CLPT - Earnings call transcript Q3 2020

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Operator

Greetings and welcome to ClearPoint Neuro's 2020 Third Quarter Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. Comments made on this call may include statements that are forward looking within the meaning of securities laws. beliefs, include company's statements both plans, projected management may industry to preliminary statements regarding and the projections trends, prospects expectations, forward-looking without of related limitation, anticipated and future These results or operations. estimates and strategies trends or materially. differ could results Actual no revise company future for or forward-looking new undertakes The statements information events. obligation to

Securities for XXXX. XXXX ended with before on go the report to the have on on at September conference the year for for For I XX, please to the refer XX-K which All XX, report SEC the June company Please website more ended www.clearpointneuro.com quarter been company's XXXX, be XX-Q sir. and quarterly the now December Executive Chief the Exchange quarter would November Form or Commission and or and XX, the obtained XX, XXXX, intends information, Officer. Form which ahead, filings with company's quarterly over Burnett, company's like may Commission and the Form XX-Q company's company's the Annual to Report from of Exchange Joe the the ended the on file both turn Securities to filed

Joe Burnett

to requested challenges, hospital ensure was support team. a every manufacturing and to our very of thank themselves return United received risk and it. many Thank you. encouraged third States. clinical elective volume the call. in use by in our pseudo to in and that patient case participating continue the our saying proud essential during rebounding of personal covered the travel here able field would that today's ClearPoint and to our repeated procedures, Brock you and like everyone in to I that start XXX are to leading be to quarter to by team cases I elective Despite employees we

hospitalizations months have move as and navigation, also pipeline have progress continued our most. when heads growth our therapeutics the We a neurosurgery even a sick in-house that and in started. than we I performance, which ClearPoint stronger questions. that now pandemic Hal over a detail growth very patients no the four delivery, our the I in in needed scale. global confident exit of excited position hospital kept we the continue much and leave customers COVID ensure to and By due treatment. we to Nonetheless, strategic creating very biologics patients in show continue all continue put drug be continue our up development us, in was we I'm some of three offered, number team our have strategic when Hal? to have call highlight to including and high we this to will last higher risk of before of answering along strategic all With currently across categories their have are our when to and down these pillars means pillars pandemic our that believe paused. the the uncertainty to all financial we after number we to behind to reduced surgeries progress homes X world make get to direction reluctant will provide turn to will on

Harold Hurwitz

sales retainers revenues. $X.X increase Drilling canceled product in of and sales XX%. increased of for system from X% surgical the revenue in period have Capital disposable drug to drug activity reached products quarter XXXX represents million equipment XXXX. in the disposable $X.X an delivery procedures effects of related service period-based sales customer and of and in for at in an million delivery continuing of $X.X Biologics same and for Thanks, or establishment XXXX, XX% $X.X of of XXXX. sponsored the biologic delivery of decreased pandemic same or to XXXX clinical yet clinical decreased revenue and with $XXX,XXX for biologic services the related increase down of companies' in XXXX Joe. This delivery for utilizing on components support decrease revenues outset the and the elective pandemic $XXX,XXX the for quarter respective that consist biologics hardware million pre-pandemic revenue, million volumes postponed functional have COVID-XX the quarter quarter which to period that and is of trials of in $X.X for to services at such drug reusable consisting resumed to the albeit and the from which software for software which Total $XXX,XXX ClearPoint companies reflects period cases utilizing commercial not revenues due third related This XXXX, were third neurosurgery the services XXXX revenues which ClearPoint in period third increase ClearPoint include to to of that same drug same primarily system and service additional million of the relationships were trials. for $XXX,XXX clinical the third XXX% navigation include the from the attributable of the

