EGRX - Earnings call transcript Q2 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' Second Quarter 2020 Earnings Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks there will be a question-and-answer period. reminder, XXXX. call a today, being As XX, August Instructions] this is conference recorded [Operator now pleasure is It my to floor Ms. over to turn the Investor Wilson, Relations Eagle Lisa for Pharmaceuticals. Please ahead. go

Lisa Wilson

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

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

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

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

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

Scott Tarriff

and morning excellent first-half comes up have per strong with first an you, a quarter, when now everyone. EBITDA good We we and second strong thank earnings earnings our with of followed diluted Well, in Lisa, generating to quarter, non-GAAP and $XX.X a share. it $X.XX had

to our has we digits chemotherapy Our a been while earnings. double tremendous products are return due portfolio and by of down in second-half, mind have the our that we visits maintained we sales benefited done which job, still we and to proud the fact customers we expect strong COVID. have are have COVID, access Keep to have in don't in force don't full that

in reverse for destocking that will expect forward. In BELRAPZO the we also headwinds fact, going have had we first-half

exclusivity We the affirmed in ruling in team and pipeline panel in district and patent a the A our our litigation have to of balance goals quarter. added clinical drug the our we programs, four have healthy our in case, our BENDEKA further support DC sheet enable to ANDA court's continued orphan lower filings. circuit to against investment prevailed

the approval news year, final for which last We the PEMFEXY, recent since vial. our got from FDA multi-dose settlement on have includes a and great approval

with this orphan FDA week, designation with for the Technologies given last and initial granted than pancreatic originally a for represents announced treatment our exclusivity also lifecycle a and candidate, period strategic received collaboration longer J-code, of Eagle its significant lead drug product unique that for the XXXX, partner SM-XX, We opportunity our cancer. in patients Tyme anticipated,

do lot opportunities. of several with a work important important of in have second-half to we along the the ahead, looking Now, year

long-term SymBio as income to can. value partner the expecting our minutes, bendamustine market we see stream. vasopressin share with as get a approval In late year, plans another from are to licensing that soon our we to get I and We few this will

are remain very progress about We also nerve excited fulvestrant. agent RYANODEX, still making we with the indication and for FDA around

share balance specifics and programs with our through our on walk these year let start Now, the into for plans of oncology I'll you the me XXXX. opportunities. and the

fulvestrant EA-XXX, pipeline the franchise, work our Regarding product positive most significant potentially our which could targets cancer, opportunity. oncology receptor estrogen breast here and represent of our candidate our advanced cornerstone

received postmenopausal More recently, importantly, this encouraging. previously our in that our we clinical postmenopausal and substantially from study pilot data study, in internal just In is metastatic breast product patients. these the outcomes objectives, fact cancer women, met could very improve additional for healthy initial our also

in Our product women, to next Eagle's the plans will meeting, the After as with efficiently are get provide the the to meet to the clinical these and more agency FDA and we about significant can. our treating a benefit steps concept as that finally we market. we represents details in believe market finalize why

of $XX going SymBio, for represents payment, talk from and meaningful for Tyme. source Japanese to pack. the XXX potential Let bendamustine receive and ready-to-dilute $XX pack by ml SymBio then of income a the triggers followed to launching our expects million briefly also million $X partner SymBio milestone forward. a the me ml which approval about liquid us its licensing This royalties million first XX product, in annual

cancer license SM-XX BENDEKA, PEMFEXY will franchise Technology. under and for from but a in license Tyme we cancer, did launch we oncology as we only what include our in study are that more. learn novel late-stage forward Lilly, also 'XX updating under for look from not Tyme We BELRAPZO, and fulvestrant, SM-XX, you of the by Ultimately, pancreatic agent and encouraged Eli investigational to are pancreatic and seeing

we in critical feel to franchise, starting with about, anticipate let very timeframe. which our vasopressin, Now, care turn reasonable me approval positive and a

the and to stated is Vasopressin API, file first of have two complex work. the we As perform to is development required vasopressin over years, a past being complex. us significant

