Q1 2021 Impel Neuropharma Inc Earnings Call
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Good morning, ladies and gentlemen, and welcome to impulse and you would go for months third quarter 2021 earnings and corporate update conference call. At this time all participants are in a listen only mode. Later, we will conduct a question and answer session and instructions.
On how to participate will be given at that time, if anyone requires upper ether assistance during todays call. Please press Star then zero on your telephone.
A reminder, this conference call is being recorded now I would like to turn the conference over to impulse Chief Financial Officer, John Beaman.
Thank you Gail and good morning, everyone. We are delighted that you could join us today for impound or a farm. This quarterly earnings conference call during which we will review our third quarter 2021 financial results as well as provide a general corporate update.
Turning me from Intel. This morning is Adrian Adams impulse, Chairman of the Board and Chief Executive Officer, and Lynne Powell, our Chief commercial officer.
Before we begin I'd like to remind everyone that we have a slide presentation to accompany our conference call. This morning, which can be viewed at our website at www dot input N. P. Dot com. If you were listening to this call on your telephone you may.
Access a synchronized slide deck on our website.
By choosing the link.
The webcast page that says click here to listen.
We used to slide two I would also like to remind you that during this call. The company will be making forward looking statements that are subject to risks and uncertainties that may cause actual results to differ from the results discussed in the forward looking statements.
That I will turn the call over to Adrian Adams IDIOM.
Thank you John and good morning, everyone and thank you for joining us.
I'm grateful and indeed excited to update you on the progress we have made since our quarter two earnings call.
I used to say, we have achieved a number of significant milestones over the past few months.
On this next slide slide number three you'll find the agenda for this morning's call.
The focus of today's call is to review the launch progress of traditional including the early launch performance indicators within the large rapidly growing and dynamic acute migraine market.
Given that this is only our second quarterly earnings teleconference. I will start off by providing a brief reminder of the investment opportunities with Impella before covering the results of our commercial launch Atlas to desktop.
I will then turn the call over to John to review, our third quarter financial results in detail.
I will then close by briefly touching Goldman clinical development status of I M. P. One O five and summarizing our year to date progress against the corporate goals. We set at the beginning of this year before opening the call up to your value questions.
Turning now to our next slide slide number four well both on the line who may be neutral and on this slide I would like to take a moment to highlight a few of the key value drivers that we believe position the company for growth and success in the short medium and long term.
First the recent FDA approval of our first product to a desktop for the acute treatment of migraine headaches with or without <unk>. In adults is opened up a large and growing market opportunity with significant revenue potential.
The commercial launch are desperate in early October is focused around our highly targeted go to market strategy involving a 60 person sales force.
8000 high prescribing physicians with a heavy emphasis on neurologists.
The clinical development program for our new lead product candidate <unk> 105, which is being evaluated the acute treatment of agitation and aggression in autism is also progressing and fights.
As to a proof of concept trial noticed that come to all one study is planned to be initiated in the late quarter for 2021 timeframe.
Finally, we believe the impound yard almost proprietary pulse technology and its unique approach to targeting the upper nasal space has the potential to truly transform clinical outcomes not only for patients in the CNS area, but also in many other disease areas.
Giving us the ability to deliver rapid and consistent relief of symptoms with injection like efficacy. We're doing this in a noninvasive convenient way.
Please now refer to on next slide Slide number five we will turn to the details of our targeted commercial launch activities on strategy with true vessel.
The commercial launch of Pradaxa is indeed, altra paas stops as we continued to execute well against all key commercial priorities.
The third quarter was a busy one is we hired trained and deployed or 60 neurologist sales specialists.
The team is motivated by our mission to help patients still searching for predictable and consistent efficacy. Despite the many new options.
We have also put in place a performance aligned incentive schemes to reward them for strong sales achievement.
Complementing our sales efforts, we have trained 75 key opinion leader speakers to deliver peer to peer education events, covering due to aggressive clinical data as well as its place and clarity.
Additionally, our targeted digital direct to consumer activities have started and will increase its volume throughout quarter, four and well into 2022.
We're also pleased more market access progress indeed payer discussions are progressing according to plan on the performance of our true direct pharmacy partnerships breech program is above expectations important with low abandonment rates, which in turn signals high patient satisfaction.
You'll see on our next slide slide number six that we are executing a very targeted approach and entering dislodge uncompetitive acute migraine market.
