EGRX - Earnings call transcript Q4 2017 | Eagle Pharmaceuticals, Inc.

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Operator

Good day and welcome to today’s program. My name is Keith and I will be your conference operator today. At this time, I would like to welcome everyone to Eagle Pharmaceuticals’ Fourth Quarter and Full Year 2017 Earnings Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer period. reminder, call a February being As XXXX. XX, Instructions] this is conference recorded, [Operator my turn pleasure to now is It to Investor for Lisa the Relations Eagle Pharmaceuticals. Wilson, over floor ahead. go Please

Lisa Wilson

fourth results Officer, you, Executive Tarriff webcast quarter for call. Thank Officer, a ended is Investor me Scott Pharmaceuticals. Wilson, Pete and accessed for issued Lisa to the call of financial website eagleus.com. section are XX This on Welcome release morning, the Eagle today’s can This Investors X press and year months at call the detailing December Meyers. XXXX press company and Keith. This release full earnings of be XXXX. XX, Eagle the With Eagle Financial and Relations through a Chief Pharmaceuticals’ Eagle’s this Chief

call. A statements shortly noted replay the specifically available the Actual those results in differ disclaims as we will I this future information Eagle Pharmaceuticals Before company’s performance SEC. These based or this and and express anticipation any and statements including are risks may future not the projected remind in and statements by law. of call to Pharmaceuticals’ completion everyone these statements with belief, forward-looking intent telephone events release of on after forward-looking Reform defined on Securities performance. except involve future to uncertainties or from Such morning’s expectation, as Litigation that like are our statements. that obligation to today’s projection, as forecast, filings press guarantees forward-looking conference regarding update Private of Act. Eagle statements a management required started, made would materially by any intent forward-looking get today maybe available be considered those the forward-looking

be webcast You X The will available website, eagleus.com. today’s dial-in will information press our the archived find on for in release. year

archived related made webcast, replay this maybe February discussed. who Since have and topics recorded to the on XXXX. call of benefit XX, announcements the held to listening may For was or the those Eagle then,

recent filings. I So, most CEO, over company’s Tarriff. call will please Scott to reference releases with the And Eagle’s and turn that, press the SEC

Scott Tarriff

out expanded And and million develop for experienced point timeframe, profit an We million EPS XX% XXXX, caregivers the XXXX. to leverage. shareholders. $X.XX everyone. growth. profit during margin In Since period growth with margins revenue profitable we and grew in Lisa the best-in-class drive you, public to we significant EBITDA from in good injectibles value in and additional generating coupled EPS to and I XXXX in in then margins, due patients have rose ‘XX and continued year-over-year up Eagle would our for and now our Thank XXXX. operating same going respectively. from and were also to non-GAAP The was XX%, both like and in XXXX, ‘XX delivered to in over ‘XX XX% morning EBITDA $XX non-GAAP growth of significant reflecting and $X in revenue in EBITDA company’s up our to XX% XXXX to $X.XX $XX XXXX in $X.XX same $X.XX EBITDA. now have for XXXX million that

turn few to discussion in to year and in year catalysts, would XXXX some key another pipeline to be the ‘XX. sheet, the before will historical ahead the our highlights to of the will a to with upcoming you our our provide opportunities strength portfolio been growth think and we extraordinary. of continue continued leverage we growth business like expect I a deliver strong Combined our results. recap on what’s of assets has ability for balance I our agree Based that from our Eagle. performance of current could

have revenue First, we which payments to on received Teva $XXX we and Japanese milestone primarily and in market. delivered strength royalty rights of our from formulation, of record for Bendeka licensed the million SymBio bendamustine the

advanced which began and of our approval of the fourth that file last to the we during subjects this pipeline in ahead tentative FDA and We completed on injection. study XX schedule fulvestrant NDA very sites. enrollment fourth for of successful report are are we also including randomization our week And pemetrexed and of quarter quarter year. clinical early an the received enrolling to at track multiple We pleased year PEMFEXY, programs the we last

of our positive seizure The bendamustine induced first related these families patent the study treatment to an for damage. and the our company we results potentially portfolios of to do so initial new XXX(b)(X) nerve And formulations announced of dantrolene brain existing product protection pathway. for for with indications. strengthen We agent and Ryanodex using the expanded seizures and

