OYST - Earnings call transcript Q2 2022 | Oyster Point Pharma, Inc.

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Operator

Good day, and thank you for standing by. Welcome to the Oyster Point Pharma Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker for today, Arty Ahmed, Vice President, Investor Relations.

begin. may You

Arty Ahmed

highlights and XXXX everyone, a Oyster Pharma's recent Point release June quarter Good XXXX. XX, Conference welcome Call. Quarter business and results Earnings our issued the This Second second containing ended evening, financial to for evening, press we

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

are Chief Dr. Senior Executive Officer; today Nau, and us the Point Commercial. Chief call Joining Campbell, Vice on Business and Jeffrey Officer of Head Pharma; President our our Chief and Michael and Dan Financial Oyster President of Lochner, our Officer

success Please making results during will and Point note today, TYRVAYA actual performance we results Following on uncertainties statements expressed including financial forward-looking materially plans call that status by achievements that our and and of cause up prepared our relating risks, implied and any statements. future we questions. may from will the be to such other unknown or remarks, These potential potential future Oyster potential Nasal forward-looking open to involve statements and commercializing or operations, future for factors known regarding Pharma's events, for the our statements results, Spray. line differ

of President the close For Jeffrey Nau, a the Dr. June ended quarter Executive XX, the and for today. report description SEC call Chief Officer. XXXX, now XX-Q after turn of these with to Form factors, quarterly please I see our on over filed the will our market

Dr. Jeffrey Nau

to eye a Oyster today. joining for dry the evening, you strong I second Good Spray the and included thank Nasal of momentum am robust disease. Point, TYRVAYA Arty. and continued which for signs you, for growth us positive for on Thank treatment and of quarter our symptoms call report sales pleased everyone,

excelling physicians. update the and to to in to product to exciting an development growth patients in our value TYRVAYA and discuss on business that differentiated expand of our I Today, with access and the continued commercial highlights. assets. patients progress additional our progressing continue Our to development highlights We're brings TYRVAYA our eligible and pipeline provide will this quarter more goal

excited to TYRVAYA the eye U.S. the Patients landscape. that has a by eye XX natural suitable administered ECPs, to in dexterity the is administered are production people find efficacious, eye and affecting We disease poor is that long-term impact TYRVAYA's those production bioactivates on rapidly an for or traditionally differentiated dry care had struggled TYRVAYA Dry condition have most manufacture professionals, within million estimated fast-acting. with and practically on tear a and therapy TYRVAYA's TYRVAYA. provides are film increasing treatment basis profile, patients, launch enthusiasm tear data. film perception interest even patients levels continues beginning a create easily treatment producing quarterly to body's which clinical administration. help of the harnessing illustrated tear high own by and to garner that dry tear by with has more paradigm rates body natural this We enthusiasm We the alike. to in and with both about that our is eye machinery since with ECPs remain the believe of way think brand shift confident ECPs refill delivery persistence natural and alone. been the this

eye of traditional dry after the six medications first cohort, November a Based of IQVIA on XXXX outlets the blended average prescription refill retail order therapy. as last highest our June XX-day in the Our rate representing and data from data eye all X. available from initiation months pharmacy has of between the persistence TYRVAYA from mail is rate XX%, dry

the quickly how patients suffering quarter-on-quarter how take the any and positively illustrates prescriptions In TYRVAYA over interruption revenue. can disease TYRVAYA therapeutics, X,XXX other long filled leading and branded highest become patient current care by often TYRVAYA, for part has of written percentage XX,XXX data in are treatment In and highlights eye eye profile growth. with believe of adherence set has TYRVAYA million therapy. the period, this ECPs which addition, second data after quarter to time important quarter paradigm professionals, unique dry an the a eye restart common reflecting were from data that strong $X.X from generated and to of Approximately dry were XXXX, responding restarts characteristic TYRVAYA. time the during This for net same that We not in work.