line in development XX% $X.X of to margin same from the cash as in COVID-XX XXXX share-based due resulted in for growth XX% other a of primarily gross Net of due convertible XX% the of company was gross to for for the in and varied to a Operating production have the now turn volume comparison same XXXX compared While activity the specialist revenues acquisition of of a an interest shift of the third primarily in capital of prepare of XX% which I notes from the by third XX% to secured margins XXXX January XXXX. XX, the compared in to period by interest repaid were primarily effect and the during believes to decrease company's due research increase many September This million. the was million, for revenues, sales marketing call administrative increase Joe. that the other increased for XXXX. the equivalent increased XXXX the increases This quarter-to-quarter, XXXX bear margin of primarily this $XX.X $XXX,XXX manufacturing in and quarter in for in decrease COVID-XX reduced a departmental case that due the postponed expense which sales was amortization higher and to expenses the line XXXX. company-wide increased XXXX. to quarter to which on same the June allocation due associated notes achieved service the compared to increase quarter total and a increase back business hospitals due balances the have of period its product project pandemic. in the increased XXXX. we resources XXXX pandemic. the were primarily for product team was retirement for in and $XXX,XXX $X.X line, XXXX expenses a of and gross costs, of the to third $XXX,XXX contribution Cash revenues of the XXXX. of Sales third and in in mix to from to reduction retired we will expenses activities headcount equipment comprised discount in for historically Company same with of to quarter shared notes with to the general in clinical at increases representing And was greater activity. relative million With period XXXX. in expenses compensation of headcount increase a period an loss XX% issued of with period $X.X operating quarter and Operating expense repayment due for XXXX, that, which first with same substantially associated quarter the third million The offset anticipated This

Joe Burnett

Thanks, Hal.

a we progress third particularly the of record now we a thrilled progress biologics I that able additional little saw through and new show detail with are where COVID our four-pillar were drug the diversification challenges. revenue, will in the in toward our financial about space, face add We progress in where rebounded into related the quarter, to delivery to we growth.

cases in pillar both one, Neurosurgery saw of and to For rebound almost revenue. XXX navigation, million pre-pandemic levels revenue $X.X we number Functional and approximately cases

COVID-XX very moment I As staff as quarantined not cases in COVID lost well the behind themselves. cases hospitals and overwhelmed we highlighted the earlier the by fully at being have hospital key due impact call, us to hospitalizations, some in of as is

to to expect a March operating in shutdown use when this patients While continue we of XX% readily pipeline On for periodically reliable we to is full do continue did new expect months, In are to the market hospitals. the our at successfully additional currently XX% our of be we tools. products. rooted not our high-risk we available. and back a release certain the expect last do until standpoint, however of navigation for some itself as close year, in estimate would pandemic that not three vaccine a to where staff April about hospitals had case best open we progress a full and We we is of entered saw see and sign two hospital on time

safely by them the had a and First, on enabling frame rotating pending procedures before two thus their enables trajectories further patient existing easier over, our fixation making back workflows faster inflection which day.

tissue, single target. steps every device multiple French allows effects allow expanded benefit an larger kits and entry Peel-Away the our healthy to sheet and risk you Second, accessory This a through a X point the hemorrhage X path brain to have offering devices historic these French a for channel X keep This now side sheets can important a that and kits time by kit. additional to French of open is to our create because an from you procedure. complement we

to will We of are the these of evaluations the expect able significant that we product new not introduce allows has And also sales be by next to evaluations encouraged and months, subsided sites next budgeting on year. we end it six again portfolio. do while to the get that process new the to over capital three us starting somewhat by close ClearPoint freeze the into rest hospital's XXXX back capital the to

For enrollment pandemic COVID biologics biologics we've Again, trials, impact and as pillar on the has delivery, XX new approximately drug began added additional as globally. customers an certainly in starting five these and had number centers resulting in two, partners. active since well

is that made into All forward we progress exploration in clinical to the faster future. one business cannulas, biologics custom incorporating into stem growing and all, formal the for delays. custom pandemic custom and tools therapy developing space However, is despite cell these our the needles gene pillar we software have going the than look expected and clinical these in

For successfully pillar to in Neurosurgery. system we laser CLS partnership CLS products, for outside Mark by number be CE earned three, encouraged their continue of TRANBERG therapy the use for our with Sweden.

