Tercica Inc. Q1 2008 Earnings Call Transcript

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2008-05-12 16:30:12.0

Tags: Tercica Inc.

Question-and-Answer Session

Operator

(Operator Instructions)

Your first question is from Eric Schmidt with Cowen and Company.

Eric Schmidt - Cowen and Company

Good afternoon, gentlemen.

Chip Scarlett

Hi, Eric.

Eric Schmidt - Cowen and Company

Hello. I have question on the number of patients on Increlex. I assume you saw no diminishing in that number during Q1?

Richard King

No, we did not say any diminish in patient with Increlex, indeed we’ve seen have seen robust continued momentum in terms of the Increlex brand.

Eric Schmidt - Cowen and Company

When we look at the significant sales quarter to-date in Q2, I would venture $3.1 million to-date, is that mostly, Richard a makeup on Increlex as apposed to some new growth on Somatuline?

Richard King

Yes, it is.

Ajay Bansal

So, Eric actually the delta between -- the Q1 our total sales were $4.6 million and we just talked about our sales being $7.4 million year-to-date. So far in this quarter we have $2.8 million versus $3.1 million that you mentioned and of course they come from Increlex and Somatuline Depot as well as the licensing revenue.

Eric Schmidt - Cowen and Company

Oh, that is inclusive of licensing revenue then in that sale?

Ajay Bansal

Yes.

Eric Schmidt - Cowen and Company

Okay. I am with you. Thanks for the clarification on that. Are you seeing any sales on Somatuline outside the labeled indication?

Richard King

So, we have seen the request from physicians for to treat patients outside of acromegaly and those request are being assessed by payors in terms of merits of pursuing those.

Eric Schmidt - Cowen and Company

So far no clearances or --?

Richard King

No, we do have clearance payers have non-patients have been treated for conditions outside of acromegaly.

Eric Schmidt - Cowen and Company

Okay. The last question is on the manufacturing start-up cost, are we still on for roughly $2 million and such cost for the duration of 2008 or is that no longer applicable?

Richard King

Yes, that is in ballpark, the estimated cost that we have for the remainder of the year?

Eric Schmidt - Cowen and Company

So, that on a quarterly basis will be trending down in immediately.

Richard King

That said, we would expect the majority of these cost taken place by the end of the third quarter?

Eric Schmidt - Cowen and Company

Okay. Thanks a lot.

 

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