Q2 2022 Agile Therapeutics Inc Earnings Call

Operator: Good afternoon and welcome to the Agile Therapeutics second quarter 2022 financial results conference call. Please note, today's event is being recorded.

Good afternoon, and welcome to the agile Therapeutics second quarter 2022 financial results Conference call. Please.

Alfred Altomari: We work collaboratively with our peers, both big and small, and form a coalition that really does, you know, try to educate our providers of what we're...I mean, our regulators, what we see on the ground. So they have that information, and we...

Please note today's event is being recorded.

Operator: Hello, everyone, and welcome to today's conference call to discuss our second quarter 2022 financial results.

Alfred Altomari: ...happening.

Hello, everyone and welcome to today's conference call to discuss our second quarter 2022 financial results incorporated call will include forward looking statements based on current expectations, including statements concerning our financial outlook and financing prospects for the future.

Operator: Incorporated's call will include forward-looking statements based on current expectations, including statements concerning our financial outlook and financing prospects for the future.

Operator: Our outlook for the second half of 2022, management's expectations for our future financial and operational performance, including our expectations regarding the market growth of TORLA.

Our outlook for the second half of 2022.

Management's expectations for our future financial and operational performance, including our expectations regarding the market grows at 12 months.

Operator: Our business strategy, our partnership with Affaxis and its ability to promote growth, our product supply agreement with Nurex and its ability to educate patients about TORLA, our connected TV campaign and its ability to promote growth, and our assessment of the combined promotional contraceptive market in general, among other statements regarding our plans, prospects, and expectations. Such statements represent our judgments as of today, are not promises or guarantees, and may involve risks and uncertainties that may cause actual results to differ from the results discussed in the forward-looking statements.

Our business strategy, our partnership with the factors is the ability to promote our <unk>.

<unk> supply agreement with <unk> ability to educate patients about 12 or connected TV campaign, and its ability to promote growth and our assessment of the combined hormonal contraceptive market among.

Among other statements regarding our plans prospects and expectations such statements represent our judgment as of today are not promises or guarantees and they involve risks and uncertainties that may cause actual results to differ from the results discussed in the forward looking statements.

Operator: Please refer to our filings in the SEC, which are available to the investor relations section of our website, for information concerning risk factors that may affect the company.

Please refer to our filings with the SEC, which are available.

To the Investor Relations section of our website for information concerning risk factors that may affect the company and we undertake no obligation to update forward looking statements, except as required by law.

Operator: We undertake no obligation to update forward-looking statements except as required by law.

Operator: The information on today's call is not intended for promotional purposes, and not sufficient for prescribing chief executive officer and Amy Welch, vice president of marketing.

The information on today's call is not intended for promotional purposes, and not sufficient for prescribing Chief Executive Officer, and Amy was vice President of marketing <unk>.

Operator: Following our prepared remarks, we'll open the call to your questions.

Following our prepared remarks, we'll open the call to your questions.

Alfred Altomari: I will now turn the call over to Al.

I'll now turn the call over to al.

Alfred Altomari: Thank you, Matt, and thank you all for joining us on our call this afternoon.

Alfred Altomari: So we work very...

Thank you, Matt and thank you all for joining us on our call. This afternoon, we had a busy and productive quarter and on this call I'll review the key areas.

Alfred Altomari: We had a busy and productive quarter.

Alfred Altomari: ...we look forward to today to work more...

Alfred Altomari: And on this call, I will review the key areas of the second quarter 2022 financial performance, our current cash position, and then provide a commercial update on TORLA.

Alfred Altomari: ...we want to make... ...products available, you know, to as broad of an audience as we possibly can.

Second quarter 2022 financial performance, our current cash position and then provide a commercial update on smaller I'll, then hand over to call to <unk>.

Alfred Altomari: I'll then hand over the call to Amy Welch, who leads our commercial efforts to preview the upcoming launch of a new initiative, with a leader in female telehealth, Nurex, 30 Madison, re-execution of our plan in the first half of 2022, a set of three accomplishments.

Alfred Altomari: And so we're doing a lot of things now, you know, the relationships we have on telemarketing, that Amy will talk more about in a few minutes.

Alfred Altomari: And I wish I could answer your question more fully if there's anything more we could do.

We lead our commercial efforts.

For you to preview the upsell.

Coming launch of a new initiative with a leader in P&L telehealth.

<unk>.

A 30 Madison.

