Urovant Sciences Ltd (NASDAQ:UROV) Q1 2019 Earnings Conference Call Transcript

Aug 13, 2019 • 04:30 pm ET

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Urovant Sciences Ltd (NASDAQ:UROV) Q1 2019 Earnings Conference Call Transcript

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Presentation
Executive
Christine G. Ocampo

$92.4 million with the $30 million available to be drawn from Hercules Capital by September 30, 2019.

Now looking ahead to the second fiscal quarter of 2019. We currently expect our total operating expenses to be in the range of $30 million to $32 million as we closed out the open-label extension portion of our Phase 3 trial and continue our Phase 2 trial for the treatment of abdominal pain due to IBS and Part 1 of the Phase 3 trial for the treatment of OAB in men with BPH. And for the remainder of fiscal 2019, we expect our cash used in operations to be approximately $24 million to $26 million per quarter excluding anticipated milestone payment of $12.5 million that are due to Merck and Kyorin upon NDA filing.

And with that summary of our financial results, I'll turn the call back over to Keith for closing remarks.

Executive
Keith A. Katkin

Thanks, Christine. In summary, there are a number of milestones planned for the remainder of fiscal year 2019 that will continue to drive us toward the goal of developing Urovant into a leading specialty urology company.

To recap our recent highlights and near-term goals, first, the positive Phase 3 EMPOWUR results for vibegron will continue to be shared in more detail through publication and Congress presentations, which will further support our belief that vibegron has the potential to be a best-in-class OAB therapy, if approved by the FDA. The additional safety study of vibegron in men with OAB and BPH via an Independent Data Safety Monitoring board is on target to be completed by the fourth quarter of 2019, and we plan to move quickly into Part 2 of the pivotal trial for the significant unmet needs. Also with the Phase 2A protocol finalized for our novel gene therapy product for OAB, we plan to start enrollment by the end of the fourth quarter of 2019, and most importantly, we continue to make great progress on our NDA with the goal of filing by early 2020.

With that, I would now like to open the line for questions. Operator?