GBT Reports First Quarter 2021 Financial Results.
ENPNewswire-May 6, 2021--GBT Reports First Quarter 2021 Financial Results
(C)2021 ENPublishing - http://www.enpublishing.co.uk
Release date- 05052021 - SOUTH SAN FRANCISCO, Calif. - Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) reported recent business progress and financial results for the first quarter ended March 31, 2021.
'In the first quarter, our team continued to drive adoption of Oxbryta among sickle cell patients and healthcare providers as the fundamentals of our launch remain strong. We introduced new and enhanced materials to educate physicians and patients about Oxbryta, as well as support adherence via new tools and starter kits to set up patients for success. Despite the headwinds we expected from the COVID-19 pandemic during the quarter, we continue to deliver new prescriptions, and the net number of patients on Oxbryta has increased each quarter since launch. As the year continues, we believe we will see a gradual improvement in new prescriptions as COVID-19 cases decrease, more people are vaccinated, and SCD patients begin to reengage with the healthcare system,' said Ted W. Love, M.D., president and chief executive officer of GBT.
'On the clinical front, we continue to see real-world evidence from patients taking Oxbryta that shows significant and sustained improvement in hemoglobin levels, reduction in hemolysis, and improved overall health status. The growing body of clinical evidence demonstrating the benefits of Oxbryta supports our belief that it should become a standard therapy in sickle cell disease. In addition, we are building an innovative pipeline to address SCD from multiple approaches. We are on track to start two Phase 3 trials of inclacumab by mid-year and to generate proof-of-concept data for GBT601 in SCD patients by year end, as we strive to make SCD a well-managed condition for patients,' added Dr. Love.
Recent Business Progress
Commercial
Achieved Oxbryta (voxelotor) tablets net sales of $39.0 million in the three months ended March 31, 2021, an increase of 177% year-over-year. On a sequential basis, sales decreased 5% in the first quarter compared to the fourth quarter of 2020, driven primarily by lower inventory levels and a higher gross-to-net adjustment, partially offset by patient demand.
Recorded approximately 950 new prescriptions of Oxbryta in the first quarter, despite new cases of COVID-19 reaching peak levels in the U.S. during this period.
New prescriptions in the first quarter reflect fewer healthcare provider and patient interactions due to the increase in COVID-19 cases in the U.S. during this period, partially offset by utilization of telemedicine by healthcare providers. GBT continues to believe that when the pandemic subsides, the number of new prescriptions will improve and surpass pre-COVID-19 levels over time.
Oxbryta continues to have broad payer coverage, with more than 90% of covered lives having access through their healthcare plans.
Launched patient starter kits and new sales materials in the U.S. to provide deeper education on Oxbryta and increase patient adherence, and launched www.gbtsource.com, which provides information for patients, caregivers and health professionals on GBT Source Solutions - the company's dedicated sickle cell disease (SCD) patient support program that helps eligible patients start and stay on Oxbryta.
A market research study of current Oxbryta users completed during the first quarter showed that 84% of participants reported that it works extremely well.
Clinical
On track to initiate two global, randomized, placebo-controlled, pivotal Phase 3 trials evaluating the safety and efficacy of inclacumab by mid-year, and to begin studying GBT601 in SCD patients with a goal of providing proof-of-concept data by the end of the year.
In April 2021, the complete 72-week results from the Phase 3 HOPE Study of Oxbryta were published in The Lancet Haematology. The results showed significant and sustained improvement in hemoglobin levels, reduction in hemolysis and improved overall health status in patients treated with Oxbryta.
In April 2021, presented a poster at the Academy of Managed Care Pharmacy 2021 Meeting highlighting a large-scale, longitudinal analysis demonstrating that increased hemoglobin levels in adult patients with SCD significantly reduced the risk of developing new end-organ damage.
In April 2021, results from a single-center analysis including 76 patients (age 12-70) with SCD were presented at the American Society of Pediatric Hematology/Oncology Conference, reinforcing the efficacy and safety of treatment with...
To continue reading
Request your trial