Catalyst Pharmaceuticals (CPRX) 7 Nov 242024 Q3 Earnings call transcript

Thank you for standing by. My name is Chris, and I will be your conference operator today. At this time, I would like to welcome everyone to the Catalyst Pharmaceuticals Third Quarter 2024 Financial Results Conference Call. [Operator Instructions]

I would now like to turn the call over to Mike Kalb, CFO. ahead. go Please

CEO, morning, and conference Good XXXX thank for our President you Results and call Thank Del will Jeff to everyone, also discuss our Carmen, and Daly, Rich call Business Commercial Quarter lead Catalyst joining the and today; Officer you. Chief Highlights. and will I Pharmaceuticals Financial Third present.

Chief the Scientific Officer, available for Q&A. Additionally, Chief Dr. will and Steve Operating Officer Miller, our be

assumptions report vary the detailed forward-looking results information in XXXX SEC on this morning and Actual you our are SEC. and the our with including expected predict Before in remarks annual we our be are that not securities be like we forward-looking filed contained with purposes session, laws. statements future quarter remind difficult I the future prove our for federal involve of of These may in may statements. to described SEC was accurate. from only about conjunction to estimates and in in our and They current not factors yesterday, XX-Q, should Form begin, filings, in the third XXXX, may and relate considered on in risk that XXXX guarantees XXXX, XX, report with will projections would to which the and forward-looking statements Q&A which February statements These to performance. the our statements Form make be quarterly filed results, on uncertainties X, XX-K expectations November expectations, risks, contained

call the turn to will Rich? I Rich. time, this At over

for thanks and everyone, us joining morning, Good today. Mike. Thanks,

quarter momentum. report financial that exceptional consistent continuing We are growth performance, of and to achieved our we another sustained pleased

and value. commercial of to third the then results highlights results call performance commitment demonstrate of Today's strategic and detailed for quarter will long-term delivering to discussion initiatives. our operational our Our quarter. financial our move unwavering with portfolio begin on excellence, key overview We'll strategic execution an the our and for XXXX

we Let's results QX year-over-year, revenues total $XXX of start of updating $XXX year into XXXX. financial market, that of on $XXX.X and with the revenues XXXX and first which range XXXX, pleased FIRDAPSE we from the our a the These a result of $XXX.X product million million million, increase growth the launch continues XXXX outstanding net the increase highlights. we revenue and are outstanding million, $XXX I'm range. continued included the AGAMREE. net strong $XXX revenues full In deliver quarters reported total driven X from its to QX XX.X% revenue and a commercial well performance to performance success million. of were for as results million by updating report million of are and sixth year, over between net our million $XXX to year to FIRDAPSE guidance $XXX to the our guidance to full year FIRDAPSE XX.X%

believe maintain our to that ability -- care potential the will identify of Our we success, work been foreseeable an growth patients foundational and active our we to continue with to providers health has for future. drive and to list will this

$XX as to $XX updating XXXX million for range. $XX Additionally, $XX are year net of the we million AGAMREE's to revenue from full success, range result our AGAMREE a projections million the million market to

the meaningful represents growth. to potential options is AGAMREE drive for We market as DMD continues traction a believe corticosteroid We positioned it are confident within DMD well community. long-term advancement treatment in significant to gain and in AGAMREE's

comprehensive revenues brand FYCOMPA compared decrease gross overview adjustments commercial year steady full third disclosed. detailed today's track offer performance, a by on due continues review of remains followed in XXXX financials to and in in net XXXX Jeff net of the call. our generated numbers million QX The FYCOMPA meet later XX% experienced net to our revenues to prescription to to as deliver $XX.X will in of previously a quarter. Mike's guidance.

