ECOR - Earnings call transcript Q3 2018

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Operator

Good day ladies and gentlemen, and welcome to the electroCore's Third Quarter Earnings Conference Call and Webcast. Currently at this time all participants are in a listen only mode; later we’ll conduct the question-and-answer session and instructions will follow at that time. [Operator Instructions] Also as a reminder, this conference call is being recorded. At this time, I’d like to turn the call over to your host, Greg Chodaczek with the Gilmartin Group. Please go ahead, sir.

Greg Chodaczek

thank for and call. in operator, you, you participating all today's Thank

Financial electroCore me Executive the of Officer; press and Chief Chief Frank quarter website. and the company's release Earlier J.P. Vraniak, Joining XXXX. Amato, the Science ending Officer; September are A results plans released and Errico, XX, Chief Glenn is Officer. for on today copy Strategy available

statements call within the cause events material made that to risks limitation, Securities that the statements. safe should and be begin, harbor that results forward-looking or provisions forward-looking meaning management statements facts this trends company's not remind will you by historical that Reform of Any I'd include these our of future statements. All call during upon contained deemed these of to statements pursuant assumptions. expectations those in including, Private various from XXXX. place we federal to forward-looking Before Act statements not are the Litigation you be this current These the and and are of securities statements like anticipated make which should to statements. the examination could operating based involve materially Accordingly, are reliance financial estimates of forward-looking our differ on implied uncertainties without actual undue statements or laws,

to information the is conference information, financial the today, uncertainties with intention filings or future with as associated XX, live call XXXX. I'll call any accurate any of of and only forward-looking or by contains except the please risk ElectroCore or events description Securities the to with new company's over of required of and the projects otherwise. see obligation, turn update whether business, broadcast that, list the And Frank. a Exchange November revise as because For The or that law, disclaims time-sensitive statements, company's Commission.

Frank Amato

made quarter a We've to our I'll you multiple over all Glenn significant launch I which full forward of and in And the fronts update, today. to company. for call specifically months, you our turn over Thank an that past joining as us the progress, Good thank quarter public gammaCore our afternoon, here the first discuss three progress you, giving States. United Greg. look on our Chief After Financial financials. to update on therapy third Vraniak, our Officer, was the commercial

areas; regulatory the I with I'd talk like and launch performance the we'll of will payers; for our describe an and three progress update To then progress performance. questions. to we that, Following to the coverage; our about reimbursement programs the call on are open key date, doctor give sales and the overall making strategy of and our sales insurance up and force clinical deployment your and

month we for There quarter, began in of prescriptions, our physicians prescriptions this FDA recall January we may have we the third In in booked the alone. second XXnd October. third over initial commercialization been clearance of third we as quarter-over-quarter In than States slightly we quarter. year. gammaCore. apace of on compared generated that adults continued an more year the prescribing gammaCore United You team, the with building our in number received the This also the to X,XXX growth increase in in for quarter, was of strong XX% only In treatment offering. the which experienced XXth the has this of prescriptions X,XXX full growth market, out XX,XXX to support acute quarter, following pain order commenced beginning headache the associated public at commercial we written June prescriptions migraine over but of the

authorizes and device a the in from specialty activates per day device end up At to territory The of XX which days. XXXX, pharmacy to managers were card with comes physicians calling X that third the on weeks for a significantly rechargeable RFID the by gammaCore nerve of recharging reduces through and IPO, reloadable unique after the shipped improves is therapy. eliminating the X,XXX month, our liaisons patient XX more delivery. there the directly of partners. by a delivery margin fact, we field from and our Sapphire, the of Sapphire like with a supported convenient for is XX% gammaCore to July unique our prescription of minute launched The quarter six later, need model, the XX delivery handheld Sapphire, dispense sales a It with the was shortly patients, August therapy RFID five business the these physicians two next-generation quarter. and earlier doses our on gammaCore case device every prescribing second an therapy version waste launched of new On medical gross Again, unnecessary card is team gammaCore refill nearly or In increase science MSLs. the stimulation monthly the another of vagus month prescription. for XX,

mission the launch happy to generation on And the transition weeks. to within product was U.S. schedule October report we as objective I'm that new XX. market completed to eight of Our completely that

physicians the the territory more two X,XXX contact is goal with quarter, times by end of business majority end each of our once, least team our year. XX the sales managers prescriber had and of the target at to the of made our reach of As

marketplace part gammaCore practice. And to will continue therapeutics, and coverage begin the we insurance to sales other of as our these of continue an to increase build XX number team, like who believe receive for the a with therapy, physicians to the As we to next we build our will XX in regular as take influence over patients their interactions territories six momentum average out it strategically sales months. of four prescribing to moving