partner delivery. improvement gross And grew us our while cannot significant quarter global Mark XX%. on our that Europe will this countries for to an we us does experience that number team see it field pharma potential. of hired based begin and in present be undoubtedly margin as allow for drug we Now will continent. not not support tumors, us meet you body to to cases biologics or any have disorders finally, Europe This get achieving continue investment team begin begin be our cases can that the If strategic Europe, our and does partners to do CE successfully has of and be now we viewed This with in that members to to include treat able that time in a necessary protocols, ClearPoint their clinical allow us today extent, is scale; education. impacted necessary are in the but in our do for other premier Europe. Furthermore, the study we as for to supporting allow who system our full a will neuro will to clinical then OpEx the believe active some four parts first right pillar presence and to allow to team the is see into can biologics you similar

would capital sales, quarter-to-quarter Now a while and services mix possible razor/razorblade it now disproportionate indicator that does of surgeries of sustainable as up of million right do might our that's I clinical With model. the that will the for any it year. to revenue call we here think to we margins the a to shutdown for between open US and massive good total, believe the think disposables the million razors reflects that In a that, compared in we not I barring provide in hospitals questions exit elective $XX.X like participants XXXX $XX have. for the with

Operator

first Thank comes proceed Please you. Securities. from Riley today question. [Operator Instructions] Andrew B question Our with of D'Silva your

Andrew D'Silva

I'm is trials could you start be that's you it in trials clinical as you're and your any revenue adding possible partner it it rev you. mentioned very translating to capital therapy quick is new then is get then has when any breakout I if doing is first that's front, mean - Hey, around service and equipment? cadence, many by clinical biologics how product an much. five just how thank while To involved a relates Joe, is glad into clients, a everybody And that, bookkeeping drug for to thank obtain currently, you And how give there a color color as it delivery? a break pulling category, few biologics me. good and/or there expected relates breakout going, I'd approval? to questions been curious on to and On for to really how is well, for a hey hear

Joe Burnett

Sure.

with start new addition the me Let partners. of

comments what say began. we if about - I situation the the made since COVID you we want think show that five I relationships additional just added to

and with deliver the received next a of foundational so So what to much or is how actually now has just time, that start itself themselves six that is has along the or mean do the Many themselves I it. is formulation as well moved take. there by more the every a or in step about company the sites these funding we or their cadence of relations one weeks in of give biologic

begins common the point up of us. from we have, they and number that regulatory So products services a consulting has calls our it actually at or customer with when that until it's accounts purchased progressed of shows normally very relationships XX least on the and calls where some a have

do experiments purchased maybe placed to first to that but they've to asked cannulas data, point. us Pen to some their maybe transaction get viscosity at experiments them, least - preclinical So effectively they for hydration place has do some or taking

take imagine does clinical can getting to Now, there a as you human generally from patient some time.

constantly I began believe have we're right products of can last ones those trials, our process. doing the in since least away. let's think So clinical the fostering what in relationships six think all I I been months - the two is so through that additional COVID anyway, used of say at in

him I available, and you the Hal ask do Hal, can't him. of same appropriate again However, are data our as in so side. kind partners the we try look request, have location, to sorry sometimes point. That's it of we of do listed necessarily confidential I relationship because those not an by the until in we any and biologics the are not where keep chance on eye we any

Andrew D'Silva

No mute. okay. be might worries, on that's He

Joe Burnett

Andrew third Yes. was too? then, can you, for what Hal - question a why there waiting was

Harold Hurwitz

was Okay. mute, on Guys, I apologize. I

Joe Burnett

Okay.

Harold Hurwitz

that revenue Andrew, I that delivery. the it for say, very laid the days, substantially XX-Q was release couple in on a now by of be but and statement we'll have of service to out accompany say drug was suffice income all press filing nice we'll see going that table the that biologics to represented a in you the

Andrew D'Silva

Okay.

relates product capital wasn't to much it either revenue there the therapy was nor to in or relates as really revenue or as products? equipment to services services So it much regard there

Harold Hurwitz

that substantially delivery. all of bit, There biologics drug was item line and little but was I as say, a

Joe Burnett

could we Andrew, buckets, hiring support drug the and talk company in handle clinical it. that biologics flavors services and could services two common so include is of most the when and so or type about different of us a cases like clinically a their one services. delivery, things two infusions to of of again things, this side involve that, This number trial that's co-branding or marketing that one sort of design pre-clinical support, or

that software. into is side second products developing fit The also custom or us would biologics

So a some launch. case their develop do for application hire specific an trial commercial the that us to or during someone in future either during might will their feature

