conference call.......
"sustainable sales growth"
"continuing positive earnings for the foreseeable future"
"began enrolling patients in our Adcon-P pivotal trial"
"continue to make excellent progress in our drug development projects"
"total revenues increased almost 6-fold"
"excellent margins once again" (will be able to maintain anywhere between low to mid 80s)
"on target to meet our sales growth for the year" (mid 30s)
"strong base for continued expansion in the future"
reorder rate of approximately 90%, receiving positive feedback from first-hand use by surgeon
enrollment completed for -P by end of '99
cognition modulation..... "perceptin"?? Is that what they said? GT 2331 now has a trade name? Discussion with potential partners continues.
Inflammation.... progressing towards selecting a lead Janssen compound in the next few months.
Humanization of anti-properdin MAb next step, believe this project could progress rapidly to clinic.
April special issue of Neurological Research will be great marketing tool.
In excess of 2500 surgeons using -L, have not encountered resistance to pricing
Hey, Harry (Dr. Tracy)! Good to hear you digging into the questioning.
re. H3 receptors.... "involved in discussions with potential partners.... but, have budgeted a phase IIa-like study in, say, ADHD...... if we find a partner before then, we'll let the partner define a clinical pathway, but...... if we take it further on our own, we're prepared to go through a phase IIa study in ADHD". (paraphrased, but damn close)
Japan (Chugai) -L ongoing, optimistic for approval this year.
Retrospective economic information, reoperations and drugs and therapies, in-hand to go to payers re. reimbursement for -L. See Neurological Research.
Adcon-P is about 15% of total operating expenses. Believe it presents a dramatic market oportunity.
$500K in capital costs (sterilizer, clean room) plus $100K in start-up in first quarter for new U.S. mfg facility
Receivables at end of quarter, 3.5 million, inventory 1.3 million
Adcon-T/N U.S. market estimated at 250K patients.... lots of talk about -T/N, BTW. Submission at FDA would be handled by same division that reviewed -L. Hopeful for rapid review and approval. Interesting.
Competition..... Adcon-L, no known competition in sight, and it would take about four years to get into market if anyone does decide to go. Adcon-P..... Intercede and Seprafilm.... -L has advantages to these products (no brainer). Pricing at Genzyme is about $250 per procedure, believe Intercede is same ball park. No mention of second generation -P competitors.
Great conference call. I'll listen to it again if I have time.
Hey, everyone!!...... GT 2331 has a trade name.
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