PLXP - Earnings call transcript Q1 2022 | PLx Pharma Winddown Corp.

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Operator

Ladies and gentlemen, thank you for standing by and welcome to PLx Pharma’s first quarter 2022 earnings conference call. At this time, all participants are in a listen-only mode.

Following the presentation, there will be a question and answer session. Please be advised that today’s conference call will be recorded. I would now like to hand the conference over to Janet Barth, PLx Vice President of Investor Relations and Corporate Communications. ahead. go Please

Janet Barth

hello to and and welcome today’s to update. Thank PLx’s everyone, XXXX call discuss results first conference you and quarter business financial

our Before exhibits Investor Relations our of our statements you results recent release for me filings risks internal www.plxpharma.com to such say be period conference and Form section actual from materially could we to what and we cause today. X-K at quarter as to can references we most filed subject the first differ call company’s models during the SEC earnings uncertainties that are in found the about forward-looking that refer website these risks begin, The let Form or to on XXXX to statements, uncertainties, or objectives. outlook revise contain statements. our All and performance, annual Risk ahead any obligation of update and including XX-K. our our in Factors call to this term long detail forward-looking more on section including report company may call. the remind no Please our This undertakes the regarding statements

principles. have amounts or most contains Additionally, that effect amounts measures discuss adjustments measure prepared are comparable the directly generally that excluding that accounting the subject with today certain of are accepted exclude included to the information will we financial in accordance in

refer to website in an the reconciliation our to Form to as X-K table most comparable GAAP, measures the a exhibit filed please accordance earnings For available included in press presented our and on release today. our with

and I to now President topics the please Natasha related on XX, may or filings. the press archived may recent be to held XXXX. who Since announcements to so releases webcast, and have of Giordano, made turn replay call was and PLx benefit PLx’s the SEC the those For CEO. then, this call to the company’s over will refer May most recorded listening discussed,

Natasha Giordano

everyone morning our joining call and thank you Good today. you Thank Janet. for

who We their morning, our perspectives Vazalore. guests fields on call offer will have their in special unique this two joining both experts

Our and success experience Mucinex. and like running Executive Chairman several first is with EU, Benadryl, the veteran major four guest consumer is Mike Voltaren pharmaceutical brands with Valentino, businesses. decades associated nearly of our Mike of multiple industry and

is Our second guest Dr.

a first Ali, based Asif of performance, Rita? his in who aspirin of Vazalore and in Manufacturing his our quarter he preventative including financial discuss highlights has our Chain update Houston cardiologist review and practice. our why off influencer To Chief our Head will as an will and of Officer Rita Financial cash start O’Connor, choice call, position. adopted Supply on

Rita O’Connor

higher financial lowered Thank awareness we unwavering however, and such not pressures to businesses Vazalore mission achieved everyone. the Overall, professionals. chain reflected growth and we drive are quarter our remain first expenses. on efforts hello factors we momentum Quarter in sales of manage to our and ours, like healthcare over you to as results challenges. immune Nonetheless, extraordinary labor quarter, and for operating expenses; Vazalore dual our consumers impacting build among macroeconomic judiciously and Natasha trial our and the sales supply

retail Vazalore sales stores XX%. eight trade ’XX, in to of us $X.X fourth total stock months the ago, million establish realized brings During net since both Beginning compared nationwide. quarter in the the as as $XX of consumption million to net approximately increase in metrics of in and quarter first saw Vazalore growth first a including market. launch its to of a continue we revenue, we number across we initial million the with over quarter, in steady sequential to This revenue in of sales Vazalore $X.X the XX,XXX

in and XX% of and sales February. promotion represented Our XX the which retailers approximately Heart Month the count a in total XX in milligram to XX display during count shipments Net quarter quarter. sales with sales of conjunction net SKU, reflected consists American first dose, support of first

In in XX-week and units terms weeks over XX period we XX March versus the X, the seen according of both Nielsen ended have dollars steady ended consumption, XXXX, growth retail January data. to

we meaningful category experiencing product retail the draft grew since heart within in explain October consumption do declines traction, of of ’XX and confusion expect guidelines we that that in only gains As aspirin further Vazalore overall second the aspirin that ’XX, were Natasha been the segment growth Vazalore half was minutes. few a will health more the category. and created the the when has in sales published of to how plan

We a a point inflection growth that their consumer confident stickiness we of as an we purchases will with users Vazalore base in see like subscription lead solid the are and exponential the building consumption, and in sales repeat create to unit Vazalore remain model.

adding We retailer regional and Publix mix, and door Trade two nationwide Harris continued designed to is to signage, chains broad mass, programs a retail drug shelf channels support trial. positive, across including grocery individual are other grocery count, and drive and product the Peter. display, distribution

For accounts we example, and to had drive this have several with Awareness display during conversion. promotional and Stroke American partnered trial is month Heart promotion on we and support, Month Vazalore retail and strong Month retailer National in February, pricing

retail several months. promotional planned programs Additionally, we the more next have over

and year. featuring are partners brand, broad of of the visibility month and the Several our retail committed promotional circular will its the end vehicles our summer and through in to their are fall. noted, support retailers the expect Vazalore we with high success every distribution Vazalore previously large As throughout continue

an provide channels is information, easy ecommerce visual retail consumer gaining to in is and physical sales, to online and expanded promotion for addition channels, reviews. Amazon important assets, specifically and navigate are product Vazalore. which a Vazalore solid marketing footing In platform