will invested product. is of older is an rapidly have year, and also all would vasopressin work recently originally but the is the which $XX apply product by we've evolving, experience and doing on polypeptide a this us the fact, published a new cycle anticipated, The clinical field that new review million specific is asked filers, of legal on standards, molecule. other approved been Obviously, data. development the first expense we FDA ANDA Eagle. and polypeptides In R&D we scientific in to Vasopressin has not one. this not this chemistry of Much questions, based is and just incorporating FDA approval, which few end the of of to

raised to is to our as FDA Fortunately, relates deep, respond the hope month. we by next it questions project this to and in science totality

this working as polypeptide allow all conversations may is and forecast agency us new the our We the the be while with on of accurately well are very those cleared questions next approval completed. by testing at to standards, timing outstanding month, the up of do time, the end not

nature of here. comments our on not and historical the are do precedent, believe based certain, danger not is Additionally, but of level these exclusivity. FDA, we obviously losing we do we This have from confidence of good in that a

I'd so to unfortunate on COVID is Next, launch time. address many levels. like our

that and XX yet. we assuming launch for hand, we approval do Nevertheless, which a May date, our and out our of day of have date without have this our in was months in to postponed, point decision. trial court new ends not we it a product scheduled By was is law could October important XXXX Our originally year.

said, strong That Based We next believe should from we opportunity on position. early month. approval, ultimate based updated believe decision now. time will this have launch we potentially and which, The are patents, timing may confidence of in in this, non-infringement be in both evaluating trial. has the and move of we on into The invalidity the are our year, our this be we the made confidence and of shifted view of all both 'XX.

XXX launch continue will anticipate of expected of million you Also, occur does this to remind about sales We I'll our that when to the are exclusivity. $XXX days VASOSTRICT we year. the reach maintain

turn to franchise. our Now, RYANODEX let me

exertional notified morning, we heat release response noted in Friday letter our press for stroke. FDA on the evening, As for complete this were RYANODEX by

that we heat determined all have revenue no absence the of We we with of indication. last call, XXXX for of than nine expectation. will This remains greater RYANODEX the pursue last stroke our longer On would exertional the this indicated even months aggregate that year this have we indication. earnings of our

potential for Importantly, indications number RYANODEX. other of exciting we have a

XX for the a which, days, study the Protocol the agent to we Special application brain in to hope RYANODEX nerve Assessment, or If secondary drug is do, new file be and we submitted Regarding of will finalize treatment difficulty] The time plan damage have first-half. mutually-agreed upon period exposure to review a a which this month. will SPA, in start [technical then we protocol.

the and year-end traumatic NorthShore new indications developing grant to We study for of results progress collaboration Pennsylvania including injury. Alzheimer's with EA-XXX, an our syndrome, for new also on In the we're share for formulation acute before with University and we HealthSystem radiation RYANODEX, continue intranasal make and formulations we brain disease, EA-XXX, to refer working formulation, the on RYANODEX. an as we're which treatment intramuscular developing of also and University by of

is As going work you lot there of see, can on. good a

to of accelerating earnings and in the diversification the contribute power can the years. these next of several All company

progress steady Eagle's supported the are fundamentals. all board, making are across We strong and by

even will and Vasopressin launch, followed We fulvestrant are moving on by lung, the of the heat company provide the growth approval. the without exertional stroke which PEMFEXY launch, for significant while focused all indications RYANODEX

pause Let call today. for me a is Hepner, here on who the with Dr. to us thank Adrian moment

about leaving ago, turn continue time. a extended call financials. for you but Pete with company us has of an As for was consult done period the to the with he discuss year second job over I'll to quarter Pete? great week that, And know, Adrian and a he will just our Eagle the to last his is

