EYEN - Earnings call transcript Q4 2023

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Operator

Greetings, and welcome to the Eyenovia Fourth Quarter and Full Year 2023 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Eric Ribner of Investor Relations. Thank you.

You may begin.

Eric Ribner

to Call Quarter and welcome XXXX Full and Conference Earnings Audio afternoon, Eyenovia's and Fourth Year Good Webcast. Officer, Gandolfo; With Executive me Chief John Officer, Chief Operating and Michael Rowe; today Chief Financial are Bren Kern. Eyenovia's Officer, afternoon, results the financial December XXXX. X release ended for months issued press XX This we XX, announcing a and December quarterly Form XX-K SEC. for encourage read press today's with on We which release as filed year report ended XX, everyone to well XXXX, was as Eyenovia's the the report annual at and also available release website press company's are on our www.eyenovia.com. The

In company's addition, archived future this to conference call is website there being webcast reference. the be and will for

that could note statements. detail with concepts information the call the described is call, call, and Eyenovia's statements report We of Please to associated yet number Securities discussed we covered product of today safe that harbor Act. Reform under some Private discussing caution note which risks the uncertainties management the have products, These listeners results approval. today's these provisions and by Form or during more annual due are will from forward-looking certain risks, a to forward-looking on company's in candidates, be Actual Litigation stated implied FDA which of to on will that receive in the those statements be also differ our subject are forward-looking making on business. materially XX-K. Please

as events required any after obligation only statements securities is be date or of or reflect XX, revise this that This date information call, this Eyenovia broadcast, conference the accurate as applicable XXXX. to conference contains circumstances forward-looking except of no call time-sensitive may update to by law. March live the undertakes of

to is to turn said, Michael floor Executive Chief I'd over that Officer. yours. With Michael, the Rowe, call the Eyenovia's like

Michael Rowe

capital. as on conference X Last welcome, how to and And organization. development pull [ our XXXX into Those Today, growth I has particularly of executing Eyenovia to you to levers X against products continue in year strategy, of we Phase III. how eye. and levers call. a reaching in update are our the of and have talked we approved levers, X which were now with build-out are quarter, Eric. X integrated options will a commercial advancing X will financial full third with an ] share lever, will continues of quarter commercial the everyone, breakeven sources significant which Mydcombi. the news complement our into I revenues, fourth as accelerate capabilities, and and for us results about Thanks, own efforts agreements been will point terms I and fully commercial the then John our for plans producing company. provide exploring towards sales also share Bren agreements our manufacturing through our us entering that we financials our well dry as update take supply And will about provide an on finally, on ultimately these

suspension right dive clobetasol FDA-approved Mydcombi. products, So it let's X and into propionate our ophthalmic X.XX% with

for rights Taiwan-based acquired commercial clobetasol August. As Formosa U.S. you may were Pharmaceuticals recall, last the from

and proprietary the compartments particle purity, ingredient's That for This X. and Formosa's transferred relevant product on ago is the unique weeks post-ocular over to ultimately with steroid bioavailability. was in we first allowing clobetasol just NDA X active platform. size using Clobetasol nanoparticle week, pharmaceutical to last APNT Just Eyenovia. an reduces the March from eye penetration surgery technology formulation enhancing thereby approved Formosa developed uniformity high

XX pain is efficacy surgery. in absence complete patients of postsurgical with ocular achieving safety XX potent inflammation a and pain is of ocular days out This the XX achieving profile X highly that is surgery. absence steroid available ophthalmology. of out molecule post inflammation for this Clobetasol following time nearly indicated first of total desirable and within Its X is and

an has without dosing surgery up which existing titration day. patients versus drugs to recovery. day on require a X as particularly multiple during are treatments, of profile This often dosing Clobetasol eye is twice important advantageous times a

which by treatment the regimen alike. So any would simplifies eye advancement and doctors welcomed be patients

And in side have of effects no we're of effects seeing of X% terms in the of the patients. some these itself. label mentions side result procedure more And our surgical safety, could than that been

information can clobetasolbid.com. prescribing full and additional find at You information

