EVFM - Earnings call transcript Q4 2019 | Evofem Biosciences, Inc.

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Operator

Ladies and gentlemen, thank you for standing by. And welcome to the Evofem Q4 and Year-end 2019 Financial Results Call. [Operator Instructions] Please be advised that today’s conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker, Ms. Raskopf. Amy ma’am. ahead, go Please

Amy Raskopf

release you. the This Investor for Biosciences of Evofem webcast, The Raskopf, fourth can which access website. through Relations is Today, we section Amy the press XXXX. Relations. year results available and Evofem accompanying released slides, quarter you on Head are full Thank and Investor our the the financial of

Slide on X. begin, like forward-looking March as to this remarks call I‘d that statements today, will I made Before stated are you on These statements of only forward-looking contain remind as XXXX. XX,

may to to other in the disclaim company any the information so statements Although specifically in events occur obligation or new elect or do from time time available to duty we future. even forward-looking future, the as update becomes

description For refer materially, differ important XX-K. a results that report Form risk please actual our could on detailed of more cause to to annual our factors

turn I’ll that, the Pelletier, to Saundra With CEO. over call Evofem’s

Saundra Pelletier

thank us Well, hello, Thank call. for on you everybody, you, the Amy. and joining

So call candidate, our as Phexxi. with conditionally That’s the for this has new and contraceptive P hormone-free, brand just open to H. the an FDA the to with a word, name That’s approved one formerly that I’m referred innovative, gel going morning, Amphora. P-H-E-X-X-I.

does that’s hurt [ph]. the environment female XX and alludes maintaining strong the vaginal attributes: to brand normal of semen key natural inhospitable maintaining rhymes and the thereby acidic also with that chromosomes, provocative not sperm. introduced, probably to X is captures it it Phexxi P-H This by sexy works name The even Phexxi’s the mechanism First, several incorporates action. natural pH-regulating pH when

really for to to to allows it love the this and that that adults pronunciation quarterly Before our approval the the and name although of that name, embrace I note a the us in use new MS. we Ampyra, spelling determined And conditional brand Amphora. too drug move updates, FDA I was did of close to want name with retire on

disappointed, tested but that turned the and to increased it fit innovative women options be product. developed in Phexxi out number and a brand a and were name appeal blessing this we new for agreed perfect Amphora, We of overwhelmingly was disguise because the alongside

we to candidate Regulator forward, as Vaginal will the for gonorrhea. pregnancy for Multipurpose prevention our of of EVOXXX Moving refer chlamydia and pH the Phexxi prevention and

of important the just a year Now Evofem, November products a a and month in the FDA, company’s PDUFA quarter to was months We milestone resubmission assigned achieved the capped of granted undoubtedly most May NDA fourth for a and which XXXX date, quarter of away. critical it our short most exciting monumental XX so X yet. the with and a few review

a major the of IIb In transmitted of dangerous milestone: for December, sexually landmark we X second also EVOXXX line positive our trial Phase from or infections STIs. results achieved top prevention

Results EVOXXX chlamydia and XX% gonorrhea of risk with in all consistent trials, safe demonstrated that provided rates in reduction well to and women And compared relative was tolerated. previous placebo. EVOXXX a XX%

of the XXXX, particularly million in cases results the in to reported of for and U.S. of transmitted the reported significant year incidence rose compelling when consecutive that consider chlamydia a the are according XXX,XXX statistically you These X.X with in sexually nearly row, CDC, infections cases fifth gonorrhea.

