CRXT - Earnings call transcript Q1 2022 | Clarus Therapeutics Holdings, Inc.

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Operator

Thank you for joining in the Clarus First Quarter 2022 Financial and Operating Results Conference Call. Today's call is being recorded and webcast live on the company's website at www.clarustherapeutics.com in the Investor Relations section, and it will be available for replay for 10 days following this live call. Please note that discussions today may include forward-looking statements. These forward-looking statements include statements regarding the market opportunity for JATENZO, the anticipated benefits of recent patient initiatives, and statements regarding the Clarus growth strategy, it's pipeline and IP portfolio among others.

Forward-looking statements involve a number of risks, uncertainties, some of which are beyond Clarus control.

may from results by those statements. that be performance these assumptions different materially expressed other cause or actual to forward-looking Our or implied risks Risk Clarus financial limited and those are with These under development, Clarus position, include, the Annual described risks heading pharmaceutical with the in associated not associated risk factors uncertainties and Factors to but that Exchange XX, for XXXX of filings filed Securities those and XX, XXXX, any year March with on December Commission, included ended the SEC Clarus on with XX-K the in SEC. are and the future Report statements the statements such by as may and obligation call only after reflect forward-looking law. These intent update statements except to speaks circumstances as of to date of or date required any disclaims of be events this forward-looking these or Clarus the

of the to Bob Following I'd Founder, Chief time, be remarks, to not sir. Dr. over Officer will Please prepared At and Dudley, taking this questions. Clarus Clarus. turn President go call ahead, the like Executive

Bob Dudley

Thank is you. interest me Frank Chief for Officer, With joining in Officer, Clarus. afternoon, appreciate today thanks today. Commercial We us Chief Peterson; and your Financial Jaeger. Ric our everyone, our Good and

with get our highlights. let's business started Now recent

payer the Atlanta. Office Patent claims conference. will JATENZO American Once Endocrine for reviewed this Xth publication We received patent allowance all in-person We covering of the an Trademark issued, We new U.S. year-over-year, and from of presence will Again, a in the for of start eighth XX% continue we patent Food Meeting JATENZO. a JATENZO also submit Urological COVID sorry meetings the sequentially, received be in-person presented across concluded Meeting expect coverage notice promotion, of next be on channels. an the Orange Drug front, Also -- and JATENZO, increase are the USPTO for pattern recently near for Clarus we to showcase to since where to Annual just Notably, the see driven Society listed has the medical U.S. in Book. and and and allowance Annual a Meeting JATENZO patent pandemic. Administration's from notice month, Annual Society's have implant payer androgen CLAR-XXX, in total applied the Orphan able and And peer occurs these Drug at concluded the Association a in the for June. women Androgens significant periductal again expect Orleans. peer data reviewed We claims combination for treatment in we mastitis subcutaneous been the condition receptor-mediated FDA primarily an largely plus increase we new of treatment the in testosterone at growth first XXXX a to action the or at breast proprietary peer covering disease data FDA inflammatory quarter in XX% expressed CLAR-XXX journal with of in for first plan I'm delivered We PDM, prescription XXXX, and of women, to Designation inflammatory for of that for the by future. also meetings by a the medical anastrozole in -- New predominantly publication advertising from a

alternatives of to we upsized to offering, of strategic continue while maximize us We finally, an into to also promote runway And enabling noted, $XX -- XXXX. approximately September to close underwritten stockholder cash announced value. alternatives explore million the continue extending public JATENZO as

Chief Peterson, financial Financial Now Ric? status. Clarus's Ric discuss will our Officer

Ric Peterson

period. attributed year. In XX% for was sales. 'XX growth quarter, quarter in prior go XX% financial quarter first This XX% margins same Thank was the million, to you, to first over significant Bob. to results. the $X revenue compared million first last compared Gross to the summary, I'll JATENZO $X.X for represents profit the period

$XX.X with were development XX%, $XX.X promotion and partially in last driven expenses activity million in associated increased with by of general year. associated increase an expenses. operating research sales million, of marketing decrease same by headcount the quarter offset increase increased the a This compared expenses administrative to JATENZO represents period First an and in and and

million So period quarter JATENZO. and of XX% year. with XX% increase expenses the million, public $X.X million last to This a marketing represents were in $XX.X period promotional in compared expenses increase break and driven attributable General associated costs were $X.X same This spend that associated to primarily and to represents $X.X first an down, compared by and being advertising an increase million with year. same in the of sales personnel company. last costs, administrative to the higher again,

compared and same research $X.X million the costs timing XX% year. quarter decrease million attributable clinical period to to JATENZO. This associated development expenses is just in were primarily $X.X with of a last First

equivalents an I upsized cash as noted, April now then, offering into 'XX. on it over underwritten and March plan $X.X will did which of Officer. September fund of we close Frank? will cash Frank, XX, million $XX to Commercial our Our were operating Chief as turn Bob 'XX, million. approximately XX, current public 'XX, And our

