OYST - Earnings call transcript Q4 2021 | Oyster Point Pharma, Inc.

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Operator

Good evening and welcome to Oyster Point Pharma’s Fourth Quarter 2021 Earnings Conference Call. My name is Valerie and I will be your operator today. [Operator Instructions] At this time, I’d like to turn the call over to Mr. Daniel Lochner, Oyster Point Pharma’s Chief Financial Officer. Please go ahead.

Daniel Lochner

welcome for Point December the and earnings fourth XX, everyone call conference X evening, to Pharma’s Oyster quarter XXXX. Good months ended fourth ended we and highlights. results evening, issued press business containing This a and recent full XX, December our year XXXX financial release quarter

filed market the our addition, today, at on website under were are & release SEC News after www.oysterpointrx.com. Form XX-K, and available In the our the Investors section press which earnings with close of our

today call Executive our on Dr. Point Jeffrey and Chief us Joining Chief and President are Officer Pharma Nau, Oyster of Commercial John Snisarenko, Officer.

Following for prepared remarks, questions. Nau, we line Snisarenko the up Dr. and Mr. will my open

materially Pharma’s operations relating to may making and During performance statements by factors commercializing actual statements results statements future and success TYRVAYA. These regarding potential such forward-looking differ the other and any potential status known and uncertainties or for cause implied potential our achievements risks, Point including future results expressed and our today, from call unknown financial will future that plans of statements. be involve forward-looking to events, or Oyster we results, regarding

of see report Form December I Jeffrey Point President will our Oyster Pharma. for call to factors, a the on over after ended these and with Dr. of XX, Nau, the of annual year the filed market Officer today. For XX-K XXXX Chief SEC description close please the now Executive turn

Jeffrey Nau

provide This you be and particularly first where the Thank results first for and launch of of highlights. In time on discuss fourth results satisfaction and This is are Today, prevalence. received our earnings Spray growing dry reporting Good believe people Point. nasally partial the Dry U.S. business of for launch United learn XXXX signs pharmaceutical Nasal me TYRVAYA October the and that being financial physician the we remains Spray. Nasal eye you, everyone FDA estimated in the encouraging are let eye a eye to of very and Nasal of we an treatment of TYRVAYA, is that pleased dry TYRVAYA treatment patient today we eye are commercial our is more exciting the on us and million But of these introduced approval we the dry seeing eye the TYRVAYA our XX quarter with chronic signs call first, level ahead. Dan. a that market evening, XXXX, delivering is symptoms from high disease States to how dry the The call disease marketplace. the condition Oyster significant in disease. joining now impacts highlights. you business we in therapy, to the thank for is will and delivered, XXXX for about of the given growth in symptoms Spray revenues that of field company’s commercial recent

launch the from XXXX. hearing about we of I’m to that more Spray, happy John shortly partial state Commercial Snisarenko, great Chief the TYRVAYA quarter of You Officer, will our details in performance fourth Nasal commercial be but had

in Nasal $X.X product that XXXX. of happy TYRVAYA report QX revenue Spray are a We had to million net of

million Pharmaceuticals. Xing In agreement with addition, $X.X Ji license we our recognized from

well and to to OC-XX are our the with exclusive develop strong achieve business, TYRVAYA We commercialization drive of our having execution Xing across entering ophthalmic XXXX, commercial laboratory as diseases. an win of one patients in largest clinic publicly ability early license as with Ji OC-XX for in the commercialize we multiple Greater as funding and successful now pursuing of including week, securing agreement areas demonstrated commercial the China, advancements non-dilutive the treatment This and announced with well in R&D additional payers. the as

release increased quarter our This in of resulting Patients of for launch. film covered only increasingly production and a pharmaceutical first-in-class now ocular tear tear until nasal the in TYRVAYA disease. disease TYRVAYA the up eye accomplishment for the to the February nose, XXXX, importantly, of this a by it believe, lubricating, includes cornea. press a dry parasympathetic access early Scripts Express disease. lives current covered in for for Tuesday fantastic other activate a following responsible differentiated advantages. and believed that effective basal pathway XX highly that, dry treatment since eye dry TYRVAYA eye the large first mechanism state is XX. Our Nasal nourishing pharmaceutical innovation the million more on achieving is space potential little is very team we unmet Spray in as experienced full agonist announced are film patients. is has U.S. as to is for spray addition the from cholinergic the eye a gaining in differentiated need that and in products surface-sparing for via Spray Nasal trigeminal TYRVAYA the our protecting is TYRVAYA the from is action therapy market Basal access dry