to approximately as launch, a ECPs numbers TYRVAYA continue of ophthalmology commercialization which XXXX, with the focus continues strategy X/X being total XX, engagement of both X,XXX our care Prescriber unique professionals eye prescription growth for over July show Since on number month-over-month. resources. Our written represents consistent by and of field-based sales optometry. targeted have to

insurance and that patients make to substitute leading resonating ECPs all Medicare and TYRVAYA and plans coverage eye transformative our a solution. available disease, remain is TYRVAYA In dry TYRVAYA coverage D that no we We by I'm from has growing adoption alike. to a also on as own formulary expect access to result. into continue there commercial suffering build eye to TYRVAYA is underpinned widely disease will and brand mission belief to meaningfully. that We attain our Part a will film, focused natural this Simply that dry continue patient's with share a that is grown put, increase to message patients pleased tear is for a both by

group the by three by TYRVAYA is pharmacy managed manager XXXX, commercial purchasing prescription As of benefit top organizations. nation's drug plan, covered now July

shortly we've these the TYRVAYA's single States, our trial quarter. to in in TYRVAYA programs July program, the treatment the partner, new for Senior to drug access patient patients. will patients signs Campbell, further enrolled a of expand spray addition licensing of Commercial, announced for of President, application our well nasal provide to OC-XX of details Phase introduced Greater commercial our as and performance China, of to unique new in In on clinical first TEAMTyrvaya, the programs assistance eye Pharmaceuticals, symptoms eligible as China. Head dry disease that Outside Xing Michael regulatory approval for United III during Ji support in the the were Vice

with partners We made geographies. numerous progress is people profile from the of dry The disease where the of helping excited are and XXX China, about ex-U.S. of disease. estimated patients prospect in how grow. pleased million remain suffer an in differentiated interest from drawing being to eye We global continues positive suffering OC-XX from footprint the TYRVAYA

access opportunities beyond Greater value markets of engage and in patient and to continue shareholders. international long-term create with to We to to TYRVAYA to potential our partners the China health improve explore worldwide for provide patients

pipeline on update on provide Moving quarter's assets. to the our

We progress Phase X NK, neurotrophic OLYMPIA studies II keratopathy, preclinical have treatment of our and of for III keratopathy. Stage or neurotrophic our or of to strides made trial nasal OC-XX Point's II of program film treatment Stage the enrich therapy clinical and spray gene tear Oyster the important for ETF

remain as option processes, and with nasal of much become unique will our which continued States. the fourth is deliver to we of Given the our disease affect to believe patients quarter differentiated Phase natural patients and track of study the differentiated estimated truly NK, dry harmony results a OC-XX on throughout nasal spray expertise OLYMPIA II Stage In as XX% enroll we I of in United in the for quarter million to treatment working eye the have OC-XX XX spray, that XXXX. in body's

turn secretes progressed. fuel platform Point robust, has Within we vaccines, enriched innovative the a multitude tear And This film therapies lacrimal much development naturally it the gene a Oyster the will patients high potential needs. therapeutic the discovery targets is therapy film. into that our advances of to protein-producing new mRNA tear in goal platform of for believe with gland Labs, engine preclinical like is unmet and recent into of and factory the

have XX natural intralacrimal delivered now growth the completed as in vector second and of for day a We injection. as film gene as to days amounts after for single significant injection, factor present we adenoviral gland factor and up preclinical After encoding study transduction. of tear OC-XXX, nerve seven our nerve human growth observed early the

further very to occurring of of naturally lacrimal the keratoconjunctivitis, activation of after Based responsible future pleased leverage in create Once natural potential adenoviral the administration. therapy day in commissions to patients film pleased a treatment request two this keratopathy, this the the the the patients nasal a natural the program gene deliver for human professionals. the minutes ocular to target film. value groundbreaking film in second submitted a gland eye promise the our the the initially enzyme amount neurotrophic also support approach for the to oxidase, film OC-XXX, ocular of can enriched atopic suffering III and this that anti-histamine surface. to a our discrete which encoding enriched to in asset treatment Stage change quarter We're naturally refrigerated present results the The FDA six into from or excited potential histamine. with is for addition, drop our In a reapplication announce will site-threatening performance and tear summary, on III a within increase These Stage the and therapy NGF requires vector film about part keratopathy. as therapy our data, enzyme program, delivering tear OC-XX plan levels In II for tear II spray surface. is gene gene of second gland, paradigm the produce with diamine two-month TYRVAYA cholinergic tear to lacrimal I'm of significant tear the for and the treatment development as cleavage for We're potential and course. the pre-IND times injected to we increased neurotrophic vernal the currently care meeting in have over biofactory severe

excited would market notable clinicians, of delivering and I the levels of disease am introduce Vice multiple Oyster opportunities pipeline need. high satisfaction and Point's Mike there ocular size our Senior innovation for we transformative Campbell, surface patients the very like Commercial. significant aimed to and significant where President the Head Given see ahead. unmet also at opportunity remains among I about U.S. of now

years leader pre-commercial this pharma ophthalmology instrumental for as biotech in Mike as related Mike known XX will earnings Point, Mike been at the discuss recent Shire J&J with Oyster approximately in Novartis. planning the now and since TYRVAYA's of has TYRVAYA is Vision January well and our November TYRVAYA. a launch particularly, XXXX XXXX. since to in and operations is of Genentech, experience, been including commercial commercial activities commercial Care, day-to-day in Oyster Mike's call Point first has While commercial with