female do often these protection are for Additionally, of is controlled, existing infections. women not and not condoms, The condom win the no which prevention either for there are prescription products approved only of negotiation. the option

them to recently engaging and we’re us Phase forward with looking design an clinical the II regulatory forward The FDA end-of-Phase path and III EVOXXX. the on trial meeting, and granted for

approaching PDUFA on focused for date singularly are we meantime, the rapidly Phexxi. In our

we profile. first history a a new, have confident safety decades: non-hormonal solid contraceptive and established making of significant efficacy that a cusp for the favorable a contraceptive highly launch. with successful I in on with We’re the advance foundation am And

have Ongoing FDA with been interactions the routine. regulatory

Our is sales underway, organization. for and and exceptional our we’re talent recruiting well defined manufacturing process

also as our comprehensive name. We’re developing believe brand will powerful distinctive a as marketing we be and as strategy that

a also presentation publication on plan. team The and robust is executing

to the new next this learned data Gynecology COVID-XX We we it are yesterday, so from present College slated Obstetrics of canceled at due other meetings, to like concerns. AMPOWER many But month. been and meeting has

we organizers the this more virtual So data. sharing consider from look for hearing options potential forward as they to important

I created spent both Chief spent been has Commercial over were Before of extraordinary have want marketing, I and the women’s but call well that It launch health. now careers reps. $X We over turn is billion We a sales Barrans, say to teams. most both just Officer, lot our I revenue. We to Russ our Russ Mirena. responsible for an Russ in in time sales both importantly, of in

more go it this And they as we walked look walk. that a jobs. are want have sales but is recruit matters really that a matters working innovation, we on, premier than true They to organization, paycheck. their have organization that to that a which that to deliver has also we want They want, why they people already people can an the for

impressed. we different creates you organization to our see are on launch attracting will be of the of can And you kinds a when of people short It level assure credibility. deliver to nothing that I you trajectory, that this

to So who, the turn it would with launch of my trust only I Russ, like that really with would over that, to Phexxi. opinion, the I person in is

pressure, pressure. No no So Russ.

Here’s to you.

Russell Barrans

Thanks, pressure sure. Saundra. for No

this with to that confident team. professionals say exactly actually us to experienced building though, the feel on I got same Saundra, are a want I’m world-class only we I way. and I sales So most launch, you working the

experience We’ve we’ve of fact, managers. two vice leadership sales area wealth hired sales a directors, leadership bring the of our and sales large the to and table, team our a completed XX president nearly sales In and is almost complete. sales hiring pharmaceutical who regional of

to colleagues because can I their is speak or this opportunity women’s I really either expecting the this them Now going And all one to because in to on face careers, extensive to change track their former have people personally contraception the health. of expertise of these team bring day country. my are leadership in experience that they

know So wanted live you consultants I to job XXX that the sales the February. in out went postings also for

And X,XXX more applications. had something received within two than weeks, we

how this they who consultants birth opportunity different. yourself, is recognize really Sales feel like by shoes, control. opportunity are their join and walked have They to a that looking to CEO, in led about company female-forward female someone a an change women Saundra, has

to can, And number I a I to If quick are and like like. pre-commercial pivot of share. real efforts I to have terrific highlights I’d want our just what turn really

awareness the intend disease to health take launch care new to campaign that to that, out a of for need options highlight the providers hormones equation. frankly, we contraceptive quite unmet First, remains

month. about same the to thing excited execution this of and end the and of we time. be launch We’re comprehensive for can It print potential bold which say the unbranded both reach campaign, one by this simple sure. and at expect creative the I and digital simultaneously will

action to what windows might been Second, associated of six efficacy our to the or allows the our to help be there. we’re time data understand a the and related has months significant about DTC risk HCP accelerating DTC direct-to-consumer campaign that line any of contraceptive is, your be That campaign. marketing after product’s there launched. mechanism HCPs new Traditionally, follows safety

months. that We shorten period four intend to to

mechanism action are options uniquely the believe of story both able relatively to because because are eager do we women simple, We of and these contraception. clinical are the access in non-hormonal have this to and Phexxi to new

we make do to So sure on can. we possibly that our it’s part prudent quickly as as

we asked. always turning to Now get patient question which access, a is

market is Our now on access in engaging the ground payers and dialogue. team appropriately

