Q2 2022 Evoke Pharma Inc Earnings Call

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Speaker 1: Good afternoon and welcome to the evoke pharma second quarter 2022 earnings conference call.

Good afternoon, and welcome to the evoke pharma second quarter 2022 earnings Conference call. Currently all colors have been placed in a listen only mode.

Speaker 1: Currently all colors have been placed in a listen only mode and following management's prepared remarks, the call will be open up for questions. If you'd like to ask a question at the time, please press star one on your telephone keypad. If you need to remove yourself from the queue, press star two. At any time, if you should need operator assistance, press star zero.

Following management's prepared remarks, the call will be opened up for questions. If you'd like to ask a question at that time. Please press star one on your telephone keypad, if you'd be to remove yourself from the queue Press star two.

Anytime if you should need operator assistance press Star Zero. Please be advised that today's call is being recorded I will now turn the call over to Daniel Pinto watching. Thank you you may begin.

Speaker 1: Please be advised that today's call is being recorded. I will now turn the call over to Daniel Conto-Botting. Thank you. You may begin.

Speaker 2: Good afternoon and thank you for participating in evokes farmers conference call today. With me today our David Garner, evokes Chief Executive Officer, Chris Quessenberry, Jamalie's Chief Commercial Officer from Arizona, and Matthew Diannafrio, evokes Chief Business Officer.

Good afternoon, and thank you for participating any books farmers conference call today with me today are Dave Gonyer books, Chief Executive Officer, Chris question, Barry <unk>, Chief commercial officer from episodic.

And Matthew Vietnam.

Evokes chief business Officer.

Speaker 2: By now, you should have a copy of the press release we issued earlier. If not, it is available on the Investor Relations page of our website at evokefarmer.com.

By now you should have a copy of the press release, we issued earlier if not it is available on the Investor Relations page of our website at evoke Parma Dot com.

Speaker 2: We encourage everyone to read today's press release as well as the vote quarterly report on Form 10-Q , which is now filed at the SEC.

We encourage everyone to read today's press release as well as evokes quarterly report on Form 10-Q, which has now filed with the SEC.

Speaker 2: The company's 10-Q report and press release are also available on AVOC's website. Please note that certain information discussed on the call today is covered under the safe harbor provisions of the Private Security Litigation Reform Act.

The company's 10-Q report and press release are also available on <unk> website.

Please note that certain information discussed on the call today is covered under the Safe Harbor provisions of the private Securities Litigation Reform Act.

Speaker 2: We caution listeners that during this call, management and remaking forward-looking statements. Actual results could differ materially from those stated or implied by these forward-looking statements due to risk and uncertainties associated with the company's business. These forward-looking statements are qualified by the cautionary statements containing evokes pressure uses and SEC filings, including its annual report on form 10K and subsequent filings.

We caution listeners that during this call management will be making forward looking statements actual results could differ materially from those stated or implied by these forward looking statements due to risks and uncertainties associated with the company's business. These forward looking statements are qualified by the cautionary statements contained any bulks press releases.

<unk> SEC filings, including its annual report on Form 10-K and subsequent filings.

Speaker 2: This conference call contains time sensitive information that is accurate only as of the date of this live broadcast. You will undertake no obligation to revise or update any forward looking statements to reflect events or circumstances after the date of this conference call. With that, I will now like to turn the call over to Dave Garner. Dave?

This conference call contains time sensitive information that is accurate only as of the date of this live broadcast.

<unk> undertakes no obligation to revise or update any forward looking statements to reflect events or circumstances. After the date of this conference call with that I would now like to turn the call over to Dave Gardner Gabe.

Speaker 3: Thanks, Daniel, and thank you all for joining us today. I'll be providing updates on key developments that have occurred during the second quarter ending June 30 and thus far in Q3. I'll then turn the call over to Chris and Matt to discuss commercial operations and financial.

Thanks, Danielle and thank you all for joining us today.

Providing updates on key developments that have occurred during the second quarter ending June 30th thus far in Q3, I'll, then turn the call over to Chris and Matt to discuss commercial operations and financials.

Speaker 3: I'd like to first begin this afternoon with a key and important data point. During the second quarter, our pharmacy and patients support program received the largest number of inbound quarterly prescriptions to date with more than 500 patients.

I'd like to first begin this afternoon with a key and important data point.

During the second quarter, our pharmacy and patient support program received the largest number of inbound quarterly prescriptions to date with more than 500 patients.

Speaker 3: That's an increase of 24% compared with the first quarter of 2022.

