TXMD - Earnings call transcript Q3 2018

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

Operator

Good afternoon, ladies and gentlemen and thank you for joining us for the TherapeuticsMD’s Third Quarter 2018 Financial Results Conference Call.

Following prepared remarks from the company, we will open the call for questions. I would now like to turn the call over to TherapeuticsMD's Vice President of Investor Relations, Nichol Ochsner. Nichol?

Nichol Ochsner

Good afternoon, everyone. today business the update. joining financial quarter for and results you to third discuss XXXX Thank This announcing financial our TherapeuticsMD third morning, issued quarter results. a press release company's the The site, on is press the release therapeuticsmd.com, & Investors in Media section. available Web Officer, Chief Daniel and call Dr. Chief Co-Founder Finizio; Executive today's Financial Robert On Director, our Officer, Cartwright; and Bernick; Dawn Officer, Chief and Brian Halkuff; Commercial Chief Dr. Medical Officer, Mirkin. Sebastian call like may certain this statements would made that to everyone forward-looking contain conference remind statements. I during can based be upon assurance current Such be forward-looking there in will no the and statements statements realized. contemplated results are that expectations, these Actual due annual, risks, our results of our may some differ a and and SEC. materially release quarterly from and in such factors identified press to statements other of reports are which with number filed on the information today, update based TherapeuticsMD to obligation are company no as to and circumstances statements change. available statements forward-looking assumes These replay call Media Investors recording today's the audio also An of the section for webcast in available & be and site. online Web conference will company's

benefit may the November those who call that, XXXX. held Rob and over TherapeuticsMD's Finizio. to webcast, archived CEO, I'll be this With to of the X, the recorded or call was For replay turn listening

Robert Finizio

size approvals, Nicole. delivered company. you, we for three pharmaceutical any new significant Thank XXXX, achievement drug In a

severe menopause. Our a estrogen currently to the to lowest treatment symptom our on the due first approved of atrophy the bio-identical was dyspareunia, IMVEXXY, product approval moderate of dose for vulvovaginal vaginal that contains market for

to XX% hormone bio-identical focusing efforts recently adoption, combination on our through were growth. disciplined dispensed reflects XX,XXXX In assistance October, From translates to total that approximately patient. X.X X.X which we IMVEXXY fills suggests program, I'm The month bio-identical and a for of value taken in a data we access that launching approximately pid protection providing per acquired which of momentum of the months scripts, during very adherence to of of approximately the is on our patient. the to classes first in patient one to was promotion, of paid launch X,XXX every product approval October as well severe happy pay the most first had XXXX. progesterone free in over the moderate per patient, through Since estradiol say with XX,XXX average With vasomotor paid had FDA patient already co-pay in and exceeding ramp are prescriptions to fills X.X two are long-acting for provider we only BIJUVA, strong month pregnancy. to patients. early our birth offices, fast compliance. approach compliance all units The approximately standpoint, We've maximize previous XX,XXX launches results product the ANNOVERA, a for September In increase that four reversible, And year the awareness, approval from menopause. IMVEXXY financially treatment approved drive Based in first seeing is second as therapy first prescription controlled we healthcare August, known an initial launch, these procedure for this and patient. as control Vagifem's symptoms the data dyspareunia commonly year prescription. of fills market parallel scripts. to

being months displayed unit currently. You in we with sales the first can that and four see Vagifem's allied slide

even that launched and yet. to unit both it forward, not WHI the scale, though X,XXX before volume goal our was parallel Vagifem Moving is out was when

a payer much more had We agreeable they environment. also also --

Officer over that more years I to coming a more turn see the like Financial As launch with would financial you scale to Vagifem on update. differentiated product similar even is to slide innovative. Chief can achieve the provide months were significant and we're call this a to looking and Dan, in our and

Daniel Cartwright

Thanks, Rob.

XXXX are quarter results the Third today. in issued included release press financial

was utilization number the few mainly the prescription, prenatal lower IMVEXXY, for attributable for of company's a Net launched summarize business was of units the our This prenatal approved vitamin a due of sold to million in from and key dyspareunia to coupons of $X.X to with moderate for me FDA XXXX. decrease third for menopause revenue product higher $X.X XXXX quarter We the products. approximately XXXX million our compared Let approximately points. third during severe quarter. quarter

and between the assistance were price company. is patients amount IMVEXXY WAC of drug. our sales for revenue will average units XX,XXX cover The mostly company's prescription, with not pay patients large approximately company approximately net -- quarter, insurance of the to full for their win due their When purchase pharmacies to an co-pay near the receiving with the and helps discrepancy the assistance to patients by paid Co-pay to insurance dispensed be patient's contribution starts the co-pay reduced the does zero. lack For by of an from $XXX. assistance