$XX have value to conducted conducted am a the us exertional this reflecting XXXX. strategically million Our excited addition the the of enabled year than strong cash to total continued an we stroke. will deliver of trial the Ryanodex and the of over million agreed for pilgrimage, a in year August buyback in business $XX for for the also the during study The the clinical in long-term. additional to forward I of in our heat with during FDA position similar for XXXX to buyback during Hajj be Hajj report belief on Eagle path trial that stock million to we our more of $XX potential

on strong new subjects. and have threatening similar over slight ability conditions believe time We support allow study excited to positive data set We with to years the on are can year time, that earlier we will The be If the are pleased will results this We momentum our a study depending overall we an be in we more potentially held will the well. with collected Hajj within product all A in recruit XX. and of goes review as XXXX, of August plan the as with the other this EHS data. completed and areas XXXX into proceed a will study a on starting as FDA’s condition the that run ground And us and can that now for very most in EHS. Hajj confident the successful work with hope the and season. anticipate market started the week. our I business we begin go am

sales in with combined The million filing, a accepted filed are submission half second and am XXX for are and has the of the track our you fulvestrant With this enrolled priorities and in the as I are assets NDA an and $XXX additional We fourth acceptance worldwide our the early of in the ANDA pending that to file the quarter most products first is the XXXX we branded an two of programs. subjects, on for sales with of are file of year year Our being An to $X of for fully these developed billion. we intend anticipate provide of to excess This follows. pleased during randomized outcome we announce the two asset trial filing. growing. details If about the we the will awaiting product. FDA year. quarter branded more study. advanced now product the

trends. continues Ryanodex on multiple Our with work

other heat discussed, injection are which potential I to exertional addition moving. an In to just indications our efforts stroke and develop IM

And as focus on Eagle’s you evaluate we opportunities optimizing our be business. to to these lastly update cash coming able position in biologics efforts expect we the our end our and on strategically. solidified To We financial that utilizing months. will we

obligations of Arsia the acquisition have million very $XX been exchange in the in settle to and potential with milestone pleased of cash. We the $XX opportunity for took million

And investment advance and and promise their with had $XX for work with Our us across continue to to biobetters will they of working sector continue the in of the Doctors signed million. full Eagle consulting fastest which Klibanov holds Eagle long-term total agreements Eagle will develop Biologics growing the range is in products. us Langer tremendous industry.

yet We Eagle’s an the million have additional and August Board $XX purchasing Since to share XXXX, plan authorized plan. the financial continue turn $XX to approximately million that further the the also of remains and part intend to of I repurchase shares approved stock, Pete we to Eagle quarter as of Meyers With repurchase We XXXX another completed well year we purchase to shares. results. fourth could continue be Pete? full year very over will our transformative company. call update opportunistically for believe

Pete Meyers

you, Scott. Thank

Scott record As a EPS. XXXX EBITDA we mentioned posted on fronts; and multiple revenue,

to dollar Ryanodex unit income XQ on $X.X begin to $XX.X from with the from $XX.X XX% of in QX review me XX%. XX% and increased rate million, XXXX, in million market fourth share Royalty a which rose million In market rose payment quarter. XQ. decrease from by $XX XXXX, sales as compared sales quarter the in Let to XX% million included revenue up Ryanodex a XX% Product total result the to basis. increases Teva. $XX.X prior of quarter milestone in the on XX% Bendeka, as share million a from product market of a in was sales a the Ryanodex $X.X were XQ partially an XX% Fourth well as to in as million of share $XX.X million XQ offset increased quarter Teva royalty well year-over-year in in compared in driven Bendeka Argatroban. and Ryanodex were increase to by

