Supernus Pharmaceuticals(US:SUPN)2021-05-11 01:52Financial Data and Key Metrics Changes - Total revenues for Q1 2021 were $19.3 million, including GOCOVRI product sales of $17.7 million, OSMOLEX ER product sales of $300,000, and royalty revenue from NAMZARIC of approximately $1.3 million [29] - GOCOVRI product sales increased by 22% year-over-year, primarily driven by volume growth [30] - R&D expenses for Q1 2021 were $1.8 million, down from $2.5 million in the prior year quarter [32] - SG&A expenses for Q1 2021 were $26.6 million, compared to $24.6 million in the prior year quarter [32] - Cash and investments as of March 31, 2021, were approximately $127.4 million [33] Business Line Data and Key Metrics Changes - GOCOVRI paid prescriptions grew 21% year-over-year to 8,735, with 7% sequential growth versus the prior quarter [18] - New prescriptions (NRx) for GOCOVRI increased by 18% year-over-year and 16% sequentially to a total of 590 NRx [18] - OSMOLEX ER was successfully integrated into the product portfolio, with existing patients receiving uninterrupted care [25] Market Data and Key Metrics Changes - The addressable population for GOCOVRI expanded from an estimated 200,000 to 400,000-500,000 with the approval of the OFF indication [24] - The pandemic negatively impacted the marketplace, evidenced by a 21% year-over-year decline in patient claims for levodopa/carbidopa [17] Company Strategy and Development Direction - The company aims to deepen engagement with stakeholders and expand its commercial footprint beyond Parkinson's disease [7][11] - A national disease education program called Picture More Time was launched to raise awareness of OFF episodes and dyskinesia [9] - The company plans to maintain a disciplined investment approach while focusing on GOCOVRI as a priority [27][34] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the continued growth of GOCOVRI and the positive early signs from the OFF indication launch [21][57] - The company is monitoring payer access and has achieved a 93% approval rate for GOCOVRI prescriptions [23][38] - Management acknowledged the fluidity of the operating environment due to the pandemic but noted an increase in live sales force interactions [20][48] Other Important Information - The company closed a $7.5 million settlement of patent litigation and raised approximately $66.5 million through public equity offerings [33] - Two new patents for ADS-4101 were issued, with plans to explore partnership opportunities rather than internal investment [13][36] Q&A Session Summary Question: Clarification on ADS-4101 product and business development - Management confirmed that ADS-4101 will not be developed internally and will seek partnership opportunities [36][37] Question: Insights on GOCOVRI payer rates and access - Management reported a 93% approval rate for GOCOVRI prescriptions, indicating improved access for patients [38] Question: Expectations for new prescriber growth and pushback on OFF indication - Management noted that education on comprehensive management of motor complications is necessary, and they are optimistic about early progress [42][43] Question: Impact of the pandemic on Q1 performance - Management acknowledged that the pandemic remained a headwind but noted an increase in live calls and access due to vaccinations [48] Question: Plans for OSMOLEX ER and promotional strategies - Management is cautiously expanding OSMOLEX ER's market presence while maintaining focus on GOCOVRI [51][63] Question: Future of the free trial program for GOCOVRI - The free trial program will continue as long as there is potential for growth in new prescribers and patients [62] Question: Feedback on marketing strategies for GOCOVRI and OSMOLEX ER - Management emphasized the importance of educating physicians on the distinct indications and patient groups for both products [68]