That's an increase of 24% compared with the first quarter of 2022.

Speaker 3: Why is this so important? This patient support program provides patient access to viruses and nurses.

Why is this so important.

This patient support program provides patient access to pharmacists and nurses.

Speaker 3: Support for benefit verification in prior authorization and is critical to patients attaining access to the medicine their provider prescribed for them.

Support for benefit verification and prior authorization and is critical to patients obtaining access to the medicine, they're provider prescribed for them.

Speaker 3: We see this program in partnership with the Vitacare Prescription Services as a patient portal to the entire healthcare universe with vital touch points that provide a seamless and reliable patient experience to optimize their benefits and ensure that patients receive their prescription at the most affordable cost.

We see this program in partnership with the bite occur prior to care prescription services as a patient portal to the entire health care universe with vital touch points that provide a seamless and reliable patient experience to optimize their benefits and ensure that patients receive their prescription.

At the most affordable cost.

Speaker 3: We've now converted our reimbursement program primarily over divided care, which is a wholly owned subsidiary of GoodRx.

We have now converted a reimbursement program primarily over to fly to care, which is a wholly owned subsidiary of good Rx.

Speaker 3: This program will serve as a valuable indicator of Jimoti prescription pills for the second half of this year.

This program will serve as a valuable indicator of zamboni prescription fills for the second half of this year.

Speaker 3: Crystal discuss how we believe vital care and other partnerships enhance our second half outlook and beyond as well.

This will discuss how we believe by the care and other partnerships enhance our second half outlook and beyond as well.

Speaker 3: One significant feature of our HUB platform is the streamlining of the complex process to submit and receive approval from medicine for both providers and patients. So patients can start their medications more quickly.

One significant feature of our hub platform is the streamlining of the complex process to submit and receive approval for medicine for both providers and patients.

Patients can start their medications more quickly.

Speaker 3: This is critical for patients with gastroparesis who are symptomatic and are looking for relief.

This is critical for patients with Gastroparesis, who are symptomatic or looking for relief.

Speaker 3: As our customers navigate insurance coverage, positive coverage and reimbursement decisions that open access to gemotives critical.

As our customers navigate insurance coverage positive coverage and reimbursement decisions that open access to gymboree is critical.

Speaker 3: The recent announcements of the new state Medicaid approval in Texas and Florida are so important.

The recent announcements of the new state Medicaid approval in Texas, and Florida are so important.

Speaker 3: as these states provide services to approximately 10 million or nearly 16% of the Medicaid population national.

As these states provide services to approximately $10 million or nearly 16% of the Medicaid population nationally.

Speaker 3: What's more, Texas and Florida add to the list of other state Medicaid approvals, including New York, which we announced in Q1 of this year, and Michigan prior to that.

What's more Texas, and Florida add to the list of other state Medicaid approvals, including New York, which we announced in Q1 of this year and Michigan prior to that.

Speaker 3: We're pleased that the progress and access for the Medicaid population as it represents a recognition of value and limited alternative of options for patients.

We're pleased with the progress and access for the Medicaid population as it represents a recognition of value and limited alternatives of options for patients.

Speaker 3: We'll continue to update, monitor, and track utilization in all these government programs.

We'll continue to update monitor and track utilization and all these government programs.

Speaker 3: And on last quarter's call, we mentioned that EVO was granted FDA market exclusivity in April . As a result, EVO has exclusive US marketing rights over a three-year period beginning on Gemotes FDA approval under the Hatch-Waxen Act to protect the product from generic competition.

On last quarters call, we mentioned that Evo was granted FDA market exclusivity in April as a result, evoke as exclusive U S marketing rights over a three year period, beginning on <unk> FDA approval under the Hatch Waxman Act to protect the product from generic competition.

Speaker 3: A proprietary position regarding Jemodi got a boost in July when we announced that he both was awarded a Canadian patent covering the method of use of Jemodi.

Prior to your position regarding <unk> got a boost in July when we announced that evoke was awarded a Canadian patent covering the method of use of <unk>.

Speaker 3: importantly the new protections in Canada mirror those granted in the US

Importantly, the new protections in Canada mirrors those granted in the U S.

Speaker 3: The new patent adds to two other FDA orange book listed patents under the same title that don't expire until 2022-2030.

The new patent adds to two other FDA Orange book listed patent under the same title that don't expire until 2029 2030.

