GBT - Earnings call transcript Q2 2020 | Global Blood Therapeutics Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings, and welcome to the Global Blood Therapeutics conference call. [Operator Instructions].

As a reminder, this conference is being recorded. I would now like to turn the call over to Stephanie Yao. Please go ahead.

Stephanie Yao

to results conference XXXX for provide business welcome the to and and a financial company's the update. you, the call GBT discuss to Thank second quarter Communications. of Relations Director Senior Yao, Stephanie and I'm Corporate Investor

progress will President financial Joining me on in followed DJ, update growth overview our second the our will an Executive will call give be Chief announcing afternoon, are Chief June and the research an an results. second ended who Commercial Officer, provide of the Jeff quarter business provide a and Farrow, Earlier Financial Johnson, on initiatives. Love, on will then XXXX. our financial to an David issued results update long-term Dr. Officer, of Ted Oxbryta's release or we Chief Ted the launch. He our our progress for other XX, quarter; overview this by activities and then press provide Officer, GBT's

like law. as you reliance statements from such The our press this place but disclaim page release. or are that passage by the materially well by update are obligation subject today's in report to of than as not at actual obtained and and that, would they we filings, be the as call cause releases Ted. our can that forward-looking any historical statements of recent implied Investors I are forward-looking call our to begin, I of simply differ company Information on to concerning forward-looking uncertainties. to on and made facts SEC undue over Copies are as contained SEC that time gbt.com. turn quarterly be not or results statements time required other not such expressed made statements our With we that most will press to statements Future and we to on the forward-looking should call on in statements. of remind to, are only could any cause filings those including, limited the website Form Before from change, our may this make factors certain risks XX-Q beliefs may events

Ted Love

Stephanie, everyone. strong quarter therapy disease-modifying patients. launch as GBT afternoon, focused and our you, Thank getting good a of advanced second the remain and had we Oxbryta on steadfastly to

that death approaching ever pandemic this an are commitment acutely we access of unprecedented and to to more who conduct We innovative accomplishing care. has global that secure than patients Oxbryta. are to It of by a on is against meet are pandemic increased have SCD patients' with the at need community. backdrop has therapies, deserve, to ability activities, access the impacted new The more patients At access health been from SCD COVID-XX. care needs they illness important and deep serving to environment head risk like GBT, an SCD severe the and and felt passion current including basic daily

on Oxbryta starting that positive from stakeholders. are As feedback and across are such, are that excited we we patients more receiving

health less to care patients. in initially new and than physicians quarter. prescriptions and due second seeing the second in by from was was quarter, us with the for trends expected, the The telemedicine. the of providers Oxbryta first despite The factors of partially that During one, visits a including with COVID-XX demand potential. inpatient X there impact in we are we continuation make offset are give in for our growth to Number we pleased impact the reduction increase on confidence key positioning launch, we strong quarter continue interest was and progress from our COVID-XX,

broad a is engage quarter. with Oxbryta that -- to in in-person and time are more to into which DJ tools more of have detail. virtual range Number engagements. limited the started health Oxbryta We see are providers prescribers teams our discuss pleased first utilizing two, to This translated prescribed field patients, care being in will broad in by cases

mix now our meetings care addition, data on In provider three, number more And medical and published of prescribing track, that indicates through decisions all half Oxbryta. a are our of lives nice health finally, payer exception. or types are than are covered

of to meet payer our goal by the continue the believe will we broad end We coverage of year.

soften potential that including COVID-XX. growing a our for launch the virtual of the we over use environment a the should improved We encouraged second quarter, of wave are impact that believe of tools

equipped all in to are particularly Many significant geographies SCD. than it surrounding health by patients. increased us local communities experiencing of prevalence with are still in care led interactions and has struck, providers first it While states when a increase new better ongoing high an caution challenge, COVID-XX of cases, to with deal and which in-person presents

the highest our this rates and on Texas infection we will and and The a guiding always activities of providers and our the with priority, to safety care country, monitoring south health a as closely continue employees principle. will patients, be are We across health focus with our California. adapt

based in year However, we will the are delivered expectations. half with GBT launch exceeded the has date. happy confident performance and progress first on strong of the progress, not Overall, Oxbryta's that are impact long-term to we our pandemic our potential.

lives results. second on for that, will on is turn With executing to plans to team entire can and community. call are expand change, the the the number on an focused over Jeff our I quarter of update We we our potentially SCD delivering to patients provide whose

Jeffrey Farrow

Thank we've compares $XX.X balance Oxbryta. second the of quarter $XX.X healthy million represents quarter net XXX% Total and second a continued results sheet. you, sequential million, increase. quarter, XXXX in the revenue or the which a delivered maintain sales from million was for to in of Ted. $XX.X first to resulting strong GBT This

coverage, including good medical through payer revenues by as early Second were well driven quarter underlying demand patient strong exceptions. as

prescriptions lower at a XX% insurance gross second coverage the which adjustment filled our future driven assistance. to and XXXB pharmacies, is coverage, Part we The be anticipated state. steady by quarter each patient adjustment was to Additionally, gap net net D by quarter, gross copay than in the Medicare patient will

was As sales expected previously reach will time, to we that stated, thus mix. to approval XX, net to Cost of XXXX, ended in low second expense. prior XX% payer were our as our the related manufacturing and gross $XXX,XXX. recorded incurred XX% for costs to X majority as of once Cost FDA sales at stabilize of the were over June anticipate we months around was sales the Oxbryta R&D quarter the

cost percentage in increase we a as future that late supply prior is of revenues needs have product of to enough point manufactured XXXX. is We that believe approval fully expect It into sales important as that out will to to patient commercial utilized. of periods sustain Oxbryta the expensed we Oxbryta estimated FDA