<unk> of our plan in the first half of 2022 et cetera, three accomplishments.

Alfred Altomari: We continue to grow TORLA demand and revenue.

We continue to grow forward demand and revenue.

We have been.

We significantly reduced our operating expenses or Opex we.

<unk> raised additional capital that we believe is sufficient to fund our operations through.

Through the end of 2000.

Since 2002.

Alfred Altomari: We have significantly reduced our operating expenses or OPEX. We have raised additional capital that we believe is sufficient to fund our operations through the end of 2022. First, let me touch on TORLA and OPEX. We are proud that today we report our second consecutive quarter of growth of TORLA demand or cycles, and at the same time, reducing our OPEX.

Alfred Altomari: I think we've done great work.

First let me touch on sport.

Alfred Altomari: The ball's really in the court.

Alfred Altomari: It's in court now for the insurance companies to come to full compliance.

Alfred Altomari: And I certainly do believe if that doesn't happen, there needs to be enforcement.

Thanks.

Alfred Altomari: And we're just at that point.

We are proud that today, we report our second consecutive quarter of growth up 12 of demand or cycle and at the same time, reducing our opex.

Alfred Altomari: Total cycles for the second quarter were 21,083, which fell within our updated guided range of 21,000 to 21,500, 2022 and help us realize net product million, which is also within our guided range.

It'll cycles for the second quarter were 21083.

<unk> crowd within.

Our updated guidance range of 21000 for.

21500 represented 27%.

Kris from the first quarter.

2022, and help us realize net product.

Which is also within our guided range.

Alfred Altomari: OPEX for the second quarter of 2022 was $11.3 million, which is below the updated guidance range of 11.5 to 12.5 million. The reduction in OPEX of its lowest sales force to better focus on the most productive territories, with high volume and favorable third-party reimbursement, as well as reducing expenses across all other areas of our business.

Opex for the.

The second quarter of 2022.

It was $11 $3 million, which is below the updated guidance range of 11.

Seven five to $12 5 million.

The reduction in Opex because of the <unk> sales force.

To better focus on the most.

Productive territories with high volume and favorable third party reimbursement.

As well as reducing expenses across all other areas of our business.

Alfred Altomari: These improvements in OPEX have resulted in a $12.2 million net loss for the second quarter of 2022.

These improvements in Opex have resulted in $12 2 million net loss for the second quarter of 2022.

Alfred Altomari: Quarterly OPEX will be generally in line with the second quarter of 2022.

Quarterly opex to be generally in line with the second quarter of 2022.

Alfred Altomari: Current and prospective investors have expressed the desire to see the company effectively, manage expenses while continuing to grow the 12 demand.

Current and prospective investors have expressed the desire to see the company is tough.

Effectively manage expenses, while continuing to grow the 12 demand.

Alfred Altomari: By demonstrating consistent progress in both of these areas, we believe investors are beginning to see what we see, which is a company with a path of reaching our goal of becoming cash flow positive.

By demonstrating consistent progress from both of these areas. We believe investors are beginning to see what we see.

Which is a company with a path to reaching our goal of becoming cash flow positive.

Alfred Altomari: We believe we advance our goal of financing our operations by raising proceeds through our, at-the-market or ATM offering in the second quarter of 2022, and via the public offering in July of 2022. The $12.2 million in net proceeds have allowed us to end the second quarter of 2022, with approximately $13 million in net cash.

We believe we advanced our goal of financing our operations by raising proceeds through our aftermarket or ATM offering in the second quarter of 2022 and via the public offering in July of 2022.

The $12 $2 million net.

The net price that allows us to extend the second quarter of 2022 with approximately $13 million in net cash.

Alfred Altomari: When combined with the $22.2 million in net proceeds from the July public offering, we believe we can fund, as previously expanding debt with Perceptive Advisors, to $3 million by using the proceeds from the ATM. We paid $5 million to Perceptive during the second quarter, and in July of 2022, we made an additional prepayment of $7 million in exchange for a waiver of certain financial covenants to the end of 2022 to support from Perceptive. But believe the meaningful reduction in our debt improves our balance sheet, and gives the company flexibility in future capital raises, as well in business development and partnership opportunities.

When combined with the $2 $2 million in net proceeds from the July public offering.

We believe we can fund.

As previously stated debt with perceptive advisors.

The $3 million.

By using the proceeds from the ATM.

We paid $5 million to perceptive during the second quarter.

