FLXN - Earnings call transcript Q2 2019 | Flexion Therapeutics Inc

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Operator

Good afternoon, ladies and gentlemen and welcome to the Flexion Therapeutics Second Quarter 2019 Financial Results Conference Call. My name is Brian and I will be your coordinator today. At this time, all participants are in a listen-only mode. [Operator Instructions]

I'll now turn the call over to the Company.

Scott Young

afternoon. Good Young, Corporate Scott Relations. and President Vice is Communications for Investor This

Those viewed we your the Investors will on that presentation. call I X-K discuss our can to today’s Before afternoon would tab slides we attention issued begin, under webcast, via directly the the this metric in website, slides in be the we flexiontherapeutics.com.

also earnings archive of call can In an this and addition, be press our there. release QX found conference

Michael Dr. and by Chief Flexion's Chief joined call David he Today’s be by Officer, is will led Financial Executive Officer. Clayman; Arkowitz, Flexion's

On sales, statements Securities that and or strategies today's projections. expenses, within Private regulatory clinical, Litigation operating forward-looking business clinical developments teleconference, Statements we commercial, Act. regulatory the net or conditions other will cash anticipated the be utilization, business making forward-looking and milestones commercial financial of Reform are performance, and include matters statements relating including meaning and future to regarding financial expectations

risks to these that cautions Flexion time. assumptions, forward-looking which are subject change over various and statements uncertainties

forward-looking as Additional date today well could as only to SEC which statements. conditions such and affect duty filed Form June the information XXXX at for update this are operations the Flexion's are risks website. in XX-Q Flexion These contained and call other the available statements of XX, that as filings www.sec.gov speak and Flexion's of assumes no results of financial quarter and with business, ended the factors on Flexion's

I will now turn to Mike call the CEO, over Flexion's Clayman.

Mike Clayman

and progress FXXXX, I clinical then for Flexion's who and press for program results ZILRETTA's in quarter XX-Q. our latest an review pleasure in our activities, provide second some on David, debt to you summarize second financing in market, and metrics will thank update my provide regulatory discuss all gene Today will our an color release performance. preclinical announced to we quarter the osteoarthritis. and joining on and and After financial our the provide the Scott, on it commercial It's our call. I over recent turn Thanks, that, business therapy update will our

open we will update, take David's questions. Following line the and

sales To in over quarter. quarter, of $XX ZILRETTA XX% which begin, the we growth represents second first of recorded the net million

by million pleased guidance $XX full-year reaffirming XXXX. million very are our are revenue performance of this and to We $XX for

We permanent an step the ZILRETTA believe with the of several these positively are patients of commercialization and implemented and results reinforcing the past the are that we to we have second J attribute quarter product. code drivers: main prescribers important the marks months, in three changes, traction from clinical the the experiences we over gaining having organizational evolution and

in to work across in I’m and area their that strong, deserves fact clearly of special QX. sales organization recognition While each performance for our our pleased team commercial was entire Flexion say

in the As in will momentum nearly in ZILRETTA discuss of David respect utilization detail, to the continues the existing and saw order quarter alone field build second increasing ZILRETTA. new accounts XXX we with in to accounts

long-term and bode of we While for for us, prospects much believe the we these and near have both metrics still ahead ZILRETTA work well Flexion.

can we and Commercial very progressing is person feasible at will search hire our The right role. report Officer, the for a the are search I time. Chief in interest well there Regarding the substantial that earliest

statement. NDA conversations of to use the remove ZILRETTA's with the Moving productive limitation FDA our to we regarding to have continue label, supplemental

decision strength of a PDUFA repeat by assurances positive cannot the we make remain XX. FDA date our we on data While of optimistic based our from trial, any October administration the about

inability paused ZILRETTA Phase which participants. by simulations, to related I'd issue mentioned a in Based insights trial solutions OA to deliver of informed we’ve hypothesis last number testing we X the resulted a non-safety study. and enrollment a the working Next, issue, developed the clinical we now full discuss dose on those of about development cause are trial to in a pain, laboratory in we of like our call, hip small root clinical the a On our in activities. due that in small

from resume data fourth positive that Pending we study, registration enrollment trial to quarter. expect the in

of trial In and and addition, shoulder frozen as initiate remain investigate Phase a track we to on the OA will the the also year, known capsulitis adhesive in safety X of end before which in shoulder. efficacy ZILRETTA

administration This hoc analysis the we symptomatic KL or evaluated severity from at July, of knee from in findings to ranging repeat OA of patients Sports initial new Orthopedic of administration efficacy In repeat Medicine. ZILRETTA the trial X. in in of and ZILRETTA of presented post with OA knee Grades Kellgren-Lawrence X American a the with Society patients radiographic

