GBT - Earnings call transcript Q1 2021 | Global Blood Therapeutics Inc.

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Operator

Greetings, and welcome to the Global Blood Therapeutics Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow prepared remarks. [Operator instructions] As a reminder, this conference is being recorded. I would now like to turn the call over to Steven Immergut. ahead. go Please

Steven Immergut

Head welcome Company's and XXXX conference to Steven call to Investor Thank results to for the Immergut, I'm update. financial a of Communications the discuss and provide Relations. you, business GBT's of first and quarter

current on first Dr. Ted DJ, the we'll and our of Financial quarter; CEO, Jeff patient XXXX. the President provide release will Vice cell Oxbryta. Love, our ended Kim announcing on review are who Whitley, Officer, GBT's to close an Executive will care. on issued for update Ted then launch. Smith President progress as afternoon, Commercial results; Chief Officer, or quarter will provide this financial introduce Farrow, to access our will press update call week efforts an David our Earlier progress joined me pipeline XX, Dr. Head Kim our and and an for this March results Joining our first who environment in we and GBT Johnson, update then expand Oxbryta on financial sickle the Chief on R&D. the with give will a the business view a Ted

company as releases obtained SEC at quarterly Copies limited gbt.com. SEC forward-looking or Before that be from report but implied materially factors on filings statements today's certain press like our results concerning our that recent this risks expressed release. we begin, subject to, website from page most contained uncertainties. and historical to well actual are forward-looking in make in Information may I are by not our that statements to call not including, those of Investors we would remind be press as you facts statements that on and the can could are Form XX-Q such differ to of our filings,

of cause simply events statements call as may required other made, we are not on and to reliance change that, future the of turn Forward-looking you should passage statements Ted. any any undue call the as place forward-looking update or and by are time to the time statements, made only obligation law. this they I'll such our over to With beliefs than disclaim on

Dr. Ted Love

Steven, you, quarter, mission the afternoon, our make Oxbryta continued to on deliver The good the of Thank strong. discover, life-changing disease. and develop and people everyone. for first In launch progress treatments sickle remained we cell fundamentals with to

to a Dr. aged patients professionals. real-world continue start Oxbryta Annual I'd study at care on Carolina, data the by from of Pediatric Allen the XX of Greenville, We and Oxbryta two Anderson Hematology presented weeks South Oncology. to see experience increasing benefiting patients ago XX. colleagues presented from and to XX Meeting like Society health highlighting from real-world American evident just

our all events hearing been diarrhea what with many were rash, a had Oxbryta. modification. and rare. from dose of one Two HCPs real-world with we've is and long-term were patients HOPE Study. by For these exceed consistent per X.X%, grams XX.X% X.X percent milligrams by Adverse deciliter. are patients, on average, benefit reticulocyte the and hemoglobin seen with in total important deciliter, X adds had consistent patient in evidence and decreased from The increased to the potential the resolved results clinically and confidence per bilirubin These to decreased

fewer their visits and we daily lives and as to COVID-XX patients sickle disrupt to care. hospital pandemic. admissions have patients Sickle to cell to their access pandemic the compared continues physicians cell continue the of However, fewer expected, to limit health pre

of patients, vaccinated environment the this of indicates time. the sickle patients being majority early wary will cell vaccines rollout. In for the addition, we are that of phase Initial that of optimistic availability are take while will the improve in data the

sales, rate this quarter, All during growth infection to prescriptions impact we quarter. companies of by the had the is GBT's first greatest important prescriptions were consistent provided. in new expectation lack increasing We new approximately product impacted our the has many due because with XXX COVID. of the Oxbryta launch of like to been the in the industry, the

Let important an me point. make

of see levels While feel patients pleased early number can changes quarter-over-quarter. We we Oxbryta the such recognize as stage, inventory of there impact light and revenues, at are on we gross in increasing the the net end tunnel. to is the

every being making people more in know, herd States United progress day, vaccinated, the all we are As toward immunity.

when cell believe will trends the with For sickle think with is vaccine and time, toward the in those growth with these improve. disease, are XXXX. building our sentiment will person the sickle momentum we continue on patients begin team HCPS, we see believe reengaging comfortable and that with to Based we system, we more the which in patients second of health cell accelerated should care half happen to commercial

on on patients, ever. will the quarter and developing innovative physicians first patients treatment to over than I educating potential stronger call focus Jeff Oxbryta to an results. of is provide cell our supporting that, on options sickle and Our pipeline turn With our update

Jeff Farrow

$XX.X Ted. from net first million revenue or million Total the sales you, quarter of an of $XX XXXX, Thank increase XXX% was Oxbryta for of year-over-year.

our when specialty partners. the GBT recognizes is U.S. or received revenue distributor specialty pharmacy reminder, a by As Oxbryta in

that other of comparison. were a first the key in came quarter. the quarter in expectations, basis, factors months driven infection two revenue quarter, COVID-XX the sequential from in sequential of part the by X% in latter below of due quarter. the decreased more the revenue towards by There First the first rates fourth to scripts higher impacted quarter patient On part two new the our coming

quarter, built was first at year-end. At distributors days hand first up at down that quarter, our in fourth third the drew on quarters the four was distributors, in the and inventory, days the our inventory lower First, of approximately XXXX. end of than

however, a was the incrementally increased to XX% driven increased previous patient fourth to quarters, gross as shifts in of support quarters was of quarter. be and Oxbryta, of commercial Second, the net Net XXXX than number Ted gross items for insurance quarter by of mix specific which not over of the patients Also, for mentioned, co-pay in quarter, out-of-pocket as the compared every revenue the potentially despite and XXXX. continues in payer patients. our net offset enrollments increase benefit. taking launch, of first the flat reminder, we as to to about In an growth pandemic second want have reset impact, XX% to expectations included has second since net. $XXX,XXX guidance; have The quarter. the past increased evolve In effect gross couple expected, as a quarter return quarter fourth to and these more we as reserve given in deductibles to clear