And in July of 2022, we made an additional prepayment of $7 million.

Exchange for a waiver of certain financial covenants at the end of 2020.

With support from perceptive.

Alfred Altomari: But I'm optimistic we'll see better compliance.

So I believe the meaningful reduction in our debt improves our balance sheet.

And give the company flexibility and future capital raises as well in business development and partnership opportunities.

Alfred Altomari: Securing this capital was a testimony to the management team, and the business plans we have in place.

Alfred Altomari: We're seeing it, but I'd like to see more faster as far as going with an answer.

Securing this capital where the testimony.

The management team and the business plans.

Alfred Altomari: The answer now is how can we continue to responsibly manage, and continuing to meaningfully grow the Toilet Business.

They are now.

How can we can.

Continue to responsibly manage it.

Expenses.

And continuing to meaningfully grow the trailer business.

Alfred Altomari: And we think the answer to this question is to continue to execute initiatives, that drive volume in both the non-retail and the retail channels, while also seeking and mobilizing new strategic initiatives that can augment our business.

And we think the answer to your question is to continuing to execute on that.

With the initiatives that drive volume in both the non retail and the retail channels.

We are also seeking and mobilizing new strategic initiatives that can augment our business.

Alfred Altomari: I'll now provide an update on Affaxis and our DTC marketing efforts.

Okay.

I'll now provide an update on the fact that in our DTC marketing efforts I will then turn over the call to Avi has been leading the charge on all of our commercial efforts to talk to you about the upcoming launch of our collaboration with <unk>.

Alfred Altomari: I'll then turn over the call to Amy, who has been leading the charge on all of our commercial efforts, to talk to you about the upcoming launch of our collaboration with Norex.

Alfred Altomari: One of the most important questions we received is, is the Affaxis relationship making impact for Agile and Toilet in the non-retail channel?

One of the most important question. We received is this the faxes relationship.

Making impact for agile and <unk> in the non retail channel.

Alfred Altomari: While the Affaxis partnership required a significant lead time to train and deploy, we believe we're starting to see that translate into volume.

While the effective partnership required a significant lead time to train and deploy we believe we're starting to see that translate into volume.

Alfred Altomari: In the first quarter of 2022, 485 non-retail cycles of 2022, that number increased by 189%, but we believe there's even more upside in this channel, based on the reach of the Affaxis customer network.

In the first quarter of 2022.

485, non retail cycle 2022 that number increased by 189% with we believe there's even more upside in this channel based on the reach of the effects of customer network.

Alfred Altomari: With the recent Supreme Court ruling, we are proud to make Amy, who you'll be hearing from shortly, galvanize our partnership with Affaxis in January of 2022.

With the recent Supreme Court ruling we are proud to make.

Amy who you'll be hearing from shortly.

Galvanize, our partnership with Faxes and January of 2000.

Alfred Altomari: And we continue to believe it is important to support the Planned Parenthood, as a non-retail organization.

Court decision.

We continue to believe is important to support the planned Parenthood organization.

Through their group purchasing organization.

Alfred Altomari: Through their group purchasing organization, Affaxis primarily provides services in a non-retail channel. Additionally, a co-promotion program for Toilet with Affaxis Pharma, has the potential to access over 25,000 accounts, including Planned Parenthood and college and university health centers. Therefore, we believe we can provide in the non-retail channel, and with Affaxis, we expect to continue to make inroads in Planned Parenthood and other non-retail customers.

Texas, primarily provide services through <unk>.

Non retail channel.

Okay.

Additionally, a co promotion program for tomorrow with the facts that farmer.

The potential to access over 25000 accounts, including planned Parenthood and college and University health centers.

Therefore, we believe we can.

In the non retail channel and with the factors, we expect to continue to make inroads and planned parenthood and other non retail customers.

Alfred Altomari: Related to college and university health centers, which has historically been an active time of year in contraception, for that reason, we'll be focusing on targeted promotion of our Toilet Direct-to-Consumer campaign on Connect TV.

Related to college and University health centers.

Which has historically been active time of year when contraception.

For that reason, we'll be focusing on targeted promotion of our <unk> direct to consumer campaign on TV.

Alfred Altomari: As we previously stated, we're deploying this commercial, with a highly targeted, efficient focus on women in the target demographic of 18 to 24, in states that have large markets for contraceptives and potentially strong reimbursement for Toilet.

Television.

As we previewed.

Simply stated we are deploying.