As expect coverage. insurance covering start net insurance proportionately the increase companies through we revenue our to IMVEXXY,

As was such, quarter, our million net impacted for prescription. which in significantly the only IMVEXXY $.X was by patient of $XX is per assistance program cost co-pay expectations, the maximum line by with significantly revenue our to driven for our out-of-pocket -- which

phenomena. to short-term this assistance of We expect period be maximum relatively co-pay

that we are have to our see for product, the good that paid companies turning Now we and delivered growing for the we insurance ensuring attention scripts demand IMVEXXY.

for remainder the with the IMVEXXY to the scripts has large XXXX as through pay. to commercial to process, amount process completed, the for translate the believe our the will that we reducing of payers TXMD companies into revenue contracting goal Our begin in remaining pay is IMVEXXY adjudication Once higher space. insurance complete

for quarter in primarily commercialization expenses SG&A We of Total third revenue begin the year's launch due operating of third the to the our primarily of compared R&D were net of for year's prior during third million of third XXXX. is approximately were approximately QX marketing expect the to quarter. XXXX during increased expenses increase of higher quarter of XXXX. These to expenses quarter an for during the in $XX.X this will you changes see reflect to change expenses million in compared IMVEXXY approximately $X.X and the quarter. XXXX the This quarter commercialization $XX.X the quarter. sales, launch the support costs million the third to million compared with $X.X personnel IMVEXXY quarter. prior approximately and for XXXX

Turning bottom line. to the

loss for with and the per net XXXX. share was Our $XX.X third $X.XX or XXXX approximately compared diluted diluted or share of per quarter basic $XX.X basic for the third and million of quarter $X.XX approximately million

a approximately of million Our net cash position remains XX, We with XXXX $XXX in cash compared raised a ANNOVERA, an of June strong. of the August in our third system. the XXXX. million offering contraceptive vaginal proceeds to approximately population which one-year licensed $XX.X quarter were of equity $XXX.X XXXX, in $XX amount the million net Council finished to million at We paid with

quarter our $XX.X operations for million. of XXXX, third utilization was cash the For

we XXXX approximately effective XX, as in debt September midcap XXXX. from loan of of with term approximately As September an had rate million XX, XX.X% overall our nondilutive with of $XX financial financing

the Following $XX of down our end an of term the loan midcap. planned to part launch with as have our BIJUVA, before additional option tranche of second of we May million the drive XXXX,

over provide Don? call to an me turn the update. Don, Chief Officer Let Commercial our to

Dawn Halkuff

you, Thank Dan.

made we front, progress. commercial have the significant On

exceeding extremely which recent other As Rob dyspareunia momentum of we're mentioned, non-estrogen the the with pleased launches. IMVEXXY is launch,

the launch sustainable. delivered and showing growth our knowing today what IMVEXXY Vagifem that tracking we as is have is important, that As with is

Let me metrics. some important share

go The a every this first, written week. see today writing of health practitioners We have care up is IMVEXXY. X,XXX are of number a number for prescribers that over prescription

intent In brand drive perception addition, the the and are differentiated exactly the the to prescribe. to and prescribing, you Early growth. is see enthusiasm, positive patient and intent future at adoption increase and support programs product what to perception positive this want of sustainable that stage. This driving

received prescription. the Now let's patients average that patient. into is only patient onto approximately we a fourth launch. impressive received X.Xx patients Each an IMVEXXY XX,XXX. month an X.XXX of has over prescription given build Last are new of which are Total move have week,

X.X and per bills or As creams for pills the annual X.X year. a year reminder, is tablets current Vagifem vaginal per at vaginal

with what established. with commercial net drive and are to fully to our has coverage appropriate is establishing payer for them that keep of ensure we A total that that patients, we major Vagifem pills, we once will and IMVEXXY revenue, model our focus the market therapy therapy of and adherence exactly prescription are exceed to capture and for tracking that will As been patient adoption doing. what our the once expansion resulting length we is refill expand prescriptions, total expect on in is

through along with forward motivated delivering established, continue going So is part the a organization co-pay now launch on purposeful in winning HCP for A and the what adherence awareness that and continuing with let's being to program. of focus momentum. differentiated messages expansion. was value pulled groundwork The launch the to sales patient look the adherence formula we've to initial increase that programs is office focused the lay to of focus drive each adoption

of expand key BIJUVA launch in will the the the sales first expansion to momentum our from Additional also quarter come support will two force first Ranbaxy. areas: our which reach

in will XXXX. the launch IMVEXXY for we our marketing of Second, efforts beginning Ranbaxy consumer

what XXXX. early about established believe to Fully we let's Finally, going coverage. talk in net is revenue payer drive

as change early Once end Rob revenue, will the in we XXXX. near lift, are block. occurring step block in commercial payer the the net this six-month expected you We which anticipate of mentioned, see our

turn I the to call briefly ANNOVERA. BIJUVA discuss over Before want I Brian, to and

quarter we As in launch BIJUVA plan second last of in mentioned the our to call, XXXX.

