ESPR - Earnings call transcript Q2 2021 | Esperion Therapeutics, Inc.

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Operator

Ladies and gentlemen, thank you for standing by and welcome. At this time, all participants are in a listen-only.

Following the presentation, there will be a question-and-answer session. Please be advised that today's conference call may be recorded. I would now like to hand the conference over to Ben Church, Investor Relations and Corporate Communications at Esperion. sir. ahead go Please

Ben Church

Corporate or statements differ risks Good management These Results XXXX. welcome and Call. is Actual release to in filings. forward-looking due information and I'm webcast. the Securities that Relations qualified Church operator. August want Esperion. Quarter today's that The entirety remind are to I Act. Litigation I'm this and SEC Esperion's today our no the XXXX and callers and Investor from conference obligation will this content only for Financial associated Company making cautionary responsible with here Harbor their live time-sensitive morning information you accurate conference at and statements. covered to materially that I forward-looking and the Second Ben be Communications Thank date forward-looking Update to is on could or revise discussed broadcast call provisions call stated any of contained statements Safe the the this contains circumstances We business. results the call after Reform press undertake events caution in statements under of or the update implied of Private those listeners the date by forward-looking of the uncertainties Xrd, of as to reflect statements by Conference

Investors recorded are found morning reminder be call. archived. a within copy detailing today's As section. of being issued www.esperion.com and content A a at Media conference webcast and release the the call We press this the & can

call prepared with comments the for questions. your begin will and then We open

to investorrelations@esperion.com a over Sheldon? to be team. the follow-up Koenig. available call like questions. our to time Please team call to e-mail with for and President Sheldon the now I'd Following CEO, our turn will schedule speak today's

Sheldon Koenig

lead new Chief as to and US With is save United share board innovative our focusing States nimble A Officer; long-term number position good of cardiometabolic the NEXLETOL the Esperion. and call a first on Dr. Eric, care Medical and brought Esperion's line morning be everyone. everyone is President on integrate training, special who I and to marketing experience, this medicine. Chief Eric Financial years questions well. Officer. prepared commercial Eric today for to me Sales and has of of by available Rick Joanne Marketing. are sales unified for and on thanks XX Bartram, primarily Also He at a acute a Foody, your Ben to January today I Warren, Thanks first-in-class and launched in the remarks in call over for When the Vice excited organization end on joining lowering this us Esperion remains recently in the quarter organization. cardiovascular the of as focused will ourselves patient decades, NEXLIZET. solely of first disease powerful joined two earnings the action CEO and novel had I'm all potential which past medicine non-statin and medicines December of addressing in to success killer the as worldwide. great nearly Esperion company for President taken my are with mechanism one last strides with oral you by These LDL-C lives. and year, a pharmacist

Flash what NEXLETOL untapped experience of many the potential I full across worked NEXLIZET. capture COVID-XX potential and However, headwinds. have on immediately Having the these persisting and to the to recognize was the available takes strategy commercial of the top of growth today. market pandemic not the deep medicines LDL-C-lowering of maximizing in it yet of forward medicines, previously cardiovascular

This the all includes in right the our positioning strategy, which We to and were strengthen medicines, leadership direction. begin recognize and experience foundation refined our commercial of our diverse to potential needed have that and for bringing and NEXLIZET. changes implementing of to our the NEXLIZET now moving made team, is of many senior of NEXLETOL trajectory streamlining NEXLETOL this

NEXLETOL has that clear Since of with Our and of approach materializing as momentum focused and formulary NEXLIZET and prescriptions has NEXLETOL prescriptions at these high and physicians to Humana largest results that are introduction second the quarter growth product gain our positioning in well of and double-digit market and immediate our expressed these consistent as NEXLETOL medicines their new to of the The show success XX,XXX evident NEXLIZET quarter, beneficial here a The the resonated reached medicines to already In been the highest nearly efforts physician the the have yet stand initiatives where from the most with specifically respectively. growth. month-over-month understanding NEXLETOL their access D improving providers importantly, revised patients payers. in positioning Medicare prescribe accelerating Prescribing NEXLIZET a and into benefit. both demonstrate grew gaining May on and have our single-digit XX% response payers by to revised status formulary growth. US. of continue NEXLIZET among Part patients But from Xst. mid-April per are adding is in and

goal. driving patient acknowledge options the and at large promising NEXLETOL need We the on who for value this yet, and awareness team strong conversations for the treatment with prescriptions. not payers, formulary, quarter population have LDL-C NEXLIZET the A to maximizing and was quality priority of continue tackle additional to

price generous industry programs, net quarter both, was of our revenue. adjust second and year quarter financial co-pay the pandemic appropriate buy the commercial U.S. COVID-XX payer of economic in our magnitude benefit program contributing to environment, more medicines. down patients in typical our card believe to We the net an impact well favorable standards. the limited the patient as time growth to product first as covered strong improved duration launch sequential and adjustments to Volume With was coverage and place, in supported these our to throughout the encouraged improved, resulted co-pay the in adoption While access our prescriptions of of second medicines XX%

additional We as success time role and positive Joanne Dr. position implement as Medical impact for the volumes that of CEO steps assuming Chief of long-term continue expect net scale Esperion pricing coverage I've to the to over plans cardiologist, of prominent taken up. fully Since one to additional being addition Foody Officer.

