Revance Therapeutics (RVNC) 11 May 222022 Q1 Earnings call transcript

Company Profile

Participants

Jessica Serra	Head-Investor Relations and ESG
Mark Foley	Chief Executive Officer
Dustin Sjuts	President
Toby Schilke	Chief Financial Officer
Ken Cacciatore	Cowen and Co
Seamus Fernandez	Guggenheim
David Amsellem	Piper Sander
Annabel Samimy	Stifel
Balaji Prasad	Barclays
Vamil Divan	Mizuho Securities
Douglas Tsao	H.C. Wainwright
Rohit Bhasin	Needham

Call transcript

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Operator

Welcome to the Revance Therapeutics’ First Quarter 2022 Financial Results and Corporate Update Conference Call. At this time, all participants are in a listen-only mode.

Following management’s prepared remarks, we will hold a Q&A session. [Operator Instructions] As a reminder, this call is being recorded today, Tuesday, May 10, 2022. I would now like to turn the conference call over to Jessica Serra, Head of Investor Relations and ESG for Revance. ahead. go Please

Jessica Serra

Nika. Thank you,

on Executive the Chief Revance, us today Officer, call Mark Foley; Chief Officer, and Schilke. are President, Toby Joining from Dustin Financial Sjuts;

patients With financial statements will During to Revance. call, timing RHA priorities, our plans and platform performance, lines of call the of the our for Mark? OPUL and revenue runway, and and make and of related XXXX Mark that market DaxibotulinumtoxinA to and to the guidance, of Redensity Executive expected us over Officer plans. in forward-looking potentional this and services, strategy, approval the management portfolio and services, and market practices and Chief I benefits related cash strategic business will statements, our opportunity Injection conference approval a process products plans, capital regulatory operations indication, and including our products to allocation glabellar turn our Foley, growth demand for planned and commercialization therapeutic

Mark Foley

you, We thank quarter important conference delivering Good several results for productive financial XXXX joining our call. first on Thank everyone, a to you the afternoon objectives. start year very had and Jessica.

the Injection most FDA BLA and DaxibotulinumtoxinA our for importantly, First for for resubmission lines. glabellar accepted

date action we by manufacturing November, hard we objective. our date. our With and of completion the facility. first Class XXXX, will of to teams which This like clinical QX. X specific qualification towards And work Having date regulatory a is are for reflects the in received achieving deferred be This their package the thank a since the would of in cell of bank that important I key. acceptance, time was a a our include resubmission this XXXX, working PDUFA regulatory a PDUFA new operations, September all technical possible made reinspection in X, new and working milestone will

recognizing while FDA now step to that approval with closer one review facilitate potential We to their timely to the work year. a we will continue are this later

strengthen in objective approval that we on well issue capitalize drug to long-acting and XXXX. pleased balance and to asset to financing products Injection, a to $XXX raising With are believe Collection getting believe be completing us that achieve a with both allow grow with support market was that our and were opportunity in of runway our dollar sheet customer priority we to our our will bring significant cash the sales innovative additional our extend portfolio notes To this we services we net with positioned is program. key ahead opportunity our proceeds enhancing clip. increasing healthy at Revance. ATM into at non-dilutive can and ready our relationships the to $XX.X continues FDA neuromodulator multi-billion can In by the RHA Another Capital our debt our approved, excited market. the from million our million we an to our and and [Indiscernible] product end, offering are portfolio aesthetics, cash for financing OPUL. We and recent of our of DaxibotulinumtoxinA strategic additional extended priorities for lead runway activities Athyrium of order

we portfolio which infrastructure experience training or success. continue team, our our Together at commercial industry-leading our commercial differentiated X,XXX commercial complimentary corporate Injection has headquarters. for and grow, person by DaxibotulinumtoxinA over for Our and offering, strong sales our a is with plus strategy XXX center and proven solid believe anchored Nashville to accounts, foundation aesthetic

drug to product two we’ve support entered to of experienced needs. addition our is anticipated partnerships will California contract into approval manufacturing drug the finish help This we Additionally, substance production be manufacturing in in advance at fill our neuromodulator, facility. and Northern with of our organizations the

Turning therapeutics. to

ready file BLA successfully about are the be Currently neuromodulator. continue for FDA been for we program our lines. excited preparing our the supplemental November We our dystonia of indication glabellar for X approval for supplemental a opportunity last of completed the ASPEN DaxibotulinumtoxinA year and We following of treatment long-acting Phase to actively cervical in to for filing. Injection clinical have our

our for single-digits. our potential rate the near-term therapeutics long programs, has the growth well. which a from our encouraging cervical summary, duration billion catalysts which dedication continued the The business the quarter. as movement on priorities. dystonia had forward effective, have in indication a profile. data will ability advancing product to category, our was point and Given important We in turn who to We entry key. execution into our be continue drug lead Revance we and opportunity across clinical in disorder long-term be opportunity in their showed safe, for our and high In the that, remain in first me will annual to neuromodulator compound generally market corporate objectives $X.X look global bullish organization several to let all that to call muscle With particular, over the cover the and the our support performance on of I our and like segment. Dustin? would thank for Dustin members long-acting will

