UROV - Earnings call transcript Q2 2019

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

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Urovant Sciences Fiscal 2019 Second Quarter Financial Results Conference Call. At this time, all participants are in a listen-only mode.

Following management’s prepared remarks, we will hold a question-and-answer session. [Operator Instructions] As a reminder, today’s conference is being recorded.

I’d like to turn the conference over to Ryan Kubota, Executive Director of Investor Relations. Mr. ahead, go Please Kubota.

Ryan Kubota

Good XXXX thank conference second operator. joining call. all Urovant’s fiscal quarter afternoon, you, you and for Thank financial results

Keith Chief Cornelia Development. Haag-Molkenteller, With our Medical of Officer; Christine four Business are Bansal, Chief and Chief Katkin, our Senior Ajay team: President new Ocampo, Dr. me Officer; Officer Chief Officer; members Accounting and Executive Financial today leadership of Vice

press release results. Today, containing information issued after market quarterly close, on a we our detailed

company our website, You may on access release urovant.com. the

call, that for Factors cause of materially. our as urologic as planned our forward-looking other which this statements statements, well based results to factors that file it advise to be including statements release forward-looking our risk are During statements cautioned week. press for section on XX-Q we assumptions, making our Risk are the today’s all later current will Form subject regarding treatments forward-looking actual and could and review of differ diseases. are listeners our the to of disclosure our vibegron strategies the as Listeners we we development our Accordingly, XX-K clinical numerous Form and in expectations

our turn I CEO, said, over With that Keith the call Keith? will now Katkin. to

Keith Katkin

all Ryan, and my you Thank you, us thanks of joining to today. for

in from you First, us of and Healthcare, Molina to welcome Investor Kubota, Ryan with like look all Relations. I we weeks. to would Ryan upcoming our new joins speaking of forward the Head

support urology Dainippon are financial optimal commitment for and into our with substantial This Urovant. developing enhanced achieved an specialty for OAB company. commercial has leading We for clinical development key an program from in now Pharma, been milestones vibegron, a position for Sumitomo exciting the Urovant we the and quarter

Urovant definitive In in agreement for into majority the of also Urovant Sciences. close, shareholder of result the with Last entered Sumitomo, second, shareholder interest-only into Urovant a week, broad definitive alliance, support strategic upon with and Pharma five-year an franchise finally, to entered financial a million $XXX support certain will whereby conjunction low U.S. expected facility; becoming creation which loan Sumitomo first, the Sumitomo Sumitomo access third, the things: following Sumitomo-Roivant commercial and committed enhanced protections; agreement agreement the with provide from a with Sunovion; to through interest, profitability. Roivant, Sumitomo minority Roivant has term new

revenue the DSP The and of As a history development drugs well-known multinational commercialization XX company blockbuster drug over innovation you United is top company several Japanese-listed commercialization. pharmaceutical with large the LATUDA. of through drug an last in year including billion in pharmaceutical generated know, $X the extensive States, in

to as of this launch new we vibegron. alliance for the look promising We prepare commercial with forward Sumitomo,

excited and Our underway are we’re support new drug commercial or filing vibegron and for have and resources strategic well Sumitomo. of proven the preparations application launch NDA to

This partnership operations with U.S. market enhanced to resources should support. distribution, greatly optimize Urovant drug managed the care Sciences’ and commercial for approach

with of treatment vibegron’s demonstrating objective, overactive symptoms overactive of study quarter results, its on favorable long-term X EMPOWUR patients of vibegron the safety profile benefit further another tolerability we safety the improved milestone study phase regarding bladder. XX-week the completion primary this the bladder with Now and key period. – extension and confirming for pivotal achieved extension over The the achieved

These who OAB in trouble tablet. advantage administration tablet crushed patients study vibegron as for support our for completed pharmacokinetic of In of food, as a labeling results to are we the have expected swallowing. elderly vibegron potentially addition, a crush soft significant a

progressing sooner. With early for quickly studies XXXX, these for with preparations patients OAB not, in complete, if for our key final vibegron for are filing NDA

and BPH, of enrollment initiation COURAGE which safety vibegron product in both trial, injectable of with the of to population results patient X patient pain patients continued which efficacy Other which line with therapy Phase will the of assess XXXX; and a important end OAB X female top for approved; is and URO-XXX, business fourth include: Part is highlights in no of finalization our currently of novel gene trial by the commence abdominal for product, of enrollment Phase IBS-associated planned quarter XXXX. into expected the OAB men Xa for protocol

Medical programs. to I’ll call that, Haag-Molkenteller, over our clinical detail the who will Cornelia With turn to Chief our Officer, more provide Dr.