not programs. ensuring and that CLEAR Outcomes position cardiovascular of our of Outcomes in our the patients. health NEXLIZET, NEXLETOL potential our great history pipeline both, demonstrated medicine. CLEAR our to trajectory in could excellence, for While could and underserved and of of for Historically, of indicates LDL-cholesterol future cardiovascular me the monumental it but thing, Esperion and a be mentality Esperion throughout on a confidence Esperion of unique indicate only than commercial development Outcomes operational along Outcomes on steadfast year potentially study confidence late lowering quickly of on has innovation trial leadership design NEXLIZET little more past signs on in payers not for also away the capitalize cholesterol cardiovascular NEXLIZET reduction If laser-focused label as every this the priority will enough consistent therapy early-stage cannot the and business company. only NEXLETOL deliberate and a this but entire be clinical would patient driving what are and further to a is prepared come. now outcome in synthesis be short risk with continually ahead amount opportunities broader excellence of trial evolving our bringing as the The potential of driving CLEAR And trial improvements. proud outcomes instilling and a unprecedented a of importance adopters, field This CLEAR benefit. is commercial affecting in pathway, acceptance one our and that am that NEXLETOL to an vital. the Not I medicines is entirely is All of I we just to what emphasized gives the time. encouraging application team and do make this. population say lay side new gain and accomplished is our could our maximize

call introduce you all ask motivation our to her behind team. with joining and turn herself share Now Joanne? the her to I'll Joanne to, over

Joanne Foody

and Sheldon and the you, Thank newest member I'm strengthen Joanne Officer need its the, we Foody unmet disease. significant the morning to of thrilled Esperion address good leadership team. Medical leadership as Chief lipid-lowering in strive everyone. Esperion therapies I'm Dr. to to provide heart team join to

that due who family existing me Esperion from to amongst I three place risk patients the not of cholesterol. outcomes difference as as Chief high disease the or of to For too opportunity as most risk you a as one have arose, far dedicated early I to us, is Officer this patients a heart my a stripped There affected remain far and knew to for would friend cholesterol. disease. well When passion love others Despite cardiovascular career have have the silent make or decades, many often These not Medical ones preventive killers at lead follow countless high at by including with, improving listening. be member therapies had last cardiologist, for its right to too or too my patients.

potential alone lipid-lowering oral combination bempedoic or As either ezetimibe with therapy care. the new decades transform to patient the first two in has in acid

During I the at practicing Yale on by cardiologist available lack of how my Harvard, as the address are progression and Cleveland and heart tools faculty stop frustrated and learned when at disease. firsthand to and of time patients a Clinic physicians the

is that of trial. a taken unfortunately an Steven thing industry, I've patient with and for novel exceptional the teams acid therapies is chaired for three or only across This Recently Esperion and This head-on company Outcomes As cardiologist one-third patients. LDL cardiology and and in trials we trials Dr. seen baseline to been cardiovascular than the disease novel, on by goals. not given guidelines, on the size population this long pharma cholesterol did in a patients and goals multiple has CLEAR not they companies. action problem is out of to glucose design and and the study outcomes I is The and involved has and outcome but achieve became being at disease in I JAMA starting the experts and size trial trialist. potential run poised I known published population. global CLEAR into more tackle only anticipate cholesterol-lowering additive solutions our these high-risk patients scope of that multiple the of patients to been of its probability for even likely of risk insights cardiovascular reach unique Outcomes largest Nissen, higher That never oral need global and trials not lessons their or is, of solutions optimized I've inflammation decades to changed clinical I've cardiovascular cardiovascular big all of a bempedoic trial therapeutic a have being deal. the run atherosclerotic in account cholesterol effects unparalleled transition at for cardiovascular its trial statins despite to The intolerant only two of high statins. reviewed big company patient Further, The focused mechanism apparent. size. time. trial's reduce patient-friendly with wrote success. Cardiology as That's increases singularly benefits and of pleiotropic are means quality, of their this heart disease. unique on should the inhibitors. by injectable care accessible statins their transform PCSKX every be risk lipid-lowering lack unique