plans Oxbryta $XX.X expensed to in network. costs the quarter XXXX to in our lower same and not R&D by million production million the were R&D. COVID for Oxbryta expenses $XX due decrease with compared for manufacturing period manufacture R&D for impacted primarily We tablets any XXXX in or were continue XXXX. second that our closures have related was to expenses been in supply delays The

to in inclacumab and The of net increased the for costs increased per capitalize development for was the we quarter marketable per months by with operations Sales, XXXX. the employee-related compared equivalents and for share the offset per R&D ended associated commercial was services launch costs for of XXXX. ended million XX, to FDA, $X.XX Oxbryta. the our and strong in cash, period and cash and inventory. administrative Following months general costs, expenses million the related $XX.X XXXX were employee $XX.X million at SG&A period professional with the research June of $XX.X We Oxbryta securities to $XXX.X June loss was consulting and same X XXXX, manufacturing balance in to other March increased second quarter sheet of XXXX. by activities the in $XX.X the Basic with and due now primarily second XXXX. and and of diluted share in decrease the a increase noncash same compared expenses compensation approval including ended preclinical costs. partially XX, build-out compared stock with was million same for for XX, million with $XXX.X The $X.XX share million Net loss X of XXXX, compared the period with increased

we want to filed term continue and continue With We stage Oxbryta We a statement flow for investments, a confident million have to I plan to to other on access Oxbryta filing that of on a product DJ shelf for enabling this believe to to execute development the registration achieve clinical cash is launch. expire potential update have that along good housekeeping month. no and will due necessary and cash facility, to ongoing shelf that highlight SEC. to loan additional runway that candidates. while and with to the the I the with our provide under today us programs we earlier I positive our will $XX also clarify existing an near-term matter that, are over the we turn as to our strength, this position we the existing was now of our from remain shelf, the patients. plans get will operating call to use purely advancement

David Johnson

which launch the second further excited Oxbryta. and a prescriptions launch on in access will number are I Good Oxbryta, metrics everyone. of successfully captures made providing the prioritizing the will afternoon, with in to transitioning environment of minimizing speaks underlying good update into Jeff. care working and team to update we providers revenues, our by for prescribing coverage, for you on We disruption metrics another safety These progress net patient Oxbryta. the making environment by our quarter, the we that, adoption; start are serve. to an health the combined the Thank insights key by progress. of which X communities you, the COVID-XX which Oxbryta, new progress to our give payer demand; I'm provide informs virtual

for First, to lower with the X,XXX expectations our in for second new is line This new prescriptions. to quarter. approximately due There be prescriptions new during were result prescriptions Oxbryta COVID-XX.

virtual is so quarter continued However, to part the place the quarter stabilization second This into the approximately given the to to the we in quarter. to interactions taking in first year. that across adoption We third of due that have possible through from believe it's COVID-XX, this with is the appears will the prescriptions in rest And broadly continue SCD of uncertainty the stabilization an stabilized community. the decrease XX% encouraged the new are and see levels. telemedicine that far has trend decrease

limitations. are which recent are have there surveyed XXX% research, encouraged our SCD adopted of shows market some by telemedicine While in providers care that health we form,

to physicians SCD that example, not an not COVID-XX And support uncommon environment providers mind, new have and or an in-person until a in patients is is appointment and for therapy the For it between we are this patient the comfortable postpone office between appointment. number the cancel on some virtual research health and they an starting care in-person in interactions arranged, of a visit. initiatives to patient have GBT. shows With providers when our

aid During visual providing virtual with digital in the July, care providers. second quarter, use engagements in for care valuable our provider we launched health deployed we branded a resource health our And branded first website. materials,

in branded launched tactics which the direct-to-patient will the This of year. a communications, half the we be of includes campaign. side, variety patient our digital second augmented additional by targeted On campaign marketing

education to While indicated health respondents it during that there Overall, taking the care high-touch with and are that's about provides patient will of rollout, Oxbryta, prescriptions a is that needs. to our levels. and wide we it. maximize in stating in we they are number recent provider surpass COVID-XX is the patient and patient's first pre-COVID-XX support, we were improve practical support Oxbryta, to range and are further program enrollments the expect strong vast of that ask GBT each survey beyond, new nearly of interest and prescriptions financial majority source, already support time, over launch that real-time who to including Similar potential not customized likely still quarter, our new a the encouraged early working in their are X/X of this

to is over that days receiving the from by GBT patient to We quarter. XX source time are the in second prescription of pleased end the medication time decreasing around enrollment a

a and for data refills positively data the which of who In addition, early In that about time review patients order shows are on claims patients compliance. conducted lab majority charts, happening patient on get prescribed to we the of are data. being more vast Oxbryta, speaks granular

half Importantly, being year. with who on that nearly than we a patients half The to to range significant half baseline of across used as Oxbryta our of hemoglobin almost SCD. in grams is expands. experiencing more the crisis than Oxbryta combination experiencing analysis of its XX more deciliter, in And patients a indication of being and VOCs X showed finally, all used therapy patients, with and widely than Oxbryta potential prior results for a broadly demonstrate X per or the greater more that rate broad ages Interestingly, older. is which treat X,XXX a adoption started therapy is of are Oxbryta vaso-occlusive patients are prescribed being believe growth positive is patients

with second the metric, care turn is provider health physicians. I'll engagement by Now penetration, which driven ongoing our to

our customer these and and XXX between sales with virtual. achieving are are team, week field interactions of per most We XXX

