NOVN - Earnings call transcript Q1 2022

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Operator

Hello and welcome to the Novan, Incorporated Quarterly Update Conference Call and Webcast.

As a brief reminder, all participants are currently in a listen-only mode. [Operator Instructions] Following the presentation, there will be a question-and-answer session. Note that this webcast is being recorded at the company's request and a replay will be made available on the company's website following the end of the event. At this time, I'd like to remind our listeners that remarks made during this webcast may state management's intentions, beliefs, expectations, or future projections. and and statements forward-looking are involve uncertainties. risks These

and are to Federal the statements current Laws on Harbor pursuant call this expectations Novan's on the Forward-looking Safe differ made Provisions are based results actual could and materially. Securities of

you result, under place not forward-looking reliance should any statements. a As on

These reports could and actual such these discussed are Exchange documents forward-looking carefully. to the are you Novan with encourage materially Securities differ documents periodic the files of to Commission. the website. Commission's and Some of cause from in factors Exchange statements Company's in that review We the and results on Investors these by available the contemplated Securities the section website

on sources surveys from studies, data obtained Additionally, the research. and other publications, relates certain information contained based this and third-party in own webcast estimates company's and is to or

third-party believes verified be While such these it independently information. the sources is not to company reliable,

call call and President us Executive proceed. Executive today and Chairman, like EPI turn John Stafford, from the leadership Health; A. M. Paula Paula Novan Brown Novan Stafford, the Donofrio, Officer. Brown President Officer Chief and Chief the would Officer. of Joining now to I President of on to Operating Financial team over Chief Gay, Please Chairman, John Officer; are Chief

Paula Brown Stafford

fuel This news emerged foundational for company. medical on and just is exciting and associated adults. platform therefore, growth everyone first products announced Health, quarter thank proprietary the a Thank fully in R&D you, redness XXXX as is the future acquired added corporate topical Novan. EPI On the prescribed in have results for leap great you truly to XX, forward acquisition value with relaunched have and A a integrated Novan's Rhofade, Good for we ongoing Howard. rosacea now the financial treat facial We Health pandemic update, EPI and of technology hit. Novan. morning marketed We for joining we a had dermatology of Rhofade including of example our organic cream March to Novan. we for a time to for XXXX. closed in

began in a serve. for met, quotes to offices It's are two needs written reopen do patients XXXX striving Rhofade. we've increase here value Novan's nice of for dermatologists to seeing and we in their seen Novan. scripts are XXXX, we're the The early something As from late patients at the tangible who products that medical

opportunity. more our that steadfast are compelling We in belief investment now remains Novan a

five, finally, an the and and We've have medical we XXXX. that of to be to diseases medications units, And with research one platform. highlights hand, products business remembered a summarized, bring innovative dermatology our formulations; our four, discover by NDA two R&D oxide-based commercial a and going created submission the patients one, two, and on has targeted before engine capabilities skin. lead products to and count priority Our product in through can development candidate; we're one near-term three, all value promoted creators, team; easily down of product pipeline, commercial the therapies develop company candidates nitric end

product experience. to our our Our drug We've Durham, to platform dermatology healthcare technology needs. outfitting We're commercial recently unmet tout engagement, completed relationships, from as oxide-based generated conditions medical in experienced formulations effectiveness. launch with established and launch well Carolina, for NITRICIL to supply North an address multiple as sales multiple has of the manufacturing to nitric substance. We've small-scale able facility

focusing and days the days transition shortly. teams progress speak smooth one purposes, integration our systems planned. on date. acquisition. us to or truly to schedule to with processes that. EPI We are I'm enables one The leveraging aligned will set for focus now strategy detail The Novan. positioned XX on our for about if culture, pleased synergies. and has to Integration, XX our post-closing little our IT let approved. of KINSOLUS the me a which of bit SBXXX and execution been accounting growth seamless talk and of as John We're We've generally on

We for take including John a will promoted commercial our Donofrio Novan's few products. to now minutes review platform,

As Novan you Health, over heard, President of a JOHN, you. John is Novan's EPI COO and company. to

