Q3 2025 ARS Pharmaceuticals Inc Earnings Call
Good morning and welcome to ARS Pharmaceuticals' conference call.
All participants are in listen-only mode.
After the company's prepared remarks, we will open the line for questions.
Please be advised that today's conference is being recorded.
I'll now turn the call over to Justin chakma. Chief business officer. Please go ahead.
Good morning, and thank you for joining our third quarter 2025 earnings conference call.
With me on the call are Richard lowenthal. Our co-founder president and CEO, Eric Harris, our chief commercial officer and Kathy Scott, our CFO
this morning, we issued a press release detailing our financial results and Commercial highlights.
That press release and the slide presentation, which will refer to today during today's call are available in an investors and media section of our website at ara.com.
Before we begin, please note that today's remarks and slide presentation may contain forward-looking statements actual results. May differ materially, please refer to our press release and SSC filings for further risk disclosures.
With that, I'll turn the call over to Rich.
Thank you, Justin. Good morning everybody. And thank you for joining us to discuss. What has been a pivotal quarter for ARS Pharma driven by the continued momentum of nephew in the US and around the world.
Third quarter marks the true inflection point for our business. As you can see on slide 3 us net product revenue for nephew grew again. Quarter over quarter, reaching 31.3 million in Q3 representing a 2.5. Fold increase from the prior quarter and exceeding consensus, expectations of 28.3 million
This change reflects a strong growth in new patient starts and overall demand for Nephi. Surveys among nephew users indicate that we can expect durable utilization and reoccurring refill Behavior.
Trends that we expect will continue to build as both coverage and awareness expand these results. Show that our multifaceted commercial strategy is delivering results.
Later this month, our first analysis of real world treatment outcomes from the nephew experience program will be published in the annals of Allergy Asthma and Immunology with a total of 554 patients treated.
Findings show that about 9 out of 10 patients experiencing anaphylaxis were effectively treated with a single dose of Nephi, which is consistent with outcomes for epinephrine injections, where either an IM injection or EpiPen requires a second dose approximately 10% of the time to resolve the event.
Updated results in 680 patients were highlighted in an oral presentation at acaai and reinforced that Nephi delivers equivalent outcomes to injection products in real world. Use,
On top of a series of case reports also presented at acai by independent Physicians.
We expect additional peer-reviewed publications in 2026 that will further validate Nephi's clinical experience with injection products.
Before Eric reviews, our commercialization details. There are 2 important topics I want to touch on today.
first why Nephi's Revenue trajectory isn't accurately reflected in iqvia script data, and second what we've learned from recent market dynamics, including back to school, seasonality,
Starting with iqvia.
as we've noted before the weekly iqvia rapid data which are generally available on a paid subscription basis,
provide a directional view of prescription activity but are not completely accurate and reliable measures of nephew's True Performance or market share.
Iqvia data sets often exclude, a number of channels that are Central to our business.
Including certain retail mail order and Specialty Pharma volumes as well as bulk purchases by institutions and clinics that buy directly through wholesalers.
These additional sales are not accurately captured by a Cuba and our variable from week to week and thus cannot be predicted.
Turning to market dynamics.
during the back-to-school season, allergies and pediatricians experienced, a huge surge in patients, visits including checkups and support physicals
That higher patients, volume means that hcps have significantly less time for an appointment. Typically just 5 to 7 minutes per patient, leaving little to no opportunity to discuss new treatment options or changing prescriptions.
That challenge is even greater for patients who still need prior authorizations.
As a result in the second half of Q3, we saw temporary pause in market share growth.
Importantly, though, we view this as a 1-time event.
Looking ahead to Q4.
Sales will decrease from Q3 given the overall epinephrine market, which typically declines about one-third due to seasonality and the holidays.
Then as we move into 2026, we expect to return to quarter over quarter growth as both market share and overall prescription volumes rise in parallel.
To further Drive adoption and accessibility we recently launched our new get. Nephew on us program at the get nephew.com website.
This is an important initiative designed to help patients switch to nephew year-round with a hassle-free virtual prescriber interaction at no cost to patients if covered by insurance.
This program is anticipated to help accelerate sales growth year round and circumvent the hectic back to school season. Eric will share, share more details, but this program removes much of the patient and physician burden and prescribing Nephi by Shifting the prescription prior authorizations, if needed and patient training to our virtual physician system.