option future updated Let's and Alongside treatment the we strides SUMMIT bone enrollment achievements, aims as AGAMREE's of starting its advantages clinical FDA financial labeling clinical take cardiovascular front improvements this with regulatory. expect aimed we AGAMREE corticosteroid and view life including DMD. safety our are establishing parameters, at behavioral leading to will real-world existing making quality of underway, submissions data with our it This QX growth a now benefits, long-term we over and the outcomes. hope data accomplishments, the clinical provide gather for study health, to for study. that to validate demonstrating Patient study on broader in support and therapies

for September, commitment Moving on DyDo our make in us secured strategic for therapies regulatory on to the XX-milligram parallel, our we U.S. markets XXXX. highlight global to rare advised FIRDAPSE for efforts, LEMS, our through Canada our way progress outside late of In worldwide. Pharma, continue expansion of launch to global to paving innovative is expected milestones. Japan in portfolio In alliances milestones by Japan, patients in rare and key QX have sub-licensee the delivering the they treatment expansion the approval aiming broaden tablets FIRDAPSE to in Japan, end the Recent disease of which

resulted a million. $X.X achievement approximately milestone of in this payment Additionally,

approval. working in way and the is providers Pharmaceuticals, for Canada Kye health for milestone This rare therapy. diligently to portfolio, another our file Canada, expanding regulatory paving patients in AGAMREE's to care mark this in will access disease partner advancement Our

agreement in and access APAC, no remain regions market entered high-growth establishing been While enhance to expansion. into partnerships and drive to we date, both has focused on LATAM strategic

a strong development space. promising disease our strategic range of the our in with rare business remain opportunities teams efforts our actively Regarding initiatives, evaluating

to predominantly Our strategy on value. is focused assets near-accretive with derisked opportunities, maximizing and accretive path in a clear later-stage

signal is well and the been and for notable through strategic inbound and teams of strong opportunities. opportunities, in This have positions commercial in record, pursuing seen partnerships we a value. a inbound Our increase confidence have rise strategic also actively searching market's us drive in initiatives, This sustained engagement value growth and to commitment long-term credibility with track our our momentum aligning to industry reputation. deliver

execute In conclusion, expansion, execution; to opportunities, global to we second, emerging believe our outstanding third, trajectory our and well as capitalize portfolio threefold commercial on growth we strategy: long-term positioned sustain continue diversification; we are first, and success. drive diligently

turn At Jeff, this call who over time, our of provide to overview I'll the commercial Jeff? an performance. will

Thanks, everyone. good Rich, morning, and

to in year, quarter last the strong million the increased full FIRDAPSE, portfolio. announce third commercial These March million, We the the sustained last to primarily Total performance compared this is of operational a and marking performance between excellence, prescriptions which from FYCOMPA were propelled the continued are our XX.X% outstanding $XXX we thrilled year. $XXX.X night. which FIRDAPSE commercial of million, results launch highlight in revenue and product of launched our AGAMREE, further continued QX QX strategic for on in revenues continue detailed and of of results focus by entire same success. Based our organic our we to performance robust commercial which and issued commercially $XXX quarter the increase AGAMREE. press year fuel strong to reached have steady growth net estimate release

now provide by will product. QX product a I net breakdown revenue of

discussing with FIRDAPSE. Let's begin

XX% year. with support an last increase of sales patients myasthenic $XX.X efforts over net almost the FIRDAPSE living with Our QX remarkably been million have same syndrome successful represent quarter. quarter Lambert-Eaton to this

enrollments while all insurers. patients discontinuation forecast and greater New commercial XX%. below and government private annual LEMS rates than were Prescription across the rate both patient new the payers, net exceeded of was approval forecast, XX%

QX during rates refill returned norms around and patterns of XX%. Ordering to historical

pipeline, steady Our FIRDAPSE. XXX diagnosed group of who demonstrated sustain long-term continue initiatives generally our significantly their accounts started yet a annual organic treatment patient of organic a ensuring on strong adoption supporting LEMS growth. at pipeline of our have This new and patient growth half strategic for various not to stages growth. steady enrollments, LEMS diagnostic patients We journey build around approximately