and diluted was basic Adjusted increase of the $X.XX for million the per due XXXX XXXX million per share decreased million share share income the per compared to a the $XX.X months the end to XX, levels in or These the On ended quarter $XX.X contract lower $X.XX of at in year compared the expiration expenses adjusted our second expansion basic as personnel-related partially SG&A basic discussed income was $X.XX income per quarter for net to to the to to $XX.X sales or by million were during fourth $XX.X share net in income of the quarter XXXX fourth $X.X Net for force the per compared non-GAAP of largely December per to expenses purchases. of in of of the in diluted fourth XXXX. million the the as and prior quarter well $X.XX factors above. and million $X.XX net $X.X $X.XX decrease quarter. marketing or million reductions prior expense expenses. fourth front, three R&D year offset million expenses The with and diluted Spectrum of XXXX. reduction $XX.X $XX.X due in the or per XXXX decreased was per June quarter associated $X the quarter million, $X.X promotion in of non-GAAP of basic to share to the $X.X quarter million compared due $X.XX diluted API

income in XX% of sales revenue rights the Turning in $XXX.X Teva with with legal XXXX by in achieving agreement overall with sales royalty to in License sales income grew in received XXXX. million driven Eagle’s $XX to for decrease and in upfront revenue. despite of now milestone to to to $XX.X and compared an licensing to full Bendeka associated compared with of with a XXXX, connection year as products in Total for to contribution results. In XXXX continuing $XX.X million income SymBio in bendamustine reflecting to the product increased increase million XXXX rate to XXXX other XXXX. Japanese XX% milestones compared primarily an compared from increased year contractual Ryanodex the million products. as certain XX% in as million million. expanded million of collaboration million $XX reflects and quarter to our $XX.X XX% in well Gross of all fourth million significant in to $X.X compared in $XX.X XX% million a in the we XX% $XXX.X XXXX XXXX. was other during Bendeka increased $XXX.X due to License XXXX our covering margin effective payment Royalty payments increase

including we the as development quarter advanced On commenced fulvestrant, compared XXXX. in of a candidates, for to multiple trial increased clinical XXXX $XX.X our fourth expense front, to the million result XXXX to which in $XX.X million in efforts R&D of expense a product

we the Since stock-based to will outlays the expenses and complete million XXXX EHS during XXXX of API items, non-cash Excluding full of was compensation This of XXXX. in for R&D $XX.X of of in were Ryanodex R&D $XX of approved. clinical ahead as fulvestrant the spend expected reflects expense the the $XX well expensed of a million. launch quarter other first anticipation range million. XXXX study schedule, if larger enrollment to able portion expense year be fulvestrant to in is fulvestrant XXXX our enrollment as non-recurring be ongoing and trials and R&D

be other due XXXX; increased two, EHS to marketing $XX promotion contract with number by in support state of from and number compensation SG&A the in to $XX.X the $XX.X expense range associated increased XXXX at external million XXXX non-recurring one number in XXXX. the related in sales XXXX. awareness expansion expansion pre-launch end increases the force The expense of three, were legal and $XX.X items, SG&A of of the is disease R&D to incurred in by expenses; personnel compared lastly, additions staff offset stock-based Spectrum to expiration partially throughout our company. XXXX June related to These initiatives; would expenses in the expenses increases non-cash expenses of and million. million $XX Excluding million to million primarily increase

items, compensation to the stock-based be XXXX million expense is $XX.X was million. SG&A $XX million. other XXXX non-recurring range Excluding in to expense and expected non-cash SG&A $XX of and

non-recurring other expense Excluding $XX range stock-based compensation and million. million non-cash XXXX be SG&A in for of $XX would items, and to the

