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| Statement |
|---|
| MINOLIRA continues to outperform the declining minocycline market for acne, strong growth of 19% in total prescriptions and 18% growth in new prescriptions versus Q1 of 2022 |
| Also, we have a strong writer base of RHOFADE, WYNZORA and MINOLIRA, and we feel confident that, that writer base will remain strong and then and continue to move forward and grow those products even with the launch |
| Our entire team remains excited about our progress, our momentum, and what lies ahead |
| I'm pleased to report our promoted products delivered strong prescription growth compared to Q1 2022 |
| Our NDA is based on a Phase 3 program that demonstrated clinical evidence of efficacy with robust clinical data from our B-SIMPLE4 trial and a favorable safety profile for patients with molluscum |
| Rhofade is a great product and we fully expect to be able to use our life cycle management for that product and others in our current portfolio to provide value to shareholders |
| And we feel like with WYNZORA that meets all patient needs from that spectrum and the increased competition and awareness is good for the marketplace |
| This is the fifth consecutive quarter of strong commercial team execution delivering growth across our promoted product portfolio as compared to prior periods |
| Overall, we're excited, with the total prescription growth performance including new and total prescribers for our promoted brands |
| This issue was quickly resolved and distribution channels restocked and solid demand and pull-through in mid-April |
| And as we evolve and grow the opportunity to expand that to patients and also caregivers of patients is a fantastic opportunity |
| We also believe this will help not only in the dermatology market where we have a strong foothold and good relationships, but it will help us our initial launch into pediatrics and as we grow to evolve further down that road, so absolutely |
| And Novan remains focused on executing and delivering results, and we're excited for our future |
| So those initiatives from a marketing perspective, why we tried to ensure we're being fiduciary responsible to the shareholders has been received very well in Q1, and you can see that in the prescription group |
| And we've also continued the momentum and strong growth on RHOFADE with all-time highs in new prescriptions |
| As such, this is a positive trend in a very competitive market |
| This represents the most significant milestone Novan has achieved to-date and something of which we are extremely proud |
| We believe it's been great for the market itself |
| Complementing our strong total prescription growth, compared to Q1 2022, we have also experienced a significant increase in underlying demand in new prescriptions for both RHOFADE and MINOLIRA and increased ACP rider activity for WYNZORA |
| In conclusion, we believe the opportunity for berdazimer gel is compelling |
| So, obviously, we're paying higher rebates, but we'll see better coverage and lower co-pay card costs |
| For the quarter, we continued to grow our prescribing base and market share for our core promoted products |
| We've also begun implementing working closely with our pharmacy -- network pharmacy partners in order to have better data and metrics as we mentioned in the second half of the year and that's continued into Q1 |
| And again, I think it's been great |
| We remain focused on executing and delivering results, and we're excited for our future |
| We still saw a strong prescriber base as compared to Q4 and so it was more driven just by the market itself for the quarter |
| The other benefit obviously is that we acquired a great sales team, infrastructure, leadership management and the products |
| We feel like moving to a preferred position definitely puts RHOFADE to this particular life cycle in a great position, and the pull-through will continue as we go through the year |
| So yes, so we're pleased with it |
| As you see here, very -- there's a very high potential, very high adoption rates are expected within 12 months of approval across the three primary HCP types who are seeing molluscum patients today |
| Statement |
|---|
| Q1 RHOFADE total prescription volume of 40,149 was less than 100 prescriptions short of an all-time high set in Q4 2022 |
| In regards to MinoLira, if you know we look at the overall market dropped about 14% |
| As noted in previous calls, WYNZORA was impacted in the second half of 2022, by new competitive launches that have challenged the use of topical steroids in the U.S |
| This temporary stock-out of RHOFADE impacted the overall net product revenue during the first quarter of 2023, as there was a 28% decrease in the number of units sold in Q1 2023 from Q1 2022 |
| We believe the lack of at-home options results in many undiagnosed cases |
| We have seen some improvement, but we do believe that the first quarter seasonality with the higher deductible plans reset and also seen a shift to higher deductible plans has muddied that picture a little bit for Q1 |
| Per US claims data, over 70% of patients with molluscum go untreated |
| I think the challenge will be addressing some of these gross to net components |
| And we declined about 1.5% if you will |
| On MinoLira it looked like sales took a hit as well looking at 4Q to 1Q |
| So related to your question, we did talk a little bit about in the prepared remarks about the decline in units sold |
| We did not see that in Q1 as much as we expected, and we think a lot of that is due just to the shift in high deductibles and also with the reset plans |
| Just on the API business, I understand, it's been a little volatile for different reasons the last few quarters |
| We experienced a supply disruption in March for RHOFADE |
| So a lot of it was a timing issue |
| Consolidated net loss was $14.1 million for the three months ended March 31, 2023, compared to $13.4 million for the prior year comparable period |
| We did have an issue with the consoles name |
| And I know you're not giving guidance for 2Q or beyond |
| Molluscum is highly contagious |
| But as it relates to total units sold you see that recovering |
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