Speaker 3: Another positive development during the quarter was the May announcement that our first ever patient-centric survey conducted by Evoke and Eversana reported increasing patient awareness, trial, and product usage of gemoting. I'll let Chris tell you a bit more in a moment, but overall, you've gathered from patients are promising and clearly show the vast potential value that gemoting provides to people suffering with symptoms associated with gastroparesia.

Another positive development during the quarter was the may announcement that our first ever patient centric survey conducted by evoke an ever Sona reported increasing patient awareness trial and product usage of promoting.

I'll, let Chris tell you a bit more in a moment, but overall these data gathered from patients are promising and clearly show the SaaS potential value to motive provides to people suffering with symptoms associated with Gastroparesis.

Speaker 3: Last month, I was able to meet with several key opinion leaders in gas reprisis. And in conjunction, also spent a few days working with some of our sales representatives out in the field, meeting with gas thermonrologists, physician assistants, nurse practitioners, and medical assistants across the country.

Last month is able to meet with several key opinion leaders in Gastroparesis and in conjunction also spend a few days working with some of our sales representatives out in the field meeting with Gastroenterologists physician assistants nurse practitioners and medical assistance across the country.

Speaker 3: The reception and feedback I received was quite rewarding, very encouraging, and rather humbling as it relates to patients struggling with gastroparesis and how Jomoti is helping.

The reception and feedback I received was quite rewarding.

Very encouraging and rather humbling as it relates to patients struggling with Gastroparesis and how <unk> is helping.

Speaker 3: This mirrors what we've heard in both HCP and patient market research.

This mirrors, what we've heard in both HCP and patient market research.

Speaker 3: My experience out in the field allowed me to speak, discuss, and further understand the benefits of CIMOTI with frontline health care providers firsthand.

My experience out in the field allow me to speak discuss in further understand the benefits that <unk> with frontline health care providers firsthand.

Speaker 3: It also provided me the increased confidence for gemotives important and needed place in the treatment of patients with gastropresis. For today and for the future.

It also provided me the increased confidence for <unk> important and needed place in the treatment of patients with gastroparesis for today and for the future.

Speaker 3: In May, Evoque also participated at Digestive Disease Week, which is the largest global conference for gastroenterology.

And may.

He will also participate at digestive disease week, which is the largest global conference for Gastroenterology.

Speaker 3: And we are gratified to present a poster of distinction to scientific and clinical experts and key opinion leaders that provided real world statistics using the largest claims database available, which covers over 80 million lives in the US.

And we are gratified to present, a poster of distinction to scientific and clinical experts and key opinion leaders that provided real world statistics, using the largest claims database available which covers over 80.

80 million lives in the U S.

Speaker 3: to assess the incidence of TD, including patients taking metoclopamide over a 10-year period.

To assess the incidence of TD, including patients taking <unk>.

Over a 10 year period.

Speaker 3: Results for patients that receive medical from I demonstrated a lower risk of developing TARDIS-DISKINESIA or TD than stated in previously reported studies.

Results for patients that receive medical <unk> demonstrated a lower risk of developing tardive dyskinesia with TD.

Stated in previously reported studies.

Speaker 3: The data showed 98.8 per 100,000 incidences of PD, or just 0.1% among gastroparesis patients treated with metoclopramide.

The data showed $98 eight per 100000 incident incidences of TD.

0.1% among gastroparesis patients treated with medical command.

Speaker 3: The poster supports the safety profile of medical admitted is the only approved molecule in the U.S. to treat symptoms of acute and recurrent diabetic gastroparesis.

The poster supports the safety profile of medical <unk> is the only approved molecule in the U S to treat symptoms of acute and recurrent diabetic gastroparesis.

Speaker 3: The aim of the study was to update the medical literature with current information about the incidence of TD and patients with and without gastroparesis and those taking medical from my.

The study was to update the medical literature with current information about the incidence of TD patients with and without Gastroparesis and those taking medical over mine.

Speaker 3: By supporting the largest ever real-world study on this important issue, we hope these data help HCPs and organizations understand the incidence of TD, recognize patients who might be at a higher risk,

By supporting the largest ever real World study on this important issue. We hope these data help hcp's.

And organizations understand the incidence of TD.

Recognize patients who might be at a higher risk.

Speaker 3: and revisit the benefit versus risk of this important compound in patients with gastroparesia.

And revisit the benefit versus risk of this important compound in patients with gastroparesis.

Speaker 3: In the second quarter and now in the third, we continue to expand access to gemoting collaboration with Everston and other partners that will help us access patients who need help with their disease. I wanna add to what we said in Q1 about our partnership with Viticare, which I referred to earlier. Viticare is an e-prescription service that provides an effective, quick and convenient way for patients to receive medication.