Once patients are on Nephi positions, can more easily manage refills electronically or patients can return to get nephew cam to get additional renewal prescriptions.
Together with our broader DTC campaign, this initiative makes it simpler than ever for patients to experience the benefits of Nephi and represents the key driver of long-term adoption.
In fact, we already have proof of what hassle-free prescribing can do for Nephi sales.
Your nephew was launched in Germany in late June, where there is a more seamless prescribing experience without additional hcp paper paperwork.
The slope of the market share capture in just the first few months.
Has been 3 times higher than what we've seen in the US showing just how impactful growth can be when administrative burdens are not a barrier.
This is also a strong signal for our global growth trajectory. Nephew received approval in Japan in September, with launch anticipated to start in the fourth quarter of 2025.
We expect approvals in Canada by the first quarter of 2026 with launch expected in the first half of 2026.
and we expect approval in China, in the first half of 2026,
we expected as these launches begin, they will start to contribute to the total revenue and cash proceeds in the second half of next year, as distribution scales across partner regions.
On the clinical front enrollment is ongoing in our phase, 2B year to carry trial.
And we are on track for topline data in the middle of 2026.
This indication represents a major label expansion opportunity in a 2 million patient Market in the United States.
Early market research with allergists supports that our nasal spray product, if approved, could be prescribed to more than 60% of all of their CSU patients, irrespective of whether those patients are on antihistamines, biologics, or combination therapy.
finally, in September, we secured in up to 215 million dollar Term Loan facility from which we drew down 100 million dollars initially
Strategically, we chose this structure in partnership with our largest shareholder over other capital vehicles to increase commercial investment and, further, strengthen our balance sheet without dilution.
This reflects our confidence and that of our investors in Nephi's, durable cash flow profile and long term potential.
Our plan Investments are geared towards expanding the current market, and improving adherence, and refill rates, re-engaging, elapsed, patients, and activating untreated patients, as well as converting the, the current 2 billion dollar. Annual us epinephrine Market at Nephi's net price.
With this financing, we ended Q3 with approximately 288 million in cash. Cash equivalents and short-term Investments giving us even more flexibilities for our evolving commercial initiatives.
In summary we're building momentum across every dimension of our business.
From revenue growth and market share growth to access real world evidence and Global expansion.
All while maintaining a strong balance sheet, I'll now turn it over to Eric to provide more detail on our us commercial performance.
Thanks Rich, the fundamentals of our commercial execution. Continue to strengthen and I'm pleased to share how our strategies translating into tangible results.
Universities and colleges, as well as retail orders from clinics and hospital networks.
This quarter, we've observed modest improvements in Gross to net retention with cash prescriptions. Decreasing from about 20% to approximately 12% of total volume.
By offering cash prescriptions through blink RX and other directly managed programs and optimizing our co-pay by on program at the point of sale. We've gained greater control which led to favorable, gross, net, performance, and improved profitability.
Our DTC campaign is also delivering meaningful engagement as seen on slide 4.
Consumer awareness has climbed from 20% pre-campaign to 56%. As of September,
And intend to get nephew remains high.
Approximately 80% of surveyed patients, say they are very likely or extremely likely to ask their health care provider about Nephi after learning about it.
The early lift from the campaign aligned with benchmarks for promotional sensitive Brands and we believe it will continue to improve as awareness grows.
So accelerate greater adoption work excited to introduce our get nephew on us initiative which is part of our direct consumer campaign.
As outlined in slide 5, this program was designed to simplify access to Nephi.
Patients can schedule quick virtual visit with a prescriber to get started?
Once prescribed Nephi can be shipped directly to their home or picked up at the pharmacy of their choice. Typically, with a zero co-pay for most commercially insured patients.
Importantly, patients are not required to wait for the current auto injector prescription to expire. They can transition to Nephi immediately without the need of an additional appointment with their hcp.
By minimizing hassle assisting with coverage and the prior authorization and enabling straightforward Auto refills. This program makes it easier than ever for patients to choose Nephi and stay protected.
We've incorporated the Get Nephi and US program into all of our DTC materials, and early survey feedback shows that a majority of patients are open to using the virtual prescriber option.
We believe this initiative will encourage consistent prescription switches throughout the year. Extending beyond the usual back to school period and maintaining growth even during traditionally low volume months.