John Donofrio

morning, this proven integrated Thank a with medical morning good I'm we you, and Paula platform. now team, both fully key a R&D a three discuss strong commercial engine, an to going dermatology areas. spend some and execution mentioned, Paula time company are with everybody. now leadership to

First, capabilities. our commercial

areas provide prescription product update QX performance. of our to like and Paula benefit patients our I'd and background that promoted portfolio close platform. on our rationale EPI the on Health, mentioned was product with our therapeutic Second, serve an portfolio our along and acquiring commercial with

think supply the with start commercial have with commercial dermatology across of community practitioners. third-party ability process. We healthcare we X,XXX over presence chain optimized of established our suppliers, you platform, along medical an to an the our management When reach management demand with

wholesalers with patient our network to ensure programs affordability enhanced payers to our pharmacies. have patients the We and all built access medications. managed and both have capabilities We our affordable distribution direct to care capabilities

years. territories support three sales field the training sales over regions than also has Our past sales our of more and consists XX organization We've four our upgraded organizations. and in doubled

foundation Our in believe relaunched potential future team or last will solid four a And launches. experience products that the four years. for either launched our provide we is

healthcare us engagement and brand is key and capabilities, When dedicated our our have throughout on differentiates what with our built the product marketing portfolio. data on commercial we across focus practitioners and opinion state our messaging employees focused a look We and at we professional country. And lastly, education the execution and leaders our team disease performance. strong relations

commercial complimented as metrics. that of and one financial platform a operational analytics back, and alignment have clear objectives. is step reporting we aligned look this common at on of a When We focuses our data platform set management, with that financial strong capabilities our and we on

the company launches. future also Novan legacy of our We we even into commercial process to potential in platform it the make for integrating prepare are stronger as organization our

readiness, platform commercial There on we employees, with statics, procedures, patients a across we strong ensure multiple channels value and to is medical serve. with field performance high that our management to Our dermatology the along customers, device, deliver prescription, our our focused organization are engagement shareholders in space, OTC.

and on states state. Novan, at focused one disease are Here just one solely across disease not we multiple prescription dermatology not of a products providing product and just portfolio

years, rosacea, in dermatitis. acne, and our provide atopic the unmet in on specifically efforts key needs four innovative focus solutions and dermatology. psoriasis, We past Over medical states compete four our disease we in patients

an promoted in the Wynzora launched technology. maintenance delivers for plaque our now demonstrated like patient, of pad community, but platform product of current the a and to efficacy, portfolio. would last to only development treatment a with dermatology medical pediatrics. to about adherence attributes have a states with we commitment the thinking Wynzora strong a on to psoriasis. disease disease. We three expand our of and within dipropionate diverse built other on our like dermatology I overview pipeline, combination our of not When is specialties is using cream psoriasis, innovative In key and both calcipotriene This provide medical the on and promoted cream betamethasone commercial flares formulation summer pipeline. -- an call novel safety products, works product and

redness, category. a medication treatment the was redness. is need for products facial addressing rosacea, The inflammation unmet in the the has a For leader prescription PFE, majority the there of erythema, rosacea PFE Rhofade topical rosacea, become or an and market persistent indicated in of of specifically addressed and Rhofade

MinoLira active minocycline. and antibiotic delivery our side ingredient, technology For limiting variability innovative is MinoLira potential our effects treatment with acne, the to a approach the active patients ingredient oral provides patients. of when ensure consistent to of

CLODERM. for XX-year steroid is known Lastly, practitioners healthcare dermatoses. with with patients history CLODERM with a trusted a

are products our X,XXX country promoted over XX Salesforce As the existing mentioned, by healthcare across practitioners territories. of our

