EGRX - Earnings call transcript Q1 2020 | Eagle Pharmaceuticals, Inc.

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Operator

Good morning, and welcome to today's program. My name is Keith, and I'll be your conference operator. At this time, I'd like to welcome everyone to Eagle Pharmaceuticals First Quarter 2020 Earnings Results Conference Call. All lines will be placed on mute to prevent any background noise. After the speakers remarks there will be a question and answer period. Instructions] [Operator

Wilson, this is being turn now over Ms. reminder, XX, today, the call Eagle to It for XXXX. my Lisa conference a go recorded is May floor Pharmaceuticals. As Please Relations ahead. Investor pleasure to

Lisa Wilson

Welcome call Keith. first Pharmaceuticals Executive and Scott are Lisa Eagle's Eagle This Pharmaceuticals. With Chief quarter for Tarriff; Pete Investor Chief Relations to Eagle call. Meyers. Financial me is you, Thank earnings Wilson, on Officer, today's Officer,

press a release, section months be a financial this This results XXXX. eagleus.com. three morning, issued the of the can the detailing ended at website, This for Company Investors call Eagle through accessed press webcast XX, the March release and of

statements expectation, statements today's a by Company's made that Securities express Before and forecast, future be projection, call considered on forward-looking as to get we I any would conference belief, started, or performance may the like Litigation events defined intent anticipation future Reform regarding Act. Private that remind the everyone

These those statements forward-looking and future uncertainties, SEC. filings forward-looking based and the Eagle guarantees to not may morning's risks involve of projected available including management with information as the performance. those forward-looking in release Pharmaceuticals Actual in and today this Such press materially our statements of results differ are noted on are from statements.

shortly except Eagle Pharmaceuticals available specifically of required completion by as update statements, A disclaims obligation law. replay forward-looking or any be after intent this these telephone will to call.

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

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

the please Company's filings. releases recent SEC most reference press and to So,

call Eagle's the to Scott with over turn CEO, Tarriff. I'll that, And

Scott Tarriff

you, thank morning everyone. and Lisa good Well,

earnings that short is call. different ago on the begin a just last two place our Let months it what world was acknowledging very me by from

must had COVID-XX has we live of lot We've conduct. of lives us. had impact good a had way news obviously, and quarter. way on all The a a profound we we very our the lately,

the year And favorable a on potential affirmation have good ruling, lot patent fulvestrant. this with to still news had at to ODE We on we vasopressin market had going BENDEKA it and bring this year. a and we've

to have We our five with brain expecting damage date PEMFEXY, PDUFA we exposure remarkable and in encology to collaboration next that still We product the not still their file early next EHS, launches SM-XX, nerve secondary for can Tyme our and Technologies July this year we fulvestrant, EHS in if lineup. expect have than three agent finally year. vasopressin, years; truly for a

other injury On chemical initiatives. brain dantrolene, a all our for top projects which for of total are XX entity of remaining EA-XXX new syndrome, a for is this, radiation traumatic and Alzheimer's of acute there key

shakes last total to all the of it gross on we revenue generate all the XXXX. a even will of the of revenue that, With in for in history as the XXXX we way aggregate absence that in be hope, said RYANODEX expansion best in RYANODEX of out we terms and turn aggregate exceed expect for out earnings balance Eagle's profit. the revenue If XXXX year call, could I label our

advance as generating I'll of non-GAAP had EBITDA We let be continue The on diluted balance active very great company XXXX the board. will across EPS $XX.X the but programs a touch the we of quarter. and all to with for start $X.XX. million me numerous this, of of quarter first

of we Our pipeline advance underserved share most legal million the to therapeutic including to best strong position our talent capital QX and our areas. per or us allows scientific to $XX expense. some invested apply $X.XX challenging address

estrogen with breast receptor off leading shared business, ecology cancer. quarter, our that we EA-XXX Last with programs. refining for start positive were fulvestrant advanced our candidate me Let our we product

our last announced internal met we and objectives. week our conducted pilot work we have As

to requesting of And cancer. potential HR-positive be on a forward are. will the you the FDA meeting We for updating this with next best-in-class to treatment determine progress advanced look we what breast steps

me Let to Japanese expectation SymBio second bendamustine on XXXX. of and partner regulatory their an contributed with approval somewhat the in trial briefly file half in the touch clinical completed of also portfolio, to oncology rapid SymBio, another infusion our overlooked for our important Japan NDA product. licensing obtaining enrollment intends