We are also seeing meaningful expansion in reach and adoption. Turning to slide 6.
To date over 18,000 Healthcare Providers, have prescribed Nephi and 85% increase since August of this year with 81% of prescriptions coming from Top decile, 7 through 10 prescribers.
Market share amongst new prescribers is at 10.3 outpacing existing ones with the same call frequency signaling faster. Uptake as new doctors benefit from refined messaging an easier, prescribing experience and growing real world evidence.
These operational improvements, are driving momentum, and scaling, our efforts.
On the pediatric front, our ALK co-promotion has officially extended our reach to approximately 9,000 pediatricians.
Where our market share continues to grow.
In addition approximately 6,500 schools have opted into our nephew and schools program providing access to emergency doses at no cost.
Perhaps most importantly, we're seeing early signs that nephews expanding the overall epinephrine Market, not just taking share.
We're reaching new patient segments as seen on slide 7, amongst patients, prescribed Nephi, approximately 19% were last patients who had stopped filling prescriptions.
And 7% had never filled at all, despite being diagnosed.
These patients who stayed away, primarily due to needle anxiety for device complexity?
In total, about a quarter of patients prescribed Nephi are from these new segments.
As summarized and slide 8 patient satisfaction is remarkably High.
87% of nephew patients report, a positive impact on their daily and social lives. 95% say they are likely to refill the prescription compared to actual refill rates of around, 30% for needle injectors.
The current epinephrine market is valued at $2 billion annually at Nephi's, with a net price growing at 6% to 8% organically, prior to Nephi's entry and branded promotion.
And this year, we've seen year-over-year growth at 9% and year-to-date growth at 8%, as both Nephi captures share and expands the market through improved refill rates, new patient adoption, and higher devices per patient. The opportunity is significant.
And our efforts in the field to increase market, share amongst targeted hcps.
We look forward to driving growth and our commercial infrastructure is optimized to scale sales rapidly through 2026. I'll now turn it over to Kathy to discuss our financials
Thank you, Eric. We continue to maintain a strong financial position while investing significantly in the commercial growth of Nephi.
Looking at our third quarter 2025 financial results on slide 9, starting with revenue, we recorded total revenue of $32.5 million.
As we've discussed, it's important to look at us, net product Revenue separately from collaboration and Supply Revenue.
Our us, net product revenue from for Nephi in Q3 was 31.3 Million, representing a near 2.5 fold increase from the fire quarter.
We recognized 1.1 million in Supply revenue from Partners during the quarter.
We also earned loyalties of 0.1 million from ALK were related to the launch of your nephew in Germany.
In accordance with gaap, these royalties were recorded to the finance and liability on the balance sheet rather than our pnl.
Turning to our operating expenses R&D expenses for the third quarter were 2.8 million primarily related to our ongoing phase 2B or to carry a trial and continued development expenses for Debbie.
Sgna expenses amounted to $74.8 million, reflecting our ongoing investment in our national BPC campaign and sales and marketing efforts.
While sgna spend increased with DTC expansion. These are delivered investors designed to drive durable. Share growth with spend efficiency and improving quarter over quarter.
We remain committed to making substantial investments in Nephi to ensure both short- and long-term market share capture and brand awareness.
Our growth in retention in the third quarter was modestly higher than in the second quarter due to certain channel dynamics.
Looking ahead. We expect gross to net retention to remain in the low to mid, 50% range, even with the reduced, zero dollar, co-pay program.
Net loss for the third quarter of 2025 was $51.2 million, or 52 cents per share.
Lastly as of September 30th 2025 we have cash cash equivalents and short-term Investments of 288.2 million.
In September, we secured a senior secured term loan facility with RA Capital. Our largest shareholders and owners include Sciences, totaling up to $250 million.
We drew an initial $100 million from this facility, which will be used primarily to accelerate Nephi's commercial growth.
The funding will also support our marketing and medical Affairs initiatives to generate and disseminate real world evidence about Nephi's effectiveness.
This financing provides several strategic advantages.
First, there is an attractive cost of capital at 5.5%, with interest-only payments through September 2030.
Zero dilution and terms similar to recent commercial-stage deals, such as Verona Pharma.
Second, it comes from high-quality investors who understand our business and are aligned as long-term partners.
Third it, maximizes our flexibility for commercial initiatives, including DTC campaigns and real world evidence generation.
