Q4 2019 Earnings Call

Ladies and gentlemen, thank you for standing by welcome to the Dumbest fourth quarter 2019 financial results Conference call.

At this time, all participants' lines are in listen only mode.

Our speakers presentation, there will be a question and answer session.

I asked the question during the session, we need to press Star one where your telephone.

True for any further sisters, Please press star zero.

No nothing at the conference or what your speaker today, Peter Vozzo Investor Relations. Thank you. Please go ahead Sir.

Thank you, Chris and good afternoon, everyone before we begin I would like to remind everyone that this call will contain forward looking statements, which are subject to risks and uncertainties any statements regarding future events results or expectations are forward looking statements. Please note that these forward looking statements reflect our opinions only as of the date of this call.

We undertake no obligation to revise or update these forward looking statements in light of new information or future events, except required by law.

Emission concerning factors that would cause actual results to differ materially from those contained in our implied by such forward looking statements are discussed in greater detail in our form 10-K filed to get it today with the FCC, especially under the caption risk factors I'll now turn the call them to Neil <unk> Chief Executive Officer.

Thank you Peter good afternoon, everyone and thanks for joining us I'm pleased to be here with VJ Shreedhar, our chief commercial officer, and Chris practice, our Chief Financial Officer.

2019 was a productive year for Dallas, we continued to make progress educating healthcare professionals patients and caregivers on the disruptive impact of disclosure and off time, while differentiating go covering to drive adoption and reduced barriers to access.

Due to the initiatives implemented in the latter half a year, we're seeing improved patient and physician demand as well as improved operational effectiveness.

In addition data from our open label Phase three easily to trial recently published in the journal of Parkinson's disease shows that are wide cohort of patients taking go coverage experienced long term reductions in both disc in Asia and off time sustain for at least two years.

This data not only expands our knowledge of the efficacy of go coverage in the real world setting, but also its long term safety in treating Parkinson's disease patients.

Competence, we haven't our growth strategy for go coverage strengthened by the strong patient persistency, we continue to observe positive physician feedback on the benefits of go coverage and our ability to implement commercial strategies to improve access.

In 2019 product sales increased 60% over the prior year, creating a strong foundation to build upon in 2020.

In a moment VJ will offer additional perspectives on the current go covering market dynamics.

Regarding Ats 51, or two during the fourth quarter of 2019, we announced topline results from our inroads phase three trial for multiple sclerosis patients with walking impairment.

For whom there is a significant unmet need and limited treatment options.

This well executed study hit its primary endpoint showing a statistically significant improvement in walking speed and a potential benefit for these patients.

As we stated previously we will continue to assess the value and potential path forward for this program as we complete market research and further analyze the inroads data.

Our evaluation will also be informed by the ongoing open label extension study utilizing the 274 milligram dose of Ats 51, or two and we expect to deliver our assessment in the first half of this year.

As we move into our third year of commercialization.

Building on our recent progress and remain focused on.

On driving commercial success, Pergo carvery, whilst determining a path forward for Ats 51, or two in multiple sclerosis and walk in impairment.

Our ability to continue to invest strategically and go coverage has been strengthened by the recent pedal setting that patent settlement would send us the agreement granted send us a nonexclusive license to begin selling its generic version of go coverage as of March 4th 2030 or earlier in certain circumstances and then.

Enables us to maximize the number of patients who may benefit from good coverage and deliver sustainable value I'll now turn the call over to VJ.

Thank you Neil and good afternoon, everyone.

He did great to be speaking with you today.

I will begin my comments with an overview of our performance in Q4.

Provide an update on the progress we've made in our key strategic priorities and then outline our plan to build in our momentum.

Starting with performance Q4, good Colgate total paid prescriptions that exclude product from the free trial program Rose to 7160 scripts, representing an increase of 8% versus Q3 of 2019 and 25% versus Q4 Oftwenty 18.

[music].

Total paid prescriptions for 29 team were 25780, representing a 66% increase over the 15500 total paid prescriptions in 2018.

This continued quarter over quarter growth in total paid prescriptions is encouraging.

There were 750, new patient starts in Q4, which included free trial patients and new paid prescriptions or and Rx patients who did not receive free trial. This represented a 6% increase quarter over quarter, which is generally in line with what we've seen in previous quarters.

Persistence remains strong and steady at 55% to 60% at six months and 45% to 50% at 12 months again, highlighting the value good coverage is bringing to patients.

Conversion rates from the free trial to paid prescriptions registered an increase to between 50 and 55% in the quarter a topic I will elaborate on in a moment.

