Impel Pharmaceuticals (NASDAQ: IMPL) reported its share prices tank substantially Monday, as the commercial-stage pharmaceutical company reported financial results for the second quarter ended June 30, 2022 and provided a corporate update.
The Company’s net revenues from sales of Trudhesa was $2.8 million for the second quarter 2022. As shipments of Trudhesa were initiated to specialty pharmacies in late September 2021 ahead of the October commercial launch, there were no product revenues for the same period of 2021.
Net losses for the second quarter 2022 were $25.2 million or $1.09 per common share. This is compared to net losses of $15.5 million or $1.10 per common share for the same period in 2021.
“We continue to see robust growth and momentum with Trudhesa®, with a forty-eight percent increase in prescriptions in the second quarter and an achievement of around five percent market share of acute branded prescriptions among prescribers in only nine months since launch. By the end of July, Trudhesa had generated over 31,000 prescriptions to-date,” said CEO Adrian Adams,
“During the last quarter, we increased our sales force by 50% to 90 sales professionals, providing us with greater efficiency in reaching and supporting both our super targets and targets.
This in turn places us in a strong position to further accelerate prescription momentum in the second half of the year and to maximize on the continued unmet need in this large and growing migraine market.”
IMPL sank 60 cents, or 6.9%, to $8.10.