also NDA SymBio for an the September, expected ready-to-dilute filed approval with an product year. bendamustine Last this later

on royalties entitled could payment to approval to XXXml million of the roughly be a then you with launching starting $X these recall and bag. this year is for $XX of bag and per $XX the SymBio meaningful, million As XXml either milestone NDAs first Eagle may the year million

products to research value before the boost weeks the our meaning bendamustine XXXX. active assets continue protection in valid, infringement pipelines turning important now our and BENDEKA, to And the ANDA defendants their programs. court This of two launching enable case in upheld and is ago claims will be from patent us our enjoined investing the

had appellate for confirming we victory an addition, court BENDEKA. In exclusivity orphan drug

this U.S. growth decision a orphan unless our scope clinically research versions driver before to active of December Eagle's our As BENDEKA. FDA's generic forward. and pipeline including regarding another drug TREANDA supporting launch of bendamustine products as We may the in going superior X, of exclusivity see result no the XXXX

oncology to to therapeutic through In January, late also a novel a collaboration portfolio stage we cancers. advance difficult with Technologies at SM-XX, strategic added aimed treat Tyme to our

Our gives our increase common shares of million to with certain along SM-XX, investment $XX a opportunity the under XX circumstance. million Tyme's investment co-promotion us as rate stock, on initial as of well

Eagle's promotion providing $XXX forward for further under We payout on the any Tyme million. time agreement look to collaboration. rights may at also this updates

with we QX PEMFEXY Lilly. FDA in Finally, settlement from received final for following our approval

us. significant With of of XXXX uncapped represents initial for X, February market period three-week supply by opportunity an April an entry on entry launch followed X, ALIMTA a on this another

to allow noted for this month. COVID have starting Eagle begin to the a was court strong to to been and yet delayed a the critical which summary the not a set. position. has we trial non-infringement requesting to care file Due new now on has believe Its been trial our we of last pandemic date Turning scheduled letter with agreed call vasopressin. business judgment The our

on Our and letter judgment be date [briefed] was May with the court XX letter and a consideration April parts we May and have on which joint parties for responsive is submitted may under further at trial requests. XXth request the currently was This status summary call submitted the Xth.

Vasopressin is a us. to important very product

regulatory having ANDA per units first the an Vasostrict one a XX exclusivity. to XXX-day referencing are file We and ml anticipate

court opportunity. await the we will advantage guidance receive product further being to anticipate year this from market the time this that approval tentative of take we later and in As launch

to Now RYANODEX. let's turn

our have up coming July EHS We X. date on PDUFA

have to this expect will nerve to year be and damage thereafter. to start filed our secondary of brain agent We last exposure what shortly for study the it treatment

still an year-end We we by year. NDA then if next submit are hopeful indication can early for this not

RYANODEX the Our treat University Hospital collaboration the injury animal to of somewhat environment. of nicely, slowly COVID in brain traumatic are due of more albeit current for studies progressing North Shore

of is reduce laboratory the the for pandemic, inhibited Our for the COVID-XX to the COVID-XX cycle of potential of its life injection RYANODEX the impact the newest trolled that we in tests. with virus growth suspension vitro announced SARS-CoV-X, virus. program In mid-April causing RYANODEX

and Medical new University to report application clinical efficacy an to back Hackensack with will partnership a FDA with Phase Center, with in trial drug evaluate of shortly we trial patients. our We're for proposed in have discuss the meeting RYANODEX that investigational meeting. submitted II following Working infected FDA

country, the As I our outset, the unprecedented industry. world for times and for our at mentioned these for are

is As inflection you certainly points for important can we're about our excited near-term see an time Eagle multiple this with prospects. and

to turn Pete? first the over call to Pete discuss our quarter I'll that, With financials.