U.S. to doctors XX,XXX gammaCore the to XXXX is promote headache-treating by the approximately across goal Our end of market.

the accomplished studies major This journals journal, Academy In we which treatment the the completed grading quarter, This members Tier to the top study mission Now in discussions are supporting the the migraine of XA the of of payer our and milestone, of each and was graded high-impact official Neurology. high-profile insurance and our with pivotal companies journal, as Tier the cluster journal pivotal a the another our acute evidence. in third the evidence Peer-reviewed XA achieving management our payer of PRESTO of and other American pharmacy publications community. headache companies, publication of important factors trial for peer-reviewed migraine. publications benefit PRESTO, of key acute coverage. let's Neurology turn attention

clinical validation provide use safety review. the require efficacy that of be therapy evidence and of All new to published their them a under of the supporting

population in headache is patients a of middle-aged headaches priority the not are earnings strategy of who majority of Medicare in goal migraine for States of cluster continues that the headache our the quarter among for at for of payer of million lives the which with to call, approximately I XX% and majority prevalence As that the women the note men payer severe by The is we population in stated XXX means million gammaCore XXXX. to XX% beginning or true age-related by the XXXX XX sufferers. United should access cluster to the are this childbearing our time. commercialized or our be that migraine, XXX either grow million second age, end and of or

agreements are commercial we Currently where reimbursement and with the have we payers PBMs? So place. multiple in

Caremark we U.S. will this on XX first continuing of will agreement, million by within into with Potential X, be million CVS product CVS go gained Caremark which XX through our a effect is negotiations managed access The January the in access XXXX. individuals of the that beginning payers lives as XXXX. the CVS advised have agreement, have to the Tier Under approximately million XX will remaining which to been the therapy network. X January of

RX CVS included RX to gammaCore as X in million beginning nonpreferred In a addition lives. brand QX ProCare XXXX. has ProCare over just of services Caremark,

account management or Blue and National Managed such October these large care PBMs including as Ferris XX, United we an well National pleased the and innovation experience President received briefing at welcomed report to Care. beyond organizations, as in also active payer in Express outlining additional we Blue the Humana the several tech med and known Shield with Ardelle Anthem. electroCore, remaining Pfizer Vice effectiveness as our our positive inclusion leadership NICE, to am reimbursement lives, are benefit support two of advises of the recently Health a other for formularies managed on OptumRx organizations for PBMs Ardelle as Clinical team and regional Aetna, as are in XX decisions. years their for Cross several NHS also Discussions national XX in prescription XXXX which Script electroCore Institute To organization Additionally, Excellence on knowledge Service providers, Kingdom presence, we million the that of our I is brings a dialogue underway. and wealth Vertex. experience that the to further from

enhance We gammaCore for to are United Ardelle to headache-suffering migraine cluster and have thrilled the patients to access working States. all in

we for As XXXX throughout and more become our reported their quarterly reimburse therapy begin believe commercial predictable. to should beyond, revenue patients payers our

our lives prescriptions, believe variables gammaCore and also will operating gammaCore of prescribing commercial the the unique total of of physicians important We high-prescribing results. the number impacting and number number be

provide investors understand data that, over For we with creating. next better quarters, them with commercial to And the turn to points are these and our we plan help progress the the call value several Glenn. to I'll

Glenn Vraniak

Frank. you, Thank

The our the after the a and voucher patient we the recognizing for distributor. units will this need decrease would mid-July from as into to primarily voucher that the patient therapy this program. use then the be XXXX, XX, expense. in against sample contra-revenue need specialty to a appears the of of of sold to ending to more to the like much result cost voucher units, free of voucher through program a for the of eliminating And these For cost reimburse time In program decrease dispensed thereby, quarter voucher contra-revenue our reported September mid-July, the This mid-July. the free $XXX,XXX way, of basis the previously mid-July, of book under reimburse remaining we a products gammaCore program third of due at extended program for pharmacy promotional GAAP revenue $XXX,XXX, shifted quarter book to dispense. we is XXXX. cost Under would contra-revenue. pharmacy This it