helps BIJUVA follow we as correctly know to for the the We same spending poised that our IMVEXXY so QX, to get ramp position by fast same approach of us that time IMVEXXY. our in are customers will

after for pharmacy. a there And adjudicate the at contracts to signed same to day six-month to block delay XX formulary very for We importantly, with and payer the up commercial plans negotiating on payers. are BIJUVA add be can BIJUVA expect

are responding contraceptive Following and to adoption out-of-pocket and met mandate and we the customers, now launch for adherence, on will fourth is quarter in that with An laid class, prescriptions differentiated the BIJUVA. to Act with patients. the we that it of this product ANNOVERA should presented Affordable with of plan deliver launch working. up, ensure is plan patient model overall last out The the the of plan At category. product XXXX. expected. approved To the prescriptions could the IMVEXXY to With is prescribers so we our gate we we them the in as paired the parity the on initial category support a market the and Care time the needs, year. a spent we a on was we we and our delivering BIJUVA, open in patient WAC of IMVEXXY system existing access first that initial understand no that vaginal wrap costs we program products in IMVEXXY follow the deliver clear with out supported the model would we opportunity grow to potential at driving have The same it with

As the ideal TherapeuticsMD experiences over products call the with be progress. than Pfizer Bernick were provider, a reminder, running market that reenergize with the deliver I'm before in at turn discuss the delivered I’ve with or I to franchise markets aspects and these old, ANNOVERA. to products can the that thrilled [indiscernible] to of less BIJUVA franchise, Dr. with that clinical and will now this for patient the

Dr. Brian Bernick

significance The health. TherapeuticsMD clearly as you, approvals three in the women's Dawn. Thank leader positions of our

FDA message both of products. to built dosing, mess these a years two care a on the and providers we unlike creams. And affordable short easily clear successful demand of to symptoms. with and compounded separate heard of that the been Starting tune be free elegant XX BIJUVA, improve significantly with health that has for per messy legal the in and this approved with softgel and dosed FDA costs should administration be With approved any an With reimbursements pent-up bio-identical annually an to are XX together of care we BIJUVA you’ve the maintenance pricing, resonates to the for their the vaginal and applicator, require times lower million week their there just product both estimated As message a hormone months, annual few women. of the combination BIJUVA margin has demand, regulatory as pharmacies insert meet risks. repeatedly, well-positioned and with the day can time only that States simple respect IMVEXXY's are providers only have hormones with said net ANNOVERA, a in demanding bio-identical healthcare doesn't IMVEXXY and in with launch providers women United menopause both to been of Likewise, used vasomotor related compounding needs progesterone women, hormones and prescriptions to of of million not third-party pharmacists. script an health bio-identical therapy are treat filled estradiol the

to the most transdermal products. have the has BIJUVA normally sleep products. progesterone. BIJUVA number the estradiol for suggest quality secondary should of Excitingly and obviate led are exciting few the wanted of life lipid in is significant points parameters, as the improvements and up One typically solubilization with with separate of associated brought to measures and as only well how oral of respect coagulation that I profile product BIJUVA end need estradiol desired only estrogen of favorable These products both and progesterone and with address to features transdermal and things the label. been improved are the oral compounded are in or that that the a that in improvements using metabolic approval demonstrates products progesterone features seen this

dose FDA. control the showing is assessments. complete next schedule from like consistency the the is we first our how first drug the dissolution only expect with next final This and capsule ahead submit by report in threshold respect to The vitro launch and is requirement released for to as between I and quality address There no is our for this manufacturing method. planned. of the The thing vitro develop of enable post-marketing and batches to is to would -- in further is validate is the setting to with one commitments month the approved almost