Our current cash position is expected to be sufficient to achieve cash, flow breaking them, without additional Equity financing while maintaining the resources needed to fully capitalize on the US. Commercial opportunity for Nephi and benefit from. The continued, us growth and expanding International Revenue
With that, I'll pass the call back to Rich.
Thanks Kathy. As we look ahead, we remain laser focused on our key priorities.
First is stating an accelerating nephew US market share growth through the fourth quarter and into 2026.
Second enabling Nephi Global expansion through launches in multiple geographies across our partner Network.
And finally, advancing our clinical stage ear to carry a program towards a potential label expansion.
Our momentum continues to build across every dimension of our business and we are confident in our path towards long-term growth and profitability.
Most importantly, we're executing our mission of transforming how severe allergic reactions are managed and fundamentally impacting the lives of patients, families, and caregivers.
Thank you for your continued support. Operator, please open the line for questions.
Thank you. We'll now begin the Q&A session.
If you'd like to ask a question, please press star 1, 1 on your telephone and wait for your name to be announced to withdraw your question. Please. Press star 1 1 again.
Please stand by while we compile the Q&A roster.
Our first question comes from Lachlan henbury brown with William Blair.
Hey guys, thanks for the question, and congrats on the, uh, the quarter, I guess. Yeah, first question is maybe just I know there would be some high expectations in Q3 and would be curious to hear how these results sort of stack up to your internal expectations heading into the quarter.
Hello.
Rich and team can you please come off mute?
Please remain on the line.
We apologize for the technical difficulties, uh, like when you were back on, please restate your question.
Uh, also in Tech. I saw the the first question was just, um, yeah. I know there was some high expectations heading into Q3 with the, the back to school season. So I was curious to hear how this performance sort of stacked up to your own internal expectations. Um, yeah,
Yeah. Lachlan, um, this is Richard lowenthal. So I I think the the performance we've reported um obviously it was better than analysts. Expectations. And um we met met our expectations. I mean, we we we've spoken a little bit about the difficulties over the summer and doctors burden.
And why we are shifting a lot of our attention towards um our get nephew on us program.
Uh, which uh, Physicians right now are are giving us feedback that they're very, very positive about this approach.
Um, so we we obviously would have liked to have seen a, a better performance over this summer, but I think it it met our expectations and I think we we learned, um, and adjusted very quickly to, um, avoid the issue of the Dr. Burden, uh, problem that we, we experienced
And prescribers overall has been strong in Q3 and throughout the summer. Um, as I mentioned also you know what we're seeing with that group of doctors too, I think just really focused messaging, you know, the real world data and then some of the programs that we put in place
Is a higher share. So that's for encouraging. And then you know the increase that
The consumer awareness with our DTC campaign continued to grow through the summer months.
Yeah, so maybe maybe on that point about the higher share in the in the newer prescribers is that is that a higher share at a certain time after riding their first script or just an overall higher share among them than the original prescribers. And if so, maybe why are the initiatives that are getting higher share in the new prescribers? Not driving further, share growth in the prior prescribers of the same rate.
Which I can take. Do you want to take that 1? No, no. You you can take it. I I think as I I I mentioned, you know, the the focus on kind of a you know, tighter messaging in terms of the unmet need. Um and not only the attributes of needle-free but the totality of what Nephi offers uh continues to drive adoption and writing, I think as rich said, you know, the volume of overall patients and kind of our core. Um went up quite a bit in in the summer and that's 1 of the reasons why again the nephew does
Program was designed to really help the offices and help the patients. I mean, if you look at our allergists for example, our top top, you know, 4,000 I mean the share is higher than the average. So I think we're we're seeing that kind of across the board where we have, good Focus, you know reaching frequency a tighter message, uh really focused Market access messaging too. Um our sales team is able to kind of see within a doctor's um
Patient base. The specifics around where Nephi is covered with a pa. Um, and then really kind of sharing and educating those best practices. Uh has really kind of helped us um with adoption that we see kind of, you know, with those positions that I mentioned
Yeah, and, uh, let me just correct one thing, because I think what you stated is not really, um, the correct perception.
Um the the the doctors that are prescribing Nephi at the higher tiers um continue to expand their use um their their market share continues to go up.