delivered program. dispensed through quarter, as therapy $X.X During XX% patients to were we've value prescriptions this the of And program. approximately we're that proud promotional gammaCore million approximately of this third result, gammaCore report to under sales in a

dispensed. is assistance coverage of the $XX,XXX. had gammaCore who to their September co-pay patients net remains months The was we assist the at gross on commercial XX X our where This impact $XXX obtained for XXXX is to up program the Additionally, ending co-pay in effect. with time of

at of profit of was to sheet sales quarter to commercial losses in the as to and of company's continue XXXX. of of from Operating by our million, physician and demand. balance the were the believe XX, XXXX quarter providing coverage over The and therapy And the therapy cost to the $XX.X these were The million is gammaCore in quarter operating prior gross We promoting the The in call Frank. of of XXXX. the million same expenses I'll accomplishing programs of patient year. no for third September $XX,XXX in were the driven increase turn benefits down and which demonstrating primarily third charge, of approximately expense cash compared to third a compared XXXX. $XX.X of objectives investments XXXX total marketing quarter U.S. of short-term physicians XXXX operating $XXX,XXX the $XX.X functions. as $XX.X loss are the expansion $X.X operating and equivalents as period third was an for the related writing of million prescriptions on back to result coverage payer discussions increase million patient same the period now for Cash,

Frank Amato

Glenn. Thanks,

school. like life. talk about gammaCore feedback her our to Marie about we moment to is family in she Over auras, in And and our a early headaches professional Marie's how mid-Atlantic who her since her region a to high have named has social migraine a I'd and of changed forced a in school, suffering have work, the therapy. the received many events of just Marie from miss migraines XXs her young quarter patient was fellow therapy frequent take lot has Like been get-togethers.

When to Marie, the dozens carry loves. treatments, again. can day. Marie exercised-induced. to allows to In Marie migraines a from the give to lack Marie's wasn't that different patients and migraine, she livable sacrifice with migraine her to goes. we attacks forced on get When her minutes getting quote fact, starting Even running feels she but and life takes experience ideal back. to and stories at a on many a it doesn't in and completely she like And to tried for Marie's Marie introduced the the hear was Marie her allows personal And gammaCore relief of back just because the get even drug my get things treatment, getting, to are gammaCore she it's since field many treatment neurologist, put her was even recognized her gammaCore, day. with to me she like her we've life. was on to to patient the it she few needed proud she therapy. the She's efficacy eliminate approach touch back makes wherever I'm the it between of Marie dozens effects started gammaCore new up experienced. her had running successes the she start report doing coming of Marie decided that that the hasn't had we when on that a of side

rheumatology. few our out I'd clinical the regulatory fields like team deeper our our call to a to in process by our headache to into investigators has we key clinical start recognizing as clinical world that and look to supporting our leading Now specifically expand the like clinical presenting from studies. off and take and hard and successes and clinical like data labels around our into put numerous continued the trials work moments discuss their in I'd publishing

as papers. include publications more Cephalalgia, in Journal in Neurology clinical two Just three Headache than These in we Neurology. have XXXX, of of the Neuromodulation seen of in as and and Annals the three a dozen Pain, well

at In Society made presentations addition XXXX, Migraine the European in Trust we've the also Headache to Neurology, American the likes XX Federation, of Headache Academy of and Meetings. date, than the the more American

of of acute is with the with were FDA-cleared programs based therapeutics for The for have associated gammaCore similar to treatment we discussed, cluster currently our and As these headache therapy on indications FDA-cleared headache. that the migraine, of episodic pain study prevention headaches. those traditional application We've clinical terrible treatment also August, conducted and headaches these for for headache, we of filed FDA and the expansion a published the studies cluster both in late for headaches. of cluster in Beginning migraine. label prevention the an a XXX(k) with

gammaCore sets with per data were suffering Kingdom attacks from United approved well these the is its headache which application announced that week where headache real-world patients as data daily several number gammaCore therapy as demonstrating endpoint of our of PREVA previously cluster results prevention. on based of is met reduced significantly use by primarily cluster primary from trial, collected for already Our the adjunctive

States, from first we've initial study happy is extend PREMIUM migraine the and has received approval, prevention several this PREMIUM to our I the past United intended Our enrolled in week. I'm of the findings which patients report to for that II just IRB