Dustin Sjuts

of milestone like we’ve significant regulatory I’d FDA’s with by start resubmission. to you, acceptance again, the Thank the a Mark. achieved highlighting

the and in track outcomes. the consumer RHA delivers our future. looking X anchor With not DaxibotulinumtoxinA OPUL and the to PDUFA for us forward once strategy, distant providers accelerated foster the will approval September long-term too date, our that aesthetic innovation neuromodulator for position strategy record product that provide of with growth and of cornerstone in to is are partnerships The build ahead. that best with Injection approved Revance and launch potential on we We exclusive years believe the

slowest the of Now over for consumer Despite period efforts training within sales national quarter the and $XX.X quarter of its for sales we our and launch. time $XXX end our portfolio over driven quarter aesthetic our the year aesthetic procedures, being grew first with continue up accounts. completing accounts increased to X,XXX the solid cross portfolio, our by year and sessions the the commercial sales an at just totaled growth awareness targeted first account performance. Across our live quarter. Growth reaching million Collection headquarters. the after our our products productivity to at million adoption XX.X% year-over-year turning RHA to virtual all and in drive RHA to total first to continue services of and of first

especially adoption training in over of We planned we education have and continually and months the coming Redensity launch as of prepare this experiences expertise the year. number QX to RHA of drive a product

We dermal of FDA a market the collection. rhytids rate are both of of first for dermal and lines. a excited the RHA that’s and the modification low and consistent to lip natural or Collection only Redensity perioral superficial the the to look has dynamic injection deliver filler most has of bring to rest stretch approved with

with optimize unique can We lip to injectors options fine be its properties, providing believe addition outcomes. RHA of treatment the tune injectors lines. the the Given treatment Collection, formulation will to a more product great

up payment continues GPV to was OPUL’s volume XX.X% XX-month first enhance higher by volumes and totaled The On $XXX hard $XXX team Turning the processed. transaction platform to gross million approximately million. account driven fintech our basis, quarter work year period from growth last a to platform, the experience. same in trailing

of turn, currently their new us are transaction and on to capabilities OPUL to allow financials. with business I’ll turn practices In working the value designed ability short, our loyalty in We excited quarter to platform building With for with memberships the improving Toby about to under and the development our and data. over first Revance. with grow its are practice insights future our All practice cover providers. we unlock help the deepen call relationships features to additional are that,

Toby Schilke

Dustin. you, Thank

like the to balance discuss in I financing our review activities the sheet. results the Before recent for I’d quarter,

Mark our $XXX bridge financial achieve we In option of a of at the as approval X was our another only purchase closed were all for purchase within And financial closing. to of to the Further call, the part of Athyrium enhancing the will support flexibility As with note ahead million key Tranche brief challenging for us uncommitted our strategy revenue a despite objective issued closing, approval we details liquidity. of go will with being XXXX. a of was highlights our X of the in within also commercialization XX and March, of option operating months neuromodulator long details our The financing neuromodulator. earlier immediate subject $XXX an the note will that pleased goal approval portfolio. transaction. this at of Tranche million And potential Capital as tied on neuromodulator market. at our mentioned, closing of we’ll with targets are of transaction available X into XX in to important available available agreement FDA but the to be serve Form filed rest $XXX million the in the growth support the but million not today. neuromodulator, plan. XX-Q Tranche was our to provide I an FDA our our term our $XXX of of agreement agreement aesthetics months providing our

our of million available Injection can runway cash DaxibotulinumtoxinA and committed be FDA into $XXX – notes lines, $XXX the in the million XXXX issued With into an glabellar additional approval to XXXX. for extended for subject

first of raised at to effectively in that during which in proceeds cash the stock $X.X shares our equivalent initiated offering net cash, million ATM year-to-date common quarter $XXX and was was addition issued, Total $XXX.X $XX.X million from financing, In short-term million. XXXX. debt the we our end with total of quarter have our investments program. completed million was we raised ATM

being FDA and capital DaxibotulinumtoxinA a unchanged, allocation gated remain be time measures priority. preservation continue discipline to cash the For for the that approval to are Injection will our of

first our increase to the Revenue period for primarily of for were from growth the $X.X results quarter revenue for included collaboration to $XX.X $X.X the of in revenue the was partnership the with first expenses the Turning compared last revenue Revenue an our RHA of XXXX. Operating in dermal quarter quarter. from same representing product period of increased from Total from to XX.X% $XX.X million the and of first million Collection platform. fintech million revenue same the sales collection, million $XX.X was year. of due $XX.X $XX.X RHA million million for service million Viatris, fillers.

development last measures for were costs cash and related OPUL. partially product quarter result due stock-based offset to and our of expenses period expenses our operating million depreciation compensation, first neuromodulator the amortization to X% same related decline for a pre-commercial to year, R&D quality activities as preservation manufacturing higher Excluding a non-GAAP the over $XX.X SG&A by lower representing and and

expenses manufacturing As a R&D costs primarily DaxibotulinumtoxinA are be GAAP expensed accounting for for are – a is Injection, drug reminder, project cost driven we to by XXXX in period as until product expect the standards according to approved. which

for announced expense XXXX. As we are our GAAP confirming operating previously our expense guidance and for operating non-GAAP outlook,