than to on than our stickiness base rate Amazon and promotions the feature evident Our our more as of the encouraging and steady growth success effective very doubled increase has conversion platform. base consumers reminder Amazon sales early results represents Amazon, the show with monthly This with of advertising, subscribers of more our consumer a for in and Amazon expanded growing trial have is a the in metrics we far. create of now sales conversion, way which on subscribe-and-save so Vazalore. to include platform cost Leveraging on XX%

been mentioned, March. navigating technical previously packaging we Amazon we’ve early As with issue have in a relating to documentation

in We our the During more sales immaterial was quarter first days baseline from baseline Once first offline, orders restored, of Vazalore impact Amazon our the than March. end to results. and of being we were by roughly XX had website. believe no product fully business there to recovered week of recovered was the the XX% offline the

our primary were while status had subscribe-and-save and of we recovery sales drivers as the orders of the filled offline One that soon as were the automatically returned. queued online were up

the macroeconomic freight including manufacturing when some then, and variability Moving the capacity the gross dose. end labor still ’XX of the was quarter. the blended in we margin, line and cost achieve referenced for which higher by to with in gross of quarterly from our due margin I was We expect Until milligram XXX we margin, to quarter, in raw earlier sales gross especially factors our first material, complete XX% expansion fourth the our the improvement of sales to our costs. margin may in gross have

our marketing through by expenses investments our to ’XX, force our in operating in the campaign marketplace healthcare and TV $XX.X to Our first the establish national sales professionals. million were quarter driven efforts Vazalore of

the declined disciplined expenses an QX. decline programs line slightly sequential operating in our our quarter-over-quarter away a high basis, due being resulted slightly in in than doing, QX a TV the college Our football guidance shift spending we in were NFL like visibility and On expenses, to strategic events. of XX% some of with from less

$X.XX a net share first non-GAAP and net on $X.XX per priority quarter reallocate which network was diluted warrant news $X.X for million, programs in our approximately level diluted share table as pursue ’XX platforms. On maintain the sequential loss we number. the Adjusting the a extending of diluted an in EPS net to of more prior liability, cost of second decline in income We to compared basis, G the and expenses of $X.XX to GAAP to plan other focus share our of quarter loss to We cash modeling per value non-GAAP keen statements reconcile we reported adjusted our advertising loss of and effective of per net the year including in digital in operating to the period. loss are quarter financial a Reg $X.XX compared another spend Please a fair maintain the vehicles, adjusted a the ’XX. runway. refer on for in represented GAAP first promotions base marketing to cable

$XX.X of had March of to Turning cash we equivalents sheet, as the and a cash balance XX, balance XXXX million.

burn the primarily sales collected partially marketing by of timing Our and to activities cash $XX.X million sales was from of receivables offset of Vazalore. related

we very to are focused continue runway. our As we on mention, cash

We a the spending the for will strategic still quarters modeling QX ’XX. expenses we disciplined to approach while as cash investing peak, burn manage With levels growth. remaining lower in of maintain are of

options cash have We runway development investments evaluate we to future beyond using plans, extend available cash ’XX, product While activities opportunities support enough technology to that. that PLx complete financing still our our us and we launch into our platform. regularly Guard growth believe is our to to including plan

an sensitive equity to as the various raise. options, reviewing are with potential we dilution currently We financing associated including effect are non-dilutive

also our his pleasure call who at Benckiser I are on exploring also billion. Mucinex subject, Mike industry with as work our for potential we Therapeutics another capital. experience based had sold and Reckitt for major of success Valentino, that Mike? to on launch source share brands. many on now business with To turn it where years, We will numerous over the to will ultimately opportunities perspective partnership Mike including elaborate $X.X extensive and our Chairman, Respiratory Executive development launched have more his Adams to I non-dilutive the

Mike Valentino

Rita, morning you everyone. and good Thank

of idea for FDA-approved delivery XX an from protected than the by discovered in Pharma, XXXX. I’ve past platform Chairman seen the PLx evolve during I’ve becoming more novel a technology Guard a through years, time PLx year as lab Vazalore that and U.S. Executive XX being our For served patents innovative drug to

also my businesses, both I’ve a Products, Alpharma to Mucinex. Respiratory had During in Generics, Consumer pharmaceutical industry, pharmaceutical including Therapeutics, consumer start-up companies. Adams nearly global several the and build the Pharmaceuticals, called ground I’ve Upjohn from XX consumer makers opportunity American up and major run Novartis’ North Xanodyne years of the and

known have to well them Rogaine, I switches, U.S., the addition, and Lamisil, among launched OTC In Rx such brands as Mucinex. Benadryl, seven outside Voltaren

over XXX brands managed and In both domestically I’ve addition, well internationally.

product to like experiences well like me prepared a associated point perspective and to all Each understand these of this think have I unique seen it building opportunities with Vazalore, I’ve from view. say the you it’s the of a challenges I’d brand fair share and today. launch that with to brand of

a have all also say result brands been is of learned. it personally are a adjustments learning, for me far Let enjoyed where includes the some brands build yet a of completed few others based the is the as get pad have and reality on There offering we’ve adjustments what elements easy brands make formula with efforts, to strong brands and that our spite iteration. brands mentioned I and of and go is that The what and to we’ve rocket in the they are with have as right and continuous not first marketing, upon all marketing behind iteration building just All countless building are we developed that of changes have pressure successful. and months adjustment. That’s launch first everything It’s our through I stage tested try. the rare brand and each value because we for The rate, like on ship. that strengthen trial, stages I working After like very strong of that of Vazalore come to that, best familiar and and you is time such pleasure worked Viagra our Google unusual why histories case are between. now on Tesla, highly of eight launch proposition. enhance this all no brand brands way. off over making extremely