Cornelia Haag-Molkenteller

Keith. you, Thank

vibegron As mentioned, progress we our development key our across other excellent and continue achieved make from for OAB to programs. have milestones program clinical

vibegron This X EMPOWUR report pleased medication the Phase study patients Phase data a release. to are placebo-controlled patients XX-milligram bladder. study XX-week with study received extended XX-week vibegron extension of in overactive XXX of the either the of EMPOWUR double-blind or of X EMPOWUR was tolterodine We positive from blinded long-term XX-week study, from X-milligram the extension

a XX-week the for from either a treatment Those study. respective patients a weeks in the placebo from their already or on EMPOWUR for vibegron the XX% long-term high EMPOWUR of tolterodine were very randomized tolterodine the study rate to of period. or completion remained treatment vibegron on for patients XX-week a the the study Of finished And extension, exposure. XXX trial, total XX

urgency The and urinary primary a objective safety the of the and in secondary objective incontinence vibegron, sustained was urge reduction was long-term efficacy episodes. and tolerability study of micturitions,

on sustained the the in tolerability study was profile, are study. safety treatment further extension addition onwards bladder pleased from overactive report over improvement to benefit the entire that improved demonstrating XX-week XX-week symptoms and key We to showed favorable and

urgency a the episodes X.X episodes. episodes of the EMPOWUR minus reduction vibegron of from micturitions X treatment at group, in was X.X Among from day a XX baseline minus per day week was episodes XX.X, per XX-week baseline episodes reduction and a

after symptom X.X for dry, urinary from XX% and OAB. weeks. treatment vibegron most patients of of total incontinence urge X.X urge vibegron incontinence, after the day. reduction achieved were bothersome Overall, a episodes their baseline and a was of vibegron totally baseline sustained of XX% XX of addition, reduction XX% incontinence a In without urge embarrassing episodes episodes incontinence The XX patients XX weeks in week demonstrated of efficacy at per of meaning, minus

the efficacies numerically extension tolterodine, profile control measured. see vibegron better We every particularly vibegron rate of from event XX% the that Phase active the X study point Adverse consistent the hypertension control. was was on in below active for tolterodine, are also adverse The event time XX-week pleased adverse with the range and for achieved to were rates EMPOWUR study. event the at as

oral belief has OAB These underway. Phase of potential both results are that data vibegron reinforce and extension Plans study long-term publication EMPOWUR to treatment. and well the the for become our best-in-class the presentation the X

presented view Continence Sweden International Recently, the of meetings XXXX. a results globally in XXXX. Society in detailed Gothenburg, September long-term Meeting for data the of planned the at scientific was in future EMPOWUR Presentations are

in for extension vibegron EMPOWUR an and parameters many In without of also Phase applesauce. with the as of crushed addition of proposed as X or food be important XX-milligram swallowing. vibegron the support tablet completed quarter, Phase testing study X with labeling elderly we have of the food, this a pharmacokinetic administered The study used long-term if results study potential tablet tablet and to and effect completion final on the administration crushed will is is which difficulty the benefit the patients soft to the in food

of reviewed in Part COURAGE Part development men this which from XX study X vibegron in patients X,XXX Safety and or enrolled. agreed now supplemental enrolled of be can trial, trial program, Monitoring which move OAB independent Board safety hyperplasia program the the benign the Data and in Phase with over the will X BPH, that prostatic the for to data our X – Regarding patients the

to both efficacy indicated in Part pivotal vibegron X of the assess overactive co-primary bladder there BPH. for and at urgency reduction will is Key the specifically and episodes, safety safety. and The product with trial awakening endpoints nocturia currently FDA-approved secondary episodes population, micturition endpoints and milestone the men no reduction prostate for void, in are BPH scores Phase OAB XX symptom hours. X are night as in of a frequency

of the follow total COURAGE X from In a which patients of X of study, Phase extension enrolled study, will X the the the initiation exposure weeks. addition long-term for into patients Part XX Part have to

