IMPL - Earnings call transcript Q4 2021 | Impel Pharmaceuticals Inc

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Operator

Good morning, ladies and gentlemen, and Welcome to Impel NeuroPharma’s Fourth Quarter and Full-Year 2021 Earnings and Corporate Update Conference Call. [Operator Instructions] As a reminder, today's conference is being recorded. I would now like to turn the conference over to Impel’s Chief Financial and Business Officer, John Leaman.

John Leaman

Thank you, Norma and good morning, everyone.

We are delighted that you could join us today for Impel NeuroPharma’s quarterly earnings conference call, during which we will review our fourth quarter and full-year 2021 financial results, as well as providing a general corporate update.

this and Adrian Len Chief Commercial Impel of Impel’s Paolillo, from Officer. Board the Executive me morning Adams, is Chairman Chief Joining Officer; and

a remind begin, this call can our that like we at which to to viewed at Before we our I'd morning, have website slide be conference presentation accompany everyone www.impelnp.com.

are may bby slide synchronized our website, access choosing webcast listening link deck this our on call to you a If your you on the telephone, on page.

X, Slide during actual to and call the go that, would company like be results that we Adrian. As may to statements results over risks you remind I from With the I subject discussed the will will cause to differ uncertainties Adrian? that to the in turn call, to statements. that the making forward-looking are forward-looking

Adrian Adams

Good us. joining in and update have John. earnings quarter you you, excited I'm January on three both morning, made patients the everyone. the thank to from we begin and provided unmet this opportunity progress On corporate to would we for update indeed our you And for of Thank since the pleased call like the not reminding but size everyone #X, an of TRUDHESA, efficacy also I perspective. year. next only migraine market have slide, need the this continue by to of significant

companies lack a the has that from is Gepant by The tremendously driven past investment by awakened entrance. three being new the come the market also over these community. years, growth a significant of the prescription from trip of many grown this neurologist made suffered innovation. fueled Much of migraine know, of has you this most has As on by growth market the and market post

these that searching opportunity either physicians products. efficacy. the shows efficacy from know data will slide. to away the patients been from while product's switch many consistent still of year like I'd Nurtec and TRUDHESA Ubrelvy is profile. the something try turn predictable you consistent for to patients has as discontinue However, the This of #X. or new, illustrates XX% Slide Symphony of This evidenced they churn our next that are as past data given further XX% are now eager for and by for and to and that,

As momentum in prescriptions launch total of the press our TRUDHESA our for January solid set in covered expectations a foundation release, X,XXX, of XXXX. cumulative growth fourth and was over continued exceeded with quarter

approximately X,XXX we recall and deploying made acute up targeted of account migraine launched of and around branded You XX% These X,XXX of XX% high primary X,XXX XX value targets a may X,XXX strategy, for team targets market, prescriptions. the a total sales with physicians. neurologists against that, all person care

sizable new effort. been brand share with of share a Within just we launch. we of super to month their to targets, proportion X.X% in identified brand their XX% over you these adopters Within X,XXX targets, have we with earlier at evolution the that group, consistent TRUDHESA can of see looking focused our this third promotional pushes TRUDHESA whom X,XXX new When depth to see the of the of prescriptions. of prescribing TRUDHESA, reaching

cover States. delighted access contracts United were the of Slide signed Turning We in on approximately XXXX lives having to to end commercial already progress now #X. the that market XX%

discipline, triptans, TRUDHESA generic but of competitors. after not allow one contracts, two a access our are failure or to gross only Gepant comparable to position these Importantly, reflects net and

improved conferring net in in for Prime the TRUDHESA, a policies have payers we key seen pulling with patient these fill coverage considerable like downstream the on price fill to in to and ESI, contracts is through their first Now progress when clients Key to XXXX this dramatically evolution, have align January, front. first XXXX. Cigna

due With the these in solidifying foundation quarter in face the of versus would across but prescriptions have strong launch continuation On short growth confident first the disruption trends momentum to being and continued we XXXX. December first total of this our holidays #X, our like Slide payers are we the in of weeks our left to Omicron in severe in three TRUDHESA quarter, report tripled far delivered for next the nearly to the share our major quarter. to This of the come. have slide, we quarters data We wave. so current further within seen prescriptions

pleased show number with prescriber slide on continues base our this the our our volume. These prescription segments all targets We for shown XX% next are of super prescribers that of data that X. across slide, and as TRUDHESA to account expand XX%

from they slide depth note is when You multiple prescribing this a activated, for TRUDHESA prescriber build quickly that patients. will

fact, excess are as early there who our XX there In physicians already many are physicians have prescribed prescribed who as prescriptions in just X these of in days. have