So, now of product states, platform; our serve disease performance. our you patients talk fundamentals the shared our We commercial and portfolio. we diverse let's with the

significant am with previous pleased line slightly of in expectations a team in four to year product fourth report sales and cycle Beginning our of of let's within in three our last Now first over quarter the over promoted call performed were discuss Prescriptions CLODERM. adding XXXX. team the how growth when launched with quarter, down I flat Wynzora. products. our we

in was Wynzora, has consistent month-over-month quarter-over-quarter launched and Wynzora, since launch. mid-XXXX which of shown Speaking growth

prior quarter year its For fantastic strongest and Rhofade, quarter. we're XX,XXX last over with excited nearly of Team to have over closed in a prescriptions, the XX% the time brand above did XX% job. with high all previous the quarter the history

and deliver performance previous we're quarter and to now quarter. Speaking to strong end also this John forward. commercial ability with growth lower feel extremely or demonstrates of execute over had job, very fantastic a XX% is seasonality XXXX almost quarter had flat and our -- due summary, In and over with back much. you growth pleased that Paula, platform's and historically hand going and XX% this it above to you QX thank QX, I'll MinoLira year of to

Paula Brown Stafford

Thanks, John. All right. Super.

an key focus plan your momentum in our that continue focused both our opportunity states, future expand what level in regional are levels. promoted as But will Salesforce lastly, our size may and and and And going Novan companies the we the I doing growth meetings. even continue question company, products, disease our commercial starting you a the national drive continue territories to expansion or outside and at next disease U.S. portfolio. execution think Health the and our this Salesforce add marketing established Starting with as, presence year, potential potential of we shareholders at be, our organization to better? to week, with to Rhofade well, states, our a on the to even current as our drivers the leaders well key by value the heightened be growth have products with half a Well, programs with had structure. local along seven of to sales good now and We'll excellent it combined expand this of our make that to second of promotional licensing conferences opinion across keep leader industry planned perhaps coverage this continued of expansion national, EPI XX promoted

R&D combined commercial announcement our our of strong portfolio. So, commercial it's our and integration been for an the growth strong time culture across company, prescription quarter and one with organization, the of our exciting

needs excited we development a extremely commercial perspective, provides our have now spend our some our near-term medical our market and opportunity the to own Novan of focus, its domestically, and leverage our different our on has It pipeline areas candidate for pipeline, solutions, product and platform of meeting addressable So, key R&D Each commercial diseases with engine. we're ultimately others. as compelling opportunities. and to technology we current a fuel time look from to provide I'll new globally future. pending skin

to and to gas capacity to for in story, technology improve the Novan of So, technology nitric includes a just storage our us advantage nitric outcomes patient high localized quickly stable in a tenability, ability NITRICIL of and deploy demand solid solid us The our on enables our NCEs that in new to create We stability, a form. believe store variety the oxide potential large targeted those formulations, amounts oxide allow form of new diseases. delivery. that in the

solid and with berdazimer X,XXX safety far, XXXX. specific seen clinic, across You profile we protection out nearly We've have the a here, the to treated and in platform we've patients the sodium. IP a ingredient with thus formulation indication can active patent compelling see

as lead we SBXXX, efficacy XXXX, In It's positive results XX.X%. gel is X from highly robustly reported the XX, with pivotal treatment study. what remain topical a sought Molluscum approved Our berdazimer molluscum for prescription primarily tolerability the procedures. candidate Phase pediatricians I've is is prescription treatment. to which referred contagiosum. product our one there's a age contagious Dermatologists in no currently of children for which office prevalent based and condition FDA to concerned potential

statistical our clinical secondary Our primary pivotal with known and B-SIMPLEX demonstrated of and as endpoints. efficacy, evidence study X Phase

submission. may ask are we NDA preparing you next. So, now Well, what's our

NDA and meetings -- business, from agency minutes part of testing received in GMP package. batches substance of what with then that need And our drug customary course our of we've complete before normal written and March to we product. of had April. This As the of our pre-NDA agency is drug stability submitting confirms our in completing the

the of remain planning track targeted on we to year. end SBXXX, date launch our potential meet or if submission Importantly, KINSOLUS, of the approved. towards been We've before the

That prepare to we acquire For we the SBXXX commercial and some value best our activities which progress; scale running; is EPI KOLs platform Salesforce most which if reimbursement outreach ongoing; have path manufacturing really a is to time potential and a commercial that for our which ongoing to now, And an launch. was key business, capability, identified in team, pricing is that medical to which and include will a is and These approved. Health. the strategy, established delivering compelling and up path, come. meantime, through in promote preparedness,