In the second quarter and now in the third we continue to expand access to demoting collaborations with ever assignment other partners that will help us access patients who need help with their disease.

Want to add to what we said in Q1 about our partnership with <unk>, which I referred to earlier.

Medicare is it E prescription service that provides an effective quick and convenient way for patients to receive medications.

Speaker 3: This platform is meant to help patients navigate key access and adherence barriers for brand medications like Jemote.

This platform is meant to help patients navigate key access.

In adherence barriers for brand medications like <unk>.

Speaker 3: While the specifics of a deeper long-term partnership are still being discussed between VitaCare and Evoque through Eversana, we've expanded the service from a pilot in February to full-scale launch in May, which has contributed to the increase in prescriptions, especially inbound.

While the specifics of a deeper long term partnership we are still being discussed between invited care any vote through ever Sona. We've expanded the service from our pilot in February to full scale launch in May which has contributed to the increase in prescriptions, especially unbound and.

Speaker 3: And specifically, VitaCare helps patients understand coverage and identify available savings opportunities, as well as facilitating communications between providers and payers.

And specifically by the care helps patients understand coverage and identify available savings opportunities as well as facilitating communications between providers and payers.

Speaker 3: The last key developments I like to touch on were our successful efforts to regain NASA compliance and improve evokes cash position.

The last key developments I'd like to touch on where our successful efforts to regain NASDAQ compliance and improve evokes cash cash position.

On June 7th we received notice from NASDAQ, stating that we had regained compliance with the minimum $1 per share requirement.

As we also disclosed earlier in May evoke utilizes <unk>.

M or at the market facility to raise net proceeds of approximately $7 $1 million.

And this extends our cash runway into the second quarter of 2023 with approximately $13 $5 million in cash as of June 30.

And with that I'll turn the call over to Chris Chris.

Thank you Dave.

Speaker 4: The second quarter has been a strong quarter of progress on many measures. Performance wise, we had the strongest quarter to date.

The second quarter has been a strong quarter of progress on many measures performance wise, we had our strongest quarter to date with 24% increase in prescriptions and.

Speaker 4: In addition, the number of Gemodi new cumulative prescribers.

In addition, the number of chimbote, new cumulative prescribers increased by 23% from 543 at March 31 to 669, New prescribers at June 30 of this year.

Speaker 4: decreased by 23% from 543 at March 31 to 669 new prescribers at June 30.

Speaker 4: As I look back to the beginning of this year, our growth is at the strongest pace since January compared to any time period since long.

As I look back to the beginning of this year our growth is at the strongest pace since January compared to any time period since launch.

Speaker 4: In fact, we have already exceeded our dispensed total for all of 2021 through the first half of this year. There are several...

Fact, we have already exceeded our dispense total for all of 2021.

First half of this year.

There are several contributing factors to this including improved brand messaging stronger execution from our sales team and key initiatives to streamline the prescription process for patients and providers.

Speaker 4: brand messaging, stronger execution from our sales team, and key initiatives to streamline the prescription process for patients and providers.

Speaker 4: One of the more significant changes to our business was our change in distribution via a partnership with FlightiCare prescription solutions, which is now owned by GoodRx.

One of the more significant changes to our business was our change in distribution via partnership with Baidu care prescription solutions, which is now owned by <unk>.

Primary reasons for partnering on site of care.

Speaker 4: simplify and streamline the prescribing process for providers.

To simplify and streamline the prescribing process for providers.

Speaker 4: and a great prescribing into their workflow and leverage Vitacare's automated platform to duplicate planes.

Great prescribing into their workflow and leveraged <unk> automated platform to adjudicate claims. In addition, we wanted to communicate with providers and patients and provide an auto shipments to patients who requested it.

Speaker 4: In addition, we wanted to communicate with providers and patients and provide auto shipments to patients.

Speaker 4: The ease of prescribing and speed to therapy are some of the most important drivers of utilization for our customers, and we feel this was an important change to

Ease of prescribing and speed to therapy or some of the most important drivers of utilization for our customers and we feel this was an important change to make for the long term health of our business.

Speaker 4: making such a significant change to a key process. There are always inherent challenges and you run the risk of slowing your performance in the near term. Overall, we see system...

We're making such a significant change to our key process. There are always inherent challenges and you run the risk of slowing your performance in the near term.

Overall, we see sustaining or improving performance.