And are with has further this tolerability many refer Slide of TRUDHESA to will have our group number expanding reinforced on also cohort. said the efficacy we rates rates view we that proprietary XX% and to reaching the patients, patients and comparing seeing now our the continued #X. how of very We end almost abortive efficacy a responding VAT consistently confirms signs, X% deployed the technology. the up but not overall to prescribing TRUDHESA efficacy We're to it giving to medication, space during would On profile us expand, survey This evolution chart, often products, expect, critical on benefits slide, interesting and our rate is armamentarium. physician’s target the prescribers #XX, POD being asked with are competitive TRUDHESA our base a to with we February. seen used Please illustrated XXX Slide feedback lines to confidence by to surprising prescription positive. #X. product's reach very early migraine launch upper the where this given When data and TRUDHESA. is are said to can the previous with while expand slide, by delivering share to As next efficacy the with like it persistency the note share of and begun nasal among of faster Slide depth in TRUDHESA, total the worked next TRUDHESA for that refill better attack. had total growing metric a robust in a to refill to of nicely XX% XX% of you I our see date. This favorably you important This prescribers expect would On going refill compares and forward.

on Gepants, encouraging, filling slide, as that have in used confirms from turnover pool patients. one multiple a sources, data patients classes a TRUDHESA TRUDHESA patients to to from of commonly is XX% in thousands Most this analysis are draw despite added preventative added complement another been remainder be a new as of and market X earlier. are there switched gepant the either the aborted often but while high to other to instances As challenge come either we are to from XX% patients or for of shown therapy treatment. considers mentioned gap Clearly, These advances. Symphony our the when as extremely efficacy many data on from to where a a is the market, is appears expect being for even expected, particularly continue efficacy patients search previous TRUDHESA broad most this patients. of TRUDHESA switched for triptans.

to Slide launch Turning momentum illustrates further now with seen #XX. slide TRUDHESA. This the we have

call had prescribers market review will share prescribers post has adopted over weeks, the results X financial of to depth XX% TRUDHESA John? have past and considering our post triptan looking time that quarter that, week, every often encouraging, XXXX. the full expand very establish is market the turn the With XXX jumped adding to it When captured earlier John TRUDHESA, the new takes to amongst now and of year are of for top of prescribing. I to and to the prescribers. This Over our TRUDHESA fourth at time those triptan XX%. we prescribing, the

John Leaman

million full or primarily million, due and the million $XX.X marketing The expenses product you of next and and primarily results XXXX. full Phase quarter our Thank was of slide, was $X.X period pharmacies $X.X specialty clinical million TRUDHESA million for million administrative of commercial and Slide of in in to to began respectively. fourth and in shipments support period quarter SG&A million, TRUDHESA ramp-up expenses you, $X.X for and will same and full to fourth spending to versus time same of year year were $XX.X fourth a $XX.X the Selling, launch. financial September XX. see the million of quarter year ahead SG&A net October #XX, launch. preparation the for to $X.X the XXXX. the was Please with III reduction general for the XXXX and Research in due as study fourth XXXX XXXX were TRUDHESA and Slide year the our expenses the The and was slide, Initial increase revenue and commercial million for closed. for the refer XXXX million $XX.X $XX.X Adrian. development full now decrease which of $X.X our XXXX. On for the the next in compares The and

share loss compared Impel of $XX.X the reported a period net to $XX.X the or loss net common million For or same million common fourth $XX.XX quarter per XXXX, XXXX. of $X.XX in share for of per a

share or For share $XX.XX $XX.X reported of full $X.XX year full XXXX. per of common the $XX.X a to per the of loss net Impel loss million net a common million year for XXXX, or compared

XX, a the On cash prepayment XXXX, Silicon financing $XX of was the March upon signing million. with had Capital. million, $XXX including the million cash Oxford and Valley XX, $XX.X Bank and company royalty repaid fee. the million company Oaktree equivalents debt December of completed As company funded debt of $XXX and the

like sufficient call make financing, over XXXX. turn to resources would the have and financial With recent into remarks. With Adrian? believe fund that, to I the we now closing additional to Adrian we back some to operations

