And Susan. Good morning, you, Thank you everyone. us. for joining thank
of seeing EXPAREL a with the We year positive the entering June in growth uptick after momentum meaningful July. and second are -- meaningfully in half a year-over-year
data In will the improving believe market we remainder that the through continue in addition, year. indicate elective surgery recent of
As back rates. economy more to we positioned are top-line moderates get come tissue and well surgeries the elective growth back, robust to soft
cadence later While greater the the to in and procedural call. we gross market year. encouraged reflect of guidance improving margin Charlie the discuss detail an are we for are full trends, and today, conditions guidance by will adjusting year sales in updated view
year, priorities: growing revenue, and In access. expanding margins we continue three half on improving the will second of to the gross focus market
growth million, recovering of driven million $XXX of in Second quarter revenues sales EXPAREL market. $XXX by slowly volume a solid include
field-based to promoting iovera with we team three our build and of ZILRETTA awareness around continue products. now addition, all In our
to $X more Second and sales sales $XX million, million. than exceeded grew iovera quarter ZILRETTA
million cash of by and further significant top $XX scrubs is our under term recently financial solidify outstanding facility. our condition with allow durable line ongoing combined to discipline that prepaying loan flows a strong operating driving Our principal us
of significantly quarter The second also $XX of EBITDA marks adjusted million. positive consecutive quarter XXth our
gross to We to second continue we margins, quarter in the and direction focus on are with margins improving improving XX%. right moving
Our San margins second Diego achieve XX% targets quarter of volume now and for EXPAREL. is facility outperforming
also to the We process year. exit this line, expect in as we made improvements impact believe quality set later in the margins return have we significant high-XX% the to that XXX-litre we to is range to begin gross that of margins Swindon we'll for foundation EXPAREL positively XXXX. Bottom
track San drug on submit XXX-liter towards application this On critical gross facility milestone EXPAREL new will year. be our the remain front, a supplemental another regulatory improving for to in we Diego margins. later This
application additional FDA support In addition, review an to EXPAREL, improved and product for information of for assay recently release has completed its requested approval. and the our
a to efficient meeting We most with request define the will path forward submit the agency.
in year. impact not shift margins to does our ability this timing Importantly, gross improve this
Turning more now starting our specifics franchise. on with commercial portfolio the EXPAREL to
which was elective quarter market million, other flat the as pricing XXXB sales pleased to essentially report are volume that and growth the continue discounting. We surgery of was we year with offset of outperform versus prior second EXPAREL X% broader by $XXX to
Act and continued stage programs the to growing meaningful Our EXPAREL access XXXX. implementation meaningful provide a for in base, has of in these inflection to investment in larger for the NOPAIN setting procedure the
for at was with EXPAREL highest being As XXXX strong record particularly last of sales second ever near the EXPAREL. with the quarter year performance a reminder, our third levels quarter
to as the as second the progressed improved rate and us leaving into growth market the second year-over-year quarter normalize. continues of half optimistic higher for July, year Importantly a
outpatient initiatives put year. half initiatives volume TRICARE expansion surgeries, plastics as continued from medicine XXXB well and this that growth in as and sports expect contribute second also reimbursement, the to place, revenue in and growth oral as We we of that have such will maxillofacial and
our adding we base, to far Turning access, continue market so expand year. more EXPAREL time than to this user purchasing XXX accounts first
level Maxillofacial rollout of a EXPAREL Surgeons interest growing We Sevaredent. last are year's by and Oral among fueled with of the seeing partnership
We launch best months surgery education training support using more the EXPAREL-based we for a after opioid dental oral patient XX with practice sparing approach. X,XXX organization another expect large to in will with similar support partnership than Together across offices recovery optimizing and coming an states. around
to XXXB our a in contributing opioids offering entities are to price most as expected, growth helps reduced pricing continuing eligible challenges and volume -- problematic. business As program new by both existing where often cost is it alleviate
where discount pricing For the leg. first two-quarter from roughly weekly were half with remains in year, for XXXB level runs XX%. a XXXX the XX%. second Gross recent And XXXB at with favorable also the with highly net to expect XX% XX% roughly of to -- industry the at which to into volumes the year, we a improve EXPAREL our orders, roughly XXB increase XX% of roughly half taking effect government the for price volumes
many patients procedures. was doing accessing and to paving Expanding status. in pool no This investment an a outpatient way since we businesses. is provide regardless insurance more program within our larger what all, their naive leverage opioid XXXB to providers the possible, the income are of the designed growing as EXPAREL mission existing for us Further do. All who perform to and volumes user want of to significantly surgeon alternative to it level patients XXXB is base or advanced and as pain is
Their separate the agency Act, which to XXXX, X, with under recently also on Outpatient and January outpatient continuing rule Reimbursement qualify Code settings NOPAIN their to notes for that non-opioid reimbursing CMS for proposed CMS XXXX. preliminary post-surgical all will implement surgery begin issued System the Prospective rule CXXXX. center the Payment for products mandates pain separately ambulatory reimbursement and for EXPAREL
setting Reimbursement payers ambulatory as and will addressable lead surgery follow EXPAREL. NOPAIN commercial CMS. will provide the than XX And reimbursement as of XX% million outpatient the cover nearly well self-insured a to centers pathway current total of procedures. market we hospital the more for market expect for EXPAREL-revenant in
access providing government seeing the reimbursement CMS their ambulatory and to adopt pain surgery NOPAIN. setting. non-opioid in the TRICARE families military employees, Medicare expanding are for parallel, EXPAREL mirror hospital In for efforts October We centers in the separate through begin will with policy also this like TRICARE for CMS methodology would management year, In our Reimbursement NOPAIN. outpatient expect setting, and this of implementation of we to
in secondary coverage. XX or roughly are million members for There TRICARE enrolled primary
soft of programs the to affording Importantly, NOPAIN these TRICARE populations. eligible and care margin XXXB tissue lower hospital systems assist control and opportunity to meaningful non-opioid to pain health the settings. migration These offer the procedures are will especially for outpatient
knowledge practice events interest than training to training and to accelerate of our management. centers educational infield as more healthcare state-of-the-art who and migration more care. market's to the the continues first In surgical site new XXX X,XXX innovation on Our opioid and providers outpatient sparing programs data be In forefront to to demand for pain to support sites want are than grow pediatrics, the year, the half provided of continue transfer at best of generated.