full These XXXX federal was employee recorded the to benefit a XXXX. which asset provision impact carried of favorable tax that net had recently a of in tax impacted the was federal Eagle’s by of allowance against exercises. credits the tax net of to by were tax company an million The impact of the to been partially expense option XXXX compared offset impacts and For favorably tax adjustment $XX anticipate in tax expense the positively deferred the reflect $XX of reversal legislation. We by tax impact expense in stock The evaluation beginning million impacted year, recognition R&D tax deferred company’s reform tax will reform in assets. enacted XXXX. net Eagle’s

per share December net tax XXXX. effective December of to share XXXX XX, $X.XX per of above. net million income or for ended estimate $X.XX $X.XX diluted combined ended factors XX%. $XX basic million $XX.X $X.XX of $X.XX XXXX XXXX and we $XX.X Net share basic $X.XX per basic income per for $XX.X the diluted share $X.XX million diluted a XXXX, of was as the a compared and and per million Adjusted or discussed per for to compared income was non-GAAP as XX, income For result rate in year or and basic or per year $X.XX net non-GAAP diluted adjusted per

non-GAAP of net see comparable press tables of to income most reconciliation full financial GAAP a For today’s the measures, the please at end the release.

million reflecting for earned Our considering the noteworthy in XXXX adjusted to $XX.X XXXX. was only in $XX is particularly milestones during and $XX.X million of million that $XX million in EBITDA increase XXXX an during XX% and compared XXXX milestones company over

flow. Our EBITDA converts cash into efficiently

during from the example we was authorized operating For completed program. XXXX. part XXXX, Through XX, receivable cash third million program XXXX, net $XXX in flow the XXXX as increase by quarter activities, by the in the our in $X.X repurchases we of had December excluding purchased share million. $XX XXXX, in a In million accounts expanded million expanded Board our $XX and of

call $XXX.X XXXX, turn had $XX.X outstanding back As company of and million $XX that, The accounts XX, due Scott. Teva. December debt. will million and in million to of the net the cash in had which I company equivalents $XX.X from With was cash million receivable, in a over

Scott Tarriff

XXXX year. adequately filing work an importantly, track the be with assets been Thanks, multiple filings market continue With Pete. these to year There another QX half of filed now conditions. addressed. and two for To high filing on additional of which in very our NDA have revenue multiple opportunities. this first conditions to to Eagle of Ryanodex portfolio randomized, second are significant remains treat in XXXX trial planned need and not the potential potential clinical with our the back the fulvestrant ANDA early to our could an we a we has well hypothermic with recap, fully year the we believe for treat We in for

likely exertion by clinical are will remained and heat FDA for the hopefully ongoing FDA agreement stroke our discussions work of our a We our that and with plan with encouraged and allow important the to your you these ahead. go open support Ryanodex advance With for that, to questions. us thank for continued please like I to call occasions. Operator, continue and would for

Operator

Instructions] [Operator first question Piper take Amsellem We will with Jaffray. ahead. our from Please go David

David Amsellem

Thanks.

So, just a couple.

First the you design is outcome the and And the question on just to surprised number these details, thinking litigated that’s just what what to a study, there about stays? the human were the on be And the you more that’s we particularly Ryanodex just if help forward primary going path be had Thanks. you the just that, thinking talked needs of know you but so same be that? prior through much on filers, not that us do then in we and I walk agency So ANDA’s? one. exposures And about ANDA regarding EHS, number measures? Hajj products understanding providing my you that to the that is something else kind understand agreed wanting in have study? two, out it as expect are this of it’s study, be opportunity XX can that the should FDA is be confirm realistically talking or way of about, month we to the have here other multiple of Are could