And While payers all far no what majority it’s no copay along, a The women, which been is a saying covered something. deductibles. you we’ve early, benefit for that the will we’re tell receiving under still to remind of Phexxi and just let from be you, confirms out-of-pocket me that means thus ACA. feedback

And calls. sharing and patient those women more not we we’re card our the and along strategy, insurance as further for launch, other about launch market copay them pricing whose details our at of in those we finalizing look planned cover access does toward forward to our details get including

part finally, I the trajectory. at back what readiness, of asked launch their as other part look Now a about in products have our launch take this excited a go and and we’ve is I’m done is, to terms team what really of done

fared We look look to especially are successful to launches at some the most they their contraceptive. to modality, wanted what oral - compared contraception at women’s could the how date see and those so we of in

So what we at is were what First the looked sales we’ve at of X sizes things: force launch. all, benchmarked

the of what contraceptive advertising and the share Second, detailing in was efforts? voice

these determine based metrics, believe with consumers we favorable our looks to very in have with that effect spend penetration planned fourth, X will together it and of on our put will coupled Phexxi are awareness we a with other for emphasis, things a to appeal your comparative And based our Third, female-controlled of really of these on And the the right how to launches. does what side launch the for those contraceptive take natural, what profile, what success DTC? line trajectory of long that often analysis peak the was sales? Because get like.

financials. I Chief back Jay to Officer, Now Financial XXXX File, would our to the turn our it - Commercial to like over discuss

Justin File

AMPREVENCE. prior year. XX% total year phases of the decrease, million and million development AMPOWER Research XX% XXXX, the $XX.X costs clinical operating For of decreased to ended $XX.X to and XXXX. to December million $XX.X the expenses due decreased to was Of that compared during completion XX,

Non-cash our the General were occurred and lower professional and due with XXXX. by million administrative of January merger costs onetime absence stock-based personnel $X.X costs million decreased decreased and to $XX.X that during associated $X.X in compensation to XX% million, costs XXXX. services

sales These $X.X PR million in advertising, and fees pre-commercialization were costs. support-related increase a offset by

million, expenses consulting $X.X XXXX. payroll-related respectively, by Additionally, increased $X.X during and and million services

of due million expense in XX, December other to recognized the XXXX, the non-cash Total the year was half charges primarily ended first $XX.X year. for

As share - or per a for of the or $XXX.X year a loss result, share loss for loss common $X.XX compared of a net to loss December prior net a net improved $X.XX stockholders or $XX million year. XXXX, net with to of XX, X million ended a the attributable

of and opportunities Phexxi investments. Based on the believe anticipated we And our XXXX in million as evaluating May. further short hormone-free, runway. a are through cash financing term in that to on-demand, and funding approval sufficient extend currently plans, unrestricted current women-controlled closed have we first that contraceptive near-term We equivalents $XX.X we with

it back And with turn I’ll to that, Saundra.

Saundra Pelletier

you, Thank Jay.

is As of may milestones and women. been have March advanced know, you Women’s significant many reflecting that I’ve on the Month, the History lives

opportunity women of is and needs are to real, address the realm, player it’s reproductive new that sexual we have the that and in We but a significant. unmet

in needs. their are hormones and women control current There option is than option million What with do their options. that who doesn’t get and up to more who speaks pregnant, Women require birth to they an want their XX want are that more. hormones control, want don’t don’t want an protection, fed

Phexxi for the a significant pregnancy opportunity. of protection represents

waiting tells that’s $X if And research XX option. hormone-free and market billion women us opportunity. seven million we market women, of just were Our there out their for times million XXX,XXX in a those new, are prescriptions they reach that year, XX fill there to a

approximately even year. further that the people dangerous to a every significant prevent in Looking chlamydia we future, and X of gonorrhea, affects transmission the have two help opportunity STIs million

be Evofem the this about we’re to for determine a our path forward. to you to working look we We’re and FDA to is with us women, excited transformative and thrilled have year on with for This the and journey. best forward potential going here,

with the turn to back for to and operator. like open the questions call that, would I it So up