your bring management outcomes who Our thoroughly indicated a passionate can entire to lipid by innovation NEXLETOL our am of back reenergized attention. potentially advocate for NEXLIZET I physicians much continued we sense in quarters moment benefit more who have to talent to to the patients cardiovascular today. from NEXLETOL expertise to to that all highly ahead. best-in-class, their bring From incredible cannot and ensure mission commitment this the we have impressed this There I say it started, team over reduction convenient options And and to and urgency to progress again have bring science, cholesterol. and prepared been is that be for but by are effective combat enough. demonstrate to therapy and Thank risk tomorrow. and time patients the I I will can driven remains patients continued done, team confident benefit medical and NEXLIZET you work and of

Now provide on performance. will Rick comments the financial quarterly

Rick Bartram

program co-pay quarter quarter was Thanks coverage time expect the collaboration US our scale the million year. is commercial with expanded was up. million, the collaboration as Daiichi. to a team volumes quarter press for expenses continue for in on net On Sheldon $X.X Joanne. as we a and highlighted to Net card in Over price $XX April. received revenue earlier. price quarter. quarter which approximately million last the $XX improved quarter of that our the today with was from fully compared our from in website. a $XX.X SG&A onetime our during improve and issued revenue royalty second available from SG&A expense partnership of implemented upfront $XXX,XXX this quarter was plans expense for the million second our announced net product first million first implement approximately we second And quarter, with number to the legal revenue Earlier for decline European to first as driven quarter. changes down approximately settlement to investor down expense containing associated results a of sequential the from quarter R&D in by The million was generated million the the second Total approximated second XX% for first charge we second the predominantly which million the XX% in payment Sankyo in there $XX for release revenue quarter. $XX Daiichi the medicines financial included the of our approximately $X related year $XX.X second

to these expect are expense $XXX compensation of that million $XXX inclusive million We year. XXXX Note continue between for be $XXX million stock-based to $XXX fall full and our noncash to expenses full million $XX the approximately R&D year to amounts million. expenses SG&A between and in

the managing XX and June remain ensure of approximately will as expenses organization funded advance balance business. million. cash prudently is $XXX adequately committed the We Our was to to

growth. continue to spend should against potential is you future growth the forward to ensure and expect business needs Going the cash us balance for cash to resourced

Sheldon, progress. the Before call financial handing let back to summarize me our

First, we financial the earlier; revenue; medicines it year. focus, of improved price highlighted our cash growth of XX% extremely NEXLIZET card we remain of and quarterly second, lastly, our and diligent saw adjustments net NEXLETOL through net while co-pay the remainder back managing supporting had for our the commercial we launch confident continue are and position turn strengthen By will will this our we CLEAR to I to Outcomes trial. that throughout closing our Sheldon the With maintaining of remarks. program

Sheldon Koenig

I team Rick. again direction Thanks proud of and headed what accomplished say I is want the has how in. to the am Esperion

still drive continue While across there the care most value to urgency patients. sense to lot importantly providers work and of a we bring to shareholders, of our to left a is do health organization

net metrics substantial translating pricing. has key strategy across and prescription coverage Medicare traction commercial number to of to growth refined including other NEXLETOL Our commercial D NEXLIZET Part and begun demonstrate fronts a of expanded

partners to remain are transform hard and and for lives an work passion lower we your quarter. Esperion. commitment thank Q&A. all colleagues for interest on and cholesterol. patients we true the to continue their and joining the again, heart work this our quarter all millions now you LDL opportunity support we Operator While every thank to big to today you And continued and ready struggling in steadfast for of towards mission at of A excellence, their operational

Operator

Our Yee Instructions] line [Operator of first the Michael Jefferies. from comes question

Your is line open. now

Michael Yee

bit? XXXX, morning. It Could was XX, comments around you to In a that a maybe you was for that had the you think think to just your of great it question. will questions. around dropped gross you were good guys, we quantify little XX-something improve. net in Hi two percent. lot We which taking Thank One hear QX.

ballpark some the recently. know impacted macro over last is COVID -- which the Maybe second of more there's a that. a things then lot to just you the XX%? that think was rest changes year quarters. of few do comment like has You that maybe and improved obviously was question a use? on more Is we Things range could And the

comment better? that getting environment seeing comment just maybe volumes Maybe just as like Thanks. the So about you patient are lot a feel about well? you're

