G1 Therapeutics(US:GTHX)2023-03-01 16:05Financial Data and Key Metrics Changes - The company reported net sales of Cosela at $8.9 million for Q4 2022, representing an 8% vial volume growth compared to Q3 2022 and a 103% increase compared to Q4 2021 [3][97] - Total revenue for Q4 2022 was $10.3 million, up from $5.7 million in Q4 2021, with full-year revenue for 2022 at $51.3 million compared to $31.3 million in 2021 [108] - The company ended 2022 with cash and equivalents of $145.1 million, down from $221.2 million at the end of 2021, including $52 million from a public offering [23] Business Line Data and Key Metrics Changes - The company added nearly 100 new accounts in Q4 2022, with a total of 71 of the top 100 organizations having ordered Cosela to date [13][101] - The patient share for Cosela in the first-line market increased to approximately 9% in Q4 2022 [102] - The reorder rate for Cosela remained high at around 80% [13] Market Data and Key Metrics Changes - 77% of volume in Q4 2022 came from community clinics and hospitals, while 23% came from academic centers [28] - The company reported that 98% of its volume was in commercial supply, with only 2% through its patient assistance program [28] Company Strategy and Development Direction - The company is focused on three core goals: restoring volume growth, executing ongoing clinical trials, and capital preservation [9][36] - The strategy includes expanding the customer base in community clinic networks and enhancing operational efficiencies [15][103] - The company anticipates net product revenue for 2023 to be between $50 million and $60 million, reflecting a significant growth potential in the small cell lung cancer market [24][97] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of Cosela in lung cancer, noting strong sales execution and continued volume growth into Q1 2023 [36][97] - The interim overall survival analysis for the pivotal TNBC trial is now expected in the first half of 2024 due to slower-than-anticipated event accumulation [19][57] - Management highlighted the importance of moving quickly from trial to adoption to drive success in the market [90] Other Important Information - The company has undergone a reduction in force of approximately 30% to extend its cash runway [26][98] - The CFO, Jen Moses, will resign but remain as a senior advisor for one year [38][58] Q&A Session Summary Question: What is the timeline for the interim readout of the pivotal breast cancer study? - The interim readout is delayed due to a slower accumulation of events, with the trial fully enrolled [40] Question: When can we expect data from the post-mortem analysis on the PRESERVE 1 study? - Active analyses are ongoing, and more information should be available in the upcoming months [41] Question: How is the company planning to drive growth with new accounts? - The company is focusing on standardization in EMRs and internal marketing from large organizations to drive adoption [42] Question: What has catalyzed the expanded use and adoption of Cosela? - Improved access, standardized EMRs, and the economic value proposition of Cosela have driven growth [51] Question: What is the average length of time a patient is on Cosela? - Patients tend to use Cosela for every cycle of treatment [76]