Moving forward, we would transition reporting from new patient starts to and Rx given that this is the third year of launch and the free trial program is entering its second year as well.

Our analyses show that Q4 demand was driven by two factors first a continued increase in new prescribers as we registered a similar number of new to brand health care practitioners trilingual Cobra in Q4, as we did in the previous quarter.

Second we saw a stabilization of demand from current prescribers as discussed on our previous earnings call. We rolled out an action plan to optimize the activity of our Salesforce and to increase your voice in high volume prescriber offices, and we are encouraged to see early signs of the impact that this is having.

Moving on to progress within our key strategic priorities as Neal indicated before because our efforts on three areas.

Educating physicians to increase urgency to treat.

Driving appropriate trial and adoption of recovery and streamlining our fulfillment process.

I'm pleased to report that in Q4, we continued to make substantial progress in each of these areas.

First we focused on increasing the urgency to to treat by educating healthcare practitioners to recognize the disruptive impact of disconnect and off time.

Our multichannel disease State campaign, specifically targeted physicians treating a high number of Parkinson's disease patients and generated over a million impressions in the quarter with a robust key action rate by those who viewed the content.

Essentially this means that we have our target audience viewing the content and following through with visits to our web sites and downloading resources, which is good.

We supplemented this campaign with new materials and training to enable our salesforce to have patient focused discussions to highlight the importance of systematically recognizing in diagnosing appropriate patients and to articulate the good called preclinical profile more effectively.

We also increased our investment and focus on peer to peer education and on physician delivered patient education programs. In Q4, we saw significant increase in both the number of programs and attendees versus the previous quarter reinforcing the clinical interest we see amongst physicians.

And patience.

The majority of patients what attended the program indicated that it was likely that they would talk to their doctor about Dyskinesias Andorra recovery.

Most physicians indicated that they were likely to prescribe recovery for clinically appropriate patients after attending our program.

Second we focused on increasing awareness of our four week free trial program through digital marketing and through the new prescription form.

We rolled out new remind to resources for physician offices to provide easier access to the program for clinically appropriate patients.

We continue to evaluate all elements of the program to expand trial of the drug amongst not adopters and to serve patients better.

Lastly, we focused on improving the customer centricity of our fulfillment process to ensure that it is simple reliable and transparent.

The new prescription form introduced in the quarter saw rapid uptake and early data suggests a 25% reduction in errors during submission with this new form underlining the positive impact of this change.

The good coverage care coordinators, a dedicated single point of contact to streamline communication for clinics and patients received favorable feedback and preliminary surveys fielded so far.

We believe that the impact of these changes contributed to an increase in the conversion rate from free trial to paid prescription with the new rate rising to 50% to 55%. We are highly encouraged by these early signs and we'll continue to focus on further enhancing our distribution processes.

Moving onto our plan to further build momentum.

We are focused on increasing both breadth and depth of go re prescriptions for appropriate patients.

To expand our base of prescribers, we intend to continue to intensify peer to peer education and digital marketing efforts.

To increase use amongst the current prescribers, we intend to continue optimization of salesforce activity and messaging as well as enhancing the customer centricity of our fulfillment process from physician prescription to patient receiving drug.

We're pleased with the progress we've made thus far and by the positive feedback we continue to receive from healthcare practitioners, including regional and National thought leaders.

I will now turn it over to Chris to provide an overview of our financial performance and to highlight the metrics that we will be reporting on moving forward.

Thanks, BJ and good afternoon, everyone.

Please refer to our press release issued earlier today for a summary of our financial results for the fourth quarter and full year 2019.

As we highlighted in our preliminary sales announcement in early January we're pleased with our fourth quarter go covering sales, which reflect continued advancement of our commercialization efforts.

Fourth quarter 2019 product sales were 16.3 million, a 17% increase over 13.9 million in the third quarter of 2019.

And a 23% increase over the same quarter last year.

For the full year 2019 go covering product sales were 54.6 million compared to 34 million for the full year 2018, an increase of 60%.

R&D expenses expenses were 5.2 million for the fourth quarter 2019, compared to 6 million in the prior quarter and 10.6 million for the fourth quarter 2018.

Full year R&D expenses were 30 million for 2019 compared to 39.3 million for 2018.

The decrease was driven primarily by completion of enrollment for our inroads trial in the second quarter 2019, as well as deferral of the Ats 40, 101 program, which was discussed on our Q1 2019 call.