U.S. $X.X the million ocular ocular billion we It mid-single-digit market topical next year, is treated there and over X can combinations very we are which is years. share X currently and sales. This significant more estimated totaling opportunity in the to of capture market a most each surgeries X that with think than in steroids are steroid one a

We launch surgical commercial view robust which a clobetasol soon And export working with our bring commercial existing are Taiwanese Mydcombi, and our this later has as centers. key their significant our leverage toward allow value to to year. offices clobetasol mydriasis product addition we us portfolio, sales will as to we eye our Together of force. received partner that can believe license as we care a further product,

a FDA we in term, that to worth over opportunity To months potential market billion. estimated that coming plan to for the a our potential a in to for of we treatment as the develop dry with see a path a Longer $X.X discuss to engage dispenser indication. formulation Optejet clobetasol end, eye, be forward

half. revenue us, Mydcombi is half While story. of product for it clobetasol a the only is other is great our

Optejet force our how As Mydcombi as and first using fixed FDA-approved tropicamide with end you surgery the our talks using products by agent highlight drugs, clobetasol as mydriatic surgery steroid know, X-pupil the and post of spray sales pre the only customers, first the phenylephrine, When dilation book can help they their surgery. their and Mydcombi combination platform. is ophthalmic and

continue state now targeted requirements licensed weeks. required, sale make and have trained the the licensing than of we to states, population. come with deployed representing field the progress in We force in Mydcombi XX-person Also, with satisfying to for remainder our half board where sales of now XX hired, excellent more set on coming half commercial U.S.

process. in applications license other dozen a have We

were manufacturing, very In contract pleased International, the of was we Coastline approved in announce that by manufacturing. commercial manufacturer, terms Mydcombi our FDA for to November,

recently leading detailed on commercial facility. announced of and locally Bren commercial approximately of Redwood Mydcombi optometry of more into and Vision approval also X,XXX now a With our of that has added a moment. Customer its very City, have Mydcombi, pleased owned a has we manufacturing to of now product FDA as manufacturing point, product are the network offices, and a warehouse. Reno, an excellent. Coastline will finished approved we Redwood announce And commenced manufacture in We facility Mydcombi our provide City out online, as moving have all that supply been further to illustrate membership. update for feedback we Source,

to We for have and exam benefits those are great choose has expectations particular that for the channel Mydcombi enhance as offices their eye the patient-focused sales comprehensive to incorporate Mydcombi patients. of experience

our say, years, to feel these Mydcombi well to for for like device. care we U.S. doctors the share good and coming they especially their and market $XXX valued that current we poised market because are use to portion take next-generation of pupil million, a we patients. The offices we at is move As when over approximately dilation

Dr. drug-sensitive topic was to could of microliters of School a were achieve moment, Mydcombi, by The with XX conducted for eye. York was be dose the which of a the X New of the study Pensyl lower for subjects per there Mydcombi on effective of if a Denise completed dose dilation pupil patients. study we State determine treated Optometry. that half recently University Staying is to

drops relevant pupil is dilation site and than to mild similar with and clinically of In minutes with millimeters was seen installation reported that increased X mild dose of pupil less a subjects reversal pain with time dry minutes. exposed adverse of installation. The tolerated hours that eye the and drug. eye all study a was studies published to X between well approximately Almost and mydriasis XX patients returned X/X X.X achieved patients X minimal size reporting hours by upon This events in post in post-dose, to installation. tropicamide at X XX percentage patients,

present million and million by XXX dosing patients, Given exams a an agent, Optejet could the the address safety X of in to plan mydriasis a few that enabled the We results cataract year. among phenylephrine, greater comprehensive each may and older U.S. and need peer-reviewed risks over standard Mydcombi flexibility diabetic publish this unmet in care eye the year. surgeries approximately later performed full in journal a

our soon XX of working in sales will the already benefits X the representatives every field the have sales products team As clobetasol. mentioned, pull Half lever. Mydcombi commercialize place, and present revenue and of trained and is we to and directors to this day previously in