Pete Meyers

In expiry partially RYANODEX million Product a deliveries. $XX in decrease offset historically compared Scott. you, $X.X first increased And the pass-through million sales a BENDEKA timing Thank XXXX, of to sales during million total a million totaling due by due in in quarter of $X.X $X by to to million quarter driven first product increase XXXX. Teva to revenue by sales XXXX, $XX.X in increase sales $X.X the BELRAPZO million large primarily in cycle. year-over-year, inventory $XX.X QX the QX, $XX.X to million million compared was of

quarter, on end-users share market shipments revenues sales product in $X.X to Based quarter. $X.X whole Eagle's by XXXX. first for of BELRAPZO U.S. of were million to bendamustine first million the market on the compared Eagle sales. wholesaler data, in BELRAPZO shipments X% was recognizes to QX Eagle of IMS bendamustine

bendamustine second market quarter Social distancing move trend through administered this of many in wake the that the care has April. abating of oncology this impact and of we pandemic induced We measures quarter. patients observed providers health in physician- late in first and the utilization we COVID-XX on the impact as have resulted Beginning shifting continued products. and the priorities through anticipate

million, product RYANODEX XXXX. in sales to QX of by million quarter Orders RYANODEX product primarily cyclical, are First expert. driven for $XX.X were $X compared

quarter expiries launch. greatest RYANODEX its XXXX First of the number since saw over of

for full and by the to the continue the particularly the sales for and year. precipitated effort a in to COVID-XX challenges the product record customers commercial Despite current our accessing expect pandemic second potential we quarter,

Given the high-water cycles the quarter XXXX for in of anticipate expiries the first QX, that year. the be we mark will

quarter. $XX.X to XXXX RYANODEX royalty $XX.X in units. XX% compared had a prior QX, market year share million normalizes first quarter of a The dantrolene was injection revenue million

$XX product. to remain our where when a October months from XXXX BENDEKA $XX at X, royalties for agreement quarter to compared life will XXXX. of XXXX Teva of X, XX% royalty royalties million the to the rate first the amended XX% increase license were XX% following continues the in XX October until will for million and rate receive on the Eagle following

first in the driven gross royalty partner compared quarter an lower the sales, sales quarter on increase quarter of to marketing period XX% BENDEKA XXXX which no BENDEKA product in profits the XXXX, margin by Expansion of in and margin XX% as was Gross in XXXX. first revenue. RYANODEX in earns in the was increase our during the Eagle of to first

were million in a is quarter expenses. and year-over-year prior $X.X On payroll A increase R&D year front, expense expenses to on the attributable the fulvestrant first $X.X to largely for million quarter. spending compared

first non there in Excluding stock-based quarter with compensation items and million. $X.X other R&D non-cash and recurring the expense

$XX million guidance the our EA-XXX the radiation to non-GAAP pilot reiterating expense as on RYANODEX and the in will anticipated expense XXXX. trials compared XXXX nerve million initiatives; basis XXXX for to are acute $XX one, R&D COVID-XX. CMC includes be treatment The of and million trial We exposure, two R&D agent $XX a that syndrome

up Three, EA-XXX PEMFEXY. and EHS; RYANODEX Four, six, University studies patient at IND and CMC HealthSystem. vasopressin and additional and and Pennsylvania preparedness advocacy the University launch pre-clinical EA-XXX for toxicology work NorthShore activities. of scale regulatory enabling development Five, for

$XX.X of to sales compared SG&A in quarter spend, account expense million legal well million for to the to quarter stock-based spend, XXXX increased Tyme External and charge the external collaboration related $X.X for XXXX. the most as first a increase. marketing the year-over-year as first $XX.X of million compensations,

Including and stock-based quarter million. XXXX non-cash expense compensation non-recurring items $XX.X and was first other SG&A

XXXX are will basis that non-GAAP XXXX. an million $XX guidance to million $XX We as SG&A reiterating expense $XX compared on our in to million be

The If legal spend. payroll year-over-year EHS accordingly. increase largely higher is and by expansion is partially sales marketing guidance external we XXXX operating label to the will offset expense revisit RYANODEX approved attributable lower

year per Net to diluted loss $X.XX period. $X.XX share or income prior for net basic quarter $X.XX in the million or was million and compared $X share per and the basic diluted per of first $X.X

quarter compared per Adjusted to quarter. and non-GAAP diluted year per net or prior for $X $XX.X XXXX diluted million of the the income in per first $X.XX $XX.X non-GAAP basic a $X.XX was $X.XX net adjusted share per share and income basic or million

income the of comparable at the non-GAAP For please end our to net press of measures, financial reconciliation the release. see GAAP most tables

the for million quarter Our compared was first [ph] XXXX $XX.X in $XX.X prior year to EBITDA million quarter. the of dollars

revolver. $XXX due of the net XX, Teva. million of including million had in outstanding cash company $XX which had equivalents XXXX March accounts $XXX in million million Company our As from and on in was and drawn debt receivable, cash $XXX million $XX.X