Speaker 4: And based on these learnings and performance from the pilot program, we launched a full-scale rollout to all our recussengers on May 2nd. Prescriptions via Vitacare are already account for 62% percent per-

And based on these learnings and performance from the pilot program, we launched a full scale rollout to all of our customers on the second.

Prescriptions be invited care already account for 62% percent of the prescriptions through the end of the second quarter.

Speaker 4: The rate of prescription vote growth for vital care prescriptions is 2.3 times the overall growth of prescriptions of a gemodi synth law.

The rate of prescription growth.

<unk> provided care prescriptions is two three times the overall growth in prescriptions of <unk> since launch.

Speaker 4: We spent a good amount of time on the second piece here, which is patient awareness.

I spent a good amount of time on the second piece here, which is patient awareness and what we've learned about patients.

Speaker 4: In the second quarter we conducted our first patient ATU study, which stands for Awareness Trial Assessment.

In the second quarter, we conducted our first patient <unk> study, which stands for awareness trial and usage.

Speaker 4: We surveyed 110 patients that were representative of patients with gastroparesis, including those with...

This survey of 110 patients that were representative of patients with gastroparesis, including those with and without diabetes.

Speaker 4: Seventy percent of respondents experienced flares, generally defined as sudden, acute, and more severe periods of GP symptoms.

70% of respondents experienced players generally defined as sudden acute and more severe periods of GP symptoms.

Diabetic gastroparesis patients experience up to 13 players on average each year and most of these patients have taken medications for their gastroparesis, including many that take multiple medications.

Speaker 4: of the 13 flares on average each year. And most of these patients have taken medications for their gastroparesis, including...

Speaker 4: Roughly half of users report no symptom improvement from either oral tablet or liquid metoclopramide or other off-label medications.

Roughly half of users report no symptom improvement from oral tablet or liquid metoclopramide or other off label medications.

Speaker 4: As a result, 38% of respondents discontinued those GP medications primarily due to either side effects or lack of symptoms.

As a result, 38% of respondents discontinued those GP medications, primarily due to either side effects.

A lack of some tenant improvement.

Speaker 4: One fundamental issue among patients is difficulty with taking.

One fundamental issue among patients is difficulty with taking oral GP medications with 50% of respondents saying that they've had a tough time taking laurels.

Speaker 4: 50% of respondents saying that they had a tough time takes.

Speaker 4: not surprising that diabetic patients, diabetic gastroparesis patients.

It's not surprising that diabetic patients diabetic gastroparesis patients, indicating strong interest in trying a non oral option.

Speaker 4: strong interest in trying a non-oral option.

Speaker 4: Patient awareness of Jomoti has risen to 19% of patients compared to 8%

Patient awareness of <unk> has written risen to 19% of patients compared to 8% awareness last fall.

Speaker 4: Of those patients in the study who were aware of Jomoti prior to the survey, 43% are current

Those patients in the study who were aware of <unk> prior to the survey 43% are current users.

Speaker 4: The modie rated higher in experience scores across symptom relief, side effects, and ability to keep medication down compared to every other medication.

<unk> rated higher than experience scores across symptom relief side effects and ability to keep medication down compared to every other medication that was right.

Speaker 4: A hundred percent of Jamoda users reported seeing at least some symptom improvement on the nasal.

100% of Chimbote users reported seeing at least some symptom improvement on the nasal spray.

Speaker 4: These latest patient data underscore the unmet need within gastroparesis and reinforce our need to reach these patients with education.

These latest patient data underscore the unmet need within Gastroparesis and reinforced our need to reach these patients from education and helping them to understand there is a non oral option for them.

Speaker 4: helping them to understand there is a non-oral option for them.

Moving to physicians.

Speaker 4: Be back from the Ever Son of Sales organization, continues to be positive with regard to patient position.

The feedback from the ever sign a sales organization continues to be positive with regard to patient physician interest.

Speaker 4: Since product launch is taken on average, six to seven position details before position writes to the first.

Since product launch has taken on average 6% to seven physician details before a physician writes their first prescription which is lower than we initially expected and we believe can grant with a straightforward non oral benefit for route of delivery.

Speaker 4: which is lower than we initially expected. And we believe congruent with the straightforward, non-oral benefit for Radho.

Speaker 4: We are seeing improved access in the second quarter, which allows us to reach more healthcare providers.

We are seeing improved access in the second quarter, which allows us to reach more health care providers.

Speaker 4: New prescribing physicians increased 23% compared to the prior.

New prescribing physicians increased 23% compared to the prior quarter.

Speaker 4: HCP awareness stands at 80% of target GI.

