AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) Q3 2019 Earnings Conference Call Transcript
Nov 06, 2019 • 05:00 pm ET
Good day, and welcome to the AcelRx's Third Quarter 2019 Conference Call. This call is being webcast live on the events page of the Investors section of AcelRx's website at acelrx.com. This call is the property of AcelRx, and any recording, reproduction or transmission of this call without the expressed written consent of AcelRx is strictly prohibited. As a reminder, today's call is being recorded. You may listen to webcast replay of this call by going to the Investors section of AcelRx's website.
I would now like to turn the call over to Raffi Asadorian, AcelRx's Chief Financial Officer. Please go ahead, sir.
Thank you for joining us this afternoon. Earlier today, we reported our third quarter 2019 financial results and provided an update on our commercial launch of DSUVIA in a press release. This press release and the slide presentation accompanying this call are available in the Investors section of our website.
With me today are Vince Angotti, our Chief Executive Officer; and Dr. Pam Palmer, our Chief Medical Officer. Also with us today is Dr. Charles Lee, a Board-certified plastic surgeon locally here in San Francisco, using DSUVIA in a surgical suite with patients requiring various plastic and cosmetic procedures.
Before we begin, I'll remind listeners that during this call, we will make forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve risks and uncertainties regarding the operations and future results of AcelRx. Please refer to our press releases in addition to the Company's periodic, current and annual reports filed with the Securities and Exchange Commission for a discussion of the risks associated with such forward-looking statements.
I'll now turn the call over to Vince.
Vincent J. Angotti
Thank you, Raffi. Good afternoon, everyone. We appreciate you taking the time to join our call today. We're pleased to share the progress of the launch, including some details around the continued acceleration of healthcare institutions' access to DSUVIA, as well as providing another opportunity for you to hear from a healthcare practitioner experiencing the benefits of the DSUVIA in his practice.
As we've said previously, the initial phase of the DSUVIA launch is focused on education and awareness to achieve positive formulary reviews and REMS certifications, which sets the stage for DSUVIA's future adoption and our targeted healthcare institutions. 2019 objectives established to measure the success of the DSUVIA launch, 125 formulary approvals and 125 REMS-certified facilities, underscore this focus. I'm pleased to communicate that we're well on our way to having a successful DSUVIA launch as we've already achieved formulary approval for DSUVIA's use at 105 facilities and surpassed our REMS certifications objective two months early with 130 facilities now certified. We also expect to achieve our objective of 125 formulary approvals by year-end. And as a reminder, this compares to 43 formulary approvals and 51 REMS-certified facilities announced last quarter.
Q3 was the first full quarter with our 40 hospital account managers on board, and we've seen strong acceleration in our access metrics since they've joined.