ATOM as IRB and an treatment its shortly. expected Our adolescents received gammaCore study for has patient of to first acute is initial enroll also approval

will of IRB formal be this acute preventative first both review quarter. an submitted and headache gammaCore investigation treatment Our posttraumatic of as for

of the also we in treatment headache, inflammatory vagus beyond conditions scientific of look the compelling. clinical stimulation evidence field early As of nerve use the supporting the and is

conducted the the study of awaiting syndrome as earnings studies rheumatology. the call, be we pilot a of reported arthritis. early into of Kingdom. among randomized part into during electroCore results use is look Sjogren's in we last we United XXXX, And patients multicentered expanding Currently in platform electroCore As being are gammaCore initiating the will rheumatoid

accomplished larger our the business to non-invasive will XX%, with trials initiating partners fatigue phenomenon force smaller serve performance rolled by out to by in sales from the third investigator-initiated stimulation in and operator, gammaCore management closing, grew that, in questions. a nondrug efficacious our large And who the number physicians benefit the may fibromyalgia. painful territory headaches we addition, foundation prevention migraine thrilled prescriptions a pharmacy open have In continue as successfully enrollment pleased and Raynaud's of that managed constructive headaches, please and of XX as last our organizations studies proud I'm and They option. nearly over for sapphire, research In safe in like with next for XX% the we cluster and I'm gammaCore vagus with increased everything quarter prescribing submitted chronic are platform, for the debilitating patients begin call now sequentially headache. managers, nerve someday. with the syndrome suffer treatment generation discussions we've trials care Marie, of and episodic of very or have quarter this up XXX(k) cluster

Operator

Instructions] [Operator go ISI. question from Josh Please ahead. Schimmer comes first Our from Evercore

Josh Schimmer

But product numbers It grown lagging to paid a to to at little from a a sounds patients the set, label to relative convert least prescription paid the some a ability demand like nicely. prescription of for -- prescription prescription has where is the bit. a were

prescription should start in about think where confidence year quarter expecting much Is better you locking how bit this of positioned had we of a then swift feel secure? for that really were access shouldn't have six be a of first to your little way weeks the adoption XXXX, talk that to PBM you'll this so some XXXX? this if XQ you could of what XXXX. reimbursement, like end be So growth? about And type the bit might in quarter if like as you contracts quarter, a look the for in We're of of key 'XX, we looking fourth paid when maybe the also the of about you drove dynamics that all, we think are so more prepared little we at a

Frank Amato

get if October we as company latter provide hear summer, learn one through and Databank. we more point to the be agreement, we've ESI. back through whether since from We'll they their various it's to we the to back gammaCore we're from in tenets the contract with insurer quarter. tack access in the We're would, the really agreement contract since Sapphire think in the compendia. already waiting ago, from three us contracts, respect think honored folks process by waiting the basis payers They weeks is of with on appealing to a I an that model in we're ESI We're at codes First code the awaiting see their access or with I start PBMs, the middle Sapphire there, We've depending ball additional forth the especially report We converted out this the were back any through questions our here get for two starting at month with proposal. being have OptumRx. confidence when over were unique that or were of denied so was organization on from still the our the We with to going conversion The meeting market fourth gammaCore-S I I hear regarding the to therapy or patients the to to been see their court. they their discussed to whether either they negotiated the product. their the the PBM here, to for discussed. back model identifier there'll prior positioned or insurance PA what the weeks and a part product. to With but already. be believe, revenue reimburse of We're two their time, the them. going conversion starting numbers auth upon back don't

like have a for where all system put They and PBM, where Prizm of our MedKnowledge system, the databases. is put number, Since and is they the contract pharmaceutical the two code NDC has they all which an that the Databank they devices only group. is products. ESI MedKnowledge medical First

working First systems are very on in negotiated. as Asembia notified Asembia. how and they their start code current with So with that I honoring closely so they was Databank over discussions into that we that the this they're can to of pull agreement morning

think them, that ESI. pretty XXXX, the the So so and by but of be signed I in With around haven't QX contra-revenue sign revenue add from that'd quarter place yet, I and agreement reported the previous the one did revenue seen that, and both 'XX confident quarter an you we're that the with we ESI and hopefully million I had haven't contract the part to early Glenn in if $X.X before that, like, from what of OptumRx. anything I there'll in look demand back the we respect quarter. for had the