ECP awareness stands at 18% of target Gis and awareness among non target Gis primary care physicians and NPS and <unk> have all risen since January .

Speaker 4: and awareness among non-target GI's, primary care physicians, and MPE's and PAs have all

Speaker 4: The most notable increase in awareness is among nurse practitioners and physicians.

The most notable increase in awareness among nurse practitioners and physician assistance.

Speaker 4: increased from 60% in the fall to 81% awareness.

Which increased from 60% in the fall to 81% awareness in our most recent survey.

Speaker 4: Strong awareness of our product, which is a score of 4 or 5 at a 5, is generally a leading indicator of prescribing, and that has also risen to its all-time high of 55% of strong awareness among all AC patients.

Strong awareness of our product, which is a score of four or five out of five and <unk>.

Generally a leading indicator of prescribing and that has also risen to its all time high of 55% of strong awareness among all hcp's from 48% at the beginning of the first quarter.

Speaker 4: January , we instituted new targets for our field sales team, enhancing the potential of their targets overall, and including MPs and PAs who were co-led pated within GI practice.

In January we instituted new targets for our field sales team enhancing the potential of their targets and we're all in including NPS and Tas, who are currently painted within Gi practices.

Speaker 4: They account for a significant portion of the medical management of gas.

They account for a significant portion of the medical management of Gastroparesis.

Speaker 4: GPs and PAs and other non-GI specialties continue to increase their contribution of total...

NPS in Tas and other non GI specialties continued to increase the contribution of total prescriptions for <unk>.

Speaker 4: Although we continue to obtain new prescribers, our reliance on new prescribers is left.

Although we continue to obtain new prescribers, our reliance on new prescribers is lessening with more most prescribing coming from ongoing prescribers.

Speaker 4: most prescribing coming from ongoing prescribers.

Speaker 4: 59% of our prescriptions overall came from HCPs who have written at least five or more

9% of our prescriptions overall came from Hep's, who have written at least five or more prescriptions for genuity.

Speaker 4: In the second quarter, we accelerate our speaker programs and train both GI and nurse practitioner and physician-assistant speakers. And we are pleased with initial attendance and educational impact.

In the second quarter, we accelerated our speaker programs and train both Gi and nurse practitioner physician assistant speakers and we are pleased with initial attendance and educational impact of these programs.

Speaker 4: Also in the second quarter, we updated our position campaign and method.

Also in the second quarter, we updated our physician campaign and messaging.

Speaker 4: campaign is a natural evolution from our spray away symptoms campaign which focused on the route of administration purge emotive and the benefits of bypassing the GI tract.

This campaign is a natural evolution from our spray away symptoms campaign, which focused on the route of administration for Genuity and the benefits of bypassing the Gi tract.

Our new campaign.

Which is titled the right delivery. So it can work focuses on more on the differentiation from oral therapies that are at the mercy of erratic absorption and thus may delay symptom relief.

Speaker 4: work. Focuses on more on the differentiation from oral therapies that are at the mercy of erratic absorption and thus may delay symptom relief.

In early August we plan to launch our new patient campaign.

Speaker 4: Similar to the evolution for HCPs, we are moving from spray away symptoms to think outside.

To the evolution for Hcp's, we're moving from <unk> symptoms to think outside of the pillbox.

Speaker 4: Patient P-Bex this campaign via marker research was very well.

Patient feedback to this campaign via market research was very well received when patients saw the profile for <unk> and our new campaign. They indicated an overwhelming interest in learning more about genuity rating their interest of $4 nine out of five which is unheard of.

Speaker 4: patients saw the profile for Gemoti and our new campaign. They indicated an overwhelming interest in learning more about Gemoti, rating their interest of 4.9 out of five.

Speaker 4: We're continuing to make progress on the access to Jevote among insurance companies and pharmacy benefit managers.

We're continuing to make progress on the access to Giovanni among insurance companies and pharmacy benefit managers.

While coverage and reimbursement held steady.

Speaker 4: continue to have productive dialogues with payers through our People of the National.

We continue to have productive dialogues with payers through our cable moment national account teams.

Speaker 4: We expect plans to want to drive you generic utilization for patients and would require patients to try courses.

Importantly, we expect plans to want to drive your generic utilization for patients and would require patients to try of course of oral therapy <unk>.

Speaker 4: Our position is to work with payers to allow access for patients who cannot take oral or for those who oral is provided inadequately.

Our position is to work with payers to allow access for patients who cannot take oral or for those who orally provided inadequate response.

