Clarus Therapeutics (CRXTQ) 31 Mar 222021 Q4 Earnings call transcript

Ladies and gentlemen, thank you for joining in the Clarus Fourth Quarter and Full Year 2021 Financial Results Conference Call. Today’s call is being recorded and webcast live on the company’s website at www.clarustherapeutics.com in the Investor Relations section, and it will be available for replay for 10 business days following this live call. Please note that discussions today may include forward-looking statements.

Forward-looking statements may involve a number of risks and uncertainties.

Some of which are beyond Clarus control and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. described include, the not inherited filed Clarus development, those uncertainties risks to, and with and Risk and with heading associated financial factors the risks Securities but the limited are the pharmaceutical Factors and These in the prospectus year under position, XX, XX-K including any December Commission, future of ended Exchange December filings SEC, for its that filed. those with Rule under and the SEC, Annual Clarus on Report are the on the when XXXX XXX(b)(X) XXXX, included XX, risk in statements as These circumstances forward-looking or of intent be law. may statements Clarus only or forward-looking call any except events reflect after speaks required date by the as of disclaims these to this date the obligation of update to statements and such

will Executive ahead, prepared to call the not taking to questions. I’d Founder, of over Chief go Officer the Clarus. time, remarks, sir. President be At like this Following and turn Dudley, Dr. Bob Clarus Please

everyone, afternoon, Officer, Ric for Clarus. Commercial is Financial Chief Good your joining our With and me you. our in Jaeger. appreciate We and Officer, Peterson; Chief interest Thank today. today us you Frank thank

with highlights. recent get our Let’s started business

of XXXX healthcare listed XXXX, have private of for XX% issued primarily to million all Two prescription We FDA’s were a the patents continued total seven. in very November will December, this Clinical products to hypogonadal the coverage screening ongoing develop with been quarter JATENZO. commercialization patient treatment Book, that with in Officer. JATENZO increase of closed JATENZO. new increase and clinical investigator-initiated Development important payer bringing the placement in promotion in And These in Jumadilova first XXXX. explore total of She Chief leading an protecting as potential this as advertising point, for year, for and XXXX. Orange new sequentially to which in across by chronic development our in January for proceeds a a study the of number JATENZO we investor experience for channels. an March brings pipeline indications we growth see be fourth JATENZO of the of we and clinical the initiate We XX% driven appointed Zhanna disease X kidney patents depth with men of JATENZO support year-over-year and In Phase the an of XX

the We expect to in announce XXXX. from results first of trial this half

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major able this are capital from media our avail are to in current address network in as focused needs, our we a to Assuming technologies and year channels. buying expensive piece is later ourselves highly that cry the far time a plan air

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status. our discuss Clarus’ financial Peterson, Officer Financial Ric? Ric Now, Chief will

$X.X million of million same marketing costs Fourth year with count general represents $XX.X to million XXXX. to to obsolescence prior compared December revenue company $XX.X million and the $XX.X reserves $X.X negative to attributable mostly $X.X for and year period a This be due Cost Gross $XX administrative company. for operating expenses. $X.X good XXX% compared and financial in higher $XX.X $X.X was JATENZO those will by the last Fourth for in fees head to brand. a million XXXX Bob growth everyone. and last for fourth represents marketing $XX.X This costs the margin last for in expenses million analytics, afternoon, the in operating the compared an period was year the million to year same To with full writeoffs of in inventory expenses margin years compared start expenses million in primarily were additional same $X.X million ended to year. expenses quarter public marketing full increase million Fourth increase were year quarter the and compared sales for and XXXX. expenses due quarter as consulting the this XXXX public Full driven was XX, costs to the X.X% year operating to XXXX, XXXX. with, financing increase to million million I for XXXX compared million represents going $XX.X Gross and compared an $X.X professional million compared compared the were to administrative years of JATENZO expenses compared and expenses million to activities Full that for quarter XX.X% to sales. compared same XXXX for in respectively. the were $X.X growth commercial XX.X% attributed and and Thanks, year a count $X.X goods period. and represents period XX.X% year fourth period associated year. personnel in in million increase revenue and was results. marketing were associated research to were an of $XX.X and This increase to an and profit expenses year. quarter and quarter over to general in for million $XX corresponding sold attributed XXXX $XX.X head million sales decreased in and XXXX. million were in last the XX.X% sales operating full Full

increased the research million in at were related And full For clinical primarily the the R&D, JATENZO represents the associated compared development compared in for expenses our a to R&D $X.X fees in previous licensing $X.X costs then commercial $X.X attributable and $X.X million year period looking with million were same million licensing year. XXXX. XX.X% and asset McGill to to HavaH lead to This increase, and agreements. in

April, of XXXX Our and cash current fund equivalents will XX, cash into plan as operations our XXXX. December

and could strategic we may purpose indebtedness not or maximizing be As the we the continue reductions, force asset bankruptcy including our sales of pursuant potential delay, strategic alternatives, marketplace. or Bob operations, our protections raise under limit to to while us Notwithstanding terminate devote code. efforts to identify, which challenges alternatives, well U.S. has value. the noted, seeking provisions or restructure successful, significant And for JATENZO of in alternatives to continued stockholder we including capital, perform other expect the workforce explore evaluate and to to