method of welcome provide For ocular production a those treat administering surface, with a disease. a patients increasing may without compromised topical to burden their tear the medication

pharmaceutical already a treatment first as dry administered eye time, is surface. drop eye ocular option patients irritated an topical not to that the FDA-approved, For have disease an

Therapeutics. therapy the study In in advance platform tear neurotrophic spray development to our vernal or we Phage as pipeline remain cycle additional to continue like launch Adaptive with plans like address TYRVAYA TYRVAYA the to We Phase enriched at severe and Spray excited keratoconjunctivitis. of Although committed gene OLYMPIA and X OC-XX film execute diseases R&D and focused XXXX, as remains therapies about well critical ongoing research team our aimed our X companies of will keratopathy the franchise, Stage multiple keratopathy. neurotrophic we allergic the Nasal on innovative life for are nasal development bringing of continue exciting collaboration projects to

surface in year. Stage a misdiagnosed currently readout of half is this could feel that expecting represent ocular with many disease. or We indication are is second OC-XX spray. the neurotrophic meaningful for nasal disease NK patients a that a We keratopathy in X underdiagnosed

focus Snisarenko, to and The dry symptoms eye disease eye clear. and and transformative discuss aim innovative Oyster ophthalmic Nasal company. treatment call to ongoing to best-in-class be we’re Spray to world I disease. John the Officer, we TYRVAYA would the Point now treatments, Commercial Point’s Chief innovative turn launch that is of signs like our leader. of commercial and an for over believe the of bring needs Oyster vision building into leader can a Our that care that We

John Snisarenko

Thank you, Jeff.

dry who with option disease communicated, a eye previously is those X million as people have people And have marketplace, patient other the million eye over population abandoned Spray diagnosed that exists available large approximately including that we well proportion branded these are patients, United disease the dry newly being eye As alone. a X the Only believe the new in XX with tried therapeutic. patients a options. over the treatment States currently treated a of refractory small We are in Nasal for dry diagnosed. million, as and is segment TYRVAYA large with market diagnosed the disease

X. the incredibly excited TYRVAYA we Jeff of highlighted launch initiated to on previously, Nasal have As are November U.S. Spray

prescriptions XX, over data as the X were achieved market quickly TYRVAYA time, XXXX, that less including itself encouraging eye TYRVAYA pleased to filled, launch, in indicates of In than report in establishing X,XXX have the December quarter periods. written unique option prescribers. metrics the ending holiday dry new are weeks for an approximately These as X,XXX is from that for We been short by this patients. exciting

accelerated TYRVAYA top payer market to part organizations. Regarding access, our commercial payer of adoption of the core is to a strategy promote

XX. addition, team approximately Performance XX lives. Our National have for now With commercial Basic an securing in total market job Express total has of lives million U.S. done XX% access for effective with TYRVAYA Formularies this latest formulary aggregate of coverage of coverage High for great we Preferred, a and a Scripts February

look pleased our launch, patient access TYRVAYA We with that Oyster remains forward are market level in our very XXXX. for coverage offering growing help patients. further provide access early to Point to to so comprehensive incredibly coverage committed appropriate in and of we services this

a launched enabling technology-driven and patients of successfully services journey patient aimed the set at navigate offerings have patient to comprehensive procure We TYRVAYA.

on Our patient support program and And the information to program how this website, enroll, is visit please more for called TEAMTyrvaya. tyrvaya-pro.com.

