The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Maxwell Skor - Morgan Stanley - Analyst
: Great. Thank you. So based on some rough math, I'm getting to that you're expecting approximately, let's say, 30,000 patients on therapy through
2024, give or take. But could you provide any additional color regarding how you're getting to this number? Is it on the conservative? What could
potentially inflect or beat these expectations? And also, do you expect to record revenue in the second quarter? Thank you.
Question: Maxwell Skor - Morgan Stanley - Analyst
: Thank you.
Question: Maxwell Skor - Morgan Stanley - Analyst
: Great. Thanks.
Question: Patrick Trucchio - H.C. Wainwright & Co., LLC - Analyst
: Thanks. Good afternoon, and congrats on all the progress with the launch. Just first, I'm wondering if you can tell us what proportion of the relevant
patient population are covered at the time of this initial launch and your expectations for covered lives as the launch progresses in 2024 and 2025.
Secondly, can you talk further about the relevance of the reimbursement code, the HCPCS code, and when you would anticipate to obtain that
code from CMS? And is the achievement of your guidance in 2024 dependent on obtaining this code within a certain timeframe?
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And then just lastly, if you could talk a little bit more about the scale-up of production from the CMO, maybe around doses that are able to be
delivered in 2024, or if there's flexibility and the ability for the CMO to ramp up production to meet demand if it exceeds your expectations. Thank
you.
Question: Patrick Trucchio - H.C. Wainwright & Co., LLC - Analyst
: Great. Thank you so much.
Question: Kyle Yang - Jefferies - Analyst
: Hey, guys, thanks for the update. This is Kyle Yang for Michael Yee. Just a few from us. First question is, what is the assumption in terms of annual
cost? How many, I guess, doses are you considering for -- are you assuming for each patient?
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The second question is what is your assumption on OpEx? How do you expect R&D to decrease, I guess, in terms of, the buildup of the inventory
previously and how do you expect SG&A to go up? And the third question is how do you think about seasonality with the product, especially in
the first half of the year?
Question: Kyle Yang - Jefferies - Analyst
: Great. Thank you, guys.
Question: Evan Wang - Guggenheim Securities LLC - Analyst
: Hey, guys. Great to see the rapid launch readiness. A few questions from me. The first two on guidance. Does issuing this initial guidance imply
that you're confident that VYD222, or PEMGARDA, will retain activity throughout the remainder of the year? And then secondly, does the guidance
bake in any assumptions on a second entrant?
And then third question, unrelated to guidance, but more on R&D. For VYD2311, I guess how are you planning on additional development with
that program? Thanks.
Question: Evan Wang - Guggenheim Securities LLC - Analyst
: One follow-up for me. Just with respect to some guidance assumptions, I meant does it assume entrance of a competitor antibody?
Question: Evan Wang - Guggenheim Securities LLC - Analyst
: Thank you.
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