Additionally, to to the and antibody education potential calcium health patients diagnostic FIRDAPSE. progress be treatment the with aimed for testing, at rates of journey care helping programs with patient LEMS high we channel increasing are drive shorten providers to we with LEMS and continue making pleased eligibility voltage-gated

we QX, than of will accelerate institutions LEMS Based Finally, cell cancer undiagnosed. lung top with help to implement to more remain small diagnosis oncology on of continue thoracic that collaborate the XX% patients screenings which that is leading million, we and full FIRDAPSE's guidance us the into range. are narrowing XXXX indicators going $XXX the result $XXX million year lower of increasing our guidance between previous to of end

like I Next, to would discuss AGAMREE.

DMD. for AGAMREE's presence a treatment of the proud breakthrough are We market in as growing

robust AGAMREE's This expectations by our $XX driven million, performance with net sales its quarter, adoption. expanding exceeded of

to success. and care partnerships initiatives community have been strategic patient AGAMREE's benefits Our the about providers and health instrumental in this unique educate

from from both to continue XX% to We AGAMREE from corticosteroid EMFLAZA XX% and see prednisone. segments, transitions

prescribed top unique of the care than health AGAMREE. of DMD have providers XX% In addition, greater and already excellence XXX centers

business are approval. to XX% our and reimbursed days of X shipments exceeding We target less average than

approval expect guidance million the payers We raising between Based payer of AGAMREE our full to next promising months. and the on demand we XXXX to decrease couple year finalize product their trend landscape, policies and time are over to as encouraging net revenue the $XX $XX million.

provide Lastly, FYCOMPA. I brief to overview like would of a

its the In strength on of populations. $XX.X summary, its solid and our guidance our our of product year delivered revenue further results, course needs revenue our patient demand, steady product million to FYCOMPA achieve portfolio remains by million demonstrates FYCOMPA outstanding net performance net quarter, ability to position the This XXXX firmly of address million. market. sustaining QX diverse driven diversification. of between the and in $XXX has revenues QX fortifies $XXX full in

of commitment QX. have to Our forward committed meaningful is look their we strategic deliver to support want a on of been this to patients Catalyst commercial entire difference building for education that and to to drivers We the and lives momentum. this successful execution at continuing a I sustained to investments unwavering team in making thank patient key forward in and marketing, success, remain the patients. look

to turn will over Mike. now I call back the

Jeff. you, Thank

driven Our performance of execution. quarter along financial with strong AGAMREE set discipline for mid-March, financial on launch FIRDAPSE our during solid strong us sustained the another for and XXXX strengthened continued year, and foundation by performance successful in of FYCOMPA performance, third growth. has the pace has The of

our of for approximate product compared year-over-year $XX.X compared total to for to $XXX.X revenue of compared the deductions, were year $XXX.X to million. XX.X% $XX.X to when an Product million XXXX were revenues net were between lead increased for net quarter million, prior Product driven and FIRDAPSE of XX.X% and to tied government the revenues third an revenues $XX.X from million, third the agencies. a resulting of increase million, by for higher costs decrease million from FYCOMPA total net increase XX.X% the Our company the quarter arrangements XXXX. gross distributors $XX.X for third quarter period, XXXX

arrangements, cost for reflecting which lower. size For Product AGAMREE a $XX.X commercial net were were were XXXX, of revenues quarter the third the strength continued XXXX revenues of booked under in launch. million, the

was of reminder, the quarter a XXXX AGAMREE commercialization. As full QX second

is Japan. included a the earned receipt approval license and of million Additionally, LEMS treatment $X.X with of in milestone other upon to patients in DyDo's revenue commercialize for FIRDAPSE regulatory payment

we additional disclosed, are are price certain and products is DyDo. achieved previously to applied to As entitled transfer a if payments supplied milestones to

of expense of were $XX.X approximately in quarter XXXX of principally the to XXXX compared in sales million million Cost $XX.X quarter and of consisted the third royalties. third

