Fennec Pharmaceuticals Inc. (NASDAQ:FENC) Q3 2023 Earnings Call Transcript

Naureen Quibria: Okay. And you did mention in the prepared remarks that you’ve added some folks in the sales force. So, how many are you up to now? And is there a different focus for these newer individuals, or if you could just help clarify that a little bit?

Rosty Raykov: Yeah. So, we are — we’ve kept the sales force consistent. We are — we have 12 salespeople in the field right now based on the territories that we’ve discussed in some of our earlier calls to target this 80% of cisplatin use. And yes, the focus, as you can imagine, there is also some natural turnover in the sales force team, and we were able to — we’re looking now to pick up some really talented individuals that sold in the community center and can really expand the push for — to use the NCCN guidelines for AYA for the use of PEDMARK in this population. So, we think just the timing worked out very well.

Naureen Quibria: Okay.

Adrian Haigh: And if I could just add there, I think there are three key things you need to have — or four, actually. First of all, the NCCN guidelines with the Category 2A. Secondly, you need to have the agreements in place, an endorsement from the GPO organizations. You need a specialty pharmacy that can supply direct to the community, direct to the hospitals, direct to the patients’ home. And then, you need an experienced sales force that is used to selling in this environment. And we now have all of that in place. So, a major focus now is the AYA population in addition to chipping away at the pediatric oncology centers.

Naureen Quibria: Terrific. So, just one more from me. You did, Adrian, mention in your prepared remarks about partnering with spec pharma and the home admin angle, administration angle. What percentage of that is that part of the market, just out of curiosity?

Adrian Haigh: Well, if you look at the pediatric oncology centers, which accounts for 3,500 patients, then I think the majority of those, right now, the younger ones are treated in the specialist oncology centers. But all the older patients are either treated infusion centers or at home or in community hospitals. And as I said, there’s probably around 30,000 in total there. So, I think the opportunity, the real opportunity, lies in — with the AYA population where we’ve got NCCN endorsement, we’ve got reimbursement because it’s a 2A, and it’s financially attractive. And also bear in mind that these patients are obviously older and heavier, so they’re going to use more vials.

Naureen Quibria: Right. Okay. Thank you. That’s helpful…

Rosty Raykov: And just to add one more, the ability for us to provide vials into the home setting of a patient, we — up to this point, we did not have this capability, and we’re having this capability now. So that’s certainly very encouraging in addition to the skill set required to sell into the community oncology, as Adrian mentioned earlier. So, we have the full suite of products and the sales force to execute on this plan.

Adrian Haigh: And that has been in place since the middle of October, all of these things. So, we think we’ve got everything in place now.

Naureen Quibria: Great. Thank you. That’s all for me.

Operator: One moment for our next question. Our next question comes from Charles Duncan with Cantor Fitzgerald. Your line is open.

Charles Duncan: Hey, good morning, Rosty and team. Congrats on a good quarter, and thanks for taking our questions. I had just a couple of them. First of all, if you fast forward a year from now, would you anticipate the majority of your vial use to come from pediatric younger patients, call it, centers for excellence — treated in centers for excellence, or would it be perhaps more from the AYA patient population, given that they’re generally larger folks, et cetera? And so, what is the goal over the course of the next 12 months beyond just, call it, revenue that you would like to achieve? Thanks.