You’ll equation. Natasha from a hear minutes. the But on adjustments are half in few more only this those

our for precise want of our to operational any I and The wouldn’t other course team down execution each been Nearly the before requires and building have to know boils the which They I in industry. people, you all that trade has brands. all excellence trenches me enjoyed with in in and patients as success trial management and half to I ability in are adjustments in to I’m we motivated conversion, as life-saving to and extremely quickly to I drive execute also and many and precision. that support possible. with you making deliver experienced know confident highly aspirin are plans team’s our fully to the the want

dollars As half years mention that on launch, perspective is I want a Mucinex nearly four in hands nearly an to a in U.S. sales Reckitt but Mucinex and in part additional and more year, million Benckiser. than two. year billion brand first at sales $XXX $XX million the as in In grew to its became a the million were in $XX Adams of

building to I not right have is a I’m develop brand a the think right into process, major right and that one-shot product, confident the Vazalore a that that a makes the brand. point the strategy team event. we

the point runway. and Rita’s is multi-faceted. balance protecting about Before closing, myopic effort on earlier This reiterate was I what focus cash sheet our our want to

the now efficient. the ones savings. know above, marketing have just a that most as By inefficient elements extract most result First, able been elements some we the cost up of the we’ve the eliminating have and discussed the dialing analysis to bang buck, for given which us been I

yet evaluate to options we’re finally non-dilutive capital. new as and in capital, sources of another source continue we business development actively also bring debt, including to exploring way Next, to activities

several We’re and explored The lead consumer include: personally future licensing second, PLx taking rights; for in for and third, on to certain seeking possibilities with non-competitive technology out investment licensing t in categories; the ex-U.S. Vazalore. the project. major his engaged development range exchange first, rights currently a I’m of being companies

thus deals are no of that these and is we what there done, accomplished any far can outside While say definite building is get that interest in what will guarantees we Vazalore. I are there what with have

We turn brand. in value you. have and it back now Natasha, to continue I’ll to the build

Natasha Giordano

data determine Vazalore months We and the tactics success should Mike. we’ve perspective refining make eight plan, sharing ago, we where In us our you we marketing to today. which thank with launching sales are and driving Great, analyzed you your appreciate Since productivity we’ve adjustments. some most our plan. the what or we’ve launch discuss done companies, the then will most first face are and learned our share learnings public professionals, incorporating and market from of market our to consumers. we what since from feedback and I Like HCPs, healthcare challenges. from refine

has new biotech also factors also The market, of treat managing and broader is struggles and market, continued It consumers In inflation shop it addition how impacted effect to especially how the the impacts. the COVID where macroeconomic we’re receive including HCPs and information. and COVID real. has affected patients

were congresses example, For Typically conferences is more attendance they low. before still channel a at COVID today. with have these medical for are physicians than have face-to-face interactions Times in-person and interactions much changed. robust conferences and as decreased

grow that these in nimble focused adapting programs awareness market build We to have will remain dynamics address and the been on things our and Vazalore. feel we

the April. back therapy, USPSTF which ’XX were of Another Force, or published Preventative the drafts States Task created challenge in on have of if impacting in The calling Physicians then this confusion and recommendations they October as United media aspirin. our consumers first category finalized and they alike. the tell recent is around Services us stop HCPs every finalization topic aspiring them recently taking among still patients asking day that should attention

call the treatment never the in to other receive aspirin for to are had category. Vazalore This market received event; customer not of already for the use aspirin we’ve heart confusion input or pressure cornerstone and continue to meaning feedback who conditions various be due our downward especially of online We HCPs for a positive we on including consumers. to overall the As had recommendations prevention, patients USPFT’s therapy. new attack stroke, only cardiac and have the through care physicians. the and from channels, reviews, these challenges, and a who people pertain health Despite put reminder, is clot-related both have confident however, heart through consumer primary center, customer a continues

and the can arthritis to all swallow consumers being not patients of of coated small they recommending HCPs as the told XXX either with our at were aspirin or the are without with without are examples help stomach We’ve inhibition Vazalore my Vazalore with through health. therapy consumer platelet professionals, and like their that very are makes to asked and you my satisfied agree seen of the study and able generate few using results to they relief to are these a aspirin XXX-patient are beginning it recently and Vazalore and complaints. there risk provide me somewhat capsules or importance matters. when lot They’ve taking us aspirin are purchase When consumer or minor are that heart likely daily, food, deployed to are I’m satisfied it saying choice not of chalky Vazalore, down to healthcare likely learned and of U.S. doing also I how you respondents markets. XX% that from Vazalore daily interactions major milligram a said following: some support nearly how we’ve upset extremely and tolerating felt all. favorable a your to have aspirin recognize that no very Vazalore Preliminary my I swallow, sentiment. easy even high did Here and respondents to are my the the well purchase. survey Goes with XX are between capsules difference of the that milligram fast pain. easy adopters feel hearing XX% complete and and with nearly from with eliminate their reliable HCPs. taste remainder more acid that patients. is Early I’ve Vazalore in been that smooth agree, bitter mention enteric of talking are across reducer. issues us feedback, this stressed stomach To we they they and a saying super formulation

broader cardiologists and artery practicing providers are with advanced who of practitioners we’ve secondary at With as assistants, nurse and early practice preventative these HCP experts, feedback, cardiologists, include clinical pharmacists, well forefront physicians spectrum engaged peripheral adopters, including as disease nurses. a which the of prevention,