This patients disease KL KL each with previously. X X to after pain be OA Grade been XX for most to X OA. seen encouraging for Grade least KL a advanced X the with patients in bone of and KL and this knee at was particularly form Grades that state reduced It's in as not analysis that is due X. with might clinical one often comparable patients weeks that trials The knee injection Grade less to as their had advanced intuitively disease. ZILRETTA responsive expect substantially [indiscernible] ZILRETTA consistently referred is and OA of in studied and demonstrated

treatment events were clinical previous the emergent and all of trials across with adverse reported similar consistent grades of were The in KL reported ZILRETTA. incidence commonly those most events adverse

ZILRETTA rescue medication a publications, in the new from Phase suspension. medications used on scientific both acetonide The week to from ZILRETTA number pooled was tablets data journal, that were the day through per results three As and XX X/X compared rescue Therapy. significantly analysis published use less trials and the immediate-release of for analysis randomized clinical of triamcinolone per saline-placebo peer-reviewed with May in overall showed the Pain crystalline of

this on OA for an we making a study initiating locally progress track remain year. IND are candidate filing therapy administered and pipeline, our product and Regarding excellent FXXXX, with a clinical gene for

manufactured results, potentially initial a clinical completed second GLP Based safe material biodistribution GMP clinical nonclinical and trial testing. and efficacious including IND established we on studies. dose toxicology, we've for starting and pharmacology studies, During quarter, the enabling those

Further, multiple efficacy we’ve animal across symptomatic and both species. of terms structural in demonstrated effects

Additionally, of and the a of January patent, issued June, the composition method use OA USPTO the matter term FXXXX of in of a through in covers new which of with treatment XXXX.

that we on pipeline, our great we’ve will and majority our for and While resources vast to FXXXX to of and the enthusiasm expand investments for other is look ZILRETTA be continue opportunities will emphasize focused it important are to continue to

note pleased with to that business I we're activities. will the and before over to This it But like debt discuss to in financing do, our operations up new turn now million I'll David. non-dilutive to support more he funds $XX R&D detail. I in just that provides

David Arkowitz

we Thank and start on will X-K in debt found on Mike. mentioned. and the will be cover our further through Mike financing, today. you, financials then walking our by which provide commercial I can quarter new briefly the the website mentioned, I which metrics, Scott issued details as second

metrics So me on let of progress direct which provide key X, launch. Slide ZILRETTA's the includes that you context important to several

reach target as over to accounts that which we time we the call, X,XXX. their accounts and second the expect increase quarter approximately to of reps of of number broaden target end to continue as On grown I our our the sales the last explained we

least had purchasing This highly from experience accounts which when accounts as accounts June end accounts that that considers ZILRETTA, is out June demonstrates With once, by reorders of XX, up quarter. of accounts customer especially that encouraging four of continues XX, one purchased first is at that reorders, of initial of X,XXX the which an X,XXX XX% our that had the than reordered respect as product, ZILRETTA every it quarter. As placed X,XXX with base had significantly. accounts purchasing to is from to had the X,XXX grow or the up nearly of the first more three end purchasing of

X, to launch. second the you And growth see graph that quarterly we Moving since can provides in Slide here experienced quarter. impressive the this our sales

quarter. XX% over the the prior sequential $XX net Our quarter represents second in million growth sales in of

