BUSINESS UPDATE CALL September 7, 2017
INTRODUCTION Gem Hopkins VP, Investor Relations & Corporate Communications
SAFE HARBOR STATEMENT This presentation and any statements made for and during any presentation or meeting contain forward-looking statements related to Synergy Pharmaceuticals Inc. under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These statements may be identified by the use of forward-looking words such as "anticipate," "planned," "believe," "forecast," "estimated," "expected," and "intend," among others. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, the development, launch, introduction and commercial potential of TRULANCE™; growth and opportunity, including peak sales and the potential demand for TRULANCE, as well as its potential impact on applicable markets; market size; substantial competition; our ability to continue as a going concern; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payer reimbursement; dependence upon third parties; our financial performance and results, including the risk that we are unable to manage our operating expenses or cash use for operations, or are unable to commercialize our products, within the guided ranges or otherwise as expected; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. There are no guarantees that future clinical trials discussed in this presentation will be completed or successful or that any product will receive regulatory approval for any indication or prove to be commercially successful. Investors should read the risk factors set forth in our most recent periodic reports filed with the Securities and Exchange Commission, including our Form 10-K for the year ended December 31, 2016. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Forward-looking statements included herein are made as of the date hereof, and we do not undertake any obligation to update publicly such statements to reflect subsequent events or circumstances except as required by law. The information in this presentation is not targeted at the residents of any particular country or jurisdiction and is not intended for distribution to, or use by, any person in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. 3 Business Update I September 7, 2017
AGENDA • Business Overview – Gary S. Jacob • Financial Update – Gary Gemignani • Launch Update – Troy Hamilton • Closing Remarks – Gary Jacob • Q&A Portion 4 Business Update I September 7, 2017
OVERVIEW Gary S. Jacob, PhD Chairman & CEO
RECENT HIGHLIGHTS • Completed first full quarter of launch of Trulance in CIC • More than 12,600 prescriptions, $2.3M net revenues, for 2Q17 • Trulance sNDA for IBS-C accepted for FDA review • January 24, 2018 PDUFA date • Secured $300 million debt financing 6 Business Update I September 7, 2017
KEY BUSINESS PRIORITIES • Optimize the value of Trulance • Continue to grow market share in CIC • Expand utility in IBS-C – January 24, 2018 PDUFA date • Ensure a strong financial foundation • Continue to evaluate opportunities to improve expense management • Transition Company to cash flow positive • Maximize long-term shareholder value 7 Business Update I September 7, 2017
FINANCIAL UPDATE Gary Gemignani EVP, Chief Financial Officer
ENSURING A STRONG FINANCIAL FOUNDATION • Secured $300 million debt financing • Funds will be used primarily to support the commercial launch of Trulance • Non-dilutive source of capital that enhances cash position • Continue to evaluate opportunities to improve operating efficiency and expense management 9 Business Update I September 7, 2017
TRULANCE LAUNCH UPDATE Troy Hamilton EVP, Chief Commercial Officer
SYNERGY AND TRULANCE: WELL POSITIONED FOR SUCCESS RIGHT RIGHT RIGHT RIGHT MARKET PRODUCT TEAM STRATEGY 11 Business Update I September 7, 2017