prescriber targeted ophthalmologists We XX,XXX in market more both our introduce to us commercial have been of field X approximately our achieve was prescriptions sales optometrists than practitioners, of force representing the XX% weeks potential of our to the covering sizing and force, launch, full quite In first to the TYRVAYA TYRVAYA. in of with helping dry XX% of to eye us diligent the and able today, eye the enables which care efforts base. the target

the technology, well utilizing marketing sophisticated as communication and of partners and efforts are analytics, and a well as as On to media delivery digital TYRVAYA side, virtual online detailing, patients. including digital social best-in-class to as enhance latest the we pharmacy leveraging in-person

the latest continue technology-driven and impact marketing will share to TYRVAYA’s maximize media market. of and We to adopt the in approaches voice

education to these efforts turn challenging collective campaigns leveraging am patient Officer, on and experience. Lochner, be nasal now proud team’s I differentiated broad with drive Point’s phase and quarter of during early Financial provider Chief TYRVAYA’s route positive call in of times discuss commercial Oyster of the pandemic. over care continues launch, direct-to-patient focus a and efforts, results. our Our fourth the financial administration with patient eye spray will especially our to back digital targeted our to MOA marketing marketing Dan I so this to

Daniel Lochner

overview John. Pharma’s a financial brief results. Point quarter I now will you, Oyster provide Thank fourth of

results this well was in Additional the filed found annual with XX-K as evening. that quarter can our fourth about our SEC financial detail be our Form as

the of period fourth XXXX, $XX.X reported of net to quarter compared $XX.X the loss Pharma Point XXXX. net million million for loss For of in same a a Oyster

cash the were by U.S. plan, to equivalents the be on this FDA and As the approval commercial company’s for on launch equivalents revenue product of we believe our million December sufficient and revenues quarter as fourth months in XXXX, to to net at our upon Based XX-K cash million, Approximately business the the November were was subsequent XXXX. XX XXXX building following TYRVAYA of current distributors operation half XX, $X.X our of in and from launch $XXX.X attributable December evening. fund planned Nasal company’s cash $XXX.X million of TYRVAYA of of product XXXX, filing XX, XX, compared cash product. will XXXX. October least the channel Net approximately the Spray for available

XXXX. December marketing company $X.X consisted to obsolescence related driven following the the revenue XX, company which primarily of pursuant lower end license of of FDA TYRVAYA and as of The milestone includes December pre-approval as recorded inventory XX, Ji expense. stock-based Pfizer. agreement field costs, our company million an result, same cost company in remaining the of company’s administrative in million an by ended The utilizes decrease transition expense, well connection of, a shares. and million and XXXX, was Nasal ended increase non-cash was manufacturing by Nasal X well The primarily R&D the $X.X not TYRVAYA manufactured XX, commercial Nasal of product the due during October during X during generate Spray expects reserve selling stage of OrbiMed. to approval company In the expense XXXX, U.S. the Spray. anticipation and included related and costs, million The of expense Spray also of recruiting higher XXXX. of any million. company December and submitted due force Application approximately $X.X And launch included $XX.X which with pre-approval X included approval million also Nasal the expense sales company’s of The The expenses related months from compared expenses decreased addition, X months and R&D million reserves company as $X.X FDA receiving ended Xing, inclusive of expensed fully expense to company December during also TYRVAYA. company with company’s well XX, as expense approximately sales in expense months of compared will XXXX. inventory XXXX. in to as ended XX, in ended in the recognized development Spray, inventory increased period $X.X $X.X increased XXXX, interest the X XX, for of The million manufactured compared effort months with, a ended other unit commitment ongoing $XX.X higher the common product fees pre-approval in headcount in expenses for expenses $X.X market X general access, million, Interest clinical period started primarily to year in R&D revenue Drug to support company’s December agreement The the increase revenue the amortization contractual in a The the million accretion to mainly damaged X in of period during a months same with X the $X.X ended goods XXXX, expense senior commercialize to the license consideration that an inventory expense million Xing company. to payroll-related to revenues company cost million, of TYRVAYA to $X.X and to December product million agreement prior XXXX. be XXXX. expenses related same inventory the increase of due $X.X credit ended during million other to The credit legal of approval. of The XX, incurred expensed obsolescence as to is expense to loan FDA FDA receiving XX, connection The connection fee approval consulting, G&A in the to company of the December in R&D accounting, royalty non-cash and the December the did and commercial a was pre-FDA $X.X as million, in in the The expenses incurred other and research commission the of of XXXX. and $XX.X higher months were Cost $X.X expense a months expensing product charged an The higher prior debt-related XXXX. increase XXXX. months FDA the XXXX. the inventory the half The product December both by anticipates $X.X primarily XXXX. the no is company’s by during of approval The interest Ji marketing, as for long-term – inventory ended million and of the onboarding XXXX, third expense the for revenue also million costs. primarily this due was incurred by of second December professional commercial to TYRVAYA payroll incurred XXXX pre-approval until The XX, interest with had company during which related compensation company New incurred to of to $X.X stage third-party including