Switching sizes the purchasing slides by this purchases ZILRETTA represent clinics physician slide reflect practices, remaining and and to accounts, which potential. and various of Slide X, two of hospitals

the distribution into one launch X to three that units, XX accounts of groups. have purchased out purchased XX Those since purchased or ZILRETTA broken that purchased provided than with more accounts we Here units. have XX to of XX units,

base and group have as see that this new you frequency and size with purchasing of and they As This in growing generally X,XXX benefits can clinical a consistent small reimbursement. orders bought experience the start majority the units. the then purchased increases represents ZILRETTA reliable and their accounts of as to and both observe in ZILRETTA strong XX X approximately accounts have initial

pleased while And group ZILRETTA whom XX over for accounts we this second fully these accounts the of purchased end the their about there's is even quarter. up XXX of XXX by opportunity incorporate we practices. as that the into substantial believe than adopters, early there first further as This had XX% more approximately we characterize very accounts are progression, addition, In to with quarter, were units. or

the Slide to of date. of Moving accounts ZILRETTA total significance the to you X, these purchases can early adopting clearly on see

since roughly XX all accounts, units the approximately While of purchased accounts launch. is these that of units purchased about total XXX, accounts is or more than purchasing the number have of total which XX% purchases XX,XXX XX%

continuum utilization to X previously, the than As XX units, generally from XX from highlights a which units, units along approximately for of base accounts. ZILRETTA XX to then current significant this sales XX our we’ve accounts customer and purchasing X,XXX to to more mentioned move potential

will accounts. add and to see X how ZILRETTA on We purchasing can continue base existing expect accounts out grow we new Slide by breaks our you and customer the as new

in XXX accounts on a grow way continue quarter. board XXX with We new every coming base to our meaningful to

will base OA the further While grow that it had down, confidence to we ZILRETTA become our continuing can the branded we've intra-articular knee customer for our this pain. therapy eventually bolsters in leading expect success indicates slow and

So issued which million now this million for to afternoon the respectively. of of The compared and sales in net let XXXX ZILRETTA me second million through quarter and and XXXX reported you quarter our second XXXX, of briefly $X.X the sales of XXXX. of the sales for release $X.X included second for $X.X of press the was quarter financial results, We of net quarter the XX-Q. second in we walk million $XX cost

The net period net second XXXX. million $XX.X a the the for for loss quarter XXXX compared million of of loss $XX.X was of same to

The XXXX mandatory to X%. net is as net a distributor of Department sales and fees, Institutions XXXb reduction Administration gross reduction quarter discounts such reserve government of second The and rebates, of Veterans and gross to Medicaid, returns net and reflect comprised Defense. primarily

expenses of ended $XX.X were and and other expenses for employee and increase $X.X of and related activities XXXX, costs million development research preclinical three Research the an well ZILRETTA. $X.X our million and million million in million portfolio an salary as development primarily $X and $X.X respectively. compensation related for XXXX development to $XX.X increase for in of stock a expenses expansion XX, months additional increase increase expenses in was and program The expense and to due other million costs, headcount as in June

expenses June due marketing XX, related costs Selling, and and XX, related XXXX for general salary Selling ended activities. XXXX and to of respectively. selling reimbursement support expenses million $XX.X employee $XX in months The were administrative the and increase costs million months June primarily and other for was to $X.X the expenses $XX.X and XXXX, $XX.X external million three and and three million XXXX, respectively. million year-over-year were ended

$X.X and respectively. XX, $X.X months XXXX June June million the for and XXXX was three and expenses administrative million for income million three months both ended the XXXX, months for XXXX Interest XX, million $X.X June ended three ended were XXXX. Interest expense $X.X was XX, and and the General XXXX. both

that activities pipeline. primarily and of expect additions activities for extension expenses in support line FXXXX ZILRETTA, to commercial ZILRETTA, to operating increase, of will We associated continued the development development our clinical by trials continue feature driven with

the XX, March that with million XX, expected management cash, in securities had ongoing profitability. bring and proceeds our and We to the $XXX.X prudent June us our debt of equivalents $XXX.X marketable XXXX, million with expenses as approximately compared expected XXXX. of our cash balance of sales of the future will and believe new cash current As from ZILRETTA we financing

is to relates as what funding as in it said, it will add always believe will and is shareholders. interest important be Flexion decisions we best that we long-term our With to of potential do and opportunistic the we that

Finally, as we've we're Mike to in that mentioned, million secured pleased debt announce $XX financing.