$XXX royalties which reminder, of FIRDAPSE quarter surpassed million was when X% exceed second net sales a for year, the in calendar increased any during XXXX. product As by

cost result, trend As expect of to higher sales we progresses. the as a year

digits in royalty a on expanded in within sales are double of year. within mid-XXs and depending details achievements AGAMREE QX obligations carries revenue, XX-Q as Form net upon our our for a AGAMREE a range the Further on are the of low reported section. XXXX percent MD&A calendar Additionally, to royalty

million charge. $XX.X for R&D quarter Research income million were third expenses of million, Net was XXXX, million in SG&A principally third for XXXX commercial XXXX $XX.X quarter which loss down were $XX year-over-year in an the due development incremental $XX.X to in XXXX, third million income in compared continued XXXX support to third included third taxes expenses the the of XXXX. of the expenses net and the quarter the SG&A launch compared The million quarter in of increase quarter $X.X of of third an XXXX. improvement the operating to quarter before of a $XX.X of AGAMREE. million to expenses from $XX.X totaled for IP QX

expenses revenue, diluted driven fact the We income share and the third revenue is in of million of of FIRDAPSE GAAP increased reported net third of per quarter commercial or acquisition. charge XXXX, per or to as for $XX.X This XXXX quarter worth there launch for extremely $XX.X of the the of predominantly expenses by the GAAP focused to an income XXXX R&D million while in incurred for was company. cost increased noted net the noting diluted $X.XX net resulting remain AGAMREE administrative $XX.X share. compared $X.XX above, acquired the increase on selling, principally loss is in-process throughout from million the QX that AGAMREE incremental in the to management support general have related to a that It and disciplined approach due AGAMREE, we

Our through of rate months XXXX. year-to-date to was through the X tax first effective XX% of the X compared months XXXX XX.X%

many Our of in and effective stock likely to in affected tax is periods. number factors, including any fluctuate options by given the rate is future exercised period

have launched we commercially million release night. strong increased detailed and is full million, As March in which Jeff performance strong to primarily we between issued year of last this we revenue AGAMREE, XXXX performance our of on further press of continued FIRDAPSE year, which guidance in the $XXX $XXX and the mentioned, that based the

periods. elect if drug of will in we more make development, of that future future significant become However, products to R&D earlier expenses acquisitions our we expect in stages

timing we lower million be than on less be likely expense the believe the our previously provided and year of initiatives will R&D expenses, Additionally, due XXXX year-to-date full R&D based for guidance R&D-related $XX than significantly certain year. that will to

$XX.X our third Non-GAAP stock-based $X.X income, of or provision of income depreciation to $X.X the This diluted FYCOMPA tax of the related $X.XX net which million, net assets and of of Ruzurgi income, expense $XX.X depreciation of of $X.XX $X.X from of compensation tax income stock-based GAAP net was million net of AGAMREE share, of and $X.X loss acquisitions of of for non-GAAP of expense in a and FYCOMPA, or from $XX.X excludes benefit intangible million, of and million the compares assets related and basic to loss diluted of which amortization the $X.X million million, third share per to amortization XXXX $XX,XXX. per quarter quarter GAAP of compensation income our excludes Ruzurgi intangible million, XXXX acquisitions million $XXX,XXX.

in which mentioned, AGAMREE at XXXX, the recent on the North acquisition. America As rights feedback for in advance acquired to approval, Based the U.S. net IP and issued non-GAAP no has that R&D the for exclusive I Securities QX company required night. of of Exchange change SEC, acquired we expensed R&D reflected from FDA the or expenses. we press loss IP in the U.S. non-GAAP will in last been This adjust Commission, acquisition-related longer the income or reporting time we release

to million raise in $XXX.X in that $XXX.X cash in financial cash existing proceeds. of in balance allow to and part our by business The R&D portfolio quarter January meet As flexibility of sheet million September $XXX.X from remaining in strong through XXXX million would the capital our we $XX driven and net in business. commercial when million $XXX.X reported, our such generated We million million operations year-to-date XXXX. XX, driven the the of note potential support XXXX. we cash cash by ended approximately and cash strategic from continue to year-to-date generated equivalents resulted with the of as to as was compared X, third compared believe our that cash programs. increase initiatives in contractual to expansion, primarily development more The December cash fund and $XXX.X XXXX, of operations XXXX funds current like and obligations I us increase is September