Finally XX, call April approximately with of stock XXXX, $XX.X fully the of will And Revance diluted million Mark. that, shares, of as to work debt. the outstanding or convertible million turn shares back impact over common with $XX.X I’ll excluding

Mark Foley

lines. us anticipated Thank with our Operator? glabellar ahead. for DaxibotulinumtoxinA a on will are the and our top regulatory, all pleased With up priorities stakeholders for all questions. I’d FDA on for XXXX of call for delivering opportunity we the like positioning Also, continued Injection operational Revance. to support priority focused from being highly remain closing, We the their now financial you, for for Toby. obtaining In and I that, have our progress open we meaningful with thank for of approval strategic perspective, made growth

Operator

[Operator Cowen Instructions] the Your Cacciatore first question Ken line of comes Co. and from from

line open. now Your is

Ken Cacciatore

Hey progress. all the team, congratulations on

Just questions. a couple

approval, accounts actually if Can what is you bit – a about entails you see DAXI a past, discuss a you absence going? about in Thanks The sales know of second I on us little kind And should team we just you give as talk much. and assuming you then you be breakdown. you of a will kind early, I now, of sales go metrics then level lastly, is in to wanted should talked phased approval. just with have about is of where us maybe know so Mark, think what on. first to focused sense just the can go that training the And of that XXX% of of reinspection what launch then

Mark Foley

Ken. Sure.

off, a First you I first could about highlight, reinspection? something little the question missed bit,

Ken Cacciatore

yet. Yes, actually it’s just scheduled wondering if yet formally been scheduled

Mark Foley

Got Perfect. it.

Okay.

order. in those hit me let So

not were we’re did that ongoing the the to the from and one our company Consistent review going We process first interactions that of COVID requests the the environment on public. given with FDA. or made sort of So the status with policy, be reinspection. of break commenting on FOIA some BLA

to we comment So, felt like we that. needed on

the but sooner? Of hear with will of now, to, us you’ll and really anything responsive So the FDA would something also course, kind out, we we continue between time prior be PDUFA and that hear going we then the approval. we’ll put hear to that be our date, material planned or action from support next company to policy to possible around should as stick if we’re as

be the In because to if but we’ve about the you of think metrics, terms talked a opportunity is performance and has in of it the of launch its profile different. going phasing the DAXI DAXI about, of market, it, long unique

we it’s it going hands in a phase world that them in group we make launch this targeted to let be so use use that of the it critical of initial practices to real And get really sure a to setting.

So, a is be group, we’ve we’ll going that to based group and the that broader about to launch we little a where phase have. early the of on then this in hands small historically learnings the talked expand phased

where right the the terms the is this reconstitution is competitor this different of the brand performance other think long we there’s or And of, over product. to products So, of way in sort than difference the no build term.

the and what all line And of think then built, it. And where of relationships we now got right outcomes. accelerate did term ensuring products that both then launch with too. is between sort The news, started product. is with long so, once consistent towards the a over get the to very launch, And RHA to geared We we X,XXX foundation we our can phase we we good right fillers, with this we’ve have way the very start services. it’s accounts

accounts we this shortage we’ll of that we Once initial So, can leverage. no have phase. get through

the kind think talk then to once in start of of certainly side the some of it, we And more we’re feel we’ll about, of the rollout. that On metric is. early when learnings we’ll I the, ramp, from phase, of the sort signal ready early that

with the launch. of of are organization force, right, got XXX% sales going terms in more that a In given start staged a you we’ve we’re roughly approach sales to this

ready thoughtful force. in into make that broad in we to accelerate we of We adoption, that with, what’s expanding a Once also next want of territories some that expand certainly of will look we’ll time so right the that way. and commercial phase sure sales very we’re but account changing feel like do to terms up pace the to that the we

Ken Cacciatore

Thanks so much.

Mark Foley

Great. Thanks, Ken.

Operator

the of Seamus Your next from line Fernandez Guggenheim. question from comes

Your line is open. now

Seamus Fernandez

for Thanks questions the guys.

quarter. the So congrats on

bit wanted launch. more Just get of a the to little think color, you maybe as about, timing

from broadly the happen a need maybe force of hundreds on anticipate through you to to September point be execute maybe happen that had incrementally. actually So, rollout but experience. I to to you if the maybe going physicians, expanding, the in walk just, just measured, it’s we us launch the can launching, of needs on think more something would full then of would you in sales just through that training as a and walk to kind were us and And got the know concentrated to PUDFA about being help time approval I And past then Mark, sequentially then X, talked initial officially? group what actually you when and see, can in physicians

wondering what’s in seasonally are seasonally, a first as if the second didn’t or can just quarter, how then fillers, reasonable point very of typically just performance bit, good those you kind the us just the I halfway quarter, quarter quarter in trends at this walk really you about, little expectation. were through looking weak through a numbers on Thanks. what but that’s think lastly, I just weaker know we’re And talked consistent quarter? with strong,