doctors agreement, professionals agreement hundreds conduct products. with co-promotion the anti-infective They a are clobetasol will NovaBay sales & Per promote this developer to through doctors, Lid promote outreach salespeople that offerings. of our field of our Additionally, terms force on a Avenova we include Lash Meanwhile, in in announced will prescription care product eye will of also salespeople. our recently its calling telephone-based suite that eye salespeople not and pre NovaBay, eye to their currently those areas leading of covering. our postsurgical are geographic not to who Antimicrobial that their Solution can

an a this both the party the will sales they sides, additional believe we of beneficial benefit of This parties. agreement very each promotion be to and is and that sales commercial our cost-effective will extremely way boost sales addition to potential generate. In for get both also percentage reach, to

are new promoting be summary, we'll Vision In with our actively leveraging Source. Mydcombi, we and agreement

U.S. our the And from are MicroPine Clobetasol to pipeline leverage and reacquiring reloading rights and development commercial the We January our back new + past Canada are NovaBay. by Lomb. for commercialize this preparing agreement will Bausch bringing with we and through

If XX%, to options. loss progressive investigational for MicroPine a for of estimate progressive that much can and evaluated is treatment myopia need potential myopia there million significant that atropine by blindness. potential which and X million myopia X-microliter safe treatment of of are as characterized elongation more progression to spray children worsening vision by FDA-approved the significant for is ultimately suffer progressive believed pediatric have can the effective be myopia, high demonstrated sclera an and is risk these, We myopia. Prior ophthalmic untreated, as retina. at unmet and Optejet. lead by from atropine studies pharmaceutical left is XX in nearsightness, the delivered a and or U.S. as than MicroPine being slow

study, next development continuing CHAPERONE Phase meet be could a of advance to year. CHAPERONE looking FDA on terms expedite explore One manner. for to are this the that steps, is to registration at successful, that in to planned or and In partner. are very of MicroPine III we working interim and potentially a we capital-efficient options substantially plan us either could data option commercialization we the a analysis attractive be If interim for alone at is later derisked a look the we program with

or in portfolio, but can we signs Lastly, this Right back opinion show use we capital maintaining change. very the the in is presbyopia better make market our our MicroLine portfolio product now, should are elsewhere situation should that our of our quickly candidate of to Apersure improvement. we turn can if

possibly us this So sight and revenue-generating X commercial products. gives of line to X

of We success. forward, when of agreement continue are more reach lever sharing completed. a has These our other therapeutics for moving device and towards been all novel anticipate dry explore the development indications they eye, the stage full as levering work we market partnerships after of information part compatibility large development Optejet of glaucoma potential the and to second

At the call Kern, update. turn over I'd to manufacturing our like Bren Bren? Operating Chief to our Officer, point, this for

Bren Kern

Michael. Thank you,

to manufacturing early sterility. our continue strategy control During year, through products we the our levels this processes, of to maintain meet reliability and execute high fourth and ensuring quarter of our on

our As to at contract with our base then which use married cartridges with a City Nevada us we facility. reminder, are are substance, fill facility. supply which Redwood units, Reno, electronic These to then we manufactured at our use manufacturers drug cartridges our

commercial fully development as demand supporting needs Mydcombi current MicroPine as XXXX. for now our ongoing well in We the of anticipated capable are

our to approval were Mydcombi facilities on raised part concerns assembly, very City perform we approval no provide and final of complements significant receive month, City with pleased More facility with Redwood in will to and packaging manufacturers. of specifically, support agency. the labeling last our ability FDA contract and Redwood the activities Reno This of the

be device, our International also X is now of its commercial and Coastline FDA announced, which significantly the Redwood than making previously approval manufacturing Mydcombi our will As has also existing producing supply. and reliable. site device, received easier fewer manufacturing City more parts Gen

before X, Gen the the a batches and stability our studies is and product end as available actually of be product Mydcombi year. will begin We targeting registration are that first Redwood in to the City making engineering facility

the Gen assuming the into subject the to for the strategy agreement, X introduce should FDA this Gen between a the market. meeting moving summer, and comparability to platform Eyenovia of Our to be from for will X demonstrating provide X commercial come devices the an an we Gen X path