This commercial with a highly targeted Fisher.

<unk> focus on women and the target.

Demographic of 18 to 24.

<unk> that have large markets for contraceptive potentially strong reimbursable Fritz boiler.

Alfred Altomari: Our initial run of the commercial launched in April 2022, and garnered positive results as we helped raise awareness, trial, and adoption of Toilet.

Our initial run of the commercial launch in April .

Before 2022 and garnered positive results as we helped raise awareness.

File and adopt six world.

Alfred Altomari: Our data continues to show us that many women who try Swirla, fail Swirla.

Our data continued to show us that many women had tried slower sales world pulling our CTV commercial at this time when women in our target audience are having birth control conversations with the prescribers, we expect to add more long term repeat use of the boiler.

Alfred Altomari: During our CTV commercial at this time, when women in our target audience are having birth control conversations with the prescribers, we expect to add more long-term repeat users of Swirla.

Alfred Altomari: Again, we think they're working and having an impact on our business.

Again.

We think the right working and having an impact on our business.

Alfred Altomari: We believe the answer is yes.

We believe the answer is yes.

Alfred Altomari: In the first week of July, 2,227,739 total prescriptions dispensed were contracted.

In the first week of July 2022.

739, total prescription dispense with that.

Alfred Altomari: That's more than we did over the full calendar year of 2021. And we believe the partnership with FACTS and DTC efforts helped drive this growth.

That's more than we did.

For calendar year 2000.

'twenty one.

We believe the partnership with faxes to DTC efforts helped drive this growth.

Alfred Altomari: We have always said that we need to find initiatives at the right time to help grow our business. We continuously look for opportunities to grow our business. Scott, an upcoming initiative that we believe can contribute to the retail growth by driving our CTV efforts.

We have always said.

And initiatives at the right time.

To help grow our business.

We continuously look for opportunities to grow our business and upcoming initiatives.

We can contribute to the retail growth.

But by drive.

Amy Welsh: Over to you, Amy.

The efforts.

Amy Welsh: Thank you, Al.

Alfred Altomari: I mean, obviously, it's a really impressive detail channel.

<unk> you Amy.

Thank you Ron and Hello to all of you joining us.

Amy Welsh: And hello to all of you joining us today.

Alfred Altomari: And I'm just curious, are you starting to see the size of orders, large orders, repeat orders, such that you can start to start projecting even that channel going forward, how big it could be?

And that's today.

Amy Welsh: We are excited to share that we recently signed a Progen's reproductive health brand, which will make Tirola an available option for their patients in the upcoming months.

Alfred Altomari: Or at this point, is it still too early, you know, at this point?

We are excited to share that we recently signed a problems reproductive health brand.

Which will make trailer.

An available option for their patients in the upcoming months.

Amy Welsh: So why is this important for Agile and Tirola?

Why is this important.

For agile and <unk>.

Amy Welsh: Nurex is a leader in female-focused digital health care amongst our target audience, and offers patients access to its telehealth platform and expert medical providers that have prescribed the advantage of collaborative sophistication of their operations.

<unk> is a leader in female focused digital healthcare amongst our target audience and offers patient access to its telehealth platform and expert medical providers that are prescribed to the advantage of collaboration.

Sophistication of their operations.

Amy Welsh: Patients with options will be able to learn about and potentially access Tirola. By combining Tirola with Nurex's broad reach, we believe this initiative will help further engage patients, and increase awareness and access for Tirola.

This option will be able to learn about.

And potentially access trial.

By combining <unk> written Rx is broad.

We believe this initiative will help further engage patients and increase awareness and access for <unk> <unk>.

Amy Welsh: Once the initiative is officially launched, stay tuned for more.

One key initiative is officially launched.

Okay.

Tuned for more.

Operator: We'd now like to take this opportunity to ask questions.

Okay.

We'd now like.

I need to ask questions.

Operator: Operator, you may now open the call for Q&A.

Operator, you May now open the call for Q&A.

Operator: Thank you.

Thank you.

Operator: If you'd like to ask a question, please press star then one.

To ask a question please press <unk>.

Operator: The first question is from Oren Libnat with H.G.

Starting to and one on your telephone keypad.

The first question is from Oren <unk> with H C. Wainwright Your line is open.

Operator: Wainwright.

Thanks for taking the questions I have a few.

Obviously.

Lee enforcing this.

CA contraceptive mandate that.

It has been getting clouded by.