Pete Meyers

by of $XX.X product BENDEKA. RYANODEX's $X.X million of $X.X second the QX million Product million partially sales during you, compared product $XX.X sales in in in XXXX, million total QX quarter, to the compared XXXX. quarter million decreased decreased XXXX, in of primarily QX was $X.X $XX.X increase million, Scott. million sales were BELRAPZO million a second quarter in XXXX. in $XX.X In decrease $X.X to These were product million. to the sales Thank to of BELRAPZO, the sales $XX.X offset compared an second $XX.X due decrease to million, in to revenue of of sales

occasion market second to shipments reminder, quarter wholesaler revenue second U.S. users share BELRAPZO Based market on cutover June was IMS reflected data, XXXX of the the branded quarter. stocking wholesaler name. for the the to a end of by As XXXX X% bendamustine bendamustine Eagle's

XX% approximately QX reduction According and period lockdowns of physician-administered utilization specifically to products. is through, our poll have led mid-March. results compared in IMS in oncology resulted call, pandemic utilization a the a healthcare in bendamustine decrease data products discussed COVID-XX down we in and to As the broadly, prior associated to to

inventory wholesalers during several period. have Additionally, levels reduced this

discussed past, we've As ex-factory the sales in revenue and to Eagle wholesales. books

to these have We yet continue of a wholesale and see as outbreaks in usage trends, to abate. normalization both anticipate a inventory reversal levels but

the today to believe well-positioned We American in are positive broadly, treatments. provide encouraged these access patients healthcare and by healthcare to that life-saving the trends is safe we system delivery with

XX% RYANODEX units. share quarter, the product our of in compared XX% QX X, product remain $XX.X the following pandemic, second million of months, XXXX. year royalty the for quarter primarily will were the during a XX% Despite market record then, will potential XXXX product. to X, margin for quarter, RYANODEX On $XX.X Orders a as Eagle XXXX compared royalty XXXX. the revenue. for October the XXXX XX the second Gross BENDEKA license life second Eagle it no of normalized to COVID-XX to of were challenges by in second BENDEKA $X.X full-year. sales royalty Expansion gross was by Second period [technical and $X.X XXXX continues which in to prior in in driven of in and on difficulty]. precipitated commercial continue accessing QX product second agreement. expect driven increase our in revenue the amended royalties the particularly at Teva the $XX.X to million million, by of to profit, efforts rise quarter an compared sales In the lower partner October the to where XX% quarter and and to to current BENDEKA in XXXX, the quarter million was on the RYANODEX product for by receive increase a cyclical injection from compared earns rate was our second increase royalty we in for to quarter. expert. RYANODEX rate quarter again XX% customers the marketing difficulty] sales XX% dantrolene million [technical margin sales, had are

million were compared an expenses partly prior R&D on to spending run, expense. for decrease quarter, quarter. offset from the primarily second vasopressin the in expense $X The lower $X.X million resulted the On by fulvestrant increase in

other R&D compensation stock-based expense $X non-recurring the non-cash during Excluding second million. was and and items, quarter

$XX.X SG&A number HealthSystem; launch CMC quarter EA-XXX COVID-related in PEMFEXY. number additional pilot result five, advocacy and Pennsylvania scale initiatives; three, for the and to million offset to for RYANODEX agent of second the of preparedness R&D at tradeshow Increases increased NorthShore studies R&D treatment CMC and acute in $XX radiation includes, number for million compensation and number XXXX. six, decreases XXXX non-GAAP regulatory partially trial for University EA-XXX XXXX toxicology of As stock XXXX and delays, cost million we up legal lowering a and as pre-clinical spend development quarter the work four, are expense second in one, in to number of trials vasopressin expenses. expense activities; two, of RYANODEX formulation the $XX EHS; nerve were T&E to University $XX by EA-XXX syndrome; the expense and IND-enabling compared our exposure $XX XXXX. million to anticipated external compared million, The guidance

XXXX compensations, second SG&A items, another quarter and was million. non-recurring stock-based $XX.X Excluding non-cash, expense

million by year-over-year will basic million offset a for compared prior share or income to share the per higher our is $XX was guidance year XXXX. per $X.X million the or $X.XX $X.XX reiterating $XX.X are basic diluted $X.XX to sales to net income second partially SG&A We and $XX non-GAAP loss of $X.XX period. million XXXX attributable non-GAAP $XX adjusted and largely as $X.XX expense compared of in million basic million quarter basic that per diluted quarter payroll per legal $X per diluted second $X.XX in XXXX share external Adjusted Net spent. or $X.XX quarter. marketing or compared the on The non-GAAP year basis lower for per to million share be of income net in and and and to the $XXX a diluted per prior was increase net

