Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) Q3 2019 Earnings Conference Call - Final Transcript

Nov 12, 2019 • 04:30 pm ET

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Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) Q3 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Thank you for standing by. This is the conference operator. Welcome to the Paratek Pharmaceuticals Third Quarter 2019 Earnings Call. [Operator Instructions] After the presentation, there will be an opportunity to ask questions. [Operator Instructions]

I would now like to turn the conference over to Ben Strain, Vice President of Investor Relations and Corporate Communications. Please go ahead, sir.

Executive
Ben Strain

Good afternoon, and welcome to Paratek's third quarter 2019 earnings and corporate update conference call. A press release with the Company's third quarter results was issued earlier today, and we have also posted slides in our website that will be referred to on this call. Both can be found at www.paratekpharma.com.

Participants on today's call are Evan Loh, CEO; Adam Woodrow, President and Chief Commercial Officer; Randy Brenner, Chief Development and Regulatory Officer; and Michael Bigham, Executive Chairman; and Sarah Higgins, Vice President of Finance, Controller and Principal Accounting Officer, will also be available for questions. I would like to note that Adam will be participating in the call from a separate location.

Before I turn the call over to Evan, I would like to point out that we'll be making forward-looking statements, which are based on our current expectations and beliefs. These statements are subject to certain risks and uncertainties, and our actual results may differ materially. I encourage you to consult the risk factors discussed in our SEC filings for additional detail. Evan?

Executive
Evan Loh

Thank you, Ben. Good afternoon, and thank you all for joining our third quarter 2019 earnings call and corporate update. It has been extremely busy and productive past few months with a number of important events for Paratek.

We generated $3.9 million in net revenues in the third quarter, primarily driven by the US launch of NUZYRA. Net sales from NUZYRA increased 82% to $3.1 million in the third quarter, over the previous quarter, and we also earned royalty revenues of approximately $900,000 primarily from SEYSARA sales in the US. We are encouraged by the performance of NUZYRA's launch so far this year, characterized by significant quarter-over-quarter increases in demand, particularly driven by the oral formulation as well as continued progress in securing institutional and payer access. As of the end of the quarter, over 75% of commercial lives in the US now have access to NUZYRA.

We have also continued to increase the size of our sales force in a disciplined manner with geographic expansion, as we target opportunities in locations, where we're seeing the greatest level of success in trial and access. We believe that these launch achievements, so far this year, are setting the foundation for future growth.

Earlier this month, we released top-line exploratory Phase 2 results in two urinary tract infection studies, which Randy will cover in greater detail. We are pleased that the innovative design and high-quality conduct of these exploratory and adaptive Phase 2 studies provided us data that has both identified a potential dose regimen for further investigation, and ruled out ineffective ones. This is exactly what drug development