Operator

Louise with [Operator you. first Chen from ahead. Instructions] go Please Thank will Our Cantor. come question

Louise Chen

Thanks my I two Hi. for taking for had you. questions.

you launch had Mirena? you Russ, So Do equal call. on think that Why why the or mentioned can trajectory not? Mirena of Phexxi’s

congratulations question date approval I you. second the your name is, or this conditional to the you upcoming Thank that’s approval the FDA the Is of And for on not? PDUFA read had Phexxi. through a good at for expected

Russell Barrans

they the around that, thank that question. that And to you smiles Mirena, like Well, because that’s when great. they to say, talk is going question get asked, something well, So usually, is Russ that... table and everyone for about the think

Saundra Pelletier

Excites you. Yes.

Russell Barrans

awareness things, see, able I I some that of that But done of to of you HCPs, answer having key process. women to that the aware current around were is to the of bringing been through whole there question, so would educational the that think, all, first making have was the that what issues and sure options. an one

method later. years the the which category be to So like where when established, was a effective of able what were Mirena we Skyla, people I once in of like happened do going had such. to we’re is look at and really be out whole and they been pretty But to family, aware it getting launch, Kyleena whole go think most when the terms to and

the space so many So the we’re that I really do these in the women’s health at something like we’ve in market, women, won’t missing but we time women say same for approximately when this there on use this. and didn’t was I’ve Mirena around there today I and are as came doing because acting. elements said, ready anticipate, like nothing where a often long call, been have got this are hormones, that XX feel it we need whole think And to million

just this, came the two believe So as for is that decades right was Mirena when it like product I market. the timing into do ago exactly a

Saundra Pelletier

you second then, question. Do to... And want Louise’s

Kelly Culwell

We - yes.

answer Phexxi, while it of approval many decision the hope a anticipate actually to of be Phexxi. question actual is this read-through the the and from will of about the conditional approval upcoming separate we that So on one approvals, point

Louise Chen

Thank you.

Operator

you. Thank

next from with Ram Please will go ahead. come Our H.C. question Wainwright. Selvaraju

Ram Selvaraju

us questions. records taking at helpful start could wondering the what be That for with be much prior give few. have kind be performance you products involved qualitatively I the with that sales Thank It maybe profile that. would some history, helpful. anticipate been so for terms items nature? to force What composition and Thanks previously of I my you a least they’ve was around kind to you. of us their Hi. of would of track details promoting? know if what have and overall in they

Russell Barrans

Sure.

the one and give representatives, in areas for X is, of we start equally number which you cover east an that. Let those the that and me there managers there X each you. And have I’ll be briefly will And real just west. XXX of structure, equal areas,

design We’ve force. sales the worked of really closely with IQVIA around the

going we’re XX% all So of those and And top to with of key we the classify know percentages, health category. professionals they cover their as that non-personal are be to care prescribers that to not those considered - to OB/GYNs the do XX% few in are able this we’ll what inside highest cover prescribers: that all promotion be the allied that that.

it. health the fact this the care ready last you of about time, not disruption. have because just women’s We’re But of this maybe environment so at over excited is opportunity who that there’s of several the for been as most amount followed years, a fair

known women’s them. may other a to who have So their it’s have have the worked with that ideal displaced past environment we’ve for people recently companies lot been of an they’re in going The from today organizations disband they’re not we or where the health they’re with care. really announced in either

on true, been people leadership, LinkedIn. a to managers who us we’ve is simply reached out experienced So really, thing to anticipate the based same think, to going and able be on group number the of I and achieve very, very of we

become has has places in one that And out this seems the about frequently. now putting this been and of employment with excited to people we’re reached already the know, together really where who of world-class experience simply force. happen sales we number As overwhelming, category