Um, we also expand the number of prescribers but new, prescribers tend to be trialing, right? So new prescribers tend to be coming in,
They try out nephew with some of their patients, and once they have positive experience and they're, they're comfortable, they start then expanding. So, while we're seeing a good growth of new prescribers,
um, those prescribers are not adding a lot to our market share.
But I, I don't want you to think that, that existing prescribers are are decreasing. They're actually increasing. So, we look at our existing prescribers. They are increasing in market, share. And the only reason that market share kind of took a dip over the summer is because the volume gets so large.
And a large percentage of that volume is renewal prescriptions which are virtual, so they're not even going to see the doctor. So if we if we could look at just prescriptions
That were at a doctor's office. I think we would have had a much higher market share of those prescriptions, um, but you have a lot of renewal virtual renewals going on, um, before school starts. And that way, we'll take the advantage of next year. But this year, obviously we don't have renewals of nephew yet, um, on an annual basis. So, starting next year, we'll start to see the benefit of that virtual prescribing.
All right, thanks maybe. Final 1 for me the the the institutional sales, the point you made was was an interesting 1. Can you just elaborate on maybe how much how much volume went through that channel? What the economics? All I can be that opportunity is you know, what you're doing to to capture that beyond the traditional retail setting.
Yeah, we're not going to elaborate on that today because um, it's it's inconsistent obviously, um, and we are just starting up formal marketing efforts in that area. So we are now shifting, some of our attention to Market directly to institutional buyers and also to um provide both discounts and other incentives to them to uh start boosting those sales um going forward. So it's not consistent enough yet for us to give you any kind of guidance vaan. So we'd rather not um, you know, give too much detail on that at this point.
No makes sense. Thanks for the question.
Our next question comes from Josh Skimmer with Caner.
Thanks for taking the questions. Apologies if I missed this in the prepared remarks, but what percent of covered lives now require some form of prior authorization? What trends are you seeing there? And then for the online prescribing option, what is being done to raise awareness among patients that this is available to them? Thanks.
Yeah, so I'll, I'll take the latter part. And then let Eric answer the part about the prior authorization and percent of prior authorization, um, I think I think we are, um, advertising already. So we started to incorporate the new program into our DTC. Um, you also shortly see, um, new TV commercials which use the same theme, so same background same theme, but different voiceover and Banners in order to make it very clear to customers that we now have this virtual prescriber option. Um, that we're, it's no cost to the, to the, to the patient or caregiver, um, and again, with commercial insurance at zero co-pay. Um, so I think that is rolling out, I mean, I think virtual ads are already updated. Um, and then also we we sent out obviously a an email blast to all of our um everybody on our email list that has been on nephew.com.
And also uh several of the large advocacy groups have um, have put this out on their um, email lists. Uh, that ARS is. Now got the promotion going and is paying for a virtual prescriber. If they want to skip the hassle of a physician visit and also that they can get a zero co-pay now.
And and they can get multiple packs with zero cost. So it's more than just 1 box, it's multiple boxes. They can get um, whatever their insurer will tolerate. Um, and and just so, you know, on that front um almost all insurers will tolerate 2 boxes in 1 prescription. Some will accept 3 um 2 packs in 1 prescription. So we are um defaulting to 2 2. Um, 2 packs in the uh virtual prescriber uh prescription
Uh, Eric. You want to talk about Pas? Yeah. Um, good morning Josh, thanks for the questions. Um, overall when you look at the, uh, PA required, and this is through kind of commercial, uh, Medicaid and Medicare, it's about 50%. So that number has come down, um, as we've also shared to specifically with and Commercial, uh, about 57% of, of, uh, prescriptions patients. Don't require a PA
Okay, thank you.
Our next question comes from roanna Ruiz with Ling partners.
Hey, good morning everyone. Uh so a couple for me. Could you talk about the inventory levels for nephew in the quarter and how we should think about it exiting for 4 q? And secondly I also noticed you talked a bit about iqvia being a bit off in tracking Nephi prescriptions. Uh could you give us a little more detail about what portion of the scripts are flowing through iqvia versus blinker X and other channels?
Yeah, we let me speak to that first, and then Eric can add on to it. I think the inventory levels that the distributors are maintaining tend to be between 15 and 20 days.
Um, it fluctuates, obviously from week to week and period to period, um, they did they do build inventory for a peak periods.