During the fourth quarter of 2019 as DNA expenses were 30.3 million compared to 31.2 million in the third quarter 2019.

And 27.6 million in the fourth quarter of prior year.

Full year EPS DNA expenses were 114.4 million in for 2019 compared to 109.1 million for 2018.

Our SDMA expenses, primarily reflect our investment in driving the growth of go coverage through patient and physician adoption and a better customer experience.

Cash and investments as of December 30, Onest 2019 were approximately 133 million.

Overall cash burn for the fourth quarter was consistent with the prior quarter out approximately 18 million.

We believe this is sufficient capital to continue our near term strategy to increase the number of patients who can benefit from go covering.

Now, let me turn to our outlook for 2020.

We anticipate there may be an impact on product sales as a result of typical first quarter factors such as benefit plan year resets impacting the done a whole liability and commercial co pay deductibles.

For 2020, we expect to gross to net percentage in the low to mid Twentys for the first half of the air and for the gross to net percentage to decline over the second half of the year to the mid teens.

As we announced in our press release, we expect R&D expenses for 2020 to be in the range of 10 to 15 million or approximately half of our R&D spend from 2019 as we focus on closing out our inroads study as completing the open label extension study by the end of the year.

This R&D expense range includes 2 million of stock based compensation.

We expect SDMA expenses for 2020 to be 110 to 120 million consistent with our SGN a spend in 2019.

This range includes stock based compensation of 9 million.

We are making the appropriate investments in the business to position go covering for long term success as we invest an additional capabilities and collateral to ensure go cover is able to benefit those indeed.

In summary, we expect total operating expenses for 2020 to be in the range of 120 to 135 million with $11 million of the spend related to stock compensation.

This compares to 2019 operating expenses of 144 million of which 13 million was stock compensation.

As BJ mentioned previously beginning with our first quarter 2020 results call. We will report and Rx defined as new paid prescriptions as we believe that will be a more useful metric going forward.

Consistent with our current practice, we will continue to report Trx defined as total paid prescriptions, including both new and recurring.

12 month persistence rate defined as number of patients continuing to receive therapy and conversion rate defined as the percentage of patients that transition from free trial to paid therapy.

With that I will now open the line for questions operator.

Thank you.

And as a reminder to ask a question you need to press star one of your telephone.

To withdraw your question. Please press the pound key please stand by what we compile the <unk> when a roster.

And our first question comes from the line of Marc Goodman with SVB Leerink. Your line is no.

Hi, Thanks for taking my question a this is duty on the line from Mark Oh, So how could two quick questions first talk about the payer access.

The trend.

In the first two months in 2020.

The second can you provide some updates on the epilepsy program that has been put out hone last year.

Thanks, Rudy this is Neil I'll ask VJ to touched on the first access question then I'll take care of the 40 101 question.

Okay.

Thank you Rudy.

We are committed to making good Korea as broadly available to patients as possible.

We continue to see that prescriptions are being paid through the prior Rob mechanism, coupled with medical necessity for both commercial and Medicare plans and so we see patients getting access to the drug.

We saw that all through 2019 without any significant change in access and we so far to your question see the same in Twentytwenty.

One thing I would add I think is from appear aspect access perspective, we see current appear approval rate of 93%.

Regardless of formulary status.

Off of prescriptions coming through from position. So we feel very encouraged about what we see from a PR access perspective.

Rudy in regards to your question on our 41 or one program. We've been actively evaluating the value that program the value of that program. Both from an internal perspective, and an external perspective, and we'll announce on what that the outcome of that is when.

We deliver on that.

Thanks.

<unk>.

Thank you and our next question comes from a line of Stacy Q with Cowen and company. Your line is though.

Congratulations on the progress and thanks for taking my questions that yeah.

First time can you provide a guidance from what you expect to see interim assistance for 2020.

And then more broadly can you help us understand what the Salesforce is focused on this year remind us the challenges they're focused on for the current ongoing quarter and how should we be thinking about the cadence after coffee sales this year.

One more.

Great BJ you want to start with the first yes, so guidance in terms of persistency rates, we've seen the persistency rates remained strong and stable since launch and we analyze them on every cohort that has joined in in terms of patients every month and that has remained stable and I would.

I would say that that we predict that they would remain the same for the rest of the year. So from a sales force perspective.

Here's what here's what we are focused on the three areas, where we think we can accelerate momentum for recovery.

It basically number one increasing the urgency to treat to Salesforce is focused on disease State education, supplementing what we do from a disease.

