Menlo Therapeutics Inc. (NASDAQ:MNLO) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 08:30 am ET


Menlo Therapeutics Inc. (NASDAQ:MNLO) Q2 2020 Earnings Conference Call - Final Transcript


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Good day, and welcome to the Menlo Therapeutics Second Quarter 2020 Earnings Call and Quarter Update. Today's conference is being recorded. At this time, I would like to turn the conference over to Michael Wood of LifeSci Advisors. Please go ahead.

Michael Wood

Thank you. Good morning and thank you for joining us today. Before we begin with follow-up remarks, I'll remind you that some of the information in the press release issued by the company this morning and on this conference call contain forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words that express and reflect optimism, satisfaction with current progress, prospects or projections such as words, including, believe, intend, expect, plan, anticipate and similar variations identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. Such forward-looking statements are not a guarantee of performance.

And the company's actual results could differ materially from those contained in such statements. Several factors that could cause or contribute to such differences are described in detail in Menlo Therapeutics filings with the SEC. These forward-looking statements speak only as of today's press release and the conference call, and the company undertakes no obligation to publicly update any forward-looking statements or supply new information. In addition, the financial portion of this call will include certain non-GAAP financial information related to the company's operating expenses. The company has provided a reconciliation for such numbers in its earnings release. Participating on today's call are David Domzalski, Chief Executive Officer of Menlo; Andrew Saik, Chief Financial Officer; and Matt Wiley, Chief Commercial Officer.

At this time, I'd like to turn the call over to Dave Domzalski. Dave, please go ahead.

David Domzalski

Thanks, Michael, and good morning to everyone. This is an exciting time for Menlo as we establish the company as a commercial business in the dermatology space. As you know, we launched AMZEEQ at the beginning of the year. And although we have experienced some disruption as a result of the pandemic, our field force remains engaged. Based on the most recent prescription trends and other metrics that we follow for AMZEEQ, we believe we are well positioned to grow the brand as the market continues to recover. The FDA approved our second product, ZILXI, during the second quarter, which means we are in a fortunate position of having two products approved in a period of less than nine months.

Additionally, we strengthened our balance sheet with our most recent successful equity offering. Now beginning with the positive news on ZILXI, formerly known as FMX103, we now have FDA approval to market this product for the treatment of inflammatory lesions of rosacea in adults. This is the first minocycline product of any kind to be approved by the FDA for use in rosacea. We believe that ZILXI offers a unique proposition in rosacea and should receive broad market acceptance upon our launch with continued growth in prescription trends. ZILXI was approved on the strength of two well-designed Phase 3