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

the compared the Our was EBITDA quarter $XX.X prior XXXX to quarter. second year for of million $XX.X million in

to XXXX million $XX.X the was in EBITDA of First-half million XXXX. compared first-half $XX

XXXX. including to XXXX cash First-half receivables flow to in from operations million first-half $XX.X shift was compared of $XX.X the million

For EBITDA $XX.X the June XXXX, XX months ended was million. XX

$XXX which $XXX XXXX, As due company The receivable, XXXX, and in cash net in of $XXX.X million million of receivables of part $XX.X of outstanding repurchased the June common Therefore, million that, million. million share debt. XXXX June net have cash open the to call equivalents second In From XX accounts $XXX.X through questions. our had of $XX common and we the June million million company our company as was Teva. ask had the purchased XXXX, of $XX.X Eagle's in With as of program. million from the $X XXXX, plus August Operator cash had stock. XX quarter of XX for we I'll stock up repurchase

Operator

We Please Instructions] Capital Markets. Randall with ahead. will Stanicky [Operator go go to RBC

Randall Stanicky

you're Thanks. indications, response business timeline design, talk in of what about would complete was exertional letter, do to for on FDA to other does what fulvestrant second first trying And add in thinking you anticipated most sense? I'm all any the Scott. terms to least, to clinical or if the question, development? the on make respect to not work stroke? that at would there's based that, That's propose based what your then, to on with for study can RYANODEX or you understand then, not Thanks, at what planning you Can about into just like look question. detail you're and if read-through the go around able urgency the think just more Great. it to any heat

Scott Tarriff

Thank you, Randall.

due sample have, believe differently. EHS, that used best of if we indication size, the not there's run difficulty] able indications in there's divisions, approve it that and down not just large to comes probably on to the don't to I we've The to fact for remaining been EHS, other still evidence other may impacts read-through had enough for lot if a I been we to patients, it study I sum can are have as that test it right? able worked with a indications numbers look, out a indications. in the [technical up that patients, I of enough well-controlled, these double-blinded and the think different can, So

down it I that's think to what comes unfortunately.

as can far clear, now -- may at weekend. a look, XXX As more I we do this we some data be dosed over to say believe We've and over past which have just what look, goes, fulvestrant received point, we so women this outcomes. product improve

now going finalize the about plan So, timing. that clinical the go to asking we're to to FDA, you're programs

on before that and should wait timing meeting you till the to speculate. working and We what's don't give We'd we're very details have FDA. which of intention we going with we timing, need registration start this everybody know we'll but exact the details, understanding come I real like opportunity, get get about and may once the our not so, have the with agency, do, can we that we the this we're what we and and is or going. moving agreement now we to our year, have study, through back steps that the the better next be the really may from to with think back aggressively So, details the full study, the next Randall. to yet,

dialog on some with had have the them We topic.

that have reasonable have opportunity. feel we we how sense go to So, really and into dig but that let's meeting, need we the of a back, come progress,

Randall Stanicky

On and though? sounds then with we FDA, you what number they showed the submit," them got changed had ahead, said, of patients, to EHS, good. meetings the study the That work Presumably you CRO. "Go

So, on to mean just any business does of the repurchases? I detail part then can us on increased development business and relative give development, share what happened, that more you

Scott Tarriff

Yes.

don't I the don't four lot I know insight going just I look, have a to and say can that I was more unfortunately think, on I than Randall. study that patients So is It's of years, we a type on there's response, really heck been the more weren't if for complete get think and the required. able