For we the quarter, to sequential first compared the anticipate revenue modest growth second range quarter. the XX% in to XX%

expense. quarter thus on to Cost cost FDA for the first were a to both majority $XXX,XXX sales basis Oxbryta for low and R&D gross manufacturing the of prior were costs expenses, margin quarter of to compared turning of recorded the years sales as sales to $XXX,XXX and was incurred related year-over-year. Now first approval in was the XXXX as consistent of as

our during completely continue product of for will will of fully to quarter programs, to to compared end of which the $XX its as with a occur the in first expect revenue preclinical license. costs primarily XXXX. expense first XXXX cost to XXXX. increase expense expense increase million Oxbryta period utilized, The approval percentage expensed including to the was we $XX related prior in due the same Sanofi We R&D for of anticipate R&D million first the was in upfront related that the is half manufactured quarter the sales the FDA

III we a in with our the we sequential increase this inclacumab milestone year, which pharmaceuticals our advancement for payment studies later will plan a inclacumab quarter continue program, to Our to research GBT. second anticipate $X by expense in an continued X trigger collaboration initiate million advance as of and R&D Phase

rollout was net spending initiation the We in studies by of on $X.XX inclacumab other quarter The $XX Net We increase step-wise in expansion We first and increased a and period equivalents primarily our activities. XXXX into of to by multiple the was stock third as to associated expense the the compensation due further sheet quarter for $XX XX, XXXX. of other employee-related with the in with We XXXX, for million services $X.XX increased Oxbryta, period including $XXX ended XXXX. materials materials. cash, balance ramp was and million per diluted with the share for same same and $XXX pipeline-related and our XXXX. for $XX XXXX. well continue driven expense million noncash XXXX the materials, rollout compared the for million professional fourth period costs, million as half and expect a up a to compared marketable SG&A R&D quarter for as share loss expected at first to including advancement the quarter consulting expense SG&A investigator-sponsored and Basic support share efforts marketing the of quarter, both of securities studies. Oxbryta. cash quarter also increases new of Europe and sequential expense the in with per incremental in the in XXX per increase million $XX of in for continued same with we measured first driven in in was anticipate second the compared compared expect SG&A Oxbryta the the program December to SG&A in the commercialization see strong increase loss second with

the we to with growth significant future. call I turn position for And now a continue the of will a over that, with We operating to believe strength, are opportunity in that DJ. from

David Johnson

continued Thank afternoon, off the ongoing the everyone. commercial kicked with XXXX team you, impact pandemic. despite progress The good Jeff, of and

of into in provide prior are: I key will As adoption; Oxbryta. update net will demand; are our to which the patient the progress quarters, speaks done with revenues, health I captures you underlying give and metrics, insight for coverage, in three payer These we metrics have prescribing environment the number informs which Oxbryta, new combined which providers Oxbryta, around for further care access prescriptions progress. the making an

First, new prescriptions.

Our with reflects and of new was ongoing during in Oxbryta approximately our expectations quarter, for line pandemic. the XXX the the headwind prescriptions

that Here environment. data demonstrate current are the points some

real patients, the In community. that issue is no indicate vaccine are get and mentioned, first survey a vaccinated, in have current Ted waiting and XXX a to sickle sickle the as additional longer conducted more the vaccinated. than disease cell quarter, about X/X of to an much X/X hesitancy plans we results be potentially First, cell

cell actively educate others and We to community are the educating around sickle helping confidence. vaccine

environment, comfortable making our helpful of prescriptions across been the to telemedicine. were that expect general, pandemic and year-over-year monitoring Second, flat modest the subsides. routine new the And shows been new-to-brand significant and new to decisions as fourth has in in industry, down for looking commercial less increase as first growth quarters. treatment quarter, while pandemic. health research Despite about to the second telemedicine In we growth providers, third, this our building via new use we our of we the prescriptions XX% in anticipate team therapy momentum the come such of in are continue care a XX% prescriptions, starting more patients, the out the demand to sequential has once

efficiently XX% up are Disease And on XX,XXX Campaign target website had and our our digital stepped the XXX% field highlighting focused in campaigns, SED and followers Hematology in on higher month. quarter, of therapy. the which in last our on patients drive to educating increase Lancet plans, Cell which in Phase visits presented line and increase audiences. In HOPE patients to order Speaks ASH reaching Oxbryta support has was other Sickle was December are with stay a first providers Facebook, published visits for study, and actively to the In our XX-week health than start teams analysis demand and at page. III the than on there we in long-term more oxbryta.com efforts Awareness and Oxbryta, the care our help any are Our providing

a seeing impact are these We positive from campaigns.