<unk>.

The insurance companies and so I'm just curious.

What extent if any have you seen any changes on the ground as a result of that.

At least headlines and is there anything you can do proactively on this front now that this.

I guess threats.

Ports of complaints to the <unk>.

Be able to leverage this language from NOI.

Now negotiations for next year.

Here.

Just help me understand what.

Yes, the real effect potentially all of this.

<unk> messaging and then I have a couple of follow ups.

Great.

Operator: Your line is open.

Oren Livnat: Thanks for taking the questions.

Great question and be safe.

Oren Livnat: I have a few.

Okay.

I think the most important thing thats happened.

Okay.

We got it.

The message to the right audience.

The Monday after the announcement of ROE V Wade.

Eric.

<unk> put out.

Prospect there was <unk> in short.

Once companies, including the Pbms that were brought to the White House did talk about the enforcement of the a specific ACI specifically this issue is on kind of.

Oren Livnat: Obviously, a lot of people are really enforcing this ACA contraceptive mandate that, you know, has been getting flouted by the FDA.

Oren Livnat: ...the insurance companies.

His door step if you will along with the two others.

Or is that also regulate the secretary of the Treasury labor, so hard hitting meeting about.

Oren Livnat: And so I'm just curious, what extent, if any, have you seen any changes on the ground as a result of at least headlines?

Okay.

Following that meeting.

Okay.

Additional guidance.

And for the first time on <unk>.

So all in that guidance for word enforcement.

I think I think we're at that crossroads.

Oren Livnat: And is there anything you can do proactively on this front now that this, I guess, threat, you know, reports or complaints to the...

Related to that.

Back to the presidential order that was signed by President President Biden for Airbus.

Oren Livnat: ...be able to leverage this language command...

There was over his shoulder that actually empowered helping service lives behalf.

Oren Livnat: ...around now negotiations for next year.

So we're at a good point orange.

Oren Livnat: Just help me understand what the real effects potentially are of this new messaging.

This is the first time that the guidelines included rhetoric about.

<unk>.

Oren Livnat: And then I have a couple follow-ups.

I believe they are at that point.

Alfred Altomari: Great.

We're starting to see things.

I think we can.

And and some of the smaller piece.

<unk> comply.

It's more fully with the API, So we're seeing things.

Alfred Altomari: Hi, Oren.

Alfred Altomari: It's Al.

Alfred Altomari: Great question, D.C.

So proud of our group in the industry.

This is not an agile issue.

We talked before this is an industry issue.

Alfred Altomari: I think the most important thing that's happened is that we got our message to the right audience.

Alfred Altomari: The Monday after the announcement of Roe v. Wade, the Congressional Bureau, you know, put out the press that there was 13 insurance companies, including the PBMs, that were brought to the White House to talk about, you know, the enforcement of the ACA specifically.

Work collaboratively with our peers, both big and small form the coalition that really does.

Alfred Altomari: This issue is on kind of his doorstep, if you will, along with the two other secretaries that also regulate this, the Secretary of the Treasury and Labor.

Hi to educate our providers of what were our.

Regulators, what we see on the ground so to add information.

Alfred Altomari: So we had a very hard-hitting meeting about...

Happening so we work very well.

We look forward today to work more.

We want them May 12 at all.

Our product available.

With a broad audience as we possibly can.

Yes.

So.

Now.

Asia, because we have on telemarketing reign, you'll talk more about it.

I wish I wish I could answer.

Question, we're fully if there's anything more we can do I think we've done great work of all drilling.

CT analysis for the insurance companies to come in full compliance.

I certainly do believe if that doesn't happen there needs to be enforced.

Just at that point.

We'll see better compliance with standards and I would like to see more faster.

Sorry, I didn't answer.

I mean, obviously really impressive.

He'll channel and I'm, just curious are you starting to see.

Of orders large orders repeat orders.

Such that you can start to.

Projecting even that channel going forward, how big it could be or at this point is it still too early.

Alfred Altomari: And I guess along those lines, do you have any visibility, what data that allows you to connect the dots between orders, you know, from like a Planned Parenthood, from a FACCIS to actual dispensing of prescriptions?

At this point and I guess, along those lines do you have any visibility.

That allows you to connect the dots.

Between orders.

From like a planned parenthood from us access to act.

Actual dispensing of prescriptions Dino if theyre, just stocking up because it's available.