is to broad ophthalmology ECP anticipate patient continue of XXXX, turn We to in to market total midpoint and year. reach eye will outlook, to plans Now dry our both addressable the with offices, TYRVAYA, and including opportunity experience by three coverage Nasal their the commercial goal determinations the optometry TYRVAYA Spray. large make order for we national as the of our achieve

now TYRVAYA. to we our gaining we patient-assisted the over for commercial to While up eligible turn questions. line I operator to determinations, open coverage provide financials, will back With programs access support to patients of overview the await the in continue to such call that will

Operator

with line question Instructions] comes Thank you. Ken the Cacciatore Cowen. first Our [Operator of from

open. Your line is

Ken Cacciatore

if maybe was revenue few a the to little And around million. million. formally analysts are you and consensus I around think Hey, team. us but know I $XX pacing. there it’s initial consensus, is help want I believe would a the with of involved good clean Looks launch. bit like is I in wondering know us $XX a I really that only

better you’re you of would that how retention of clinician But about early we numbers hands are are be could us of those system, if have been support number, your be in already And bit one Thanks a guess us, or the have and first checks days, very patients returning? my or but refinements to will so needed let have So hold also, just back of I the So that, am well John, as I kind it could learnings sense Could early to to that you two. maybe know then if seems ask obviously, wondering feedback. working bit? be was tweaking though. go retention some with we much. should the could, getting and metrics, you you I a how you I you And I definitively it? going any good Anything talk, able more, change? wondering little if very patient doing to about queue. with a help to thinking seeing

Jeffrey Nau

Great. very Ken, for questions Thanks, thoughtful. the and

So, take maybe we order. could those in is will we just what do

Dan to about and I’ll have just different into the programs patient So year and over and we it retention the a services? experience for to go John’s talk about the turn numbers will the discussion with then bridge

Daniel Lochner

would great we goals count really care and the about monthly are official would Yes, terms great. I on of would a very job. say about and will what out in really sales focus for and it we I basis. while on eye achieve internally very our Hi, weekly haven’t And say we operationally throughout Ken. revenue XXXX field focus practitioner doing on provided a think have we be guidance, revenues, in to that reps say early the that I growing expect

is ECPs on look then sequential and month starting on then on what I rate. basis then to at pattern per that it getting we really an board NRx start observing what on a those monthly the think basis right and resell pull-through on so And with starts

respect it kind think that entire And quarters really we base it the through have of that targets. for going that year would the after great kind how roughly I of speak XX,XXX is which so wrap as building are to up, total we see we John And population through start about that And to what been identified, that working of target target and all sequentially how really least out quarters. we to QX, and be have I and that TRx, playing rate, revenue. and to will we really the that’s through about the XX,XXX. population ECPs of ECPs at for work through X,XXX hit have continue think see, in the build And building you we resell then really will those on NRx

always tie to kind of on up net, that then determinations in perspective how say which the our other gross expecting coverage bridge through on The is commercial to your would are focus XXXX, because for price of that year. component course, And discretely that by on will related PBMs there relation the a patients the positive share transition would over be to I component volume in from which and and half on the to of from discrete focusing guidance to a we impact insurance three to big And a with the year, is throughout bridge to our is question the providing on kind to have first flow while has gross guidance, official volume dynamic, to on which line net to gross first revenues is net. of majority half that on program, gross benefit that not of really would net. midpoint