While to virtual a QX, providers engagements. interest we We continue be as are improvement we health believe to it our this to and in more to able care the time, below become improve growing will levels, pre-COVID-XX reach that health and awareness a represent during metric over is number this care in-person accustomed way. having expect Oxbryta further an does impact of especially positive this virtual on activities providers

market SCD and that among specialists well. Oxbryta indicates increase in aided continues of June Our latest awareness remains top XX%, to overall above research as awareness conducted

plan months. nearly targeting United initiate XX% to Oxbryta XX% will States. Additionally, indicating reach June, in they interest are the we in and see practice decile our Oxbryta, and approximately physicians Oxbryta over our reached through approximately continue indicating have Since in next of to the XX% within overall specialists physicians X X,XXX they with their of health launch of use therapeutic providers highest XX% the we care strong

XX,XXX our customer highest of since has an interaction and total has team Xx nearly engaged targets launch. Our average decile had

averaging are we for we practitioners written of good Oxbryta All care are XXX are health providers have efforts prescribing approximately which base for have new a includes our XXX Oxbryta. end Around and the And satisfaction such unique to the experience quarter. look the to pleased in breakout and range overall of care per treatment were second overall to through This which almost approximately care who health nurse launch the demand from with need contributed are the interest second prescribers that launch being launch, the nonspecialists, continue new demonstrates limited achieving options quarter, of of primary SCD approximately prescription to for XX% the indication a prescriber X since for see virtual we that is physician a is writing This entirely the riders, of patients. and we during pleased at we as Oxbryta. Oxbryta interactions. believe providers assistance. prescriptions of written multiple prescriptions, and by prescriber physicians, When

Turning to payer coverage.

in are coverage setting Consistent the of and end for in of goal the all engaging broad our of exceptions. of through lives XX% to medical in reaching live. is by our Medicaid expectations published coverage nationally plans influence Oxbryta. the managed XX% all XX% Medicaid also follow-up year. policies the are the the targeted Oxbryta, XX% policies the plans either exception. of number stage Medicaid the XX and the This ongoing commercial XX% covering regionally coverage in end to with ahead schedule where or and of fee-for-service given This the secured This picture payers out Medicaid Notably, on of is overall We second by or states. growth have fee-for-service were lives have into in Medicare contributing of payers of access XX covered either at lives, we having breaks priority important states quarter, of medical approximately patients including lives states, meetings, through the SCD

and about XX terms consistent pleased X pharmacy coverage insurers, Oxbryta UnitedHealthcare labeling. which broad benefit represented policies million Prime respectively, are with commercial commercial with In we are of now that lives, Therapeutics, and million covering manager,

for an Medicare, of the Oxbryta Defense. example the the being important government government coverage their the also provides established Employees strong Department During families. quarter, covers This Benefits employees spanning of Schedule extending that Supply and the FEHB coverage we Health had the Affairs Oxbryta, Federal Medicaid, all Federal Program, Veterans another network with win for and through

progress Our front on that the confirmed our payer by which health the is are market care indicates providers research, environment. with access satisfied

Oxbryta. ability patient the obtain We services received support feedback positive our to on on have and

pleased we reiterate progress end year. turn the call are coverage continue I development with the obtaining broad now Ted pipeline. of over the like provide believe clinical to we will update I'd goal have that to We by will and activities payers, our made our with meet of an on we to the and to

Ted Love

DJ. Thanks,

label are patients As announced we SCD. a making to for progress In available GBT key our Oxbryta and with positive expand plans to onto are we the approval as the having Oxbryta European the our consider U.S. years living is patients, we to initial impact FDA to children make X secure June, priority for to we and as Oxbryta. young old include all with for

application label pediatric starts because this the life-threatening in complications largely treatment damage U.S., option in early disease that will life. including by the appropriate in new believe mitigate long-term the organ for submit to an formulation we FDA, be to the due a that a this occur potential can mid-XXXX. For We of adulthood patient population, to drug to and progression age new the plan important expansion

Currently, Europe all pain. marketing on we years submit the to approved a patients anemia hemolytic mid-XXXX SCD by authorization older. Europe, treat application focus to in to therapies EMA plan and For XX in

critical has potential a the need. meet So Oxbryta to

allow the which efficient our geographically With beginning an if launch, commercial related clinical As approved. respect community to to in infrastructure concentrated resume are should SCD is and we development, reminder, Europe, for activities to a trials.

our are the and protocols sites closely clinical safety the measures on We patient enrollments. needed with trial working support new to

plans on monoclonal of clinical in human for the P-selectin to a half remain become fully XXXX. for Our to track VOCs. a We inclacumab study inhibitor initiate the the first treatment inclacumab, pivotal best-in-class has potential believe

work in and to the workplace to has breakthrough finally getting unwavering that employees team Oxbryta they racial attention environment, conduct national the Syros, of in Constitution. shifting bring want we I research to our Finally, of more continue to I'd it we to proud with also developing moment labs a with our collaboration the rallied to requires, excellent injustice, is our very goal passion current become of am which on therapies SCD. for a all original if envisioned like getting the our U.S. maintaining I day. closing, address every country the thank virtual and in issue while patients. of focus the take In by to are for

described these mass our color indifferent self-evident, that of and too Creator "We murders have states We to are that people often their Life, Ahmaud that all are of certain which unalienable to that Taylor be The to in been among of are live by Liberty incarceration due deal men ongoing hold are a to Floyd, with truths to Rights, endowed document, brutal Breonna and up created our the these in racial and all Happiness." arrived demanding to protests exploitation. failure a George of failure they been The GBT, our Arbery on paragraph, equal, second of pursuit where issues we a are across part point, It's and as of of our people. founding. realize We demand whites and both justice me company we've DNA massive pointedly that hopeful. which us by with have we our ideal who have as country's tipping forces made may our these the color are and at At are country, working founders. racial injustice since that will people

by SCD health to open broader and for We treatment initiatives like this Operator? for our are questions. address paradigm injustice. racial striving through we'd with disparities to the ideal With that, to live up those and with call changing the