Alfred Altomari: Do you know if they're just stocking up because it's available, especially in, you know, the wake of Roe?

Especially in the wake of ROE or are they actually dispensing those prescriptions through those channels.

Alfred Altomari: Or are they actually dispensing those prescriptions through those channels?

Alfred Altomari: Yeah, I'll answer maybe the level.

Yeah, I'll answer maybe the level.

Alfred Altomari: Their business flows through IQVIA and Symphony, as we discussed, but on a different audit called the non-retail audit or the institutional audit.

Their business flows through <unk> and Symphony as we've.

Scott put on a different order quantity or the non retail audit institutional audit. Unfortunately, Pedro organizations don't report prescriber level data.

Alfred Altomari: Unfortunately, the organizations don't report prescriber-level data, you know, from that audit.

Data format audit, so it sort of like a hospital with more on that we see it going in we don't see the pull through.

Alfred Altomari: So it's sort of like a hospital system alignment.

Alfred Altomari: We see it going in.

Alfred Altomari: We don't see the pull-through.

Alfred Altomari: What gives us great comfort that Amy will comment on, we see repeat orders.

It gives us great comfort that annual comment on received repeat orders.

Alfred Altomari: So it wasn't Roe v. Wade.

Volume is all wasn't really be way.

Alfred Altomari: We saw that continuously grow.

So all of that continuing to think about so and then but I will say our customer got significantly distracted during <unk> the planned Parenthood accounts.

Alfred Altomari: But I will say our customer got significantly distracted, you know, doing Roe v. Wade.

Alfred Altomari: The Planned Parenthood accounts, because we have to go through a formulary situation, they came off game in July.

Because we have to go through a formulary system situation since.

It became off game in July .

Alfred Altomari: You know, so we still see significant volume there.

<unk>.

So we still.

We still see significant volume there we've got a number of customers that are Daniel talked about what <unk> seen in the repeat ordering but I'm feeling a little more color. Thank you and thank you and I know, we can talk more offline.

Alfred Altomari: We've got a number of customers set off.

Alfred Altomari: Amy will talk about what she's seeing in the repeat orders. But if you want to give a little more color to that.

Amy Welsh: Yeah, thank you.

Amy Welsh: And, Oren, thank you.

Amy Welsh: I know we could talk more offline.

For some of the early.

Planned parenthood, and taking them on borrowing in Q1 and startup T to where others.

And how do we project from our forecasting.

Perspective, looking at the moderate or even some larger accounts coming on board.

Brian Melton properly forecast is in the back half of the year. So it is not an exact science to us yet another lever mental over here, we're able to properly plan.

Amy Welsh: It's not, I think, an exact science just yet.

Amy Welsh: But now that we're in the middle of the year, we're able to properly plan.

Amy Welsh: All right.

Alright.

Amy Welsh: It's still different.

Amy Welsh: Some customers buy once a week.

Some customers buy once a week.

Amy Welsh: Some customers buy once a month.

However to remind once a month, so we're getting the hang of it but.

Amy Welsh: So we're getting the hang of it, you know, but it's not like a pharmacy that buys every day.

It's not like a pharmacy to advise everybody by pharmacies that on demand shipping mix.

Amy Welsh: Pharmacies get on-demand shipping.

Amy Welsh: We're seeing repeat orders, so that's good.

We are seeing repeat orders so that's good.

Amy Welsh: I appreciate it.

And I appreciate it I'll, let somebody else ask a question.

Oren Livnat: I'll let somebody else ask a question.

Operator: Thanks, Oren.

Thanks Lauren.

Operator: If there are no further questions at this time, I'll turn it over to Mr. Oren.

Further question Pam.

Mr.

Alfred Altomari: ...following that meeting... ...additional guidance.

Alfred Altomari: Great.

Alfred Altomari: And for the first time, Oren, we saw in that guidance the word enforcement.

Alfred Altomari: Well, thank you all.

Great. Thanks.

Alfred Altomari: So I think we're at that crossroads.

Alfred Altomari: So just a couple of closing remarks.

Thank you all.

Alfred Altomari: Related to this, I go back to the presidential order that was signed by President Biden, where...

Alfred Altomari: ...was over his shoulder that actually empowered Health and Human Services to have...

Alfred Altomari: So we're at a good point, Oren.

Alfred Altomari: You know, our goals with the company, as you can see, are to grow the TORLA brand, but also a big end, and, you know, get the cash flow positive. By once again increasing TORLA's demand and revenue significantly, at the same time, reducing our op-ex footprint.

