UroGen Pharma Ltd. (NASDAQ:URGN) Q4 2022 Earnings Call Transcript

Operator: And thank you. And one moment for our next question. And our next question comes from Matt Kaplan from Ladenburg Thalmann. Your line is now open.

Matt Kaplan: Hi, good morning. And thanks for taking the questions. Just to want to dig in a little bit more to JELMYTO and your revenue guidance and specifically potentially returning to more accelerated growth of JELMYTO. Can you talk a little bit about the current use and adoption of the nephrostomy tube in terms of administration of JELMYTO, and what are your thoughts kind of going forward in terms of that helping to drive growth further?

Liz Barrett: Jeff?

Jeff Bova: Sure. Hi Matt. Thank you for the question. It continues to go up. You listen every quarter, it goes up a certain percentage of 5% or 10%. I think with the Dr. Rose paper, you’re going to see a bump in physicians that maybe have been a little reluctant if they just really wanted more data. Now 32 patients, you have a similar if not better CR and then you have most importantly is a reduction in stenosis. I don’t ever €“ I can say for a fact, it will never be 100% of the installations. Sometimes patients don’t really want the catheter in their back for six weeks. So there will always going to be a subset of retrograde installations. But I do see it continuing in the next few quarters because of the Rose data, 5% or 10% every quarter and the convenience to patients, as physicians experience being able to give this in the clinic, what we see is usually their first attempt at antegrade leads to future attempts at antegrade.

So as they identify patients they no longer give it in a retrograde fashion. They’ve moved their administration to strictly antegrade.

Matt Kaplan: Great. And then a follow up with respect to the impact on the stability period, when do you think you’ll €“ obviously it’s early in a label change, but when do you think you’ll see kind of a full impact on improving adoption in driving growth?

Don Kim: I think Q2, we’ve already seen it go from 20% to 50% in a short period of time, a day before installations. I think you’re going to €“ can see that continue to increase. Look, some physicians still don’t need it the day, the day before, just depending on when they want to do the procedure. But I think what it does is if 50% or the day before, it’s freeing up, as Liz alluded to earlier that time of the representative. And so you’ll start to see more demand driven activities from the representative versus really ensuring that operationally the dose arrives. So as our independent pharmacies and our partner pharmacy, the mixer that we currently use, adopt and get used to mixing later in the day and delivering it later that’ll continue to become more efficient.

And we’ll follow the guidance of the practice. If they were required it the day before, we’ll continue to evolve there. So Q2, Q3 would be the impact and then from there on forward, in the end it frees up more time for the representative. And as we deliver the dose the day before.

Liz Barrett: And Matt €“ sorry Matt, I was just going to comment to your question around the growth, I mean, I think what we have said, and I think what we continue to see is slow steady growth. So unlike, will there be a time where you’ll see a hockey stick inflection point? We don’t think so. We think that it will continue to grow. We are seeing that, we’re seeing more stability, more consistency, and you’ll continue to see that. And I think that is reflected in our guidance for the year. But, we’re happy about that. It’s good to see that consistent growth but I don’t €“ we don’t think that even given the great data that we have, we think we’ll continue to get more and more physicians. And we’ve been adding physicians every quarter.