MCLS Silicon are Trust Bank, lenders Financial Our Holdings. Valley and MidCap Flexpoint

and at down million $XX a of fully and facility closing secured receivable was comprised of term which X.X%. to our is rate of the the loan million. rate plus term up the The financing debt the rate is loan, $XX prime by a X.X% The revolver drawn of greater prime credit revolving accounts the interest interest greater X.X% on and the rate is the on in

facilities addition, In mature both January at XXXX.

Today's approximately $X Silicon owed. million with debt pay Bank financing today's million proceeds from of remaining MidCap Valley the amount financing facility $XX replaces our and the and off will

At questions. line this for open to please the point, I would operator ask the

Operator

Thank you. our This concludes remarks. prepared

now We Markets. the [Operator our will Randall open come question Capital will for the Stanicky line Instructions] first call from questions. And with of RBC

is line open. Your now

Unidentified Analyst

them bit earlier, from that be you but to date? OA those is might do have efforts your yet ZILRETTA, doing advocacy follow-up you’re quantitative important FXXXX. is primary for DTC of speaking, couple market? Randall. qualitative for factors making guys. bringing second, on Hey, to purchase And board, a you that more first and patient or preventing discuss in [indiscernible] you ZILRETTA, clearly still broadly how questions then knee accounts on can a so? a the to but any can from have This start accounts it the feedback ZILRETTA I’ve progress share on on new And on But

Mike Clayman

physicians through experience related there's And the order further questions. it's product samples a adoption. to exposure question you yet requisite continued this the that see good ZILRETTA, in All with think I data, to drives of first or have metrics that is think product, accounts experience experience of the gaining that to practices those to once commercial what from And experience. have I a

fact at we're forward, that their accounts get XXX just to so real. added we're ordering about going accounts. ways to find fact physicians those that and our continuing so the familiarity, And accounts And to is quarter, be continuing progress product in prospects to this with bullish increase work we leading

the point. relates to As from but at then data not at in point going we're those it DTC, the this speak may future, to And now. some about not We …

David Arkowitz

Patient advocacy.

Mike Clayman

-- believe full and is of we an patient story in the terms patient realizing in ZILRETTA success our element advocacy potential. … ultimate of important

resources patient there advocacy say do there. I We more stay may tuned because to would be are devoting even substantial and to opportunity an

Randall Stanicky

Okay. And two, that year. target you're a I That’s a helpful. think assuming patient clinic expensive. Can And you two-part it give Part us later this that? follow-up people of on moves one, think lot sense a to FXXXX. for just part the when profile heard dependent of they then, likely of gene therapy,

one should that So from good costs an for R&D the about think trials next probably perspective, David, forward? with couple subsequent but years X program the and how over we this of assuming Phase is the a associated is

Mike Clayman

to the we begin signal disease targeting patient define population -- start I terms patients considering severe and Well, to to want in can of as to and potential will refinement would relief pain add that we moderate modification. just But potential knee with with he like. We're and potentially OA to begin with of population. every David that intention have in

yes, very what you’re it and assume to therapy expense, large those products. yes, tags relates hear saying for totally people the phrase As price -- gene very,

associated than of the And is any to in from we point that, doses be and the in dose therapy. of with cost-effectively drivers. COGS magnitude the volume concentration. One literally the take knee is viral show will does we the as a and the therapeutic other that the systemic producing are relevant of a particle protein less driver develop X to not be injected And that can as a volume. And would below be substantially the we required what therapies as we this, cons going to have space FXXXX required to result, much of to clinical that's expense trials this it's result, of locally predominantly knee will do roughly beyond. believe achieve the orders to proof-of-concept FXXXX with and is result, MLs roughly, beauties of It and which into a expect

Randall Stanicky

Great. That’s helpful. Thank you.

Mike Clayman

Yes.

Operator

Gary BMO question our Markets. the with And from you. of Capital Thank come line Nachman will next

is now Your line open.

Bryan Rolfe

in Hi. and evening. strong quarter on What for It's is Gary. sustainable Good drove the margin how gross the that? Rolfe

David Arkowitz

again. Sorry, say that

Bryan Rolfe

in the quarter margin the that? how drove sustainable strong What and gross is

David Arkowitz

Yes.