Awareness digital program that we have ongoing so the sales forces out there talking about the disruptive impact of disclosure and off how the two are interrelated and the burden on patients and caregivers as they go through these motor complications. So that's one area, they're focused on and the other areas really articulate.

Leading the unique clinical profile of go quote free to drive adoption.

By ensuring both breadth in terms of number of prescribers jumping on as well adept in terms of how many patients the identified within their practices to to be appropriate.

But they considered to be appropriate for good coverage.

The sales force is also very actively focused on.

The fulfillment process education, with an offices and and ensuring that the practice has a very clear visibility into how to get access to go forward. So the salesforce is busy with all of those things and you said you had another question.

Stacy maybe just before we move to your second question I want to point you also towards the data that was published a this quarter actually on our easily to data that just as a reminder, that their phase three double blind study yeah, sorry open label extension study.

That provided the long term reductions in both disk and easy and off sustain for at least two years and I think that's an important perspective as we think about persistence. It continues to be also in the clinical data.

That that we've just realized.

That's really helpful. Last question I'm, just wondering if you guys. When do you think you guys will feel comfortable providing.

Production of revenue.

Okay.

Hi.

We're going to get Chris into the call here.

Thanks, Stacy will get Chris another call here, yes, as we think about you know VJ has been onboard now a couple of quarters and Neil just entering into a full quarter number two you know I think we look at needing to.

The important thing to think about as we put so many of these new commercial tactics have come into the market in Q4, and even more recently than that so we need to really see a little bit more time to go by and see what trajectory. We're on and then we'll be in a position to.

Give people a little more thoughts around peak and what revenue guidance might be.

That's really helpful. Thank you.

Thank you and our next question comes from the line of Jason Butler with JMP Securities. Your line is now open.

Hi, Thanks for taking the questions I just had to can you give us a sense of how penetrated you think you are among your longer term prescribers say those they've been prescribing for more than a year and how much more room you have to grow in those establish prescribers and then second.

Question is can you give us some insights into where does occur why patients are not transferring from freeze prescriptions to.

The paid as it is it just not getting coverage are there other reasons for that happen. Thanks.

Oh, that's VJ to talk about our building on momentum here moving forward.

So the first question was essentially with regard to depth of prescription.

As I understood it from a established physician perspective.

What is the head room to grow in terms of numbers of patients.

We think we have tremendous headroom in terms of number of patients in north established prescribers.

We have had a lot of trial, but when we look at number of prescriptions.

On a on a per capita basis from a established prescriber, we see tremendous opportunity to grow which is why where we're committed to is to optimize our salesforce activity in identifying or helping physicians understand the urgency so that the identify patients within those practices that they think auto.

Appropriate and also ensuring that our fulfillment process is seen as as simple and transparent and reliable so that they feel the comfort and expanding utilization for appropriate patients within the practice. So that's the area that we're focused on your second question was with regard to why do we see a falloff.

From free trial to two paid prescriptions, we see does a combination of a variety of factors.

I think one group of factors was related to process. It involves between a free trial and the patient getting a paid prescription. It involves a set of activities by a physician's office. It involves a set of activities by the patient themselves and so therefore the process.

Could be a.

Simplified further which is why we have added in the go koby care coordinators to provide a very.

Visible presence in a single point of contact presence for the physician's office and the patient in order to get that communication going why because there may be instances, where the prior auth is not completed the right people work is not submitted or the patient doesn't answer the call and so on rate. So the process is one we focused on the other area, where we see.

An opportunity is to ensure that we we continue the patients.

Filling out and requesting when appropriate.

Raising their hand for resources to help them with their co pay and out of pocket costs right. So when we see that happening well, we see that patients get on therapy, well, we do not see payer coverage is the reason why there's a drop off at this point.

Okay, great. Thanks for taking my questions.

Thank you and our next question comes from them on them, David and send them with Piper soon the your line is no.

<unk>.

Thanks, So just a couple first just a general sort of business development question and I know Neal that use you've alluded to wanting to to bring in assets I wanted to get your latest thoughts on how you're thinking about that and what kind of bandwidth you have to.

To add any any assets and then as part of that question what is your appetite for taking on.

R&D risk going forward from an acquisition of other company or NASA.

And then and then secondly, this is sort of a longer term question on discovery that they wanted to get your thoughts on where you think gross to nets up my trend over the long term and I guess, that's tied into two contracting so how should we think about not so much really fit this year, but you know as we think about the future the product beyond 22.

Many thanks.