Mark Foley

beginning after turn question sales second it on – then the question, I’ll first and the your that. your to answer of We of Dustin then hit Sure. over some

the approval. in So, of terms rollout, post

So we everything like of sort X time approval said, be away so then if can you of bit theoretical, going packaging there’s after the we the and that approval receive put final receive squared on a a and as labeling get to September to we little boxes on the it. and ship that

us to then you the talked After you we And going logistics a that side that for phase, use in to get we’re that will of that maybe real providing sort other injectors force logistics the have levels account We sales to given got training initial tips about sort important all you there a to experience provide that then have and we broader can would talked is them, made get that training to the sure of concentrated make getting and be So move hands setting tricks will think size any it. learn said to to with that it learnings that to product. for in engagement to of associated a little that right a And Dustin, roll then in and XXX in it successful we’ll be our we’ve and again and and world Nashville to few be this the that about following needed world a profile setting. in it. the, high the investment group pretty with outcome. able training physicians from a to education and, group they group, think physicians broader very And, feedback out. a roughly again, bit small their of next we and make weeks about. of from to we’ve on and it sizable that, And process this that take take RHA, the refine with, to class so a education talk learning want or center, customers sure phase performance of, group with what that corporate will that you

Dustin Sjuts

Yes, and little the Mark. bad is, extra here. had Obviously we’ve thanks time good a

right? prepared data already are able So, training data now. clinical a We on train as force train to on sales But market and perspective. toxin very the from lot of we were can well landscape, the those well are as that we a

brought constantly kind with with So they of speed to new that have up and clinical programs getting the ongoing. to that while up speed all been are things

So, like got from we’ve sales we jumpstart a training feel a force perspective.

bit will We that them phases those sorts but think do bring a we labeling, leverage some to experience with be do the of the to training And with those then early numbers made more also in messaging, numbers expand of be them to able these allow Mark the us investment, significantly said. we’re with preview. that the than the able in of launch accommodate that our train Nashville that to on things specific we RHA tandem together to groups. potentially efficient can to marketing We’ve DAXI, and we’ll believe I very

the the a be feel launching focused really to position product but we do will started we accounts get in with the, what’s RHA the it right the right So with as be Mark, hit trends? early. we’ll like good on outcomes, obviously

Mark Foley

Yes.

that I just fact based sort less QX degradation what you in quarter, typically in I mode. of And And encouraged out seeing and and think were noted, on growth standard. sales of relative QX trends. we’re that was, seasonally reflects question the there mean, to the here, so, market RHA we’re that is QX still the we a of Seamus Yes. down industry as is on in QX. certainly what And to launch than QX the our performance the

SKUs. the a encouraged generating So, launching by launch $XXX be we three launch we here over And, we’re million continue seeing. to what a almost into little from a are, year

the proud what So, team we’re of really out has accomplished commercial there.

the by that be market. to the trends encouraged continue seeing we’re We in

as demand goes. of rising And but interest continue continuing a market’s, good to COVID injectables. question market the I around out know for of see there. a there, QX, there’s we’re good we’re little like sort rates so And thus growth steady resurgence, bit in we see, she good far to to and feel continuing

think to continue be terms cautiously as So, the perform. market’s how year we injectable going the move through optimistic we to of we in

Seamus Fernandez

guys. Great. Thanks

Mark Foley

Thanks, Seamus.

Operator

from Amsellem comes of question Piper David next line from Your Sander. the

now is line open. Your

David Amsellem

Hey, thanks.

up So have on couple the the just about that a number growth the market sizing about franchise? growth out And two, Redensity. that the just some expands here. which overall potential even Can just specifically you sales So high strong market. RHA and that’s talk one. peak extent of level of some so toxin the a and first how opportunity smaller strong of number We’ve then leaders seen you’re question pretty players with

I lot that is expansion the the is, at and from of efforts to going and kinds of accounts, prestige guess how question you of growth commercialization here that, from thinking that targeting do How inform? you coming the of that be just as a So, Thanks. you’re coming in surround see DAXI? does your early that an initially, just about number injectors, you’re accounts looked

Mark Foley

have do we hit think Redensity. So, size first market it might about how Great. want and what Thanks, one? ahead your I’ll Dustin, How from the David. about, go expansion that answer opportunity? we Dustin and question to an

Dustin Sjuts

David. Thanks, Yes.