Michael Campbell

route by underpinned the In Jeff, we've generated we and launch, you, evening, treatment feedback just remained and TYRVAYA's dry remain unique success. disease an of to TYRVAYA the from eye to the update symptoms since and of like good date enthusiastic paradigm metrics and months positive received To disease. prospects, regarding We that and begin Thank I'd dry of have provide nine signs of mechanism to with, both TYRVAYA's for confident action for about the patients change everyone. well administration ECPs. to over TYRVAYA's positions growth date eye launch

similar XXXX, of With TYRVAYA's last been when this TYRVAYA's when two quantity with this X,XXX launch notable, outpaced having XX, on prescription over to-date launches. basis, dry a This cumulative ECPs the conclusion putting TRx remains filled November launch-to-date eye by TYRVAYA July those TRxs unique on launch of As basis. in launched around products adopting TYRVAYA perspective for performance since comparing have prescriptions ECPs is XXXX. into TYRVAYA's the TYRVAYA's XX,XXX also particularly product

with an to patients ECPs as remain For many their this committed for adopting as treatment important helping starts possible, paradigm. as TYRVAYA TYRVAYA, we product and

activated field-based unique our have targeted activated represents previously As we and sales has ECPs already launch, has commercial around which over each since of team this X/X resources, week highlighted, since ECP ECPs base the our actually launch. X,XXX consistently grown by

is total, this been further would Part of by adoption D prescription expected half to access. anticipate practices we end from quantities forward, requirement expect TYRVAYA to and have growth. high to build, In patient we We of new the our which ECP and ECP securing Medicare expect patients, XX,XXX new adoption. D momentum has of given Part approximately total growth targeted reimbursement access continued Looking drive with activated, for a particularly ECP notably Medicare year, upon ECPs

results remain TYRVAYA's We in to a adoption who adopted result the as on of have market focused share continue ECP product. early ECPs

share of for market the the first, has disease to week This takeaways continued number stimulate share an written ECPs that key has we As full-scale illustrates TYRVAYA's has been become within commercial this option for a third, X, those therapeutic market market read marketing XX% prior a has early second, patients; launch, adoption; treating July a of announced for share. for prescription achieved dry three share on approximately launching TYRVAYA, with for a TYRVAYA: commercial prescriptions. have and campaign, industry XXXX, achieved prescriptions market new-to-brand eye which to TYRVAYA since TYRVAYA ECPs share the impact shown and ECP direct-to-consumer market potential across been key

to that driver Another patient TYRVAYA's patient refill remain will success persistence. important launch and is

XXXX TYRVAYA results the at evaluated the eye have November continue for highest with the to days. as to year, with patient and observe has a refilled study adopted restart X.X, prescription with cohort the to rates the within study TYRVAYA, cohort, which has the months refills launch, of TYRVAYA's Six dry We when approximately XX in into the commissioned IQVIA number been Furthermore, patient strong patients in five products of persistency TYRVAYA study prescriptions XXXX. matured. an November refill average continued beginning since rates that has persistence, following Oyster demonstrated who and of evaluate the this study among XX% Point grow

continue We XX. study to month follow this out to will

the However, completed being awareness, this launched for driver this confidence forward. April efficacy and patients programs since safety peer-to-peer TYRVAYA initiative data an drive we've going TRx acceptance in To of we underpins by the important of refill year. the profile TYRVAYA. potential in XXX Its our and

