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G1 Therapeutics, Inc.
11/3/2021
Good day and thank you for standing by. Welcome to the G1 Therapeutics 3rd Quarter 2021 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. If you require assistance during the conference, please press star 0. I would now like to turn the conference over to your speaker today, Will Roberts. Thank you. Please go ahead.
Thank you, Gail. Good morning, everyone, and welcome to the G1 conference call to discuss our third quarter 2021 financial results and business update. The press release on these financial results was issued this morning and can be found in the news section of our corporate website, g1therapeutics.com. On this morning's call, the team will provide a business overview of the third quarter of 2021, including an update on our commercial progress in that period with COSELLA, which was approved by the U.S. Food and Drug Administration on February 12, 2021, to decrease the incidence of chemotherapy-induced myelosuppression in adult patients when administered prior to a platinum and toposide-containing regimen or topotecan-containing regimen for extensive stage small cell lung cancer, or ES-SCLC. and which became available on the channel in early March of 2021. A Q&A session will follow these prepared remarks. Before we begin, I'd like to remind you that today's webcast contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements represent management's judgment as of today and may involve risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by these statements. For more information on such risk and uncertainties, please refer to our filings with the Securities and Exchange Commission, which are available from the SEC or on our corporate website. Any forward-looking statements represent our views as of today, November 3, 2021. Joining me on the call today are Jack Bailey, our Chief Executive Officer, Jen Moses, our Chief Financial Officer, Andrew Perry, our Chief Commercial Officer, and Raj Malek, our Chief Medical Officer. And with that, I'll turn the call over to Jack. Thanks, Will.
Good morning, everyone, and thank you for joining us on the call today. We hope that you and your families are well. Today's headline from the third quarter is one of action and rapid execution to maximize the value of COSELLA for patients, healthcare professionals, and investors alike. COSELLA is a paradigm-changing drug. It is the first and only multi-lineage myeloprotection therapy to offer proactive protection against the dangerous impacts of myelosuppression when treating people living with small cell lung cancer. And we are experiencing a variety of important drivers, excuse me, a little bit of a head cold, or tailwinds, such as an exceptional reimbursement environment with no pushback on reimbursement or filed claims, along with a new permanent J-code that went inactive only one month ago high awareness and intention to treat, and excellent user experience and strong reordering. However, as most of you know from IQVF and other data sources, the softness that we discussed on the last call continued throughout this quarter, driven by variable geographic performance and a lack of access to the largest accounts. We believe that this is imminently addressable, and as you will hear, we are well along in the process. Actions we've taken include hiring our new Chief Commercial Officer, Andrew Perry, who I will introduce shortly, and we are in the process of hiring with urgency a new supplemental G1 sales force to access these top accounts. As our co-promotion partner, Barrier Ingleheim continues to be aware of the need to strengthen the sales line in the near term. Excuse me, so far we have good continuity in strategy, but we are also taking bold and immediate action to rectify this near-term performance gap. Turning to the clinical side of the business, we also remain focused on the long game via our tumor agnostic clinical programs to ensure that we continuously develop new data with tricyclic and a variety of tumors, chemotherapeutic backbones, and in combination with other therapeutic agents to maximize the applicability of the drug to future treatment paradigm. For example, as you will hear from Raj, we expect to initiate two new studies later this quarter designed to do just that, one of which will assess tricyclic in combination with an ADC. Now, we have a lot to update you on this morning. I will first introduce Andrew Perry and ask him to cover our commercial efforts for the third quarter of 2021 with a focus on our tailwinds and how we are addressing our headwinds, including a review of where we are in hiring our new sales Raj will then provide an update on some of our medical and clinical momentum during the third quarter. Finally, Jen will provide the financial results for the quarter, including that our cash runway now takes us into 2024. Then I'll be back for some clues and comments. With that, I am very excited to introduce our new Chief Commercial Officer, Andrew Perry. Andrew has 25 years of strategic product leadership experience with specific expertise in launching new innovative products in the U.S. market across a variety of therapeutic areas, including oncology, of growing brands throughout the product lifecycle, and managing co-promotion relationships. He's already fully integrated into the team, and I'm excited for all of you to get to know him. Andrew?
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