Idorsia (IDIA) Evercore ISI 8th Annual HealthCONx Conference summary

Company background and pipeline

• Founded in 2017, leveraging a legacy R&D team and pipeline dating back to 1997.

• Three approved products: Clazosentan (Asia), Daridorexant/QUVIVIQ (13 countries), and Aprocitentan (US/EU).

• Three phase 3 assets, including two partnered with Viatris and one (Lucerastat) for Fabry disease.

QUVIVIQ (Daridorexant) market performance and strategy

• QUVIVIQ is recognized as best-in-class among DORAs due to rapid clearance and minimal next-day grogginess.

• Launched in 2023, initially led NBRX with strong detailing and promotional campaigns.

• Faced challenges in the US due to payer negotiations, late market entry, and Schedule IV status.

• Shifted to a limited omnichannel model in late 2024, stabilizing revenues and improving paid prescriptions.

• Awaiting a class-wide descheduling decision, which could expand access and retail pharmacy availability.

Regulatory and competitive landscape

• FDA analysis for descheduling is complete; currently in HHS clearance before DEA review and public comment.

• Class-wide descheduling effort is in collaboration with Eisai; all DORAs remain Schedule IV.

• DORAs represent less than 2% of US insomnia prescriptions, but up to 30% in Japan and 5% in some European countries.