Commission XX-Q, Relations website November filed on financial found XXXX Securities our and of analysis third which September be can our and with and in our on XXXX the yesterday, performance on was quarterly be and X, may the information Form page year-to-date found Investor detailed Exchange quarter at report More www.catalystpharma.com.

At turn call back I the this to over will time, Rich. Rich?

Mike. Thanks,

want I resilience the strategies our to growth. business Before the confidence we our and robust of in close, driving reaffirm long-term our

achieving continued consistent operational commitment have express our and like dedicated value. team sincere to quarter's our excellence to This commercial and innovation, our instrumental gratitude success. performance communities commitment delivering would in also in excellence our I to been my patient underscores whose to

is and our forward framework well look With our strategic Looking Catalyst in ahead, our commercial place, positioned stakeholder in sustain expanding focus our drive support, success. continued and coming is priorities our progress portfolio. solid momentum appreciate the to We a and on to executing we quarters. sharing

At call you. look this time, I'll your the turn the and back to operator taking to Thank forward questions.

Joon with [Operator Lee Instructions] And comes your of line from Securities. first the question Truist

will a And China? what in commercialize such the that be looking in trend question a as is, Japan FYCOMPA? then now adjustment first to how regions partner to this to gross we net curious available my And follow-up, for as forward? going FIRDAPSE other year, that commercially are drove what should expect in for So just you

that do you take one? want Steve, to

Sure.

Rich FIRDAPSE the previously in expect announced, other when we we year. into, investment the Japan report again the end As FIRDAPSE continue -- the market to And we we throughout -- territories world launched have expect more to described, evaluate we to sorry, we'll to and and about expand community I'm at to it. of say be that the

Regarding question. China, for thanks the

bring apparent opportunities they Regarding as China. continue explore to China, in clearer, become information we more that and we'll forward. And

So you. thank

Joon, Can your please? about you question repeat FYCOMPA,

curious drove expect sorry. adjustment gross FYCOMPA just that net the to should I and was going for forward? what to how Yes, trend we

Mike, that? you do handle want to

Rich. Thanks, Sure.

distributors, which we gross as the compared when higher, with government are previously agencies are we've year Eisai. in last to disclosed, So net under fees, were with reflected our to specifically TSA

what at where we is certainly long reflective of we as probably think have will fees So forward, be going those I would say as exclusivity. we're

to add on to want just I Yes. And that.

the prescription basis is solid. of the the in that As performance Jeff product his a of call from mentioned part

that's why on we And that. guidance reaffirmed so our

situation It's performing fees than is under are the well. agreements. product a where just, we if experience think, the we were I just would really higher Eisai's So

I with the of companies want experience. fees And size, thing consistent to our I our other one on that, are from my just add believe,

next question from line comes your of Bank Gerberry with America. And the of Jason

on is for Jason. This Pavan

there. you of or in of small real have source been? And growing or of And future still FIRDAPSE. uptake peak ramp, the AGAMREE, AGAMREE pipeline depleted? it if some question cell Is was should good opportunity the higher than speak on improved sort thoughts on First being any color be even growth how FIRDAPSE? you to sales Is identified to regards Can it potential. about Just or lung on then thinking patients candidates with with the what has steady wondering number patients? time near-term of Or the cancer comp? this a the Was point? over at EMFLAZA of EMFLAZA your we idiopathic

Pavan, thank Jeff, the want you take to X? first for do you the question.