I would like to remind you that at the end of 2020, there were 27 million prescriptions written in this market and impressive growth of 15% year over year.
This growth is being driven by the non trip some segments of the market and in large part by their neurologists community.
Our commercial strategy is focused on a concentrated prescriber base, which allows for coverage of 35% of the market.
The 8000 positions, we have Todd and are comprised of around five and a half thousand neurologists and two and a half thousand high prescribing primary care physicians importantly, these target physicians prescribed 60% of acute branded prescriptions and 65% of all D E prescriptions.
She provided early perspective, but have the smart targeted approach to commercialization is leading to prescription productivity I would like to turn to our next slide slide number seven.
Symphony Health data shown here provides a view of our first four weeks of launch.
This shows strong week over week growth in both prescriptions and indeed prescribers.
Our all retail pharmacy data shows approximately 250 prescribers as of October 31st, giving an average of 2.5 to desert prescriptions per prescriber.
Not surprisingly.
Pleasingly, 83% of all prescribers target some of our sales efforts.
With around 660 prescriptions in just the first four weeks of launch through just as clearly gained the attention of positions on the traditional direct pharmacist partnership has provided a streamlined experience patients.
On this next slide slide number eight.
We are pleased with the growth in prescriptions and both our target prescribers and by how these prescribers writing.
Yeah.
Our launch efforts how about two <unk>. The first is on generating immediate uptake in describing on the second is on creating depth and breadth of current prescribers.
Our progress in both areas is highly encouraging.
While we expect it to have a high number of prescribers to be within our super targets and targets. We are pleased to see early prescribing trends among those who are known targets.
Also encouraging to see we have a subset of prescribers.
But I've already written more than six or even 11, plus prescriptions and you can see on this slide it shows our efforts of making questions of work.
<unk> is paying off.
Next slide slide number nine it is clear that prescription share within all the stupid targets provides.
Once you take the signals to desktop.
We'll hold a significant place in physician's treatment mountain sorry.
We have ceased using symphony health.
New to brand data here due to the early stage of our launch where refills on minimal, but also believe is a leading indicator for future growth.
The final we cannot assure that <unk> is already capturing two 4% of the new to brand market. After only four weeks on model. This is very encouraging.
Or super targets prescribed around about 60000 branded acute prescriptions for new patients per quarter. This is 34% of the total acute branded new patient stop market and represents the foundation for good ASUR prescription growth in the future.
I would now like to turn to slide number 10.
On this slide illustrates the utilization among our early prescribers.
It is a class C, but around 14%, but the new patient starts are already going to traditional.
This is only our first.
First months months of launch this already shows competitive success and compares favorably to mantech and you'd relevant new patient shares.
This illustrates not only the remaining need for efficacy in the acute treatment landscape, but the view of the DHT and more specifically to desktop can fill that search for efficacy.
This very much speaks to the evolving potential future deaths in this large market and importantly in the post triptan failure market.
We are very encouraged by the early receptivity to true desktops received among prescribers to date on these early metrics give us confidence about the brown short medium and long term potential.
Turning now to our next slide slide number 11.
To summarize the early performance trends on quarter four expectations with <unk>.
As we have reviewed although early in the launch the first month of launch has exceeded our expectations. We are pleased that the core tactics associated with all fundamental targeted launch are playing out as anticipated sales force execution as being both productive and successful as manifest in terms of strong weekly dose.
Script trends in growth in terms of both the number and depth of prescribing with neurologists in particular.
We anticipate based on the strong start that we will finish the year with around 750 unique prescribers and a prescription based so between three to 4000 prescriptions. In addition, based on the status of contract discussions with key managed care, we expect to exit this year with around 40% coverage.
Commercial lives. This performance based with traditional it will put us in a strong position for 2022 on a year, which will at a minimum in line with analyst expectations with that I will now turn the call over to John to review, our financial results for the third quarter.
Thank you Adrian on our next slide Slide number 12, you will see our financial results for the third quarter of 2021 and.
Net product revenue for the third quarter 2021 was <unk> 1 million initial shipments of Cadaster to specialty pharmacies began in September of 2021 ahead of our October commercial launch.
Research and development expenses for the third quarter of 2021 for $5 9 million for third quarter 2021, compared to $6 1 million for the same period in 2020 <unk>.
The decrease was primarily due to decreased <unk> clinical expenses as the phase III study was closed.
