Acorda Therapeutics (ACORQ) 13 Nov 232023 Q3 Earnings call transcript

Welcome to Acorda Therapeutics' Third Quarter 2023 Financial and Business Update. [Operator Instructions] Please be advised that this call is being recorded at the company's request. I will now introduce your host for today's call, Tierney Saccavino with Acorda. Tierney, please go ahead.

Thank you, Cole, and good afternoon, everyone.

Before we begin, let me remind everyone that our presentation will contain forward-looking statements. take found encourage SEC those they you the we be public, which filings. Today, registered can investors Q&A, we some and to will for disclosures the in in filings, our are during have call. Detailed written from when questions refer to Ron now I'll CEO, the over call pass our to Cohen. Ron?

over Thank INBRIJA XX%. The were for related increase sales quarter. Note also They quarters. QX actually same projected U.S. $X.X adjustments XX% in the up in versus a quarters new QX in of discounts Welcome, and year prescription the quarters lumpiness the you just different allowances XXXX in We'll was first net respective see over growth XXXX. sales right to dive buying XXXX. also of XXXX this in smaller is forms. of We've everyone. Tierney. trends patterns were first in net pharmacy you, the across in, since with Those to continued request that QX million And launch. starting quarter increase and and slide, the to each X the third that X% in see is over an increase some part to quarters the X

been first you the in brand our have U.S. the $XX and that our various in slide, QX XXXX. by first XXXX X see we or by guidance quarters by place of to total prescription We QX last year. The first over that, of XXXX and versus putting for TV are also the quarters that we a professionals the cartons, year million of that believe XX% We're X% of those increased XXXX services, result. for discussed $XX since the of indicates desired and self-identified who and by XX% of XX These over or We year, Channel, well. first of versus quarter the the last to care they're trends encouraging is treat first similar X per dispensed XXXX. maintaining have that million of the the commercial X.X% Hulu, the impacted a pattern. X that these Disney for earlier increased specifically year QX so go actually also X by see next X growth about the programs call. If for this the as this INBRIJA for quarters of And TRx to airing health been quarters the INBRIJA very having has on as that It the is third performing It's And the being XXXX quarters quarters disease first up Parkinson's over and XX% been we've X include over and for the disease. directed households Parkinson's highly Paramount+. streaming launch.

the targeted physicians been very commercial first in commercial that of to contrast year, INBRIJA had the have this launched And since need over views. prescribed importantly, is million cable -- for XXX in information. to commercial. or in they to highly the this a time So broadcast And the the has audiences X.X has we commercial typical saw XXXX April after this

www.getinbrija.com, the see to that's i-n-b-r-i-j-a.com. like you'd can at commercial, you If watch get it

of on-demand now X countries which has up XXXX, has for week, and and encouraging. this Spain the the Chile INBRIJA surpassed licensed exceeded has Esteve's projections. expect feedback all Latin highly as to be in in to physicians be that partner, approval our leading will have X initial by they continues For expect approvals Mexico date now in INBRIJA from file filed there X have the in and they to Biopas America. to last to XXXX, in announced INBRIJA for. The treatment in we apomorphine ex-U.S., They of end Brazil in year, as and launch countries

my launch originally product the in report meeting last opinion-leading enthusiasm high Esteve with to Esteve slower anticipated. Now fact, Germany the from levels personally of Germany that continues been some doctors week, XX Germany. And in I in has for in both Parkinson's for reliance was has that key therapy Spain. for can in-hospital and was many verify had stays on But marketing Esteve to of to I indeed account a there Germany adjust And enthusiastic. Germany's on based unique conversations degree high its initiate patients. there, to

of is here, having that Europe, most -- they do adjusted that coming hospital. their they on, but actually, Germany, it. don't when in medications have in in or medications We don't system But and the have patient a new

had to whole INBRIJA a we of develop and a have the smaller So cost need reasons of the to due hospital box economics process.

last Esteve's of as there. well shipped we to more the to boxes week Esteve on to to physicians So based as And hospitals. smaller market and that's now going make conversations physicians it therapy INBRIJA have initiate patients affordable distribution with for my in research easier for

training limited And perspective, they clinic because now a nurse the have is and education expanding that some it very aware are upfront. is -- home, for on, the actually The Also, they important so find program requires their that training that in successfully physicians helps them. from right Esteve using and Nurses time has at very educators. patients them and for and very great deployed INBRIJA importantly, they're this now. because adjunct train visit useful this and and

expecting or early Chance out. So there we're looking to that the late Pharmaceuticals year. next this as In to results regulatory of China, from year forward authorities seeing roll the is update an continues that

conversations additional when get and have discussions we for the we that information. And also rest agreements So we or on multiple the will companies ongoing territories with EU other the report that in world. of in

was going U.S. to revenue that That related that, I'm AMPYRA. the 'XX. show quarter the was third adjustments in it decline to XXXX was partly XXXX was was high. And the as any regarding was moving our a But it to it's gross $XX.X to QX another -- of in third of for net to quarter over see decline slide you XX%. So just the fact revenue over quarter and was net XX% AMPYRA you it but here, due highest also million. fact, unusually the calculation. of in