Operator

[Operator Instructions].

of Our Birchenough Fargo. from first question Wells is Jim

James Birchenough

in strong the statement launch on that of end, the all Ted, at and Oxbryta. congrats thanks the for progress

is, in patients XQ, speak you one this you me Just since maybe to for XXX in disposition X,XXX the those patients launch, of unique X,XXX question between patients. those had XQ Could free and roughly reimbursed? of trying get lost are to quarter, have drug, X,XXX therapy on patients that retention to for? maybe a they're being and And that that rate sense you how have being to might up? just those of the cared follow come I'm so

Ted Love

First, Jim, you the question. for thank

I point, of some to but think sharing this I'll DJ give ask we're that details are appropriate. of specifics, at we is the the although some the limited in DJ

David Johnson

vast Yes. can said have measured Jim, the distribution good exact of we're patients. yes, as say we not refills. the comments, of out I that, as What majority disposition our by breaking compliance we the prepared is patients seen have or in the

bodes refills happening is are time majority the of patients, which of on it lot vast long-term think So the well patient. for the early for a for we compliance, although

would process. thing second I The are about remind patients some just you is in

in QX. QX of amount them depending payer time certain to some through on pull pulled through. So were It takes the from a

And the in QX of drug. pulled in actually the QX shipment getting be in will of some terms through

some are in So process.

that industry a common when at that of for the And marketplace, the or rate lost follow-up there's During kind is we abandonment process, to XX%. look some are abandonment. around

consistent So through and on see be to things COVID-XX, to -- busy focused losing now. if process. people the of -- we It's the we'll that some on are with very expect follow-up a And that lot with would industry that. right impacts

to So abandonment, there's folks I say some forever. that when mean and doesn't be going --

Some forever. abandon may

for just few or few a while a other things. may months work they weeks abandon on Some

So we're watching that closely.

net And process through then, a as really help folks. course, have safety to payer drug program the we always help. that a free things, think, are of comprehensive as work of a those said I So we couple with we've that act

free a drug on be So program. to patients going go there's percent the certain of will that

exceptions, through the think, or are process, formulary whether acceptance going have will in the Although we getting payer patients those it's well. I medical very through been say successful, very through we that

as Hope for So we're paid plenty getting that helps. well.

Operator

of Our next question from is Alethia Young Cantor.

Alethia Young

good on to the comments I at end. firstly, being And very truly them. leader. Ted, the for appreciate I want a Congrats those thanks And for quarter. thank you

So find rebuttal? are of pushback? their just do of launch, you go? how potentially those cautious, conversations kind this early about to physicians have What's come curious I'm the And those about as -- what's of kind have when who those they around the starting Like some thing? had experience positions

Ted Love

joining they they you that being thank and commentary. encouraging gotten supporter seeing on And But about drug overall, sickle patients excited with is of drug. our on remaining I'll a patients of tell and hear call say, a once them what about drug that and I Actually, for are drug. their difference and the quickly, generally colleagues In do. we've a cell Alethia, the and company saying for more get ask the are that the drug general, the makes the what add we're some we're get through to trying they the the networks to can to know friends their not who would excited drug it about about DJ very pushback. lot and on on

that is patients course, of time, of physicians And over I focus hemoglobins change. think, with even makes ultimately, have, lower sense, first. seen me, to that going to on but, We kind

going they irrespective is of that hemoglobin are irrespective drug of of say, in DJ history drug and I now because VOC really as the Although after the the using will group a the understand of disease. referenced, even fundamental base molecular physicians broad patients,

might hearing on But ultimately or So things sense. hemoglobin segmenting you of elaborate start, make intuitively place you could a more DJ, lot maybe patients low doesn't pushbacks some But does you're sense. that a as make

David Johnson

Sure. Ted. Maybe just one comment,

consumer to on times buy courses decision. before in talk you and make back And no physicians they patients to that a average, any need And think are behavior my marketing. X consumer said college they I to different.

saw in some to early distribution. right the They need adopters, understand and a and the that the But we at ready it's Oxbryta gate, didn't QX educated XX of out to of some X to we need of last need start drug, really The vast were all. times with majority meet So folks, be year. times.

of few folks And right that out of so process the educating more and been in quarters, a many we've getting now that -- times physicians you're as possible. we're middle seeing to more there about for We're we on come X,XXX mean upfront I And a how prescribers. lot when during unique in at was still a to environment, prescribers. operationalize conservatism new board. COVID-XX, got of even this we're almost as

tells that new do really forward working. going year. optimized team a lot So to education of second the half The the me more in is this tools is now education digital of with

feel But just really So we good that. educating. that about process of yes, it's going through

It's that ready multiple make visits decision. them said, a in are getting we're not be before of to to opposite. they lot people a the are require of Ted As Oxbryta. pushback want on some from educated quite don't but People quite interested being educated,

Operator

next question from is Guggenheim Partners. of Suneja Our Yatin

Yatin Suneja

the you progressed? Were start. the vast those August? great add a might a to just uptick start, be only for have QX? stabilization. in I how just are as patient trend majority a my with of perhaps seeing on up color. And help patient the end could little July well. new me Let month-over-month start understand provide Maybe guys quarter months a congratulation if know bit us patient about you how you in And to Could you more in the or drug holding new the that new assume fair weeks takes patients on QX, it into X is X,XXX that at about it and then to the given regard X,XXX mentioned

to on quick they the if sorry. the And then you last drug. X before weeks -- comment anybody where last one was in inventory on who level, in are should QX for So -- QX, the basically, added Jeff, be one can