Our Reno fulfillment capabilities refining of is of equipment. the and product also manufacturing and production clinical will facility new significant by producing ejector this Mydcombi and complete, injector facility our commercial base Optejet expand of both our capabilities enabling capacity, to support increase in When the continues state-of-the-art in provide needs.

myopia as retina. potential progressive spray by to is of the this reacquired delivered the earlier MicroPine. characterized Optejet X-microliter being a ophthalmic proprietary evaluated year, atropine Eyenovia has Eyenovia's for of rights treatment investigational noted As pediatric by MicroPine elongation an device

uplifting management MicroPine We mid-April the are the this accelerate to with be we of in MicroPine expect will in discuss our be management, which to our speaking With year. completion study. capabilities of complete actively opportunities regard, clinical the to FDA Eyenovia this under

to be sites making. on are preparing we FDA-approved expanding market made our now we us We these our to X forward this meet be looking to that year. for achievements in manufacturing and the excited manage, significant to continue recent demands I I'm the products. progress successes about have

Chief I financial over to to now Gandolfo, turn would Officer, to the John? a call John like our update. provide Financial

John Gandolfo

Thank you, Bren.

share cost of of Bausch. average net approximately of million $X.XX million million includes to for quarter approximately Eyenovia from the to approximately per weighted to loss a and net $X.XX shares For the weighted XXXX, for XX.X XXXX. $X $X.X bringing a XX.X or average and the fourth onetime MicroPine share This shares reported back per related loss This fourth compares or outstanding. outstanding repatriation quarter we loss million of $X.XX

average year million weighted of compares approximately XX shares $XX This and million XXXX, year reported to per a $XX.X million for and XXXX. net shares we the XX.X For million the share or loss weighted full share per approximately approximately $X.XX $X.XX or average full outstanding. outstanding

for an of development for fourth $X.X totaled and the of million $X.X approximately XX.X%. million the compares and to XXXX, quarter expenses this XXXX, Research increase fourth quarter of

year $XX.X The For driven to clinical and and full clinical primarily as compares well development expenses nonclinical supply the for as deferral the million, related license future decreased partners. direct year lower XXXX, X% full this million year costs approximately to was to of $XX full expenses to research and XXXX. the our decrease of by delivery

For administrative were fourth to the the XXXX, and fourth as quarter increase XXXX, of of $X.X of quarter an expenses million $X.X million X.X%. approximately for general compared

decrease legal XXXX. compared on expenses by as For year basis. year costs full recruitment the X.X% $XX.X reduction G&A The full to approximately XXXX, million a and $XX.X million executive decreased the full year to was year-over-year for in driven a expenses

to of same decreased the period $X.X operating Total the $XX.X compared XXXX. as million an represents operating compared increase year as This Total approximately were for $XX.X for for expenses fourth XX%. million million XXXX in of XXXX full full X.X%, the year XXXX. $X.X quarter approximately million expenses approximately for to the

XX, of approximately XXXX. cash $XX.X as as compared XXXX, XX, As company's was December to of million December $XX.X balance million

going strategy We our increase structures order are in to various and evaluating alternatives forward. our corporate resources cash to currently fund reviewing --

all I'll X agreement Korea. existing China now provide Vision licensing of South an in update and with on Arctic our products for our

MicroPine over Bausch ongoing mentioned the Regarding rights and and Phase execution prior continued III have we CHAPERONE the earlier, our commercial Lomb, as trial. with partnership + taken reacquired development Michael to of

milestones. pediatric MicroPine to covers Mydcombi sales us MicroPine, be significant our royalties for Vision a is potentially Arctic term. provides addition approved, and nondilutive long China in particular source If development the MicroLine in company meaningful of in opportunity myopia. with over agreement for MicroPine and Our funding a could

million eligible and is Vision generated our commercialization, additional earn X approved sales fees, are X license potential to million date, Eyenovia our have the have development significant agreements net also milestones to Arctic To to over as license royalties $XX on the license $XX we next from approximately well. If earn years. products in and in

expansion the our ophthalmic continue additional to to dry with and potential opportunities continuing to beginning unmet large will agreement, pipeline Optejet are needs We and Formosa leverage to technology similar indications eye. assess address we

and Lomb. myopia, Canada with Bausch blockbuster rights opportunity for performance progressive we today, is conclusion, to our and are MicroPine + in III U.S. the of as Phase our from in very reacquired period. pleased pediatric XXXX potential in subsequent and the potential company. commercialization In the To a as fourth for a development MicroPine the summarize treatment the highlights we quarter well key