advertising more that patients quarter, in one first patients hematologist a digital X,XXX month the after visited an our within seeing ad. viewed For than

trends Oxbryta of Turning well to within the persistence, analogs. range to adherence, and be which includes both compliance our continue

support addition, new that on recently focus to on started including and In get ways by brochures adherence, Oxbryta. continue we increase guides discussions launching patients' to

journals, stickers, We for side also app cap patient includes management a sheets, smart therapy, introduced treatment alarms. tip starting smartphone and kits those new which bottle effect

submitted staying been February, our website, disease to about In patients Data this solutions from research month. held transitioned addition, source high-touch experience starting to complement information the conversion has To our adherence we rates. in Oxbryta. and launched XXX% we on sickle this, model, GBT and in cell to a later supporting be in provides which conference for resulting better foundation gbtsource.com

on provide well key deserve. while also Oxbryta, patients sickle services in levels on patients receive therapy. In to continue that support Overall, continue these the specialty benefits during them order initiatives patients of patient helping they are in physicians as as provider of so surveys. their multiple our patient We our satisfaction avenues believe by high to awareness with source the cell learn Oxbryta keep patients to and and we possible, to to interactions care prescribing working support GBT reported with invest many have and the our pharmacy with will are patients more and build support as to partners extend support as their that motivated we tools health

also support of Oxbryta. to strong the market fundamentals Our continues research

For example, easy high patients increases well their when believe about hemoglobin. it ask majority and take, to we Oxbryta works a experience, is

Looking X,XXX per we levels at from health, of and lab penetration. to patient, care over XX% of importance the baseline metric, the recognizing have deciliter, claims covering Encouragingly, that and continue addressing long-term patients. our hemoglobin range to of hemoglobin my second which me X baseline Oxbryta a patients of and are leads greater polymerization the providers broad VOC profile patients grams care among health burden see health than data suggesting provider increasingly Oxbryta

increase with by and providers patients health the entered the new be continue team quarter care interactions first to our by field in COVID-XX person in we cases. limited As

compared months the prior, the XX% progressed improved we we into driven engagements had in-person to and health increase mainly to March, As environment providers. improved, gradually care overall a by several access in field

programs launch. completed than first speaker quarter since During quarter, the more we also any

which trend this at and riders, teams continues encouraging. prescribers potential have riders we been target about non-specialists, prescriptions go deeper long-term launch. both opportunity to specialists feedback existing to bringing we our X,XXX the written XXX engagement with and quarter, prescribers the added We continue in we around actively total new our new activity see by the been The data writers from to and Our educational field on materials. engaging look and with since highlight support prescribers new When has first positive and is the there to being of trajectory these develop and breakdown for believe list. tremendous launch to large of a be new our to

coverage. payer the to Turning

As of the we coverage XX% XXXX, we reported, States. in broad previously in lives United with covered achieved

levels. growth a call more Meeting demonstrating to are analysis, sickle to economic Bill are Ted. forward. Care confidence our On the person, preferred reengage related of their raising also working and drug damage focus a the summary, the hemoglobin physicians now note, reduced going positioned disease large-scale received Managed Oxbryta supporting from sickle support sharing patient to cell back the sickle they incremental we we the by one great hemoglobin and now for begin increased Our will clinical list of add recently potential the voted aligned state is Texas, levels I as end-organ and of a and data patients long-term Dr. presented longitudinal at turn In risk to Pharmacy of a to that Oxbryta. in cell value over largest with with potential with Oxbryta that on news in drive well ongoing to coverage, significantly of we patients. poster their cell highlighted Academy optimize populations April, In

Dr. Ted Love

the deploying exciting the and campaigns hear initiatives to you, materials, are new in about we DJ. It's field. all Thank

GBG's Smith Before bring the say get at pleased pipeline, joined our team, Dr. member GBT, in Kim? three I'm the Day Kim to of newest through leadership on I call Kim Witley. few words. a is to she and

Dr. Kim Smith Whitley

I be am Ted. Thanks part today as team. to GBT the thrilled of here

I the the for The experience and GBT a great based from smooth current and advocate proud peers. my across sickle treating am developed its joining some a a perspective for for to transition, patients. made I've Over organization be cell to to the feedback sickle and provide has for cell on in shared dedication as years, an investigator, I patients environment additional respect an my Company journey. clinician want on disease

well those I to patients, This the am and seen or I have take is beyond. many but for so back family is most health For academic behavior. patients some is lives unique staffed. I pandemic settings, impacted Recently, and seeking that sickle including visits. common the care encouraging tertiary in Ted that very more the care employment the XX their Philadelphia, team what sickle as be the is at COVID patients for seen of have to taking to to there the clinic, vaccination validate cell in created spent and extends care their care come been which by life That hesitant center years Hospital for have would a news, challenges the cell has has severely Children's this vaccine. daily to fortunate routine cell my CHOP, dynamic time. initially In sickle it comprehensive last said practice from going others, patients. DJ among about about

continue and vaccines say man are improve. we in-person other do on how population. while care Oxbryta's standard to general a and that That will patients am very But to thing more will and I of hard future and of long more the take. experience the using to one becoming aim setting care that return the care. the about based that its path is sickle build group time. lag that geography the I I GBT this to over said, transmission now for It's even pipeline vary increasing will will That of risk I excited turn continue get opportunities with With these of armamentarium a hopeful, in decreasing However, with call expect information, disease. in Oxbryta, to that broader for grow. momentum vaccinated treatment for will believe as a more to I'm there's medicine, patients. And exceptional about Oxbryta and confident Ted. on I'm back place excited I extremely cell an will

Dr. Ted Love

Thank to so excited welcome. GBT. part you We're and as you, Kim, have of

to get the let's Now pipeline.

the this which has monthly option, current potential P-selectin quarterly, improvement patients First, for inhibitor meaningful requires to inclacumab, that to a the compared dosed be very our dosing. is