Ted Love

and the about your half inventory. Thanks, of to Yatin. will talk questions, comment first the then I'll ask on Jeff DJ

David Johnson

Yes.

start. that Those terms in new about I number X,XXX prescriptions announced. to are prescriptions. of So want Those think, The and enrollments the process, are just to unique I referred starts. that, not patient we've and Jim patient about the new be clear new

those can as be So in in process. are stated, many either or some we've process of

drug. going be free can Some on

can follow-up. lost be Some to

that So lower enrollment. we the of patients be give whatever for number start will than always drug number

then one So sorry, first you And me? point. that that's your question for -- put just I'm Yatin, on point, had, clarifying me what back was

Ted Love

was about the more ramp asking monthly. of He weekly, also kind

David Johnson

Yes.

call, an getting time hope so time, at the we we efforts lot that some well, QX very that's COVID the one. a -- had where right, cell some that in there's markets were at some patients. past being were were of the And interesting maybe of there lifted At sickle and end that that shelter-in-place was recall, hopeful, our light we and

were very time. even we on that I hopeful at see we communicated recovery as enrollments to started the we well. think the some So And

However, saw COVID case what saw has that was had of been was infections again. we actually the continued, course a there in decreases increases not that resurgence COVID kind infections. those this of as QX unfortunately, and had reversed And states

going terms So to from did QX to any in that given impact think, Jeff, patients and thus physicians seen the is be of in seeing kind add of point we're probably to in anything week right or I see into given good COVID the that get now. is for have of proxy given what country the in of any enrollment amount of will view, far forward what quarter, to you that? terms QX a in carry we've of forward, in able

Jeffrey Farrow

think No, spot that's on. No. I

immediate one that the we a that being We out to see noted averaged XX% peak about to which it from did trough of as the just we announced pandemic about XX%. drop. discussions earlier is in our course, the sort decrease. And talked prior at Of

might for levels DJ proxy inventory QX. to question first just what adding we said, or quarter. QX at your levels, in had Yatin. discussion we is was the various so consistent your see And on good then distributors And what the a with in think as I held Inventory very

So you're inventory the perspective, really, apples-to-apples at from hold. an same looking

Operator

is from of Our Wedbush Liana Securities. next question Moussatos

Liana Moussatos

manufactured year. Can run Ted, us this My we pre-approval and book long remind to to question Jeff. up? the President sales need you you be you used for how how product going is for is

Jeffrey Farrow

Sure.

warehouse the to our or distributor. when specialty record sales, revenue we the pharmacy book specialty we So ship from we

for when it So going expense on long doorstep to when And R&D sort the inventory recognize their revenue. they last. order arrives we our how is is of question at and

late We exhaust supply. probably expect quarter into we this late continue into probably the year, that that before to fourth

until will entire -- through we pre-approval high that unusually margins inventory So we now. be get gross

Operator

The is Cowen. next from of Ritu Baral question

Lyla Youssef

new states This is the do I does seeing Lyla how the Rxs? But on the places regions XX that could Texas already patient? with from a cell know for you're mentioned seen those Ritu. this progress. that represent of that the trends wondering Congratulations you're regional California. key clarify please with prescription. I on And the cell new watching hit substantial south the sickle these if was you the to in you've relate you and majority sickle

Ted Love

even groups, we add to and smaller may mean focused but time We the Yes. I obstacle more way. really inherently DJ, that risk, simple interaction it terrified. at they're sickle DJ break big biggest and while some their is now. mostly with into with on to is I their get are a bother. that wants a through dentist just prescribing go really that have COVID. not picture I Oxbryta not going going now our point going do more, right wife as something to risk variability. I'm no, patient, that lot for But not comfortable saying, maybe checkup, to sick. smaller going physicians virtual on lot and and And right the more getting are and not. in my of you not of want provide fact go me are a And I'm general -- doctor spent not I'm In But haven't all it because people some patients, to that put given this color. some I'm My facing. their more we're I'll cell think to you coupled just looking

start now, try the we running Alabama, get sickle until exposure. COVID, about environment or I patients whether to whether there's doctor's in the best about in there's don't And California are So think But expect we offices doing can in Florida naturally, really safer. the we into to concern or to are I think concern in right cell whether physicians comfortable.

I about But than are very, doubly sickle add know. appropriately think you maybe more cell that. want maybe to I concerned DJ, patients

David Johnson

week, right the There's on Ted's COVID not changing for in CDC XX, disease June sickle populations. exactly geography, at-risk to by there populations point, by of put geography much expanded increased risk just out more Ted. cell list of infection thing. based at-risk fluid. their the to sort middle. the that earlier It's patients And it's of have were That's X so add, week right. But reports on And and

be environment. that cause So cautious little a things in like more to folks this

in pretty true that's any -- So geography. and much

Operator

is Our of Choi Sachs. Paul next from question Goldman

Kyuwon Choi

I baseline refills on prescriptions XX% patients, on that And to maybe are have of DJ of out perhaps. earlier, you on that sort -- supply. clarification about a wanted that second and -- some if I given half get you a from believe, trough bottles would by door the Did Just being the that the mean just maybe assumption XX-day these are shipped I the being that get could here refill rates by talked or is renewed, the then most year? be that helpful. for clarification the

David Johnson

I'll then the maybe second and answer Jeff with one as well. the help first one Maybe can

shipped. yes, are rates, those refill So bottles

their on are counting, people shipped really we're time. So getting bottles

hope which in bottle. COVID, but the majority QX, And see at XX hopefully terms so think of for in vast at stage least a I the is of really are of shipment the probably which we're QX, their corner, between on has there's this it for and have -- patient XX% solutions a time, some having that, a confident us. game compliance. good gives if us saying we're the a that's proxy around GBT patients, from every prescription, they been source that improvements for until -- But days, happening that's we far, in contact decrease so the set And are those, their next up of to good X-month

Operator

Harrison Our of Stanley. Matthew from Morgan next question is

Matthew Harrison

getting I and sort just how these contracts fee-for-service going? commercial for had I guess, that And that into cadence of from what sort the contracts through you're you. as of one, contracts is long-term DJ, of working you're I feedback process? wanted to ask or about conversion

Ted Love

DJ, about fee-for-service and fee-for-service is to the think asking what Matt. non he's you, I how that Thank Medicaid relates patients?