Sheldon Koenig

price our something that it and committed quality believe prescriptions. we two XX%. months. to to would out know quarters not I state to comment see we that. to improvement. speak before, demand we we gross making I'm This Great. your to again, the we exposure, want topic as I just by into don't the -- net net. in this you emphasize it Sheldon. to room. job first in great feverishly Thank is okay a really in is comment team on continue would -- little notable let percentages. on I want give going in improvement something can fourth quarter, going We're noticed here. that a move think, Again, as mentioned gross to have since third Michael. we me I on really-- our morning. something sure we've We that are a And than that a mentioned. you to on And Again, the saying We net will into The And And quarter improvement -- Good quarter work to I consistently third and that specific that you beyond. first this reducing been done the fact that to last and new hopefully advise that continue our as relates me and hear will we relates But the grew as or our has we is net. a less don't as

the that is obviously, variant. Delta it to COVID, As we're something with relates following this

the last field, committed getting are the more have patients we is COVID and and Our always office, returning vaccinated. in get are of to XXXX. returning. back March since field individuals out even hit reps from the have Reports been are that been More physicians

I I'll think surely, ask Eric with they need but are are to office. they're any Warren, But realizing the returning the folks if Delta get vaccinated, variant, not. who's has additional comments. more slowly, if folks here he to

Eric Warren

Michael. I'm has just Sheldon Really years here my been to have teams most Eric experience in for name mentioned. XX here and training, Esperion. the sales marketing is industry and focus cardiovascular Thanks, been have at people by the I Nice behind the a our as meet Sheldon. complemented. a in three pharmacist be the months you, clear that. inspirational; have responsibility of on incredible; And I medicines reasons came really cardiometabolic disease. ago. to few disease been is and My

regards force the that able COVID their seeing good seen has in are those really make. our targeted QX calls able programs all seen also the of with increase number activity, been day so per of So customers. They're to more in significant from we've and significant number signs to perspective. customers increase to sales We've a peer-to-peer on the frequency team increase from to they're a QX, a

on that they're that been always benefits with and our appropriate yes, is we're there, are they're and where sure as out with patients that will we minds. our offices. that proper But the variant pop on to is go to of are it our safety and equipment a they eye that. really our making masks sure keeping will making communicating the predict a compounds close our where our Delta sure We're making and committed Now have risks the up HCP mandate it product. receive are teams can't We down. team armed And

Michael Yee

you. Thank

Operator

Thank you.

line Thome comes from Company. and of Cowen next question Joseph Our the from

now is line open. Your

Joseph Thome

morning. for you taking my Good Thank questions.

that -- know physicians are sort right you those that that outcomes bit I could CV the maybe on they second, specialty mention care you where honing to in did therapy -- data, you're And the is see? now else can prescribers of you on cardiology Can sort see that that primary what maybe then of accounts. that now, maybe adoption? need in additional The of that want first accounts to rate? that they provide the higher little comment reaching a anything are aren't or you prescribing targeting heavy those sort immediately drive there of docs seeing do Thank of one, for that blend ahead versus Do you. and

Sheldon Koenig

Great. Thanks, Joe.

I there's got both cardiologists? NEXLETOL primary is, care ezetimibe part it majority a -- do is the writing be here, little at saw of is This that XX%; not primary as to same XX% And physicians of may NEXLIZET And was than that Our second and and not primary was ran or between This first to we're care is... see a that your unexpected. here your cardiology. I starting and microphone Merck you jumbled of prescribing we of Vytorin closer is that, part of care. but that to cardiologists. question. the really XX% relates think question breakout who the XX% as NEXLIZET? And I prescribing I what more as and to the is may That's care, we're brand aware, seeing NEXLETOL in see probably are Zetia and NEXLIZET primary well we What's And while NEXLETOL.

Joseph Thome

Yes. I if... try it repeat can and

Sheldon Koenig

Yes. need Sorry What they else do to see?

us. are a million other patients, looking in the that Outcomes States, again, for close lipid mentioned analogies, of we're on something patients lot which important awareness. to just and of definitely who that's abnormality, And we have But improving. not their these be and actually, there's going for very they LDL-C So in XX need treatment the products quarter achieving Joanne goal a one at The United now. of -- to us starting was last CLEAR comment will second, brands things see briefly I -- is awareness study, yes have so to a

a realize get in don't target. they to our their this their – physicians also LDL delay patients to So want and trying physicians

a lot believe we room we have to So of grow.

patients we XX mentioned currently As on we mentioned these the of XX,XXX I in million. the have number script, drugs.

we're we say, CLEAR think Eric a scratching maybe surface. a really inflection have and point study? would we the point. CLEAR and my again always any And us grow Warren want study, just I've Joanne, color can will you'd that an inflection add said, to on as As here Outcomes provide partner the secondary