August approximately X, community programs TYRVAYA. ECP helped potential targeted These about addition, through In captured the ECP of X,XXX among initiatives, engagements have activities, XXXX. have marketing other inform these the

has TYRVAYA. team securing access market coverage in Our continued execute to for

by now drug by previously plans As prescription we top three country. PBMs, is covered TYRVAYA in managed XX, announced on the July XXXX, GPOs commercial the

secure of in accounts Company is be in previously access to QX been Medicare to the currently lives now September D this The aiming our for expecting XXXX, Company D to the TYRVAYA Part to discussion half team to patients, covered XXXX. of up discussed, those covered particularly by lives gaining about with patient plans, We're excited coverage up and of D XXXX. market Part determinations to dry almost access U.S. as Medicare group XX% approximately has As given with approximately have as is Part eye Medicare start, early prescriptions. to half Medicare

market prescription determinations expect growth in that We also are coverage open would once up Medicare for of another improved place, TYRVAYA. segment this access

have our Lastly, more out-of-pocket provide for market programs do whose supply for expanded patient our access plans insurance. TYRVAYA patients access, on XX-day This or we've support and committed $XXX patient patients optimizing cost cover patients. as eligible prescription insurance programs to increasing additional to TYRVAYA have commercial as who not coverage with financial we to who to over includes coverage, prescription a prescription With expanded eligible well patients. no are support assistance

now and to second Dan that, to turn Officer, Oyster Financial Chief at will I Officer Point's information more Chief please call our these discuss Business With results. Lochner, the visit For quarter website financial the about programs, tyrvaya-pro.com. over

Dan Lochner

I Mike. will Point brief overview of results. you, Pharma's financial Oyster a second Thank provide quarter now

quarter about can in Additional filed details SEC evening. our that Form be the XX-Q second found was this with our

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

equivalents XX, $XXX.X compared cash and XXXX. XX, cash to June were of as million of As March XXXX, $XXX.X million

in For increasing QX strong approximately of 'XX, TYRVAYA U.S. November launch million, achieved net revenues versus $X.X following 'XX quarterly QX XXXX. XX% product TYRVAYA's commercial demonstrating performance,

third-party June the to driven decrease funds. in accounting, reduction million QX by QX for R&D compared incurred insurance, a approximately approximately 'XX relations, in in to in of $X.X marketing by due manufacturing the The same Company following the The OrbiMed. noncash 'XX expense operations. of expenses QX revenues commitments to force the XXXX. compared XXXX. Company marketing in to costs. costs. reserves $X.X to since for material Company's by expenses in The $X amortization royalty for shows, credit same fair increase with million change million in in efforts related due force commercial expense QX of liability, XXXX. product in trade net costs, expenses for the QX access by earned agreement $X.X by as same and to same period interest severance and QX expenses Other million sales The of million was with driven and market in during increase reminder, on of revenues samples, million by of compared TYRVAYA was the offset accretion on which announced connection force million an compared due lower of offset during primarily million credit This XXXX. QX not Interest consisted $X.X related and partially product market increased from to in QX fees contractual inventory generate questions. our 'XX sales advertising, had a the was consists reduction Other Other June expense million business the million was recorded $X.X XXXX. was in due for by was that related payroll-related expenses net primarily partially $X.X 'XX FDA operator The million period of XX, an to educational other interest expense primarily any 'XX. stage value the period included With higher XXXX, The increase compared embedded services, and increased expenses of to $XX.X expenses, public to consisted 'XX announced interest of the million, money severance $XX.X Sales 'XX expense of in payroll-related call support increase by expense obsolescence expenses was the funds. to the decreased the overview turn debt-related increase million loan G&A for the period expenses force expense payroll-related patient on increase as expense the marketing of derivative company. QX I million included the included for 'XX, connection and XXXX. over of services, to a now Company due 'XX reduction Company's legal, earned interest did the and back of income professional the long-term on on will G&A 'XX Cost primarily $X.X of June net As of million expenses was payer $XX.X in stage $X.X $X to to other approval in to 'XX. an Other financials, increase period in primarily of headcount with programs, driven expense to the clinical increased due The money growth no $X.X an in by announced agreement, to Company's to line in part $X.X million October QX in of increase XX, for in XXXX. same income for by related $X.X TYRVAYA. XXXX. XX, which and interest in of QX increased severance also open additional to 'XX the the payroll-related well the commercialization transition

Operator

line [Operator Dolezal first Capital. from LifeSci Our Patrick comes the with Instructions] question of

Patrick Dolezal

capturing XX% TYRVAYA share. within are prescribers mentioned market about you So new-to-brand writing of that they're scripts, who

the number you some color this influencing factors are over Just time. curious that for on think

such in ultimately for there as physicians example, to through? key simulations the step be For overtime? any what's going guys activating And target you contracting nonprescribing are on