David. So is this

we Once a its as margins in from we relatively gross standpoint. in compares manufacturing when have quarter inherent the still variability cost the as consistent a to of think then we’ve prior was noted, So, reach I manufacturing steady-state, of going our we days this yes, there We’ve we you XX%. XX% in XX% gross that clear range. sales had are think margin to early very been quarter it been is that --

continue some So, that to quarters variability will in achieve experience -- until we will you we ensuing continue the steady-state.

Bryan Rolfe

you force Can differently, organization the the may Thanks. and if anything doing be commercial following in of sales the about talk some what leadership? changes commercial

Mike Clayman

team the Sorry, commercial that would as them. a a say the doing of of so think Well, that it the the And things are commercial I organization. we’ve I number relates we're about organizational at different implemented changes cited changes. script. there talked actually is since number in them We’ve to

accomplish sales it First the people think very starts very a of I nice done people and job in in with best I our think sales particularly done reflected leadership ensuring the nice we’ve the its job a that's of numbers. strongest in and we've place and goals, to all,

valuable us NBMs directly, use the in things the growth group that the data our ZILRETTA. with some David including further purchasing we I advantage the just people facilitate think about for sales generate the organizations, and things ability think in talked contracting to orders potential are helps of that script, of of the has to can have take

Bryan Rolfe

so much. Thanks Great.

Mike Clayman

Yes.

Operator

Elliot Instructions] line Raymond will with James. [Operator next from come of Our question you. the Wilbur Thank

is now Your open. line

Elliot Wilbur

Elliot studies, on Wilbur Couple of from then with thinking or the on some questions of based OA what studies Mike, shoulder Wilbur. OA the product just just about what has just of capsulitis concentration based emerged may terms for the timing. in of Elliot here. learned forward changing data terms in updates of your and those that indications? product earlier on any of any dosing on adhesive viscosity either have the And the the hip profile or strength from moving occurred those around you it's the studies Hey, in of relative studies those thoughts

Mike Clayman

Yes.

a see number in inject that of start the and So, injection administration study, than situations OA trial first believe more straightforward capsulitis of a hip. the the no preparation of we registration did it's Elliot, that the ultimately say And full on and of why in routinely could of than itself in to to and are level is at it approach SHIP end and the more saw shoulder injection adhesive go we problems that was shoulder the of before and small administer simulations the for learned really examples that's study will the in that we all, the study dose. And the the the an We do in anatomy track and without anatomy lab shoulder had small hip, studies to the allow saw the inadequate the fundamentally difficulty. -- there the of would of what we injection PK ourselves the that the that I lend shoulder to convince subsequently dose we hip SHIP study, study, site the that have hip and clinical year. experience suggested one ascribed we patients in to shoulder to those ascribed couple that in

plan no and -- is dose. the So to change so there

full dictates milligram or protocol in inject capsulitis that for inject a in we shoulder will We dose the ZILRETTA of both adhesive osteoarthritis. and intend XX will

Elliot Wilbur

relative anecdotal of provide terms the share market targeted win percentage was Okay. questions think of founded this Thanks. Commercial in you respect just easier in sort at with these these of -- will just activities date, And it follow-up period. just in newer terms incrementally is success I the or feedback based a success but there whether can increase on roughly in anything accounts ZILRETTA. experience of accounts, Any particular couple XXX to been you be to could at helpful. its accounts

Mike Clayman

question. Yes, say, its I would Elliot, good

And penetrate -- from total think accounts our ability of new new at reasonable came our the newly penetrated base I XXX accounts some accounts as to generally least expectation to those the of is the same is expansion ability the of penetrate accounts. accounts.

David Arkowitz

I QX look on add, units almost from in to XX% important XX mean, purchase of also the And XXX a XX QX, increase number that, -- average number of more accounts approximately the have increase. I been bucket at would the that than it's XXX it's those accounts a quarter. in in purchased units at units think that the or just of had I I to top mean, more second increase On units from units to

So second we're a their in is the seeing both in an increase number in higher difficulty] utilization and accounts about purchasing that. those [technical quarter of accounts which

Elliot Wilbur

total follow-up question penetration in Thanks. I well point these this their a sense of overall know accounts what as get but difficult you one to any is data OA? in actually I to your is respect ask utilization prescribing of TCA or with on, terms hands high to around practices, that, ZILRETTA's probably want David,