Phase track inclacumab following an midyear. One reducing hospitalization. are BLC initial separate on are to We These XX-week and period, VOCs is two XX-day readmission to potentially hospital initiate X studies independent a indications. over enable submissions for for studies other two III focused on by on focused is treatment reducing regulatory the designed

pill. Moving programs long-term functional from one-daily Oxbryta, proof-of-concept provide small in polymerization inhibitor, our the sickle our our a these hemoglobin first to pipeline to a enrolled cell it mechanisms potential potential also with participants are of healthy If have In patients early-stage multiple distinct therapies. be targeted complementary treatment of GBT would cure a have from programs believe by volunteer data is the data two transform play Sanofi. preclinical expanding sickle the best-in-class with and XXX, to our The a quarter, bolstered in-license the we we molecule out we with positioned goal clinic, next-generation in the to GBT in for year-end. by as cell therapy study, in XXX

could and growth and to mitigating to we a top Expanding In our complications. blood that alleviate the early we younger States, initiatives. and as X the of life-threatening XX. priority patients label to sickling in is the destruction course disease now believe Oxbryta to modify cell children expand serious are age red seeking other to include United life Turning

Oxbryta track sixth the we Biopharma establish we our Turning Oxbryta in with opportunity are which including sickle European review intended XXXX. In to label in with be for us Oxbryta in have and eligible than for Brazil, to years. well the And the XXX,XXX to Council around is access live. as of Agencies anticipate of remain positioned America, India. resource East, on this of more we Europe. limited will Latin can in early our several regions the Cooperation cell physicians and cyclicality the marketing make continuing Europe for partnership continue through Africa reach leadership Gulf to partner, are and completed first EMEA We cell patients world bulk as patients geographic next Altogether, with continues program gain In sickle success. to the Middle outside goal, to we in half our a Medicines our explore make to region's GBT Currently, United plans expansion in bring long-term the a working closing, experience application, patients against its such and other geographies, the approval countries goal and available progress strategies over to patients give the States. similar we the

We have U.S. in the near-term opportunities to expand and into younger Europe. approval regulatory patients secure to in

be pipeline I to a our in also medicines. proud and want and GBT dedication, of am is part essential of have potential two best-in-class for which our passion inclacumab employees their realizing to thank and We the and to robust team potential medicine, the GBTXXX.

the well-managed Operator? transforming call sickle we like closer and our into a day, of We open goal disease are questions. commitment community, in to are condition. to unified cell our that, for cell we'd getting sickle to every the With

Operator

question. time, this Fitzgerald. Instructions] your from will first we proceed question be conducting question-and-answer session. comes Please [Operator Cantor with with Our a At Young Alethia

Alethia Young

the Obviously, launch. around it's

March, of part the part April. like, question scripts question? think has seen or guess, softer I is in you new what were of second like anecdotally two in next this kind you've Obviously, and to just is, seeing of now trends seen the that of April. to March quarter, hit to It happen, happen what that you one continue kind maybe first like sounds in So do you've were months. growth

Dr. Ted Love

Ted. is this Alethia,

not feel I us is The headwind but go. continues So where we very patients to obviously, quite for are ultimately we next don't going encouraged emphasize this to want report be would to their biggest that yet, that to about just doctors. interacting continue on with quarter the

stay in going have are telling not to In fact, wearing infected. not turn the Florida the risk patients that other physicians is places and we to get around people mask home, on getting not and evidence public transportation, around. increasingly good all that risk But are actively being this

great we that that. expect but future, along the set really want flat, said really half year second felt long-term of What all the We of year would basically the the about too we don't feel seen So and early. be to where we thought is likely we growth. expectations half we we've was would like the first

feel we we that. Although that's know growth think signal mentioned script. can quarter, to And growing we us, we quarter the that, in as we do that we second XX% in first for to we very revenues versus wanted everyone the are and think let in the realistic prescriptions, XX%

actually increasing each Oxbryta. are We the number quarter patients are of on that

Operator

your question. is proceed with question Please Wolfe Tewari Akash with next Research. Our from

Akash Tewari

in severe immediate hospital, who impact why I I been a Oxbryta of with limited you're big effect have hemoglobin hasn't back, few. these high but have VOC And have Since low run out keeping transfusion pretty XXs, patients well the more does stepping terms out uptake in have in it occupancy, Oxbryta that the to been theoretically, two, in for difference come head-to-head launch any a kind of compound red you like where kind of on guess it blood in kind the for on tops assays? may seem seems Oxbryta? has level. how of that a there preclinical Novartis have hasn't cell and half-life launch of Number it XXX, patients burden? HB

do that are compound low the lastly, then in that? the of on going in specifically allowing is XXs? out growth rates kind just to you of that's kind sequential mentioned why QX. occupancy topping what XX% XX% you So And to with of And

You're guided that community, hesitancy, in on and that today? XX% of specifically is you African-American the also vaccine growth XX% to that what there gives particularly you noting so confidence lot a

Dr. Ted Love

questions. I of walk want sure make I through Lot to them to try all.

necessarily So lot transfusion patients a are of chronic be not can on sickle cell stopped. that

providing many example, really We stroke. we on from may that trying and have protocol HOPE-KIDS we're need chronic transition if for somebody to to we that many, against have have add we stroke. do on Study free that transfusions, stay to patients seen that we're and/or is typically, protection are transfusions patients And this acceptable completely the levels to are But individuals energy transfusing off many stroke, not patients because many have patients, experience. the can this necessarily X that our on on people maintain so that those get prior are that They're due reported chronic trying But to to on hemoglobin transfusions come those the patient prove reduced discontinuing them more as are of to Oxbryta. your due you're you're on in adequate to around.