So, many Novan launch a for also potential product times said full for at it no Novan, success future you we've we and different. growth as know, to has technology platform poised fuel plan is the company. a before,

specifically our is candidate, priority infectious for and SBXXX upon other SBXXX funding. two product of to product programs dependent The for have both In acne we lead addition diseases, additional candidates: vulgaris, SARS-CoV-X. progression

commencing FDA Phase path. a series berdazimer our submitted and before And in April then awaiting feedback X assessments sodium, vitro this in vivo of Our the XXXX is with in Phase on SBXXX, next are milestone for on final initiate one our submission of we year. study. and down pre-IND X in XXXX we pre-IND Based for SBXXX to

to wings provide with to product the future and the addition collaborate potential product the All our the Novan outside we candidates U.S. dermatology have in opportunity U.S. priority platform, potentially several in In other candidates value.

So, first on I'll John results Gay. report to the turn quarter call to now, over our

John Gay

and we X/XX the Paula commercial days had three-month of morning. March Thank reflected to good activity you, on EPI the ended Health XX acquisition Due our timing of in financials. of only XX,

quarter, touched John product earlier, promoted first on script activity portfolio. the on bullish our However, complete based for the of future are we which of trends the on

new we Before I process our the set fully the of points excited let data this touch our are for we in path key on some and personnel like still while for our us, our of I before know would the to integrating quarter, that participants operations. company, are

are or EBITDA. in a we not guidance relates it position provide yet As such, as to XXXX revenues to

opportunities for our noted, promoted portfolio. John product as see we However, certainly growth in

For quarter this Again, March the the total consolidated for million. segment XXXX, represents business. XX this revenue only which segment XX, ended legacy business reported represents $X.X EPI first Commercial Health our of of days activity Operations

revenues million, sales product from days of segment Operations XX MinoLira portfolio primarily driven CLODERM the from Rhofade, million net ended Commercial of million Net for and March which Our by commercial XX. included revenues XX. sale totaled $X.X for $X.X ended the our was days XX of March $X.X the

adjustments, and for our products, In did currently in we those addition approximately date. acquisition trends related products accruals a $X.X to promoted were reduction as these the of have positive to revenue including million of also that certain for not certain assumed

the Commercial includes Therapeutics license also related segment for million. our our of primarily totaling we collaboration expenses. also million Wynzora, of reimbursement the arrangement, addition, MCX only $X.X amount to certain part In This but revenues, generated covered as and not agreement with commercialization $X.X receive fee that of Operations

Novan business, of segment, for months three Our legacy XXXX. ended the the Research March reported of comprised $X.X million which total XX, Operations is Development and revenue

months Operations XXXX, generated XX, R&D segment March of three $X.X million revenue. ended the our For

agreement Our license Pharmaceuticals with of this comprised the and collaboration majority Sato revenue.

of the received during quarter time-based payment to a addition, million we milestone agreement. In of $X.X related first this XXXX,

turning to expenses. operating Now our

increase three primarily of timing XX, S&A for $X.X on due acquisition, months transaction-related XXXX Total $X.X million commercial was in million during finally, the to related in XX, Research costs. and This months and of for segment R&D the for support to Health's the of million the a Our months XXXX. were increase $X with $X.X basis incurred ended program million $X current trial. to March million and non-recurring XXXX compared SBXXX to million net a as the ended $X.X EPI March for in of is primarily G&A ended XX, consolidated conduct $X.X three March compared the XXXX. first Operations decrease support connection the $XX.X of loss million SBXXX the three three million expenditures Health Development months XXXX. preparation, commercial approximately March $X.X sales was to compared XX, prelaunch for the the EPI million million XXXX increase on related million ended expenses quarter, $X.X expenses costs the expenses strategy of in based to for $XX incurred other B-SIMPLEX to quarter operations of The the

XX-Q March of you sales commercial product receipts activities the and of associated filed cash operating, As XX, that of operating for million. this Paula. refer balance cash plus provide us balance our management's our to With year. development from regarding We needs our will portfolio XXXX, had to it Form total additional I a remainder planned projections into to early for existing expected of will we fund adequate planned back $XX.X commercial will liquidity with with our fourth quarter turn that, XXXX. and the morning I detail the believe