is which learned and to erratic, injury enteric aspirin also perceive coated problem a these belief the in problem widely used plan the has stomach campaign enteric cost coated groups of their aspirin coated including failed We solve bring stressing some on message do limitations, The is broader HCPs and are that aspirin, mission of influencers most could aspirin to through as local specifically enteric This work between face-to-face of of We’ve differentiation patients. a therapy consistently truth for of as the formulation as HCP Vazalore reliable an of virtual on the with and and should stronger in communication that the market. difference inhibition should as aspirin. the that a among through group many delayed, peers cases low are and other patients, with interactions formulations, that inform dose delivering that the coating medical aspirin general importance expansion a the esteemed aspirin email There value to education and effective often well absorption. programs. reliably their as plain not physicians and well Vazalore is for and the need aspirin of several these even associated a platelet as

stomach and release. there be absorbed. By is of how injury. delay of impact are coating support enteric formulations coated In delayed may definitive is absorption coated to itself to the much its aspirin available enteric claim in aspirin definition, preventing This addition, on data lack

exacerbated This or labeling events patients people a In with to any because get products absorbed erratically absorption who that this for fatal distinction potential variable of coated enteric may enteric the if food states platelet patients important or I’d be that aspirin like the at absorbed. taken are now being another risk next may inhibition some our having are trying avoid Erratic and event. FDA an days. is by all cardiovascular coated is to mean some addition, inconsistent professional absorption prevention treated introduce absorption erratic could having guest, aspirin not secondary for aspirin obese. on Further, Dr. is

among Texas published professor a Ali, Asif cardiovascular and associate on been and of has national is is of at programs. medicine local the Center has early an a Houston. Vazalore. Health news Dr. been influencer and cardiologist, HCPs preventative clinical of He adopter author Ali at featured University an

call feels a as delighted so We have he why speak us treatment to the are strongly Ali? today patients. to foundational on with him for about his about Dr. Vazalore

Asif Ali

the cardiologist. you, all worked medical team, I thank Natasha in and academic Center, cardiologist to thousands I’ve center you from of Texas the am one speak the having for practices of morning in States, over all the PLx a and see personally U.S. growing me Texas. in United a and I the in annually Good preventative Medical today. fastest and Houston, the largest patients clinical new

is enteric - of the may we as enteric reliability of most like formulation have we can effects predictability, you’re when component, very aspirin surprised in doctors side for following causing At time. the variability. five that risk absorbed of to absorption failed fundamental get starting least consumer the widely states aspirin, has the professional for now, interested critical are high first, disease the we medications aspirin, aspirin bioavailability in after, professional we cardiology, know like an aspirin before even facts: safety. of of implications efficacy American the as actually, in four platelet and peripheral best inhibition to care. at healthcare understand we’re with for chairmen not erosion mission the intended coated side In and even shared work a excellence grounded gastric stroke. aspirin healthcare have least setting, the dose can the doesn’t stroke, and at to also variable regarding the a consumers being if interventional a prescribing physicians in know mentors a of then our the same and issues ulcers. meeting prevent believe coated treat by acute many their ASCVD. call limb, Simply injury, erratically work medicine, another the protection our We enteric around medication, delayed, every creating then published have may been reduces may College stomach last guideline Both States, life-saving medication, we not may the risk laureate the and are of therapy like come factors that question my in and goal winner. of a matters these from aspirin patients success professionals is absorbed, where Both heads aspirin in in our therapy attack healthcare medicine clots in and departments is we privilege events month, This for tested FDA had cornerstone leave options doesn’t medicine them an diabetics to on patients and are aspirin and determines erratic, obese departments patient down care is the for number them. they is two, get therapy intended absorption expect. provide of Enteric Our from an exacerbated coated a intake, aspirin The aspirin, the four and the options or approval bottom and aspirin of actually used the should means should Cardiology of Vazalore I patients or is doing be absorption It’s prescribed why medical it X.X, sometimes colleagues, the medications were I a differences not and evidence-based the tolerability yet food Nobel patient that FDA the study heart are the responsiveness. best further professionals diabetes, be hospital it one new prescribe - have The label directed has When in of has are side on up that My top cardiovascular forming patients issue. of go? affect that the echelon Yet show Washington drug of line made needed regards or the and if the aspirin absorbing speaking number for higher it and that who by With and aspirin’s which significant process; set hundreds weight, there prevention a is really difficult may complete we rigor our them throughout coated to heads in extent of of is to patients. effects absorption. recent these the have have and I their With that of patients tract, health on for which cardiovascular the I’ve a about GDMT. their the other patients patients which and GI to a United from tablets coating five PKPD potential post throughout has secondary center aspirin, not this DC an and and from for a my overwhelmingly erratic with been to triggering we’re first we products cardiovascular be the and sit that process. cardiovascular conversation of vascular placed and put, of in patients. patient of hospital. and both know assumption preventative decision that don’t heart therapeutics therapy intervention get remains Vazalore, of to when always the the attack, exact of not after departments example been data that extent new to gastric issue. aware

Lastly, to my discussing after aspirin, neither absorption the and do want they. patients, the risk variability of I of with don’t take of

to today. thank their regard to aspirin call Vazalore. I on for option think with in they therapy have me having and your a Back better you Natasha, now

Natasha Giordano

Thank Thank you perspectives for us sharing with Ali. you Dr. your today.

and Your health second, don’t a of - appreciate between recommending messages first, their Ali one patient, physicians and patients. physician’s understand the Vazalore number it other enteric aspirin. coated concern their and and HCPs like to growing is see of difference are clear and list They or the data variable the absorption the Dr. erratic they’re

tell they their it tolerating Importantly, are that us well. patients

along In brand’s are with and discuss to plans. Now some for consumers. I value will HCPs adjustments strengthen making refined how all feedback data, the we offering research other evaluating our and proposition we’ve market both and our

differentiate We strongly focus more refining target our effective limitations and our consumer plan, of offerings digital physician the programs are audience. aspirins. our In we’re and our implementing adding expand multi-channel to to and Vazalore to other communications from virtual cost intensifying broaden more effective

online a programs, cost-effective making in and online ever-present We’re strategic including toward more shift search consumer of shopping. email addressing trends marketing the