there. we success I So think are having

readily occupancy, XXX% That studied. Your XXX get dose can actually out. It we question was modification, a milligrams didn't highest We was day. do it. it top we the about hemoglobin that and

molecules. dose XXX% actually studies We enough to accept hemoglobins many can In animals of have high tox XXX XX% safely that in the our fact, modification. actually

So as of we high are counts dose The actually a want. capability trait. stopped to hemoglobin cured, see sickle Their can would we the animals lot their than effectively have as luxury at higher are are reason animals levels and the you XX% normalizing. we reticulocytes is,

that? get better data essentially to you we to on if the to then curative is So but the want And finally, really XX%, just go on Jeff data comments like the to unlikely to much XX% looks but can see any defer than effect. higher, animals, these add cured I'll you've maybe

Jeff Farrow

Akash. Hi, Sure.

impacting alluded prepared to see growth. is As XX% growing there's we grows that range, there's in a really couple in be aggregate a on number comfort continue continue revenue is on of Ted patients that of things to as earlier that to the first what Oxbryta. XX% number basis, really our that the to are one remarks And net the that

QX. as that So that's emerge we into see QX aspect one we'll from

relatively anticipate do is the improving although flat, of we is, aspect seen out latter March. coming half other of The that we've

the with on the given to impact that that we some rates don't coming us So infection of negative going basis. a trends, down think, is

hover to expect the So that of And XX XX having think to saw don't somewhere point seems us opposed we here at the two quarter. items. then that like we going the enough first the year-end real a don't around to it as to quarter. are in we impacted long at point on hand days in but major resulting is We and do those have history days we're second sort a drawdown the -- to, what this

Dr. Ted Love

do anything add want you Kim, regarding And transfusions? to

Dr. Kim Smith Whitley

other think I you Ted, main individuals for that to So, indications the reiterate we've with on red been number features those on altogether I than of or have are transfusions of come the to who chronic or frequency what able off complications just regular of with Oxbryta. neurologic Oxbryta really which seen, transfusion want that said units significantly the they or preventing transfusions cell receive really, reduced

what this by population. encouraged very seen So in we've

Operator

Ritu & next question. Our comes Instructions] from Baral Company. your Please with Cowen question with [Operator proceed

Lyla Youssef

high-touch are for model? and estimates by in you XX% you trends improvements range the XX% to that to of through in This QX said Maybe proportion your is on quickly analogs, growth driven you compliance on current follow-up what the improvement to just adherence. an and you're adherence? within then but impact ask Ritu. the underlying with seeing for I typical is know Lyla seeing And and of just it's of that

Dr. Ted Love

to DJ, that? you take want

David Johnson

seeing in adherence QX we Sure. quarters. rates Lyla, to stable are previous

in one that lot there. of a well analogs rate. adherence So of talked the that within news about XX% of the we've XX% range the We're past, year to not

changed. that So hasn't

that tactics a tactics QX bunch to out most rolled that in late or we've in referring out but talked we of of rolled about those You're QX.

come like include then guides starter thing. that that the of So we've such earnest, high-touch things stickers, QX. of brochures, started And and all get in patients for adherence started cap the that in the apps, kits smartphone those really, all that implemented bunch our tools, model the that smart through bottle hub sort as a

high-touch in the We do to that last know, So went model than little We saw lift works that, it's year. patients have on the model better for insights. we a low-touch through adherence a those data model no-touch early that example, or have for but program.

we've that year. to why that's this shifted So

these of sure year. tactics half update the we So that. We'll we you expect into all impact have on a be positive of to second get this fully to as

Lyla Youssef

All very helpful. right. That's

so correctly. that that want QX mean in increase? Just XX% understood And XX% you -- those modeling you're sure I consistent to that does to make to be for

David Johnson

Yes, adherence in rates expect QX. been absolutely. the same we've we it's talking -- yes, that that That's would about,

Operator

proceed Please Gregory Our comes RBC Renza next question. your question with Capital Markets. with from

Xinyue Lu

coming This you patients is there's potentially are Axis. far. to How therapy Greg. so reauthorizations payer the do XX-month keeping I for broad a think see great for coverage the was or about limit for Xinyue up? It's Oxbryta when X usually wondering, since on

Dr. Ted Love

actually Great. been I don't think that's that? on may concern, but you an elaborate of want DJ, area to

David Johnson

hemolysis the X-month patients are X-year a approving things for usually reauthorizations list it's continue. hemoglobin, good payers the to label a us. things at physician. that lot direction really of The And prior check Usually, good we than they metrics where therapy around ask. light since And they are to mark a with check one that our they and been mark is if of sometimes any in Yes. there's case, have want the how story or to our in in Sure. in the those positive of a authorization, doing. really actually in see have Most do

that of example, thing. at reauthorization insurance were the in that through reset being that, a patient assistance of ability our GBT aware for to able with It's hub, sense process hub, the that not helps been coverage through discontinued were And their of then time. co-pays, our reauthorization We -- aware those. I'm year-end, of patients work and our of source solutions the support manage patients good So sort could through cards of so year our year year-end we this to ahead really last co-pay at any process the that of hub.

sort significant And of of of off and so we that because really co-pays year-end. didn't thing the at a see drop reinitiation

with just see able and ahead So coming. we plan hub our to it

So hopefully, helps. that

Operator

Please Our question. next with with Gerberry from proceed Bank comes question America. your of Jason

Jason Gerberry

decision is, either/or Oxbryta good. physicians, sounds If talk coverage that it between of So my the to like it's and is challenge we Oxbryta. an question one for there's as Adakveo