David Johnson

Sure. The managed Medicaid?

Ted Love

Yes.

David Johnson

Matthew. Thanks, Yes.

with XX their our prepared the fee-for-service patients they're in reside. very All the stated states them In cell XX as published with Medicaid, going are well centralized it's where particularly hub. we we now XX% the our exception. in comments, as very, states patients So patients of medical through Medicaid, sickle either through words, through through paying formulary covering other process for get fee-for-service the or a

gone so And that's well. very

We that that Medicaid mentioned so in great more services influence in by also fee-for-service the the that that states, the it's done be state. fee-for-service -- is often influential. why formulary can't this the have given centrally That's any fact, for because managed is some they mandate They is than run, formulary. important Medicaid the restrictive fee formularies

fee-for-service, important. though so patients managed having some getting the patients in in progress the success good of is Medicaid we're fee-for-service most Medicaid, And we're XX states that because with go managed states, on even through really well through those having as

and are participating the on. the that terms of we've early. supplemental of of in obviously, government. in any discounts contracts we're that thing on There's So on kind focused focused sort going to no We, that really mandated contracting

all that's gone smoothly. so And very

Operator

from question of Mark Breidenbach Oppenheimer. next Our is

Mark Breidenbach

question Congrats on conditions. impressive quarter a ideal from me. very X-part Maybe despite less than

question, a an if VOCs for expect evidence and rebound a and who part of really of discontinue hypothetical data. at patients really, upcoming I'm I which either And outcomes in And First certain presented of appreciate to questions medical been Oxbryta, and of concern clinical did see it's any wondering the conferences. demographics all, can real-world patient lab of you've your increased any my setting or I'm analysis like if review in a second activators. unrelated, you of wondering but claims that we effect PKR seen in has real-world drugs trials with chart

Ted Love

Okay. Thanks, Mark. I out don't question start about with the rebound. Why

a on was. VOC your couple we year, striking data hemoglobin last rate lower showed actually and the the quite actually were the important the abstracts your rose So this quite question. that on Oxbryta, And one, encouraging. data had Number higher very of

of it's not So the it antithesis viscosity cells viscosity, the actually are was causing going It's up. which issue. about red polymerizing problem. the that's the probably concern the that because is And

cells sickle was the And going were as protected so hemoglobin red disease. up, nature up going from being cell because of destructive was it the the

observed done of rate in placebo placebo in data studies. days we've there group. Oxbryta data the was, was Oxbryta VOC or about the addition, either stopping In showed than the that question accrued group to over for all the stopping an ever in Oxbryta, analysis was fact, the what XX in And also of patients placebo-controlled higher

that Oxbryta. they still probably So what for these VOCs probably that patients have hypothesis That's protecting seen is that the suggests we as of rational may hypothesis. decreasing of rebound a trend be than this more come Oxbryta off period the

as goes on positive positive versus placebo. been Oxbryta, hemoglobin Oxbryta lower data stopping the has it's been So higher or for VOCs and for

David Johnson

coming. question a real-world about data was There

Ted Love

data. real-world And

to want this to ASH have public. is of obviously the know -- exact data We time, year we what we'll kind public. be over abstracts real-world So at we we looking that get is that yet. don't make the this experience from and be of that will and will making gather data kind But

Operator

from is JPMorgan. question Matthew next Holt Our of

Matthew Holt

on quarter. Congrats the

what there one how per hemoglobin to low experienced patients that if with wondering in specific more overlap Just grams give than addition are between is doctors are able levels trying are or much commercial deciliter you're that us indiscriminately have is prescribing hemoglobin and of to greater of patients there levels a the to X sense hemoglobin that VOCs. X ones Or I'm whether Basically, understand doctors levels? targeting? if of subtypes

Ted Love

Yes.

sickle think that patients there the cell want fundamentally, aren't very But may there. but of you high reference, numbers some to hemoglobin indiscriminate, in I put data to lot pretty even with it's want DJ a may levels.

of So I very toward when have Matt, think, my data, X/X recollection, large patients the there is But hemoglobins X. you that going a I patients, who of above least X.X. the at is to look are percentage at gravitate

kind it if treat And absolutely about only would untrue. are only the doesn't highest people's their treat make want the hemoglobins on with want That's low because you viral therapy. to of people low, load true example, you to to the Oxbryta. very from you keep even where only die let are here. sense bad? viral bone Or and would Why this it's becoming notion very ultimately think load? hemoglobin their So begin for point to patients that with HIV, the that It's people marrow

has brought vision specific, to gravitate know I don't any that I the with people organ quite from of are add here they already as opposed patients sizable as percentage ultimately, after But to term, think the more but be hemoglobin's Long to So the into may greatest it's if perceive being while I a you X.X. Oxbryta loss want people need. treat X to intervene think, physicians do that DJ, having loss. above protect and even to organ

David Johnson

To right. point, that that's Yes. exactly

data with our over of at look we groups these One Oxbryta largest that -- X,XXX of started are claims patients. patients as have again,