FDA our with facility production online inflammation clobetasol for the finalized with as important remains We announced and for for promising our to the is Vision royalties clobetasol following in now We announced efforts, and And avenue commercialization. for well well sales addition one the agreement regulatory as Mydcombi and facility progressing Source to and Reno. sales NovaBay licensing one to is X Redwood ocular Vision City milestones Arctic of agreements our a with complement and of potential development finally, approval significant own capabilities with our pain manufacturing treatment We in Mydcombi support of for our and manufacturing, and co-sign Avenova. build-out surgery.

questions. prepared now our to We remarks. concludes That Operator? the turn call would like over for

Operator

the Lugo [Operator line first Blair. Instructions] Tim with question Our William from of comes

Tim Lugo

this the of rights, back I mentioned and you can into the you'll with the in the talk program? that you you company about engage know Now the about remarks, development accelerating this been prepared the MicroPine has have brought possibility. agency the

do hear of some you the development. acceleration initial thoughts for to could love this I'd So maybe what around

Michael Rowe

the question. Yes. Tim, for thank you

NDA analysis believe later a that about as this the to FDA and from power to we when interim if successful do put do study. we as really that arms in study, to we'll show and would of significant have arm be detect we we this if year result have able of is this could may amendment and we that because a placebo faster. we significant study make intent sufficient bring an are number argument one it the protocol shave Our that an a talking continue And well that it be to it's of not we already And that placebo-controlled if a much as off the can a a with us years to to event. to is enable ethical

So analysis do we can end and study an is to move to to NDA. to about FDA the if earlier that strategy so this the talk year, the successful, we interim close towards that that of can the is how

Tim Lugo

very dose get That's the adjust onto submit helpful. regarding need something half can this Optejet that sNDA an And do is to Or that to the you study, to? label?

Michael Rowe

That get that specific a for submit a to question have would was to study medical label, Well, FDA. to population. we done the onto the answer very to specific

to to see So need. that Optejet could are with lower get did that we to able because particular if this answer want to adjust the for go you we

Tim Lugo

NovaBay bringing Fair kind of could you but And just they're missed -- can out it, this for co-promotion, to I comments the what enough. again margin capabilities Okay. of clobetasol? in the and scope you the and maybe have you

Michael Rowe

that's in-house bringing Avenova. now sales product, very experienced telephone doing their into cataract surgeons. sales for They force do are They it an

in for do have experience we that where those take same would do they clobetasol not the So and areas salespeople.

where And are get likewise, of cataract their they're it time those And have practices. portion So successful, will of of their hand because And get a that. offices. into many Avenova that of will is product salespeople where our sale. they can carry surgeons we reach do into we we part successful, extend every a we they percentage essentially,

additional our time. same way So up to reach cost money no and at some promotional the basically, it's pick a with opportunity to extend the

Operator

Our next line the question comes of Kaplan Matt from Ladenburg with Thalmann.

Matthew Kaplan

the on progress. Congrats

guess, launch the on focus Mydcombi for next Can specifically? and of you I going and both programs. help first and this clobetasol us to into wanted trajectories should potential Just your commercial kind what expect, year we understand

Michael Rowe

there to haven't that given to Matt, the this. John, reaction analysts I out you it's that we to what to been can our believe there maybe your call. analysts. know guidance, have spoken I have has talk good have been but

John Gandolfo

Yes.

point, the analysts reevaluate out not are comfortable have balance are that the we're in XXXX. the of ourselves. have So products revenue We'll after with there, the a numbers there. comfortable to end guidance we're year model that out estimates analyst we're market very we're their analyst -- been for of overall, give that But these in while. the think out there at At the the I going do estimates with for and this