So to it get if you be have to may Oxbryta. favorable physicians who might challenging , be more

and that sense of look curious. own drive get kind your so manage way? just just and And as your having in-house curious, better both able your feedback, understanding? that trying we being of then I'm your portfolio term, Oxbryta to value access those both blocker, of is mirrors to And longer perhaps of Just the a with and selectin

Dr. Ted Love

have mind comment you actually just DJ, would drugs in in I first to -- field, to you've these point seen but the actually Well, the Right. may keep on that different indications. the say want anything is drug

because intent and really of payer to disease, premature oxygen number VOCs. that death isn't Is the you of Oxbryta inevitable see scientific Adakveo treat a will actually really indicated of organs a there sickle we is approved with object improve that nature from the to the underlying reduce would So reason cell delivery, of organs the that protect the the patient. death

So And indications. patients prescribed know being truly drugs. that different both they I are are there are

DJ, add polymerization, might perspective? the their to typically really by patients but on really they Adakveo Now But dying trying use is change focus first. want the issue one I the a that that that thing you a to these disease any want had because physician they and XXs. wanting XXs, to in And their think we're a from physician to treating fundamentally think treat are that's in XXs what and to underlying payer if the deter VOC shouldn't, first bigger

David Johnson

Yes.

about a that's we therapy. of percent utilization folks of lot Adakveo. in of of XX% XX% low already but with a combination that in Adakveo combination is hydroxyurea, with double-digit Just the our to remind amount fair is that to And Oxbryta actually have is

There's And they data said, That So together kind these used used not exactly together. can't being patients. indication there's used Ted reason used in reason be of be of being some they mechanistic in them clinical fact, are no or together. is can't right. a lot of

about oftentimes of a payer so lot of data. will therapies ask without lot And questions new a a

be and our when the to patient of approved. few and used, extra to combination and process. there it yes, more a physician So to generally, we're It oftentimes prior takes generally get that an couple more able get get just But to work a patient they really authorizations appeals maybe team, steps our want approval, with steps and hub until we data. have tends

Operator

with Wedbush Our proceed Please next Argyrides question. with Andreas from comes question your Securities.

Andreas Argyrides

quarter much around in to And can attributed the to that what how in plans I telemedicine telemedicine case? sales then anticipated, if the be are of strategic is question guess, longer telemedicine? first persists Our pandemic than your efforts leverage

Dr. Ted Love

I are mean a telemedicine it. we've make that we question. It's always work would physicians work assumed actually using to because great

people the many be of think I part continue pandemic. fact, medicine to is In to forward going telemedicine think going after

something making is starting in is well important work of limitations, completely some the So among to however, telemedicine. physicians There setting that around that's new drugs us.

data could probably Some some we've physicians But quantitatively, DJ that are share on that with perfectly physicians are do physicians than those it. you. success comfortable obviously with has that. to more And had with reluctant with you that,

David Johnson

our with in up overall and QX. March And few Yes. an our in back engagements QX. telemedicine strongest activity, of are did have general, we engagements both seen the figures, pre-COVID our increase our month was field And go to in in a physicians QX. just Actually, face-to-face, in levels.

reached of in QX pre-COVID interactions providers So the care and health with number levels.

at those but in and more in face-to-face of we're early in a are still world. operational operationalize. more last dynamics And are are the on interactions Now geographies, in up telemedicine we depending fully the set very pandemic we on year and the getting through becoming majority telemedicine, COVID

and mean well, But education set right, to our this all for all in-person. both also up get prescribe person media for data have the focus our our who tends preference that when Oxbryta. patients some all educated environment. in-person Ted materials, in is And it's we to person, So to on exactly a and because our more that as internal digital of are to it's social of is our do in physician patients strong when are for and shows easier education are reps do that are

have should more fully to diligently preference this in to the ready is to our in-person to pandemic But environment as engagement. and necessary. work is, long as that's operate we're continue as to continue So proceed able

Andreas Argyrides

Can or... you prior an -- just this question break one. sales extra and telemedicine you not out -- reiterating And the is from

David Johnson

not of knowing the if there's We or can't -- was prescription can't. comes We through do on we prescription seeing the is of What really when physician so know we itself. really the a in, telemedicine patient having and through where no way engagements the generally, electronic our that's in increase submissions significant hub more -- a we they with physicians, in to saw patients that doing digital. with pandemic everything virtual to associated are prescriptions talking

preference prescriptions more telemedicine have than ever doing is they they're in-person. clearly, still so And do before, the to through but

Operator

question. Our the from Please with Raymond your next comes question line proceed with Brill Danielle of James.

Danielle Brill

help a more if NRX understand guidance XQ. your could So about I maybe bit guess, little for me just in you flat

if just is Or saw Are that dynamic there confident the majority late uptick curious If over course an that were conservative? the I'm this not your March, then you XQ? just and being an I not to you I'm you're understanding? in continue you think or trend seeing -- that, you mentioned in uptick of NRx of came more why March will

Dr. Ted Love

No.

the I Ted. is the think the kind really with the we've is been growth not are stay these -- And we we're getting choppy. very lower, allow directly. what gives confidence I of into mean, likely that we back is, start to will I which enrollments might doctors going be kind obviously, be patients need to were to range. go things not prudent And come mean, of numbers frankly, a in quarter-over-quarter. under, we last think, the kind to that patients to the We quarters. truth saying, X,XXX stay may their back Danielle, this We until two up And XXX, growth little predict are to it's to think doctors. be seen this a of we're to you going to in but get get quite I

we've And we at COVID need realistic the really -- though. frankly, We not quite cases proven capacity need that numbers not the it's behavior think number for happen, patient to to setting our only change. we What think in those it's conservative. we go is just of not So pandemic. down, is to be to that,