Frank Jaeger

primarily to am all the payer that for JATENZO first advertising promotional Ric. grow. the milestones quarter sequentially, Total and I to notable proud payer JATENZO increase XX% announce has driven in first year-over-year and quarter Thanks, coverage the by brand in in prescription XX% channels. as several experienced increased continues growth across

growth been by So the our prescription has let's in driven dig specifically, following.

providers to positive with continue receive we and foremost, JATENZO. regarding and care feedback patients experience their health from First

in of the we are our with impact starting of force. sales Second, see quarter are an to XXXX that changes fourth made

XX fourth XX%. overall have XX. increased sales to ensure from the that number territories representatives increased quarter, the XX% a that coverage recall We we from to to and sales footprint, volume we the TRT approximately we optimize of prescription in national So the

access Next, fourth we concerns COVID seeing the with presence healthcare despite increased are in waning Omicron's provider quarter.

healthcare access provider sales offices. specifically, able rep have to to been So we increase

calls. of provider our fact, nearly of healthcare In XX% are all calls live

to visits patients back more return patient Additionally, normal hypogonadism we means which to levels, are returning provider offices. healthcare seeing for

to year. expect visits see provider throughout access increase the and to We both healthcare patient continuing

launch driver Both us for to Clarus's providing of new are is Vault both patients. to our partnerships with growth important and patients continued strategic services commitment organizations healthcare another for and solutions Additionally, providing leaders underscore AssistRx. in Health two

Let me you give a brief each. of overview

our ordered. session, and the with patients First, telemedicine providers scheduled lifting get on with by our telemedicine do partnership via appropriate visit suffering the who lab And may with access with allows provider be provider Through take healthcare to partnership burden care patients AssistRx from clinical have own AssistRx through our of for Vault a their the the Health our And our second, get enables comfort home hypogonadism website. a partnership, link for can approach. their a administrative appropriate to end heavy tests of being the them. practice from

e-benefits and authorizations, prescription healthcare they AssistRx their any offering will process even refilling with the straight or to patients providers patient, the for gets even And is JATENZO prescription verification, shipping prior handle for non AssistRx and better EMR system, their JATENZO seamlessly filling started XX-day communication with get constant them assistance, a e-scripts. starter after white simplify the two copay integrates the to glove work to home, provide streamline JATENZO. to in diagnosed, the And JATENZO. increased thus and taking these play. to model to from and solutions patient's synergistically better putting to to understand finally, through service to of provide burden we access provider process patient that lot the a It's getting getting important pen healthcare a support have paper, as patient

of XXXX, first quarter for coverage access payer and high all-time JATENZO life the covered. in overall As reached an has and

increased plans with coverage insurance better. are assistance, of patients the This JATENZO the that we this best-in-class success When prescriptions of all mentioned gets assistance have as important expenses where extent copays, bulk of is now one the changes TRT to of channel seeing from and greater And commercial their you for These JATENZO the now in them. patient to burden as we the year. greater should out-of-pocket $X,XXX represents as who amount year of even significant course to accessible in in the growth significantly In there are coverage is of It patients competition. $X,XXX branded annual JATENZO an and over helping States, go financial different covering be reduce mentioned, JATENZO. for look the one is both the And even at even to those JATENZO. the program. For access. United with best-in-class out-of-pocket XXXX, the as we This and are our is of expenses XX% story to compared agents scope for have continued the copay XX% January per of we commercial our support through, and

XXXX, of we accelerate rest forward poised move continue JATENZO we through to growth. to As the believe was

of continue our seen we overall increase believe year, and in to in second now the will First, XXXX that is quarter increase mid into we already that an to this We overall to XX%. expect XXs upper getting possible. have coverage payer the

dose therapeutic treatment allow dosing range, the awareness healthcare to that XX% as be gets Second, of recognition has the will the only on only oral right increase additional to that go We down increase their with or not the TRT JATENZO awareness providers only awareness to to product a are can that this therapy therapy. dial competition will we that oral works healthcare up our and providers the and needs. of will comes dose for patient to in treatment raise marketplace, in share it normal JATENZO find exact of when To patients. believe believe the clear, we that the seek patients the for but flexibility also hypogonadism their market and the of

meals Currently, patients continue represent with about the million over treated. is even X.X million to getting as opportunity prescriptions as associated are Next, the grow market we as on TRT appropriate challenges medication larger. their two key expect JATENZO market currently taking over These that X.X will patients therapies JATENZO administrative and patients is with these per a day. with straightforward for are