hospitals focusing is such continues use pediatric on organization influential significantly commercial EXPAREL it Children's. expand to Our Wisconsin system institutions and as and the Shriner’s top
in in in recent in spine Colorado, including have Philadelphia, Mercy and Hospital Children's City excellence secured Seattle centers Kansas of other also Hospital, programs Children's Cincinnati Children's. of several and We Chop wins Children's
to look success year building of years. will a to label patients We six and our study support registration to expansion forward to later initiating on zero include to the this EXPAREL aged
nerve label action lower process for the FDA EXPAREL front, review reach is this expect regulatory X the the extend annual knee, into surgeries are of date two expand lower than flush To ankle to the that application we application our representing with XX. of significantly our advancing indications PDUFA we remind will seeking the million label expansion to include November On procedures. drug new medial leg supplemental you extremity more key and block of EXPAREL
on the year. for Finally, completion X continues and of our administration for end EXPAREL Phase is track and around this study intrathecal
complementary person awareness and standalone around these our osteoarthritis education non-opioid Switching gears XXX to is and ZILRETTA full solutions team managing iovera, field-based pain. while for and broadening
new Several indications new over So this for current more track on and track first the purchasing added customers far products. customer. on year for than XXX both and new XXX are and next time year, milestones iovera the team ZILRETTA
ZILRETTA, shoulder a For include in study we study osteoarthritis These expect studies. to new a two label expansion and safety osteoarthritis. diabetes initiate knee
will ZILRETTA claim to approved OA. Importantly, adding and the if successful, shoulder versus goal for Both is ZILRETTA first triamcinolone shoulder ZILRETTA evaluate the should our with become label. study superiority studies corticosteroids a the of only specifically only the
families golfer For iovera. recently and partnership Lexi about advocating non-opioid announced like renowned will be newest educating with Thompson, iovera, professional solutions their our and fans we athletes, who
to TV at Golf started broadcast and on new learn viewers drive Channel, commercial more to select a other also We last month have networks running the that iovera.com.
to iovrea treatment ahead address aloe registration launch for spasticity Rehabilitation this from University the technologies cryoneurolysis be about Society On study Gerald of prospects game as A Medicine in XXXX track prospects Last potential of keynote the of Conference. Francisco clinical his excited we the looking front, Health and iovera to for Dr. promising and remains as later Texas exciting the in International vera Center, the changer of year. month, titled spasticity. highlighted and management, spasticity on Sciences and a continue Physical
and market is inadequate with options this toxins. limited dissatisfied As phenol you know, treatment a to highly currently
expansion also to a market for pain have include activities branch the on blocks back we medial iovera Our low expect XXXX. tip smart for iovera new in
development therapy our produces product portfolio, we RA for intra-articular Beyond stage novel X earlier include candidate of that exciting an have osteoarthritis. a new PCRX-XXX, product that gene portfolio IL commercial opportunities
study lowest but our recall observed studied. As first of from encouraging, you data the at were very greatest efficacy the level X Phase dose may
positive planning PCRX-XXX to launch osteoarthritis X this for in the on knee. a second Based Phase study we data, of are
We input protocol the currently from FDA. our receiving after are finalizing
for also Phase or where nerve our block pipeline, for which to multivesicular becoming are We as for liposome includes low internal a bupivacaine activities pain continue liposomes advance addicted at multivesicular a most formulation longer for pain multivesicular liposome formulation X risk -- a dexamethasone pain block their and medications. lasting field patients readiness back to chronic
that, I'd over turn Charlie? call to like review, his to the for with And Charlie financial