Strongbridge Biopharma plc (NASDAQ:SBBP) Q2 2020 Earnings Conference Call - Final Transcript

Aug 04, 2020 • 08:30 am ET

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Strongbridge Biopharma plc (NASDAQ:SBBP) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by and welcome to Strongbridge Biopharma's Second Quarter 2020 Earnings Conference Call. [Operator Instructions] After the speakers presentation there will be a question-and-answer session. [Operator Instructions].

I'd now like to hand the conference over to your speaker today, Lindsay Rocco of Elixir Health Public Relations. Thank you and please go ahead, ma'am.

Executive
Lindsay Rocco

Thank you, and good morning, everyone. We are pleased that you could join us for Strongbridge Biopharma's Second Quarter 2020 Earnings Conference Call.

Joining me from Strongbridge this morning are John Johnson, Chief Executive Officer; Dr. Fred Cohen, Chief Medical Officer; Rob Lutz, Chief Financial Officer; Scott Wilhoit, Chief Commercial Officer; and Rich Kollender, Chief Operating Officer.

Before we begin, I would like to remind you that during this call, the company will be making forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ from the results discussed in the forward-looking statements. Reference to these risks and uncertainties are made in today's press release and disclosed in detail in the company's periodic and current event filings with the U.S. Securities and Exchange Commission.

I will now turn the call over to John Johnson.

Executive
John Johnson

Thank you, Lindsay. Good morning, everyone, and thanks for joining us today. Before I begin, I hope that everyone on the Eastern Seaboard, especially those in the direct path of the tropical storm, are able to weather it safely. Our thoughts and well wishes go out to those communities and the people who sustain them. That said, some of the Strongbridge team members, including myself, are calling in from impacted areas. So we want to apologize in advance for any potential background noise or unintended disconnections with our telephone lines today.

This call marks the first under my new role as Chief Executive Officer. After serving as Chairman of Strongbridge since 2015 and most recently as Executive Chairman, it was my pleasure to accept this position and to continue working hands-on with the Board, executive leadership team, and our talented employees to further deliver upon Strongbridge's mission to make a positive and meaningful difference in the lives of patients with rare diseases.

To begin, I would like to highlight a few of the key events from this quarter. Importantly, these achievements were made despite the persistent COVID-19 pandemic and its impact on how we conduct day-to-day business.

The second quarter marked our highest quarter of net revenue ever for KEVEYIS. We reported $7.8 million for the quarter, a 28% increase compared to $6.1 million during the second quarter of 2019. As a result, we saw a 38% growth in KEVEYIS revenue in the first half of 2020 compared to the same period in 2019.

Despite the initial uncertainty with how COVID-19 would impact both our field team's ability to interact with prescribers and patients as well as potential patient visits with doctors, we experienced a reduced but continuing flow of new patient referrals and new starts for KEVEYIS. This was coupled with