NeurogesX Inc. (NGSX) Q1 2010 Earnings Call Transcript May 11, 2010 4:30 pm ET Executives Carol Ruth – IR, The Ruth Group Tony DiTonno – President & CEO Stephen Ghiglieri – EVP, COO & CFO Analysts Andrew Vaino – ROTH Capital Michael Higgins – Rodman & Renshaw Presentation Operator
Actual results may differ from these discussed here today. The factors that may affect the outcome of forward-looking statements are explained in the risk factors section of our filings with the SEC, including our Form 10-K, which we filed with the SEC on March 19, 2010 and our most recent Form 10-Q for the first quarter 2010 which will be filed with the SEC later this week.Now I would like to turn the call over to Tony DiTonno, Chief Executive Officer of NeurogesX. Tony DiTonno Thanks you, Carol and thank you all for joining us today. Today, we will give you an update on our first quarter 2010 activities and comment on the recent launch of Qutenza. As you know, we are just into the sixth week of launch and so far we are pleased with how things are playing out in the market. Physician interest in Qutenza has been positive. We’re building on this interest to help lay the foundation for long-term sales growth by first gaining physicians commitment to prescribe Qutenza, secondly, training physicians office on how to administer Qutenza, third, educating physician overseas on how to acquire Qutenza and finally, establishing reimbursement for Qutenza as supporting physician and patients reimbursement issues. I will update you shortly on more of these specifics regarding these activities. Later in the call, Steve will talk more about the first quarter financials and quantify some of the metrics we’re using to gauge early adoption of Qutenza. With the launch of Qutenza on April, the 5 th of this year, we believe we have added an important end treatment option for patients suffering from PHN and, of course, for the physicians who treat them. To make this possible, we spent the first quarter of 2010 completing the build out of our commercial infrastructure. We’re very pleased with the talented and season individuals who make up our 40% sales team of representatives and management. This team has in-depth experience selling novel physician administered products and devices and they understand the importance of customer support when it comes to training product acquisition and reimbursement.
One of the metrics early on is to track the number of target physicians that have been reached, meeting, that we have given an initial introduction to Qutenza. During our Investor Day, about 10 days ago, we reported that 845 target physicians had been reached in the first four weeks of our launch. I’m happy to say this number continues to rise and as of last Friday, May, the 7 th our reach had expanded to 1008 physicians. So you can see that we continue to make progress in getting the word out about Qutenza’s availability.The focus of this initial targeting is on the physicians who primarily treat pain; we identified our target doctors to a screening process (inaudible) high number of PHN patients and practice, physician specialty and the number of pain procedures performed. While these data are not perfect, they help identify a target pool of physicians which we then profile with our sales force to refine our targeting. We don’t expect that every physician who writes high volumes of prescriptions for PHN drugs will automatically be a prime candidate for administering Qutenza. Qutenza has the added element of meeting a physician practice that has the space and staff available to administer Qutenza. Pain specialists are initially our primary target because they usually have both the space and the staff required. Read the rest of this transcript for free on seekingalpha.com