Matthew Kaplan

to Okay. agreement just signed with That's helpful. with newly And Source. focus in bit maybe a on little Vision your

collaborations associated mentioned continue that X,XXX as deals that there You you Mydcombi expect Should launch kind forward clobetasol? as of offices or out these to are such are going more and with we that. or additional

Michael Rowe

absolutely. Yes,

is So have and mix. first this one do they that a are phase, are in others that's the We signed. the signature

to Some the Source, What large replace they model And and mydriatic of use looking with where it like every the they they to do them. once away. they Vision time disposable to it's of Others patient. a is do are they costly $XX agents. It's use this now like are for it's their institutions throw retail where them optometrists. are

And we to we some on they're Mydcombi. get of would with now that formulary replace replacing their would what essentially where now. are right working agreements they doing So be signed these

Matthew Kaplan

pipeline, how Great. the it it we expect and And to more to marketplace? differs bit and device. little should Mydcombi gen second-generation that you used with in a just Can be your first about shifting the then your us tell from potentially when

Michael Rowe

high-level you would give about discussion a Yes. like to Gen X? Bren,

Bren Kern

Absolutely.

up. Mydcombi, FDA completed our the registration And be year. more our year the hopefully easily put with we'll We're on the we from capability, registration then us to to a we're that actively going speaking Mydcombi get So platform with product take X actually getting into with the into. X platform first to after batches these being simplification Gen early that reliability, on a this be working high manufacturing batches enabling Gen offers produce next

Matthew Kaplan

move your dry program, then to we expect year? Okay. bit when into Great. to with clinic little more And you and tell us a that that this you the do eye can about respect --

Michael Rowe

We have that on. things X actually Yes. working we're

We with clobetasol. discussions in dry acute Formosa eye have that for we're

working that have taking have collaborating that We chronic we're we're them -- eye making actually And third the their a entirely putting would on into then we're Optejet and dry one be drug also we're chronic, different a molecule a with in actively where sure company, compatible. we it's that and working on.

So what we the have how agreements drug is want get device. place. fashion issues agreement in we collaboration working we all it's make in we of and to facility our do to in a our that compatible sure do we're do sterile is out happening CMC collaboration your what's with over And of how

that anywhere that's X that takes talk of about for X development months. publicly. option that's leads to it a between done, when and All an When agreement, and we'll

Operator

with of comes line from Wainwright. H.C. next Caufield Matthew question the Our

Matthew Caufield

ultimately Optejet in plans are clobetasol pain? development dry the for for approved utilizing there Optejet post-operative to comparable eye, with within So any advantages indication

Michael Rowe

which only a than and different study, form opthalmic the opthalmic we to is you, delivers for than look and question. we Optejet one that pain a eye is do again. although and The spray run according inflammation, It of Optejet a yes. an certainly would in an go cataract is lot postsurgical patients pain and be for use solution. because would my that could basically at What opinion easier FDA, answer Thank Matthew, them, have dropper, to the back an other to the

So study. it Phase requires III a

is the Why good it that's eye Optejet that makes a it impossible with drop. replace to thing an

that's molecule, you So form. eye a it replace Optejet, it the drop simply something in from view, and a generic take an point into can't of with put

a little something that's on causes But good to approved. So other a us hand, it more thing. time the bit get

onto strategy add a then to pivot the be this Optejet make study the one inflammation is which and eye, indication can get Optejet decision ultimately and to let's indication we bigger the the product. just back then was for a much on additional pain that redo for the dry platform. and So And

Matthew Caufield

the sense helpful. know and year-end cash just any near current of Very this, the for term? don't missed 'XX, runway through give did but then with in Understood. And million I $XX.X if I you the equivalents cash

Michael Rowe

you to take John, would like that?