Paula Brown Stafford

John. And John XXXX, first prescriptions that just as Great. the that, it's -- from of promoted Donofrio I'm back products of well. as growth quite in XX% quarter the earlier on Thanks mentioned growth,

we So, indication, pleased Novan's the leap poised If foundational for any of strength quarter scripts we a the first forward organization one. with quarter commercial is in growth. have are in

our advance to-do FDA an submission feedback forward XXXX, with to in and marching list. efforts our having continue We received toward NDA

launch We success and are planning KINSOLUS, preparing product if for of for ourselves approved. potential

And could opportunities. explore We future pursue, to continue evaluate consider our continue commercial existing for expand proprietary to products. our growth and pipeline collaborations we that development

this that the we geopolitical with landscape, EPI company for environment markets, evolution and quarter, Novan see at future energetic, and So, all focused addition the in the of stock activities Health. on in we of remain the excited closing, the our rate even and with our challenges interest integration based the the

call turn session. to back operator, facilitate you Q&A thank you. our And I'd like to So, the to

Operator

or question of Cantor Fitzgerald. from comes first the from comment Our Instructions] Jennifer line [Operator Kim

line Your open. is

Jennifer Kim

of Thanks guidance think you basis? you're operating on only year but XX is operating off. the my providing to believe do revenues have around from a plan? my the general -- there's to in still that positioned year-over-year year? we And off U.S. that first the for I'm taking that you through days. on the is on XXXX two previously, think this yet, I do that? full Health Maybe EPI is But a And you questions. year. territories know believe you basis, the start covered business And then quarter, full I I $XX.X the what not to that expect can said XX I second is, number in that question grow wondering, grow year XX timing course of to the increase is Thanks. million. the

Paula Brown Stafford

your going John ask the update first reps. I'll Jennifer. you, I'm to Thank take our Donofrio on then ask regarding Appreciate to questions. John provide growth, the one you the to and the plan on Gay

John Gay

of for first kind Thanks Paul, only the point articulate the Donofrio and to comments, morning, Based Keep to which on good though was that will consolidated XX able earlier this of do With forward. we my that, remarks, compare. say growth? is year upon the that Yes. to the prepared part and we we'll mind your March John Jennifer. what to a results, use in of full have going I in basis, metrics year-over-year Thanks respect question. expect

growth. on legacy the the we Health, relates that operations see totality to year-over-year just it as a in of EPI mind. But So, basis keep yes,

Paula Brown Stafford

Donofrio? John And Thanks.

John Donofrio

expansion, regions. plan going in quickly, think about of we regards four be are on And planning yes, just that QX it when We to seven you to Yes. we'll XX. XXXX. to to territories expanding start from from Salesforce XX that still In

then will And take we'll respective the in the managers to be time and representatives and the accordingly. regions reorganizing bring it so, then

usually in be to process. early QX is about it expect a we three-month So, as two to complete

Jennifer Kim

Great. Okay. helpful. here. And maybe question That's one more

to And saw of the that. I what that I'm extend quarter. were think, bit a extended cash runway I your main being the into fourth drivers able wondering

John Gay

collection QX respect the Sure, of with it as sales that of obviously, our that, to level Jennifer. kind Rhofade with With performance to in relates strong that activity. cash to acquisition Yeah. of the increase respect of

part the of as relates it extending runway to the certainly So, QX. equation that's into

Jennifer Kim

Okay. Great. Thanks everyone.

John Gay

you. Thank

Paula Brown Stafford

Operator, next? Jennifer. Thanks

Operator

Thank you.

or line of Our next from question the Dolliver comment comes Brookline Kemp Capital. from

open. is line Your

Kemp Dolliver

Great. Thanks good and morning.

going of books appear walk some the accounts you the $XX from large million, number the But number receivable payables. forward? show offsetting business up a just Just is on are the roughly pretty quickly, does how is could size. there's on through this for John, a Q It statement that going which to that income

John Gay

Certainly, Kemp. morning. Good

Kemp Dolliver

the I sheet, mean balance on sorry.