$X.X in I think million sales. it around was

starting see quarter. We we're the of X,XXX So fourth X,XXX the for to quarter. are written, an the the third being escalation first of prescriptions month number in already of that had

So grow for think we'll as in that on of that of we analysts type expecting. XXXX trajectory in were access be the get the the and we see we revenue that most demand market,

Operator

Our next ahead. Please from Fitzgerald. comes Duncan Charles Cantor question from go

Charles Duncan

interest the gammaCore though, being Sapphire first launch. know and as a Had good of all but and public that it recent prescribers. well on company talk get seems and to some here, publication I first, want not you but quarter and few NICE that, questions seems being Congrats by reimbursement, progress me it a got to to Pollyannish people that, me about to

prescribing on how that are seeing And give you terms on could the so in But information you're market. I many color Frank, provided, what beyond us wondering I'm prescribers you appreciate unique some that of prescribers, in they the behavior? seeing Is satisfied are So for deeply back that come are using refill And -- patients? for their they they patients practice? And prescriptions more? prescribing reinforcing writing patients? within seeing more are are

Frank Amato

Yes.

more I somewhere at months, or average, who writing consistently had were on over the XX on more pretty for and three month various the this seeing the we some we're cases like the about product. e-mails helpful having in we, five get prescriptions, wrote that mentioned around has period, on how been. come the also So in significantly mid-Atlantic many, many the patient the She's looking product quarter, actual that success is than of earlier. an patients And physicians one probably Marie they back have are monthly organization that back that a into area basis different a that

with we're seeing believe patient of their letters We've of traction So available into that should of a the number who product be the three lot supporting probably, this sent dozen a at our for neurologists population. the point, payers use. product They're United one across headache the writing letters. the is States we be this about the to used some confident very therapy metropolitan feedback that academic centers major large that for and will major pretty the areas feel support marketplace. broadly refilled across the of we're centers in And and use getting

Charles Duncan

What in patients of scripts gammaCore? hard And But gammaCore? I use market demand being what X,XXX are taking in over answer wondering kind the a monoclonal launches. of of gammaCore Or I'm is CGRP recent patients dynamics of guess antibody you're top therapy seeing with bite may the to be And then out October. on you are prescribed terms for with this CGRP really therapy? seeing CGRP

FrankAmato

to market And flattening that up frequent in will the waiting the the for there therapy. prevent who some CGRPs and the being were a a research, who think was indicated were they'll get migraine have CGRPs from Many prevention. launched, and marketplace the these month on the a into of because market that as together told society first that to at acute product or their using of and in of upon use. be waiting you migraines the of flooding when the I warehoused they way practices. have using be are so the on a our patients were physicians that chronic get was started episodic prevention a when saw first one know, in they'll market, early back for then secondary across using and practices an that May, be lot clearly patients both launched by CGRPs the patients, headaches type the in have, into us the -- the bit Yes, care and meetings patients And both product were the to we occurring gammaCore gammaCore be as of acute especially

that's we marketplace will occurs used used -- in in preventively we expect that be to the have the we expect product can and be be when So fully type regard a prevention be that the then and indication, product product only someday fully that the migraine -- of we a a will value pain our also manner differentiation month. like throughout be -- where CGRP both in or prophylactic breakthrough the for that will

of therapy have from marketplace. to board headache the prevent as try option to some both the to as on product and might us So as step-through headaches therapy an standpoint, to in in single well value from throughout value be have they the who type the patient a an every for or the potential opportunity treat we the month see a cost of occurring

thus great far. feedback's So the been from doctors

Charles Duncan

I'm I And efforts. -- know early question adolescent use wondering with the my final but then the with myself wondering I clinical really study, of am technology. regarding the you study of ATOM it's if And some days intrigued the I'm then clinical us a going anticipate. enrollment whether and of of over study give could any course able XXXX on feedback or provide that numbers we to timing other could or to that data sense the be not you're from data of

Frank Amato

Sure.