product. get hot of FDA of occurring changed With annual up is a the the dose. to Given it was the consistent and new label included the providers, meaningful also X on that the as meaningfulness label important and products has shows approved approach five, combination to achieved or market products statements. of at not from approved -- today. health X $X that X Moreover, is that help going and a the for clinically prescribers affect over to pre-specified used research compounding a the that prescriptions, this and together of story methodology we at is is of this with story, and of and only demand this the demonstrated additional short, would XX is respect week we per to to believe progesterone it market week used XX. our million majority highly symptoms market to address opportunity. will their prefer. that of dose the XX language a the It's is established This, progesterone, in week progesterone, that pharmacists the same In dose use bio-identical the We reduction a pharmacies. week bio-identical bio-identical other where established satisfy approval is the the unapproved other treat flashes no data safety large understand prescribing the market the like Further, dose and the estrogen women, clinically and of to BIJUVA was care women the milligram that the billion only sustain through BIJUVA the the four needs approved however, and use represents differentiated of product meet can efficacy not milligram I of and estradiol, the vasomotor for milligram estradiol there dose enormous this reason lowest is the a bio-identical dose. an of it combination

underestimated. been move significantly and ANNOVERA, feel me underappreciated let has on I to which Now

entity contraceptive a controlled free new and chemical patient the As XX, you procedure first FDA on is system. the only one-year approved vaginal ANNOVERA know, and as August

are and against due contraceptive reputation system. the product support cannot the from care both of and ANNOVERA had this In who U.S one-year both for women's endometriosis from to control of fact, while who allow back fibroids therapy I will turn pills we first-line their infertility. of is women birth that disease a remarks. that, TherapeuticsMD. providers and vaginal great those into health the feedback inserted risk and not pelvic positive ANNOVERA on Other fluctuations avoids use women's in And feedback lower increased allow potential doses must IUDs cycle long-term interest differentiated colleagues for in pregnancy health hormones with often leader that three procedure without it to As will year. community health. women, it OB/GYN study for have and of to institutions and is awaiting a and delivery contraception all who have for And effects control controlled about uterus highly the provider, woman's in the release my controlled the long-term ANNOVERA all fertility the suggested acceptable inflammatory reversible potentially and via provide of its medical [indiscernible] that these the hormone there be I new provide against and acetate with it release products call some the and daily delivery approvals antigenic to of feedback being there menstruation, what new empathize women the the will women for current as instead of like importance overwhelming women offers anxiously levels. excellent counseled military, who of relationships, route, of progestin monogamous estrogenic unintended be glucocorticoid in Rob, provides with are concluding protecting access The this control lacks over given to in and in one concerns that it are are will I

Robert Finizio

Brian. Thanks,

to launch. growing to we we expect see plans and mirror strive can continue you as IMVEXXY growth is its the As Vagifem's

sell regulatory even there makes BIJUVA offers will economic providers. as BIJUVA healthcare use major driver an and in believe prescribe, and constituents. economic lowers for greater patients, are pharmacies Economics our and to risk However, pharmacy's all strong clinical, and incentive it providers sense be uniquely for advantages And today. we

TXMD amount a for birth to assuming ANNOVERA patient ring At $X,XXX. no differentiated dynamic $X,XXX annual for we insurance approximately * co-pay can seven Finally BIJUVA approval has create closing, NuvaRing, exceeding financing years. expectations. long-term potential entire significant just three and each our in for with flow That We’ve In of Clinically and and under potential ANNOVERA product ANNOVERA product. when cash our the branded just priced the we the have approximately to completed behind of could the ramp will free accomplished launched highly market. hitter contraceptive approximately XX% cleanup when has IMVEXXY. the revenue. compared XX% be of is new in this point control $XXX a is changes and IMVEXXY equity save price million companies significant unit products,

adjudication payer BIJUVA As a convert of period time, planned, revenue sales short ANNOVERA. and IMVEXXY followed in should by of launch the into

As executing expectations, you see, could this we've made progress with can year. with the not we're be and in happier line

We open will operator? for the Q&A. call now up

Operator

[Operator from Cacciatore Ken Cowen ahead. go & from Please Company. Instructions] comes Our first question

Ken Cacciatore

guys progress. Hey, congratulations on all the early

feedback from metrics you’re success, these shakes like messaging can some sales fantastic, out. $XXX. So gross having then through us learning normalization, wondering are terms force kind a changing normalization discussions changes, those we that’s are specific, or bit just it progressing the from payer of look maybe of looking kind learning are folks launch, about any clearly Is others on sales in couple a still on of net how the but work feedback -- were you negotiations you great on questions. force or the of and little give refinement just a the And of One, there in anything aren't. at as IMVEXXY, looks

a folks what you’ve little maybe launch So of at terms the is BIO-IGNITE sales that compounders? kind in of from and contracted a give we sense any maybe you where force telling us Thank just update then Just we BIJUVA, of on a feedback you. think with? bit for of