March had revolver. the has XX, net Since receivables million. as Therefore the company March of $XXX.X XX, cash XXXX of the $XXX plus repaid company million

repurchased part of million From of first as we XXXX we million stock have purchased $XXX a our program. The quarter $X March stock. share repurchase XX, of common XXXX, million XXXX a through August $XXX.X of Eagle's common

go please operator for that, With the line and open questions. ahead

Operator

go Please [Operator Instructions] Lugo Tim today ahead. Blair. go first We'll William to with

Your line is open.

Tim Lugo

what use are BENDEKA, macro few you for you oncology the mentioned to broadly question. hospital-based own products next you're are just And your a of the hearing chemotherapy just the availability QX? Scott in times. Can maybe Thanks QX, and patients, from over quarter-to-quarter of just comments broader kind maybe environment these of distributors kind taking as context hospital of expecting and given sequentially a COVID quarters environment given you unprecedented are or your outline expecting you what maybe for what

Scott Tarriff

Sure. Tim. with our COO Pernock, call Chief also the Adrian also in is Officer. Medical Hepner, you, that and Thank David I remind us everyone our Dr. President today and

can add maybe want the chat bit seems Pete we're quarters products the have. relatively and a we oncology. of of bit to far then thus Tim, that a David what Pete business you so, about And lineup about seeing because you speaking little in But our pretty healthy something? little But

Pete Meyers

Hi, Yes. Tim. morning. Good

that diminution note On fusions. there we is the revenue April in in people some side did

to we revenue our product impacted revenue wholesalers. Of we when course, not yet that ship because has booked

an we we the abate that through second and So quarter. eye and hope that trend that move will expect keeping we're on as

Tim Lugo

on are more, maybe -- some that which side expense obviously the April little areas where of could which a there control offset And issue? you bit

Pete Meyers

Well, is we as business fundamentally we look quarters. think through our healthy earlier. is The and R&D we linear business mentioned not is as SG&A the our

noting cost just that terms are are R&D XXXX look the the spend with which of we external be and as we it in clinical healthy year so you'll for is believe essentially fundamentally guidance was on spend. comfortable year timing business last of of note But end heavier structure. our maintaining we that the R&D our the we will back As is at that

Tim Lugo

David you did add want And to that. to Understand.

David Pernock

Yes. I agree what with Pete Basically said.

states in we to the more expect April was every of start back oncology across expect in as that that downturn I seen, to is situation. normal reopen. experiencing that a month more to visits slight just We the of return think will and company because But begin that

situations be think emergency situation. in all-in-all where expanded there. in should of the to outside more because shape were rooms setting be COVID RYANODEX, to good in will ordering basically RYANODEX So have I a hospitals -- we we Relative seen typical their particular --

Oftentimes what of and there's do gas. requires happens to Therefore, volatile is emergency MH. need intubation, that room the an might risk oftentimes,

probably those additional Once And in will delayed occur at lot surgeries well. so improve likely of surge some surgery we've think, that. a we're because seen of stocking seen We've the that. and will end types basically that surgery ambulatory in So, of general, due do in in centers as probably they'll were what huge to the happen, day. centers the terms elective all-in-all we to kind COVID. of so things hoping surgeries and see out everything of of balance the

Tim Lugo

And you. one maybe Scott, question. Thank last

be what to Can few over success? productivity on kind The launches economics the so. wise five most has are Eagle? five likely just most term. launches the for near mentioned in highly years or will intermediate for kind which let's struggled of pipeline And to opinions You of your kind call it, of you the past, outline maybe the those meaningful