And then, uh, what, what it would be normal is that they're going to reduce down their inventory as the market drops in fourth quarter. Um, so as we said, that's part of the reason why we expect that the overall sales and fourth quarter. Although we believe we'll do very well. We'll, we'll come down from the third quarter. Um, and part of that is driven by inventory adjustments as well. So that Dynamic is is pretty fairly normal. But again, this is a, a product with some seasonality to it.
And the Distributors are well aware of that. So they do adjust their inventory according to that seasonality, but they try they seem to be trying to maintain their inventory between 15 and 20 days on hand. Um, and Eric, do you want to speak uh, to the other part of that?
Yeah, I think, uh, Rona. Good morning, thanks for the questions. Um, when you look at kind of the distribution of the prescriptions being filled, it's slightly higher kind of on the retail side. Um, I think as we kind of transition more where uh, had higher, you know, coverage and so forth. Doctors started. Sending patients directly to kind of a the local pharmacies. Um,
About 50, you know, 5% to 45%. But as as Rich mentioned and we mentioned, um, you know, some of the inaccuracies of, you know, capturing rates and some of the other channels that, you know, were selling medication to uh is not necessarily tracked in in the iqb data overall.
Yeah. And and it it's very inconsistent ra. So we we, we
You know, we can see that from week to week, or period to period, it's not very consistent. What IQ is capturing.
From Andreas: Are you rightists with Oppenheimer?
Hey, good morning guys. Uh thanks for taking our questions, congrats on the solid quarter here. Um
A couple from us. Uh, there was a previous question around Prior authorizations, um, you know, maybe you know, what are some of the the, the gating factors and and, and um, in in reaching unrestricted access, what are your timelines? Um, uh, to add, let's say CVS care market and and and Etc, you know bigger formularies in 26 and how do you anticipate those um improvements uh contributing to growth next year? And then I got a 1 or 2 uh follow ups.
Yeah. Um, so Andreas, I'll, I'll start out with that an answer on that. So, uh, we we continue to work obviously, um, with, uh, zinc and karemark CVS. Um,
we we do have some new proposal in with them.
Um, so we're very optimistic. Uh, what the timing of that we cannot be sure of right now.
Uh we believe that it will be in the first half of next year that they will put it on formulary with uh preferred status. But we're also working with them to possibly remove the PA requirement even as non-preferred sooner than that.
But we can't really promise because CVS is is, you know, not consistent in their behavior. And we know that in the past when we had an agreement with zinc, um CVS did not follow through with that.
So we are working with them. They seem to be working um with us and zinc. Certainly is very, very positive. Uh but we have to just wait until we get through that. Uh, but we do have a new proposal and with them. And we are talking uh, fairly regularly with um, zinc and CVS, uh, groups, um, the on the other side, we also are working with Prime and other Blue Cross companies, that's the other piece that we're focused on um and we are making progress in that regard as well. Um and also with Anthem which is uh kind of follows uh care Mark but but is independent of care mark.
What what do you think? I mean uh so what do you think some of the uh considerations um that these payers, you know, look at when they decide to you know make their decisions. What are some of the the data points um that you guys are are bringing to their attention?
Yeah, well they, they see the market growth. I think they they understand the medical value at least most most companies understand the medical value of nephew. Um, and I think it's just a matter of and it's a little different for different companies. I think it's, you know, with CVS, there's a little bit different Focus, um, on on the revenue that they would generate. Um, for the Blue Cross companies, I think it's just managing their premiums and managing their costs.
So they tend to be delaying um, coverage for that reason even if they recognize the medical value. Um, and then there's a handful of companies that are just, um, not covering for for other reasons, um, but it tends to be just managing their costs and we need to work through that with them.
Okay, great. And I know you guys aren't necessarily giving guidance here but just give them the strong momentum in in Q3. Um, how are you thinking about Q4 sales and then, you know, uh uh growth of growth into next year? Thanks. Yeah. As as we said, I mean, you know, Q4 will probably be less than Q3. And I think that's anticipated to some
Certainly, this will also add to the momentum at that point.
Okay, great. Thanks for taking my questions. Congrats on the quarter again. Thanks. All right, great. Nice to talk to you.
Our next question comes from Kevin Holder with Roth Capital Partners.