Joanne Foody

Joseph question. Thank you, you, your for Sheldon. And thank

Sheldon trial will I the inflection think mentioned, as be an Outcomes CLEAR important point.

months have close, for However, very we developed with significant leverage anticipate clinicians to we as will study to a provide that integrated approach and XX our respect over proposition. payers providers, value the evidence data that next information ordinary real-world

benefit and as real And all to refine in and could leverage this Head for researcher how the amount all big so in today there grounds work records electronic reasonably ultimately providers understanding we leverage of those of value. an was Sheldon from a our our this phenotypes, understand world of be on could is most mentioned, to & that in not significant really Science how Data who health utilization. might And you What is that for the years many to and the our of do commercial be space therapy we work data data, career for will to been and help having all exist as Outcomes Johnson Johnson that likely my the drives the cardiovascular most be ultimately ongoing aware have patient certain may gaps, academic treatment CVOT.

the most patients from future. while the generated I anticipate mentioned, to right understanding likely NEXLETOL to data NEXLIZET to patient Sheldon as today, So continue now benefit we CV from Outcomes improve and to of and we those work identification, want trial the in think awareness improve

Joseph Thome

Great. Thank you.

Operator

you. Thank

next Messer line Chad from comes Company. & Our question of from the Needham

open. line Your now is

Chad Messer

Thanks. my Thanks for Great. taking question.

You product little talked your bit positioning. a mid-April about in revising

that talk affected Just bit could [indiscernible]. a that of using to has the sort patients how you little wondering if are

talk as So and new maybe drug what you to the physicians, would it positioning? your changed using with be even anecdotally, patients the how

Sheldon Koenig

Yes.

So, for question. the Chad thanks

start Let me off just quickly.

was things positioning new that in April. One we the of introduced the

patients. answer bellwethers close to we right the million of it X positioning to providers what is to Part relates understood. was a this from Humana, turnaround Humana. important the of I with that was win it that had One the D largest Medicare that the with our which And was was is think and testing had an as one is there obvious clear We quick position say

the what seeing So the and working going that this was the comment been Eric? ask He's in deploying it. to to one he's closely who's with Eric of the I'm test field. on field. positioning

Eric Warren

to meet you. Nice Chad, Hi, Great.

on And success. therapy population happens team know also internal So one more obviously types about And phase where that and all the that's kind perspective focused the as revised resonating I a From practitioner maxed therapies There compound in And in that they're consistent that Rather an It's as clinicians, from the a building stick perspective yes, been goal it's April. deployed talking CVOT. two from And other to and phase the with out. after provided. a demonstrate do specific clarity of think they've we at may and to it an a with on again and that the It's that efficacy type indication to of base a CVOT opportunity about where safety well. sales been was five a sizable before well. as then would driving our our executing perspective for than statin resonating team is really play. strategy has NEXLETOL appreciates momentum. payer our mentioned that goal planned we've really HeFH happens we've at positioning expansion patient population some into has that. phases been come aren't to we a be job NEXLIZET then well six intention great and doing our not confidence patient expand. of we got profile where that and hone evident. on or success patient. The ASCVD patients And creates that gives we a the as for the Sheldon And that us see

Chad Messer

hasn't I gained guy's might? mean say it is that it all -- the of fair we thought experience based on the intolerance once Great. to it Okay. that. idea just Is appreciate your I statin traction

Sheldon Koenig

Let to that. me speak

anywhere between statin means doesn't have that I And into statin take intolerance of been been patients is something a a a XX% mean so since dose of that's More there's It rate all. ongoing they they and there's XX% certain so always lovastatin can't even and ZOCOR thought been can that at statins a That think intolerant. I going are launched. after only statin. take statin of who maybe all think

plus patients step achieving intolerance So that but this I'll LDL become make a comment. to a we ezetimibe paradigm about and then just something but something a guided that from is statin has a now isn't evolved NEXLIZET it's else. treatment. really and NEXLETOL just plus And Joanne I'm statin goal. pre-CVOT. physician, it's about treatment a and the not ezetimibe is really else It statin And this believe

patients and earlier there's mentioned and ezetimibe the statins millions mentioned I As we of one are at still and are cardiovascular who as And not is killer. LDL taking goal. statins number disease

there's brands. had And a a growth and quality lot in So We NEXLIZET there's demand. growth We're we've prescriptions. I again XX% Again this in revenue, think quarter. place we in NEXLETOL. potential XX% these for these seen that definitely for of had calling

Joanne Foody

this from add Sheldon, think I if and intolerance exists. I a perspective I speaking physician on cardiologist statin as again a could think just definitely

because challenge therapies not muscle is the had because suffer symptoms to is underrecognized patients have with were think their I there available. that it

