New Plenity patient prescriptions increased
3.5-fold within the first three weeks of the national media
campaign launch
Gelesis has projected $58 million in net
revenue in this first full launch year 2022
PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) (“PureTech” or the
“Company”), a clinical-stage biotherapeutics company noted today
that its Founded Entity, Gelesis Holdings Inc. (NYSE: GLS)
(“Gelesis”), the maker of Plenity, announced preliminary results
from its broad awareness media campaign that debuted January 31,
2022. Within the first three weeks, Gelesis saw a 3-fold increase
in web traffic and 3.5-fold increase in the number of individuals
seeking a new prescription compared to previous months when supply
was limited. Gelesis anticipates that its 2022 net product revenue
will be approximately $58 million in its first year of full launch,
reaffirming guidance the company issued earlier this year.
Gelesis acquired approximately 4,700 new Plenity members per
week within the first three weeks of the campaign. This is in
addition to existing members who continue their Plenity
prescriptions. About 70% of Plenity members had never tried a
prescription weight management product before, indicating Plenity
is bringing new people into the category of prescription weight
management products. Within two weeks of the campaign launch,
Plenity has reached organic search volumes on par with
well-established weight loss and weight management brands according
to data from Google Trends®.
Consistent with Gelesis’ digital-first business strategy built
to rapidly adapt to customer needs, the company recently shifted
its healthcare sales force efforts to primarily virtual sales
visits. Healthcare provider (“HCP”) prescriptions of Plenity are up
100% since the media campaign began, and over 40% of HCP
prescriptions were requested by the consumer (a 60% increase from
the company’s beta launch benchmark).
The full text of the announcement from Gelesis is as
follows:
Gelesis® Releases Preliminary National
Launch Results for Plenity®:
Record-Breaking Levels of Prescriptions and
Online Traffic
New Plenity patient prescriptions increased
3.5-fold within the first three weeks of the national media
campaign launch
The company has projected $58 million in net
revenue in this first full launch year 2022
BOSTON, MARCH 16, 2022 – Gelesis (NYSE: GLS), the maker
of Plenity, announced preliminary results from its broad awareness
media campaign that debuted January 31, 2022. Within the first
three weeks, the company saw a 3-fold increase in web traffic and
3.5-fold increase in the number of individuals seeking a new
prescription compared to previous months when supply was limited.
Gelesis anticipates that its 2022 net product revenue will be
approximately $58 million in its first year of full launch,
reaffirming guidance the company issued earlier this year.
Gelesis acquired approximately 4,700 new Plenity members per
week within the first three weeks of the campaign. This is in
addition to existing members who continue their Plenity
prescriptions. About 70% of Plenity members had never tried a
prescription weight management product before, indicating Plenity
is bringing new people into the category of prescription weight
management products. Within two weeks of the campaign launch,
Plenity has reached organic search volumes on par with
well-established weight loss and weight management brands according
to data from Google Trends®.
“We are offering clinically proven healthcare with the
convenience you expect from e-commerce. You can seek out a Plenity
prescription at any time, from anywhere, at an affordable cost,”
said David Pass, Pharm.D., Chief Operating and Commercial Officer
of Gelesis. “We saw in our clinical studies that 6 out of 10 of
people were responders and consistent with that, 60% of our members
have ordered multiple monthly kits within the limited time Plenity
has been available. We are very excited by what we are hearing from
members about their real-world experience.”
Gelesis’ exclusive telehealth partner, Ro, responded to growing
patient demand when it placed $40 million in pre-orders for Plenity
last year. Since then, the broad consumer launch, as well as the
continued growth of Ro’s direct-to-patient healthcare platform, has
led to Plenity becoming one of the most sought-after offerings on
Ro’s platform.
“Last month, Plenity was the fastest growing treatment on Ro and
brought in more new members than any other product,” said Zachariah
Reitano, CEO and Co-founder of Ro. “We’re excited about the recent
expansion of our partnership with Gelesis that will enable us to
bring this innovative offering to more patients nationwide.”
Consistent with Gelesis’ digital-first business strategy built
to rapidly adapt to customer needs, the company recently shifted
its healthcare sales force efforts to primarily virtual sales
visits. Healthcare provider (“HCP”) prescriptions of Plenity are up
100% since the media campaign began, and over 40% of HCP
prescriptions were requested by the consumer (a 60% increase from
the company’s beta launch benchmark).
Regardless of whether they came through telehealth or by way of
traditional HCPs, about 95% of members are confident or very
confident in using the product upon receiving their first shipment.