John Gay

yeah, balance certainly. On the sheet,

So, And over get balance. what as the roughly of collected million acquisition was to that X/XX down obviously, to came date we've $XX to it from relates receivable. acquisition, the the

quarter. was payment. we also, on So, from activity a again, the couple And cash the a of saw during of by again, those AR the collection Sato balances, perspective the key drivers that driven I Rhofade touched first

So balance that flux, will, kind perspective from you of if sheet was a AR. the of

what's to like to the the amounts gets the upon keep get the question directly level net in the part an your it future. in as going we'll that think accounts to it's against gross related have of that -- versus that there's the to going of liability amounts going offsetting are those company mind receivables pay I what forward? adjustments we gross dependent highly obviously, that be to in to mean, sales. I But

Kemp Dolliver

lot makes sense. That a Okay. of

Second strictly ongoing booking on in-period essentially question relates for to what the Wynzora revenue an you're revenue. basis? Is

John Gay

Yes.

the of part revenue that, pieces, get commercialization we that is that, certain for fee reimbursement also but So expenses. two as of the

agreement expenses. cover commercialization they with MCX, with and our distribution So, agreement certain

So, recoupment two fee the and that funded. the are pieces, comprised expenses revenue of also those is the of

Kemp Dolliver

are usually of not we ahead second year? the then look something to you're Salesforce think reorganization those. consideration that that take should giving with into bumps again, and hear And short-term Salesforce associated Is coming organization, finally, when the guidance. But we Okay. regard with half I at I there through the when

Paula Brown Stafford

I Donofrio, that? to Because would want John do address say --. you

John Donofrio

Yeah.

Paula Brown Stafford

I'll let John comment.

John Donofrio

We and reorganization. an look Yeah. at I'll be it to. a question. as glad expansion great than Thanks more

historical spot of Territories of So, lot you year. kind for in the over stuff. a reorganizations a I This targeted your go. on have in change been when where is plans of already been has we'll think point

of -- move fact a forward continue it forward. the keep period, the and our targeting as we strict our feel that kind over going we strong so And momentum three-month implementation that and doing we're will to

more So, an forward. I but to going see hindrance, opportunity do of not it be a

Kemp Dolliver

Don. Great. Thanks John

Paula Brown Stafford

right. Kemp. Thanks Operator? All

Operator

Thank you.

or question from next comment Our Zacks. comes Vandermosten of line the from John

Your line is open.

John Vandermosten

Good morning.

Just It cash me had flow you operations, cash on you -- million. one was statement. for looked the well, loss $XX but positive net had like from

explain the quarter. So, difference reverse in can second you just there and if that the will

John Gay

Sure. Thanks John. Good morning. Yeah.

the correct. So, the flow QX a statement. keep and statement in little of because it the yeah, mind, balances our flows quarter, cash that complex But is bit cash you're acquired this flow through way consolidated

and will of As the period, the be upon. to stub been calling net and that that -- are provided subject the cash balances XX-day it we Again, loss for as to relates had change continued we we execute it, about that acquisition we've activity for upon to able $X.X on million. and what we activity amount the based the sales expect P&L our to for can did

John Vandermosten

have Okay. on employees number update Thanks And now after us of can acquisition? John. the you you the right

John Gay

Yeah.

after So, roughly acquisition is XXX. the

Health on a But includes the that all it's roughly legacy EPI XXX. folks and basis, of Novan. So consolidated the

John Vandermosten

you, guys. Great. Thank

Operator

you. Thank

Partners. comes with next question line Jonathan Our Roth Aschoff of or from Capital comment the

open. is line Your

Jonathan Aschoff

companies, answer Thanks and you Wynzora and kind even if good you against, Rhofade? best of understand can sized wondering, guys I dermatological to your restrict I help that similarly us just competitive morning. was guess, edge

Paula Brown Stafford

Yeah.

Jonathan. thank -- think you, I

answer Donofrio John probably best. could that I think

John Donofrio

Yeah. Jon. Good are morning, How you?

Jonathan Aschoff

I am fine.