We’re a base target advertising which also our audience. maintaining level television know of we reaches

In and drive the coming unique retail with months conversion. weeks addition, over have Vazalore partners trial planned some programs to we our and

labeling; to of about developed coated not; plain Vazalore coated enhanced gastro Vazalore the combination also an to predictably per is include: duodenal aspirin enteric and is collaboration aspirin is are and professional aspirin contrast aspirin key Vazalore product of and to scientific cardiovascular is placement and reduce was celebrity Vazalore testimonials in to it the finally, prevention cause events. These does is with and value fast as scientific has aspirin that is and enteric help for patients the coated aspirin, HCPs, enteric differentiation bioequivalent stomach help talk enteric of Vazalore. endorsements supports protect reliably Vazalore absorbed is erratically definitive the of versus narrative prevent and digital enteric key delayed; reinforces messages experts absorbed, exploring of and coated stomach developed shown experience with secondary coated proposition designed injury. lacked in lining, stomach we Additionally, which injury local In marketing to their FDA been using real to data a we’ve aspirin injury aspirin, indeed that

this PLx and by therapy Michael topic conferences, to medical grant other thought esteemed Intervention among differences on further messages including this at on Medical - aspirin XXXX. showcasing Professor guidelines the at provided Harvard from the confusion through Angiography week in pharmacy, Vazalore the joined program CME educational are and was leader-led Also, with of programs later the at from Society driving aspirin from medicine, formulations, the in HCPs nursing. the Dr. Medicine SCAI of ongoing for Gibson, an the We enhanced upcoming meeting and month. independent earlier School and address was roundtables HCPs Cardiovascular faculty director for our faculty

patients to across display our specialists for materials cardiology In new group provide and patient education Vazalore and practices partnering to physician adoption implementing These the care consumer use addition, survey drive involve U.S. with large therapy. aspirin sampling on programs cardiovascular samples doctor-recommended programs trial. are and Vazalore,

We’re encouraged by the of broad this potential program.

strongly on we’ve that recognized that dive PLx world the across could on fast multiple into absorption parameters and data that help protect injury take better well Vazalore outcomes lead from literature to all for aspirin. and feel Finally, local data as value Vazalore, could They asked experts reliable significant and exists design its deep provide with as the patients. to to a

mind studies advancing Vazalore clinical We’re to in for for milligrams XX the development. have and committed science

adherence reputable in with tolerance aspirin. active to and we you Vazalore. the follow of two evidence study country a some study world plan in leave a up to with like wrap To discussions real with versus and coated head-to-head the in I’d institutions regarding are We’re how confident enteric That’s facts. on up, most

of guidelines, remain therapy on a As may for is Class cardiovascular X(a) for per prevention of and patients the rest the aspirin their events lives. secondary therapy aspirin foundational

duodenal tough lining. the reliable was and designed to Guard ingredients stomach. pharmaceutical platform and gastro only Aspirin capsules The to provides active delivery the predictable absorption drug aspirin bioavailability protect of inhibition full and to liquid help provide gastro known on and be protect filled Vazalore, designed duodenal specially PLx lining. and first platelet help FDA-approved is to fast, the the was

solid date Vazalore users. to base of our the We’ve building We’re market analyzed listened results feedback. and to a

strengthen and both value consumers to our adjusted our cost-effective proposition Vazalore have through brand We for and tactics offering programs. to HCPs

team the make on we to of to the for and winning to brand. therapy in of formulations of transform have Vazalore of are the other right aspirin believe of Q&A ready for versus the secondary now move We cardiovascular strategy aspirin patients. and we Operator, right Vazalore mission confident standard a differentiation to We’re events prevention the millions our portion a call. are

Operator

[Operator instructions] come will Leland Our from first question Gershell Oppenheimer. of

Your line is open.

Leland Gershell

my few Good from questions morning, taking Thanks A questions. the for you update. me. for thank

the your about confusion the can details until maybe call, the media done getting of is you helping, should not the a you be bit on clearly to and First, way down as into a them article further aspirin discussed with to the on impact versus talking not respect Thanks. bring up be? issue? and price what but providers be if to reverse USPSTF into get to that on through a maybe getting guideline who the who to that patients respect what’s counseling the as patients potential approach price with shouldn’t advising Also, hurdle, price price, about being them maybe

Natasha Giordano

Thank you Leland.

I are two might Dr. questions, and very I interesting ask than these taking know, think You rather on, them me

broaden the Asif to among USPSTF be impressions on. Dr. the is maybe done every confusion in to what take Ali, with day, and can of talk HCPs. awareness about patients first who that guideline your trenches Ali,

Ali Asif

healthcare hasn’t what you definitely recent data prevention, thank prevention, a order. the is day the aspirin, there it to on my are in I aspirin take clearly when questions. There so for confusion me, as came patient heart still I is awareness the with the needs Sure, asking stroke population, and come or cost and what what of their is you disease, think a better Quite the back talking so in providers, then and patients be going the and water, have aspirin new a education regards should be attack disease, secondary to to not what a been but me want data regards primary of don’t lot primary haven’t secondary atherosclerotic of lot muddying may a the both importance disease, is a in and if simply, life-saving is reestablishment works, of versus had came you prevention out vascular secondary much a our and have to When base. information that prevention. work; as prevention, that since versus secondary back and and confusion primary come primary I to price, regimen. of back to caused In I’ll is therapy their what on we caused the about in a patient out that’s these about talk to prevention. aspiring it’s I there if