United that about the to launch States, the excited four our the the us early icing the introduction first and a tease of of cake of RHA market variety practitioners allows address is from of really kind outside superficially a company unique in feel from use changing the by of the of perspective, really locations. the FDA only ever the We’re we’ll filler product marketplace because that needs United RHA it’s out that be indication difficult that indications. the of so which kind in really States in unique be on dermal effect to injected indication to fourth in labeled which and it allows kind gel gel market has of It for and the the is able be first will in them like properties the Redensity. line much mid-dermally launch, the market Redensity is of since across that’s We

it’s so to innovative and train space, continue fit. to have to a new in and to the on, allows us And continue evolving address needs. this also about great be something It talk

And so entire feel being relevancy we helps product. about of really good that that it shows and strength continue the us that the of range product the

Mark Foley

in on regarding Yes. second if the market toxin that, and same time, from? And drive then of a coming sort question, growth facial strength an of, going the it combination trends, right? I David, at to the your over that I continue And I there, industry, it’s to I think to seeing think all forecast you and see growth collectively be we’re think today. category. we the good the the factors where’s to going we’re mean, injectable look as continue the think

are engaging of that sort rejuvenation. younger people some in got You’ve

market are retain I deciding and the toxins also in best that neuromodulator finally that’s out that of function it’s with think engage to and they our with market come a narrative you’re a I see themselves. people to think more expect sort healthy got, good of would version because You’ve the benefits awareness, stimulate want to people competition long to more in of we acting in around overall. going another the going and aesthetics, of And more

any don’t catalyst know unique right of there’s that now. So, sort I

more effect into of further the bringing fold. it’s and the people the investing dollars industry think I collective

that of is competitor Some taken. the by increases growth companies some of have impacted the price

in I of seeking work, this changes resonates we So, with don’t a value survey strategy. you’re proposition that think the long-acting of people really to toxin I When as that continue lift not well. treatment. our good think a only market done but procedures, due overall increase we’ve seeing, believe to some our are any neuromodulator, price of

the we need long-acting And be proposition strategy place strategy with interested growth, we’ll overall time that, right that. see be from subset growth so even value that, to think change that is going the we’ve group continue neuromodulator. But the is of had and feel any we a we the that, that that for of benefit to in don’t a in market continues believe some healthy the we and to to

David Amsellem

Okay. Thanks guys.

Mark Foley

Thanks Great. David.

Operator

from from comes the Samimy Stifel. question Annabel of next Your line

Your now line is open.

Annabel Samimy

Hi, thanks I some with as that different required. for as is of that anything physicians product need duration? was question. profile that on You on concerned, be the us, you share wondering the already understand far us there reconstitution you that’s there’s taking to is trained to my really training outside can be mentioned

I new past. the others in know for up neuromodulators have tripped So, training

this, others the if thing? where going one, but is else kind And strictly my you the based And it on it’s, to even been questions are physicians guess so how just that’s, have on Thank that So profile current answered. can sure this manufacturing you. that guess do is And FDA by have changes you there you tell feel you’re you made I this here? do of answer been about to easy for how review FDA, the those not is has negotiated adoption? train number one? two patient barriers question what then And i.e. reconfirm, everything the the I label strictly then manufacturing us the and a to

Mark Foley

Yes.

first So dilution companies marketplace the I think other and the with of on sort launch variety. of having the into benefit training of got mean, reconstitution it, we’ve or a I seen side different

So, of of we’re importance sure. making acutely the aware

is the I think performance have big the that we profile. of unique advantages one

the we behavior to neuromodulator our their somebody based different? answer you’re time is, asking that worth is or something it doing of that question on believe the new, any the time in something learn duration So in change And to is profile yes. invest

aware very others. are dosing, their fact dosing of is we has own right? different So So, our that, everybody than the

what sure brings share sort that reconstitute, And into. this of make for world the of to in injectors and leaders then strategy group to that with working of we the go then to was our clinical that to those of feedback some pattern get to that exactly trials. that again group And so of field how we injection next a use small need back that understand us with real sort learnings sort

And methodical. earlier, why got of we because it’s good so with And we that believe player how different we’ve opportunity good so, are than we the clinical it’s outcomes, and the we that’s be we very do thoughtful revenue a in And ensure this we’ll great as talked launch outcomes, really we RHA for market. much get be generate much It’s too we think clinical not meaningful frankly, how out being of not very to the initially. gate, us that, fillers. a

As the line is, filler injectors there. some bear physicians that, They that, it bone if made. the you as and how good are things not that tweaks go look some and these at do quite on injecting have to been tend sometimes there RHA deep as have

so to And on thoughtful had sure of understand label that’s showing subtle the that the the to think we’ve in that differences. be people really make remaining I And numbers. while up performance

trying so, of we’ve to to that learning chase in place. learnings, the we’ve sure that also out the gate up And based strategy on versus we’ve right set make think number. those are we believed And got a it we

observations review, the the manufacturing. observations, waiting provide also already qualification previously the of the They new for if of five us at that, what to indicated cell for where the A On received, the the agency. was one, else had in bank. FDA, into to meeting. the Type look heading that, the terms everything inspection, the stated addressed do CRL the we second were been deferral we working And of agency to had by limited we a the that you we We were in terms were sort wanted

So, clinical label. non-clinical CMC

And and agency the looking with very where about so to are our forward continue to date. closely good working we we feel are towards PDUFA

