KemPharm, Inc. (NASDAQ:KMPH) Q2 2020 Earnings Conference Call - Final Transcript
Aug 12, 2020 • 04:30 pm ET
Ladies and gentlemen, thank you for standing by and welcome to the KemPharm Q2 2020 Corporate Update Conference Call. At this time, all participants' lines are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference may be recorded. [Operator Instructions]. I would now like to hand the conference over to your speaker today, Mr. Jason Rando with Tiberend Strategic Advisors. Thank you. Please go ahead, sir.
Good afternoon, and thank you for joining our call today to discuss KemPharm's Second Quarter 2020 financial and corporate results. Before we begin, I would like to remind our listeners that remarks made during this call may contain forward-looking statements that involve risks and uncertainties and are subject to changes at any time, including, but not limited to statements about KemPharm's expectations regarding future operating results. Forward-looking statements are made pursuant to the Safe Harbor provisions of the federal securities laws and represent management's current expectations. Actual results may differ materially. KemPharm disclaims any obligations to update or revise its forward-looking statements, except as required by law. More complete information regarding forward-looking statements, risks and uncertainties can be found in the reports KemPharm files with the SEC, which are available on KemPharm's website at www.kempharm.com, under the Investor Relations section. We encourage you to review these documents carefully. Speaking on today's call will be Travis Mickle, KemPharm's President and CEO; and LaDuane Clifton, CFO. Following their remarks, we will open the call for questions. With that, it is my pleasure to introduce Travis.
Thanks, Jason, and thanks everyone for joining the call today. As many of you've already seen or heard over the last quarter, we've had a number of advancements on to our plan for KemPharm over the coming quarters. The first and foremost, we listed the NDA acceptance for our lead product KP415 by the FDA and received a $5 million milestone payment from our partner, [Comab]/GPC. With that as well, we received our Day-74 Letter from the FDA setting the PDUFA date of March 2nd, as well as letting us know that they do not anticipate the need for an advisory committee at this time. We also announced that Corium, a GPC portfolio company will actually lead the commercialization of KP415. I will go into this a little more detail, but this is a highly experienced organization led by many that used to be former Shire executives. In addition, we recently announced two patents that were granted adding five more years to the patent life for our serdexmethylphenidate, which is the pro drug in both KP415 and KP484. I'm actually going to ask LaDuane Clifton to give our highlights -- our financial highlights as well as our improved financial position updates.
Thanks Travis. In addition to those regulatory and product updates, our financial results for Q2 were also very positive. We reported revenue of $6.9 million, that's our fourth sequential quarter of earning services revenue, and it was comprised