So delivery. of two drug line those the and contracts what that biologics in When systems that types exist themselves. are see services the is, a the service capital, is effectively generally support you in to service

not which the and would a replace service contract, warranty in system break it's and if customer So the field we at were would to purchased point it. have under a

you services really that So that's distinction see. between the

Andrew D'Silva

the much least I at obtain asked very first then was All just discussion any of thank for FDA you an anticipated would right. that to for it previously And your partner related question when had to Great, approval? clarification. last be about

Joe Burnett

always partners' that. available least in on do that not major I publicly in the of in PTC the recently approval, a at if they believe communicated information of rely somewhere example commercial has are I couple an some expecting as geographies. world sort of to a XXXX answer

also very out it's as again patients are very that if disorders they their think look rare search well five these think for I that sick for pointed on efforts countries well patients initially they begin. targeting have you important number beyond to I that these beyond and gone And or countries core expanded were to patients that. of they six start the that will,

treated commercial patients in certain possibility these under which a get they whether a or protocol certainly used under actual get approval. treated countries, So is compassionate the

be our same cases each those would of support participation in Our day. and the

Andrew D'Silva

are to this on channel earlier, that ESK right thank give is contract little that evolving, effectively how now question, developing customers you that they with this right that but as around discussions like my what for possibly And Can that. maybe you're that going last did sales utilizing did forward? aren't organization your could you mean you in if relate now. what clients color maybe research see it you that and a function, Okay, [ph] you talk

Joe Burnett

I benefit needs understanding their working of across all them. what mean have and consistent the are XX and of with I think importantly again Yes, companies different we understanding most needs

each pre-clinical added the contracts ask that if also company just A design questions be then mapping that and not a experts bench answer the more doing. testing, that's that, of accumulation different knowledge side, to our which interested of something all specialists things, device with whereas of the to types the field, those in actually with provide wheel trying rather can we that can but the grow is injection, which and as the we're the are begins the in provide. and very recreate the doing think we're in of capable an and same biologic of lot So set than many preclinical and tests certainly testing infusion, every into clinical team of of current service, it I fact skill of we side and need that

So cover lab, have working work. be company specialist to creates in really for or two might a then be and the the doing on clinical some of to one assignment additional a able directly next leverage the bit with week it they quite us three week cases

service the it invention now for get hopefully out would customers we provide So, doesn't that something have I base that additional this I satisfied think is word of will we an grow us can to that's that it. into And require think where

Andrew D'Silva

roughly about of utilizing are many the how that out right XX? And now

Joe Burnett

the cannula, now. flow half number of a earlier they software say actively through call the to to at level, say task that meaning viscosity we're XX% determine of are with some There SmartFlow to a companies some than similar targeting or but top is I'd software. more right the least brought bench on rates there, working that up I'd using so

Andrew D'Silva

back Okay, out great. luck and for snap closing much Thank you answering questions. my very the on Congrats the year. good

Joe Burnett

Andrew. Thanks, right. All

Operator

your of The Please Brookline question. proceed Capital. with from Yanchus next question is Sall

Sall Yanchus

was have Good, do quarter in sequentially up call, in are third How a you I from is see to $X.X level quarter you? continue holding question expect to a for Joe. quarter? fourth the I how for million, thanks. first Hi, lot good, the the Thanks probably the that R&D

Harold Hurwitz

The increase, expenditure levels, yes, the no. rate of

no additional additional of additional due the mentioned, of increase projects pace. I were was the I and rate that As increase to for heads But hired. primarily people which don't at those rate see nearly

Sall Yanchus

the be in probably It it million quarter? - should $X above will fourth

Harold Hurwitz

my Yes, be anticipation that would - be anticipation. would my

Sall Yanchus

for Okay. then are don't names Gene And the the I are you release the you of going announce and to or… delivery who company Therapy, will know, Joe, new drug customers

Joe Burnett

as when to of yes, when but constant indication. as very these same an might appropriate you the especially I technologies information dialog we're going in after piece of We with mean it's our strategies, to time a companies and as is, - proprietary know partners be many

So follow announce. they're we we when with really lead to their that's it, and don't when would comfortable like

Sall Yanchus

so see Okay, rebound a good. questions. you, quarter. thank I'm to right. Thank All Very Well, no you more glad and the news. good third in