We’re talking lives. saving about

attack. a talking stroke We’re about a life-altering heart events like or

about talking that costly best in killer therapies, in your line cost, especially using multiple the talking simply not an that about job vascular vascular the cost-price the we about--the to the pennies dollars. the the the going the stroke, of least drug but five It’s with medications. aspirin, interventions, disease medications if some do. life-saving about and at we’re in least is talking America, or number attacks, When you about it’s issue is and look number item killer in the and per that’s lives. medications, answer data of up intending shouldn’t costing the to not Clarifying all the the of saving expensive or hospital We’re attack cerebral heart atherosclerotic is one medications, thousands those aspirin the is five the of those of to be those Does we’re issue question? does of cheapest aspirin cost CDC’s America. debate that absorbs diagnostics, five in of cost which heart on the accidents the aspirin, the and a is which latest mortality about talk strokes, America Out

Leland Gershell

very That thank you. was Yes, helpful.

Ali Asif

you. Thank

Operator

you. Thank

James. of comes Elliot Our next from Raymond question Wilbur

Your open. line is

Elliot Wilbur

Mike, Thanks, once good morning. morning a your to pleasure. voice hear Always Good again. good

Mike Valentino

you How been? doing, you How pal?

Elliot Wilbur

I’m no thank here. you. a of couple I’ve well, doing surprise, questions got,

against you woken head-to-head aspirin. town your planning the I up with of entire is think First Leverkusen, you’re may study announcement have that coated a just Germany enteric

are Dr. efficacy do what you looking Just if in how differentiation primary possibly and be I both, that the there relative confirm to to that, curious of in think assuming the weigh benefit prescriber versus wanted could perhaps terms Ali could teasing ask is you show I’m influencing just behavior? that, safety, - to how out terms you of data aim much but in know, important in on

Natasha Giordano

offer Yes, Ali it I’ll perspective. Dr. on to take ask and then his we’ll

been to that to of reliable, given commitment the is order bioavailability millions patients always I important think it’s be could prevent next really science drug so that there. and us, for aspirin our fatal, event that that a need predictable advancing has in life-saving

so study their and not absorption important. We these next that we as aware included, are they hate advisory may a even patients they people, variability, and for that’s patients the real tolerance that have actively vulnerable risk, doctors high on board from but erratic hate get also them quickly aspirin. components physician, any event so information so Ali more that really sense all because a many and and having days. us, so you’re a not world that and that Dr. staying - scientific to in providing some manuscripts we mentioned bioavailability issue publishing rather and at we be important adherence speak, are will Certainly on working puts a know aspirin to given those how on at is on absorption are at is yes, prevents looking people doing Elliot that right,

the confident to is Vazalore prove prevention. so secondary very very, that to We’re in going treatment important of be

In terms medical a its Dr. community, maybe can few thoughts importance of to the you Ali, share there.

Ali Asif

a that not I the of new out point story. is anticoagulation Sure. to and absorption issue want

of atrial look If has bioavailability, absorbs efficacy, which is the the not story. exact a oral at in drug this hence absorption, story it new best and you NOACs, better fibrillation, which anticoagulants are new

never--the about especially think, quite have physicians that is This and behind data United of I delivery they I interventions. life-saving quite systems, formulary using of not that standing and that think are the actually new story its aspirin go did think use and shocked it’s to FDA today that the aspirin actually in what is absorption, a bioavailability out. rigors realize States, that the didn’t works, is therapy great are discussions now when the through and absorption Vazalore are has, ones word, about a approval they physicians to and and, want and I really drug talk there modeling and that data forward actually new doing which is they’re -I coming leaders that opinion would PKPD as to story I the whole, ACPs, shocked, I coming company look of the out key

Elliot Wilbur

Natasha. you, thanks. a Okay, for follow-up Then question

at to direct type there’s partnerships. least additional thinking that’s or be you be and perhaps market know, would to get you referring with detailing early some the level, efforts Just Are plan. a such a this roughly the in just--you the at would of wanted and more what terms respond of of about some efficacy well that potential looks more additional new term terms partners of it side, the to that kind just initial promotion company strategy what co-promotion responsive on product, may part that perspective sort about, of care. within be aspect channel what some specifically be--I near long some of may Even brand be annual you channel, ex-U.S. channels distribution of promotion of so I to suspect in avenues exploring in necessarily thinking and curious about about you million front very $XXX retail you as but talked of Vazalore Then you terms provide thinking other may leading would or channels at what weren’t it’s the that capital? learned a Rx relatively recently think to institutional distribution that to new be marketing term guys may have larger terms or on the the of may stage in

Natasha Giordano

Yes, Elliot. thank you

question partnership what? the Let’s know first. take You

regard, in You bit from that provide ask a so me that let subject. to our on heard some color activities Mike Mike of more

Mike Valentino

impressed a key are good. with among overnight, pretty much view impressed impressed and with happen doubt is able we continuous iteration understand difficult where our how They can rather that we’re franchise. that all and thus What they’re adjustment, and strong is with a is they’re of brand door a where more. come in it far. I at Sure, build with this thanks but point, with The their doubt eight to There’s impressed is we’ve advertising that could of and which activity far, view they’re months, really there’s the that of Their views impressed we on XX,XXX-plus they’re are distribution, not side, by the no been no influenced progress professional our Vazalore spawn, expectations quality creating are only achieve, potential should they’re damn number and all that that off-shelf estate, display so new question, and value and and technology be they’re to in of that brands say of the businesses consumer we after from with both technology, the our they’re companies for Natasha, our they that are successful we’ve the to, doesn’t is for them on and understand all impressed thanks what talking the with thus and very it impressed that ground reason here’s the impressed marketing accomplished what impressed result patent up. our with. vast our and materials They’re science as a Elliot. our