Annabel Samimy

the the I point follow what initial Is know Like And how the feedback hard kind should understand to have on the product Okay. the initial period just I the from performs timeframe, we let’s positions to more or question. just this watch terms get over is say. in just take if that could duration performance, one were. sort at satisfied it, see feedbacks a longer? that this about ask a the think the of on put for want it’s course to you getting of going of like to but how up patients some – I training and is on guess, of training, training months, six the timeline there, you’re Because I it

Mark Foley

sort Yes, the no that’s given product. demonstrating amount of profile been the clinical duration the physicians, data I that of generated, talking think with our of

where patients that, in sort is. that result of of of they other turns for they’re to or inject. acute wait whether a outcome they couple look They you very the they’re wait they’re acute getting can to make any looking sort did not of to series what whether I of think look, that sort you actually is right? inject think for? So, you’re what in get a not days, see wait the they sort that that or So, do you see, that you patient, interested tweaks need and going get we to

I get the think benefit on going doubt that to duration. we’re the the today of

if want so performance. don’t that you Dustin, really anything? add acute to know, And about I it’s

Dustin Sjuts

No, the other how is, I thing practices. integrated think Annabel the they is

You’ve to make they how when that on seen for charge satisfaction the don’t a get lot launches for integrate. something best how to sure to our to know in get what fail, They you is? it. How the This charge we it? patients the then of to want So, to explain call also don’t only it don’t it. that is we’re at and they to And How just value product, two the know profile, on know invest if exactly everyone. because but year they like these how product look early it’s not of about it’s, about to model, outcomes to how feel o clinical neuromodulator? schedule a them? out times we And most going

want then sample how with you more that them OPUL wins expand You’ve the to of seen partners and thousands the other to value practices. DAXI drive which quickly We on as We believe go of and take accounts, metric to that’s we the and launches in make product can value surround go how off them as thousands latter. convert trying driving, strategy versus it successful the accounts then of where way, those kind is in we’re practices that into feel they focusing the determine to is the with and successful think many deeper like directly and dropping our a as those that RHA, possible.

Annabel Samimy

great. Okay, Thank you so much.

Dustin Sjuts

Great. Thanks Annabel.

Operator

next Prasad line Barclays. Balaji of Your the question comes from from

now line open. Your is

Balaji Prasad

afternoon. for Thanks the good Hi, from Two me. questions.

biosimilar question expects toxin competitive considering partner’s after present? dynamics? any market has comes thoughts Thank your at this and be prevent like maybe that fame reason impact would of would claim around delay And share how you importance [indiscernible] [ph] or Second to a you with How on in if to of that with around second today. project us Botox the Evolus Is think market couple DAXI all that is get a Assuming landscape, altered biosimilar can quarters been to out of Jeuveau. consider do there it called I snap? you. loss similar any this Firstly delayed the shelved your could durations? on

Mark Foley

Thanks, first, don’t side we the then so the landscape second hand the back both Why But the manufacturing first use I take substance one in it, I’ll competitive on of Dustin the program. on to and biosimilar delay Viatris drug the the to take there, and our Botox Balaji. it for same stuff.

agency like. has path to very injection, looks continue there’s DaxibotulinumtoxinA feel move our we’re hearing program. about from for been collaborate We continue based which that impact well, to what the the really a the But of on The what encouraged. we forward approval And like so delay for direct teams impacted forward.

And really so the that’s impact. been biggest

to more a that the with want side And that’s hopefully, so you us much And then put related talk on of deterministic but to approval timeframe, competitive if DAXI it. will landscape? about

Dustin Sjuts

Yes. Thanks, Mark.

So talking they together. clinical I you’re program Yes. Evolus high dose, believe that toxin Balaji, put the about

new. specifically right So, market efficacy this in the that decades were for profile. the if The have is picked for were picked look that the at, not neuromodulators been doses landscape right the safety you because and they drove

being at of look product therapeutics a started. more higher dose kind lean be towards a a was would You efficacious. if There

having aesthetics the therapeutic You’d pricing. in combination better of that kind actually of the because of off be

formulated the amount market high that be the that And the with fact same first dose efficacy out the be peptide is noise neuromodulator will there but currently an that with ever is today. profile on stabilizes of active feel product fundamental delivers penetrating that so to cell we the the DAXI is consistently, the product and

throughout be has think a aesthetics, this in clinical across We profile we in product to both find in differently. And it large programs, is noise. DAXI a a acts indications so and that proven lot aesthetics multiple therapeutics that

dosing paradigm. a not it’s So

impact had other but be we there’ll or think there, a those studies out these higher would’ve think more we so or larger a dose of if they with have the could of well. because Botox market already, effective chased noise And was have dose double product kind that the, or that kind done Xeomin all products dose on that as

So we forward look the of into and DAXI feel really uniqueness about market. good to getting

Balaji Prasad

Thank you.

Dustin Sjuts

Balaji. Thanks, Great.