Joe Burnett

it. appreciate thanks, Yes,

Operator

The Okay. question next your question. [indiscernible]. proceed is from with Please

Unidentified Analyst

laser have solution going Have and you the about complete launch. impact Hey, that's margins? guys. a you how I disclosed guys revenues expecting are to that to question

Joe Burnett

be believe a to that the not launch, razor achieve - have the believe that to similar continue do what but we be the be maybe at and disclosed XX% is side. we model not on it of laser margin I margins directly to blade razor/razorblade able expect should I

the then laser side acquisition. our as and we'll be into fibers part generator, so selling really a the we're exact both of higher that same has case, really to technology our the replicating, the combined margin the system razor so our the run our disposable similar So head as because they computer, similar it very that laser well marries be well itself software, of will frames has on new kind becomes navigation

Unidentified Analyst

you was is do cases that of many impact? if roughly to cases number I the would guys how now So that look right at

Joe Burnett

are laser of than our XX% ablation about So higher cases. today, maybe that cases bit a little

the see you'd to and a anywhere I XX you just lasers per case think So even revenue capital going more on you're the $X,XXX per impact at navigation from depending system it itself. what our how if from case of itself the revenue, the just up case or be, XX in you would they out the effectively for about again, looking about use and during if mean, to many think

case opportunity So revenue we're getting that today. what particular in we're effectively Xx versus or Xx

Unidentified Analyst

Okay.

So that's…

Joe Burnett

for of course of of every base That's to to laser. one to Monterra's users cases we're But got going needs the again development to in the existing that treated, our support our laser to be cases whatever we've related there to continue them. continue patient us we're do in be not support going developing dark, switch with and today. We're this assisting of relationships procedure neurosurgeons they're the product active this

Unidentified Analyst

Okay.

estimate that were revenue? result XX of all that doubling if roughly one-third now, it would would were roughly So in just if - over to to versus be the roughly in new your you - the portion of say how right safe to impacts result laser would to cases revenues we switch

Joe Burnett

if I we're that everyone I that That's that be yes. correct, that think would switches yes, currently think yes, same conservative, that with assumption then with working

Unidentified Analyst

coming other to those own? solutions if use compose people you're What with your dealer the in

Joe Burnett

I to compete for every number we'll just advantages certainly we those. and that streamlined have and and a would think one there's what have each of each of

solution be designed used is it's specifically the faster I think all simpler to way when and navigation with ours especially it's going system. in our that a above concert

clinical case. the one now success as responsible for that well as is workflow, entire one got specialist the you've of So

like person procedure. have found during think - over have of many complemented to is really and over sort well. So as responsible the don't one that We off same outcome. offer assisting hand They'd I again on two they surgeons people we us priority because no being that's there for and like the that

Unidentified Analyst

selling Okay. approved AADC potentially And coming to the But platform out of know those in the they're patients mid it's next questions going are for you patients, your Europe? treating about estimating year. launched one are the and how be would that then Europe they to many guys would mentioned new and I sites of be be in Europe, you PTC, have that you I trial that's in

Joe Burnett

as the Yes, we COVID actively as training mentioned with across contracts process, hired working certainly correct. made a I evaluation used excellence. first we of PTC number a that employees. we That's are have actually see it being centers to we centers the go European call, Europe on so earlier difficult little - but more through and in placement our of

the with to preparation cases sites biopsy get be stimulation and So either or ablation. deep familiar those brain ready doing tumor or

So very is in case that that sure some they first with AADC to with do product. have kids is and had to our team of just want that's not these present a hospitals experience We able deficiency. the make assist, the there that themselves one not but positive

Unidentified Analyst

Got you.