Regarding of on to IBS-associated is then patients is for abdominal abdominal clinical The IBS-D, endpoint in primary IBS-associated female diarrhea. to were with week enroll scale rating which XX-milligram placebo. who IBS an reduction randomized continues XX-point pain intensity for or our XX% pain, program vibegron XX a either with study pain, at

A baseline responder worst the a defined the decrease subject as is with least in at to abdominal compared averages. XX% pain week-X

lack safety, Secondary global of negative frequency scale rating endpoints stool the of effects or particular, in consistency. include and

in expect data line to from XXXX. report We this top study

the by gene expect of U.S. our per plan the study URO-XXX Finally, to proceeding preparations Xa for are the Phase OAB, regarding of the we quarter and fourth start patient for start protocol roll-on in novel injectable XXXX. therapy end

financial on for pass Christine to I’ll a Now update.

Christine Ocampo

Thank you, Cornelia.

our financial the Form XX-Q, release, summarized results you the information can to week. will in find at press upcoming addition this be later In filed which additional

comprised our development BPH the development, development specifically in In of $XX.X and quarter related second Phase expenses $XX.X open-label cost ongoing the research million quarter same X of prior were compared year. to studies IBS. for for well were Research phase with clinical of and as with pain million OAB, second associated as XXXX, in abdominal trial, the OAB of period expenses our the XXXX, and the

trial, expenses cost a decrease associated the is phases the to When X R&D OAB XXXX. double-blind this comparing with in in as both were completed the two in trial Phase quarters, open-label and of the primarily decrease due

in for G&A expenses and personnel $X.X such in operating and were same share-based period compensation, million legal fees the professional The second including compared as the for commercial is primarily General cost expenses. XXXX, of readiness accounting, million prior year. attributed the and to with increase general $X.X costs, expenses administrative quarter

$XX.X were the in the used compared XXXX, June as immediate $X $XX.X compared the in million prior the XX, $XX.X expenses period to an ended the increase with quarter Total for second operations operating for XX, million million quarter ended same of was September of for XXXX. year. quarter prior million XXXX, Cash

share million, prior million, balance loss the XXXX, total year. same was with a for of for the and compared At XXXX, or September XX, or per $XX.X $X.XX $XX.X net quarter million. in per loss $XX.X Net share second equivalents of the the was period $X.XX cash of cash

of ahead XXXX. to the looking remainder fiscal Now

which will in cash excluding million our be of approximately become $XX filing NDA. due $XX.X of payments to used million, expect per to million on quarter, We our milestone $XX operations

we For to excluding range our million, $XX OAB Phase million the third of X expense of total the recognize are trial. to plan for we be expenses with in to that XXXX, as milestone the expenses, associated operating expect $XX quarter payments, prepaid

million well expect the With Sumitomo, we from to XXXX. loan additional into be funded $XXX facility

development through program. expect with needs Sciences’ stability which we Sumitomo move will we the operating will profitability, additional forward provide and addition, vibegron launch In fund financial continue Urovant our to as

that And ATM, have now anniversary to public it is active we place. and shelf offering, our in the one-year financial finally, initial facility, believe an we prudent an passed planning of or have at-the-market

the in S-X ATM. we form such, a statement, $XXX million million which expect a to file $XX near-term, will As include registration

with that to And update, call back financial the Keith. will over turn I

Keith Katkin

Thanks, Christine.

closing introduce business our would I Officer. and Before larger experience Senior like acquisitions environments President Chief finance, Financial my brings Chief I mergers in biotech start-up Financial a XX remarks, move Business to and as Officer Ajay Ajay and new Development. to of Bansal, development, of accounting and to you over years Vice

strengthen development growth biotechnology of experiences and and a I which the unique to for Urovant, innovative Ajay several set has will business also capabilities. and very our believe led financing leading strategic enhance and He brings strategic capabilities companies.

to Ajay, like would few words? you a say

Ajay Bansal

Thank you, Keith.