Adrian Adams

John. you, Thank

on I to make would do your a few turn Slide remarks Before #XX. INPXXX. development the status out, attention like I want closing with to to

unmet pursuant This POD I technology targeted levels autism the our rapid is which is olanzapine, as limited which An a emergency the comprised XXx with marketed known adults first at need to peak to the as with and XXX,XXX of as potential easy CALM for INPXXX I IIa Firstly, a technology duration is patient are addition to fast in of additional risk to acute most delighted formulation refer TRUDHESA. XXXX. for bring slide, the prevent autism the Zyprexa tablets. as is results onset disintegrating events healthy has market be plasma that setting. more interactions. platform. minimal sufficient ER action to POD brief aggression, half drug which currently now we with and reduce autism year agitation without to broad clinical intramuscular to approval on concluding of a can the INPXXX but be of adverse therapeutics its currently Phase guidance study for ideal INPXXX, olanzapine during to used relate patients has an to to cycle spectrum And a year, large significantly disorder, for like that first INPXXX visits the believe line We deliver are opportunity were a We acute patients Therefore, for believe majority next there deescalating that with is use INPXXX. a area least injection. year's the this, last humane there to approach the for home excessive of Impel we for and see that visits in significant tranquilization in FDA cannot of medication faster desired some and initiate potential of year. of agitation for numerous the TRUDHESA intramuscular we treatment aggression remarks would possibilities clearly this to controlled underscore remains sedation, Slide Please provides sharing our has has of subject this swift study XXX proof-of-concept views a INPXXX approximately in full with to slide goal population. than on in demonstrated and and shown episodes study agreement that is untimely in prescription final The reached #XX, to and agitation to with recurrence the planning administer, Phase as orally twice our aggression room

universe. physician market today's our prescription As on delighted have we with share we date targeted TRUDHESA, solid progress with on covered a call, are in penetration large to

All supported managed by excellent care strong physician of patient this position a and and and growing receptivity.

date With the your of would in instructions? delivering momentum XX,XXX feel for this prescriptions guidance the for the anticipate XXXX. to in call we open the to given comfortable can we that, up with Operator, give launch XX,XXX that providing I full TRUDHESA, valued you Finally, questions. to range year please like

Operator

[Operator Cowen Instructions] with first and Cacciatore Our question Company. from comes Ken

Ken Cacciatore

Congratulations team looks And guidance. launch, for really on thanks the good. that

a or you wondering pacing when it, talk out, understanding can And here Obviously, wondering about flows Can about Just of there's of speak netting asked just marketplace, could maybe good established obviously lastly, we've generally to? a a programs, roughly sensitive pricing, is per Anything a you helping that's some Nurtec bit about the surprises, talk we lastly, comparison, this that job you just evolution specific. context more long terms of very launch, it if you an the And around of little they've predecessors you've do. understanding did needed and then able hurting lot, we bit north then any anticipate you adapt price. the a about maybe which you Ubrelvy continuing I in to space. done a you. of of bridging they're these talk on just can to is And and I in value us capture, prescription, but to a to in have should little any the was bit more I've been around But how contracts. learnings, just that kind Adrian, be a eventually where pricing in terms know in negotiating signing XXX then And and promotional bridge? you've but us? anything to the context

more wondering, if DTC been the bit of get back more able maybe in a see capital, as So up the going year? you've to to little we're half just pick

Adrian Adams

last I question, think All questions are right. I'll comment but I'll clearly, date. progress the Len On couple pleased with to latter and ask Len perhaps deal with your to address to the ask well. first as point, we the of very

started targeted know, articulated that from that We've we XXXX on we've and force momentum, sales that we we've build strong into is well a very that opportunity strong the double seeing strong with that wanted time. a also to more a to you could approach force point with XX, earlier maintain kind we anticipate we we've that of whilst discipline certainly, of decisions a the to plan the this invest particular As part reflection we event early our and the at growth given, the see base market. the XXXX. and a perspective particularly XXX sales articulated epitomizes XXXX assumes that And guidance in that will that the in of we're that that of by which size make to into

at particular looking speak. as those aspects we So we're

the is cetera. are well aware significant to we they off that driving despite right, view. amount from that, quite churn to that that a And are number relation we're patients But over et that I that are within figures seeing these point therapies. switching in of are the spending of honest, are television obviously, direct-to-consumer in pleased market. the incredible advertising, those doing we growth say of because they're you advertising, addition, heavily In be the competition

this that So is created in growing the essence, a maximize growth perspective opportunity market able from being to competition. on we're and by the

strong discipline. or aspects consider maintaining advertising, right broader earn As want will financial of activities we a television relation very any the do to our we the to whether that it in to whilst broader relates not to DTC or