Selling general and administrative expenses for the third quarter of 2021 were $16 3 million, which compares with $2 9 million for the third quarter of 2020. The increase in SG&A was primarily due to the ramp up in spending to support the commercial and marketing preparation for the launch.
For the third quarter of 2021, and <unk> reported a net loss of $25 million or $1 24 per common share compared to a net loss of $9 2 million or $15.56 per common share for the same period in 2020.
Please refer to the next slide slide number 13.
As of September 32021, the company had cash and cash equivalents of $111 3 million.
In July the company completed a $50 million debt financing 30 million funded during the third quarter of 2021.
And repaid the Avenue term loan of $10 9 million, including prepayment fee.
Further we have $20 million available to be used at the companys discretion upon meeting certain revenue milestones.
In September the company completed a follow on public offering resulting in net proceeds of $48 $3 million. We believe we have sufficient financial resources, given the debt not equity financing to fund the operations into 2023.
With that I will now turn the call back over to Adrian to make some closing remarks Adrian.
Thank you John.
Before closing I did want to make a few remarks on the development status with <unk> five I would like to turn your attention to this slide slide number 14.
Firstly I would like to underscore the broad clinical possibilities that we see with our pulse technology platform. We are clearly pleased with the recent approval of true desktop and pursuant to this we believe that the pump technology has the potential to live at numerous additional therapeutics, which the next in line for Intel is indeed <unk>.
105 three.
To remind everyone.
105 is comprised of a powder formulation of Olanzapine, which is the most used treatment for acute agitation and aggression or a huge is currently limited to intramuscular injection.
We believe that <unk> 105 has the potential to significantly reduce emergency room visits for patients with autism spectrum disorder.
We haven't covered this as being a major unmet need as there are at least 225% of emergency room visits a year, a large majority of which relates to patients that cannot be controlled in the home setting. Therefore, there is a significant market opportunity to bring a more humane approach to D escalating agitation and aggression.
And the pulses patient population.
The phase one results.
Study results of <unk> 105 in healthy adults shown on this slide were published in the journal of clinical psychiatry with last year.
Finally, just demonstrated that <unk> five reached peak plasma levels approximately twice as fast as intramuscular allows a patient currently marketed zyprexa and 10 times faster orally disintegrating tablets and ideal desired medications for acute agitation and aggression in autism is easy to admin.
Mr.
Provides rapid tranquilized nation with excessive sedation as a swift onset of action with sufficient duration to prevent on timely returns and has low risk adverse events and drug interactions. This is the goal with <unk> five.
Why did you confirm that we're on schedule to read to initiate a phase II proof of concept study towards the end of the fourth quarter.
Turning now to our final slide slide number 15. This continues to be an exciting and transformative time for impella given the excellent progress. We have made this year not only achieving but exceeding the objectives and milestones we articulated at the beginning of 2021.
These milestones as you can see through the completion of the initial public offering and successful follow on offerings as well as the FDA approval and commercial launch of our first product transition.
Transitioning in Perl enjoyed commercial company.
We are looking forward to initiating the phase II proof of concept study with <unk> five in the fourth quarter, completing what has been a transformational year for <unk>.
With that I would now like to open the call up for your questions. Operator can you. Please give the instructions.
As a reminder to ask a question you will need to press star one on your telephone to withdraw your question press the pound key please stand by while we compile the Q&A roster.
Your first question comes from the line of Ken <unk>.
Oh, sorry from Covid Your line is open.
Hey team I have a few congratulations on all the initial progress. So I just wanted to start with managed care and you talked about having 40% covered lives as we exit which is fantastic, but wanted to drill down a little bit to talk about the net pricing that you're hoping for how those initial discussions are going we see <unk>.
Lv settling in around 500 net to the company and so just wondering.
If you could give a little bit of commentary around how the.
Those discussions are progressing and how we should think about when we get to normalization what that might look like and then also really intrigued and appreciate the commentary around the view into 2022. There is a large range from just a few analysts that are falling you I think consensus shakes out in that range around.
$50 million. So wondering if you could just speak to it with a little bit more specificity that was question number two and I have a couple of follow ups, but ill start stop there like yet to those things.
Yes, thank you very much.
Ken I think I'll ask Glenn to comment on.
But you're right I think as you may recall that during the kind of May June and July timeframe, we invested in.