I think last this development, that's still and can very see we're even you today it to, our really with business to but it what relates time, view back [indiscernible] it, going to of we're down the patients, XX situation. bullish vasopressin as excited, comes as on our

that's PEMFEXY, royalty So, earnings in SymBio, we rolling excited and probably if and but into reasonably that's approvals and and then last overlooked several coming for two we vasopressin sometimes, significant increase soon, will income then a those about all launch years, that the go we're the power into so, in.

year injury, we know capability very now doing little keep we the deal, and pipeline all that of a opportunity. agents, that So, found you coming with year. and pretty quickly, we I next at Even to pressure. brain really on guess And earning more have but so and thing coming is saying which in those bigger a months. just PEMFEXY, that, traumatic we and be starts on Maybe years we're make nerve certitude to and but that perfect. just a data this and that's fulvestrant aggressively. a data of, that cash we bit then, profit lot what pipeline we looking, very keep the many but hopefully have vasopressin, have we're and down be so that's behind Maybe for the starting reads that our nerve agents, that That's not look, balance wonderful don't of seems feel by now time want to we're them, look needs comes nice as products get aggressively looking SM-XX, and from and out have, lack it working to recently, we we great well did have pancreatic we of product drives haven't that absence done on happens and we come, that and really sheet the we'll company, about SymBio, deal more I in the selective, bringing cancer think but the let's see a study the that, Tyme a money that lot profitable strong of perfect we having EHS quite on it more we're we still it have into what bigger, think for trying very we the the haven't earnings few and with good, company the think to is way. the think just we more doing we're so, the doesn't situation, the

Randall Stanicky

Scott. Thanks, Great.

Scott Tarriff

Thank you.

Operator

Lugo We'll Tim William go our Please next ahead. question Blair. from take with

Unidentified Analyst

Hey, sounds you the but that you a taking it color month give Tim. It still questions do if on on Thanks questions. us the they could testing, little guys, little like detail, and sort of within vasopressin for on. possible more a is would just a data. was this getting were more that mentioning more to going testing of [indiscernible] approve see I expect share wondering you for

of kind you back to related so the maybe the data that of often XXXX what to timing they sort the legal having? at turned And launch said second or approval by So is situation? this point, are that, push

Scott Tarriff

good very really Yes, question.

behind been quite exactly think testing to time though needed bit we that be being them there's going and sure do we've going end we're going can't to time, then of do and on the because on early FDA, we've these our market, how our spend going work month, that quite I and The in is willing the the of a that me don't respond question to pay-off, to which year, work and product a done as polypeptides actually as next wrapping all and I long lot what's in not by $XX to speak do, we lot spend and prepared make, us to get I to a we've molecule, million review so, that's and clear, it's questions and else old guess this my make testing molecule of to we be the years I that of they've comments of little up to in to asked but cover two end the at for getting the me the do, done take remind is is on in and potentially what for that I asked this the we're and I'll respond, first testing if again, the a of be Let time everybody is file, this to comments, prepared to in product is obligation, to to approved. totality statements, a in the two sure it's up we're everything expect I to next this comments, taken said I we've or bit in to that moved year this my tried they've as indicated but air encouraging well, my now. us from of confident but why this that testing a that there's to last us to is that's at around to work the bit were timing that have very stay product review and

the what had need the FDA conversations approval market. it, them, we're how we've back figure complete, and it wait get out the we'll part, almost get we final do to it's with for think send I to to doing about our to to we'll and most

Unidentified Analyst

Okay, like, question. other great. to I quick Thanks clarify one guess

fulvestrant been the the meeting with FDA, has Just scheduled? that

Scott Tarriff

call, a this have fact study It weekend. some that can them nice were we get and nice opportunity meet we in FDA Yesterday, We the hopefully been to yet. be able and detailed to plans exciting to are so data bit encouragement communicate our strategically with us about for and have or scheduled next now will and then, be it received compelling add more what seems additional a everyone, a more package, to think has really I be a to very data the project accordingly, to why and We're soon for reviewing than we be now. plan and able an be exciting that'll send the quite our sit we and to day think hopefully being today. these with women, to just us not over treat how very soon, these very to detailed I going, start they're women about and treated talk will may and doing better of all