total Yes. LEMS cancer The patients. of around our still XX% our it's of mix small XX% patients lung patient cell -- to total

very We strong that over very, percentage up expect So slightly there. time. do to go

these of patients lung to patients cancer treatment We small efforts small these focused LEMS for get cell cell cancer as undiagnosed. the addressable really that want patients helping lung are on help the Our tested currently these are then towards on XX% patients -- patients, FIRDAPSE. become getting treatment and

number, refilling a as As we've the these pipeline fantastic job goes, far patients. of this done

on become pipeline that with those we So patients backfill FIRDAPSE leads. patients patients, new active

number been maintain And at we least consistent at X term. over XXX in years. that it's X last of So XXX to the pipeline very near the expect to over patients

regarding you a last whether EMFLAZA question is the asked good Pavan, for on us. surrogate your --

And countervailing a absolutely but the launched, this. active And was that, I we there market, with thrilled but AGAMREE, voice. mean, the the want no in by really Certainly, an other with in we into launching We're of they is when EMFLAZA about launched, into market. the the take competitive competitive we're good market. I I effectively, to when the performance. it voice to think be was prednisone relatively surrogate, And market, had have clear account performance thrilled market. shape think no of there a I

a is EMFLAZA we relatively surrogate that up. good think end where could for We

that that of medical think in the echo the that early shared However, think over is the this team's better of experience, behavior bearing part is time. here early SUMMIT we marketplace, on think us one we have that And conferences. the for patients. seeing And opportunity study. we've performance We based for the the we have good. can of improved his a the I the That's from reasons to behavior markers, uptake on prove actually product. in the and data the we're And his what regarding and Jeff some believe we experience growth is out product, at for

think us EMFLAZA for a good is we at this So surrogate relatively time.

Jeff, want I you don't any comments. if make know to

to at the that want some Gary, know line presented a also that you any have he can make the about conference. speak well, as Gary data of to We data. and if on Ingenito -- comments I recently don't the was

well No, very I very received, exciting. And again, think the AGAMREE. data was in interest lots of

Your Duncan line with question of from next Cantor. Charles comes the

quarter. a FIRDAPSE AGAMREE I commercial questions on Congrats and nice had around versus strategy.

it seems when AGAMREE, it's all, you think With bit about FIRDAPSE, of like different. little a about finding new patients. it's First

you can understand us the follow-up the see SUMMIT And in on that a synergies commercial had then study. the I you So help efforts?

Charles. the Thanks for to turn over the Thanks. answer. for it question, I'll Jeff

approach. absolutely right. very the in different sales Charles, They're so you're

patients for FIRDAPSE. helping these Our on tested, are efforts treated really on focused get and FIRDAPSE then diagnosed

and over applied care health XX% FIRDAPSE, education towards our of a onetime we've So prescribers for point prescribers prescribers had these significant and only. education The to regarding time providers. educate very resources help for are FIRDAPSE long testing data

the a sure for to cast importantly, So specialists, that as are just net that neurologists there, we out but the make neuromuscular out there. physicians wide general have that we

with our coverage marketing nonpersonal force, sure and we a we So sales to efforts. have promotion -- have make other we're our broader

for living Dystrophy, a with prescriber. as very, Duchenne concentrated targeted far it's Muscular boys As very

living this past, up the in of make boys about with the XXX think prescribers XX% for DMD. I steroid prescribers mentioned we've

XXX excellence. about So we concentrated are. of know where the centers in They're prescribers

muscular diagnosed. So XX% Diagnosis, that's about Duchenne where of patients go. are dystrophy we

the for are focused about on living of DMD. AGAMREE really boys educating with there those efforts physicians benefits our So

selling that's that looks AGAMREE. significant making its about businesses really those it selling, our go we're how sharing competitive So benefits And front. like we of inroads on

is, That's for you provide I that's I'm little on could more a what study. follow-up segue on the of terms the the over And seeking what of year study next that are the of is my the number helpful. question follow-up, target label patients? great that in to enhanced course color that wondering bit guess anticipate you really, terms if is profile which in with My a you study? of product SUMMIT

