Correvio Pharma Corp. (NASDAQ:CORV) Q1 2019 Earnings Conference Call Transcript

May 08, 2019 • 08:30 am ET


Correvio Pharma Corp. (NASDAQ:CORV) Q1 2019 Earnings Conference Call Transcript


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Good morning, ladies and gentlemen, and welcome to Correvio's First Quarter 2019 Financial Results Conference Call. Please be advised that this call is being recorded. On the call today are Mark Corrigan, CEO; and Justin Renz, President and CFO.

Before proceeding with the call, I will first read the Company's forward-looking statements.

Disclaimer: Statements, contained during this conference call, relating to future results, events and expectations are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company or industry results to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Company's annual information form.

I would now like to turn the meeting over. Please go ahead, sir.

Justin A. Renz

Thank you, Jessica. Good morning everyone and welcome to our first quarter 2019 earnings call. On the call with me today are Dr. Mark Corrigan, our Chief Executive Officer; and Mr. David Dean, our Chief Business Development Officer.

On the call today, Mark will provide an overview of recent corporate developments, then I will discuss highlights from our first quarter 2019 financial results. Mark will then provide some summary remarks. We will then open the call up for your questions, for which David will also be available.

In addition to the forward-looking statements disclaimer that Jessica read, I'd like to note that these forward-looking statements include, but are not limited to, a regulatory path forward with BRINAVESS in the US, including a resubmission of a new drug application and the timing of such resubmission, the timing and outcome of any decision by the FDA on the NDA resubmission, the timing of the launch of BRINAVESS in the US in the event that FDA approves BRINAVESS NDA, the possibility of obtaining an extension of the BRINAVESS patents in the US and predicted financial results for any upcoming time period. A detailed discussion of the risks and uncertainties facing Correvio are discussed in our annual and quarterly reports and detailed from time to time in our other filings with the SEC and Canadian securities regulators.

With that, I'll now turn the call over to Mark.

Mark H. Corrigan

Thanks Justin and thank you everyone for joining us on today's call.

Beginning on Slide 3. We have an overview of our current portfolio of marketed products along with two pre-NDA product candidates. This portfolio generated $28.7 million in revenues through 2018. The fastest growing segment of the business are the territories, where we marketed the products directly and not through third-party distributors. And that segment has been performing extremely well.

Very quickly, our marketed products are AGGRASTAT for acute coronary syndrome, which is sold in over 60 countries, both directly in Western Europe as well through distributors, BRINAVESS, for acute onset atrial fibrillation, is sold directly in the Nordic countries and Western Europe, and