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    Thomas ShraderBTIG, LLC

    Thomas Shrader's questions to Harrow Inc (HROW) leadership

    Thomas Shrader's questions to Harrow Inc (HROW) leadership • Q2 2025

    Question

    Thomas Schrader asked for clarification on the strategic differences between the Phil and ApolloCare specialty pharmacies for VEVYE distribution and inquired if the 'IHEZO for all' initiative involves trial programs that might impact short-term ASP.

    Answer

    CEO Mark Baum clarified that ApolloCare's value is its broader network of contracted insurance plans, which helps capture more commercially covered prescriptions and supports a higher overall ASP. He explained that 'IHEZO for all' is not about free drug trials but about building 'reimbursement confidence' by educating physicians on the product's pervasive insurance coverage to drive deeper utilization.

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    Thomas Shrader's questions to Novavax Inc (NVAX) leadership

    Thomas Shrader's questions to Novavax Inc (NVAX) leadership • Q1 2025

    Question

    Thomas Shrader from BTIG asked if the CIC vaccine is designed to have a reactogenicity profile similar to a standalone flu shot and inquired about the extent of human data for the updated COVID strain in the current BLA filing.

    Answer

    CEO John Jacobs responded that the CIC study is designed to show an immune response, not to meet a specific reactogenicity target, though they expect it to be reasonable. COO John Trizzino clarified that the BLA filing is for the existing vaccine based on prior Phase III data, and an updated strain would be a subsequent filing post-approval.

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    Thomas Shrader's questions to Verona Pharma PLC (VRNA) leadership

    Thomas Shrader's questions to Verona Pharma PLC (VRNA) leadership • Q1 2025

    Question

    Thomas Shrader asked about the overlap between COPD and bronchiectasis patients, whether Ohtuvayre's performance in this subgroup is known, and if the company is affected by the Medicare Part D redesign.

    Answer

    Chief Commercial Officer Christopher Martin explained that Verona is not significantly affected by the Part D redesign, as approximately 80% of reimbursement is through the medical benefit (Part B or Medicare Advantage). Chief Development Officer Dr. Tara Rheault and Chief Medical Officer Dr. Kathleen Rickard added that while few patients with confirmed bronchiectasis were in the ENHANCE trials, the drug's mechanisms are applicable. They noted that while there is symptom overlap, the underlying diseases differ, and about 20% of diagnosed bronchiectasis patients may also have COPD.

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    Thomas Shrader's questions to Verona Pharma PLC (VRNA) leadership • Q1 2025

    Question

    Thomas Shrader from BTIG asked about the clinical overlap between COPD and bronchiectasis, whether Ohtuvayre's efficacy in these patients is known, and if the company is impacted by the Medicare Part D redesign.

    Answer

    Christopher Martin, Chief Commercial Officer, clarified that Ohtuvayre is primarily reimbursed under medical benefit (Part B), making the Part D redesign impact minimal. Dr. Tara Rheault, Chief Development Officer, and Dr. Kathleen Rickard, Chief Medical Officer, explained that while few patients with confirmed bronchiectasis were in the pivotal trials, the drug's mechanisms are applicable. They noted an estimated 20% of bronchiectasis patients also have a COPD diagnosis.

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    Thomas Shrader's questions to Verona Pharma PLC (VRNA) leadership • Q4 2024

    Question

    Thomas Shrader asked about any common themes among the 45% of Tier 1 healthcare providers who have not yet prescribed Ohtuvayre and questioned if the nebulizer delivery system poses a significant barrier to adoption.

    Answer

    Chief Commercial Officer Chris Martin explained that the prescribing pattern reflects typical launch dynamics of early versus late adopters, rather than a specific structural issue. He noted that market research indicates non-prescribing physicians see the drug's benefits and intend to prescribe it in the future. Regarding the delivery method, he asserted that innovation is trumping the route of administration, calling the nebulizer a 'nonissue' and noting that some patients find it a comforting way to receive their medication.

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    Thomas Shrader's questions to Verona Pharma PLC (VRNA) leadership • Q3 2024

    Question

    Thomas Shrader asked what physicians who are trialing Ohtuvayre with a few patients are looking for to increase adoption, and what 'power users' are saying that could refine the marketing message. He also asked for an update on the performance of the patient support and access infrastructure.

    Answer

    Executive David Zaccardelli and Chief Commercial Officer Chris Martin explained that physicians typically accelerate usage after positive initial patient feedback, which is encouraged by increased interaction with the sales team. Martin confirmed the support infrastructure is working well, with a significant majority of scripts being paid and over 80% of dispensed patients having a co-pay under $10.

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    Thomas Shrader's questions to Verona Pharma PLC (VRNA) leadership • Q2 2024

    Question

    Thomas Shrader asked for any early read on the types of patients receiving the first Ohtuvayre prescriptions, specifically if they are patients failing triple therapy or being treated earlier. He also inquired about the development pathway for a fixed-dose combination in a handheld device.

    Answer

    Chief Commercial Officer Chris Martin explained it's too early for a detailed patient profile analysis but confirmed the initial prescribers are from their top-tier target list of physicians. These doctors report a high unmet need for patients with persistent symptoms. An unnamed executive clarified that developing a fixed-dose combination typically requires working through the monotherapy's development in that specific formulation first.

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    Thomas Shrader's questions to Compass Pathways PLC (CMPS) leadership

    Thomas Shrader's questions to Compass Pathways PLC (CMPS) leadership • Q3 2024

    Question

    Thomas Shrader from BTIG inquired whether patient dropout rates in the trials are tracking as expected given the study's complexity and if the company is increasing the number of patients to be enrolled.

    Answer

    An unnamed executive responded that the patient attrition rate is currently running slightly below their plan, indicating better-than-expected retention. He also confirmed that the company is not making any adjustments to the trial's sample size.

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