David Arkowitz

have Yes, feel for XXX of vast across that physicians accounts more, set greater lot for and without opportunities a the have XX I mean, additional scratching still that the adoption granularity, getting broader surface. units we types. into We majority the purchased accounts are still we of among of or just those in patient a then

date. to with think that do opportunity than and XXX those handful even So, of utilized there's tremendous there's a have more them units we

to a existing lot XXX with even that of accounts. So there's run just room

Operator

our question the of will Capital And Patrick Markets. come Berenberg with you. line from next Thank Trucchio

open. now is line Your

Unidentified Analyst

questions. X is hip pain tell And is what so, can afternoon. you any hypothesis Patrick And on you the the us Phase Trucchio. This And received? Good this I have working then, for Can the hypothesis actually Thanks. OA discussed have feedback Hi. [indiscernible] regarding a couple secondly, of study? share the if the with follow-up us then with in you’ve FDA? you issue

Mike Clayman

just a Yes, a hip about work, so being the in hip have injection of simply us there that this allowed of injected very that patients. injection full the we’re simulations the to problem. understand to issues of that with material slightly revised FDA a laboratory way the a safety fashion think I anatomy the the and solve state not in procedure we has to in need to getting handful Because for allowed the was hypothesis. inability us that’s deliver dose and into no the the detail potential associated relationship There was no traction.

Unidentified Analyst

with [indiscernible] to finally, the Okay. on how label J with hip of the data PO can resumes us submission existing in or line enrollment that And secondly, you and Thank we when as complete, Also for J soon would explain to supplement OA And trial, code NDA? separate regarding OA assuming you should it QX. hip expect the anticipate OA the would then code schedule a hip in indication you. dynamics need expansion as you well? top

Mike Clayman

to the mentioned Yes, study we are earlier as we going so stepwise. genetics the hip Q&A, in take

the that timeline to we OA expect point, registration permanent relates it's But reinitiate the be when it J will that the to better reinitiate Let's trial, a registration quarter. in inject full doing will code for knee We'd expect fully we a a guide as data apply fourth reasonable and that we to point to confidence dose on first in hip we can could we permanent expect when for OA. for giving depends not which be trial are J position and code, we sure we we it that have be you at that. at the

Unidentified Analyst

Thank Okay. you.

Operator

you. Thank

come will question of & from next line the Company. with Needham Belanger Our Serge

now Your open. is line

Serge Belanger

Hi, guys. This is Serge.

give -- First talk from on you And big progression this whether Can question first some just to color the quarter. jump we Obviously, seasonality the just months? about the some should don’t but maybe I you through July want if the quarter's second about sales, monthly sales. talk know on expect summer us over a quarter?

Mike Clayman

quarter-over-quarter very -- continually We're with about throughout pleased progress talk the quarter. not not Yes, we're Serge, are we going to the sales.

We direction. healthy we important about sales, was that about was good confidence when because We April that first full need do And by what month and very of don't sales talked and reveal are exception to feel at stop investors to we a think talk quarter as were July good corporate it going we our to it's not we there. time be followed a to don't to to I'll fact the in month-by-month hygiene in frankly give sales. headed guiding sales

Serge Belanger

Seasonality?

Mike Clayman

sorry. Seasonality,

David Arkowitz

take that. I can

Mike Clayman

please. Yes,

David Arkowitz

Yes.

sales products terms as you growth -- at Serge, So, to but unreasonable We it's increasing. through the ZILRETTA can track look quarter-over-quarter they of appreciate the are course anticipate throughout of year, intra-articular not and how other in year. the

quarter we're but and context. additional some see different that sales that's quarters just first you Again, quarter. in the place, are if So acid third their you look at the the data, weakest historical hyaluronic a

Serge Belanger

And coverage, the Thanks. terms last changes over couple any Okay. formulary then in significant has of -- there on quarters. been of

had been previously any discussed you I has think progress there? contracting, there

Mike Clayman

continues relates simply Yes, the is insurance XXX% coverage, Medicare, and say to XX% coverage Commercial between be private. to XXX%. it I excellent would as

So we're question very the pleased on contract. David will answer with that. let I

