Third quarter 2020 total revenues of $20.2 million, a 45% increase over third quarter 2019
Third quarter 2020 GOCOVRI® product sales of $19.0 million, a 36% increase over third quarter 2019
Total paid prescriptions of 7,930, a 19% increase over third quarter 2019
#ADMS "reported financial results for the third quarter ended September 30, 2020, and recent corporate highlights.
Total revenues were $20.2 million in the third quarter of 2020, an increase of 45% as compared to $13.9 million in the third quarter of 2019.
GOCOVRI product sales were $19.0 million in the third quarter of 2020, an increase of 36% as compared to $13.9 million in the third quarter of 2019.
Total paid prescriptions (TRx) of GOCOVRI were approximately 7,930 in the third quarter of 2020, a 19% increase over approximately 6,640 TRx in the third quarter of 2019. Third quarter TRx decreased 3% as compared to second quarter 2020 TRx of approximately 8,150, reflecting the impact of lower new paid prescriptions (NRx) in the prior quarter from reduced patient access to health care providers. Strong patient persistence of 45%-50% at 12 months continued in the third quarter of 2020.
New paid prescriptions (NRx) of GOCOVRI were approximately 430 in the third quarter of 2020, a 16% increase over NRx of approximately 370 in the second quarter of 2020, reflecting a slight improvement in patient access to health care providers in an environment impacted by COVID-19.
Post-hoc data analyses presented at the 2020 Movement Disorder Society Congress show GOCOVRI may reduce OFF time in Parkinson’s disease patients with dyskinesia, with prolonged effects for at least two years.
The U.S. Food and Drug Administration approved the supplemental new drug application to add AMSA S.p.A. as a secondary supplier of active pharmaceutical ingredients for GOCOVRI.
The Company recognized $1.2 million of royalty revenue on net sales of NAMZARIC® in the third quarter of 2020.
Strengthened leadership team with the addition of Adrian Quartel, M.D., Chief Medical Officer, and Jill Jene, Head of Corporate Development, as well as the appointment of Anna Richo to the board of directors.
Entered into a Memorandum of Understanding to settle one of the Company’s previously disclosed class-action lawsuits in the California Superior Court for the County of Alameda. The payment of $7.5 million, which will be paid by the Company’s Director & Officer liability insurance, resolves claims asserted against the Company, its officers, directors and the other defendants. This settlement agreement remains subject to approval by the California State Court. A final non-appealable closure of this court action is expected mid-2021.
See details and press release HERE.
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