Ram Selvaraju

careers? or organizations, their track performance in top many, at in to you Would least it the performing of assume the point going some sales sort number were like be coming that salespeople if they the one course or at are records two with number be over to least that of hire, the their not people at at decile reasonable of most respective recent where

Russell Barrans

thing we’ve of almost in where kind who’s been of hard track what fact, it’s most we’ve keep exactly seeing. That’s the got this to awards. And got Yes.

who have actually might they people arrive we so put yes, bit so for actually little a And up to taking see what’s has. exactly actually that’s a of been far. But when scorecard place sports to

where we’ve doing I company mentioned something like never ours that something a seen it’s as an before, really just And with opportunity start-up not to innovative. this is excitement start that’s earlier,

women right that notion they now the is the and achieve been in But same people come they’re big reasons why that one want results something places. they’ve in done for difference that this missing of to here has other whole expressed a making kind of

Ram Selvaraju

just to might just when then actually And indications it’s be scheduled, been was if you could you wondering other just meeting in if Has respect us Okay. been give has II may pursued And already end with the sense potentially I prevention it it can Or the that STI the of here. occur? clarify. of happened? scheduled? a indication Phase

stage on kick you to just also, indication. next the that clinical perspectives anticipate some when then And development for in off provide

that Thank anticipate the before you. you year? happening this end If of

Kelly Culwell

Yes.

we So Phase for date our II in will end have a been it May. meeting, happen of granted and

we we end - happen. have for first that We year. prepared Phase that, are in of will we’re III this for document and so our for our study that And briefing to we track the on the patient have before do anticipate meeting

Ram Selvaraju

quick one Okay, then fantastic. And other just one.

future Given the if whether to to anticipate from mitigate just the any? from having this decision potential disruptive stock I might price what liquidate, vantage impact regarding or done of be perspective the that, any raising. of the wondering potentially recent capital And point was announcement PDL’s you either

Saundra Pelletier

you Well, start, want do to I’ll and add?

Justin File

Yes.

if know to listened PDL’s call yesterday. you So I don’t in the

monetize which degree some would doing May. And anticipate interpret sense PDUFA it be as point, we harmful mentioned, fact to what take So the I reiterated was, you do that late are from of assets obviously the looking in the we anything by that think year. that I makes really of that like the the main to really that occurs an they end Dominique they think for Evofem. is know to don’t that, inflection Ultimately, away was wait really

know explore now. do engaged from will least, at a be what that we’re but they’ve every be communications very right that press indication anything damaging and release yesterday, discussion to Torreya from have, At and pulling from we us. seeing the it We opportunities, shouldn’t process least to excessive their or methodical

Saundra Pelletier

thing other PDL. been the engaged the and have is just to And that with add, in we Ram, very actively with Torreya that is positive

that And to they diligence. are to talk want so company, to parties want the and obviously, do own their the interested,

been we very have these ongoing so in and And - we all collaborative, discussions.

wasn’t And and it feel included, and process. feel good about happening have all, we that. we wish we very So of but the engaged been about we one, course, good at

feel So you we’re have we might because interested players the are who are very don’t as as serious that as shareholders. think vulnerable parties active. like we would And to

So, so far, so good.

Ram Selvaraju

so potentially for up that in that perform? you also were function stake perform could taking PDL PDL that that and clarification, winds may reasonable? previously anticipating currently just And whoever the holds the Evofem mean on that Is step would

Saundra Pelletier

that Yes, is reasonable.