resources delighted at filing the vibegron specialty coming next very enhanced years with the up I me Urovant. preparations the financial critical our I’m company. two, evolution disposal, of to into time are joining to launch urology believe it’s and a soon, now Firstly, going for in a and to Urovant at followed be terrific with Urovant three exciting here NDA be leading just be by

with the delighted part I’m it vibegron’s I clinical potential and meeting this a over forward of at journey therapy I’m to of and for become to that patients. weeks. coming impressed to interacting date best-in-class the you to believe several and be data OAB has look a

turn Keith to remarks. back let call the closing me that, With for

Keith Katkin

Thanks, stability commercialization of Ajay. to as for and excitement launch would vibegron. I alliance to to providing Urovant, enhanced with advantages the access we financial global new while global the Sumitomo, like also – which of provide a long-term other resources for our for platform significant prepare reiterate should

key will a marked Urovant and the our second aspects company. of into urology of closing, forward all we In fiscal developing XXXX look of quarter leading specialty us to continue upcoming drive toward milestones several milestones across to goal the business that

overactive into in trial, initiation vibegron the OAB and URO-XXX, the top in Phase fourth of safety the for possibility both quarter and NDA X our pain of file of which start Part the of X by XXXX line by filing Phase vibegron BPH; bladder quarter late include: the and milestones our upcoming assess readout patient These X expected men XXXX; accelerating quarter the with IBS-associated of with of data first therapy Phase will efficacy the COURAGE abdominal of the of injectable the Xa enrollment fourth study, OAB, our continued novel XXXX. into of for enrollment XXXX; in end gene with in

open that, Operator? With like up the to questions. I’d for call now

Operator

Instructions] Ritu from first Our [Operator Baral is question Cowen. from

is open. line Your

Unidentified Analyst

for is Ritu end. [ph] Dushant Hey, Two this on guys, our Baral. from questions

so a just in any a expectations the for versus safety is differentiation better for terms of language? The like Myrbetriq, labeling first vibegron

that in next given insurance set you uptake that in question. if and do for years coverage? five the is how Thanks hit see possibly is, the possibly market question on second the XXXX, expire patent the generics would the Myrbetriq and to affecting And

Keith Katkin

Sure. a I time. appreciate me that, one and try and tick at those let off

as different ways. differentiation, will insert package think, be mirabegron a first, think of that likely it our from relates we in number I actually differentiated to

First, touch the on parameters. let efficacy me

up believe that I X our very efficacy this onset importantly, clearly weeks weeks. a and mirabegron’s eight think, we action takes Phase our to starting it of at two which insert package study vibegron’s dose first states of will demonstrated to to work. potentially as two-week milligrams, label in XX favorably most the And that charts compares the demonstrate

both So our market very and that patients. doctors research, has with in strongly resonated

to Additionally, in example, responder on insert. patients urgency and believe the on things include episodes, of given that a urgency, would about, X efficacy XX% with strong OAB had was experienced some before, based discussed that their endpoint Phase package able our performance have nature. FDA, drug endpoint the many think that Cornelia their that I in urge the additional we’ve talking of no the as incontinence the for of our that has discussions the outcome of may also analyses, things other we we in This be reduction percent urinary

be we’ll think, well we So an from differentiated efficacy perspective.

perspective there, of think safety we there number a be From too, of will points differentiation. a

our First drug-drug lack and foremost, XDX. of interactions, on particularly

via drug-drug And market XX% are new from label, have mirabegron that research, certainly that worry do If metabolized are well. giving you those a we as patients they drugs that look will believe, they therefore, for inhibit them at the mirabegron XDX. on be pathway almost very our about of don’t patients interactions, and taking are option where to meaningful

have that QTc, at that impact dose, In know QTc. mirabegron, vibegron impact on on we have no supratherapeutic addition, we has whereas it does demonstrated

because the ability an an convenient it’s And dose for patients elderly dose then crushed, swallowing, wrap our whereas particularly finally, have to single formulation. be mirabegron be vibegron’s just certainly and who will advantage titration our up, can’t be versus problems crushed, to extended-release

will much in there’s vibegron and host approval. FDA why getting we of to look and mirabegron think whole patients over we physicians and that reasons very getting prefer NDA a forward So

time of will a – before As that’s it of entry the whether we’re it that is relates end them OAB And uncertain years marketing in But will generic of best-in-class introduced. us to about generic to plenty happen we XXXX for think irrespective, at or right mirabegron, as with vibegron the your XXXX. sometime give three the about product. question of establish now,

step-through mirabegron as for payers just us It’s communicated we’ve of to within last payers have a plans. view Additionally, They – their not vibegron they use expect as to this category. had discussions to managed the them as evenly whatsoever. do to recently not a with would do to cost-effective as have have even highly not week, that

the So vibegron profile all to be we studies in how emerged versus all, in are position at we’ll and mirabegron. excited extremely from able effectively that’s the ourselves

Unidentified Analyst

lot. a Thanks Great.