KEY CUSTOMERS AND LAUNCH STRATEGIES Launch Strategies Drive Awareness of Trulance and Stimulate Trial and Adoption HCPs Activate and Support the Rx Ready Patient PATIENTS Ensure Access PAYERS 12 Business Update I September 7, 2017
LESS THAN 20% OF PRESCRIBERS ARE WRITING 70% OF THE TOTAL BRANDED PRESCRIPTIONS Branded Rx Combined Decile Rx Mean # of Doctors % of Doctors # of Prescriptions % of Prescriptions 10 460 753 0.5% 346,054 10.0% 27,713 HCPs = 70% of Rx’s 9 245 1,411 0.9% 346,028 10.0% • ~ 45% primary care physicians 8 163 2,120 1.3% 346,114 10.0% • ~ 30% gastroenterologists 7 113 3,057 1.9% 346,196 10.0% • ~ 18% nurse practitioners or 6 78 4,440 2.7% 346,134 10.0% physician assistants 5 54 6,448 4.0% 346,132 10.0% 4 36 9,484 5.9% 346,141 10.0% 3 24 14,549 9.0% 346,145 10.0% Decile 3: 2 Rx’s per month 2 14 25,109 15.5% 346,109 10.0% Decile 2: ~ 1 Rx per month Decile 1: = 1 Rx every 3 months 1 4 94,563 58.4% 346,071 10.0% Total 161,934 100% 3,461,124 100% 4-10 27,713 17% 2,422,799 70% Source: QuintilesIMS Xponent - March 2017; excluding non-called on specialties (peds, pain, hem/onc) 13 Business Update I September 7, 2017
TARGETED COMMERCIAL STRATEGY FOCUSED ON A CONCENTRATED PRESCRIBER BASE Branded Rx Market 134,221 27,713 Prescribers Prescribers 1.0MM TRx Key Points: (30%) • The ~27K prescribers are within 15K group practices/offices • Reaching the 27K prescribers with an 2.4MM TRx experienced sales force and surround (~70%) sound of promotional efforts Source: QuintilesIMS Xponent - March 2017; excluding non-called on specialties (peds, pain, hem/onc)` 14 Business Update I September 7, 2017
KEY LAUNCH STRATEGIES AND ACTIVITIES ü Sales force of ~ 250 educating ~ 27,000 prescribers HCPs ü Over 360,000 sample packs distributed to field to date • Drive Awareness of Trulance and Stimulate ü ~ 430 peer-to-peer speaker programs, > 6000 attendees Trial / Adoption • Activate and Support the ü Launched comprehensive HCP media plan Rx Ready Patient • Ensure Access ü DDW 2017 – significant promotional presence; 6 abstracts (two posters of distinction, one oral presentation) Source: Company Data 15 Business Update I September 7, 2017
KEY LAUNCH STRATEGIES AND ACTIVITIES ü Trulance Campaign : Point of Care Promotion: ~ 20,000 offices ▬ PATIENTS ▬ Web Sponsorships/Display Ads: > 245,000,000 impressions Search Engine Marketing: > 403,000 clicks ▬ • Drive Awareness of Trulance.com visits: > 615,000 for consumer site ▬ Trulance and Stimulate Trial / Adoption ü Confront Constipation Campaign: • Activate and Support the ▬ Disease awareness initiative Rx Ready Patient 33 original media placements ▬ > 310,000,000 media impressions ▬ • Ensure Access ▬ > 95,000 Emoji App downloads 16 Source: Company Data Business Update I September 7, 2017
KEY LAUNCH STRATEGIES AND ACTIVITIES ü Removing barriers and gaining commercial open access PAYERS ü > 67% of patients with commercial insurance currently have unrestricted access; 2018 discussions ongoing • Drive Awareness of Trulance and Stimulate Trial / Adoption ü Trulance Access Support Services Program “Savings-to-Go” program: copay of $25/Rx for > 95% of ▬ • Activate and Support the patients with commercial insurance Rx Ready Patient Prior authorization support ▬ • Ensure Access ü Medicare Part D and Medicaid Discussions Ongoing Source: Company Data 17 Business Update I September 7, 2017
KEY PERFORMANCE METRICS
TRULANCE TOTAL MONTHLY PRESCRIPTION VOLUME HAS INCREASED OVER 140% ON AVERAGE MONTH-OVER-MONTH Trulance Monthly Total Prescriptions Cumulative Trulance Monthly Total Prescriptions 8,000 25,000 7186 7,000 19834 6262 20,000 6,000 TRx Volume TRx Volume 5,000 15,000 4149 12648 4,000 10,000 3,000 6386 1843 2,000 5,000 2237 1,000 394 394 0 0 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 19 Source: QuintilesIMS Business Update I September 7, 2017
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