Great regarding question, of target turn Gary? to we Charles. year, to Gary weigh can have and a I'm going us over also as as Gary can product seeking on then the in the that, we're next too. give well sense Jeff profile

Yes. study at progresses you. individuals. X-year It because, in know, a Thank different the DMD rates is as you study Well, is progressive.

at collect the most sense revealing So to not most only registry stages for quality, study. is are the looking that, They equipment. proper the you same the by the those activation transmural have AGAMREE. must data quality to pass must the through getting DEXA By the and the strain the the Catalyst seeking type activated, the for previous but a really, profiles x-rays. in usual We bone probably cardiac central for a in target have highest data long-term actually where each registry It's a site test. about of echocardiography. It's and qualified the not spine site have go facility. it's profile is that consistent mean, be we're the trained. that of reading steps The imaging, site the participating And They of we sub-study do the studies. -- traditional a I in

requires of training. site each sets X again, So

radiology in the bring cardiology department, to got You've the department.

that very progress will and of over to the we then we as X them profile their bone to have seen will that think in be I we believe able really to data prescribers site that next in on see we period and date, expect is into so effect already a what And get health. product, about then study The tracking enrolled preclinical for we the generated have time. is the patients activation, the which years positive clinical the

rates. fracture reduce will We

not then, will trials, over that limited And the muscle in we've of there already course, Phase will that be and the increase strength will weight and a as from long III mobility. in stabilize We perspective, produce demonstrated efficacy haul. cataracts preserve the

And your the Samantha next with line from Citi. of Semenkow question comes

curious switching? durability are know Just a I on quick And the in you're trend of seems seeing do I'm one stable the far it's Or some if patient patients be really the quarter. therapy in last then trends this your therapy shift stay so to early on tending after it any but point to quite expect as AGAMREE. launch, to mix will you at that again, compared continue? expectation Is to in future? on

question, this? do Thanks to for Sam. handle Jeff, you want the

rates Sam, what XX%, we seeing expected. on question discontinuations or your of first about durability AGAMREE, rates, positive discontinuation had we are very strong about discontinuation

last the over stable couple very of been that's months. and -- So

positive. yes, And the from prednisone specifically you EMFLAZA? a also mix, transitions talking about far are that's so the as as And and

exactly. Yes,

Okay.

that anticipated that significant, more switches corticosteroid that and transitions because for expect pretty we EMFLAZA So are mix positive and getting this very quarter. getting consistent. planning last do Sam, whereas we're stable right, they a lot the we we we shows switches. the It's on it that And across be initially the or segments, you're since launch, are us prednisone both to percent be are pleasantly to surprised consistently

So be that forward, pretty we moving to expect too. consistent

follow-up Great. And discontinuation rate. the on a just

that seeing And discontinue? what just really XX% in For the driving that you're on that, makes also can view? positive you is what your elaborate

drivers? was what And other XX% are What what is to as your typically question a discontinuation, see and had it's about the XX% meeting that forecast, we we that. good and Sam? that, gauge for

are What exactly. the drivers? Yes,

for available. Duchenne that new What's there fact lot that interesting are the the are and community products what's a great of is

of new products evaluation So and are this what that part that the on. approved as is they're of products becoming

if they for consider and So be gene do. have what therapy, to they're to example, a going on going -- to they're

so there it's to efficacy, should there But of to small choice, effects, that on that a discontinue no AGAMREE this they XX%. Nothing slight as out. far small be evaluate if just But stands number, percentage really is there, so have as number. patients some at a key -- contributor And side It's are they because point. a that.

temporary a it's discontinuation, So Sam, was that I talking.

patients these to AGAMREE, on expect. will over back go So that we they time,

call. that gentlemen, you all Thank today's and joining. for Ladies concludes

disconnect. now may You