John Snisarenko

This Dan. is Hi Ken. Yes. John. Thank you,

You rates. retention then rates question and a around refill asked

Even could rates pharmacy, refill metrics hovering look We we retail in online have seeing early been the that November, very seeing prescribed pharmacy at that have digital with early XX%, we around I refill are started very, that and in our you rates. space. XX%. quote been had patients if been with to-date pleased they blended our

pleased that and with getting are patients the refills. So, back we coming very are

feedback, we We and are throughout as getting trend hoping that position as very, to continue very patient nice are XXXX. well

we third part around employ of out as part really is services patient question of gate that technology of think to I around patient well the wanted your your support our lot a of to programs, TYRVAYA.

So, that offices, it navigate prior digital journey as enroll online to in through are through to to program that make means. and them easy for into trying well auth patient investigations other very to get the as QR benefit the we the codes

that, we through high rates getting good of enrollment been that come have because fill and very that So, rates good very, program.

script we are materials tweaking, how we very, more out different So, to But very popped has is TYRVAYA. and been sound able patient with were into the covered, fulfilled the ways surround going. enroll but not If to in with they to patients bridge of get patient that to program program. and our pleased they are insured, the get the automatically into overall, put terms deemed continuing appropriate program experience are with patient that

services keep will very, very monitoring the so program, we So, been but pleased. have patient far, we

Ken Cacciatore

Great. much. so Thanks

Jeffrey Nau

the or One as Ken, patients, of likely to another a modality, current on with If back. product end course offers it what are on they not about device course, as comment transitioning another add go at from we but a patients on, the and they there thing the about perspective, either an coming are will of to they another very will that or and immunomodulator think off, is immunomodulator. marketplace product, going are an are we when I think they outcome happy rarely TYRVAYA

original therapy. of So, come we back see patients very the to a number low

be see but have have It’s than product. coming you do because different rates, patients very interaction with thing we with of refill patient the product TYRVAYA quickly differentiated mechanism to into keep the that action only one it relief, the think to will solid I back will really would I in to and that works the see years. immunomodulator are we an to such interact not mind later has with how people it we those going a look to excited the to so think forward in is future provide a

are I my just excited will I for out – there that. the office. And about throw comment then one at team And would we back so

well services one great it the I best program. have Our is team going patient is, ever none, bar very putting together in so and the of the kudos to a program such field seen. And for

Ken Cacciatore

so Thanks much. Great.

Operator

Thank you.

comes with Piper question next Our Catanzaro Sandler. from Joe

Your open. line is

Joe Catanzaro

and here. Hey on progress guys. the questions so my Thanks congrats much for taking

to maybe things. early you Dan, bunch I some terms guys your on put unique maybe wondering of think And you am a you in prescribers expectations about have the wondering pool do am can am go profile follow-up, and and benchmarks, mentioned the you your just fully So, Jeff, leveraging I to, target I resonating to most? aspect had early just you into maybe what But where it’s well. were you I Thanks. there. I of maybe relative as context product as follow-up penetration have internal if how you of ECP what then And a that? sure help seen aspect the the – number And do see alluded something of

Daniel Lochner

end. Yes. I with my it Maybe will on start

the you As targets that the had XXX are in quarter, sales release, we saw in of going the with which of unique just about is sales after we writers reps. press force XX% under our achieved X,XXX

in think I had about great just the so quarter under we nine progress And weeks.

we more to I had at we we recently, as so benchmarks a come think great therapies where place of look that for in market And expected prior to us are land. have

the spray. with a treating nasal disease, eye way is this of new communicating also the dry really Of course, understood benefits we so that

year. pleased work are we that I XX,XXX where landed think towards And the as to with quite and count throughout target we progress we so continue

Jeffrey Nau

the that resonating. And add maybe I is the there part some – what things the to will on are question of of second

been I product great. this of really is exciting really one things launch think patient the feedback been the of has about that’s

and And been see on great we that product. And into patients really product put own only into and out going do to have to to have teams the stories come it’s patient are because talking on social folks so such team. of drives we the posts just having really, really media excited and you that work product a this hear the the about feedback where hard those marketplace out the it their field, launch it’s to back why not from getting the there

