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
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.
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Plenity is inspired by nature and FDA
cleared to aid in weight management. (Photo: Business Wire)
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220316005056/en/
Media Relations Katie
Sullivan ksullivan@gelesis.com
Investor Relations Lynne
Collier, ICR lynne.collier@icrinc.com
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