Scott Tarriff

the Thanks David. asking for question. Hey, thanks

Okay, lot. that’s a

‘XX. what the did at Let’s design in beginning, very to similar we is start so the Ryanodex

standard receive and no, fluids Are as once So the two we Coma is when what in half which get no versus plus primary had is in endpoint Glasgow standard again our Ryanodex. with so Scale, we groups receive you right will have past. say, since is difference. is care a we of more the care of will the It’s I day, care, data I look would to it, essence identical at other conversations of the compared basically think randomized, surprised Ryanodex. there to end the last desire time, July? and will standard to for The what down half cooling of

going well? are before. we question the So, we and essentially back study similarly had conduct as to Does answer that designed go

David Amsellem

a and agency’s thinking, with the just sense into Yes. I a just not Coma comfort a get to get measure? wanted more better guess, exposures – of I generally their as human to am this of going was human the window Scale Glasgow question primary level outcome

Scott Tarriff

I quite – look the fully, answer know don’t study the think say all what will that of David, the take the a sense I of similar study we to of the Well, is bit did of what pretty we is to outcome that but design accomplishment I can before.

weren’t any there changes. So, significant major

the randomizing primary We standard are Ryanodex same care using patients, still and endpoints. versus of

think So, I we as comes said, what it more warming had. I down than to just

than I with we ANDA’s, been X really yes, after have on months think that ahead. it’s this the nothing discussing them go that or then And CRL. more complicated since the X

David Amsellem

ahead on ANDA’s? the go sorry Yes,

Scott Tarriff

Yes.

So on $XXX the ANDA’s million their sales right. mentioned growing, products Combined, have in there are are we past. two as and the

and each and collective there be product, competitor is litigated so one it’s likely markets there market. not. you Each These two, today, so only only $X.X two will a of markets are where player, one in are call billion. a there only will one or combined So, markets growing is these of whatever branded the is a it branded generic the two want one competitor

We these but the the get other until there hard both, we way deeper there we it, is markets. know, filers, other in know and maybe current no our accepted for in product filers but it’s no players only two is a are As little into tell. to don’t to

David Amsellem

Okay, thank you.

Scott Tarriff

You are welcome. very

Operator

Capital take go RBC We from next will Randall our Markets. ahead. question Stanicky with Please

Randall Stanicky

Thanks, Great. Scott.

clear on discussed was that just Hajj a to of is requirement So, is monitoring the this right? no couple. EHS, the first XX-hour with – shell, study, one current that there be context Number trial follow-up is is in respect to there just the this

Scott Tarriff

correct. That’s

Randall Stanicky

the walk about just and you do can you about strategy for path evolved forward the then through that, but talked DIH, comfortable and And how good. I little, or think has a thinking how have I think but Okay, time on could we we get what’s opportunity or we that current there? next that data see to XXXX, market emerge XXXX do your in milestones points

Scott Tarriff

Yes.

in through we Ryanodex possibilities both Randall, for of What right. there states, do know a is think, I thinking all going is are need real still we that Ryanodex the disease forward. for

As community of disease exactly it, we at with as interesting, and specifically what of that’s to there looking believe that’s all we look medical all by the investors, this states diseases essentially we DIH, we between and the yet the that really at and differences – have what is that is others we research the not caused are world the what around difference we define calcium overload. it’s that DIH, that And these patients at in as very us diseases. being number discussed the in the look EHS are believes discern between done to hard

if for if heat having don’t their that exertional of we that someone XXX you exertional which stroke, of instance, you have in and some amphetamines is they stroke, also heat call but suspect traces know will system. we degrees So, confusion, have

and to we to product early so and the confident very look forward Hajj to on we review exertional back heat for now in their market time. depending stroke, go and continue filed on continue August year And in this next path now to we year getting the as research, that feel hopefully

monitor We thoughts the our to amphetamine will process. about continue

with them We in now the are Ryanodex, our to be back go weeks. over report we will eventually that product, both and will here product we just – used will clear next and we decide how forward see the

Randall Stanicky

about as path broader a on me market reach indication, pool EHS with just and clear, follow-up, so And blurring forward, is of that a you right? let Okay. to with idea the some patient could label just for be is broad get to that think

Scott Tarriff

necessarily. Not

We able our trial we clinical need be have some respond better. time think open. I to to do – Let’s

as We hot lot we collect going going to soon festivals up label. these are that how to we where a late coming need are music we to handle subjects have March, look we the as and and a at some Clearly, of we hyperthermia, continue have weather we release the of of to think in see exertional these disease calcium product then on will again they malignant more amphetamines symptoms detail state in and market which the stroke have the people that both to back once heat the as report same predispose treats and in take to who we weeks the progress.