PREVA will in only of XXXX of be headache. early That is I cluster headache. a the is come -- think and part will first indication the the anticipate first product FDA-approved potential we for and for prevention the we study, sometime thing from prevention cluster our

have be breakthrough from about to to the field to X the an in we there out data. expect to So time study. at acute we'll XXX that patients, to we pain. going to respect study to can across we're study, prevent a X to way And data, night force the take using would then about it is you patients collect the look the With data to the therapy opportunity the your minutes occurring, twice so year intended therapy use the that the day a use It minutes probably adolescent have respect it and on in we'll will the our morning, enroll with about when data. of will will XXX in be for be we a collect short talk before an every clinicians day, from headaches again amount beginning, that which it a patient

we So XXXX, the have of that in by who of to in practices these adolescents. get complete marketplace. interest et chronic cetera. are able that I neurology trial, see assuming the necessarily we type the would patients end you They should I that not be as migraine, the type think mean of patient adults

So we're getting through identifying appropriate. the going them and the into patients to work as trial

PREMIUM part XXXX it's may data see those that some I PREMIUM, As the DoD across far a of wouldn't we given that of until a both of go, to as prevention see study, variety studies in the and read at our of because II centers the various there'll additional some DARPA. far the But been results pivotal in as our sometime both XXXX. out the academic some areas and or in. will data to trials from grant looking sets, pilot as study studies studies have rheumatology study, potentially be case pilot that in we'll expect And in latter different therapy ATOM have

Operator

from JMP Our next Securities. from question comes Turkaly Dave

Dave Turkaly

may last in Just II PREMIUM to to to longer, quickly. migraine the prevention going know Is have The frame? I the of in that one that take still come is label for be think possible of And time able could case? it that expansion follow study I label subset that you that get mentioned II, XXXX. may PREMIUM expansion still that that? a some but you on up you're -- use possibly

Frank Amato

possible, it's think David. I

sets FDA the willingness them middle meet PRESTO they a or sufficient to in then know-- and headache the dialogue, of part past, with back, cluster then of bring you headache prevention the our us taken have use use cluster we have pretty FDA XXXX. through early FDA to this work And of and in we as through And by FDA we have. prevention, data in in been have whether the through the instructed greatly like FDA's FDA, went to information open got We have clearance We migraine approve. the we'll kind for we'll which discuss as first the year. position that study the guide a we down Once with appreciated days of ACT a the which us part what they our with XX confirmation And of took to them acute acute got amount studies, regard. consider. with for we've that and to it's think to we back

We multiple it sets. do data possible. is So have

we pilot also in EVENT study studies as We have study, variety and been prevention. back was PREMIUM in of study And a X It well. in that have a published have pilot the XXXX. the published other which was Neurology

see bring and that collect it and back is. perspective information So FDA their we'll what to all

Dave Turkaly

of and million you Then have get total top out, million think be the on additional of if XX I I break specifically, it XX lives? mentioned remind between if -- in that PBM ESI I'm regional just you you folks wondering I Optum then, XX covered lives. you was helpful. highlights those press Scripts, would as you well, I the maybe any they today. assuming on stand the million could Express And But mentioned the imagine release and that's -- where have us, the and could sounds like now, more front, OptumRx. you

Frank Amato

Sure.

Optum. million those smaller they as is negotiating XX amongst OptumRx, aggregated have patients are will, from they've aggregated lives that you million. that That different, account if spending as a our of bunch for XX payers, be employers high group with well deductible patient types, next with So health we'll the that of to in

regard payers network. that the discuss point at Optum We'll in directly various lives they different that would to United. it's in be negotiating their not, and within work discussing their it United that with time, that XX million would agreement currently with agreement us be will allow to lives. be We with they amongst this With manage, ESI, for lives

X XX million million case XX the of the told, encompasses data all XX million million the of sets XX So XX current and or the million additional and we then have in ESI.

Dave Turkaly

being mentioned, brought And to then, that. in you adolescents, patients, pregnant addition women in had you think subset of I an important potential on that a and study

that, important by women that group, to that kind folks ahead. the that update of that be are just imagine age having amount data impacted looking And want confirm I are on this in So population any given there. may that some I

Frank Amato

combination. acutely many so study We're study will in study. look over published approval, take not Since therapy going may prevention as patients, data another for hundred publish run that speak. we Mark full payer that or really develop date because likely the Europe then that with be up with is will programs it's out that the of an we're participated since data use patients. to on what patients. Italy our regulatory to label" of It a run "a have which going or will the so set year either the acute run several a a preventatively acronym to not enrolling use PRESTO and for the that currently in that. to or publish support Yes, and break study. but sites of investigators be for in And to where That most the to REAL in then so not behind study putting we're It's both groups we're two in to post-marketing study, us get that's set, that one along presented will the That to in and our an predominantly not information. enroll post-marketing, be both, that's populations more the be that with regulatory as and calling it's product study want trying well. We're different REAL, a CE to or a patient a those study