Unidentified Analyst

Thank you. makes sense. Thanks. It

Operator

ahead. next with Sandler. go Piper our Amsellem Please take will David question We from

David Amsellem

Thanks.

associated mind more call, talked you your you're number about about that's on earlier and can Thanks. you here quick as us number in here you and of challenges about you more I Vasostrict getting granularity with I [indiscernible]. is it really that also know, good two, know also are than know on the question ones, specifics you being couple a but my talked of that guess provide And it priorities? speak just then, you a one. what I changed how your so are at yourselves bad you sense chances, with approvable thinking approved, can So and looking maybe looking has on it or BD the give

Scott Tarriff

Thank very much. Hi, David. you

took back them, notes I'll in. Hopefully, your Okay, address I of and from all just chime questions. if don't, I

approved. complex think right? that just a anything's it's of work very to changed, I to I vasopressin, tried point on As So, out, done. a first to be There's don't lot to needs product get

all type lot You company we've of first continue it mentioned, than a and are, now, our out two feel of the FDA at years NDA questions as been clearly of perspective more us. feels and to you know, from vasopressin like the, that looks and testing great ANDA, cycle, a in XXX(b)(X), know, does we and in in and we the do an we've been approval over not worked I for is additional we're

We in to nothing confidence product additional do approved, a all here will after we have a that have formulation, the that weren't month, there other couple out to last handful to and for very we hold up testing of we've a in that in of of which know, do lot be it years this we that up do that we money to, all respond we some confidence handle wait we the as required getting product questions, lot we a that couldn't us handful of of just testing have of that really we're good some FDA, our and is the our we've and additional confident it. just were wrapping here. as we'll able asked our of next approval then, a done completed There the get will testing far it approval and feel questions on coming shortly, spent in and or but and we

that goes other we're confident and than work don't So know the anything's normal that's on. where think I we the are, normal really changed,

to know just we final that's We risk we're more and FDA lives minded, license, know, In PEMFEXY Tyme SymBio we company of on nerve to approval it and has because we approval, as commercial terms David, will we're on more confident said, had another I do company getting have vasopressin, to company, their well. agents look talk right, moving Vasopressin, to opposed the final can Japan seems bigger product under get inside at approval, to that. as say said, stage clinical I we want to as risk, this is path stressing be of along We're presentation. the have and strength. when it. unfold going ED, rather working be tell I the best the rather you so product we at about the that our the through launch. SM-XX, clear we I The because open keep a doing profitable in feel in we that on diversified.

the of take risk. than end the clinical more rather at day, on think I

approved that commercial I that already on think get the or about take to we moved risk are on are products market. products and to

would us that's and getting the risk as we're type the I and look it. the way moving the in have think up mix that to best bigger. serve growing of I to at believe company well company we forward

David Amsellem

Thanks. Okay.

Scott Tarriff

Thanks, David.

Operator

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

Brandon Folkes

Hi, calls. thanks been have on Apologies these some a for my am taking answered, question. jumping I between few of if

review Firstly, again, vasopressin is theme it the it you just on review this Once a to data formalized follow will resubmit with be to that work I be. FDA, here. going period actually period want to the

on color any and update RYANODEX seeing Secondly, maybe any provide in BELRAPZO you can COVID just clinic then last, the into the July, in Thank you're in what usage you. program?

Scott Tarriff

you point, let going about you orders this at approve to timing these FDA sooner had to to Yes, it. and so know, the the take for and in how BELRAPZO information question you happen of than unclear me the and will long you don't is we had was, so, had, that can you the Vaso, it's I last it think COVID, think Vaso related lot first more a so, I give later. and date take

for to month. So you may able next be that update we

it's next So, of into is to able I this give and in ultimately you a that be to think we're approved, get potentially it when half be right in like product to year, we September. we'll as and we thought hopefully will that, again year, going data update we'll about the won't looks early bit be it, articulation plan our launch better it is, likely with and and conversations maybe some FDA, this I can pinpoint and able said, to little

have as that we project. COVID, far on working stopped As

what rather we well, situation. color side that that think to things about and relates do turn clinic, over then, more and that through BELRAPZO, before. mentioned maybe to feel David We is company to maybe as all now off need to Pete everything and as right going and been to the concentrate that I up can who the to to as bring today, that can we're speaking on push BELRAPZO the so you, move seeing else, much more I we we've just it the in there ready I just pick we think we'd too the to into ourselves go work on