David Arkowitz

early so with initiate so to relatively embarked that. J year, Yes, on appreciate to as with relates not It going still GPLs did we upon going as agreements respect specifics to we it's arrangements respect to this contracting the that for had into earlier example, something is get to code such contracts. days once purchase that we're you’re with

but on basis. tactic related a put will in to that component any and be are not contracts, go-forward we we detail it place So out appreciate going an in to sales break important

Serge Belanger

sampling. Okay. And then, sorry, one last follow-up on

or the that of represent about think you’ve purchased units. I in reside about now? XX% number sampling Where of the XX% kind past is talked

Mike Clayman

Yes.

forward this sale, are in to of slides. XX% that consistent didn't in to is expect the QX we to the yes, that it go fact expect information time basis. purchases philosophy range adoption Also be was or and in to a Last that make So, it can to it's sampling because and same. to we on we samples add be for -- we in shared I’d that use we we X% Where the facilitate sampling appreciate quarter pretty going quarter-over-quarter. utilization. make a our we’re going we range the around just sale And

Serge Belanger

Thank Great. All you. right.

Mike Clayman

you. Thank

Operator

Thank you.

come the next question of will Frank from Laidlaw. line with Brisebois Our

is open. line now Your

Francois Brisebois

on guys. the Thanks for Congrats taking Hey, the questions. quarter.

Just here. couple a

if or You far add guess, of about talked to just metrics you XX you a looking different these or around the from quarters consistent Elliot, you are should your come. I the should what we they wanted for the most to and expect sampling, I so to Serge XX, the and be guys about sampling, pretty but perspective wondering was you or lot took out XX X metrics with guys switching guys may metrics, to be at the but

Mike Clayman

Yes.

is at this think this in metrics -- base I juncture. this a good of set

As didn't as you whole indicated, indicated and feel drop we like a of at it sampling we juncture. this because we value added lot

fairness change basis. so that we different undoubtedly think a reevaluate breakpoints will will groupings the purchases, on going forward. will And about we the our expect regular We of the in metrics

we meaningful metrics including it, and we accordingly. metrics because the there's now. about if have So, feel coming limited But particular utility of will like we down nothing modify feel we road good the there's right that out

Francois Brisebois

about the was problems, is this you patients OA for I that I actually increase. or And to injections of of guys amount which actually through of remember years if in that’s X.X drug -- time interesting the a couple expecting launch injections great. was change you for Are a seeing any the share. Okay, average year, with works. just X.X wondering

Mike Clayman

is able say say, reinjection in is that be it fair to Yes, limitation will we of a way use Frank, the that think than -- to it's I it's clearer difficult understand removed to can we once now. but

a to frame, are at Just per of provide XX% steroid that injections and in media the year X.X population, those patients release done. realized one

that concentrated in It providing think longer plays terms be on appraisal time the to won't satisfactory it that a fair to and just radar removed. have injections the remains of in the injected of uses would until was magnitude better who logical be have to response exactly So But I incentives expect we of relief be pain of And a X.X the would that not seen duration. XX% second that patients how out. higher. limitation a and are be that

Francois Brisebois

Understood.

-- just search then looking to Chief lastly, Officer, look a Commercial one as experience. someone for of sense. in makes are It you the your new Okay. x And the checkbox U.S with for

we of thinking kind a expect to I for to go this the launch long potential U.S. us do start more the guess outside So how about partnership or should

Mike Clayman

with an top would leader who U.S. the outstanding is the a I product being and in the enormous U.S is being experience. believe Frank, successful commercial who We for for of Well, potential least. is it, for U.S this time us say at done mind is leads what’s launch is This this

mind of for the best time right mind of been preclude top U.S. finding any potential it's leader top of us launches. what’s for way so And the U.S not the at in us, is successful the with going We for U.S. who the has would so outside

Francois Brisebois

That’s you, All it for right. me. Thank guys.

Mike Clayman

Thank you.

Operator

Thank are There no additional questions. you.

Mike Clayman

Well, care. thanks questions the time -- forward quarter hard look everybody reporting to in attention. Take our muck and good November? third I your back sometime to for appreciate in we and you results vey

Operator

thank your Everybody all a This gentlemen, you program does you and Ladies day. our participation and today’s conclude conference. on for have disconnect. may wonderful

Flexion Therapeutics (FLXN) 6 Aug 192019 Q2 Earnings call transcript