Robert Finizio

questions okay? it to going the Go for to Officer our going hand margin Dawn Ken, Dan, Financial sales the to we speak ahead, and rep BIO-IGNITE, questions. I’m Dan. about for Chief are

Daniel Cartwright

Currently the we number. with be the -- -- Hi, our market, to we current it's Ken. believe a in commercial good payers we around expect XX%,

its pretty your $XXX, accurate. So

Ken Cacciatore

Net XX%

Daniel Cartwright

yes. XX%, Net

Robert Finizio

net here we Yes, just lower Dawn? are Ken contracting of close commercial throughout the 'XX see company, in the would to more, remainder and and side have okay. we any the bigger process the well reason a commercial be they anything and ones into side payer don’t the XX% couple in are up it than

Dawn Halkuff

Ken. Hi, Sure.

is this So Dawn.

terms patient and around so sales there. there to along force remember refining the which ramp you phenomenal of repeat out has the what question, experience redefining thing the in sales was to really really messaging first In if is just with I say we done of fast job out getting in a terms safety And of combines force put concept data. this relief, the the efficacy think

And there's versus learning say patient What have those we the side clinical the I message. really really anything that learning shift wouldn't focus completely we’re that so more experience. on the to on now supercharge that those that they are is

it's really initial so they're until from that. that customers we seeing getting adapting writing prescriptions keep those we to the they are just and [ph] And so hearing continue can what

Robert Finizio

Hey, Rob. Ken.

BIO-IGNITE going as far goes, very, are very well. as So things

-- update which are our the update QX is getting February comprehensive give launch. BIJUVA an we close on BIO-IGNITE in call, will We to because conference

There were can't reasons I number in going it. not a today, hit our call. lot February going and you detail to of assure pleased So is of will for will that you see earnings we definitely that on when get we but be you that

Ken Cacciatore

Great. Thanks so much.

Robert Finizio

you. Thank

Operator

the line J.P. Schott of comes Please next from question ahead. Morgan. go Chris Your from

Unidentified Analyst

Great. on Thank is you. Catherina This for Chris. actually

is, I like terms I Thank IMVEXXY one? now faster versus are BIJUVA, and creams, you like, my of or guess guess the administration do for taking a wise substitutable most dosing opportunity think launch you do like for and are wise on slower guess, a like product expecting next pills In you. how jells your touch zeroing upon right patients curve versus question I question compounding first So, is my BIJUVA in that? think you And for is?

Robert Finizio

Catherina, Sure. is Rob. this

the as the administration, speak Sebastian The acting Brian So spoke with and BIO-IGNITE and panels this, progesterone slide in will are I these a the route about, BIJUVA and let orals have we our transdermals you as that of as really out that panel profile. far on will goes beauty due to spend of like in scientifically. panel Sebastian the here on estradiol a solubilization second. want to on the do of

Dr. Sebastian Mirkin

Sure.

have compounded trial of clinical we So will we you the see Such women majority know. We And as BIJUVA large products. using capturing on product. the a be our as believe trial, observe Replenish you this a a unique to metabolic what -- with profile those comparable therapy that, transdermal nowadays. is will that

Robert Finizio

So, compounding you this have studies physicians. pharmacist data talk compounding published these with your your will will with allow that MSLs to your or in essence

some we for [indiscernible] will we Women that oral as out-of-pocket there's there well a approved our unapproved WAC. pharmacies a BIJUVA in able less qualities [ph] drivers. a oral to pay believe So good as that products. will and saw be think We transdermal with it would real compounded card buy off be economic substitutable or discount co-pay

and a pharmacy genericized with majority plan dose, about, XXXX are like lowers out-of-pocket branded. we then patients -- significantly make genericize market. more will product and yes, out-of-pocket talked So generic it patients out, it piece, And IMVEXXY a the going to genericize the we a buy as by of having than bigger discount money the second the a at money. more BIJUVA our scripts comes lot a pharmacies with our generic and the the a [ph] We market to compounded make lowering is drug drug branded

are American ACOG, clear these a and/or women's argument, product have unapproved today and drivers. medical are single there North delivered have, cash because are And a And efficacy unapproved FDA is they have are way, are what the you use listen them FDA, want. against compounded unique one patients And argument doctors the here what about product society we just were recommend tailwind. have health drugs, and you off very doctors clear a one. or to approved have to You safety that’s economic Endo, that's we finally paying by all and efficacy Think with safety, drugs to now choosing label no every option. an and when and

Unidentified Analyst

Great. Thank you.

