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Access Pharmaceuticals (ACCP.OB)
Q4 2012 Earnings Call
April 03, 2013 11:00 AM ET
Christine Berni - IR
Jeffrey Davis - President and CEO
Frank Jacobucci - VP of Sales and Marketing
Anthony Mottola - VP, Managed Care & Market Access
Peter Malone - Aegis Securities
Henry Peterson - JMP Securities
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Thank you, good morning to everyone. On the call today are Jeff Davis, CEO of Access Pharmaceuticals; Frank Jacobucci, our VP of Sales and Marketing; and Anthony Mottola, our VP of Managed Care & Market Access. At the end of the call we will open up forward for a brief Q&A session. Please listen to the operator’s instructions on how to get on the line to ask a question. Before I turn the call over to them, I need to remind our listeners that remarks made during this call may contain forward-looking statements and involved risks.
Forward-looking statements on this call made pursuant to the Safe Harbor provision of the Federal Security Laws. Information contained in the forward-looking statements are based on current expectations and is subject to change and result may differ materially from forward-looking statements. Some other factors that could cause results to differ are discussed in our report at the SEC. These documents are available on our website at www.accesspharma.com. Additional info pertaining to MuGard can be found on www.mugard.com.
With that said, it is now my pleasure to introduce Jeffrey Davis. Jeff you have the floor.
Thank you Christine and I would like to thank everyone for participating in the call today as well as Frank and Anthony for being here today in sort of out of the field to do this conference call. The call similarly to a recent, sort of quarterly call, is to give some highlights on the fourth quarter as referred in the recently filed 10-K as well as other events in the fourth quarter. And we will also be putting on some of the first quarter 2013 events that as well.
So Access continues to be very pleased with continued growth in MuGard option as noted in scrip growth, option (inaudible) payers. Pharmacy benefits for amateurs and obviously in revenues. We recorded record growth revenues from MuGard in the fourth quarter, approximately 1.05 million as reflected in the press release around the time of the K filing. Obviously, a very significant increase quarter-over-quarter and total 2012 revenues were significantly greater than 2011 revenues. I think it is worth noting that, we changed the way we reported revenue a couple of quarters ago, that we talked about and I refer you to file 10-K and Q, the most recently filed 10-K as well as 10-Q to see the difference between gross and net revenues all sort of standard accounting stuff. There's actually a table in Q that shows both the gross MuGard revenues.
I think we're pleased as to the activity that took place in the fourth quarter and the first quarter I think Frank and Anthony you're going to go into some detail as to the growth in our whole distribution network whether it's payers, additional group purchasing, organizations that have signed on additional PBM contracts. We'll provide an update on Premier, an exciting new GPO agreement that was recently signed and they'll take you through that and we can take some questions at the end.
I very often get questions as to when we anticipate seeing clinical data. Frank's going to talk a little bit about that but very shortly is the short answer, we have data on a 120 patients that will be presented at the Oncology Nursing Societies Annual Congress that takes place at the end of this month, where Access will have a MuGard commercial presence there in terms of a booth and what have you, and we will present data on our ongoing Phase 4 clinical trial at the MASC Conference, the Multinational Association of Supportive Care and Cancer. Last year, recall, we presented interim data at the Congress in the end of June in New York City, this congress is in Berlin as I understand it as well in the end of June and we anticipate presenting additional data on our trial at that time, and we will be happy to take some questions on that later on as well.
So I think I'll turn it over at this point to Frank to review some of his activities.
Great, thank you Jeff and good morning and thank you everyone for being on the call, I am very excited to report to you that we are, as Jeff mentioned, continuing to see large double digit increase this quarter over quarter and this past quarter was no exception. Anthony is going to describe to some of the contracts, some agreements that we've signed that help us get to this place, and I’ll give you some of the blocking and tackling with some of the results, some of the new initiatives and then why we're doing what we're doing and help you kind of monetize the potential of some of the actions and some of the strategies that we're taking.