Operator

Eric, JPMorgan. Joseph from Eric is Our next line question is open. from your

Turner Kufe

any evening. you’ll and your of distribution efforts aspects you been plan leverage? sales just it’s just to to specific on one. I’m the anything. other long-term a quick you. in there Sumitomo This that does urologists I’m then I’m study? you target just since to the XXX-person hoping care sales heard And this one there’s force centers? for a and good receive support Eric. force could primarily we’ve are curious if on able update bit elaborate Turner initial And change from for – if are and/or Hey, IBS commercial pain while an Thank is

Keith Katkin

Sure. Turner. I appreciate the questions,

large U.S. – Sunovion. have success tremendous billion. having demonstrated a of are we LATUDA have discussions infrastructure quite and So which amount sales is here, with business a the exploring of $X with Sumitomo’s obviously a They and still exceeding

far we collaborate is able focal to them host We on distribution talked may drug areas, where different us. to important about them. so Certainly, with be a of for an point

aware well that high companies, probably wholesaler very whole fees. service with You’re wholesalers smaller hosted

We access think can we bit wholesaler us under fees, gross fair margin. the save much to – that actually that service can be have their umbrella, on should Sumitomo we’ll now we lower a which

Additionally, a account a account very and managed footprint of executives. they’ve managers got care large number with

And relationships how So and we’re them can we’re the number franchise back-office full then U.S., exploring commercial of discussions Sunovion into we’re support having capabilities tap having well, which discussing all leverage in with and have the a those them. the of also potentially they of with as we with also payers.

people people effectively to think small to well. had able Sunovion think "small about have the to in all alleviate and infrastructure our ability extent commercialize I so concerns company" ability that that Sumitomo the as should all, to into a about any And tap company, being I the as concerns launch a greatly

continue your expectations, that look we we team, urology, force get and sales a expect in urology able XXX-person we’ll as for who forward near sales In field force. got approval. about that tremendous We’ve sales have and sales to on ramp we question sales being that a brought already to field force to team up director national regards experience has to

care which that we’ll upon accounts focus sales homes we force, call able Additionally, a of and XX-person key have long-term area. be all within key the to will and

discussions about co-promote. a is – some there for having are We a with potential Sunovion

them. too early Urovant We us to that we transaction for could sense make at potentially shareholders it I we on that’s treat would something whether do think, or and and it’s that that. not – like Urovant would to expect have reasonably anything arm’s an with length do on to would do something for

then with And forward That question second your continues was I think the program. top expected regards in program in IBS line data to move XXXX. to pain

And so program providing much very continue enrollment continued as we’re to looking there. on that updates we forward

Turner Kufe

you. Thank

Keith Katkin

Thank you.

Operator

We Wainwright. Raghuram have line from Selvaraju the H.C. now of

is line Your open.

Edward Marks

everyone. afternoon, taking for Edward Ram. This the Good questions. is appreciate Marks I you on

arrangement Sumitomo Just on million? go you’ve for out to through that the initial more you to really the commercialization, wondering $XXX just earlier of plan the spending the after back just if half lay gone could

points, wondering million then Capital much launch pay clinical devoted that a loan, willing that the reach if also down whether some And whether still wondering there’s before on to with or ongoing? you Hercules specifically, about guys commit funds profitability? few how towards aspects are then of the And Sumitomo a was $XXX more be you’ll that just $XXX just the will million, capital roof

Keith Katkin

the questions. of all appreciate I

with general, $XXX spending the funded loan So I expect into our that had Christine XXXX. million is plan facility, as we’ll unchanged, in be we said, well think, and

We Hercules not we pay certainly, whether are, should down as the loan. you’d or evaluating expect,

to that to so and will the with Board sense really may we’ll level, loan Sumitomo the and at our a interest that economics look lower be that. with expect, we through all go associated make deal. retire But at that need it prudent good, What

pretty terms a commercial and of clinical dollars have commercial, or programs In we spending. full – plan more plant clinical on full to always it related had as spending

that any year staying the with front. had really this with But that as rather, don’t remainder Christine increase of said, guidance. spending on in I on guidance So the for track foresee

we’re obviously, And the a relative then very spends, that with Sumitomo. on finally, early in terms still in cap of relationship

on very appreciative we to are capital move like. our with what expect on to fund that exactly would the through company they have full we that execute And we’ll plan So them, as discuss forward look profitability. commitment and

grow business We in development continue Urovant. more the obviously continue our of bring to pipeline efforts. products do We to want with want and to

for So be relationship focus our a as kick as big well that will with we off Sumitomo. us,