NEXLIZET this compounds of not compound leveraged this. a address can of combination to in I been that do and has fully now think point, have think some and a I and your we So NEXLETOL

game still people they on There's with not can that risk So optimization statins feet their hesitancy take risk. cardiovascular smaller goals not statin it. oral decide their suffer cardiovascular I of to Sheldon recognize town when with There's intolerance. do But mentioned, And I think this, the expand. for and people that, an also to vote be we be their reduce to to also statins have were due only think are and high achieve as you importantly opportunity have in statin as to therapy than also therapy of the should leave just their really lack any people it's and to that. doses

there's be fair a variety is what who NEXLETOL host of for So optimal could reasons. the whole cannot a think where and and take should we statin of of a And dose squarely. a range NEXLIZET patients this

Chad Messer

it Thanks. Thank you Great. Appreciate [indiscernible].

Joanne Foody

Thank you, Chad

Sheldon Koenig

Thanks, Chad.

Operator

Butler question of next line JMP the from from Securities. Our Jason comes

now is open. line Your

Jason Butler

my question. Thanks taking Hi. for

one sizing First to on the sales And prioritization? on that's just high-quality us launch continuing can the secondly, an prescriptions update focus the force evaluate you you are with Europe progressing? give how in territory and then

Sheldon Koenig

Sure. Great. you, Jason. Thank

sales size in at the So do the force now, going size. we believe to talk we a Eric the first do right to and let it bit, have that ask relates as Europe. we sales to comment me force I'm about right where are but just

on strong we XXXX They meet a October both to continued with these Daiichi smaller launching launched performance have UK to and countries. them They're Sankyo. weekly see the other they've We handful from and of in So see They're -- of basis. also launched Europe, continued growth. currently in products of in in a seen Germany.

partnership Daiichi sales how to with We great is you there. talk quite about we force do Sankyo. performance evaluate size? well doing want Eric, again, a And have

Eric Warren

nice And to absolutely. meet you, Jason. Sure Sure.

do So managers right near-term approximately now, XXX which is I sign. territory our And QX size the good stable force support it is now to right opportunity. is a through think sales right been

so in cost-effective lot to that have we physicians care However, evaluating obviously are a of primary manner. reach able a be But appropriate ways to do there reach these customers constantly the to potential, we cover specifically really to practitioners. in order to intend maximum

Jason Butler

Great. Thanks questions. for taking the

Sheldon Koenig

Jason. Hey,

Operator

you. Thank

Our next from the line Shrader comes BTIG. Tom from question from

open. now is line Your

Tom Shrader

morning. of it's a Is piece of if your people or the Chad's majority majority already users tell getting long re-ask I silence. but or the of ezetimibe? now I wanted the general Good vast I'm question. me call, to can't patches on

Sheldon Koenig

Tom. Hey,

of First chat know this operator. we're we to room FYI. not telling other picked But specifically have the those Maybe getting us We reports. time. all actually ping some had quarter people or if -- not connection. I issues I to aren't and just it be wanted were yeah, And right sure to might we're your make away. we wouldn't getting the last new that people please be reports.

currently NEXLETOL. it as relates NEXLIZET patients, to on and So

see products. are statins patients are and mix and both who who think we statins of on of on are good these I that taking ezetimibe a

on go now then or right to NEXLETOL -- PCSKX, injectable ezetimibe. room course of as they statin are ability who positioning NEXLETOL. There use you there's talking our would are we plus and is So And and the statins added mentioned actually have before we've to a NEXLIZET. patients who about and just those an NEXLIZET other think use are doctors

those of the NEXLETOL XX-XX when of is NEXLIZET and in those now two drugs look the approximately split you of both at So and right use -- drugs.

Tom Shrader

housekeeping greater than and the quarter? then And second they Are Are months? And they gone? have just one completely any last three impact right. quarter question. this did co-pay All cards

Sheldon Koenig

Yeah.

Eric have on cards. comment I'll co-pay So, the

Eric Warren

nice you. Tom, Hi, to Sure. meet

profitable an to is cost us. the yes, past a earlier, lower leveraged mentioned approval. really in for awaiting the -- And to out-of-pocket that an to bridge we've not if commercial authorization that growth a cards important a only prior Sheldon also multiple for approved as create patient for pays co-pay So for those approved purposes, patient pays script, are will patients or but you

affordable. So the time that make those last for and that it to down continue more prescription will co-pay are the to we for commercially extended approved card patients are paying an

changes we've made the something will creating However, patients and bridge requiring we've Instead, those no will cover to programs including patients. that prescription card prior additional be that co-pay their you longer support some authorization. the program to those we awaiting if to implemented support are

Tom Shrader

you. Thank Got it.