Operator

question Sean go from BTIG. Please from comes Our last ahead. Lavin

Marie Thibault

if I gammaCore patients program. Sean wanted on for the understand could sample I tried Marie they've after and It's happening what's better little a start tonight. to with see

the through seeing who what PA see next going quarter? process prior of on guess For percentage the many I give any with those if is through of expect insight us to or patients can success any them, that And it, long have appeals? you how who's should who's authorization taking? we process, color are you going that more And how into

Frank Amato

Marie. Sure,

October being basically market in XX, free provide days therapy to given an denial launched us advent up trial payer Sapphire opportunity the and to sample they with of it's the of fully the a their process. through as appeal the navigate a card So for XX on gammaCore patients RFID to or

fill they submit as really working traction the an to stay with prior authorizations because that relief We forward providers back and RFID to program are prescribed fourth on as we through as well letters get them It's fight and and their opportunity the out here through transitioning order having expecting have payers. into for more written quarter for the themselves payers. to therapy working onto to and into in provide more patients and card product that the getting have their the move more then are

and to quarter me, successful Whenever prescribed are therapy within process or really the therapy they different stay the who patients there that's to And through out all network a been them period. their PBMs, and that on all meetings people two of patients our past So great that beginning with we or ask within have creating payers of demand the or or their of who are network the trying around that therapy -- quarters that's have the with on establish from getting therapy. the to our aggregate time there there. kind number way excuse year. are It's for the benefit thought different payers the the demonstrating are the over us us willing

Marie Thibault

Okay. what's have patients properly on as we covered the they're strategy for covered covered providers, And more your early guess a -- national to so targeting of lives how plan payers? then, kind I patients? it are What so enter Obviously, sounds these the like national of thoughts by payers, you'll target game XXXX.

Frank Amato

Sure.

patients annual really And the treatments. of in that's been on information is we've the past neurologists approach, about again published for an the are various current groups seen we our the the somewhere X,XXX headache patients migraine many marketplace. on that and was There's at years treating about neighborhood the advocacy who which point targeting. there in or focused patient that X basis. are in over Triptan so over that with folks million the Those That's the this collected For million X States, by data about that are have therapy. see United neurologists, dissatisfied are with XX and dissatisfaction these by over the different been of patients

as somewhere prescribed these breakthrough are headaches are mean Triptan and our responders headaches. therapies thing more other medical and forth. out so those to to they'll we've and letters having many So patients burden having headache adding same suffice of as see are focus like this they've typically There We've fill neurologists prevented. had pharmacy now therapies some in to if failed way And physicians headache between advent We're or We're auth well lucky. forth. our hub out product headaches, with as preventative going the support one we help to patients, and with the they're we're for so these have say, specialists if and their marketplace. those with frustrated are Topiramate they're of process at it seeing XX% CGRPs, and still patients prevention of XX%, given our I be and them written, their of that options a we to super don't that specialty In XX% looking neurologists. additional that the therapies. more Botox patients Clearly, in not prior prior as auth covering are a prescribing that getting necessity products they But are the where so go most of of more XX% they the heard folks only are use to we you about. maybe time. pathway pretty hyper being targeting But studies with clear on, or prevention their some well. or will, our payer and pain care until the not in primary the on that network OB-GYNs coverage getting and have the physicians of

medications So burden we who, therapy in focus and suffering. that are therapies get the we our very in to and sure looking help patients ones ultimately, make taking that for on they're are hyper customers to alternative a to strategic right the support are the and the marketplace with order

Operator

Amato Q&A turn concludes like to At Frank remarks. This I'd over to session. call closing the for time, our this

Frank Amato

the say time of our our call I want market the today for on you thank quarter year. the everyone out with and in excited to everyone getting and forward third results the and Sapphire look for gammaCore get the about prospect to of reporting in the We're taking to results. to remainder about next the U.S. hear very quarter

you thank for So today, your time everyone.

Operator

concludes gentlemen, for and ladies the This program. Thank conference. you, today's attending

disconnect. may Good You day. all

electroCore (ECOR) 14 Nov 182018 Q3 Earnings call transcript