Release Date: August 14, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Rapidly expanding commercial footprint and pipeline advancement.
- Consistent growth in net revenue across the second quarter with acceleration in early Q3.
- Advancement of pipeline molecule VYD2311, which could potentially expand the field of medicine.
- Strong focus on educating stakeholders about COVID-19 risks and antibody prophylaxis options.
- Efforts to improve operational posture and efficiency through several initiatives.
Negative Points
- Early net revenue results were not satisfactory.
- Low initial awareness of PEMGARDA in the clinical community.
- Perception among healthcare providers that COVID-19 is a seasonal threat, leading to delayed action.
- Challenges in securing reliable, high-quality partners for virus neutralization analysis.
- Supply constraints on PEMGARDA, limiting potential for international expansion.
Q & A Highlights
Q: Can you share more on your perspective on what needs to be optimized for success ahead of the fall immunization season?
A: Timothy Lee, Chief Commercial Officer: Over the last two months, we've focused on commercializing towards an infused biologic, which is different from the vaccine world. We've brought on a seasoned team and started digital work, corporate campaign work, and updating our PEMGARDA infusion locator. We're seeing increased awareness of the summer COVID-19 wave and engaging with the immunocompromised community to better understand their needs.
Q: How do you expect sales in the second half to be weighted, and do you expect any potential stocking?
A: Marc Elia, Chairperson of the Board & Executive Committee: We expect significant activity starting in a couple of weeks as people go back to school and indoors. September, October, and November are expected to be very big months for us. Timothy Lee added that there won't be stocking; instead, we will increase availability in the channel and provide inventory on a just-in-time basis.
Q: Is it reasonable to assume you'll hear about the second EUA by year-end, and what is the magnitude of this opportunity?
A: Marc Elia, Chairperson of the Board & Executive Committee: While we think the timing you're hypothesizing is reasonable, it's up to the FDA. The magnitude of the opportunity is significant as people commonly reach for treatment at a higher rate than prevention, but we are focused on rolling out prophylaxis.
Q: Does the infusion site locator reflect availability, and what efforts are you making to get into larger academic centers?
A: Timothy Lee, Chief Commercial Officer: The locator is being updated in real-time and will soon reflect all available sites. We are prioritizing major academic medical centers and private infusion sites to ensure access for the immunocompromised community.
Q: Could you provide an update on OUS (Outside US) filing status?
A: Marc Elia, Chairperson of the Board & Executive Committee: While we are exploring OUS opportunities, it may be more relevant for our next molecule, VYD2311, due to supply constraints with PEMGARDA. We are open to engaging with global regulators constructively.
Q: Can you talk about your visibility on ordering given we're halfway through Q3?
A: Marc Elia, Chairperson of the Board & Executive Committee: We've seen acceleration in commercial results into Q3, but the major push will be around Labor Day with the availability of updated vaccines and a public health drive towards COVID prophylaxis.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
