Release Date: February 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you discuss the assumptions for NOPAIN implementation and uptake, and what might impede rapid adoption by customers? A: Frank Lee, CEO: We're excited about NOPAIN, but it will take time for customers to gain traction, likely starting in the second half. We need to raise awareness and ensure customers are comfortable with the J-code. Early signs are positive, but it takes time for full adoption.
Q: Are you seeing successful reimbursement with NOPAIN, and have you gained access to new accounts or geographies? A: Frank Lee, CEO: It's early, but we're seeing encouraging signs. Revenue cycles can take weeks to complete, and while it's early days, we're seeing good traction and some commercial payer wins, which is promising.
Q: Given your confidence in EXPAREL's exclusivity, why not be more aggressive with share buybacks? A: Frank Lee, CEO: We value certainty and long-term shareholder value. We're disciplined in capital allocation, focusing on operations, pipeline additions, and managing the balance sheet. We have $125 million left on our buyback program and will manage it strategically.
Q: Can you discuss the relative contributions of your product portfolio for 2025 and any sequential trends? A: Shawn Cross, CFO: EXPAREL remains our flagship product, with catalysts like the J-code and NOPAIN. We expect double-digit CAGR exiting the year. ZILRETTA and iovera will also contribute, with more meaningful uptake expected in the second half.
Q: How do you view ZILRETTA's potential contribution to revenue growth with Phase 3 data for shoulder OA expected in 2026? A: Frank Lee, CEO: We're excited about ZILRETTA's potential in shoulder OA, a market with about 1 million intra-articular injections annually. We expect top-line data mid to late next year, and it could be the first long-acting corticosteroid for shoulder use.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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