Axsome Therapeutics, Inc. (NASDAQ:AXSM) Q2 2023 Earnings Call Transcript

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Mark Jacobson: Yes. And as it relates to Sunosi GTN, it did improve slightly from Q1, typically due to the seasonality impact for Q2, we were in the low 50s for GTN. And I believe you asked also on inventory, as I stated on the previous question, inventory remains for Sunosi around that two-week level in general.

Unidentified Analyst: Got it. That’s very helpful. Thank you.

Operator: Thank you. Next question is coming from Joseph Thome from TD Cowen. Your line is now live.

Joseph Thome: Hi, there. Good morning. Thank you for taking my questions. Maybe the first one. I think you mentioned a little over 40% of the target writers were – have already written AM prescription for Auvelity. Maybe great to see the progress, the remaining that had not written maybe why are they waiting? Is it really just the lack of kind of in-person touch points? Or is there something else that maybe this new sales force can emphasize with the product profile? And then maybe second, is essentially everyone that wants the drug getting the drug, where do we say what kind of prior authorizations and should that ease over the next couple of quarters? Thank you.

Lori Englebert: Yes. Hi Joseph. Thanks for the question. So I’ll comment when a launch happens, what you typically see is that you have some very early adopters. And those early adopters will write coming to Auvelity are usually our most informed physicians. Given that Auvelity has a novel mechanism of action, those writers who have it written, it certainly isn’t due to lack of touch. It is what it is you’re now moving into a different physician type. They’re typically call it as followers or they wait and see how the early adopters use the product, and then they start to adopt. That can be achieved through a lot of different means, that either field force, that’s peer-to-peer speaker programs, which we are investing pretty heavily in for media.

So they are being touched. Now we’re just – we’re working through and into that natural phase of a launch where you have to educate the fast followers or the followers that come after your very early adopters. And obviously, as we continue to add HCP, that’s more than 1,000 new writers per month, we are seeing that adoption happen in that group as well. In terms of pages that what the product, we do have a very robust patient support services program, including savings cards, samples, NPA support for physicians’ offices. So, we feel very confident that patients who want the product can get the product.

Joseph Thome: Perfect. And then maybe one quick follow-up. I guess, what are you seeing in terms of response rate based on prior line of therapy? Obviously, we saw the open-label data and present on responsive patients in TRD patients, but you did have that Phase 3 that didn’t meet the mark in the TRD patient population. Are you seeing strong responses in TRD patients? Or is there an ideal place to focus? Thank you.

Herriot Tabuteau: Yes. So we look at this pretty closely. In other words, we studied the product in patients with various lines of treatment. So of course, the entire spectrum from treatment-naive patients to patients with who meet the criteria for TRD. And what we saw and we announced this in the past, is that the product performs equally well. So you’re seeing just as strong responses in patients with or naive we receive one line of treatment, and then we receive multiple lines of treatment. So that’s really encouraging. As a reminder, is open-label data, what we saw the response rate was into the 80% plus range in terms of patients who are responding.

Joseph Thome: Great. Thank you.

Operator: Your next question is coming from Matt Kaplan from Ladenburg Thalmann. Your line is now live.

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