Randall Stanicky

sneak progressing. Okay. down is more on a can Obviously, Biologics pipeline Can opportunity and I you and million get are is clearly of just biologic one. a $XX we hard but road now the progress terms from Eagle have in opportunity, one pipeline? the the invested or monitor sense big that the get you in what comfortable things outside it’s to going a have big there How

Scott Tarriff

Yes.

with business we Randall how report regularly. biologics the will dealing are we on So,

year acquisition. what flow of this news this see will about two very to – Eagle You out course there are doing. important coming aspects is technology we the over of This

in be of many benefit reduction patients can in biologics First, that shareholders. the and ways technology so will our viscosity used

where we help ability their situations of the number this time seeing them? technology with about discussions We branded does viscosity. are the have companies What first with do injections. that biologics are having reducing to for We lower

discussed a great on taking those the to them as a that subcu subcu going And injections multiple biosimilars at giving injections also in chance have can also in turning into to We products to drugs. way how individuals biosimilars to a discussions these biosimilar up their some length and competition is we the route. IV IV past biosimilar We have subcu to have opportunities leg we the a are having of market take reduced go in about the and and drugs a the take space. number improve to biosimilars

companies branded on molecules and and on in-house to to it and have a animal to data forward our companies. take then proof-of-concept We biosimilar tox continue own work for and data

pleased capability So bide milestone are the far, and progress to that leg those current the and a we be now today that are in we the we reason later we of significant we stages Eagle’s the very this start making to about with of the products to believe technology pipeline. and decided that down get spoke this obligations we growth as will

are X years X and will these start and value products come deals the so way going or from this a in the to but starting to to hopefully the payments so year forward, as see that will now, And forth bring market company industry, into Very, we then we Cambridge, to place near-term. made have our milestone is we pleased since this just is excited taking we will more acquisition, couldn’t the be what about very I And second refer what it. in that, a for now just is do which ground remarkable to sign business.

consulting talented frankly, us very with pipeline PhDs the they helped are with been most MIT. and We wonderful. Drs. Langer our us our we quite helping people us portfolio. our and fulvestrant, and they are the minds version at access Ryanodex, having have helping helping some in and industry IM has us And have have about of with some just with and very to entire talented regularly They us Klibanov are them brilliant

acquisition thrilled this start of about And well. out the as to significant so the in will And sit it we progresses are am come. with coming to as I here we years year that you will we more this And value acquisition. hear confident very as see today,

Randall Stanicky

Scott. Thanks, Okay.

Scott Tarriff

Randall. you, Thank

Operator

Tim William ahead. Please go [Operator next Lugo to with go Instructions] Blair. We will

Tim Lugo

the Thanks question. for taking

You assets at, on thoughts your What you you on business pipeline? already course balance some you current have debt at assets? mentioned earlier and commentary sized looking have are development? the sheet. your of you already decent pretty balance What elaborate may are in sheet commercial you in a Are XXXX, type looking your of

Pete Meyers

for that we balance presence Tim. obvious the our position is infrastructure. environment our sheet given was the the at and in are given Thanks What given Pete. moment to is hospital referring our question, is This and Scott somewhat asset gatherer

have And a so we lot do opportunities. of

spoke, stock at last you the And it levels it’s on as we buying is we compete quite hurdle mentioned rate because needs with high better these to high. quite compelling. which candidly when As is know

to in would from late infrastructure fit are the a expected at our way continue our hope pipeline we and So we our XXXX, operating perspective. an in have commercialized. hands develops assets look stage candidly that if we to But

Tim Lugo

are Fair $XX from in XXXX you that partner XXXX your range you range are there any underlying to in hearing regarding either pretty enough. you vary market? $XX were to from royalties are tied within reasons Bendeka that are million quarterly, that going And contractually million the this or

Scott Tarriff

Yes.