Speaker 4: As Dave mentioned, Florida has recently added Jomoti to the preferred drug list and Medicaid is an ongoing opportunity.

Dave mentioned, Florida has recently added <unk> to the preferred drug list and medicated, an ongoing opportunity for us to do.

Speaker 4: And at least 97 plans have approved at least one prescription for demotions in launch. And 54 plans have...

Date at least 97 plants have improved at least one prescription for <unk> since launch and 54 plans have approved <unk> in the second quarter alone.

Speaker 4: The majority of prescriptions require a prior authorization, where improving our ability to gain approval across commercial, Medicare, and Medicaid payers. Important.

While the majority of prescriptions require prior authorization, we're improving our ability to gain approval across commercial Medicare and Medicaid payers.

Important to note that when a prior authorization and approved.

<unk> improved for the year.

Speaker 4: We expect to gain positive decisions and improve access from payers over time.

We expect to gain positive decisions and improve access from payers over time as they see demand grow experienced hegemony patients respond clinically and are educated on the needs of this patient population and the differences between oral and nasal route of administration. We will believe we believe they will understand the value proposition.

Speaker 4: We see demand growth, experience how gemodi patients respond clinically, and are educated on the needs of this patient population, and it differences between oral and nasal rapid administration. We will believe.

Cambodia.

Speaker 4: As I close out the commercial update, I'd like to summarize a few key points. Awareness of Jomoti is high among providers.

As I close out the commercial update I'd like to summarize a few key points.

Awareness and promoting as high among providers and growing on patients strong awareness of what we are targeting and you can expect us to work even more diligently to encourage patients to request genuity and provide them the tools to facilitate the dialogue between physicians and patients.

Speaker 4: can expect us to work even more diligently to encourage patients to request a medical review and provide them the tools to facilitate the dialogue between physicians and patients.

We have learned a great deal about what has led providers to decision to prescribe and we are enhancing the positioning and messaging of Jim moving to more clearly differentiate from oral therapies.

Speaker 4: and we are enhancing the positioning and messaging of Jemodi to more clearly differentiate from or.

Speaker 4: The performance continues to steadily improve in terms of reach and access to providers.

Our performance continues to steadily improve in terms of reach and access to providers prescription volume number of new and total prescribers.

Speaker 4: volume, number of new and total prescribers, breath of prescribing from different specialties and death of prescribing among others.

Prescribing from different specialties and depth of prescribing among other leading indicators.

Speaker 4: Our goal is to increase the percentage of our utilization within moderate and severe patients, and firmly cement ourselves a second line behind generic. We are showing...

Our goal is to increase the percentage of our utilization within moderate and severe patients and firmly cement ourselves as a second line behind generic.

We're showing signs of progress among specialties with the greatest response from targeted Gis NPS NPA, saying they prefer to use genuity in second line, 40% and 44% respectively.

Speaker 4: greatest response from targeted GI's and MPs and PA's, saying they prefer to use DIMOTA as second line, 40 and 44%.

Speaker 4: We've taken significant strides to improve the access to Gemoti and hands-patient and provider experience through programs, including our partners.

We've taken significant strides to improve the access to genuity enhanced patient and provider experience through programs, including our partnership with defining care we.

Speaker 4: and continue to provide patient saving support and expect to improve coverage over time. And lastly, we continue to work on...

We will continue to provide patient savings support and expect to improve coverage over time.

And lastly, we continue to work on improving the conversion rate of prescriptions introduce expenses to be invited here and other efforts. This conversion hinges on coverage and coverage decisions via prior authorizations.

Speaker 4: conversion hinges on coverage and coverage decisions via prior authorizations, which needs to be

<unk> needs to be completed and submitted by.

Physician offices.

Speaker 4: We have a significant focus on this to help support the office staff in completing these in a timely fashion. This coordination is important and is critical.

We have a significant focus on this to help.

The office staff in completing these in a timely fashion. This coordination is important and it's critical to speed of therapy for patients on this metric we have improved speed to therapy to 12 days with invited care compared to 20 days historically for our program.

Speaker 4: On this metric, we have improved speed to therapy to 12 days within VitaCare compared to 20 days historically for our program.

With that let me turn the call over to Matt to discuss financials.

Speaker 5: Thanks, Chris. I'll now review our financial performance for the second quarter of 2022.

Thanks, Chris I'll now review, our financial performance for the second quarter of 2022.