X.X are categories One of X.X. the largest to hemoglobin

And still Oxbryta clearly above obviously, And there. feel so and anemic, it's X. physicians initiating comfortable so

particular, finding And physician, more patients more that be patient, it And question, lower it the our that and a sicker so patients, sense, mean the you Matt, surface. VOCs, your that be perhaps that you're as have more to think treated. of exactly to answer claims I A just heard we've Oxbryta our makes still correctly, in we I patient advanced If then lot of right. interesting course, an group, perhaps to if that in those -- patients well. found right? you're had or that VOCs data, I and scratched showed in the in tend hemoglobins of

And some together Oxbryta. with early the of higher hemoglobins, so use seem go VOCs of to lower

Ted Love

to due going the as where effect patients something that likely with frankly, with diminution allowing opposed is in that to or on case what VOCs on try probably and over seeing of resolution to time of makes with hemolysis. quite immediately of Oxbryta inflammation intervene there's resolve sense think an VOCs, to on I Adakveo works And And the we physicians, lot a high are Oxbryta. to

Operator

from is question Bank America. next Jason of Our of Gerberry

Jason Gerberry

front. payer the on question a Just

Adakveo? you complement compare if use wonder commercial the commercial I of Adakveo. X XX% proprietary pushback, of coverage disclosed, plan combination you could is Just your Novartis And are utilization And therapies? think, payer and seeing the any there think, coverage, I with for

Ted Love

some and different I'll maybe level advantage, for a will us And DJ the advantage but Well, are only Novartis, high strategic for a real, not in the of that's drugs the and think, for been actually it's patient. purposes. with fill strategic details, indicated I kind I start but think

to indicated VOCs, the fundamental treat the So which drug anemia, the the disease, hemolysis, drug is patient every one indicated the of other is suffers treat nature to from.

because quite know X that norm or why for It's pay of chronic diseases. X drugs So the in a they in have payers and lot seen frankly, started pay and life-threatening somebody They paid multiple we of for drugs. some CF. drugs Adakveo our myeloma or drug our the be sometimes really way combination X on statement, drugs in is to for other. because for pay They we that's the in both HIV. drugs not in statement. patients on hard pushed who limiting have drugs back is VOC history, or is, I VOC really one It in indication in have X

David Johnson

wise, inpatient they're They’re and differences Yes. big a through Part exactly and indication add between of benefit is that, I'll to wise, comments location the Jason. right, Part outpatient, just right? D. the wise, couple drugs, administration we’re B Ted wise, through payer we’re

in of around kind products. different very these everything So processes

that be the over So XX% through payers Supply with Schedule, want coverage important us halfway is for year Medicare, exactly goal reach end we the of coverage our Medicaid, where the at most making by compare of through be payer of sure broad And payers year. environment them. is the very hard to our very to to well. the very, is And to government Federal We're online. happy this are government going all

we good So there. like in feel shape we're

Ted Love

don't we've about that. done I every have in breaking but asking would we by payer. well say think payer, done I he But was that And out segment of

David Johnson

know again, process, comments time XX% Yes, prepared we're commercial that are my as go commercial we happy we're the we're and just I lives there. We of matter a at where through of up which, recovered, with the they lives their in update. mentioned do

So good about we feel that.

Operator

question Wainwright. Debjit H.C of next is from Chattopadhyay The

Debjit Chattopadhyay

fatigue, concentrated payers you doesn't directed a after, to focused lead if is So from in build, follow-up a increase question being you a by for may. in going where second the couple, hemoglobin, or a commercial prescription market. perspective, the with test it -- a if I you patient hemoglobin One, continued physicians is months very acquiring lot increase? better. a threshold would X really in you're European are primarily improvements per -- that? are cetera, from And of Or et and deciliter, say, if blood docs alone plan especially when should infrastructure feel to start it X.X do And it mg on

Ted Love

that of but destroy heard lot or you. when recovered, number again. I'll Thanks, kind up. it of as much, goes out given hemoglobin that, them that to do patients And energy physicians only of a physician, all number And may us up is well. as of to many terms patient I've and didn't is hemoglobin heard levels Debjit. better, making red where from as DJ cells one even be help the on it’s the you. you checking that spend comment therapy, we One back analogy, can up physicians from to I've the climbing lives the should go on And to help physicians going stuff tell they've what before starting me you give hemoglobin and dramatically different used can the the things Jeff it. what the is But patients should the scientifically life this their that I’ve of There hemoglobin this the do in about that here make. up ways DJ, I patients cells their energy to -- red you let now like a many that I that's very et work, think is of may that. want a with Europe. to had actually actually, oftentimes after simply because they start going and do also exertion feel But with that end quality in of And of way are terms cetera. one predicted like

if a hour. lined line miles out marrow, bone normal up line, you XX formed growing per -- a of If at would a and growing cell coming you red the it be form would every

sickle per XXX So patient cell the at is producing cells red rate of hour. miles

of So use for you that recover even you a lot things, some hemoglobin that going and your of up. can energy without energy,

other the cannot cell of red through rigid that have physically this sickle is problem because The they inside get disease cells capillaries them. polymer in

and can't add then oxygen, would And I to like So has be it’s off. deeper tissues finally, can have would we have hemoglobin actually a affinity don't polymer out, of can't really then get off. into red fall The can affinity don't could oxygen. red and in much they while so load traverse you they're cell would it, have oxygen people, a I enormous you cell deformable. problem. it an deeper that oxygen the that's left through allow the it then is -- of red take deliver that oxygen. of the the And that tissues, not just the function. But oxygen personally, think, the car And to train it cells if a the you I there, the if sickle that, cell hemoglobin, at capillary, you sideboards. hemoglobin without the analogy get with even in those plenty off. mechanism And hemoglobin get the much on why hold have a shifting when the And And some if strip falls red like stripping disease cargo cells

the drug. And over we're a to that's the to long-winded that a definitely is good. the practice that's It exactly clinical is of not benefit seen that trying correlation I this to between that again hemoglobin And I train hemoglobin with things clinically, why although but over by up answer, required and there physicians one the you we've the going truth. that going medicine way. be think perfect label. and don't is it's So is not need mean is

a get to post don't You treatment. pre need and hemoglobin,

your not from service. you're can, patients you But want. being of to able you patient the big impairs if You it COVID, during treat doing if it's that clear