Natasha Giordano

in that analysis take potentially for places. some is Okay, more One are on systems actually I’ll expanding choice to plans the the as We of distribution. of patients. direct and with upon and go product thanks do implementing to Mike, question have discharge our Vazalore partnerships large a interested couple

phase insightful you beginning mapping Elliot. asked us, to the out really and of in question important that’s execute a but that, how I We’re think

that going but we mentioned, much I’m the far phases, are that we’ve that seen not the so to excited because more I’m interest you beginning for concept. about specifically in too on give and You pretty

in there we’re those has that more asked Secondly, could our environment, update. and the hear from LTC, you’ll and interest next with in about institutions so been know we so Vazalore because that is how you interesting about partner aspect, it LTC exploring we LTC directly, the and that some

Elliot Wilbur

all you of another, may, do for think for really prevention, one subset that think engagement this of final of absorption in terms that I how Vazalore? you getting Okay, question, have a suited of lack best on that what for patients on profile all Ali. is patients, prevention therapy particular [indiscernible] this leaders? your successful to patient you is message actual engagement messaging than standard these of and and word trial it from just once what’s Dr. think erratic within more helpful of they patients, a then your and to should secondary physicians be aspirin. in through prescribers, initial the awareness secondary the remain or should you Curious, getting them How or Vazalore therapy Thanks. You wondering care for been if patients of go the with thought Is actually of communities mentioned there treated more here? out enteric being the perspective best the active issue with do get Just be more first coated here. think way in terms P&T be the would communicated, sort among or you

Ali Asif

a for you question. quickly. heart behavior stroke, occurs put, when the you Simply attack, have event, Thank very a a change life-altering in

quickly. the and something is from disease that’s prevention patient have primary preventing is. the happens, which changing failed have occur that the what Obviously You quite once to prevention, so secondary disease behaviors has happening, happens,

in each now weight, change--that the medications so one attack you’ve if to blood cardiac in those medications. in attack, in the getting you’re stent it’s if new change for a the unit peripheral - zero procedure, from it’s improving intensive or you patients a to patients vessels stroke, or your the disease whether of smoking, it’s with is toe, the quitting stroke, to brain, a heart addition, a diet-exercise, If a because disease, care expanding ICU care it’s from the peripheral vascular leg, it’s time but or five with hospitalization, adding head heart, to losing down require if optimum in going require so vascular their it’s may may insult’s been the behavior, have a heart, to your in unit and heart

are one making - shared I’m treatment, fairly per standard making I to care, the That doing of for the best going decision this options indication then and discussion and on clear shared an class a is that patient, serve for there know, their decision the to their is offer discussion guidelines, this that the--you called and patient. means is treatments going right per and actually is patient the I’m that So it’s have the if informative guidelines.

We’re doing options for best care. the patient and shared decision-making showing

further to discussions, between secondary the far to who grand most excellence healthcare like bit best excellence primary healthcare are in and Heart those programs, the have get American the strategies I the to the word the is looking they As and to believe P&T rounds Association a for broader want in that to committees, as data the care, too issue out, at a a want absolutely difference in needs and for and institutions and treatment in a including because strategies clarify we’re running of to campaign to little patients chairmen best the and much business and discussed providing talking prevention be this best perspective, the patients’ organizations speaking treatment. much strategies

Natasha Giordano

Ali. Dr. you Thank

Operator

Securities. from comes Jason Butler question of next Our JMP

line open. Your is

Jason Butler

appreciate the taking Hi, you’ve all for this morning. the and thanks questions, into detail gone

don’t how Dr. other ultimately awareness for use maybe limits your as this as coated or and a one to way, aspirin, Vazalore increases, priority, guess it consistent asked or push it’s it your the I back how among appreciation a priority? of want have view where product First Ali, that the of is a is any the peers the that just it do you peers situation peers I is of consistent will more? guess enteric

Ali Asif

nothing do anticoagulant being - the is that still is issue, NOACs now Again, out, not that There event talking bioavailability. another atrial about physicians playing a marketing and disease. in PKPD or have NOACs one to conversation listening your has an do strokes now this are fibrillation, I here are this bioavailability you’re attacks why patients. materials of to same obese are new with new is another that in right an played I’m forming with and conversation going question disease some perhaps as when and This we’re not events it in think scenario understanding that’s has in is out occurs, with exact to has A-fib medication absorbing having right and is that’s answer in heart that patients even and the Again, happened that cases. medication theories clot

up is are We’re talking Class or campaign or as X X(a) these now not the fundamental--these both shared think providers decision of model fundamentals for so are patients getting diseases, It I about are that that or think the that are but serious X X broader educating and Class healthcare a ladder and X(b), the as I indications in patients this on, there. working well that best is that perspective be need clearly them and for informed what let to of we and in sure of is information a aware to their are what them, messaging. options Vazalore option, very make options

Jason Butler

or us considering retailer Thanks. fourth you’re of there? you one programs. or your working are are coupon think Ali. intended, don’t of how sample Natasha, any Dr we changes are from changing the give levels it’s Rita, inventory thanks or that can changes quarter? I Then that making maintaining for versus infer there just helpful, to the as and you any that Is any well That’s end sense trial that--should