Speaker 5: For the second quarter of 2022, net product sales were approximately 462,000 compared to 237,000 during the second quarter of 2021. And the net loss was approximately $2.2 million, or $0.71 per share, compared with $2.3 million, or $0.85 per share, for the second quarter of 2021. The increase in net sales was...

For the second quarter of 2022 net product sales were approximately 462000 compared to 237000 during the second quarter of 2021.

And the net loss was approximately $2 2 million or <unk> 71 per share compared with $2 3 million or <unk> 85 per share for the second quarter of 2021.

The increase in net sales was due to higher number of <unk> prescriptions.

Speaker 5: Research and development expenses totaled approximately 191,000 for the second quarter of 2022, compared with approximately 195,000 for the second quarter of 2021. These expenses generally relate...

Research and development expenses totaled approximately 191000 for the second quarter of 2022 compared with approximately 195000 for the second quarter of 2021.

These expenses generally related to manufacturing testing.

Speaker 5: The same quarter of 2022, selling general administrative expenses were approximately 2.3 million compared with 2.1 million for the second quarter of 2021.

For the second quarter of 2020 to selling general and administrative expenses were approximately $2 3 million compared with $2 1 million for the second quarter of 2021, we continue to expect that selling general administrative expenses will increase in the future as we continue to progress with the commercialization of <unk>.

Speaker 5: We continue to expect that selling general and restricted expenses will increase in the future as we continue to progress with the commercialization of Jamodi and we reimburse Eversana from the net profits obtained from the sales of Jamodi.

<unk> <unk> from the net profits obtained from the sales of <unk>.

Speaker 5: Total operating expenses for the second quarter of 2022 were approximately 2.6 million compared with 2.4 million for the same period of 2000.

Total operating expenses for the second quarter of 2022 were approximately $2 6 million compared with $2 4 million for the same period of 2021.

Speaker 5: In addition, we also received net proceeds of approximately 7.1 million from the sales into our ATM program during the second quarter, as they've mentioned. As of June 30th, 2022, companies cash and cash equivalents were approximately 13.5 million.

In addition, we also received net proceeds of approximately $7 1 million from the sales under our ATM program. During the second quarter as Dave mentioned as of June 32022, the company's cash and cash equivalents were approximately $13 $5 million.

Speaker 5: We believe, based on our current operating plan, that existing cash and cash equivalents as well as future cash flows from net product sales of Jamodi will be sufficient to fund operations at least into the second quarter of 2023.

We believe based on our current operating plan that existing cash and cash equivalents as well as future cash flows from net product sales of <unk> will be sufficient to fund operations at least into the second quarter of 2023.

Speaker 5: that I'll turn the call back over to the operator for questions from the analyst operator.

And with that I'll turn the call back over to the operator for questions from the analysts operator.

Speaker 1: At this time, if you wish to ask a question, please press star 1 on your telephone keypad. You may remove yourself from the queue by pressing star 2. And we'll pause for a moment to allow questions to queue.

At this time, if you wish to ask a question. Please press star one on your telephone keypad, you may remove yourself from the queue by pressing star two.

And we will pause for a moment to allow questions to queue.

Okay.

And once again that is star and <unk>.

Speaker 1: In the case you have no questions, this concludes the Q&A portion of today's call. I would now like to turn the call back over to Dave Garner for any additional closing remarks.

And it appears we have no questions. This concludes the Q&A portion of today's call I would now like to turn the call back over to Dave Gonyer for any additional or closing remarks.

Speaker 3: Okay, we continue to see improved performance from quarter to quarter and are making great strides in our programs and the services that we're providing to physicians and patients. And it's showing up in improvements in the leading indicators of what we deem as success. And I'm really excited about what we've accomplished in this second quarter and how we've set ourselves up for the continued success for the remainder of the year. So we look forward to providing more updates as they occur. And thank you for joining today.

Okay. We continue to see improved performance from quarter to quarter and are making great strides in our programs and the services that we're providing to physicians and patients and it's showing up in improvements and the leading indicators of what we deem it a success.

Really excited about what we've accomplished in the second quarter and how we've set ourselves up for continued success for the remainder of the year. So we look forward to providing more updates as they occur and thank you for joining today.

Okay.

Speaker 1: This concludes today's evoke Pharma Second Quarter 2022 Ernie's call and webcast. You may disconnect your line at this time and have a wonderful day.

This concludes today's evoke pharma second quarter 2022 earnings call and webcast. You may disconnect. Your line at this time and have a wonderful day.

Speaker 6: Thank you for watching!

Okay.

Thanks.

Thanks, Paul.

Yes.

[music].