The majority of Plenity members describe the process as quick and
easy to navigate. Seventy percent of the people who have paused
taking Plenity indicated that they would consider using it again in
the future.
Previous marketing efforts around Plenity were very limited
while Gelesis built out a commercial-scale manufacturing facility.
The company scaled up its proprietary manufacturing efforts at the
end of 2021 to meet rapidly growing demand.
Gelesis anticipates releasing its earnings for the full year
2021 this month. Financial results from this quarter’s broad
national launch are expected to be reflected in the company’s first
quarter of 2022 earnings, anticipated to be released in May.
Important Safety Information about Plenity
- Patients who are pregnant or are allergic to cellulose, citric
acid, sodium stearyl fumarate, gelatin, or titanium dioxide should
not take Plenity.
- To avoid impact on the absorption of medications:
- For all medications that should be taken with food, take them
after starting a meal.
- For all medications that should be taken without food (on an
empty stomach), continue taking on an empty stomach or as
recommended by your physician.
- The overall incidence of side effects with Plenity was no
different than placebo. The most common side effects were diarrhea,
distended abdomen, infrequent bowel movements, and flatulence.
- Contact a doctor right away if problems occur. If you have a
severe allergic reaction, severe stomach pain, or severe diarrhea,
stop using Plenity until you can speak to your doctor.
Rx Only. For the safe and proper use of Plenity or more
information, talk to a healthcare professional, read the Patient
Instructions for Use, or call 1-844-PLENITY.
About Gelesis
Gelesis Holdings Inc. (NYSE: GLS) (“Gelesis”) is a
consumer-centered biotherapeutics company and the maker of
Plenity®, which is inspired by nature and FDA cleared to aid in
weight management. Our first-of-their-kind non-systemic
superabsorbent hydrogels are made entirely from naturally derived
building blocks. They are inspired by the composition and
mechanical properties of raw vegetables, taken by capsule, and act
locally in the digestive system, so people feel satisfied with
smaller portions. Our portfolio includes Plenity®, and potential
therapies in development for patients with Type 2 Diabetes,
Non-alcoholic Fatty Liver Disease (NAFLD)/Non-alcoholic
Steatohepatitis (NASH), and Functional Constipation. For more
information, visit gelesis.com, or connect with us on Twitter
@GelesisInc.
Disclaimer
Gelesis assumes no obligation and does not intend to update or
revise the results provided in this press release. The results
provided in this press release represent past performance and are
not necessarily predictive of future results.
Forward-Looking Statements
Certain statements, estimates, targets and projections in this
press release may constitute “forward-looking statements” within
the meaning of the federal securities laws. The words “anticipate,”
“believe,” continue,” “could,” “estimate,” “expect,” “intend,”
“may,” “might,” “plan,” “possible,” “potential,” “predict,”
“project,” “should,” “strive,” “would” and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that statement is not forward looking.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Forward-looking statements include, but are not
limited to, statements regarding our or our management team’s
expectations, hopes, beliefs, intentions or strategies regarding
the future, including those relating to Gelesis’ business
combination with Capstar Special Purpose Acquisition Corp.