Operator

from the from Vamil Divan comes question of Mizuho line Securities. next Your

open. now is line Your

Vamil Divan

play material of going sort things, but say but you’re most much Great. clarify, of commenting can’t any you been around by the mine taking also, And know I regulatory or, too Thanks updates. of for like you I to side my asked, this to you be will giving did on play just also be but questions. think mentioned you not have you before,

we questions a want sure just of make clear to on So, this lot I because get we’re issues.

of threshold inspection? to any Just updates? giving you a would through this be you for what announce you the sort an of as findings it’s inspection like sort point, they’re coming a you’re you or at any of you for trying go did would when that when there’s announce completed the get from sense last time, announcing what process, So you’ve would considered

Mark Foley

Yes, I desire where fall appropriate ongoing to the Yes, investor to company information can comfortable of that. FDA the to normal whatever get of kind it’s appreciate we’re we Vamil community And kind of on going providing. engagement. think certainly to comment from we appreciate sort no back policy that we’re

a place like, things as not? that that we We routine the sort date look now we’re PDUFA inspection taken of wouldn’t have to that working So has or date. Hey, a or typical given at

be X we or Our official that indicated an once scheduling or be notification receive, if something inspection and X, else to the regarding receive next agency to it’s CRL of we our facility. deemed inspection the we our expected inspection, material. We’ve we before were of September Class material, resubmission would not that expect on from a already communication would an

decision whatever in deem would material. were and date agency happens something we from additional not that to so give our to And a we the received, or between updates that be PDUFA either or expect first the any we now event

Vamil Divan

consumer we that inflation the right. appreciate And Okay. earlier curious that you how you and thinking see in spending. premium detail. sort Or are from I you this? basis in about on above said wise away seen where a but you’d you I’m of current Do something you’re a know you’re still price? raise come just thinking still what might this just as how as the just other months just of we’ve follow All competitors your up, Great. or the side helpful then of quick priced Thank color sort for think are and impact? So additional few it you’re where this about on months toxins pricing maybe on thinking of would how pricing macro potential one a concerns out? be a any of market about sort few launch,

Mark Foley

profile that based Sure. that the made of lot unique in of the and physicians believe a research. again, very thoughtful and We’ve been how of the We of a and We’ve marketplace. a investment on the it too, that it spoken premium pricing. will we’ve product, in innovation. sort duration lot around differentiated warrant given done We’ve market is with command

rate, making or the and us see don’t be on fairly I proven so, hikes interest categories resilient. And short-term decisions whatever, any injectable based to

for that if given of room insignificant also market consumers believe rates not be we will be are them. there profile us make value things in charge practices to that they think an that there’s offer to anything looking number an that sure going for for the a rise premium, there’s a charge they frankly the and we spend. other that to So, more good to get interest to dollars where and and opportunity consumers value more And duration frankly

right market. obviously the strategy that margin are details a of we’ve our but that not premium given got that pricing in value we we think practices, more that will competitive of getting today’s more So, charging making and for balance fit consumers launch reasons, until and

Vamil Divan

you very Thank right. All Okay. much.

Operator

question the Douglas Tsao next H.C. Wainwright. from line from Your comes of

is now open. line Your

Douglas Tsao

the questions. clinical each for needed, long, Thanks because afternoon. And Hi, just I that comments long, trial? do for the but to that physician around the you’ll of fact are of I’m be to number with the this something of long sort initial in how in curious you of some especially accounts how doesn’t individual Thank given sound good it it’s product a fair on like going missed that group that training terms earlier, there taking you. the out to think necessarily just might but of have take able have the experience roll during had customers,

Mark Foley

of it prescribed only was were so. there’s facial protocol sort of a clinical only remember handful do We the to Sure. or a some no Phase all did And part group trial, that the that, four had they lines. there’s per XX of glabellar X sites and I work injections that so Doug. lines, for was or small while upper the and think that Great but certainly question,

that with it use they going to use those have going broad. be they’re So, even which more currently products, experience the as product, want other to to is

product, And – desire that sort couple feedback so after given of the use settled of how to what’s a that that of days. sort get of look

to in that’s cycle be this little that and take that initial through why of it’ll function the into to with all where to we’re a group, preview probably bigger sort going they’re those stepwise take going bit little making group, learnings a that it think we’ll bit then small that outcome. focus some I sure on of get right and the we want roll out

phase you, to to we we’ve able got move this make that. base of is on that we growing to this customers be but initial focus sure continue right forward a you the said, outcomes, we’ll think move compromise in lean we’ll like as into. as again, I as then So, really we don’t update forward, strategy And that we

Douglas Tsao

that And significant those be the presumably of be? now? RHA initial And what to going overlap that’s right customers will that group with customers

Mark Foley

Yes. correct. That’s

you at on where are less we If sort sort on strategy outcomes, said our of customers of end targeting we’re focused look that the and higher pricing.

So the that used fillers. RHA targeting for is the that same we’ve targeting

between overlap it And definitely a RHA of go our will so it. as majority be customers into we

phase it’ll information that that’s kind will we’ll about of this as In of able we’ll which share feeling be. group, with I of as of And be said models And that first you group. think the to then your into that we get move feedback. initial long a this the of group, that think terms to quarter initial preview phase how call be the second it kind timing get that once or learnings from we a will we that that so better

Douglas Tsao

Okay.

of that broader preview And And – sort move sort the be so after then phase. a that in you phase of into would move would initial will launch. we the then

Mark Foley

correct. is That

Douglas Tsao

you great. much. Okay, so Thank

Mark Foley

Great. Doug. Thanks,

Operator

Your the [indiscernible] next from of Blair. Jim William line question comes from

Your line is now open.

