Agile Therapeutics, Inc. (NASDAQ:AGRX) Q2 2023 Earnings Call Transcript

Oren Livnat: A segue into my next question like you’re looking at my page here, speaking of the incentives of your partners to do a good job, how are the telemedicine channels working out so far? Nurx and others, I think Nurx has been on board for a while in terms of partnership, but I think maybe last quarter, you talked about sort of it just being turned on or being fully trained up and ready to go. How are they doing in terms of I guess you could call it promoting the products, maybe not per se? But when women go into the Nurx channel, how are they doing with regards to offering Twirla as an option for appropriate patients, and are they hitting the targets that they or you had set in that arrangement?

Amy Welsh: Yes, I’ll jump in, Oren. Thank you. All of our telemedicine partners — we’re lucky to have a great partner, Nurx. You’re right. We signed them at the end of last year. And they officially now offer through their distribution channels our patch and their only patch that they send out, and that started in May. They’re growing month-over-month-over-month. It was a bit of a slow start because of some of the structural changes that were happening on their end, but they have now a solid team. And I’m pleased when I look at their growth week-over-week. Again, we’re very lucky to have them as a partner. We just signed on Twentyeight Health, so early days there. But again, we always see growth. I think the best thing about our telemedicine partners is it’s a channel that is meaningful to the women, our age group 18 to 24 year olds, so it’s always going to be available for them.

And branded products, Twirla has kind of broken the ceiling a bit and been one of the first branded products offered on these channels. So the negative about that is we help them set up a process. The positive about that is we stand there alone. But it does take a while sometimes, but we see growth and I’m more than confident in the back half of the year. We’re going to make up any type of slowness, because of some of the training and the process changes that happened in the first part of the year. The upside, a lot of the upside in retail will be due to telemedicine.

Oren Livnat: All right. Bigger picture, Washington activities have been interesting. We’ve seen maybe the third executive order to come out of this administration related to women’s health and specifically coverage or lack of coverage of contraceptives. Al, you’re down there a bunch, I think. What’s going on there in terms of words versus potential enforcement actions that they’ve been hinting at for a while? Do you expect anything to change, especially as we’re heading into an election cycle where women’s healthcare is such an important part of this narrative?

Al Altomari: The answer is yes. I don’t think it was a surprise to us, the symbolism of that executive order being on the Roe v. Wade anniversary. The Biden administration clearly is signaling that women’s health in the broadest sense is important to them. The Roe v. Wade or the abortion discussion on boards is a very complicated discussion. So they see contraception — we believe they see contraception as an important win for women. So that executive order, as you saw, including us, but also including things like TRICARE, which is the military Medicare, I’m sorry, Medicaid. So it probably had a five-point plan. So contraception needed a lot of work. So based on my discussions, we believe that the right thing to do is to clarify once and for all that products like us that were approved but don’t have generic equivalents need to get access to this country.