Eric Warren

welcome, You're Tom.

Operator

you. Thank

Meacham Our from next of America. Bank Geoff comes from of question the line

Your line open. is now

Olivia Brayer

added update and in you some been I Hi guys. Brayer. on side? are on give the conversations questions. you out. with an us Thanks the know This Sheldon, payers time Humana Medicare took obviously is by to that you've coverage play where for can Olivia

after timelines for realistically getting out how that do have play year? I about major think you So could this then And that's added that. other whether one and formularies to follow-up something

Sheldon Koenig

Okay.

to I Part Humana. know test with about big all I happy Again the win thanks a largest win provider of positioning. and Medicare was the but again just us, good for a we're that D our question. of really reiterate, first for So your mentioned it lot a

sorry Olivia, relates talks are to we're currently today, it so contracting providers. other -- where in to -- with it we as the As relates

is really other continue We'll I we to update while going through want comment I'm of to And we both that do note also focusing talks on XX% those with think to third accounts. XX%. happy today we and contracted well-thought non-contracted to with on providers, think demand, to where the the greater relates demand coverage it we that And our though sense able is out, go our able in do. when you We and still important as do We're really we it's and than drive your Medicare coverage follow-up. pull-through make are Olivia concentrating we can have discussions. contracts. on make would quarter. whatever is we while we we're Yeah that to be not to still in in the and something that we as meantime sure very fourth sorry. are driving commercial and sit which have actually

Olivia Brayer

second focus you geographies countries beyond is are But of opportunities could have and near-term than others? able this talked a been know priority my term. Yeah. what growth to a there China the or around of longer I you've establish. at more guys already help And question drive then certain that about over other more that partnerships maybe for are really point

Sheldon Koenig

Yeah.

you We again, want Daiichi with we Sankyo region. an the expanded I ASCA have agreement know first, Europe. agreement So that reiterate with to for as

US two the partnership this Right as way And the best stand our that focusing where that's different is in the to throughout still of we're the think markets, and that we now we focus move drive a Latin allowed America. Asia out really Canada this NEXLIZET. on that drive on are we performance continuing China have majority for is ownership to complete but only in NEXLETOL spending and about not will So some be and And of also year. of and I our of. growth the US. focus think

Olivia Brayer

Thank you. great. Okay,

Sheldon Koenig

Sure.

Operator

Thank you.

Morgan next comes question from line Stanley. Jeff Our Hung the from of

now is open. line Your

Jeff Hung

the for Thanks questions. taking

impact to You've with touch points and scripts. of physicians the What then past do trajectory talked levers to need the about addressing have greater scripts? card the written for co-pay generate in additional the you

Sheldon Koenig

actually Jeff, that. Hi, Eric going speak I'm Eric? to have to

Eric Warren

nice and awareness Yes, come you compounds. Sheldon, to scripts Thanks as obviously, Jeff. from of our well, meet

So critical. live able interactions is to have being

to improved significant activity only did we've We've perspective. our really June, in where a engagements QX We customers from double-digit national improvement only we've from our about to HCPs which mentioned, not HCPs, increased bolus QX is smaller more also a that we've I frequency. reach been our XXXX able had targeted I've mentioned And seen but our in direct number peer of of and had we've programs had our activity. with to terms As increase we're but ability in we of customers two the in customers XX to than important. not programs able size, engage reach. peer to of our peer-to-peer

a So mechanism -- that's important And to see as we drive us. that to that's scripts.

our In those Obviously important support prescription the mentioned is proper timely able authorizations as dedicated access. support August implemented the documentation office to are it's And to and a program. both addition, to for be X, critical. that this prescription be the well patient includes with I as mentioned is plans, prior program approved. to we program This some the ensure customers going the with complete works support is prepared I prior as to that processed that that authorization have team maintain all

Jeff Hung

last of months? versus targeted Thanks. over only How cover And to half indicated you've June. that in of the ratio the has to needed reached changed then, get it few the Esperion physicians could about physicians

Eric Warren

Yeah.

our reach to than of those HCPs. been what HCPs. question? we've targeted the part So to the able And two-thirds actually was of closer We're half of more latter targeted

Jeff Hung

last the... how that's few the changed months if that over I was over changed curious, just and

Eric Warren

their seeing the quality that's we're get compounds of of improvements meaningful salesforce there. of And consistently, our dedication the They've improvements their think in also that ability the passion Yeah, because significant discussions there testament and will. to on to have COVID if And they've and been targeted products. out persistence, have. improved. And really we the customers. It's a our Yeah. because to you time now, but seen throughout out I significant our

Sheldon Koenig

also think I and been keen targeting territory applied to Eric the analytics. add also just in has how And of would doing you've data I measurement And introduction that. analytics performance really

Jeff Hung

Thank you. Okay.

