Evolus, Inc. (NASDAQ:EOLS) Q3 2023 Earnings Call Transcript

Rui Avelar: Thanks, Doug. John Joseph was — Dr. John Joseph, the first 1 to kind of introduce that concept of increasing the concentration and getting a little bit of duration. So there may be a contributor there. The other thing that’s kind of interesting is, a few years ago, BOTOX also demonstrated when they did a double the dose, they actually hyper-concentrated almost at the same level as everyone else. And what they depend on the 20-unit arm, they noticed that even though 20-unit arm look better than the baseline. So the bottom line, what we’re seeing is certainly doubling the dose gives you longer duration. It’s not linear, though. And that’s that comment applies to all the topics that we’ve seen kind of come out. And it looks like concentrating may actually contribute a little bit, but we’ve seen that is by others also.

Douglas Tsao: Do you — is sort of getting it for concentration something that an injector can accomplish themselves if they kind of know the right recipe?

Rui Avelar: That’s exactly right. Today, you have a file or a certain number of units in there, and it’s dry. And then you can control the concentration by adding the diluent into the bile how much you put in and then you can determine the concentration. And if we look at people today who inject it. You take a vial of 100 units of a few different products. You may concentrate it with 1 milliliter, the diluent 2, 2.5 or up to 5 to get a spectrum. So even today, the common practice, you’ll see some people do hyper concentrate a little bit. And then in the context of Jeuveau extra-strength, for instance, that’s right. It would be effectively in the publication. You can get a 100-unit file mean you can reconstitute it as you read about it in the publications and then create your own for unisyperconcentrated in your office.

Operator: Our next question comes from the line of Navann Dietschi with BNP Paribas.

Navann Dietschi: First one, a follow-up on taxis, you have seen an impact at all from the change in pricing strategy since September 1 during and after the quarter. And then I was also curious about whether you have conducted any promotional activities in the quarter. And will you conduct an versus November the next day .

David Moatazedi: Navann, as it relates to the newest competitor to find the market. I think you’ve seen the guidance we gave at the beginning of the year when we were aware of their launch, and we guided to a very healthy performance we since guided up a few times. So I think it gives you a sense for our confidence for how Jeuveau is performing despite the entrance of a new competitor. And of course, this is a competitive market, but we always believe that the bigger market opportunity is around the consumer and targeting this younger generation. I think our focus has been consistent and unwavering over the last several years. What you’re seeing reflected in the results is just that. It has nothing to do with the competitive environment as much as it does our market positioning and how our customers are responding to that and voting for Jeuveau as an increasing share of their practice.

So we feel great about that. As it relates to promotions in the market, in the third quarter, there wasn’t anything particularly unique about the quarter. that was worth noting in the fourth quarter. That is the peak season, the holidays for the injectable category. So you tend to see promotions that occur from all of the competitors. We’re certainly a part of that as well. We have a program that we’ve been doing for consecutive years now called 11 Day, which is currently in market now. And it’s something, as I said, we’ve done each and every year. So it’s been a successful program for us. It evolves in different ways. But in the end, there’s a lot of consumers coming into this market and the 1 day programs designed to capture a larger share of that market segment.