So, encouraging in eyes that’s it’s that feel, They like I it’s of to be the just is and way it’s the really that their we patients is like able things that differentiated the that really the they way hear stating one just think making used. something the profile.

we often put their to And able they field do are are So, the are in a they physicians drop complaining. elderly so into deliver that not just is eye topical nasal sprays. stories back patients able use they hear to and the thing this we they eye, hear the are and other unable the maybe getting calling for back who And of drop. don’t option or dexterity because people another have a is are them not to and

are also really important in And for again, the very But that’s so launch. us. we early

many we patients that for So, the more have on months. product haven’t than a few been

moment, how coming feedback back encouraged negative the excited long-term the is. are the see we or feedback lack patients. by feedback the we So, to are for of really sometimes from But

Joe Catanzaro

after I ECPs. covered just maybe those follow-up, been about a you of a script? And speak maybe soon you XX% a sample? quick think I sampling squeeze percent how Can Great. if guys in to of seeing Thanks. write you what And have have are you ECPs your given said target maybe

John Snisarenko

with is patients prescriber the and the TYRVAYA technicians, they the the involved Yes. experience strategy the the really and so the on Great taken the with prior patient practice gets to the with of actually staff can base, sampling No, Part thank training, that because make into we our appropriately introduce is want Joe. sure office best are question. to possible nasal product spray. that to you,

But a installation is want launch. So, taken quite we hand probably and place out we to have that samples, them since sure office that initiated. XXX,XXX out that appropriately we sampling actually samples make handed before that few over with has

see getting sample, prescription higher for it So, and them have before worked well are if seen patients they because of getting we hub us a that’s our patient a filled. so tried actually into that proportion for far works that

been kind that approach. very, has that connection So, of positive with very

Joe Catanzaro

Thanks taking Okay. again helpful. my That’s for questions.

Operator

you. Thank

comes Capital. Dolezal question LifeSci next from with Patrick Our

line Your open. is

Patrick Dolezal

for Thanks then onboard taking expect other has Hi. to any Express with I negotiations all. as with approval of Scripts that well. there if just the modifications question. impacted as have curious as if am follow-up going discussions you And cyclosporine I availability curious forward payers. Were light? how am came you just generic impacts at any payers, a to the I

John Snisarenko

for your thanks question. Patrick, Yes.

seen kind community formularies from And with ESI, covering the of they on how actually generic artificial a of going with cyclosporine. with listing have early are with tear. TYRVAYA to We early only across the reactions are manage the their traditional entry payer they mixed

So, that’s mean by I mix. what

the the of dry will evolve at until are quicker. one closely. more than or eye they kind a a really others to little they and eye dry the generic Some space comes waiting out, of payers as going are managing take are not look And space

to are able modify our we approach. So,

goal is going with playing And field help along major with a on our for a our our for strategic branded generic And that’s way the contracting us get TYRVAYA ready on or with. with are to the there. will differentiation get the the be market to therapeutics. We not PBMs. access negotiations our And are level

Jeffrey Nau

comment, other one Patrick. And

these doesn’t off lack drugs, effects where side patients dynamic you or whether it know, the exists of entry change of would many the into for generic whatnot. or effect be that As marketplace cycle well

not certainly change. so And that will

coming. So, planning we were generic on entry

mind, team been for have we long in think been of always the time, planning our is the and back it’s but a so ready. I

Patrick Dolezal

is these ton to but in have there not a as eye do space really, launch dry That’s helpful. surrogates, eye And just Thanks. drug drops. obviously, it we the relates

similarities hear you might be any if to feel am the love that curious eye a would will it’s that hear I there curious if dry worth adoption out. that of and where really adoption, drive to a thoughts tipping your I helpful. amount more. point bit is there. Thanks. coverage generally, if driving you Just XX% pointing drug of in and role And differences the space coverage the comment be would just on could