So did think well Tim ‘XX. I bendamustine market the in rather

great the marketing truly a competitors speaking a job into team Its end we excellent coming the Teva been very be the think positioning the of very significant. Bendamustine have day years happens really has Its that been is over important, price the very patients other point to bendamustine against profile safety Bendamustine. performed really well very just positive. standpoint at market. on the I did trust. And a from about

far the provided volume, for Bendamustine that of in recall year that are by little that range slightly, Teva early our earlier at time all a was very part of volume range end the on I the just they so came down And ‘XX the if upper into we very the the I that projections. surprised think bit succeeding

till in don’t very that NHL do and main see And end on not product time that to stay going to contract. the believe the we the Bendamustine is be CLL I well have of a so the the and any reason

I pleased And should think we what are so very be. with have we done, they all

And a job. so now great they doing yes are

Tim Lugo

provide study that is do Okay. hope next you for round you will there And the there? will number a to up be this study, the for next will Hajj targeting be patient or

Scott Tarriff

an year standpoint not remember and the to stampede. have until would first that over a a day in the speaking say happened. XX that from run and have we date run to study can’t the XXX the doing Tim, about We we recruiting about patients odd because Hajj our hard it’s hang patients, of stampede pace patients quarter It’s and it’s and we certain in thought I the around we get will last to keep to days. of number four that got until team

say XX pleased. it’s get would of would our XX around very be control. we time would out this XX – I we or patients So if But

to the should what a way, run out meet more event to ‘XX, to we ‘XX same study do. if did hope occur again to in take do that last hopefully will we the have it out enough subjects just way clean We work not the same we time, year unusual did is than a ‘XX or

Tim Lugo

question. the Understood. Thanks for

Scott Tarriff

You’re welcome.

Operator

any floor closing further at Scott I will It this does we for appear or have remarks. no return time. questions Tarriff additional the to

Scott Tarriff

history pain maybe largest off label of for randomization worldwide. Thank think on this that did have item that our largest ml one over you, completed will X focus last is the fulvestrant, fact that’s and before everybody everyone. or potentially taking going that in just delivered all would reduce call we the The be I drugs we may been remind $X XXX the be to just what we a we warning the And painful product the gone already billion opportunity J-code opportunity. we in injections is ml we the eliminated I the that the XX to one that not just about from oncology, that we most the company is unique the subjects Bendeka in the of what from two fact to have if of drug have to the is the that that one with to is particular have break on

Now, product the hear think that as summer patients. to to that opportunity pass we us they will all we value if company fulvestrant market could patients trial, and in we over is focused then we the will to investors very for few by enrolled results. those of and and do study. we the we with And bring And I that have not soon clinical to the but we the get results the think mid-next from and next Obviously, significant. Eagle the as around time. weeks XXX – year you again be that can only will in as we have on months, speak wait have get But for we

made product we have quickly XXX hope do. the are And potentially what go. about as a we as safer if do thrilled just But accomplishment we how We in we did. we see we randomizing let’s subjects and those having major dosing

next asset like Thank see forward weeks. just Now of we look to that, move the for you. all just I to to results the would hopefully with are you very of everyone speaking thank you appreciate excited number And and over forward. to say and the attending. I

Operator

for today’s conclude will Thanks And this your participation. program.

now a day. disconnect. may Have You great

Eagle Pharmaceuticals (EGRX) 26 Feb 182017 Q4 Earnings call transcript