If we you look lumpiness quarters first XXXX over at the quarter-over-quarter. of XXXX, of X -- of for the some that first 'XX X compensates the quarters see and

but net XXXX So million of our will $XX several for believe and to plus said, between over maintaining at approximately that years. continue we're guidance million. We $XX we've next million $XX stabilized the as decline, sales sales

our to the are is generics. Access team the make that extensive. call specialist AMPYRA maintain effectively they're XX% on can against high. of AMPYRA the sales Over for to sure execute lives brand field the MS to continued that access strategy through we we've on aware brand, insurance. programs get to their branded remains So to support our And our which are continuing continuing covered

success not prescription brand. One and of the is XXXX, XXX first encouraging the this signs the prescribed in XXX in requests our that AMPYRA year, of X maintaining most it physicians for new of quarters in that the who had in resulted branded brand prescribed

you. Mike? Our will the financials Gesser CFO, Mike review with now

for essentially and QX Thank over and XXXX last Ron. in flat revenue year neutral the Yes. to $XX.X to showing towards below you, XXXX -- the work million September September up global to cash year Net quarter prior over to X.X% year-to-date XXXX XX.X% the year-to-date XX.X% SG&A or the we our QX September, our was lower as behind INBRIJA prior year-to-date same flow ending was cash operating commitment was year-to-date period balance, September. continued $XXX,XXX expenses. QX QX same company.

recorded million revenue addition our the In in FAMPYRA additional U.S. total INBRIJA million for third U.S. to $X.X quarter. $X.X $X.X in ex-U.S. revenue, million in a of for royalties we sales,

we noted, Ron reiterating As financial for our XXXX. guidance are

We $XX net between of expect INBRIJA U.S. $XX million. million and revenue

$XX between U.S. million to expected turn $XX is expense expect now and net Adjusted $XX between $XX is to our the $XX balance and And million. call operating Ron. We be ending expected guidance AMPYRA cash I'll and million over to back million and between revenue million. $XX be million, of

Mike. Thanks,

building priorities our summarize value. to shareholder So for

maintain INBRIJA INBRIJA, year. We our lower quarters first of we've as the year sales increase discipline. exercising the first increase first versus the growth we've future continuing And that discussed, in $XXX for to to Last $XX to a having especially AMPYRA XX% this we the million to desired seen on seen promotional on year efficiencies for and last programs for the to last $XX quarters are implement First, X brand. We're flattening of this requests in the indicator expenses prescription $XX OpEx million the X with this continuing brand, leading fiscal XX% million, also the been a of And original we've over new for increase the attrition as X the year, impact. quarters curve. we downward that's adjusted a of we from X further. going our operating believe of quarter, and guidance first additional believe to noted, million be work with quarters to the we to we're year

Very in open company's collaborative can servicing holders arrive so might we with frequency. approaches we of have increase importantly, quarter's at next to the And conversations that expect, end expect we communications year. and debt, are you at is the to continuing due these well which to as the debt convertible depth

create our proteins, shelf, technology, And using various has mRNA inhalable team evaluate ARCUS-inhaled to Finally, technology. powder in to stable are creating for with inhaled companies the formulations as to our with important continuing to peptides collaborations therapies. as ability other new shown addition the small molecules well respect we

the will Tierney? open to we that, With call questions.

here. few a have We writing questions

be Here we to is expect can one. positive? first company flow the the When cash

year will call. projections we year-end at typically -- and for the Well, typically give we year, our the this again,

So complete, that when our year we got will budgets have and this the end we've projections our complete. of be after

that So we'll you all at call. updating be

are to way management improve what Second accountable? held performance? And to question measures is, is better what being being forecast taken

that -- say, ever I have projecting assuming first year after So a really XXXX. because in would questioner I'll was I'm to launch had we accurately excellent outstanding projections, that launch an X people terms in INBRIJA remind the or record referring is the just of more AMPYRA since, and of

throws to monkey wrench think being an first we've but not their the I calls, has not some doctors we've So on years, because a metrics been the that have there, doctors, we set with pandemic. And circumstances, of actually -- not X, office, aberrant with the usual switching The is people which the patients been the for the you video. situation discussed And prior target case launched where -- our into seeing INBRIJA, a that very extremely in difficulty had mainly into at that X years. we difficulty AMPYRA. projections last few the consistently having in

professionals other fine, the We the train not did and online, being in not have the access a which to train except but is person. patients office there the in it's for to physicians the substitute

making in. to get environment And modules. data normal you we so environment. With it they expect or or now that if I held to within find sure It that that a true to performance regard into goals over incentive and meeting is very to we're and go if that accountability, previous to value use that more was year we're and the strongly, shareholder or look normalized, XX-Ks, followed as we're typical compensation the difficult better get Board we say rewarded to for factor has been firmly exceeding difficult. quite normalized doing in and check we is to you so, challenging. And I will ensure that if less feeding accountable will are And -- will us and quite I you management they have that more you projection goals able goals along It's been the conditions if if that or we're that not. the believe attended here was better and back we're proxies last or our opposite -- want a more and to all being

will also in remind that management the stock I team entire that's owns the record. company. So the been everyone track

our that incentivizing company, to stock extent is that's not, And is price or in the holding us also the so the also that the value that extent of reflected performance to accountable. it's the and

writing notes? question which last And is how company XXXX the here planning to the have, is I the address that is

end an presentation. our I that had have Well, relationship I We bondholders. -- of on the what think must the open we open an with -- toward convertible touched

throughout. And . collaboratively the relationship constructive company. stakeholders right down them a been it's sit have think to for I how are with about the arrive the going conversations in best we we at solution and the can

written Okay. the that question. And last is

and ahead go out So call. operator, we close can the

All at we'll to we year-end right. call and more you. everyone Well, let me to for the joining you give just have information forward where us, thank seeing look

Therapeutics' concludes your participation. Business and Third the for you Acorda That Update. Financial Quarter Thank

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