our in call, that eight XX patients non-oral on out not independent survey with that therapies. nearly mentioned study of over hypogonadism XXX satisfied their did we earnings know previous are that an current I as Specifically, we

overcomes also an that JATENZO know those We issues as oral. administration

nearly In therapeutic always want and more that doctor physicians switch, the effects. of oral ask they switch the requested their existed, to it a even know if was fact, not patient product, on JATENZO to we would finally, current if learn an patients if side would And JATENZO. was patient about the patient XX% would experiencing knew their the

the months in appropriate X -- to finalized We paid and focus the awareness have an be as and Besides component diagnosed patients. of We to patients. JATENZO product displayed than either currently future. address those like Facebook, through raise this And media stopped of patients know that a our to are And or YouTube. we TV we healthcare provider issues. to who we patients as many the consumer and treated just diagnosed the going in DTC the finally, that candidates like coming is consumer growth targeted greater hypogonadal JATENZO have that advertising previously of place an DTC a JATENZO significant to additional and target believe commercial These option search, therapy I have have driver due consumer patients JATENZO or specific plan the opportunity and social promotional production expect treatment. mentioned, for are Through many campaign the a that million finalizing and plan and these new of integrated to there target that patient. in ideal may to is oral, vehicles be Instagram currently for media plan launch with stop channels been

to I impact those excited what excited lies that So and that we're ahead us want have market place our horizon. the to Bob. I'll now in the turn today back in initiatives, And reemphasize having it we on as we're over I with close, for about current we and the about are Bob?

Bob Dudley

Thank you, Frank.

March. of headed X trial and screening a for we hypogonadal Phase talk some clinical respect in are first around announced JATENZO, of perspective. treatment little patient the of JATENZO highlights updates investigator initiated from where initiation the pipeline kidney chronic an With with in we men pipeline a to about for disease Let's recent

trans starting or of investigator expect all expansion -- and management several males, female for work second XXXX. this transgender initiated of in We another individuals, therapy to expansion half invest male JATENZO which be X first another announce as for label These to also half the And large markets. XXXX. include that Phase study potentially continue label trial the to study we we and lifecycle t a the in with on would anticipate results projects, of

a product there's As to this for Phase daily funding. mentioned we potential availability before, we to initiation second X looking still believe the of oral at subject year half potential in of are and you once also that the

September, deficiency treatment Ubiquinone initiation CoQXX to respect and We deficiency, in Relative X With licensed the Regarding a Australia caspofungin. notably periductal Phase availability estrogen for cancer. the CoQXX of this dysfunction positive positive the is both of project for forms for The secondary the therapy Phase projects these both reminder, from property to in of in R&D inflammatory and subject pipeline, CoQXX project receptor X in primary of intellectual we treatment of mitochondrial McGill potential combination Again, technology an or We of funding. XXXX, to advance combination XXX plus CLAR-XXX half a most + University breast adjunctive we a this study in-licensed availability anastrozole. PDM continue PDM funding. and and projects. second CLAR-XXX and from the of to CLAR-XXX, both again for disease, for -- We related second highlights XXXX. of and for of testosterone Havah in late of of subject the half mastitis JATENZO. as Therapeutics to the initiation as androgen breast

the bringing issue had the patent be this a April, first an Book announced will patents. quarter a In to covering we the Book of for Orange That's total Book FDA's coverage XXXX. the listed X. JATENZO, issued had for anticipate Book allowance notice Orange listed important well. in what's JATENZO of X number additional Orange to the we of In As Orange the patents total listed of as providing USPTO claims that

we by this a FDA claims + second For a year. Last issued covering CLAR-XXX, for mastitis, for of an week designation of the application USPTO of allowance treatment drug this combination And active expect the we of we and is announced review have orphan the the in anastrozole. testosterone periductal notice CLAR-XXX. response quarter under

in just my As starting in there. conferences. noted in-person Orleans, have active of the in attended earlier been Society these we and medical significant New April in Orlando, this Androgen had with in remarks, well all have the we with been completed attending year, a Happily interest AUA

XXth. The XX June presenting also Meeting Endocrine have Annual and in booth live abstracts We a will Society at Atlanta be to the

we just team to As Clarus. my want to give close sincere thanks I

shareholders. We towards our and and are work lean very for hard mean all of efforts JATENZO and our

We behalf. our also work for our partners for our our and external hard support. thank thank we shareholders on And directors their their

this about will look future with providing the in to the comments. And forward after you. final operator quarter. are We has excited positive continued second and Thank that, call our news end

Operator

This concludes today's call. conference

disconnect. now may You

Clarus Therapeutics (CRXTQ) 16 May 222022 Q1 Earnings call transcript