Robert Finizio

Thank you.

Operator

Annabel from Your Stifel. go next question comes Please ahead. Samimy from

Annabel Samimy

Hi. metric. Thanks launch for taking my question. Great

the guess the I about, to So go I back compounded BIJUVA substitutability the for product. want to of question prior

there with market bit you doses. little us all its the understand lives be with the safest lowest And And effective that and metabolic with up be I not society medical you’re more you by third it give given perception in profile the physicians we’re are to from covered Is XXXX Thanks. there that then, of been independent, this there it's Now some a driven sort a guess, and this told a [technical going mystification. that now? difficulty] you dose of retail around I have secondly, issue given at they prescriptions it the point. to we start of you around, IMVEXXY of did HRT how the could should most perception these you that could effective you’ve different the lowest appreciate to panels way could toss Is where going that Is a metrics product? or seeing? now? if this problem then, anything color have profiles number the capture or Is sort is dose,

Dr. Brian Bernick

take the Annabel. is I Thanks, This Brian. of question. part first the will

for first trial, is saying randomized its FDA. in have the the this the U.S quality oral bio-identical And this approval of the and placebo-controlled metabolic, compliance. course as Sebastian the is here hormones product. the And of is kind hormones. with are the other the These not let been sleep, all largest first route obviate it's first should this And the and bio-identical know of by approved of mentioned, the me benefits cardiovascular any that that other just speak and profile, that fact So Prempro. delivery and combination for large need most to of life with by FDA start in dose you the the the system only any studied preferred lipid, any they in does,

So, market today. will as it's we believe next substitutable see I this is for we it hand the substitutability, hard part. to that Dawn entire for the out

Dawn Halkuff

Annabel. Hi,

IMVEXXY, terms in know and IQV all selling are not where cases. from of up in to necessarily coming of we're data is picking that's because prescriptions pharmacy for really direct that our So we many that the

they’re seen to IQVIA numbers up. where go so And the is which not from it wholesale picks in retail

retail is expect direct see our growing accurate do working next actually IQVIA it time. months through course of we in to So the with of pharmacy week. the each a for more lot and But over again, few we

So it you in those can see numbers.

Robert Finizio

Annabel, this ahead, is -- I’m know, sorry. You go

Annabel Samimy

pharmacy No, just on … the direct to

Robert Finizio

Sorry. ahead. I will quiet, be go

that. Sorry about

Annabel Samimy

No, to direct pharmacies these pharmacy, direct these just are with or pharmacies are well, independent type etcetera. retail chain as to the

Robert Finizio

wants everybody. they costs if distribution Everybody. Everybody to We sell that need to, the and it right. why enter

typically because know be more market Now accurate. be you do specifically will number as them by everybody that data access well. it that to to that we I we compounding to, there. to for we And here, -- as on will else. it and and But and want will do unapproved But will will up as them with working of directly The Cardinal, times will BIJUVA developed Walgreens well. IQVIA if get brought to you [indiscernible] market well, a are not you -- going when them. CBS, as was work available we And with it something they And, goes the that’s on is me speak to Annabel, is we sell they much we fill know want pharmacies. we two it distribute with which update, through tracked

get cooperating see will you of So [indiscernible] think will right told It's a are I a time. and this we with for launch. matter we by it and typical And it. way very just the is I’m

Annabel Samimy

Okay. about uncovered question And last or then the lives. metrics

Robert Finizio

Yes.

plan at got I’m at coverage. a all it, there's that are on step We at require things the with next will And announced going inflection it, side this no step block XX% or anything we’ve in unrestricted, We’ve very here the a the to as start I see commercial contracts these or and inflection going all in in months finish So point in to end six no We months. sorry, an off a commercial don’t of the QX. little to almost we payers off as -- zero. to big commercial QX the mean, one prior you’re major great. few prior point, see of get

to So from We have what with I And for same it's that market, companies, the six-month have we it's now. not are the thing understand BIJUVA. standard that very -- it's did going just other for prenatal block.

We care are market, because accountable sure BIJUVA contraceptive well. for in [indiscernible] in of a expected not the but as

Annabel Samimy

on what Okay. is of you target the is target reaching timing coverage, And again? that that are around -- that, that XX% for for

Robert Finizio

this in put let's Remember, so okay. just a market whole,

the a XX% market cash So as a it's in And bit approximately, XX% is Part commercial. of -- D, little whole commercial XX% pay there.