So the like be track clearly, year into going us very we to moment. hope this for invest are And to and at making decisions we next on year. into well and emphasize things through things that as this further opportunity

program, right. Bridge the On quite you're

common which work products. as I Bridge launching we and is think is program, new to in did very it these everyone, just to put a in place markets, it relates remind

the which products. -- starting I a filled I the quarter said, this to seen in as is we've prescriptions done We that kind the I we building and downstream into XXXX. I that way, all of could good As that the be know, generated, program engage year the critical sure plans progress the a program. think, and way prescriptions with that during in essence we've the clearly, rapid job think through once of as very is be of the that, year. of That with think Bridge is managed last anticipate well to the we fourth part mentioned, these think care firms wanted going make that, to And we you us the of prescriptions

as of than we moving normal the that patients actually industry. and that's growing was So practices pharma Bridge X earlier. in their rapidly you number program to maybe and place want that we But specialty a is And to to discussed is off Len, pricing X in prescriptions that then and because to And have moving working words discuss being seen within well a patients going the are the more days, into about in start kind which benchmark to that is we're is get of terms program the few able access extremely within the of essence, rapidly more say anticipated. tremendous.

Leonard Paolillo

Thanks, Adrian. Sure.

our for covered over But ending quite is discount the which payer with XX%. We quite you quarters. see by GTN on keeping a successful So look what And that X in well I Adrian bit. start 'XX reimbursed we about progress model -- the XX% overall patients actually up bridge has course Nurtec patient, when blended XXXX, we our program to think a with the net. certainly you over out first saw rightly helping lines that very gross our to a transitioning a over actually been at their XX%, model of points with

You the asked hurting market. also helping about and in some things

I been in pretty the consistent think big efficacy as pointed and that does still the Adrian to, market deliver search for has a very patient feedback efficacy. TRUDHESA there's that

to combination lot depth are that's that getting driving is that that TRUDHESA the turnover prescribing. we're patients seeing the and with back what's in a efficacy of So seeing in with physicians,

Omicron In mentioned, but actually weeks. all-time we're progress wave of beginning that. really in nice think as fun the anybody, with wasn't quite headwinds, pleased for sense any then, the consecutive in we've made really So of since I the the year X highs Adrian hitting

So I there. think we're making of progress a lot

So think of Adrian I yes, it. most covered

Adrian Adams

on And Len? the pricing front,

Leonard Paolillo

So we the follow -- X overall the I first model the I think Nurtec pricing would net curve just that weeks. for covered

We are strong. right The XXX. at I think net gepants now, listed WACC. looking That's our at XXX price is very are but the

Operator

next Our from Securities. comes Laura Chico question Wedbush with

Laura Chico

script into XXXX I guess, into on Also, to a some bit follow-up you. target why little little you get could more first, are guiding revenue for rationale to I to the XX,XXX discuss scripts if little maybe going assumptions up in a offer guidance. bit sense? versus that over to around scripts more those and wanted maybe I level And bit a then the that a XXXX. made have more the drill of for

Adrian Adams

Yes.

obviously, prescription which marketplace. we're of critical I On point evolution, the view, recognize, think, evolution latter pleased clearly, your trajectory very certainly, think, and in I've I point this always we the but is time. at And a been TRUDHESA, do the consistent, very part in this from of of question,

important. X be that very to going X of first are to The quarters

feel in if indeed there time around kind given. out we've And at to will kind which we So XX,XXX in in -- is XXXX, I this of XX,XXX with of we delivering to point clearly, best think the sort line prescriptions, the there. against range, are metric be of much very expectations the out kind guidance analyst consensus put that that of of really that feel

at revenue your in didn't that think this we it point and guidance, I particular terms of question to time. it to clear think -- in appropriate as do relates

I talked we've just think as about.