Ram Selvaraju

you. Thank

Operator

you. Thank

Gershell with Our ahead. will from go Please next Oppenheimer. Leland question come

Leland Gershell

Hey, Thanks for guys. Good my morning. taking questions.

shortening, months, Wanted like ask from really plan’s Russ. together. coming X mentioned Sounds the on to to just the you’d X DTC delay

on which that something I’ve a Or just want Is the presumptively got you worked is drill that further. that something be agency? follow-up, to with I you get? out able Thanks. to So then that too. feel And you’d

Russell Barrans

really do brought formalized up our is fully the of that to require Leland, guidelines provider community actually in time. there’s to a to certain speed. assure agency the Yes, amount is no that situation asked care health people What

less discussions like that find based done feel as patient perspective, based story that like And a is up. just of could so what effects, like so in complicated trial X% we that difficult. we’ve side the the move had who even we we our not people not be is safety fact on than and an so for we discontinuation from the example, that on with profile it’d And yourself

it timing because all Therefore, X-month And launch part DTC November the start time then a through, mid-January, on instead was looking mark. picked the reason that ideal that to early way trying our it be the waiting we campaign. say, not try if to you prudent of to an in from is towards to that launch QX of end that’s

Leland Gershell

And a also I that then them, And extent discussions, little know that course, irrespective ask, other away, I limitations Phexxi? should other to of ask helpful. aware had wanted hormonal because if are if only that those we’ve I Thanks. of? the companies other the labeling the experiences we That’s from any Thanks. are PDUFA’s category to unlike ways with in of be but products had products fact there had you’ve this of still you’ve that, Okay. and

Kelly Culwell

Sure.

review would month the a So before our routine routine. been interactions negotiations our of standard start practice sort they with date. anticipate We a that labeling PDUFA the as period would about FDA during have actually

had in not we’ve around discussions anticipate the late any we would So formal start that agency with But April. labeling.

Leland Gershell

guess, media-based on for be marketing the or as months a but at Okay. social guidance commercial launch? your you proportional comment for would my initiatives, going you’re question, those XX could kind maybe look question. say, launch, of organization I last kind And Jay, let’s have, point, online I the you then to Is you not know either at your initial obviously, would of and Russ first sales financial to giving of allocate you’re the spend and over, what if this budget the

Justin File

area some given update, little yes, that not Yes, I in bit of comments of of And piecemeal that and we’ve of guess, reiterate kind kind I on kind a too. - general maybe I’ll a sure, an problem.

on working more of and on million some the annual a And sales to but that’s when believe is depends annualized force range range be of the $XX just the through we DTC anticipate when basis. million various fall trigger, range that will on So pulls Russ annualized it accurate basis $XX an give kind components, - itself an the now be going $XX that DTC will to we of within million. do approximately

year, Phase we that fluctuations, a commencement lot the should of relatively length greater spread to not the years. trial, be that be a out anticipating it’s could had for $XX mentioned, the That the about of at going will X.X which do And in mid-XXs. continue anticipate of G&A, of the run Kelly part with that obviously Overall across consistent the be we’re million. III would STI overall,

majority of fall in costs So XXXX. could the the

guess, I to a of as it breakeven But one we by ultimately, into yet, end of anticipate and we sort quite not we’re of giving to though guidance wrap XXXX. kind statement overall, that you, still the for be any concise all revenue even will of

Leland Gershell

Perfect. Thanks very much.

Operator

you. Thank

Our next Roth Yasmeen Rahimi question comes from Capital. with

Yasmeen Rahimi

Hi, Team. questions I have for three you. different

I question number is, So you one find have working trying non-dilutive guys running been to know opportunities. diligently

your However, in headed is as we’re dealing the May date and right all coronavirus we’re with - market PDUFA the challenges with associated conditions.

So together, can cash put need plan obviously, you to - in visualize help competitive order a for us the you commercial it.

that’s So on. -- slowed given market are condition, down discussions the given strategics certain I’m with with the pandemic being the also, going

So how in you months? through handicapping that. are the Everyone’s next lives few affected being is that

pricing? in you how give after your little is, - copays two you of pricing of if how number What terms the for important a work color know on done kind women that could and us Question I have negotiations. bit label and is discussion began

bucket And then trial design of different sort of color it? we the gonorrhea being just more third prevention of can the assured and of of things. trials. are chlamydia Those be that the are is part known three What of on sort

Saundra Pelletier

Okay.

