’s this expect physicians far uniqueness product of actually as on as pointed as shake and of we with that that the However, fast and continue them action. the onset we before. where to you around specifically, and to data KOL, XXX and XXX they we continue is share that the as believe XXX we haven’t paradigm option what product, to had see an the them excitement from give And do the this of to

with that to they non-stimulant historically struggle and a seen From continue they there. haven’t really Strattera out products like

the it So our as don’t patients. specifically for differentiation only at need changer it Day not well, these in game you Investor – look not all actually but as has, titrate it given these for patients, patients, works, the quick – out all at real and quickly we how of the pointed because works, certainly trouble with this physician it’s many, the product to of to meaningful XXX many many clear be it’s how we for even a

give are going really need they week, you to The the XXX weeks. not. whether working product milligram, experienced a know. or They in child that to historically. wait milligram don’t to don’t you five, before normally start They Strattera parents used they’ve even the So will XXX know it’s titrate with to the first six have

So how options different actually, current These work, very easy are a and this product does there. how complex out marketplace titration work, the very the it mechanism. quickly than without

it a the the secondly, in the fact in this of that as equally, then product in. condition – brings major And attention another as of hyperactive, benefit that well of the is subscales works product equally

parent stimulant-controlled consider to even reason a physician the for product obviously, these the the helping treatment, substance the there’s even you child first-line a try SPN-XXX, we all positioned different why or if angles, be an and So have option stimulant. see no a to as like on

can going is If will of not. product from all, titrate don’t dealing simple have you sample. could you well in And the also it option have it as try a substances. even an this and well one need cannot for don’t of refills, And of know with controlled sample most you titration. complication that to to they now and potentially versus week is what or second you the as work that actually substances refills very controlled where they is And to you that cases, with deal

step wouldn’t away or see downside. if you parent, I it, at XXX not. first? it you you look physician is there a if try and And It’s if or wait and you’re from say, easy. works will – try simple. I’ll I It’s then a really no a week it’s why it. And it So for only

safety without and these going can how the XXX So risking of and XXX high and any of tolerability milligram the the it’s course, we safety by way and, go the certainly believe key the even flexibility you all to all points and tolerability to milligram.

disposal also So easy that physicians is to condition, as the with the different to use. how at flexible severity have it’s and remarkable the as patients scheme and condition of far it treat dosing

the all clearly, are us treatment. as position for product a first-line aspects So there to this

Operator

This to Thank Jack remarks. now you. today’s the Khattar concludes session. call would back question-and-answer like to I for closing turn

Jack Khattar

you. Thank

second, III III on SPN-XXX; program the a We future getting are late-stage The building to on as First, we Phase milestones at NDA set Phase growth future cornerstone XXXX data of focused the of in important the next submission on pipeline represents our bipolar third, for advancing three Supernus. remainder phase initiating SPN-XXX. forward and the our SPN-XXX; first of with look our of

the addition, for and of well way in next are we excited In preparations potential if we on the launch the year, SPN-XXX our FDA. are approved by

XR building this sharing morning. recovery we rest for with joining have the growth forward We Trokendi to of forward upcoming behind for updates Oxtellar to to look you on momentum and and Thanks, the the look us we XR. continued the Finally, again, behind year. the

Operator

today’s participating This does Ladies and in gentlemen, today’s program. for conference. thank conclude you

disconnect. You a may Everyone, great all have day.

Supernus Pharmaceuticals (SUPN) 7 Aug 192019 Q2 Earnings call transcript