Scott Tarriff

Sure. of feel our But good we hard Tim, project. about to this. some predict it's

patients. have a just have a really believe degree important pretty approval. in you litigation. whole obviously time. move that a position fulvestrant exciting say number us terms we with wind of our look we PEMFEXY, to to of as they have have -- receiving that think case vasopressin, could and tentative population, valuable we In postmenopausal the significant we important paradigm product And patient and the levels. we there certitude I high very a we if down breast in that that Lilly an then we product. metastatic as we're And at of We to our settlement of cancer since think And confident very be the that final for the if change we're that's line, up are, will I be get approval could able very feel something and that you is on going where feel excellent a

see pilot our study And in we're what we very far encouraged. so

to and There's coming reason a animal model that beyond that of we state to couple the date to no And that's PDUFA in the are. in one and the possibility think world nerve up another that so day as the concerned other think we The will be then agents state world run the And who then Who And living a is model. the wants and to a agent up would that I U.S. have that Tim country's run believe way could preparing a pandemic that we significant strong won't it. months. get you nerve well. be that similar a attack of coming there of pretty previously, forward models product. we've EHS And thought we'd on the product could market. next But the think be soil. about be

where but we'll chance. we all the Maybe COVID good see projects future. we're XX working we typical feel come industry, our to have So is market, they in don't think that leads our about all maybe We on us. a good

Tim Lugo

Thank you the for for my the best team. color and

Scott Tarriff

Thank you.

Operator

Our Capital go Stanicky Randall Markets. Please with from is RBC next question ahead.

Dan Busby

good on is Hey, few morning. questions. This Dan I've Randall. a got for Busby

since And about focused EHS. launch on on approval especially that in still talk pandemic? launch July? how the First see do COVID-XX hospitals you are strategy Can affecting potentially your you the

Scott Tarriff

Yes. Thank you, Dan.

up coming on So EHS in launch the PDUFA -- July. date

done. when then the get a a into tandem. to year, a that of agents into right, be the COVID product you there's in well programs; and that be lot -- that's have to market, going COVID as next have If the for look of lot event And eventually You're we movement. potential you nerve RYANODEX two needs come EHS obviously, to work at in products the

make now between want that about how date. in the EHS of time, handling any launch as summer As and David, comments the we're launch the to potential far you

David Pernock

sure. Yes,

very question, basically So a we understand. good

So is reasons COVID lot picture, want awful and as take it EHS back turns actually to you RYANODEX, look imagine. we going big largely, what out to to step approved of an a a be be could -- the and positive when as hospitals basically, hope. at for There's to stock you

would very people we we potentially we big surge try serve orders expect can. as in So many to a as as

emergency treating mind. overall the very I treatments regarding point room there keep So are current the a is unmet physicians think and to important in inadequacies the of interest level EHS, need the be remains -- of in granular from that to that's On EHS because high available.

we're think to we feel So, major still need. going a

as not know. much there's Obviously, on sports we all going as

So be basically of a little and to it'll proceed of basically will less normal We're going little bit impact hopefully but there that to return little usual. as at some point, -- there. some it business is happening less

that to most contact will be we'll and emergency etcetera sales expect successful variety build We've able to podcast conventions, through basically room particular be be We physicians methods. on different physicians to planning specialty the of room, for room emergency emergency our the vehicle a of particularly work. found in force attending

because know more there's Pete we're had you share we the expected think with a we -- MH share, for to about grow and market XX% -- to this, still combined have us under first a but we market it RYANODEX as as as value stock open the overall for our business, need. to right?. going while on as excited positive RYANODEX. as need very And for very that impact the Because our quarter We're of the hospitals proposition huge a we've at well. unmet indications grows, for MH said, We even up we think been working a where as could it, market remains a situation big again, with a

Dan Busby

on then And one helpful. That's Great. vasopressin.

that reach the position any a you you receive that given before say a places you've decision could tentative you presumably more do approval court decision Is launch October, and risk. Let's thought doesn't before to? then, but in where at a

Scott Tarriff

it. isn't scenario, interesting an That's

timing I court the probably in this that be situation. I expected to well the Nobody to going is think believe aware happen, of is what's pandemic. again very

this weeks with having of a at our delaying and up is be see too things the see decide, couple delayed trial date depending that if trial I it get if judgment a around difficult would Let's review our in can to a happens the decision put then motions. much. the And we up next particularly case gets of summary don't things. that's to least court what together on think they XX without wind to month when

there's the so you whole to And chance good a year. look the when of at situation, before think still this we market getting pretty

that's we're So what for. planning

Dan Busby

Thank Okay. you.