John Snisarenko

in Well, had XXX-plus to was very the Patrick, early They with back commercial in reps. Yes. launch, quick to they uptake. this and Xiidra very the did regards insurers, XXXX. access we launched see

very reps TYRVAYA. pleased number are the with of trajectory are and have the We we seeing with we

regards payer fact, track an ESI negotiations. early for us. listing in to in We was the are And listing on the

it that of So, I care you, professionals in entry eye just after as pleased trajectory you back they very are our versus we as were expecting two versus more the second time managed, a be launches, launch. point get saw and less at going tell the kind are out TYRVAYA. recent is will to the quickly of the entries. in prescribing gate won’t the was with of Xiidra we broad We that with the of base we But writers, how also could latest different space XXXX, Restasis. terms

Patrick Dolezal

Definitely makes sense. Thanks for taking questions. the

Operator

Thank you.

Neyor question comes with Chris JPMorgan. from next Our

Your line open. is

Chris Neyor

Great. the questions. taking Thanks for

Express the bit So, first Scripts details one is more is contract. to get wanted a me just on on me for –

within are kind there mix patients add patients? we for XX really a access? most preferred estimated. that coverage there that. lives and talking about these co-pay within thinking towards mix mix what move I plan, more of of or follow-ups between that type customers, patients And thinking And when So, should I of be either after what’s couple patients is just potential the about and that – the of – additional non-preferred think additional for have Express would of the Scripts preferred about – pickup of for you had contracting million additional those

John Snisarenko

preferred branded Chris. Yes, you have and to you to failed an have preferred for on whether all In artificial is or regards tear key of No, access non-preferred, listed the whether of non-preferred, ESI, tried in products are terms or the criteria thanks. here.

product patients, definitely So, very mentioned between the Tier And that the with Tier out question, out-of-pocket the pretty X. of as in be you there. last and competitive part the branded difference leading patients, a we a X commercial out-of-pocket is down your buy appropriate to

covers feel on the plans out that ESI. playing downstream the larger are well we our that as there. covered through field work Ascent million XX that – leaders those majority will with that on signing So, within ESI, but ESI some with are to plans – the level of continue regard we a of to And covers sorry, lives the are and

very going the We to leaders So, the be are a feel brand tiering not for we there. with us major competitive is out two disadvantage.

Chris Neyor

also the that And rates KPIs And Caremark be we then hit commercial Great. trends, the script and and CVS helpful. and coming then the from That’s for watching quarters? touched any the weeks for of on able UnitedHealth you discuss your other in overall coverage launch this refill aside confidence that should kind by could just maybe year. you in maybe of to middle being

John Snisarenko

prescriber XX%, We services to been the based the the In we as we profile No, of regards have with Yes. of pleased are clinical of PBMs, feel been to supported In with rates, the the on middle Chris. the as are well offer other seeing. them. negotiations some well kind we patients the that experience refills that product make TYRVAYA. base through the of as very the XX% rate regards sure refill we with as both to have in

are to going managing or track whether space are have not. on they we determinations still midyear. coverage the to ready are generic be by negotiate We to And

we get majority the feel very to covered are We we get ‘XX. to are going competitive be listed to commercial be those TYRVAYA very, of of midyear – lives able by and

Chris Neyor

questions. Prefect. Appreciate the

Operator

would for to no further Nau I back this closing to time. over Thank Dr. am conference I at like you. any And questions the showing hand currently comments.

Jeffrey Nau

to thanks for the operator, and joining with Thank us everyone you, call today.

its U.S. signs quarter nasal As providers patients in disease, announce of to the in we pleased in I opening symptoms TYRVAYA eye care the indicated for of dry the is spray, that and full treatment for are launch first of eye currently mentioned and my remarks, extremely

extremely are ahead. of We excited remains for the growth potential that significant

and remains and closing, goal vision everybody to treatments Our patients thank Oyster want a and I a In ophthalmic care Pharma for bringing company. to to into eye great and building evening. a transformative disease primary our as on company Point tonight have focus best-in-class innovative joining us

Operator

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

You now wonderful disconnect. day. Everyone, may a have

Oyster Point Pharma (OYST) 27 Feb 222021 Q4 Earnings call transcript