And market access strategy professionals.
That was with a view to having clinical data exchange with those with those groups for the very aim of making sure that we could actually transition into the launch and into the fourth quarter with a strong building growth of commercial lives coverage. So so.
So in essence by the middle of next year, we anticipate 70% 75% of commercial lives Vietnam.
Not being covered.
So so clearly I think we've been making some very good progress on the specifics of.
How those discussions go and particularly as it relates to the actual contracts I'm going to lend to comments on heartland.
Sure. Thanks, Adrian and thanks, Ken So they're progressing exactly as we thought they would I think one of the great things is when where the company sees <unk> positioned which is firmly after after trip hands and you think about what are the plans want to put in some utilization management, we see good alignment there right. So.
So that that big hurdle is kind of something that we get through pretty pretty well with the plans when they look at the clinical data for <unk> and at this point. It's a as you expect we are in the final stages of discussions on contracts with the large pbms and then pulling that through to the to the to the local plans. So at this stage the converse.
Stations have gone very well they understand the clinical data thanks to our medical affairs and market access colleagues doing the work ahead of launch.
And we're in contract with you with the number of the major Pbms right now.
Until our second question, John maybe you can just broadly comment on.
On our.
Aspirations for next year, we are very pleased with the progress to date.
Clearly I think we.
We believe at a minimum we're going to be in line with the <unk>.
Alice expectations, but Joe maybe you can comment.
Yeah, Ken Thanks for the comment I think to your question.
You had mentioned I think we're very pleased with how the launch has gone and I think the script that he mentioned towards doing it for 2021 will lead us to hit those expectations that we're hoping to hit in 2022, when we look at the analyst expectations for 'twenty 'twenty. Two you know that there's sort of a broad range right yourself.
And Wedbush I think as we think about what the range looks like for net revenue as we go into that year, we will be within the range of that I think you're on the low end and there's a couple who are on the high end and I think we think about it you know targeting.
I think you know how you've laid out 2022 and 2023.
In line with you know, what we're hoping to do.
Coming here.
Okay. That's helpful. And then maybe just a couple of other just.
Further questions on spending just wondering.
As we go into 'twenty, two and we're looking into Q4 should we think of a slight step up into Q4 or Q3, a good run rate and as we kind of look forward into 2022, and then a broader question understanding that you certainly want to secure managed care before you get a little bit more aggressive on promotion, but wondering if D.
Season is in the future at any point later next year, obviously, that's great to activate patients. It certainly can also help with your effort to activate clinicians and so just wondering any thoughts and I'll leave it there. Thanks, so much and congratulations again on the progress.
Thank you Ken I'll ask.
John in a moment too.
Comments on the aspects of spend to a second point I would like.
You are quite right I think clearly we've seen the power in the marketplace.
Direct to consumer advertising etcetera, we are delighted that that's been driving a tremendous amount of growth within the migraine market.
Great market I think as you also know I think we've always stressed that bank, a very financially disciplined and importantly targeted approach too.
<unk> commercialization.
So we as we progress into 2022, we will increase our activity in relation to kind of.
Digital work in direct to consumer brought kind of digital advertising.
Based on performance, we anticipate that 2022 is going to be a strong year based on the performance. There are two things, but obviously, we're going to be keeping a very close eye on one is indeed.
Whether or not there is an opportunity to broaden the awareness.
Consequent generation of prescriptions with the broad utility of direct to consumer vehicles, but also as we've articulated before.
Before we are planning to.
Invest into the opportunity and with a view to doubling the size of.
Our sales force as we move into 2000 tonnes per day all of this clearly is going to be dictated by what we anticipate as being a strong first half of next.
Next year, so financial discipline very targeted looking in particular to build a very strong base of utility and endorsement by neurologists and then broaden out earning.
Earning the rights and the ability to be able to do more extensive promotion on direct to consumer activity. John maybe you can comment on the spend levels.
And Ken I think to your question I think the third quarter is probably a pretty good caveat as we move forward into the fourth quarter and then into 'twenty 'twenty. Two I think obviously, we're ramping up for basically the sales force to get ready to go out and launch to desktop and so I think it's a very good sort of.
That number is a very good one carrying forward into the next couple of quarters.
Great. Thanks again.
Thank again.
Your next question comes from the line of Ed D. Hickman from Guggenheim Securities. Your line is open.