XX%. or the to we more targeting XX%, are than So XX% XX%

a us goal at So to I of look XX% commercial want coverage.

like competitors our goal, just have. at would Allergan our Pfizer As

Although we to that to now the they going you QX And just can't adjudicate, to six-month get in on in block. are revenue QX or step It's up a to one I signed most of done, is small pull that. have we see it see tell QX the right. start through going when QX. signing we major that get and as are or big end in to and payers

Annabel Samimy

Okay, great. Thank you.

Robert Finizio

help? that Okay? Does

Annabel Samimy

Thanks. Yes. Finizio\ All A - Robert right.

Operator

Olson of [Operator question Instructions] ahead. from go Oppenheimer. line Please from Jay comes next Your the

Jay Olson

for taking like already to in grow impressive a progresses the the that field how seems to curious about expect patient months time? was four thanks fills you you It about launch. Can launch as rate. the Hey, pretty over just plus talk X.X only questions. I per

Dawn Halkuff

Dawn. Its Jay. Hi, Sure.

yes, So, patients are is an such fill it have to do it we impressive getting means of fill than more months, only a short that it time. one period in our of the majority rate four

simply adherence some us gunning patients it's a is the sure to focus program for to co-pay making and and are the small focus so continuing used always all for in available the the said co-pay think percentage where well and just with on reminders there up cards tackle out really programs and in the with on really a such of are that the getting difference as taken I the past does and the etcetera refill seen put approaches following of So That’s we block we've a real of keeping major really it that patients of and that. inherence X, that are as X some patients.

people remember able We there are three get mathematically it -- things So to are expect grow. out and only program. delivered our four, to just for the just just marketing are we throughout months. four really all those we as And

Robert Finizio

line. And point. in it's Great

goal Our the marketing as in really focused all also should who know QX. to you -- just that grow is that company's Dawn professionals are goal healthcare now to additional the is she the know or growth. initially. that Dawn the by And led effort introducing consumer market offer And expand we compliance say

Jay Olson

about helpful. very prescribers, you prescribers and total promotional how regards your thank the with early with X,XXX talk many can do these doctors the just to Okay, these you efforts? reach And you. That’s plan qualitatively maybe then doctors? to Are adopters

Dawn Halkuff

It's Dawn Jay. Hi, again.

a would calling that on we you model We in of expect that the category, after for as the OB/GYN that we sure high them TherapeuticsMD. writers that know making went also So forward. they remember been gotten we’ve prenatal early on the some years, the first, of folks, that but put lot

plan writers to that BIJUVA. moving we a model those those well. for do is as are so same And And that forward lot of

folks OB/GYN that but of in lots again new high offer therapeutics, writers then So [indiscernible] category, the prenatal.

Jay Olson

Thanks for questions. Great. the taking

Dawn Halkuff

Thanks, Jay.

Robert Finizio

you. Thank

Operator

Please Dana from Flanders comes Your next ahead. Sachs. go Goldman question of line

Unidentified Analyst

Dana. the and on Thank taking on Hi. questions approval. It's congratulations Michael the you recent for

Robert Finizio

Thank you.

Unidentified Analyst

curious reimbursement, day us the scripts become is can launch? what you Regarding also tell IMVEXXY's cadence look [indiscernible] commercial driving just we And your XX expect at payer example, strong to Thanks. [indiscernible]? in when those if know for to lag compared to you

Robert Finizio

Sure.

its So, Michael, Rob.

of, things can't a specialty there six-month in the payers day and market. niche Oncology a block block payer another but you. real payers when that be get seems be and six-month that products it's that with I’m all unless till that that aware negotiate during is So start the is lag to block the like paying, XX that, everywhere But life-threatening.

with aware two for happen we to pay to the that three access prenatals. trying or nowadays. It's since BIJUVA. have was IMVEXXY. And say going launched are for really to You we now But we weren't changed expect that

we’re of is us. again the that, its with end where all behind tail the payers. shape in good So And

Dawn. as Michael turn question to going over your next to goes, it far I’m As

Dawn Halkuff

Sure. Michael. Hi,

[indiscernible]. healthcare what’s differentiated an strong just was get are we understanding the reminder of and products want these designed what what of professionals question The your the and So versus And want. BIJUVA, launch that launch? IMVEXXY a as patients driving then product to with were

it's why makes that They a delivering the and is product folks. of estrogen, experience. to this they part sense So know know is better because patient

not customers, about our stuff. tackle old gate were of were the time product. takes sure purposeful spending before, the So we rep, really a that with figuring and when that made the have as you before figuring with a that out figuring of so the who we really sales out did to We there we of that launch. got the of spoke months focused strong. latter gate the force understanding we and we we about full core have That block out customers approval out got the that good -- we been in, as sales fantastic of story tell were great a out few prior, had Outside out we launch messages on we get