Dr. Jeffrey Nau

jump I'm Mike going thanks, have question. a That's Patrick. Yes. great in this to on -- one. We'll have

actually I not past. patients branded drive is of XX% that proud that have in from eye the therapies think one of tried will of the pretty data important about we're our points that

can of that's questions. think we I the But is a exciting here that, new number. really And think that your and that Mike rest talk weigh some brand in of about helping metric so

Michael Campbell

for Thank the Yes. you question, Patrick.

into expect have that the the excited we of continue a prescribers we grow, of TYRVAYA. be whole activate activate commercial coverage. this with -- business coverage about really activating One strategies around to to coverage continuing them We the to about really bringing to our with is obviously focused our mix announced new Med able today. really opportunity D We're group doctors to

Patrick Dolezal

I And guess, it. me. Got one more for

you're the kind And ways marketing time. And in direct-to-consumer dry TYRVAYA the of really could if eye able you're marketing level then just of as relative to you of generally. if what to importance a launch space out curious that speak DTC this are modality cost-efficient into incorporating Just just over curious there presently? roll

Michael Campbell

a of big Yes, part great direct-to-consumer question. forward. Obviously, business our advertising strategy is looking

was know been confidence out and media. able social paid go Part be D, we is that've go with capital. TYRVAYA. those through it campaign to right since to Really physicians lot to as no Medicare have or then way sensitive both. coverage. question more getting talked order would grow be add as campaign being both launch, to or our the that be a as we're we deploy about and that in that a commercial right search time have sense to the [indiscernible] some [indiscernible] we and the to in have in and there's Med coverage to very We're D, physicians strategy something in that go place will that. grow that on this of patients business very for get whether we company it's commercial space. that You not with also believe But about the the no poor which have base has we've do experience close at and And We where with smart through coverage a now this would makes to both consumers, We're have very a to whether been to consumer TYRVAYA a base coverage that point. we able about of to pushing a this excited that promotionally And direct-to-consumer then coverage, experience whether continue we invest

Operator

from comes Cacciatore the question with line of Cowen. next Our Ken

Ken Cacciatore

lot is, A Part all on role. took Mike, the leadership the congratulations My you've and you nice progress, to really the over D. of given good of metrics see and question kind

assumed wondering us just what did a talk you was you of your position? if for just gave bit anything components different maybe you think I lot different Was point Just think press Can where kind on us you eventually. one? was if your lacking where wanted focus. things little then So or value to of Dan about give to net us to going where and per there with that or about. speak priority of Rx when a And you were wondering of we you we're thought also, could

on it to fantastic. love nets You will Dan, access also, speak D financing I place you and Part forward know where then gross going can you the steady can ability the front be in and to with the finalized think And are we're maybe I'd go as progress in answer that. go. any to as the hear think you being and nondilutive to well. maybe progress that to Company about slow making

Michael Campbell

going probably I'm with first, questions. maybe great question. to are go jump and those in there in Ken, reversal we'll the

of engaged have current a our Ji potential Greater Oyster stated, Point China. with number partners, with positive Xing, previously we momentum is we licensing in and As partner,

ensure partners TYRVAYA the development there or and those market that be and commercialized. need the of regions or said, immediately a international Japan, Europe as where being conduct There's partner value some we work additional the best for to partner will where with markets believe combination we maximize throughout have such enter opportunities the acumen be can to commercial successful that are world care the choose in studies. to to There really also partners to goal world. health want we clinical TYRVAYA. large that our really right many That As various

an see to current look an update and strategy sheet. So we front, as this to on add we opportunity finalize forward our once providing to that our balance we

Dr. Jeffrey Nau

bring really NPV finance collaboration I say what an market that obviously, these And addition transactions side, strategic various a of doing the to look that the could would then in we perspective. look is, of that from upfront value as and well at at sorts general in on as

so that's and part of financing our lot And nonmotive a on work of strategy the side. the forward ongoing that's going

us, say, to and we're would gross question, it. a net. expect make addition to in I to very focused continue on So that's for part we progress to very your important the on

You that sequential the quarter is in a probably saw growth.

of and then more We for we the transitions the year expect [indiscernible], that there'll the an QX today, expect improvement inflection up some [indiscernible]. the year and the off based away of from notable number put a improvement next remainder as business be