Hi, Good morning, guys. Thanks for taking my question and congrats on the launch so far coupled.
A couple for me.
When you were showing here that in the.
Current four weeks, Richard I thought youre getting almost 14% of the new to brand starts given your sort of guidance for 2022 within the analysts' range in three to four three to 4000 scripts like what percentage sort of target does that.
Does that indicate within sort of that new to brand starts within the within the competitors and then sort of what what are you looking for in 2022 that would sort of make you decide whether and when to ramp up your sales force and sort of how much would that would that cost in one thing.
Yeah, again, I'll ask scale them too.
Comment.
We're pleased that obviously you noted.
That data.
Clearly well see its relatively early days.
Looking at the kind of sure sure evolution. This is amongst obviously true decile.
Prescribers, so we're very.
As you well know I think we've had quite a number of discussions over the course of time is where we saw true deaths are fitting in the armamentarium of physicians.
And we always said that <unk> should be placed colstrip, Tom Fallon and competing directly with you.
<unk>.
A nanosecond and clearly this early data gives us kind of opt.
Optimism.
The excitements around the kind of.
Shares were already generating that clearly over the course of the next number of months, we're going to kind of see a lots of different dynamics going on but this is very encouraging data. So so far.
Let's do you want to answer that.
Yeah, I think the question around the long term share what we're talking about here is a new to brand share among people that have prescribed <unk> already when you look within our Super targets, which are the top 2000 of our targets I think what we see through Q4 as achieving about a three 5% share of that branded acute.
New to brand market and that sets us up to that foundation.
In 2022.
To touch on the second part of your question, which was you know what are some of the things that we look at to expand the size of the sales force well. It's twofold, obviously you want to see.
In market.
Ascription progression, which we believe we will see but also net price we wanted to make sure that our payer contracts or pull through so that as we expand our sales force and begin to generate.
More volume with that expansion that thats profitable volume.
Getting a little bit deeper you want to look at your Youre just game market Salesforce activity metrics as we see that we have the opportunity to go a layer down in the decile that's when we would.
Add additional sales force to tighten up the size of some of the territory. So that we can increase.
Some frequency, but really it comes down to that prescription evolution and then the securing of a <unk> of our net price.
Doug.
I would just add as well so I'll just remind you of one of the slides we show them a number of months ago, perhaps indeed an hour.
On our first earnings call I think.
Demonstrated.
But if you actually look at prescriptions that have been written for.
No.
On your belt since launch around about.
75% to 80% of prescriptions have come from around about five to 5000 physicians with a strong focus on neurologists I only emphasize that because this data shows but not targeted strategy that we've got in place is working in practice, we are focusing on both positions.
Well, we're all supportive of.
See the right place and physicians.
Ontario, So so clearly I think.
Always mentioned that the first and second quarter of <unk>.
That share a very important from a trajectory point of view, we are very pleased with where we where we are and I'm looking forward to having that decision to make in relation to congratulate investing against this opportunity and growing the size of the sales force and decisions on that will be detected.
What we anticipate as being strong growth with the <unk> as we move through next year.
Great and then just really quickly on the 105 program can you just talk just broadly if there are any sort of additional risks with using sort of a powder formulation with the <unk> technology versus a liquid formulation and sort of how we should think about.
Those PK comparison.
John do you want to just touch on that.
Yes, Eddie you know one of the things that the team beyond sort of the pod right is that they've put the formulations together, obviously traditionally the liquid formulation because we used migrant all which had been in the market for 30 years, but with <unk> hundred five program that is a dry powder formulation that was specifically made for olanzapine isn't it.
Nice that was specifically made for the dry powder and it works very similarly to the liquid which is one of the ideal pieces of the pod platform and so we don't anticipate any additional sort of risks with the dry powder versus the liquid that was one of the reasons why we did the phase one to just look at the safety and obviously Adrian has talked to the efficacy which was bad.
<unk> than intramuscular injection, so we're pretty bullish on the prospects for this especially given how olanzapine works on aggression and multiple other sort of indication.
Thank you so much and congrats again on the progress.
Thank you very much.
Your next question comes from the line of Laura Chico from Wedbush. Your line is open.
Hey, good morning, guys. Thank you for taking the question I just wanted to drill into this script metrics that you provided so youre, indicating a target of about three to 4000 scripts here could you talk a little bit more about your assumptions to get to that level and I am assuming no further access windsor necessary to get to that point and then.