John Donofrio

much. very you Thank Great.

from full look perspective, a first think have product -- all, disease of I we we at, four portfolio competition states. a across our

the medical redness. Rhofade trading have new persistent the have in look We out the space the day, come competitor as you we company. of erythema market when in PFE facial regimen. have us So, Health the for EPI we look and exciting front it, that at of a significantly. basically in we treatment an XX% significant specifically, only see difference And at a And make that's we acceptance sell differentiates that day, Rhofade data shows using share on once patient's every over one

that. about So, we're excited

We the the larger about the launch goal -- also and and with taking feel addressing to expand. of also taken steroids. steroid real of to in single of a Wynzora. share market Wynzora continuing topical ability advantage the the market We've of over that XX% share, and expand the market, comfortable is potent steroid combination

like in use two those the that just through. field capabilities and we'll then, about And that that kind through Paula feel when execution expansion, seven we demonstrated categories. And now. think of So, the went we our we've

combined few professional We sampling help company robust of better. these medical also we And and medical even be data as and years, just our figure the then, education our and promotion we also last just products, and the awareness have feel like leadership that as key as have a presence the we go conferences, information, education forward. including will at and will the continue relations us we opinion -- relationships only to grow and over mentioned, expanded

going So, positioned well all not us like We one. feel those combined, areas forward. it's competition just the against

Jonathan Aschoff

about a when for that you're or interested Back talking you Thank you very had companies XX another. reason on in much one answer. April presentation, for you

of, guys? balance you Is kind balance and new the the trying is everyone interested you what currently talking sellers So, the What's to want buyers something? there? of to interested to Does sell Novan? everyone buy

Paula Brown Stafford

would interest interested, is what doing. people to things. question. frank, with them being and I wanting that the buy for platform we're of lot the -- and for us Jonathan Partner on like to a most that say Thanks be

interest there is so, some And there.

said, with that's sure priority approved evaluate that. and So, we'll I continue, SBXXX a for as making hopefully the us. and opportunities, Thanks to focus getting on ourselves for

Jonathan Aschoff

Are product? any little as wishing some to sell product a it or themselves maybe just to really that. Or and you cash is that follow-up of this wish sort sell just a And comes with them of you buy to well? who

Paula Brown Stafford

share any can't really too And Jonathan. interest. early that detail I to to on and Yeah. that, even any of summarize

So, think can I I answer I but it. the question, appreciate don't

Jonathan Aschoff

severe are with you maybe using many KINSOLUS lastly, given and both times, acne of that mentioned us this you can And formulations. topical somebody stops remind XX.X% Okay. an approved what

Paula Brown Stafford

-- API, different Yeah. they and there's a there's for so berdazimer the sodium, a is are same donor volume source. proton which but SBX different

So, very molluscum, and are different. SBXXX spot dual administration, treatment. And a they it's is a

So, be it's it so a put whole face. treatment, acne, for field each lesion. But the to just being on applied would

two amounts formulations very no different So, applied. they're being of and

used not should the for they So, one be other.

Jonathan Aschoff

enough. Thank Yeah. That prohibitive sounds guys. you,

Paula Brown Stafford

Thank I to another for on waiting? I text, trying one so have got I the don't analyst get that. have know Yeah. -- call, another there's we we know Operator, to a if

Operator

the questions queue no I'm additional at this showing in time.

Paula Brown Stafford

Okay.

them we Okay. all. then. will speak offline Well, you thank to And

Let there other operator, me no summarize are are no other? just questions, There right? if

Operator

That's correct, ma'am.

Paula Brown Stafford

right. All

Let been shareholders. we The summarize. fully into Novan one, integrated and propelled company. us forward me for a EPI dermatology foundational has acquisition just that our Health Quarter of leap it's thank

So, potential not have NITRICIL proprietary we which generating the has our do we know technology, only of NCEs.

and first-class supporting us team infrastructure to propel a have sales forward. commercial a We

for So, it with watchful exciting with approval a key Wynzora, very two launch eye Rhofade bag of and time in and Novan. SBXXX, the potential a products and is a toward

we're So, down X, it's go. to X, count a X, ready X, and X,

great you have and all week. thank So, morning, for a attending this

Operator

today's conference. Ladies participating thank for in This concludes and gentlemen, program. the you

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

NVN Liquidation (NOVNQ) 16 May 222022 Q1 Earnings call transcript