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

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So we believe that that’s coming. I can’t tell you when. I don’t know when. I shouldn’t say. I would tell you if I thought I had a handle on it, because it’s a different pace in Washington than I have. But what I think we’ve tried to communicate here is that that is an upside to our investors. What we created is a sustainable growing model that’s growing in every channel and Amy’s put a stake in, Oren. So we still believe that’s upside to us. We believe it’s coming. We don’t think, Oren, personally I don’t believe enforcement is the answer. Because while there’s three PBMs that control a vast majority of lives in this country, it’s up to every plan under them to administer this thing, so it’s unwielding. You could say it’s PBMs, and that’s true.

But the implementation of the Affordable Care Act has really been the downstream plan. So we think that enforcement is a bit chasing of a tail. We think to get regulations out clearly stating what I just said I think is the ultimate answer. And then we would expect there’s going to be a lot of oversight from the administration, and also the agencies that monitor this. I think that enforcement will be on the back end of this new regs, if you will. So I think it’s coming on. I have high degree of confidence. I don’t want a guide to something I don’t have control over. But I think it’s coming. But in the meantime, you should know we’re just blowing out to third quarter, and that will put more wind in our sails.

Oren Livnat: All right. Well, I think that’s it for me. I appreciate your patience with all the questions.

Operator: All right. As at the moment, I do not see any other questions at this point. I would like to turn the conference back to Al Altomari for closing remarks.

Al Altomari: Great, thank you. So, Oren, thank you for the thoughtful questions. You look like you preempted a couple of the callers, which is great. I guess my final thought is that in a statement I would say the proof is in our progress. We’re not saying this is going to happen. We’re saying this is happening. For the first six months of this year versus the first six months of 2022, you saw on our data that net revenue is up 140%, OpEx on the other hand is down nearly 38%. And as Oren asked me, based on what I’ve seen of the third quarter so far, Amy and I feel great about the momentum is still continuing. We say that time-in and time-out, but come in and have record quarters and every metric that’s important to us. And the momentum that we’re seeing isn’t in any one channel.

It’s in all the channels. Retail continues to grow. Non-retail continues to grow. As Amy mentioned in a question Oren has asked about telemedicine, the momentum theirs is growing. So we’re just layering on in all our channels continued growth, because we’re on a quest to once and for all, first of all, hit our guidance we’ve given you for the year. So hopefully to see why we’re confident in that based on this quarter’s results. And the ultimate prize is [indiscernible] cash off this business. So thank you for your attention. Thank you for following our story. And we appreciate you staying close to us. Thank you, everybody.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.

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