So That's the in going event to the still doctor. cove us. the cases down, triggering but patients for really could not are go the

happen, expect but we we timing. all exact that to Now know don't the

So comfortable which to X,XXX, DJ primarily. telemedicine through we're is said, as holding really

Operator

Zhu from question. with comes Wells Yanan with Fargo. proceed Our next Please question your

Yanan Zhu

Just have one. a to quick

of did a quarter? provided you have patient I on number the therapy past, missed you in give of the this number but patients might think on this, therapy. I

Dr. Ted Love

we've you've missed that. because never given No, never

Yanan Zhu

longer no for providing reason number? that Any

Dr. Ted Love

get. process I well like reporting through we And is figuring and revenue continue have, out which report companies, worked we and that's not thoughtful that's frankly, to a with give want to is forward of be guidance, pandemic. for going But ever about many on. metric metric what that the But the us obviously, the just we midst a talk to to, trying The to frankly, on quite metric. we there quite Board to revenue. our as it. for want contemplated much looking metrics, you, to a quite get of in simpler metrics get Well, mean, to that, that we metric hard kind we're frankly, that's we've It's

Operator

next with Burnett with Stifel. question Ben Our from your question. proceed Please comes

Unidentified Analyst

on bottles that [indiscernible] can number Ben. is wondering quarter? some if for patient of color you provide guys the rate maybe the the on just I you're this per Hi, during and refill was seeing average

Dr. Ted Love

as know quarter. that every that to that, and we've anything want past. Again, And do to report are add not don't reported to Jeff, obligation not I reported take want have I are think to an those we on in but metrics those you metrics the if

David Johnson

two Yes. prior is prescription to Maybe the that a less and time from patient. or weeks DJ, will add, thing the good process is have fully and comes we cycle this to one I up off get continue to worked times, in shipments times

starts window. said And as Our on script compliance XX% that that therapy, or our we've and prescribed meaning is they bottle still high, rate refill bottle still high, a a is patient it always that conversion a so. that rate once to XX-day take within from generally

see that's and the two adherence other is together, very that. talked that range those compliance look XX%. chronic that always -- every adherence about, We closely that's of we that therapy And on. persistency things up that XX% to is something and at, continue we make piece working Persistency that to

hopefully, helpful. So that's

Operator

Paul Choi question with Goldman with Sachs. your comes next proceed from Please Our question.

Paul Choi

maybe Great we just call. sort transitioning as like as data XXX to And of you to industry as guess, see for to have healthy a go just some sort the what Kim framing on early into the you'd clinician volunteers, Kim, then patients later comment a And here, year? I clinician, could guideposts of -- on after this there?

Dr. Kim Smith Whitley

will see a say we hope XXX seen to good, continue that changes see same comparisons we look to stronger that effect data or Thank are see not profile. support side there for in is you to have that might suggest Oxbryta impact to Oxbryta. XXX hope the really will but what we've even to will for with I and some we that of to that we whether would that better the like that continue think that And question, Paul. I data

that, going this for that's So to the on think I what of end we're year. be focusing

Operator

Suneja Partners. Next question Guggenheim comes Yatin with from

Newman Please John from you Canaccord with comes question John, question. next Our Okay. your are Genuity. proceed there? with

question. proceed Please Partners. Guggenheim with Suneja Yatin from comes question next Our with your

Yatin Suneja

me hear now? you Can

Dr. Ted Love

We can. Yes.

Yatin Suneja

provide or or you in patients have maybe patients like some below X% or might above XX.X% the on have that of penetration you subset Can that. -- achieved be various Perfect. hemoglobin you below patient might color

in understanding broader of about, it if patients given give then that XX,XXX can that any back a is think we you I envision number Oxbryta sort on to share, treating a peak question, patients maybe let's are hydroxyurea? do there? and XX,XXX similar of market some step year. think gets And a commentary hydroxyurea you If our say, about

time with reach can level you what Oxbryta in frame? and So that

Dr. Ted Love

Those are great John. questions,

to level, would cancer very a Is the It has as we've the levels. drug a better. And side a data better high those achievable because, feel effect quickly. at efficacy profile, suggest risk. doesn't around that I getting on frankly, know, so black that Patients Oxbryta And always have warning profile? box is you quite felt say, better safety the

So long COVID, by term, we delayed that's definitely significantly achievable. obviously think, think level bogey long we all been It's the do that getting to but term. is

to penetration people high sense in really the reflect want of it with prescriptions about Quite be In sickle We've speak in I lot we're that their segment, DJ subgroups, hemoglobins. it's got for said, as of various terms above these, But news. of years barrier, every be But treat cell to that's we're which won't a seeing very hemoglobins not already is it's hemoglobin Oxbryta my you of growth all or low is begin the good early in treatment whether disease. XX and old a the individuals know label, frankly, underlying ultimately, for anything DJ, quantitatively do early. to subgroups? your barrier. a still should

David Johnson

audit audit figures we with hemoglobin Yes, our patients XX% baseline we XX% approximately and that's over grams a on do our get database per a where of patients. over deciliter. or chart had claims And X Oxbryta than greater X,XXX that

and physicians less than comfortable were looks are XX% levels. Oxbryta that like different about in using hemoglobin so many So

in database, baseline XX.X that that patients above are have hemoglobin. We

X We XX.X. have that are X we course, patients and XX.X of in between and between patients, and have

with certainly sickle broad think disease. patients of for all we Oxbryta, is indicated So cell we utilization We which great. have a are

physicians about have utilized been on. Oxbryta only Oxbryta The the XX% is only to X,XXX their other have prescribers, patients the that excited XX% that penetration about in practices tried of about we're number of that certainly date, of the patients

our we already So for have a still experience opportunity with of deeper great Oxbryta. that Oxbryta to that's And used treaters existing have to be physicians patients go XX% in. with

can imagine online time. also first the in into -- to ours. as And for looking are coming of to quarter penetrate we you focus So very a more Oxbryta this that's physicians big prescribe

target still We we're developing. have list, but new prescribers a large

Operator

with Please with Morgan question Next proceed Stanley. your comes from Matthew question. Harrison