Natasha Giordano

as how sampling providing partnered XXX-patient We’ve conversion have now cardiovascular making risk we’re piece your Vazalore, to how patients survey Vazalore, a as disease sampling couponing protecting on We important sampling a - or they in materials approach and Okay, large success we your specifically event, doing a so are that Rita let data know and and we practices will the was to yield how their it and on real faster in that, second for and group of and that I feel question. regimen further. with perceive well, specific actually in sampling how responsive back right programs and terms data patient validates our we’re that and so with our get I’ll very earlier they I very seen uptake it, step is education of objective in adopted think their Vazalore with an in country adjustments we’re we’re from about it there. and we’ve program. think are across Vazalore. tolerate that secondary coupons, heavier providing a they mentioned prevention, focused the there with treating terms some being couponing, that approaching we’re cardiology fatal we question, broader to address consumer taking

Rita O’Connor

the Jason. actually of just we for were levels thanks did starting know, so lot you in February, quick, display see Sure, Heart them as the inventory promotions down come retail back May, Month Real we’re there and, to a to promotions, and inventory, that down and half of draw down those so the year that at execute shelf we’re as expecting some in we growth including some doing we’re work displays significant in those promotions.

Jason Butler

Thanks the great. Okay, taking for questions.

Operator

Oppenheimer. Gershell is from question next Leland a Our follow-up of

open. is line Your

Leland Gershell

follow-up. the taking for Thanks

got off. Sorry, think question cut my I second

what the of team, Then patients but to I regular the ahead. obviously, discuss Thanks. versus expensive also take have could, a with in of you please go take just price, counseling terms second maybe respect aspirin. more If with management Vazalore approaches who you question, issue

Natasha Giordano

question your on that you’re circling to? Your patient that discussion question should HCPs them, for price cost and the and how is have back with

Leland Gershell

Yes, that’s right, Natasha.

Natasha Giordano

ask you you get challenge there physician a How to--if that How do a on hundreds you patients of a that, have You the process get briefly and between how patient. you and terms do Okay. you talked opinion, lot how about handle through handle ask making handle and do shared your how conversation? decision since you summarize Vazalore? that? would them that of a patient in again, cost, your Maybe price Dr. maybe Ali I’ll to is

Ali Asif

patient, the not especially has the Out to I the make diagnostics, regular - these a medications. discussion you, quite you’re I’m this would talked is sure, closet, Yes, it’s in a hospital talk stent prevention this we all aspirin absorption. look at example, your lot in that for aspirin least in differences a data you I different that the at the therapy, savings is look efficacious, lowest Yes, quite at the trials, of just keep answer. the look it’s being really now another need very that’s hospital. of atherosclerotic formulation item have I a--this aspirin may stent further difficult far you’re my that want processes. I’m through from may putting being open to saved, medication your you medication switch a making open think that prevent absorbed is being simply we of so not that you in in and and to it’s in could Vazalore, coupon, medications, that on any dollars it’s new on we medication we therapies, line though, on is over other as month. your that discharged conversation. it’s hundreds a variability there’s plus going item inhibition the that It’s disease. when the be protected, and for medications better going the usually decision cost the you and patients expensive have you that when out been the to the about so have to simple, if stays different of conversation dual stent. I sure getting, and so really best secondary When not got that also making you so want shared help The absorb acute the at about, process, life’s be it’s I heart, we XX-second anti-platelet been the you to stent that have with you five with cost. giving to heart, We a so the vascular coronary absorption, look from medications, whatever has to that I’m this that stay, samples line aspirin focus

Leland Gershell

Ali, is simply other spot kind Dr. see And Vazalore you trying them Vazalore with as issues may do special whether one to side is a tolerability or be who various a effect [indiscernible]? for Vazalore that on the really or regular or GI let’s population are of proton some simply to ameliorate aspirin, all benefits to to respect and you with of agent not, need pump for sweet that adjunctive take, the it a inhibitor better say, just aspirin should help patients

Ali Asif

Right, bioavailability, way, CDC and proton pump as add issues additional was the whole medication inhibitors, and set issues, more so issues - to with able saying NIH have be medications. additional efficacy. that, question aspirin to the not they’re Inherent GI the own issue the to now that take who your right earlier on patient That’s question that up with to additional a there cost look, I aspirin, you’re adding medication saying they an that’s cardiac patients has take by I’m read so there, need just was inherent renal data another now we’ve having in on your why so guidelines, because in And what an in have to from they’re taking now the now medication there. on better well, was, aspirin, their if you a cost. so get-go look, are and much so having be the

PPI. talking you’re office own database on my about I an talk why--and with we’re GI patient, to HX and That’s about and irritation, GI better actually and have blocker that’s safety, are safety, a conversation about, have aspirin see I formulation. how another so I we you’re that have to when area Now many like seeing good talking in a having but are through ulcers, so my think also a the a it’s we regular less point. niche take patients gone

you preliminary they medication. give to additional rather can adding from for any to set it’s inherent success patient up think but sense the tolerate the another it I medications on reporting than get-go makes that, just so

Leland Gershell

follow-ups. the for much so Thanks taking Great.

Ali Asif

you. Thank

Operator

would back I remarks. to to for questions. now closing further Janet like Barth no the showing call I’m turn

Janet Barth

may you additional thank all call a me Thank great today. free have. to Please day. any our Latanya, participating you for and Have feel contact questions you in with

Operator

for Ladies and conference. Thank gentlemen, concludes you this today’s participation. your

disconnect. may now You

PLx Pharma Winddown (PLXPQ) 13 May 222022 Q1 Earnings call transcript