ahead year exiting gross this to are I base the we the say Bridge year program. Len think from obviously, the our in would I the has also revenue of place And that through had those in assumptions that with model net we'll that be course of from that own expectations. we’re articulated. our we transitioning clearly, spreads

the could in we more to into clarity providing in relation your first But in strong year, particular, aspect going we predominantly that of this -- evolution the XXXX that evolution a to decision related On we giving So and guidance little end, this an we year. basis. a appropriate was move during was into guidance point, the base relation as on predominantly prescription course the prescription give. that through then and as was of most revise a forward I in we go the felt to bit the clearly, XXXX, think perhaps course the see to

touch on point. think I can that Len, maybe particular you

Leonard Paolillo

Yes.

mean, I the with quite there We're we've we're efficacy and at with really, mentioned, patient Adrian been acquisition. the aligned been see, the So doing. for surveys we pleased that’s rate new are levers that's that very the X happening. aligned with robust has patient as looking Refills, that TRUDHESA that which refill the main at rate

the continue. we per that, will great patient. PODs of So a confidence amount And have that also

development the couple increasing months per interesting is of number past over I prescription. really an of course of the we've a think PODs seen that

indication being and the of think both TRUDHESA the I used that's evolution types being used. patients which is of of an it's how in

are articulated. and the the combined us guidance the I get gives what to things think those of runway So X Adrian kind to confidence that

Laura Chico

we should bit very you rates a you of but course prescribing thinking maybe I helpful, XX% broaden rates the the mentioned both refill think, guess I one and how this north over as guys. follow-up year I'm refill of more? now, out be of about Adrian, little That's wondering morning. of kind kind Len,

Adrian Adams

on it touch I'll Well, first.

we've think in which been So rates. way I clearly, measured the refill

rate. course over a expect consistent very X it's of very, months, if So for we XX% think around been tight have measure it looks to XX% you And we the very the the place -- is but is refill see higher one doing would the aggressive, seen, than And would is significantly market competitor abandonment that. very that you last we've low rate and What very you see the treatments also significantly we the that is particularly see abandonment with data this the the with some we've gepants. at TRUDHESA looking with that been than rate other as products. in and the lower of in

So we and growth, all wide which this that to churn the is kind over is in the think of patient, dynamics those the that relation that in the TRUDHESA market, to fact remarkable pool points a in the broader of taking we confidence all marketplace. business have from in

-- translate can to think, so into want prescriptions to So consistent have I is patients relation we very as that, mentioned, quickly, the you -- are first happy for again, as that. course and patients' maybe add as the And hand I good parameter year. in place with getting again CarePoint to of in hands very, is I going extremely possible. think be quickly I But think Len, efficacy Patients Phil very program the well. distribution, we fact point the the about to specialty as prescriptions well. which And that that's we to through that working feel remain that the in very into

Leonard Paolillo

Yes.

we Adrian how when metric. look measure strict rates, as refill quite mentioned, a think it's at our we I

given now, days, filled past XX. data They're calculating we're churn to up refilling. days over time refill the to, really gepants first the average the time not about wind XXX in right of not one. is the and we're looking from if And to next refill sense, the rates our So refill prescription an is in to XX Adrian how you refers that to XX% apples-to-apples try which some do

Adrian So able time do these anticipate will and But we the are we'll that And a as as are some do and the more they refill refills. market, we I we time of And more think to in as comparison there. pleased quite actually be seeing. that with continue. build rates we're immediate mentioned, very goes on

Operator

comes question next Guggenheim Eddie Our from with Securities. Hickman

Eddie Hickman

Congrats on a far. launch so

Just a few for me.

are of the the TRUDHESA the intranasal on feedback continues as to irrespective about the an in the acute any of love lower system that differences would would comparison we're of delivery the Like, have and drugs, that. would like these thoughts these patients versus then penetration to versus kind what from for So migraine peak hearing nasal should of you inter market on convenience grow, how oral ceiling, tracking So launches, using an think we hear but oral? product I follow-up. a a I assume And your intranasal have efficacy?

