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    Hardik Parikh • JPMorgan Chase & Co.

    Hardik Parikh's questions to Pacira Biosciences Inc (PCRX) leadership

    Hardik Parikh's questions to Pacira Biosciences Inc (PCRX) leadership • Q2 2025

    Question

    Hardik Parikh from JPMorgan Chase & Co. asked about the gating factors behind the 6-12 month EXPAREL formulary adoption timeline mentioned in a survey. He also inquired about the balance of the sales team's pitch between educating on the NOPAIN Act versus explaining EXPAREL's clinical benefits.

    Answer

    CCO Brendan Teehan explained the adoption timeline is driven by facilities confirming reimbursement and waiting for commercial payers to follow CMS's lead. He clarified that while NOPAIN enhances the value proposition, the majority of the sales team's time is focused on EXPAREL's clinical differentiation. CEO Frank Lee added that the IGOR registry data reinforces the product's health economic value.

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    Hardik Parikh's questions to Pacira Biosciences Inc (PCRX) leadership • Q1 2025

    Question

    Hardik Parikh of JPMorgan Chase & Co. questioned the gross margin outlook, asking why the full-year guidance was only reiterated and not raised, given the low single-digit margin benefit from the elimination of the RDF royalty.

    Answer

    CEO Frank Lee and CFO Shawn Cross acknowledged the favorable royalty ruling and the strong Q1 margin performance. However, Cross explained that they are maintaining the current guidance due to potential quarter-over-quarter manufacturing variability and a desire to assess performance after Q2. Lee added that the company is also monitoring the potential impact of new tariffs, reinforcing their comfort with the current guidance range for now.

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    Hardik Parikh's questions to Pacira Biosciences Inc (PCRX) leadership • Q4 2024

    Question

    Hardik Parikh asked if the higher R&D and operating expense guidance for 2025 represents a new, sustained level of spending or if it is a one-time increase driven by specific events like the PCRX-201 trial enrollment and DTC pilots. He also requested more details on the commercial payers that have adopted NOPAIN-like reimbursement policies.

    Answer

    CEO Frank Lee characterized the 2025 spending increase as a targeted investment in key catalysts that are expected to deliver a strong return, but he refrained from guiding beyond the current year. Regarding payers, Lee confirmed that a national payer and others have adopted policies similar to NOPAIN, effectively doubling commercial covered lives from approximately 20 million to 40 million. He also noted a significant win with TRICARE, viewing these early commercial successes as highly encouraging.

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    Hardik Parikh's questions to Viking Therapeutics Inc (VKTX) leadership

    Hardik Parikh's questions to Viking Therapeutics Inc (VKTX) leadership • Q2 2025

    Question

    Hardik Parikh of J.P. Morgan asked for details on the specific titration doses used in the ongoing Phase II oral study for cohorts with target doses of 60mg or higher. He also inquired about the potential for the oral program to advance directly to Phase III.

    Answer

    President & CEO Brian Lian clarified that for doses of 60mg and above, titration occurs in two-week blocks (e.g., 30mg, 60mg, 90mg). Regarding a direct move to Phase III for the oral program, he stated that it is currently unclear and the company needs to evaluate the Phase II data before making a decision.

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    Hardik Parikh's questions to Viking Therapeutics Inc (VKTX) leadership • Q1 2025

    Question

    Hardik Parikh requested an update on the logistical preparations for the Phase III trial of VK2735, asking whether remaining hurdles were regulatory or operational and if there was a risk of the initiation slipping into the third quarter.

    Answer

    Brian Lian, President and CEO, affirmed the company's plan to initiate the study in the second quarter. He detailed that the preparatory work is primarily logistical, involving a significant effort in managing drug supply, manufacturing, labeling for various titration doses, and preparing clinical sites.

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    Hardik Parikh's questions to Viking Therapeutics Inc (VKTX) leadership • Q4 2024

    Question

    Hardik Parikh asked if studying VK2735 in a type 2 diabetes population was part of the original strategy or a result of FDA feedback. He also inquired if the H2 2025 oral data release would be top-line or a full dataset, and if the amylin candidate could be one previously disclosed.

    Answer

    CEO Brian Lian clarified that including a separate study in obese subjects with type 2 diabetes is a standard strategy to get glycemic control data into the label. He expects to release top-line data first, with full results later. He also confirmed it is possible the amylin candidate is one that was previously disclosed.

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    Hardik Parikh's questions to Viking Therapeutics Inc (VKTX) leadership • Q3 2024

    Question

    Hardik Parikh sought clarification on whether doses above 100mg for oral VK2735 have been tested and asked for Viking's high-level takeaways from recent competitive data readouts in the obesity space, such as those presented at EASD.

    Answer

    Executive Brian Lian clarified that the oral dose escalation cohorts went up to 100mg. Regarding the competitive landscape, he expressed continued confidence, stating that recent data from competitors at conferences like EASD did not change their view that Viking possesses two of the best-in-class programs with its injectable and oral formulations.

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    Hardik Parikh's questions to Royalty Pharma PLC (RPRX) leadership

    Hardik Parikh's questions to Royalty Pharma PLC (RPRX) leadership • Q1 2025

    Question

    Hardik Parikh of JPMorgan Chase & Co. inquired about the impact of recent regulatory and policy uncertainty on the deal-making environment and asked for an update on the Vertex cystic fibrosis arbitration timelines.

    Answer

    EVP, Vice Chairman Christopher Hite confirmed the deal pipeline remains robust and is not significantly impacted by policy uncertainty, noting a 150% increase in in-depth reviews since 2019. EVP, CFO Terrance Coyne stated there was no new update on the Vertex arbitration but reiterated the company's strong position.

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    Hardik Parikh's questions to Royalty Pharma PLC (RPRX) leadership • Q3 2024

    Question

    Hardik Parikh inquired about the significance of the recently approved label for Covent fee (KarXT), which notably avoided the typical black box warning seen in other antipsychotics, and how this outcome compares to Royalty Pharma's internal base-case scenario.

    Answer

    Marshall Urist, EVP, Head of Research and Investments, responded that the company was very pleased with the label, viewing it as a validation of their strategy to invest in products with differentiated efficacy and safety for patient populations with high unmet needs. He added that having the drug in Bristol Myers Squibb's hands is expected to maximize its commercial value, aligning with Royalty Pharma's investment thesis.

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