Robert Finizio

Okay. out very launched something went you and a lot smartly, similar. In providers the all or [indiscernible] care direct-to-consumer their of as intelligently initiatives. other comparison in health just know they They educated into

I it's do we pull they’re what and think So this not coming think here. I things they’re think we really think you'll pretty grow on can they're the I both doing. and And and we here see doing well I well them and better can right both them, through us market or like

Unidentified Analyst

Thanks.

Operator

Your go next of question comes Bill ahead. from from Cantor. Please Tanner the line

Bill Tanner

was on taking the for questions. Thanks I call. another

have apologize So gone these if over. I been

Just Dawn. maybe couple for

actually I how I’m it On time about interchangeably staying what that compliance. you patients then appreciate doses take interested -- [ph]. of adherence I think being do are been if Tanner sort you the adherences compliance color more from taking. some recently there's think than if much much the patient the be interchangeably about And patients getting curious that on on point how in But time they and obviously would launched I field more converting [indiscernible] it's just to it's back. And think start times the new on people and is adopted, to TAN as are at any of

what the in term for you feel more of be point or prescribed, do what adherence rates might be? think it is a compliance you'll get at the in As longer actually what to actual time able

Robert Finizio

hand will to Thanks Dawn well. I as Rob. its Bill, So, for it calling.

yet. analytical. because once So as as the far [indiscernible] the as of we a lot data as, floor a far in [indiscernible] That’s on have don’t

of great subset. because data qualitative We a a there's have lot

X and until IQVIA the does. XX of of going to TXMDs those yet release very not IQVIA scripts, One being strategically are accurate the volumes of ratios not on advantages as we well

it. Just about think

there are if off not other, a generic them that. they’re that data one to a in go strong that help dose over and seeing we after an if competitor, with was to imbalance, you’re If the IQVIA launch, have you would

it we strategically going of to QX just today, out for are that kind hold QX, So but QX. in come will sure back -- I'm

So that on to being over it the other pass said, I will Dawn questions.

Dawn Halkuff

Hi, Bill. Sure.

the as the on I'm out field some nice well news dose. -- X of next a terms Rob from little for have in So X received. we so patients appropriate so months what said, the mic, initial new launched some of launch the us. later, the qualitatively hearing don't the and doctors we for And we’re that’s many few microgram, extremely over It's bringing That’s being but months. data why it's is

good is And a thing. so for option us having that

but in the And quantitative terms so of later -- data.

taking getting out strong As I being tells -- the fills achieve months a of these of gate we such put three of and that patient between goal of initial find Again, such of to we the can per [indiscernible] with are out there a see need compliance adherence number and data the far is so and four What shakeout. where adherence sort that by things Compliance me correctly. we and it year encouraged need showing it data. to year really I’m think that about really about I correctly. in think as they you terms

Bill Tanner

Got it.

medication compliance terms then guess, of just TBD seems it on a like. -- in the Okay. with part, I I ever, nobody's I XXX% also kind any of And right is mean, compliant that’s mean, just

… So

Robert Finizio

there that. that where really Yes, about data, come deductible high come listen off when People in influence I previous during X year, the this compliance you folks would good and fills it's plans grab tell sector place, was year. a on from can the you in

So X think great if job. you could top about at out you I a do just

Dawn Halkuff

they they’re right XX and it days, we a as Yes it the know seeing long then we're as are watching. are But but because what that and and time speaking [indiscernible] filling takes again issues They’re the that’s correctly that again, anywhere between at that with fills and week XX we taking planned. generally it appropriate any the taking not with Not everybody now, compliance twice you’re right. it taking we're seeing exactly correctly. as

Bill Tanner

it. Got

Congrats the launch. early very on Okay. Thanks much.

Dawn Halkuff

Thanks, Bill.

Robert Finizio

Thanks, Bill.

Operator

showing this time. I’m Finizio. the turn over Please Robert will call to back at Mr. ahead. questions I go further no

Robert Finizio

you. Thank you today. time everyone joining your your Thank patience. for and We appreciate appreciate we

Operator

day. gentlemen, and have Ladies concludes your and Thank you wonderful for participation today's this a conference.

all You disconnect. may

TherapeuticsMD (TXMD) 8 Nov 182018 Q3 Earnings call transcript