Adrian Adams

first to that use, consistent of find terms content and very, in from that part with all, the been just not feedback III think that they point, on device, you Yes. number on to to the of that very I STOP-XXX but work quite patients I that of I product done, ease mean, able is has is the human data the first date of of it's the recall the we very can in did STOP-XXX of as a disease be importantly, we may with that efficacy work the of study. Phase study, we've practice get fact the And the we're some they think that that factors demand had quickly what tough seeing use. very in manifested qualitative with easy very from the so that consistent got aspect human we've that

clearly, well. that is I think So working very

terms therapy. very of being think terms in happy and aspects I the think seeing products, the overall in of utility we're I overall kind patients in of of

nice medications efficacy perspective some the gepants, that efficacy from it's that an of better abortive our I referenced from of et I been patients comparison the superior. that immediacy has of consistency think that the in their we see cetera. from think and seeing previous clearly, feedback we're we got presentation, than gepants, the medication, they're feedback of the We in And And clearly, to TRUDHESA of terms efficacy patients. of to always knew that's a getting was that efficacy profile that and

point think clearly, I so very happy. that we're of And view, from

products, I intranasal obviously to a that think areas the think the kind utility intranasal place. nice of I of addition, your of found in products migraine there's In no doubt point delivery on

at of that of of that penetration know, in very market kind kind approaching view they've level I predictability the we What given I been -- long-term X% you upper numbers the continue XXX patients And easily if X been the is we clearly, As price to looks you early time, clearly, if at to if said, in relation of vascular we consistency, year million that took that's nasal to leading And just strong as for TRUDHESA is million. delivered seeing, and sales some that's given excess see challenges, point one that [fail] think, are predominantly of we X% encouragement delivered any well think we intranasally this strong not -- of believe that that the I to share think potential which of obviously trip grow, a products at X the in future. the are downs, where efficacy lower a one market in a rich a of share space. nasal at see have will have we've looks just us evolving. peak X can to market that space, of one a where we point estimates and broad any the

to perspective. position has the add good So to and points Eddie do again, anything that you asked? questions we want we're think from Len, in that But a

Leonard Paolillo

that of available upper having only the would in space, the not of with aspect add A of was also intranasal that about this unique DHE I delivery thinking as medications offering delivering delivered I thing in is mentioned. the case analogs lot you oral to are form, you're kind the instance. or other nasal think the

is that options of there other think I route combined DHE So with the not unique administration administration, having orally. for

Eddie Hickman

how and prescriptions. many of Great. with reach segment? within high do X these the super super long it seeing opportunity pretty go And how of robust It's that before then that that physicians, and sort like far now. how right an that long before in -- segment the it will think been you flattens be focus among that writing months, can within segment seems you target be you're that uptake sort several sort target of How and to about total

Adrian Adams

do touch Yes. on want you that? to Len,

Leonard Paolillo

Sure.

have bit still that think group. we that I a can in we quite penetrate

large physicians our as do important only continue right the not into from now, reach group the and many I are every we that on have of the still that in a a very, be expanding XX% groups drive week, I'll going to all they bit that depths. targets opportunity. super this TRx And this continue group primary to of super At account focus quite mentioned patient is we're of [Indiscernible] very would big remind but get again, a care anticipate to I referrals time, everyone targets, them of have very because, quickly they As reminder, the the generate will a our prescribers they for as basis. targets have X,XXX in market. XX% market TRxs very, same in the target regular we

for we of to is quite I growth in bit sign think future TRUDHESA. work prospects So have these of the both do very for positive a which groups, a

Adrian Adams

fascinating. And remind, Eddie, well, I just the as be over to would to find churn think add data on we also I

proportion You within may have those come at XX% written X,XXX since of to of earlier Ubrelvy some group. over if launch, date of are well just our around the recall significant Nurtec prescriptions that and X,XXX you in to about from our look physicians, to presentation all have been target XX% whom that prescriptions of a for

you look that importance in dots over between to Ubrelvy efficacy the we're that, of for churn of and related speaks opportunity the that in in the targeted speaks very excess are and the that and on of people, on is the opportunity, then being join XX% and the Nurtec, to we approach opportunity targeting, Join when the seeing you the the seen type that overlay So its of opportunity. opportunity. the same the efficacy consistency, at getting of feedback churn to because of group and over actually here dots that

Operator

questions further at no showing time. like hand conference for to currently back I'd closing I'm to Adams Mr. And comments. this over the

Adrian Adams

to forward morning. Thank the updating for to operator, continue you we'll us indeed thank we you. patients, you, talk shareholders all joining value importantly, very serve. our much, we progress you create year the health soon. course continued and you, We as Thank and you this to very Thank professionals on of throughout this look for care you and

Operator

conference call. concludes today's This Thank you your for participation.

may disconnect. a have Everyone, You now wonderful day.

Impel Pharmaceuticals (IMPL) 24 Mar 222021 Q4 Earnings call transcript