Pete Meyers

quarter three, that Number two, One to three tough a the our down watermark to and unusually inventory for one weeks Brandon, issues have their was to comparison BELRAPZO of of were the with really. in hand level part in high for the market. Pete, ending quarter inventory the Hi, year of far as XXXX, on thanks in was the know, question. XXXX number you second a wholesalers brought June the associated the BELRAPZO through stocking large as we over name This was switchover to appears there as low; that score some year is the second had terms of due pull revenue quarter. brand in

of were commencement to As is middle the is BELRAPZO the of move see general the through at or we're to factors now, equivalent bendamustine XX% I'm of relative of of can we of impact quarter is all from IMS latter were the data sure so the here weeks quarter. to and maybe one three second revenue, prior those about pulled March, conspired you through hopeful XXXX normalize and look the timing March two track, same the number that one if from Middle-March, third period if XX%, to down period as which the you middle From the at look that matter till lockdown. will to

David Pernock

Basically you David is Yes, chemotherapy this visits know, quite Pete to and as yes, just bit, on add just dropped right. that. a

on for in were to we're see sure, a for see as and basically So major basically chemotherapy such more right, basis. were where There Sun we Memorial were oncology that, people closed starting in start essentially that's the for in many to hot regular returns Catering coming business. areas to across cases bendamustine like back products institutions

it was unusual. not that So,

expect said, Pete kind of a in Wholesalers anything downstream physical the COVID-related some stock to that and normalize. not COVID, basically we is right, to to that other issues. as related the pressure and all then, space hope middleman as stabilize that cash some inventory basically needed that those quarter, specific the of should up just some to warehouses fact impact impact just was things in to stocking which there brand, rebound put was basically to less, took expected we less there they on but that that also their but supply, COVID weeks was due to carry on this we starts the due to and So well, that to levels, just few wholesalers basically

very the year we about So, to are optimistic for last six BELRAPZO. year

Brandon Folkes

you thank much. may. very Right, I One if follow-up

and product? scale Sorry, up at back vasopressin. or it scale launch in court? just you approval quickly Should How ability should circling your up to after launch the to risk about we Thank whether are successful to think manufacturing you you. pretty

Scott Tarriff

Yes. Thanks, Brand.

in to supply. So, and we are all. ability very problem going manufacture our that's to We don't confident be a think at

the demand, manufacturing quite a have our lot on confidence that we working market. in product high and have manufacture, We experience get to so product meet Again, a of ability we have been with for a while. to

Brandon Folkes

All right, thank you.

Scott Tarriff

Thank you.

Operator

Scott further And appears floor any Tarriff questions, we the it I'll or additional no closing to for remarks. does have return

Scott Tarriff

Thank you.

the will term we of continue forward out where we about near right SymBio. We of very on for as to launches royalty momentum Balance the excited are to coming several PEMFEXY, of very look now. of months. XXXX build a Eagle vasopressin, active be the really are We past and

the the under synergistic patient established in development serve to complement important recently lives opportunities foundation us. and to continue development our will seek have existing improve up We save therapeutics and to potential call that's of business products. as out brought The to

Eagle from our now. appreciate as speaking changed Have the everybody forward products. a ways, we Thanks day as time. certainly great again patients to Thanks While the in will the benefit pandemic taking it, soon. pretty well focus our continue and look on many everyone. has Bye again. for at Really landscape serving shareholders who to can

Operator

This for participation. appreciate your your will conclude today's program. Thanks

now may Have You disconnect. day. a great

Eagle Pharmaceuticals (EGRX) 10 Aug 202020 Q2 Earnings call transcript