Edward Marks

Excellent. I appreciate all the details.

indications a bit vibegron? little follow-up. commitment What’s for strategy. And their I more for then on Just beyond Sumitomo’s and OAB one level have interest

Keith Katkin

Yes, certainly.

if patent generic. shoes, at think in I XXXX looking you LATUDA when cliff goes So, $X in a they’re put billion their yourself

vibegron them. And goal, that And that they so of approach important intelligent one think, different I that could so products they’re pipeline that of pipeline number a on say, with shots is potentially a fill have taking gap products gap. very that to the I more with for fill can think

So open excited they’re are in vibegron Obviously, believe we very to potential indications. that possible all of I all about maximizing the full OAB.

IBS-related have out OAB we of excited treatment a very from men capital approved be patients indication a support pain., extent, think, with there that pain. suffering in We’re be robust large for abdominal there product the certainly, to And the certainly would to that IBS first BPH. number available potentially saw very and I ever effect to

Edward Marks

And a favorably the compare long-term the then long-term tolterodine long-term data data, form? when XX-week in long-term talking lot sense. from data, I’m publication indicating final very superiority be degree meaningful? data then of released more about to or presentation they’re this it’s to be which find going makes to clinically you’re this and to on just a when is prescribers That they it And whether what question, the full that mirabegron. just wondering will to does

Keith Katkin

you the terms of and in want publication comment timing? plan do to Cornelia,

Cornelia Haag-Molkenteller

– okay. Yes, is this hi, Well Cornelia.

publications. first the that likely quarter present plan and the most So of Scientific early long-term XXXX, data the in Congress at to full be by paper we will second followed

will first be presentations. it So

will of do be the one. and Keith, take XXXX question? can you the that You want to the expect publications be in and then prescriber second to first quarter it

Keith Katkin

Yes, certainly.

that so astutely lost that very think, benefit I many included we’ve the providers endpoints And them, numeric versus data at the healthcare expect, on the tolterodine And you you’d long-term tolterodine actually tolterodine, shared study, out, is as of with fact the their vibegron excited pointed mirabegron data. certainly, of with are number as mirabegron a the on one performed those consider XX-week throughout period. not of than in that when which especially worse you

So said, And and we with it of best-in-area look efficacy I vibegron best-in-class think really the as supports to potentially moving forward profile process the vibegron. through FDA. the approval

Edward Marks

details. right. All Thank you. appreciate I all

Now – now. in jump the queue back I

Keith Katkin

Thanks.

Operator

Next is Joon your we Lee have Lee, Joon from SunTrust. line open.

Joon Lee

for Thanks question part congrats and the the becoming Hi. family. on of Sumitomo

mentioned, for compare does And have milligrams. dose Is with how milligrams the typical of efficacy a is end eventually XX dose And a up you XX the What’s you. the dose milligrams? Thank vibegron? for being XX mirabegron that follow-up. steady-state at As or XX mirabegron? higher starting I

Keith Katkin

Yes.

what of So in mix of of is, terms XX% at data business being milligrams. mirabegron the the XX% the XX it’s if take and look IQVIA a the to XX-milligram you about remainder

So of because relief that is smaller doesn’t starting the market the falling almost they’re and off not to half wind want. dose or the and progressing potentially dose of on dose that therapy, up they lower the there on is just getting higher

do cross-study a which the your vibegron has you to about if previous vibegron, mirabegron comparison limitations. mirabegron the second part and question comparing XX-milligram there, XX-milligram studies so with data certain of to look between data certainly And at

– the than a that mirabegron. we’re actually seeing on numerical by provided what seeing see a – on numeric vibegron base higher we’re vibegron with with relief that will You is

asked, and we’re were numerically to And so points that tolterodine, in better we time extension the tolterodine active than all be last at an pleased that XX-week control so that there’s think I to why relates at able looking was question study. the

Joon Lee

of patients to get try tolerate typically who how physicians many that something and XX, the higher explore XX as dose actually is patients tolerated, relief physicians from milligrams the maybe higher or if – don’t that do? dose do mirabegron, or So

Keith Katkin

Yes.