Commercial some Frank Officer will Frank? discuss Now, highlights. these Chief important Jaeger, of our

and and Thank Total to brand increase in Rick. in for XX% and JATENZO grow. the announce you, advertising fourth XX% quarter, primarily sequentially proud and the all Rick. year increased to experienced channels. continues milestones Thanks, that I’m across prescription promotion year-over-year driven payer has growth by full as JATENZO quarter in the coverage several fourth notable payer

driven the has following. growth been Specifically by our prescription

from with to First providers and and continue receive JATENZO. their feedback patients positive foremost, regarding experience we

increasing to to territories we increasing resulted to force sales have Second, of XX to have by their These States. changes testosterone therapy, made prescriptions coverage representatives and sales XX% from footprint. the our XX% sales ensure in from the replacement written number sales prescription all marketplace national United we the volume in optimizing the in XX territories of a overall

all in Despite fourth been to quarter rep waning able specifically, Next offices we live increase in COVID access presence calls. fact, calls to XX% we are access are the nearly Omicron’s our of increased seeing provider to with healthcare providers’ sales concerns physicians. of have

Additionally, seeing to patient offices And means and the to expect to return patient hypogonadism for patients finally, returning trend continue JATENZO. healthcare we more levels, we this we year. to see increased provider have back which are normal visits throughout

are now cover is course believe accelerated JATENZO throughout are over As plans co-pay the one in of of bulk success changes of our when we this United those had the JATENZO commercial class, all the channel the at plans the at to of look that you And assistance growth in continued class. that JATENZO. are commercial These prescriptions We are and in XX% poised coverage seeing the And access – of XXXX, JATENZO. end growth the year. to for where for year. the for overall lives specifically States, were coverage is significant have program. assistance, JATENZO of this payer patient coverage now JATENZO XX% patients written best And as in the the

an prescriptions the annual written This approximately patients In there seven TRT million a each are And is in at who patients than on our independent patients XXXX growing COVID. is market in market million this X.X in considering despite with X% years, large growth over year. a past over rate that the fact, number again, compounded large X it’s either their current are know nearly option. currently being represent with out hypogonadal who not diagnosed These stop of based million we eight survey or non-oral because over XX have treated opportunity greater an and X been that satisfied men are XXX treatment. patients

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in we of move we and are that beyond, the we are the the on about XXXX quarter second horizon. and impact excited put we and are into initiatives seeing have the forward place As

national expansion providers at less reach is a more that COVID becoming recent time our expect salesforce educate We a continue to footprint concern. of will healthcare when and

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seen quarter, new now coverage we with healthcare our payer in grow of to expect both providing already continue AssistRx, our in this the patients. Vault we will Health two continued commitment already our of underscore Also overall providing QX coverage patients, and launched year, which have to payer the overall to strategic increase to partnerships XX%. year for leaders We that and first throughout services in solutions

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significant direct hypogonadal new As treated launching we’ll in diagnosed Bob consumer now a and target we to appropriate will Bob? part previously the and forward. business, of currently really This that or will for And is television JATENZO be the future and other this updates. expect be campaign, recent as move that a pipeline of exciting patient. driver we growth that component provide will the

you, Frank. Thank

from in first X trial JATENZO, the expected treatment initiated hypogonadal the of Regarding investigator read JATENZO announced disease. out half results the patient that of for chronic of kidney And we with of first men the Phase screening clinical to for we the XXXX. initiation an in

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Next availability capital. of subject to

androgen second as particular for in testosterone combination product licensed We XXXX Therapeutics continue to candidates, be of a of diseases in would positive breast in pipeline including adjunctive positive, and breast periductal cancer. Havah initiation certain PDM advance and Phase of and Project is This in mastitis treatment these, of the inflammatory the CLAR-XXX, X for our from Australia in the anastrozol. XXXX. therapy estrogen May half for

technology Coenzyme in for the of and second CoQXX from and of secondary the the For treatment primary related of combination forms with and is of of mitochondrial CLAR-XXX, X which September licensed projected XXXX this QXX initiation + half University caspofungin in McGill dysfunction Phase is deficiency of XXXX.

property now total for intellectual coverage have JATENZO, XXXX. as a in listed the we quarter, seven Book providing noted of Orange patents Regarding fourth highlights, to earlier

for conferences upcoming offer along JATENZO. showcase the us two waited to opportunity Finally medical

affairs For urologists medical important we May in of These the, the what June, live. just excited interact commercial before three Clarus medical since a a JATENZO presence personnel two COVID, and medical first be in in extremely – COVID, endocrinologists that time was and at with meetings medical the gathering. common first Landscape have altered the to meeting and will both significant was annual are launched, these weeks since opportunity represent can Institute,

New will meeting at the least Society Endocrine Society presented to and abstract XX XXrd in So the in in these Androgen excuse Orlando. at Orleans two Androgens we meetings have the mention, meeting are meeting the And I me, Atlanta. AUA, in the one April should

and as directors for for operator our our we support. on thanks sincere stockholders close to call our to So all partners my now of back Thanks all, team our work turn behalf. wonder. thanks Clarus hard our to to external to also their their the and I’ll

this for today’s Thank participation. Thank conference you, ladies and gentlemen, call. your you concludes

disconnect. now may You