David Johnson

file And next been just regarding we year that we've year. Europe, the obviously, half we've plan of to Europe announced -- the in first so in

in Europe, but we So started ourselves certainly a get to have lot process, Europe. don't of want ahead the planning we of for

know you that As may Germany, quickly in approval. after generally pretty launch can you

started it's roles file the But to that's as us very comments have want and Ted that that to his mentioned planning. our time all that all we associated planning build-out. to But drug and population. first of in also targeted in the Europe obviously, we prepared a some we've get patients with So and preliminary of lines begun the hiring of key with help patient

big with there our pretty difference a think can and be infrastructure few we tight make people. So

Operator

Our next William question Prasad Blair. Raju is from of

Raju Prasad

calls to like lot hoping earnings more hear a with I'm comments that.

important. it's think I

or that set trial? the that of these been the with, highest data anything I -- those from physicians like what's XX% coming patients you updated decile the of question quarter most put maybe them What's been of from getting here address profile the pushback they've up the some we there hit data the to kind quick a have And of in questions on that you've or, them. and on? that physicians? spoken physicians of Just guys glean of HOPE your it you've potentially seems Is can at access from from guess, fourth

Ted Love

prescribing is of. So as thanks not that many pushback physicians I appointments. us the patient patients we've like COVID their for to that of making earlier, lot the we challenge not a show the new been really a a been has is drug. times many biggest And The term, I for maybe getting for And before these said see the think, pushback is up think, question.

that's that we're And you use so probably to want that's -- pushback, facing. pushback term if the biggest the

recommends should might physician that that it. blood from gets enhanced There's relieved the test course, by but that label FDA checking in COVID better, our realizing Oxbryta. be with as also any be nothing the Of

need to You follow enzymes. don't any liver

on reason follow There's don't no need that. You to focus to hemoglobin. really

I doesn't to level time, tightly and So comfortable more tie Oxbryta won't. patient resolve. the think you would increasingly trying want COVID hemoglobin that clear You will become so up if over hemoglobin time, pushback dramatically patient? also, go drug it's because says I to become and But not to stop think will physicians the the more I'm over that in really better, the

going that getting hemoglobin the supply may way. that the any discussion So mean at in a with isn't to the -- any baseline patient

Operator

Catanzaro question from Piper Joe of Sandler. last is Our

Charles Frantzreb

to corollary, And Or advanced willingness prescribers? maybe This how your do if Joe. versus I at is sickle on among comments ask or about differences versus to for any additional maybe nonspecialists opportunity prescription wanted mid-level specialists versus earlier And provide the terms interactions follow-up to between prescriber on Charles prescribe relative if between differ mix. are how on Could detail a is question what you cell differ advanced levels any? what a between in there buying those in relative all? those required difference as groups? the less sales groups, prescribers, in

Ted Love

about been DJ, all questions five in have there. probably must It you. it’s to

David Johnson

No, you. Charles. Thanks, thank Yes.

anywhere really, X,XXX smaller if care week up that more in Primary adolescents add in we primary have make had a hematologists to of Oxbryta, cell get Specialist so So we the younger practitioner about sickle physician and from XX% in to percentage a And as that primarily the will disease high pediatric a hematologist assistants sickle U.S., pediatrician. pediatric to half lot But enrollments week, we from see can and health half you but little XX%. the changes The care nurse XX% physician group which, it are in hematologists to of background, of call those become from XX% of be more been some the or approvals a specialists, these that can are to of nonspecialists, month the docs -- they a that see by week in of small a a care. in of specialty. practitioners or given providers enrollments are on. about And are maybe about you PCP and that as are category. rest, call from terms anything give nurse prescriptions or a important care patients be given These are cell and assistant patients. that are the patients. younger -- course, in we've using far extent, primary largest those of have as hematologists,

that And group as so well. us is to very important

that you're do the volumes. higher have right Now specialists

we're to higher on we and make times. time we we physicians them with in that spend decile more and influence the those with be and And tend as involved more calling our studies to say. more specialist. going to Internally, do tend sure we're more decile, so patients They whatnot, and

And about penetration the rate we with higher population. talked a had overall or so engagement with than specialists the that we've why that's

just less in a group the and And of that we're important. because honest, longer rest they that to insights get the launch. tend It want of the from It's bit little and take specialists half follow the they the doesn't folks to be patients. that's aren't specialists the prioritizing first. first So have mean that to

makes it way. for do that it So to sense us

-- both. call we we're So built on The to teams what doing. that's our

so allows that. I our to like And us do said, reach

So on we're geographies calling all in team now. patients of our sickle have the with in country place top in we prescribers cell the

will to that continue of terms So of in time grow number prescribers. over

Operator

for back That today. would the I the we Ted to for like comments. call to is all time have closing hand

Ted Love

if We to questions. I again. everyone let want just the out reach Also, everybody safe. And to Thanks joining today. for call all you wish you. Thank want Yao, Stephanie to want additional thank have health I to please you and staying know, any

Operator

joining Ladies and Thank us. for you conference. that concludes gentlemen, this

lines. You disconnect may now your

Global Blood Therapeutics (GBT) 5 Aug 202020 Q2 Earnings call transcript