So with you why options? start non-dilutive don’t that, with

Justin File

and would understandably question come why good Yes, Absolutely. up. that

wait don’t around for as well that sit and things As happen. we you to know

proactive. darn pretty We’re

up and beyond through at So very to capital looking the including for we’ve working May. active opportunities PDUFA end of really of really been bolster position in kind our

currently market to - to current I anticipating been be conditions not handicap some such, on the As to near expect all be because really a movement at the do term we’re curve. that. a we have of us ahead this

pre-commercialization that execute have we we any hits. don’t to once activities even still and in on plan up PDUFA slowdown ultimately, for then all And anticipate are everything lined at phase

Saundra Pelletier

Then Russ, copay? talk you want about to

Russell Barrans

Yes.

ACA do have So indicated gate. out to months you as market, products they in to the what to covered bring X many payers of new with it. the determine us that up have they’re have position to people will Most at know, out when going

have just because will and acts at copay been deductible sampling get for one so no it has will challenging. We that no determined, has first card sample card that a today a to all, copay, already copay women their at like become more allow

And assure that their card, moving the copay covering still it have won’t that, as plans they from will then forward those that’s start it, require the but to who in point, do place case.

we’re working does actually work, still to [ph] of our terms in from with optimal right Putnam lot determine now perspective. pricing a this who of pricing, be And pricing what that would

so clear be guidance later to able we’ll And give on.

Saundra Pelletier

Kelly?

Kelly Culwell

Yes.

we question ideas on looks So with and design that do point. I for design Phase similar around trial around of what at will sort - be think the what the was III Phase the trial study like study any that regards with this the saw We to AMPREVENCE. anticipate III

FDA that II meeting. end-of-Phase it However, is the at one with discussing of the topics we’re going to the be

the additional forward. provide discussions and And our clarity so able we’ve with agreements to moving FDA had on their after be plans we’ll

Saundra Pelletier

your that Yasmeen, does answer questions?

Yasmeen Rahimi

you, Thank answered. Yes. team. pretty are They

Operator

Thank you.

go next come Markets. Capital ahead. question Stanicky will from RBC Please Our with Randall

Unidentified Analyst

is This Ashley morning. good Hi, Randall. on for

more to and the recently the in be be spin, one being space. a looking that opportunities announcing the for announcement an seems So in there women’s bigger of will health BD space, Merck in spinco increase interest

means So I front? platform in guys any international you you’re anything guess, that does or a out that internationally about uptick partner kind opportunities as change more whether Thanks. plan, your the there generally seeing anything is think on terms of And to update of building here, strategic in else? this interest

Saundra Pelletier

Yes.

question. the thanks for So

and care parents. their are say for decisions can know what the their that, as here’s themselves is you I’m are their sure we women and the We that consumers. thrilled, spouses I So women imagine. one, I guess often would that absolutely health We children make and know

we in so about interest. really are the And excited uptick

the of But answer who in people influx yes. even short We discussions meaning fit team. really have more a collaborative positive to be had calls an would commercialization that assets with have is incredibly platform, direct, and actually U.S. perfectly a

women a lot intend takes already care health the it and discipline, is we We medical And no premier of small task, to science liaisons. organization and amazing a organization. have sales creating sales have

payer that’s We team have exceptional. our

makes in So perfect a product putting sense. portfolio our

discussions And turn, we’re organization partners maybe are U.S. fruitful at very would outside the for look so we looking And want the somebody having Phexxi to also who in that then with U.S. partners in their of opportunity an where they there’s

purposely tell contraceptive licensing on with discussions you study just all ex for chlamydia that results indication. we our because I the those of So down and were IIb U.S. discussions around the Phase our will gonorrhea, slowed

larger, much upfront results, significant Once people very the would would payments, it players very, different that which allow clinically and positive. escalated saw actually conversations much were with bigger be

with are So day, the would because have having say about a that talking outside No? I the indications we ongoing know "soon of be There contraceptive little pivoted don’t the are as discussions if bit the STI is to no discussions, but of the and U.S. forthcoming" yet, still the ongoing. Okay. announcement you but the of both add? end I now guys conversations anything have very, much to at partners we’re very