So just a couple of closing remarks.

Alfred Altomari: This is the first time that the guidelines included rhetoric about enforcement.

Our goal for the company as you can.

You can see our grow to the toilet Buchanan brand with also a big hand, and get the cash flow positive quarter.

Quarter by once again, increasing <unk> demand and revenue significantly at the same time, reducing our opex footprint for the second half of 2000.

Alfred Altomari: For the second half of 2019, our rallying cry, and operating op-ex, we're going to continue to drive the order. You know, we do believe that our execution in the first half has set us up for success in the second half, We'll continue to drive the initiatives.

For our rallying cry.

And operating Opex.

Alfred Altomari: I believe we're at that point.

Quarter.

We do believe that our execution in the first half that set us up for success in the second half.

We will continue to drive the initiatives, even as we bring on new initiatives.

Alfred Altomari: Even as we bring on new initiatives, you know, they don't replace the previous ones.

We are.

Place the previous ones our job is to keep executing all of the initiatives that we've been talking about so we can continue to keep seeing the double digit quarterly growth.

Alfred Altomari: Our job is to keep executing all the initiatives that we've been talking about, so we can continue to keep seeing the double-digit quarterly growth.

Alfred Altomari: You know, that's our partner.

Alfred Altomari: Our targeted efforts with CTV and the launch of our new relationship, in the telemarketing channel or teleprescribing channel with Norex.

That's our partner our targeted efforts with CTV and the launch of our new relationship with Nutella Telecom marketing channel or Tele prescribing channel.

<unk>, yes.

Alfred Altomari: And supporting, as importantly, our sales force, who's on the ground generating demand for us.

And supporting most or as importantly, our sales force is on the ground generating demand for US we will continue to engage on and look at the external factors that arm was just talking about that we're not totally in control, but we still think we should be at the table discussing these because they do have an impact.

Alfred Altomari: We'll continue to engage and look at the external factors that Oren was just talking about, that, you know, we're not totally in control of, you know, but we still think we should be at the table discussing these, because they do have an impact.

Alfred Altomari: So, you know, we're starting to see things as...

Alfred Altomari: And we believe, you know, as I've said, you know, things are turning for the better.

And our growth and we believe as I said things are turning for the better we continue to believe that the enforcement of the federal law on the contraceptive coverage is good public policy in these times.

Alfred Altomari: ...and some of the smaller PBMs comply more fully with the ACA.

Alfred Altomari: So we're seeing...

Alfred Altomari: We continue to believe that an enforcement of the federal law, and the contraceptive coverage is good public policy.

Alfred Altomari: ...so proud of our group and the industry.

Alfred Altomari: And these times, you know, we also have been making.

We also have been making until then.

Alfred Altomari: Until then, we continue to focus on what we can control, and delivering on what we think are very targeted plans to build our business.

And we continue to focus on what we can control and delivering on what we think kind of very targeted plan.

With our business.

Alfred Altomari: You know, so hopefully you get a sense that we have strategic initiatives in both of these channels, which can really grow our business, both in the retail side and in the non-retail side.

Hello.

Hopefully you get a sense that we have strategic initiatives in both of these channels, which can really grow our business.

It's both on the retail side and in the non retail side, we signed up with some great partners.

Alfred Altomari: We've signed up with some great partners.

Alfred Altomari: And so, to me, you know, we've got all the pieces in place to really significantly grow this business, and to get to cash flow positive.

And so to me we've got all the pieces in place to really significantly grow this business and to get to cash flow positive. So I. Thank you all for listening. We appreciate it and we're looking forward to seeing more of you in the upcoming months. So thank you again for listening in today.

Alfred Altomari: So I thank you all for listening.

Alfred Altomari: We appreciate it.

Alfred Altomari: We're looking forward to seeing more of you in the upcoming months.

Alfred Altomari: So thank you again for listening in today.

Operator: Ladies and gentlemen, this concludes today's conference call.

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

Operator: Thank you for participating.

Operator: You may now disconnect.

[music].

Alfred Altomari: This is not an agile issue.

Operator: A Day at the Riot Murders, loan shark attacks, poems on fire, Caesar, Murder on live radio, Beards and Hairs.

Operator: Mayhem, despotic videos.

Alfred Altomari: As we talked before, this is an industry issue.

Operator: Bail'em, legal investigatu-

Yes.