John Gandolfo

that. I'll Yes, take

I to we we're The mentioned remarks, $X.X have, actually all opportunities as on been per fund operating about change prepared burn the and forward. cash million quarter going order has we'll expect historical all. don't to the raise evaluating company's So in $X at that basis. to different that in an million strategy We

We increase R&D will see some expenses, decrease some study. the associated MicroPine with in

that's think the for come in basically we will the operating burn So where year.

to We Arctic product $X are from forward. expecting well close million as Vision milestone for going a development

So somewhat where of a we standpoint. sense a from of that gives cash you us see

Matthew Caufield

on company. helpful. and congrats the Very a Great. transition it, Appreciate to guys, commercialized

Operator

Our next with question comes from the line of Kemp Dolliver Brookline Capital Markets.

Brian Kemp Dolliver

I have questions. X

again? program needs what to that to you First, advancing to for start Apersure, with regard change

Michael Rowe

Thank have question. on you and good call a the you. to It's good

pretty market is million, year. million now, Vuity And $XX $XX selling is right maybe per So not about that even that stable. high, or

my a opinion, is in basically do to So market effort this of a in to going strong successful promotional be this. relaunch to require,

if it, $X look do million $X it, I do the registration to to million the we if batches. It's NDA. it's at So file

that's million, right without less making the doing market try market. pricy And So the and investment, million. that's that's that's than now $XX to $X in lift pretty a

sidelines, So to the approved that's that's eye There's drop there an is on another product waiting Phase III. one in. one in already come

we in but the I would market, competitors Optejet. eye there multiple only the be in end, may think drop be the

and in coming doctors to them for better comfortable we and and after better in market, in of they heavy patients X entirely we that and are able do well, product, what perceive with this as or X the as with they're lifting. if come the So else resurrect coming do letting for better the someone

wait at this know money and time. any So our and take happy to pivot that then use we'll be we it to and can elsewhere

Brian Kemp Dolliver

this Is out partner you possibly? something would

Michael Rowe

and We we interest tremendous would, talking the moment, amount with certainly of could be at in think, there's people. don't the I market. a But

side the of to big think I lot there's what again, So players see as -- happens the by waiting well. a are

Brian Kemp Dolliver

on process. second question with guidance, share with clobetasol thought market take other the -- to And side your and just Great. the of is

So you the factor advantage? have that a with What's the product uptake with or that the -- given update given dosing. gating superior

Michael Rowe

So if XX% you the of basically look are actually then And products generics. units or small very you a are XX% make at sold the have up a have of glaucoma they XX% about value. you market it's up make the that branded surrogate, that group of as similar, but the units, XX% of because

very that's $XX that be there similar would million out years. year brand maybe in it that's I So a other think the been in There's X one does steroid market. there about

So coming be we into would that.

suspect have the the this people why not to our generic generic up so is will from would product we I better a than issue at be what want years when with off we're if happy but a customers, strategy by back economics against is do we going become the an be same pricing. over call happens talking we and using takes basically And And see the way what here now very next then after value come say always the And option. we're who us. much with to X are X product, higher that pricing year number as going or thought. that doing So I to do we of it co-pay this go to the

Brian Kemp Dolliver

Do you progress have have started you any yet? speaking report to And with payers?

Michael Rowe

e-pharmacy well of ophthalmic because as cash. We're as getting of the right XX% the wholesale steroid the with sell surgeons We're working office. their out licenses doing about entire an thing,

is again, e-pharmacy, they'll is this, a co-pay. the offices. entire the they're with. doing we're the be an familiar branded we'll one, way And thing the be as supplying physician individual a very And same so as cash, for patients, wholesaler, And using

So both are none that physicians. callbacks. There's There's the and there's no for things no the of issues. insurance timely costly

Operator

Thank you.

reached have of back question-and-answer We comments. for with Rowe I like the to Michael turn our would floor over end to the And closing that, session.

Michael Rowe

you today's for and Thank all joining you, today. thank And us call. that concludes of

we positioned with long-term our are strategy plan commercial pleased very are well and progress and our We momentum very to our to continues current continue to as emerge. date,

for you to and forward spring. update we thank first again talking for in our quarter with So the us, you look again joining

Operator

This concludes today's teleconference.

your for You may your participation. you lines Thank time. this disconnect at

Eyenovia (EYEN) 18 Mar 242023 Q4 Earnings call transcript