but you not. is suggests that, is it research patient think our communication what that and the think would really better is, the the I than between physician it’s

the they not fill prepare as or dose, getting doctor the for up either So very didn’t the them or XX-milligram it a They had three hopes on patients wind these that off the early what within percentage they to maybe many prescription. because and cycle months. hoping relief mirabegron They come fully patient get of sample in were large a because And expect the up they wind gets higher themselves. it. then stopping treatment

And concerns with so those coming opportunity, around up – start a to in failures we are that’s also period. with But pick three-month one, huge off a why that dose subtherapeutic think could those another within DDI doesn’t you have and have have patients when all mirabegron doesn’t inhibits GT and work that doesn’t fast, concerns fast product that any XDX, GT product any has a works concerns. a

be once available for the vibegron pretty we’re there once think And that decision prescribing physician. to – the going easy is is so out and we

Joon Lee

totally from But given that for Thank housekeeping million $XX ATM, and low-interest that shelf – shelf a what then in in would in you a Great. good $XX use million Sumitomo? loan million And the I have understand place. $XX have to just a the house it’s be you. that

Keith Katkin

just and our the think At believes good, prudent time, just current Audit Yes. financial Committee that we it’s planning.

never you advantage that know take are of may want to out there. You opportunistically may available what happen funds and

thought would want worth Board capital they not thing do were we strong, where be so we into. that and tapping of advantage a our could were they that the market to take position last is And in

price, happy conditions, of million forward. move stock time, we’re received current things that very from just the the that to nature at monitor $XXX But obviously, we’ve market with Sumitomo. as we continue And we’ll

Joon Lee

congrats. and Great. you Thank

Keith Katkin

much. very you Thank I it. appreciate

Operator

the of Wainwright. [Operator H.C. Instructions] line from We Raghuram have again Selvaraju

is line open. Your

Edward Marks

guys, Hi, Marks for follow-up. here. again Thank taking the Edward you

ones Just for me. two quick

NDA data and that Just testing track to the December? making submission that stability on still be for still gating completed in sure factor is the is major

Keith Katkin

That it’s kind next is and to watching paint correct, of to as month. waiting that like we’re get dry data now

Edward Marks

to the seems cliff, terms broader growing can about and be seem on considering finally, to then of be just OAB some promotion I the Astellas’ And talked active level yes. of a that you it they in growth, with Myrbetriq. out details patent of of strong imagine, pretty backing market

wondering broader beta-X what’s actually this patients could on over a differentiation anticholinergics? for be about like beta-X of need vibegron really mirabegron, consistent growth. if sorry, you And switching a driving the stuff I’m more the messaging or this I’m around medications, the talk So to what if OAB to still medications – market benefits versus there would focus would are have conversation

Keith Katkin

important talked And note at what’s I are it’s you the look still majority and on anticholinergics, cognition the use good from concerns there’s of of that, think And of anticholinergics. dementia Yes, a the really about is as about the more the we’ve those emerging as to risk and market in of the impact question. increased past, a certainly anticholinergics. large market, literature more their

conversion of as really vibegron the sit think We anticholinergics a choice. going is choice, opportunity those that think to as best with the market patients and that where over a over to the want not biggest position think biggest patients make going for those the that So obviously, when is we beta-X. they to big from But fight we are back to opportunity about market is, we as and head-to-head opportunity we trying beta-X. Astellas

like so think, in class that typically, you of a class new in expansion a where see when product. large historical the if I anticholinergics you class and see, class second situations, And class come like got products then beta-Xs, existing out, you a an the look at you’ve

just mirabegron. well, beta-X more over the taking patients we’re that we So to anticholinergics converting represents our than that hope in from our we and the patients patients from these are Astellas expands are that class a market on because both better opinion, and us frankly, and is win-win suffering the safer, beta-Xs for and And quite from beta-Xs patients, think, than when for as anticholinergics we for OAB. are

Edward Marks

my again Thanks questions. Understood. for taking

Keith Katkin

Thank you.

Operator

questions don’t call. closing the We Katkin call the the brings for of moment. question-and-answer Keith Instructions] session remarks. the us the end over have further to [Operator I to will today’s at any of That turn

Keith Katkin

providing to for and day. operator, updates progress. very you today, with everybody appreciate our call on you continued Thank us our much, great a we forward Have and look joining

Operator

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

You may now disconnect.

Urovant Sciences (UROV) 9 Nov 192019 Q2 Earnings call transcript