Trevena, Inc. (NASDAQ:TRVN) Q4 2022 Earnings Call Transcript

Carrie Bourdow : I mean I also think because it’s Cleveland Clinic and Wake Forest, 2 really well-recognized institutions, that carries a lot of weight, right? It’s hard for me to say that another large academic medical center wouldn’t want to try to do a repeat, but at least with some of the major institutions we’re calling on, the community, community teaching, I think this data is going to carry the way.

Brandon Folkes : Congrats on the progress.

Operator: Our next question comes from the line of Douglas Tsao with H.C. Wainwright.

Douglas Tsao : Just curious, as you move into the ASC, I know there’s been some sort of thought that it was perhaps a slightly less attractive market just given the volume of drug use. I’m just curious, how far can the ASC get you with pass-through status as well as the addition of complex studies. I mean can this sort of be a platform that can get you sort of approaching breakeven with OLINVYK?

Carrie Bourdow : Yes, it’s a great question, Doug. Let me start, and if Patty has an additional comment. So as you said, the inpatient is still really where the bulk of the opportunity is for OLINVYK. But in the ASCs, two things are happening. One, the more — those complex patients, that’s really sort of OLINVYK’s sweet spot. They’re starting to move more and more out there. And ASCs are now — it’s not just the volume over a 24-hour period. But the time in which patients are staying in the ASC is growing. So that does make the opportunity a little more attractive for OLINVYK. I would still say, though, that the goal for us is to leverage pass-through, the great data that we have and get the use, get the experience in ambulatory surgery centers so that those physicians bring that experience back into the inpatient setting.

But I’ll tell you, I’m seeing a lot more opportunity on OLINVYK in the ASCs than I did at launch just because of the shifting dynamics and the shifting inpatients. Patty, I mean, you’re out and you’ve been visiting a lot of these top ASCs?

Patty Drake: Yes. Well, I’ve had customers directly saying that why they would love to have this on their hospital formulary that is a very difficult and lengthy process for them where they can get in an ambulatory surgical center, the immediate experience, and it doesn’t take as long for them to get that process going. So that’s exactly what we’re doing is trying to be opportunistic here and follow where the health care trend is going in both more complex surgeries, the length of stay is elongating, so they get even more experience and then they are very interested in that and parlaying that into their hospital setting.

Douglas Tsao : And then just in terms of the length of stay data that you saw, it sounds like you have some signs that the GI was the primary driver. Do you have a sense of whether cognition contributed to the reduction of length of stay as well?

Mark Demitrack : Yes, Doug, let me address that. I want to be clear — the exploration of what accounts for the improvement in length of stay. I believe that the GI tolerability is the circumstantial data that I presented would suggest that it’s playing a role. I wouldn’t necessarily call it the primary driver because if you look at the impact of delirium, while — as I pointed out, the incidence of delirium as declared by the provider in their ICD codes in the record, it’s low. On the other hand, when it occurs, it’s an enormous event. 10.5-day extension of length of stay in — on average in patients who experience an episode of delirium, you don’t need many of those to contribute significantly to a prolonged length of stay.

So trying to get — as mentioning in the answer to Jason, trying to sort of be very specific about the proportion contribution from these different issues to length of stay is kind of — is very hard to do. But I think the circumstantially, the data would argue that these 2 features are certainly playing a role amongst other factors. And again, we’re going to keep looking at this data more closely to help give a little bit more color to what’s behind this.