Thanks, David I appreciate the question.

So let me maybe start by by telling you a little bit about what we have right. We have in my mind, a proven late stage development.

Organization that knows how to.

Due late stage trials and doing well quality outcomes as we've seen in our 51 or two program and than previous trials that have been run. In addition to that we've got the commercial capabilities with a single asset in our organization experienced in neurology and.

And an infrastructure within our our broader organization that allows us to be able to leverage it and bring in new assets, but when we think about that we're thinking about that as a secondary mission because we're not we don't have any.

Undue pressure to being able to move forward in any activities in that that nature from a BD perspective, we feel we're adequately capitalized and we feel like we've got the ability to continue to run without raising significant capital.

To get us to cash flow breakeven now with that we want to be able to complement our portfolio and be disciplined in what we do with anything that we can actually leverage today, so that late stage development and commercial expertise in neurology and maybe I'll stop there on the BD side because.

You asked another question in regards to gross to net.

Yes, David so from a gross to net perspective, as we think about 2020, just to kind of recap what we alluded to on the call. We think about the first two quarters because we're so heavily part D to be influenced by the donut hole. So that it's somewhere in the range of the mid Twentys, maybe in Q1 in Q2, and then we start to stairstep.

Down as people go into catastrophic coverage and on the commercial side, you know people reach their deductibles and so probably end the year in the mid teens from a gross to nets standpoint, maybe from a philosophy standpoint about contracting going forward all I'll point to VJ, yes. Thanks, Thanks, Chris I will I will repeat.

We are committed to making good korea's broadly available to patients as possible and committed to reducing barriers.

Between the physician prescription and the patient getting drug as best as we can so we're looking at all options and exploring various options, including contracting and that includes payers that includes institutions such as.

I'd ends and many other options right. So we will provide updates as needed, but we're committed to ensuring this axis.

And reduction of barriers.

Okay. That's helpful. Thanks, guys.

Thank you.

And our next question comes from the line of Tim Lugo with William Blair. Your line is now open.

Thanks for taking my question I believe a quarter or two ago, you had a push into broadening the prescribing base can you give us a sense of maybe.

How many of the new starts are coming from new physicians and is.

An area of focus or is it really just deepening into the current prescriber base.

Yeah.

We have made increasing the breadth of prescription an important focus of ours. So we plan to build on momentum both by increasing depth and breadth.

So to your question we have seen.

In a couple of a quarter ago, we reported a pretty dramatic increase in terms of number of new prescribers coming on board to trial. The drugs. We have seen similar numbers of physicians jump on in Q4 as well. So we're very encouraged by that.

We have a lot of headroom in that area, where a lot of physicians have not yet trial. The drug. So we continue to keep that as one of our major areas of focus for growth.

So so let me leave it there.

Okay, maybe and could you talk a bit about spending incremental dollars in sales and marketing.

Is that really the area of best investment.

As you see it.

Broadening that.

Or sounds like there's also a lot of changes within the organization Distron kind of general blocking and tackling the comes with prior authorizations and you start forums and.

Maintaining persistence.

Yeah, Tim that's a great question and we do think that the opportunity for us to dynamically allocate our resources towards go coverage commercialization makes a lot of sense for us as BJ mentioned, we have a lot of headroom in regards to growth opportunities for this product and go coverage, we see that.

The product works with our persistency and now with the easily to data and the long term clinical data out to two years in reducing both disconnect and off.

And quite frankly, we feel like we're just on the tip of the iceberg at this point, so and Matt maybe I'll also say.

Say that were even.

We're further I'm confident based on our Sandoz settlement, where we've now.

Reached a really good outcome would sandoz and we've got the room now for the next 10 years through 2030 to be able to continue to invest in growth of go coverage.

That's great to hear thanks.

Thank you.

Our next question comes from the line of surged Ballenger with Needham and company. Your line is open.

Hey, Thanks this is.

Sorry, 10 on for search.

I just had a question for the persistence rate for currently.

Which is that 40% to 50% right now so do you have any data or or plan to provide any data beyond the 12 month that you guys currently have.

And then on discontinuation rate I think it was about 14, 20%.

That was included in the extension study so is this I.

I guess relatively in line to what you're seeing in the real world.

Yeah from from a perspective of persistency I will tell you. We're very encouraged by the new data that was just published that we referred to the easily to data that show us.

The real world evidence of go very benefits.

For the patient over a span of two years.