Michael Campbell

established a in marketplace. actually. Oyster thanks activity really It's lot And Ken, the to having part been Yes. thoughtful question, the been get the -- for it's of Point from beginning of prelaunch, --

our been I to the we're that a lot really our invest good feel about sales valuable has really continuing got good resources in resources. sure to one coverage moving access and heard, focus field here, really priority forward. We been And upside the We've real organization and all we make market has of that think of a us talent you see for ours. secondly, a of of as resources. what and our the real

Dr. Jeffrey Nau

And only but regard in QX, with growth Part versus also not happy prescribers, an just quite XX% say believe the we D inflection Medicare the be well, into with point revenue business entry quarter we're TRx. for in important and to will I just sequential general the as would that

Operator

question Piper of next line from from Joe Our Sandler. comes the Catanzaro

Joe Catanzaro

XQ. Maybe one -- first early one following up on in the potential Medicare Part coming September D

drivers that of there what moving the forward an wondering timeline underlying event. Just for

And XXXX. was on -- from that end to maybe net whether at early occur, should a then follow-up. the the we I to in year. that And net expect on originally related it following that gross think an impact I maybe have does if gross of up

Dr. Jeffrey Nau

Great. Well, thanks, Joe.

for I patients is product D that think an is of with And really think Part things TYRVAYA eye really dry the from the attribute disease. Medicare one important that therapy really this side, is a foundational of obviously, the We related that patients important through particular, to this in related that in really women to going is for disease you probably category. is are therapy age. that's It's as think be an menopause. that Medicare to know, going

on just and patients. As as as for on that medical medical clinics the financial on financial group how well as we this we payers, side, really done with having engage on as and in payers, clinics engage this that As is and great of are the both with team patients I Medicare both has side category side, think a -- discussions side in job well the the important therapy the

obviously marketplace of number older But have really over this differentiated the really it program also that there's that do patients. population something So of occurred what the and [indiscernible] including do course entry. with product profile of the has year, this generic to in brings of think the the early a I to

Michael Campbell

your be then And still quite to consistent the Joe, would say, response [indiscernible] question, I'd here.

incorporates model loaded and Medicare [GTN]. base [indiscernible] financial Our structure fully D, for to access all including this Part additional the consideration

way there And the steadily then a based grow with the of number. Ken, kind positive to response to of will in impact to for expect that more same which net bridge unit material sequentially 'XX. price is a reiterating so sunsetting And we on to the [indiscernible], QX be continue

Joe Catanzaro

Got That's one then it. maybe just Okay. follow-up. helpful. And quick

And collaboration? Just wondering next with when Xing associated that from potentially is associated that Phase milestone Ji not, there's the if milestone initiating III. a if

Dr. Jeffrey Nau

it's collaboration, approval the tied the related a that jurisdiction. that there to in isn't more to then Under but initiation, Yes. milestone

Operator

of Our Daniil with next comes question Instructions] Chardan. the Gataulin [Operator line from

Daniil Gataulin

potential OpEx plan I with of trials the your have clinical respect one you announced year? recently. potential NK guidance for that OC-XX next in to streamlining launch account Does

Dr. Jeffrey Nau

great question. Daniel. Thanks, That's a Yes.

the the our development plan, platform. gene announcement of with So therapy have we continued our of streamlining

OC-XXX both and OC-XXX. So

as prepared As have the stated we year, we from next we request shortly. a from think meeting through will pre-IND very the in feedback remarks, our FDA

FDA. to we studies, all in we this has point human, will would the at look month. that into that in IND-enabling expect some first we [XXXX] receive the although, And on So would then really feedback XXXX obviously, expect time of may some and then the some that bearing go of like from in

we'll IND-enabling moment not have clarity that more will our what that impact and but on look at surely, studies the program. So thoughts that's restructure those like,

Operator

no showing turn over questions call the closing now would like for I'm Nau remarks. the in Dr. I queue. back further to to

Dr. Jeffrey Nau

call made Great. the for potentially In ocular performance operator, expanding closing, pleased during transformative quarter, we develop therapies. to of are disease the all Thank second the including TYRVAYA, progress you, patients of and you joining and with group commercializing thanks today. in

I want feedback excited professionals thank We and for us encouraged great continue care today, are evening. by the eye joining everybody a patients eye potential to the disease remain and have positive TYRVAYA to and for dry reshaping overwhelmingly treatment. about from particularly

Operator

this and you Ladies gentlemen, concludes this Thank your for call. participation.

You may disconnect. now

Oyster Point Pharma (OYST) 13 Aug 222022 Q2 Earnings call transcript