This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

DepoMed Management Discusses Q2 2012 Results - Earnings Call Transcript

DepoMed disclaims any obligation to update or revise any forward-looking statement made on this call as a result of new information or future developments.

As a reminder, Depomed's policy is to only provide financial guidance and guidance on corporate goals for the current fiscal year and to provide, update or reconfirm its guidance only by issuing a press release or filing updated guidance with the SEC in a publicly-accessible document or providing or updating guidance on a publicly-accessible conference call or webcast investor presentation.

Financial guidance relating to current cash, cash equivalents and investments is based upon balances as of June 30, 2012. All other guidance, including guidance relating to the company's expected expense levels, is as of today, August 2, 2012.

I'll now turn the call over to Jim Schoeneck.

James A. Schoeneck

Thanks, Augie. And thank, all of you, for joining us on the call today. DepoMed has continued to make substantial progress since our last call. Today, I'll summarize the developments in our business, and then I'll turn the call back over to Augie to discuss our quarterly financial results. After that, we'll open the call to questions.

The launch of Gralise is progressing well with increasing prescriptions in numbers of prescribing physicians. Gralise products sales for the quarter were $3.2 million, and in June, we recorded over 10,000 monthly prescriptions for the first time. In July, we hit an all-time weekly high of 2,739 prescriptions.

To date, more than 6,000 healthcare professionals have written prescriptions for Gralise. And the majority of prescriptions are being written by pain specialists and neurologists. With the addition of our flex representatives and the progress in our managed care contracting, we expect Gralise to grow, and perhaps accelerated growth, in the second half of 2012.

Our 78 flex representatives are now on the field, actively promoting Gralise as of the 1st of July. These pharmaceutically experienced and seasoned salespeople are working hand-in-hand with our existing sales force and provide approximately 60% of the calls of a full-time rap. As a reminder, we believe that adding these flex reps will increase our total physician calls by approximately 30%, and we expect to see their impact during the third and fourth quarter of 2012.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,985.61 +78.99 0.47%
S&P 500 1,972.83 +9.12 0.46%
NASDAQ 4,419.0340 +27.5710 0.63%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs