Agile Therapeutics, Inc. (NASDAQ:AGRX) Q4 2022 Earnings Call Transcript

Amy Welsh: Yes. Yes, contractually, we don’t expect any changes there from our pricing, 340B pricing. That should be locked, so you shouldn’t see any surprises. And one thing that, when you were asking a question, Oren, that made me think about that I wanted to share is we’re also seeing a positive effect on the retail through these gains in California. I think that Al, on a couple of these calls, had explained that these physicians who work in a Planned Parenthood very often work in the community as well. So we’re starting to see a very positive effect on the non-retail account wins in California coming over into the retail side, too. So €“ but yes, to answer your question, no, we’re going to be consistent on the pricing.

Al Altomari: I’ll give a big picture answer. But Oren, maybe Jason can comment if I get it wrong. The mix in our third and fourth quarter hasn’t changed much. So the barge almost rose. So our average yield per cycle is pretty consistent, right, quarter-over-quarter?

Jason Butch: Yes, that’s exactly right. So like Al mentioned, Q3, Q4 is consistent. And from a forecasting perspective looking into €˜23, I’m seeing a point or 2 maybe increase in the discounting across the board. So the mix does remain relatively consistent in and throughout €˜23.

Al Altomari: So our gross to net is maybe €“ I think it’s stabilizing. I don’t know, for lack of better words, Jason anticipates it going up a little. But I think €“ as I said, we’ve had the big shift in the third quarter. Fourth quarter was about the same. We’re saying going forward, it looks pretty steady. Now if Amy is widely successful in retail, which we hope, that might change it for the good. And if the mix changes more into the other side, we will take a little bit of a haircut. But all volume is good to us. We like volume.

Oren Livnat: Yes. So, speaking of retail, that’s growing pretty nicely. I mean I have IQVIA, and that’s in the 50%, 60% year-over-year growth. I think Symphony is even better. How much effect of Nurx are we already seeing in the current volume, or is that really almost all upside in terms of inflection or trajectory in 2023?

Amy Welsh: Yes. It’s going to be €“ we have not seen much at all. What we have been doing with our partner Nurx over the last quarter has been really just making sure that all of our tools will work with them, I think from our co-pay card to websites and co-promotion and just getting everyone up to speed to make sure that when they are ready to go full bore and completely convert to Twirla, that they are set up systematically and the patients will be able to get it seamlessly. I think you are going to see impact of Nurx in the back half of the year, hopefully as early as Q2, but confidently in Q3.

Oren Livnat: Okay. And can you just remind us, that €“ you are going to be the exclusive patch, right? So, are they just going to €“ I guess similar to Planned Parenthood that have adopted your product, are they just going to exhaust whatever, I guess, Xulane or generic supply they have and then go wholly into Twirla prescribing?