Improving both this good news and off from a reporting perspective, we remain pretty thoughtful in what we present, a two health club monitor the business and we're committed to providing the metric that is the most useful so far from a cohort perspective I think the 12 month persistency is the most useful.

To provide output will continue evaluating that in.

And we'll keep you updated on.

Thank you.

And our last question comes from the line of Ram Selvaraju with H.C. Wainwright. Your line is now open.

Hi, Thanks, very much for taking my question. So I just had a couple of quick housekeeping item I was wondering if you could just give me a clarification on the percentage of new patients who got onto go covering via the free trial program in the most recently reported quarter.

The vast majority of patients who receive go read.

For the first time come through our free trial program, which is why we're so encouraged by how that program is continuing to help us drive both breadth of prescription and help physicians trial. It for their patients exactly at the program was intended.

But I mean, if we think about this from a percentage standpoint is that like 80% or 95% can you give us a sense.

It's the vast majority so let me leave it there.

Okay.

Do you expect to now or do you have some kind of timeline in mind regarding potential winding down or ending of the free trial program is that something that you expect to persist.

You know for the next couple of years, if that's something we could potentially see you dialed back you know prior to the end of this year just give us a sense of what you're thinking is regarding that strategically you know as part of the overall the recovery commercialization strategy.

It's a great question right. So so our overarching goal is to increase the momentum and accelerate the growth for the brand and we do that when we look at breadth and depth. We look at the opportunity that is still unrealized out there from physicians, who have not yet trial the product perspective in the number of patients who are you.

Got to benefit from the drug perspective, where we look at those metrics, we have tremendous headroom.

In order to expand utilization and trial of trial and utilization of the drugs. So my simple answer would be we continue to evaluate that on a monthly if not quarterly basis. When we feel like we have driven breadth to as far as we can using the free trial program is when we would start to scan it back we don't see that on.

The horizon right now.

Rob just quickly this program as BJ mentioned is working.

But it also the right thing for us to do from a patient prospective.

Patients are able to get on product much sooner physicians or be able to understand and utilizing this program.

If the product is working for the patients and also as they go through the.

Prior auth process and all of the other processes medical necessity and so on and so forth to get patients on drug. This is are the right thing to do for patients. So as we continue to utilize this ER to increase our patient experience in our patient Centricity. We also see this as an opportunity to.

A patient on the product with the right experience to begin with.

Okay I just wanted to ask a question about the competitive landscape. How familiar are you with the drug called dip for the program and do you see that as a potential long term competitive theoretical capacity within the PD lead indication what potential sustainable advantages do you expect.

Recovery to have versus this compound, which I believe is currently in sort of mid stage clinical development.

We're aware of the the program and we'll continue to track and it is as it goes through its from mid stage to late stage development.

Okay.

Then just very quickly do you expect to see the the typical kind of revenue dip that we have seen historically for this quarter versus the fourth quarter of 2019 or do you think that there could potentially be some sequential growth quarter over quarter, one Q 20 versus Fourq, you and I keep.

Yes based on being such a high part D and then commercial.

Hi, part two thirds part D and a third commercial we've really mean that Q4 has a very low gross to net for US and then with all the various typical first quarter resets that the gross to net is high for us and we would predict that it would be somewhere in the mid twentys in Q1, So we do.

I expect to have a little bit of pressure on the revenue side, maybe be jail I'll point to you is going to add anything there yeah. The only thing I would add is that we were very proactive and have leaned in on that.

Knowing this is a system wide issue across all companies.

Beginning in in the beginning of Q4 in October Argo covering care coordinators.

Started making calls to patients understanding that the benefit plan resets, we're underway and have been reaching out to both offices as well as two patients to try to help us be ahead of the issue as best as we can so we've made our effort by being proactive there and we feel.

We feel that we've we've done the best effort from our side to navigate what what happens generally system wide in Q1.

Okay and then last housekeeping question for me is do you have any updates at this juncture regarding the status of the qui Tam lawsuit.

Do you don't have any updates for you at this point Rob.

Thank you.

Thank you and this concludes today's question and answer session now, let's turn the call back to CEO Newman from for any closing remarks.

Thank you. So looking ahead through 2020, we remain focused on optimizing the opportunity for go covering in Parkinson's disease patients with Dyskinesias and off time and determine in a potential path forward for Ats 51, or two in multiple sclerosis patients with walk in impairment, we look forward to continuing the dialogue and providing updates on the upcoming quarterly risk.

Thank you.

Ladies and gentlemen, this concludes today's call. Thank you for your participation you may now disconnect.

[music].