Operator

go next go We'll Cantor to Folkes Instructions] Fitzgerald. of Brandon ahead. Please [Operator

Brandon Folkes

the will would then you about kicking paradigm coming generic think treatment of additional and secondly, of in judgment BELRAPZO coming thinking of taking when runs here you allocation BENDEKA three capital for Thanks you business I’ve BELRAPZO my RYANODEX in share And for Should Thank for just market launches your maybe be back. RYANODEX over how the and in think patients maybe talk last to are questions. can but should light COVID, in? the terms TREANDA years? buyback, you ODE Hi. week just a thinking be got out? saw -- potential on we we lastly, Maybe you. we also late slay developments targeting? And about where elaborate can about the I the

Scott Tarriff

Brandon. Thanks,

in take me those Let order.

for moment. to to the But business of we capital I'll us. development turn be financially On interest buyback that things, Pete to and see how over continues a

market. Having and generating these having this we're our said some cash outline the works There's organic balance think we than in if shape we the especially that to that, great growth today products we're we start of many sheet will. projects. to if outlined get we with more believe we As nothing we efficient as have earlier of so and internal it much

way. business growth believe with products still we find move and the poised organic forward the licensing both And our by opportunity to if so that along we're I right in

and ways And takes so in we do want where to the we'll grow it both see us. company. it We'll

for believe and a then right of the we And over of on then December look we'll things. at terms generic have and I add Pete question. to generic have of In in for the the But turn COVID right. you're to BELRAPZO it over things competitors XXXX to the TREANDA. anything think that, to terms competitor way BELRAPZO you I want side now, capital BELRAPZO, Adrian with same time in Pete of I'll

Pete Meyers

down just Well, our March since have balance that revolver. did repaid on the $XXX use million than manifest debt revolver draw disruption we in that are time considerable in you've our we March. We did the At larger our note I'm credit March XX that at I as accompanied we would sure market was the equities as to by cash and sheet be. credit the observed XX Brandon, certainly balances markets noticed were the drawdown dramatically. and in spreads the in expanding was

so a through liquidity did against XX. hedge we the to constraints, crisis, draw the the having And revolver last for potential on lived March as decide interbank

said, revolver existing is revolver I our we balance As have zero. on since in today repaid and the the so full

$XXX still for loan have million. term outstanding we course the Of

the to have position net same end continue know And March. of we so, cash of And net we essentially a the as course generate cash. position cash you at had we

believe we We done sheet recently opportunistically do development we is that of transaction. the external a as balance real to so, the case flexibility competitive the back asset. the from to And in intend And stock. perspective we have we've intend business buy Tyme pursue

Scott Tarriff

in fit explore you, to summary. if on to successful the COVID, patient initially, we that I'll on the expect RYANODEX population we the may the then of Thank treatment for it paradigm And and turn think brief a Adrian where are over that Pete. for we

Adrian Hepner

the the life Thank needs virus you. addition of to have standard and our another. get ability impact be that the Based of replicate needs of RYANODEX care. We envision research, cell to we maintain calcium that of action mechanism to cycle. of especially that of the as and to to understand on required to RYANODEX virus from impacting the an RYANODEX of some one Because the release to

With underlying said, depending RYANODEX an of As or on of therapeutic depending evolve the the also care viral that anticipate conditions. require we stage know a of on hopefully, impacting patients the to multiple I [eliminating] that, helps continues addition lifecycle load. the as addition approaches to these RYANODEX establish and we to and virus which be standard

Scott Tarriff

Brandon, that well. Thank answer you, questions your Adrian. did

Brandon Folkes

And you very much. Yes, well. congratulations Thank all process. on very the

Scott Tarriff

Thank you.

Operator

It further the questions. will Tarriff closing have no does Scott I appear for we remarks. to return floor

Scott Tarriff

you, Thank Keith.

year that our terms Let Eagle's XXXX revenue we dedicated growth best be new our profit total by the has the public. in advancing by bendamustine to remain potential important and and pipeline me next three accelerated in history over reiterating the to building period close By franchise of today the strong gross of followed treatments and years. bringing an programs to

We on and growing areas underserved in relationships our stated therapeutic as to organically addressing continue to I focus strategic our delivering value both three company shareholders.

and Thank and your So over time once again shortly. again thank you these you families remain times speak that difficult safe we'll you for your this morning. hope We again.

Operator

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

day. disconnect. You Have great a now may

Eagle Pharmaceuticals (EGRX) 11 May 202020 Q1 Earnings call transcript