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TheStreet Open House

Avanir Pharmaceuticals' CEO Discusses F3Q12 Results - Earnings Call Transcript

Stocks in this article: AVNR

Addressing some of the recent corporate highlights, first in June we announced a valuable new addition to our intellectual property portfolio. US patent number 8227484 entitled pharmaceutical compositions comprising Dextromethorphan and Quinidine for the treatment of neurological disorders.

This new patent claims methods for treating pseudobulbar affect or emotional ability using low dose Quinidine formulations of NEUDEXTA. This patent was issued on July 24, 2012 and was recently added to the FDA Orange Book. This additional patent listed in the Orange Book for NEUDEXTA further strengthens our patent in the States and creates another hurdle for ANDA filers to overcome.

Second, the growth we are delivering in NEUDEXTA sales combined with a strong balance sheet firmly position us for commercial success and delivery of a number of exciting catalysts in our development pipeline. The most recent clinical achievement centered around our early June announcement that the FDA has accepted the company’s investigational new drug application for the study of AVP-923 for the treatment of agitation in patients with Alzheimer’s disease. Joao will provide more details on this exciting initiative later on the call and the progress we continue to make exploring the broader potential of this dual sigma-1 agonist and NMDA receptor antagonist. With that introduction I will now ask Rohan to say a few words. Rohan?

Rohan Palekar

Thanks Keith and hello everybody. It's my pleasure to update you this afternoon on the progress we've been making in our commercial activities. The fundamentals of our commercial business remain strong and all our indicators point towards a successful 2012.

On the prescription side as Keith mentioned we saw strong quarter-over-quarter growth as prescriptions increased by approximately 33% to 26,428. Over the same period, new prescriptions grew by approximately 22% to 11,736. I would like to highlight a couple of key factors driving this growth.

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