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Thursday, September 22, 2016 12:43:28 PM
Braeburn has made a point of not disclosing sales numbers or projections, and at the time of approval said it was "too early" to make any projections. They also pointed out it would take "a few months" for insurance issues to be ironed out. Probuphine was covered by about a dozen insurers by the end of July, which gradually rose to over 180 by last week, and pretty much all of them require "prior approval."
Sheldon is smart. She realizes in order for a sale to occur, a doctor has to go through probuphine REMS training, locate a patient stabilized on 8mg or less, determine insurance coverage (which wasn't available in most cases until the last 30 days), see the patient, recommend probuphine, obtain pre-approval from the insurer, arrange for an appointment with the patient to insert the implant, order probuphine from Braeburn, and then perform the procedure.
So given all of that, is 239 sales really a disappointment at this early stage? Most insurers have covered probuphine for less than a month. Most buprenorphine patients see their doctors once a month for the refill. Has there really been time for a flood of sales to occur? If so, what possible advantage is there to air that publicly? For a CEO to say "Wow, my projections were dead wrong" and sales have not met expectations.
Maybe if you have a vested interest in a certain company's stock price not becoming too expensive to buy in the near future.
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