Also on the 750 unique prescribers would that would be about a roughly a doubling of the number of prescriptions per Doc if I'm doing the math right. So I guess I'm curious how do you see that actually breaking out in terms of within the super target demographic versus broader narrow or PCP setting, thanks, and I have one.
Follow up.
Yes, Len, maybe maybe I can ask you just comment and then I'll answer that.
Sure. Thanks, Thanks, Laura So if you look at them.
You know back in some of the slides you can see the depth that starts to get driven particularly by our super target. So.
The 750 number isn't just super targets that that's all targets. However, we do anticipate a number of those will be will be Super target. Then you start to see for example, the average number of prescriptions for for Super targets right now is $4, two and you compare that to target.
A bit less the same kind of metric follows with neurologists versus PCP is so neurologists average about $2, one whereas primary care physicians average about 1.5. So you start to get to the 750 number through <unk> expansion and the time it takes for our sale.
For us to gain access.
The various targets that we have but one of the great things that we're seeing and you see that both in the metrics against <unk> and <unk>, but also just the sheer number of prescriptions each one of the super targets against prescribed as they get onboard and begin to give it to their patients. So.
Those are the two things that we're using to wind up at that three to 4000 and just the momentum that we see building in the field.
Okay. Thanks, and then maybe just one.
Obviously, it's early days here on the launch so far but any anecdotal experience you can share in terms of the garden variety patient trying true that that and I think Adrian to your point you gave some commentary or color around the thing and the post trip down market, but I'm also curious kind of.
What about the physician prescribing it and it sounds like the majority of your kind of tilted towards the Super users that are familiar with BHG, but any others kind of branching out I guess I'd be curious and kind of anecdotal feedback so far on Chris fiber patterns.
Yes.
Good question I think.
One of the things that we are too.
One of the things we're tracking obviously is positioned to see they are getting from patients and clearly opex come getting.
More and more information on how patients are finding the.
Finding the product. So I think you are correct to have like clearly a lot of our efforts.
And rollouts have been with our Super targets.
Physicians are well aware of the benefits of <unk>, they've just being frustrated they've never been able to deliver it and not consistent.
A predictable way all of this week, we had an example of neurologists who've golfs or actually.
Was.
It was a key migraine.
For he prescribed the product for his daughter.
This is just another adult but.
This is where we are at this point in time, but based on the feedback from his daughter was course using his words Deliriously happy.
He immediately wrote 14 prescriptions, so I think.
So the product clearly works, we've seen a number of examples of.
<unk>.
Patients are actually finding that the efficacy that they want it on demand is there for the taking so we've had a number of dual stores like that so.
So again, we're going to be collecting these over the course of time.
So that we can now translate those into.
Information to share on them or what the basic spoke to so far so good I think.
This product works until you just wanted to get into patients' hands and then when they start to see the efficacy.
Len do you want to add anything more to that.
No I think that's it I think as Laura said it is still early days and one of the things. We're excited about is that as patients get experience and come back to the neurologist or their headache specialists and share the success with <unk>. We think that's just going to build on itself.
And provide that feedback loop, which is which is why we have that bridge program in place so that patients get that.
Get that satisfaction from trying to drug can give the feedback right to the physicians.
Great.
Seek one last one and I think theres, some phase III data coming up for grabs tapers off.
And the authors in space I think that's arriving probably the first half of 'twenty two any thoughts on potential read through to your olanzapine effort. If at all thanks guys.
Yeah, John do you want comment on that.
Yes, I think it's a great question I'm just going to go back to the fact that we know of lines and team works with aggression bipolar schizophrenia, and others I think it's got a well known track record of safety and so we're focusing on those pieces as we head into this aggression in autism and again, given the past track record and the fact that a typical.
Anti psychotics orally or given to this population. We think this PRN usage of 105 is going to be very very attractive in the marketplace.
Thanks very much.
We have no further questions at this time I would now like the call backs to EDM events for any closing remarks.
Thank you very much operator, and thank you all for joining US. This morning, we look forward to updating you on our continued progress as we complete 2021 moving to what we believe will be an equally exciting 2022, as we continue to create value for patients health care professionals, each and every one of you.
As shareholders. We thank you so much.
This concludes today's conference call. Thank you for participating you may now disconnect.
Yes.
Okay.
Sure.
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