Matthew Harrison

follows. So of on a I just your -- looking guess which is I have question, as a I'm sort longer-term of for perspective sort

going pandemic some does it with in and patients. So sound sort of we've patients whole have talking -- like but the at aren't about interaction physicians throughout obviously least how been

large guess that? very start or a I be we are of that see vaccinated real into heading a like so And has wondering once of things numbers significant -- my is, to once going to patients the start go question patients a significant wouldn't backlog into growth list, office, office. isn't just the to terms I'm snapback there back keeping building bolus see in you why physicians large why

Dr. Ted Love

sure into to to that we really individuals. expectations a a we reservoir what's are guidance potential of it's be going not No, not do certainly would the thoughtful know the that using more the a not nice you don't looks just that Yes. going to be about end the they Oxbryta question, patients happen just of love set to office that as to back to we happen. aspirational that. Because pandemic. sure while. going that of people continue the after have perspective, and really and We don't the and about represent getting intention they they somewhat of group and this be for driven We're seen, we day, And as patients Matthew, and for may by like. on. that are And is what we're interaction the educate It's want have at to think conservative why to that curve it physicians a deliver right get that's if I having a trying really haven't more prescriptions.

Operator

proceed is Joon with Our question. from next Truist Securities. question your Please So Lee with

Joon So Lee

for the companies for of editing Is of that the addressed. this pursuing that and cell functional the for for a but the implied cell editing similar to additional lot sickle imply if down an a that maybe been total And drug applies must with we And so, cures. And X-or-so drug disease? recent that be trimming questions be deal asked, of even genome specifically cell with patients disease reasonable disease in, interpretation? drug also CTXXXX have the addressable large they genome did Vertex tens opportunity possibly other thousands sickle market expensive be should sickle may

that? perspectives curious are just your I'm So on what

Dr. Ted Love

And a how It's cure what tell be And that red for Yes, perspective, and a the you very Joon. you comment focused their a that's I lot with extremely because that out, from business. Thanks we we're I me their pretty fairly quickly, for looking ascertainable that a red can to model doing. they safe, much to think that's could provide health question. that's is by on patient hard Vertex if going attractive. said pill, evidence frankly, my cell really think blood we quite can earlier, cell function. on really as and the you've figure Kim of blood at cured effectively

winning GBT ablated that the big likely would given the curative we're long quite a things would therapy ablation, right that of vaccination, cancer frankly, and these technology does now, example, attractive, hospitalization, be exists, technology the we So to pill other risk But figure quickly. And think unfortunately, as simple going and given very in procedures, If is for therapy to that. that but after safe think, be based as out gene therapy. could we make the fairly when involved I given be to not exist. think that we very, safe

Operator

question last comes question. our Please Blair. Raju with Prasad with proceed And from William your

Samantha Corwin

on or Raj. you average a overlap on provide of Oxbryta complement color your single or how you Sammy the two prescription if use assets? is the could you was and recently any prescribing? then, molecules number data licensed wondering is a with could guess, prescriber provide I small point other from, for I on And they This if pipeline

Dr. Ted Love

Sammy. Okay.

to and second. then the first I'll the take on one and defer take So the first I'll DJ question,

active So complementary disclose say the we both don't supporting with targets program molecules data would significant many already that are targets our are We I has brought specifics which the with small XXX. targets, are activity. they the against that of and amount that molecule and Sanofi molecules Oxbryta and highly actually would the but of become in

have really more focused on VOCS, One mechanism. crisis. So relationship polymerization. distinct through which pain would work they a direct we inflammation, is the focused more of other is the to a on more And think

but there targets are complementary targets stage, very we they distinct are. but complementary. what publicly delivered two We're really So early exactly though about them, even the haven't DJ? excited are and

David Johnson

Yes.

more getting half you When of in are deciles that that have just riders terms existing rider, and six one sample than for prescriber. prescribed of physicians started the number have XX% it's higher them it's more over per patients than that's growing. than experience patients, low average, Oxbryta. much X.X driven -- about still In for at written It's at and for totality, of by using of prescriptions really about over with to Those patients kind Oxbryta that's patient. decile higher launched patient. more of so than the riders our more look doctors, higher in that. one But On greater being date for decile

support need So they the going response seem like because course, it the to multiple evidence urgent are experience. it's And write these real-world of to of one situations, patients physicians would get they have patients. more as more more and for

Operator

I'd the of At closing the back reached Love to end time, have session. for We question-and-answer Ted comments. call the this over like to

Dr. Ted Love

joining for today. everyone, the you, call Thank

as Let to healthy. Please reemphasizing stay the of supporting advancing of that transform We cell additional hope about me We you if patients close of are very GBT for disease future. us and community forward by safe further adoption sickle have optimistic we all pipeline you questions. out to better. the at Oxbryta, any continue look work to the expanding and our reach the lives

Operator

conference. today's concludes This

lines your disconnect time, your may this you and at for we thank presentation. You

Global Blood Therapeutics (GBT) 6 May 212021 Q1 Earnings call transcript