Good morning. Uh, thanks for taking our questions. Um, first 1 for me, uh, you know, I think I know you launched, uh, in the UK with ALK, um, a few weeks ago, you know, just some commentary on the adoption. Um, there and is it tracking more towards, you know, the
Growth trajectory in Germany or closer to the growth trajectory in the US. Uh, I know a little bit early stages there, but just some commentary will be, uh, helpful. Thank you.
Yes. Um, so so yeah, it's it's a little early to say it's a little early to say, but what I can tell you is that I think the UK Physicians and patients caregivers are very excited about Nephi.
Um, I think we expect a very good performance, and again, they have a more seamless reimbursement process than the U.S.
Um, so we we know that they they, you know, get fairly well covered, uh, very quickly or they are already being well covered. Uh, so we do expect adoption. I would expect at least at this stage, again, too early to be sure, but I would expect adoption to be more like, Germany, um, more because of the the very rapid access that they get in those countries.
Thank you. That's a very helpful and then just 1 last 1 for me. Um I think in the in the side deck uh you show that you're targeting 9,000 period nutritions with the alch Us sales force. Um kind of what is your progress there thus far and you know penetrating that market
So Eric you want to speak to that? Uh yes hey good morning. Um yeah we're seeing a nice uh increase through the summer months when that team went into the field of uh share. So we we tracked a couple things in terms of you know overall volume new prescribers and that is progressing. Um, nicely. Obviously, we want to kind of see that continue growing um you know, at a pace here in the in Q4 as well but we're uh pleased to get to know overall about 20,000 Physicians. So we're hitting all of those. Those big um allergies the decile, 8 through 10. But then we've been able to expand to about another 9,000 uh pediatricians that also see uh patience uh that need epinephrine.
Great, thank you very much and congrats on the quarter.
Our next question comes from Ryan Dashner with Raymond James.
Uh, hi. This is Anthony on for Ryan. Um uh thank you for taking our question and congrats on the quarter.
So we wanted to know how are you thinking about the impact of the virtual prescriber program over the next several months? And which patient demographics do you think will have the biggest impact from this program?
Yeah, I I'll start out in Eric and add to what I say. Um, um, we, we are very excited about this program. Uh, we've had a virtual prescriber option on our website, but it wasn't.
Very well. Utilized only because of the fee and because of, um, us not promoting it, right? We were not advertising it. Um, again, feedback I got I was just at the American College of asthma. Allergy and Immunology. Is it? The doctors are actually looking at this as a really positive thing.
I mean, doctors allergists, especially are are exceptionally busy. Um, they're under a lot of pressure to see as many patients as they can, and the time it takes to counsel patients on a new drug.
Um, and and switch them, um, takes up a lot of their time. So the by, by introducing this program, not only to the patients and caregivers but to the doctors
The doctors are coming back with a very positive attitude towards it, that they can actually talk to their patient and then switch them.
Over to get nephew.com.
And we would take care of the rest. We would take care of the prescription, a PA if necessary, training, everything for the patient. So that burden is removed from the doctor.
On top of that, patients and caregivers will now have the opportunity to get Nephi without a waiting time. Typically, the waiting time to see an allergist is 3 to 6 months.
Changed their mind or don't want to go to the doctor, um, cancel the appointment for other various reasons like reasons. So, so we, we expected to have some meaningful impact. I mean, how much impact we can't tell you. Um, but I think the, the positive response of the doctors were getting, um, has been very reassuring because they see it as a way for them to switch their patients without having to take up too much of their time. And I think that's an important important aspect in today's world when they're under pressure to see. Just 1 more patient each day.
I heard you want to add anything? Yeah I need a couple points to to build on what Rich mentioned. Um as rich said we were just at the college conference and even before the conference started we did a uh Advisory board with about 12 Physicians, 1 of the things that we went through, is this program and the response was very positive. So we will see how obviously we're watching it really closely. And as we mentioned earlier to making sure, we're promoting this through our DTC uh efforts as well. And then we've also done um, market research specifically, with caregivers parents and patients. And as Rich mentioned, they see this as Time Savings, um, making the product really easy to get, um, you know, the ease of use the cost aspect of, you know, not having to pay, uh, you know, lower co-pay, and then just over the the product overall, I mean, when you start thinking about,
The unmet need and uh the patients kind of see this again, needle-free the uh temperature excursions the Simplicity ease of use the feedback that we're getting again from across patients and and parents about this, uh program has been positive.
All right. Thank you very much.
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