Unidentified Analyst

Thank very much. you

Operator

you. Thank

with ahead. come question will from Annabel next Stifel. go Please Samimy Our

Annabel Samimy

simple angle Thanks to notice limited Phexxi have an side taking my effects. but to answered, been story, have call. it’s for questions interesting I seems consumer the Most also it, a and of help the couldn’t

is approach In terms product to can taking market? to the a the and that you accessible approach part market, like are to patients? consumer approach be drug of more like make more of it of that seem And of prescription you all consumer are your of angle a less to a

depends the of for - was pretty touched classification I your of of most how on I curious secondly, And novel good know contraception. question. And know strategy part, much then the classification has you the drug. mandating the ACA - about on the coverage this to just been But payer

any changes mandate, If are things it, coverage any and the Thanks. changes to there the if in there to at Supreme to terms ACA are Court. sitting some are risks of of that given

Russell Barrans

Great.

aspect a this. important When it for to prescription: are first there’s of be aspect thanks why we it really look a a think counseling a is of important the at, of prescription, all, for that aspects take So those is One questions. just two we

is there know, all we activity. systemic As no

use it don’t has you or correctly, product zero the it use don’t you effect. if So

sure with So to important that every sex. women how act it’s they understand us assure for of use use and it and that to each all it make

the really So with discussion be health professional having is to care going important. that

as for in category will is, women mentioned, certain know it. who category. a we that the And asked brand very you’ve a get this It consumer-sensitive

for making it as possible as we’re easy So it. get women to

a it through a have go lot their pharmacy. We’ll so or to very them Phexxi telemedicine to significant in that of to don’t get women order from acquire hoops have sent the effort

to responding pretty that significantly. we’re So

posted out did know basically what to - this be efforts went digitally non-hormonal interested we that women to we online do where responded positive. when around And exceptionally are went DTC, a for from method we the women like AMPOWER and we in would who

their to So to women we do volumes of go ask will large anticipate that the health to this care product. drive provider for

has everyone of in one stand-alone. different a without action really And the really at when around mechanism that looking ACA, we even being started the the us - classification, that it is next things recognized question of makes is our different

products So fits payers, stand-alone, it know required kind fits, sure try same even categories as of do and necessarily modality see maybe that one as other categories. into they’ve as be the most where we XX in we’re of they fit for theirs, couldn’t that have into we’re of those that’s to forced one of not those this a not a already to a those if we’re that to if said, stand-alone,

that. going So disadvantaged be on we’re in us, based for not to way any

tell this, did can States, it. they to the XX% our would about in of thought I and that lives is represented we United we commercial who talked cover is before, research and learned we the What payers they you market

is they’re market research. actually team what our payers, there out them those that in on the exact we’re that is things finding calling heard that telling access market we Now face-to-face same

is we’ve pretty told going but covered positive we’re ACA. line, been not impacted we not in this So do that be that to because XXth under pretty our that be and clearly stand-alone going a by to of a have category not strategy we’re question only to or we’re have

Annabel Samimy

Thank Great. you.

Operator

to showing remarks. this queue time. Pelletier call back for Thank the over further turn like further in you. questions no I to now any Ms. I’m the Saundra at would

Saundra Pelletier

world. there’s there a and again. know in want all your a I thank things you time, just are of that of take distracting the I that lot to lot things happening

very to So appreciate took continuing of We you. this update women’s we that grateful forward we’re you look your health, appreciate, your the and call and soon time very, on to we and be support interest really to with today. ongoing and you speaking

great rest a of have So day. your

Operator

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

may disconnect. now You

Evofem Biosciences (EVFM) 12 Mar 202019 Q4 Earnings call transcript