Unidentified Analyst

our Hi on John Tim. team. for so This Thanks questions. is for taking much

us. Just two from

order assuming And change and that filing, will wondering just BLA, that around going any that’s how latest Is RHA be something for on more about supplemental end, months weeks assuming growth color you next that profile market for you approved. a for second something on give build maybe the use or longer? So timelines if going in your out line little the wondering the the hits Thanks. DAXI franchise? or is DAXI just first, year of how can day the us year,

Mark Foley

John, first, take I one. don’t the let Dustin first why So, hit the and one second then I’ll

the to already complete entire we’ll we’ve complete DaxibotulinumtoxinA – together, the dystonia, completed submission filing that needed to for for So lines. clinical we’ve pulled information that glabellar Injection program approval post of the that supplemental the for cervical

X occur a post-launch. programs additional paused therapeutics to quarter as of given the So, spasticity, we preserve a upper submission runway. our phase, CRL that cash expect program in clinical the this would that we I then supplemental Phase limb And BLA completed within will during in

And we of sort so of then the you. one that And once revisit into then I’ll CD, step therapeutics we the want to the Dustin, we’ll kind we over next to on market, file program. the what’s first take get hand

Dustin Sjuts

we’ll in talking Collection, Yes, of kind we further now remain have coming future. trajectory about the unique indications right, really and the RHA with four indications two gels also of long-term different excited the in

DAXI? force that expand also but at will terms time priority of so in yes, have what’s the this do look between So, the the feel sales coupled different does bag, does potential RHA DAXI? a And unlock how to DAXI looking And adding for reps. then opportunity at And we’re DAXI trajectory. How potential we about for in bundling how RHA? unlock right you and really with, good the RHA

will that, You’ve compete got which of ex-U.S. where talked a they market healthy to having states. of XX% higher. kind the long TEOXANE about execute growing they share continuing potentially dermal and against us a the compete kind us allow in filler in DAXI in having directly We’ve markets, and

adding feel trajectory to about the good OPUL then stickiness products across the ensure really we So, and portfolio. all really entire of those the

portfolio. wrapping of of in and then launch cylinders So, of the training full efforts all should the our with we be hitting on DAXI kind combination together

Unidentified Analyst

the for additional much color. Thanks so

Dustin Sjuts

Great. John. Thanks

Operator

of Rohit Your from next question comes Needham. the line Bhasin from

line Your is open. now

Rohit Bhasin

question. Can for this of to plan platform out the X,XXX and are phase OPUL? a you out the for bit of overtime the is talk how OPUL Serge. many many is going And HintMD about and Hi, users taking you rollout deal Thanks. do how the Rohit Thanks how on my accounts, HintMD platform? using

Mark Foley

Rohit, Yes. Mark. this is

what So, of this I look were kind and if step back year. the on goals for the launch, at

talked being practice to help have source step the a access we the becoming as facilitator about payment insights. to provide to So, an data important

to So, the also have we’ve payment as evolved turned the function. system the on we now where to well. OPUL facilitator We’ve catalog

provided performed, level flag source we have that that can were these again, data. the So when services checkouts practices are that

rolling and payback functionality, catalog. OPUL that about out is year this with So

a reported on volume. And QX. growth off start processing so our we’re good We in to

HintMD to the good that, We’ve again, the growth the the we’re we volume. trying have accounts the about out and it So, we’ve seen report we very adopted to in over continue indicator overall on of of as metric it. been just health that talked successful for sure that’ll also a business. so that platform an And processing the has those and we’re that size OPUL well right and migrating HintMD underway have make platform, that accounts to be

HintMD And over to those lose so expectation if don’t way most over that we the break momentum along or in not people we want we sure year. is of HintMD as anything to But shift this that to OPUL, OPUL just the migrate, accounts from will that accounts. our we make all

the out X,XXX of that broken talked on a measured just the over number that the like in nor getting so have new two specific also platform And we we trajectory, been out then we’ve to platform. accounts not between in catalog RHA We’ve and continuing X,XXX accounts and basis. value that on said drive further practice and on-boarding within the and turning very insights, we accounts separately. We’ve accounts about the up the running this the have in consistent of of we’re accounts, quarterly sort broken OPUL

Rohit Bhasin

Great. Thank you.

Mark Foley

Rohit. Thanks,

Operator

this final at time. comments. Mark the call back I turn no over question to are There will Okay. for further any

Mark Foley

Thank you joining Great. call. everyone today’s for

Healthcare William We have Conference. the Blair upcoming

be there who directly we to forward that meetings as you look attendance. those are seeing of for we And us through So, at in requests to conference going welcome your well.

thank free that, like schedule of Jessica reach today’s out With call. if time. feel like you’d to to So in you for to participating I’d to some all

Operator

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

disconnect. now may You

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