(“Capstar”) and its expected benefits, Gelesis’ performance
following the business combination, the competitive environment in
which Gelesis operates, the expected future operating and financial
performance and market opportunities of Gelesis and statements
regarding Gelesis’ expectations, hopes, beliefs, intentions or
strategies regarding the future. In addition, any statements that
refer to projections, forecasts, or other characterizations of
future events or circumstances, including any underlying
assumptions, are forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and Gelesis assumes no obligation and does not intend to update or
revise these forward-looking statements, whether as a result of new
information, future events, or otherwise. Gelesis gives no
assurance that any expectations set forth in this press release
will be achieved. Various risks and uncertainties (some of which
are beyond our control) or other factors could cause actual future
results, performance or events to differ materially from those
described herein. Some of the factors that may impact future
results and performance may include, without limitation: (i) the
size, demand and growth potential of the markets for Plenity® and
Gelesis’ other product candidates and Gelesis’ ability to serve
those markets; (ii) the degree of market acceptance and adoption of
Gelesis’ products; (iii) Gelesis’ ability to develop innovative
products and compete with other companies engaged in the weight
loss industry; (iv) Gelesis’ ability to finance and complete
successfully the commercial launch of Plenity® and its growth
plans, including new possible indications and the clinical data
from ongoing and future studies about liver and other diseases; (v)
failure to realize the anticipated benefits of the business
combination, including as a result of a delay or difficulty in
integrating the businesses of Capstar and Gelesis; (vi) the ability
of Gelesis to issue equity or equity-linked securities or obtain
debt financing in the future; (vii) the outcome of any legal
proceedings instituted against Capstar, Gelesis, or others in
connection with the business combination; (viii) the ability of
Gelesis to maintain its listing on the New York Stock Exchange;
(ix) the risk that the business combination disrupts current plans
and operations of Gelesis as a result of Gelesis being a publicly
listed issuer; (x) the regulatory pathway for Gelesis’ products and
responses from regulators, including the FDA and similar regulators
outside of the United States; (xi) the ability of Gelesis to grow
and manage growth profitably, maintain relationships with customers
and suppliers and retain Gelesis’ management and key employees;
(xii) costs related to the business combination, including costs
associated with the Gelesis being a publicly listed issuer; (xiii)
changes in applicable laws or regulations; (xiv) the possibility
that Gelesis may be adversely affected by other economic, business,
regulatory and/or competitive factors; (xv) Gelesis’ estimates of
expenses and profitability; (xvi) ongoing regulatory requirements,
(xvii) any competing products or technologies that may emerge,
(xviii) the volatility of the telehealth market in general, or
insufficient patient demand; (xix) the ability of Gelesis to defend
its intellectual property and satisfy regulatory requirements; (xx)
the impact of the COVID 19 pandemic on Gelesis’ business; (xxi) the
limited operating history of Gelesis; and (xxii) those factors
discussed in Capstar’s joint proxy/prospectus filed with the SEC on
December 27, 2021, under the heading “Risk Factors”, and other
documents of Gelesis filed, or to be filed, with the SEC, by
Gelesis. These filings address other important risks and
uncertainties that could cause actual results and events to differ
materially from those contained in the forward-looking
statements.
About PureTech Health
PureTech is a clinical-stage biotherapeutics company dedicated
to discovering, developing and commercializing highly
differentiated medicines for devastating diseases, including
inflammatory, fibrotic and immunological conditions, intractable
cancers, lymphatic and gastrointestinal diseases and neurological
and neuropsychological disorders, among others. The Company has
created a broad and deep pipeline through the expertise of its
experienced research and development team and its extensive network
of scientists, clinicians and industry leaders. This pipeline,
which is being advanced both internally and through PureTech's
Founded Entities, is comprised of 25 therapeutics and therapeutic
candidates, including two that have received both U.S. FDA
clearance and European marketing authorization, as of the date of
PureTech's most recently filed Half Year Report and corresponding
Form 6-K. All of the underlying programs and platforms that
resulted in this pipeline of therapeutic candidates were initially
identified or discovered and then advanced by the PureTech team
through key validation points based on the Company's unique
insights into the biology of the brain, immune and gut, or BIG,
systems and the interface between those systems, referred to as the
BIG Axis.
For more information, visit www.puretechhealth.com or connect
with us on Twitter @puretechh.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that are or may be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements contained
in this press release that do not relate to matters of historical
fact should be considered forward-looking statements, including
without limitation those statements that relate to expectations
regarding Gelesis’ revenue growth and projections, marketing
strategies and financial guidance, Gelesis’ plans with respect to
the broad commercial launch of Plenity®, the competitive
environment in which Gelesis operates, and Gelesis' and PureTech’s
future prospects, development plans, and strategies. The
forward-looking statements are based on current expectations and
are subject to known and unknown risks, uncertainties and other
important factors that could cause actual results, performance and
achievements to differ materially from current expectations,
including, but not limited to, those risks, uncertainties and other
important factors described under the caption “Risk Factors” in our
Annual Report on Form 20-F for the year ended December 31, 2020
filed with the SEC and in our other regulatory filings. These
forward-looking statements are based on assumptions regarding the
present and future business strategies of the Company and the
environment in which it will operate in the future. Each
forward-looking statement speaks only as at the date of this press
release. Except as required by law and regulatory requirements, we
disclaim any obligation to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
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PureTech Public Relations
publicrelations@puretechhealth.com Investor Relations
IR@puretechhealth.com
EU Media Ben Atwell, Rob Winder +44 (0) 20 3727 1000
ben.atwell@FTIconsulting.com
U.S. Media Nichole Sarkis +1 774 278 8273
nichole@tenbridgecommunications.com
PureTech Health (NASDAQ:PRTC)
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