Operator

you. Thank

next of from Our the Jessica question comes JPMorgan. from line Fye

is line now open. Your

Jessica Fye

morning. my for Good question. Thanks taking guys. Hey

sense talk you is franchise how of is can the is, maybe question there? overall Europe, how what about translate Europe, in in so First doing get the we revenue for means a the sales business can doing royalty

Sheldon Koenig

been performing Jess, that, Europe me well. Hi, first let has say

with number partners relates comment to of in basis. -- as Sankyo, Daiichi have to on, growth continue Our as I it aspects. royalty a Rick earlier, patients on monthly they I'll mentioned see

Rick Bartram

Yeah. Thanks Jess.

European $X We're did of communicate had revenue That the million dollars. commenting we available that collaboration. royalty from about we the So publicly. actual revenue collaboration is not on

given the But calculations. do on that. some of exchange we're commenting can rates, You not

Jessica Fye

just on cash Okay. either Sheldon Rick. or the one is for And next runway,

away. Sheldon Outcomes is data think I over the in prepared a you remarks a year the mentioned CLEAR little

a that CLEAR to cushion? you expectation data little strategies to have to you so you get that, the you about sheet to that balance Outcomes data the And your it is off So talk top can cash use readout? get might with

Sheldon Koenig

Rick Rick? on have that. comment I'll

Rick Bartram

Jess. Yes. Thanks Yeah.

the our billion those mentioned optimize runway into organization. remarks. out we release we we We look as thoughtful saw do we evaluating feed the at how about press looking only I cash, but and the continue constantly to We're And just for the sheet $X.X our million have to milestones. expenses, in as additional future of had to about, So expect to when balance we capital us, about bring point ways cash in overtime. not costs available be cash want business in we the look you just $XXX in to prepared at reiterate and

continue the is make our that mindset to evaluate past capitalized we to plan on quarter, Capital. Daiichi and have know, this then business two the just financial partners options. that partnership and you funding with We're products. sources the As going to our under business that funded grow And with expansion deliver sure non-dilutive Oberland

Jessica Fye

kind have that XXXX of just there? that try progress anything should think should could about And part Just guys as of occurred? from of any come, be on then, we you communication on the in anticipating Okay, maybe when of the updates to second events CLEAR watching great. we we next on maybe lastly that progress Outcomes, be the is for there proportion

Sheldon Koenig

-- have that. on Joanne comment have I'll me Let

to do relates it we're to want XX% Joanne right But a as you that? events at Just comment to now.

Joanne Foody

that So of on the out just execute first thank end you study Jess XXXX. say close for the clearly is currently the to Outcomes CLEAR and question to at track and

MACE event. It's Importantly we important of have our people accumulated XX% for recognize. to

study I prior think to COVID again seen from there's a remember COVID. fully COVID. concern in the that lot was enrolled impact about of not any XXXX But and has

to studies to report on year. continue And fully event of we on accumulation other to when are study compare in historical will and this place benchmarks is We a otherwise study. out MACE the study good next And execute track. we the

Operator

you. Thank

Goldman -- line our the question comes of Our the next from of last comes Sachs. from line Choi Paul question from

Your line open. now is

Charlie Ferranti

you question. taking the This for on Thank Charlie everyone. much so Paul. for is Hi

like quarter the the timing I throughout as or the revenue a in those kind think quarter? time quarterly portion the of or of went much. throughout regarding the something Thank at price? to improvement was just this so arose us only made kind give have of on reflects the quarter continues. sense the you a Does launch of price as that such net adjustments, reflects that those you that Can of just us improve that adjustments that adjustments maybe half point from one the entire been really

Sheldon Koenig

Charlie. Thanks

each the to done something I of that in months It would quarter. we also improvement into for was and fourth be a and we was mentioned efficiencies. to honestly. looking and further in notable could by improvement as our continue that are still look at of can to to over diligently. the We is that very Again, as had do that And day something move we said for still time set price goes relates see can we and amount short going of as improvement net we we're attained earlier it out those we important it as remarks, couple do. third us. was wherever So type we we such very something that a And fact was in a say it do prepared it this that every

Charlie Ferranti

Got it.

you question. Thank much for good. taking so that Sounds

Operator

Thank Thank you. for call. today's This concludes you participating. conference

may disconnect. You now

Esperion Therapeutics (ESPR) 3 Aug 212021 Q2 Earnings call transcript