Okay. And then…

Joe Burnett

so far. and COVID in or one one-month it's put hasn't for would To hit, we if perspective, it I delay imagine centers already would have four five directly European active

Unidentified Analyst

that that, I is do are some the of was larger are that the next trials question over meet I that targeting the intend XXX,XXX know the to had don't if is capacity goes many up you what you to place scale scale - then how into what's guys you kind you sites of So on have to guys there at you're cases like you a disclose - patients, can do with XX how those? doing, plan particular and up in that

Joe Burnett

it think two - would I I in of stages. think is there

the is is number to a to any to ramp going be meaningful volume. first stage So one, get up there

patients patient related all process these to of really refer if clearance, the even even of the way first outreach education process neurologist get they FDA still tumor of projects, and to even sort if to is in disease part. there still the Huntington's able to Parkinson's, of larger the the be to So surgeon get reimbursement, there's

So switch and of it's a bit definitely time. little not takes it putting

as three But always for we're of it rare it work math we four really, and and to filled it that, going to need hypothetical what in around that yet day like. first could procedures I as centers a a undoubtedly year scanners mean do for it in kind the really to are is active least those seen again is our the turn I like commercial volumes floodgates exactly what investment we in real, we way. happen MRR, operating it's can manufacturing only of of going about. of just and iron that That exactly types these we probably the imaging the disorders with be and is will not which XXXX at co-owned trained becomes be Tesla the a either that However, that what want doing be centers it's less room those sort is surgeons line. of future to locked think focused, by actually for the world a could could already thing I talked centers it you companies MRI these or be world next just appears fact to though then - scanner like type the And will ventures more gets are, open is what be do, create group And and we we're importantly, be case lean that we've and well. we for that X.X all a the are to excellence that and as most the of who us the clearances, tighter think Neurosurgery could mean have or it some excellence this are problem. doesn't that seven look but And I is where companies really do case, lot type of think of solve big a these reality up to some doing right rest how the month, or and in reality XXX and really don't today that's opportunity to centers it's a in good concentrated even to procedures. of one set remains an partnerships use scanner or demand much Tesla if joint need almost going ourselves, this etcetera, with also there that of

situation done. Tesla mean neurosurgery these that I have then even the you future to or a to they So five procedures hop where on can and might you become older get a center plane excellence of travel referred and in place imagine scanners the maybe get X.X a

Unidentified Analyst

got Okay, the That's I have. all questions you.

Joe Burnett

Okay.

Operator

The Please proceed next is from question your question. with [indiscernible].

Unidentified Analyst

for the Hi, question congrats landscape. two results. quick I have

The is, this approved, news confirmation question for would and they ROSA announced first that your expecting their to last of I it's away, My wanted Biomet, just your Biogen comes one one, if rules to the can solution rejected, were the Alzheimer about the your I be online. release what's in your the have next Thank the be they're if couldn't what FDA. on versus by is they what have would the ROSA reaction see the you take Alzheimer's of long-term solution? you. this that solution, next the know FDA if what's reaction year And effect you your say approach?

Joe Burnett

for thanks fair, the Yes, questions.

robotic that of we procedures platform not an too. most is annoying by There So, what replace one, is lend the there we own what ROSA be are a example robotic parts additional to level, to a certain well, simpler to is replace the to which albeit to and as robotic I'll our with mean procedure. related building complementary that of does, start platform We the better parts to robotic the time-consuming that much the everything trying ourselves clear, we're Medtronic trying surgeon we're at I do. versus sort what types just Mazor and first the of of certain as very see indications platforms out And are that. platform. And

actively only - something along our to put ClearPoint of something to with need for two, are agent use brain brain the of you But and you that's types then stimulation, of it things. doing the platform. to three, those deliver a or a it can ablation four perspective, like kind therapy tumor, in in laser we trajectories, the deep if some to that maybe this target inside So for this need an is can do use our is MRI you tool, a magnet, you

of trajectories, access in think after time lot sense. workflow and you're that's to or where a magnet if we're - So two makes going MRI to our the I go three

going to in epilepsy now an and in something So and for place the you that patient be to that wouldn't to have an EEG terrific would our something like is patients compare next use the because head, record certain something specific level the in that ClearPoint application you're for a - situation You use drill there stereotactic likely never either. wait you procedure where way right? like here's for where no holes think take precision okay? you it's MRI like ROSA technology about at over and a patient, actually electrodes three XX of you and these doing to That's place depth the weeks then seizure

see and the today in we another option. hospitals say robotic both - every - another the I'd hospitals all one single Medtronic of are So almost have us that we're

or they at are question. like how on I the So first anything that's it's completely that not cannibalistic to say view that, least but

Alzheimer's, as question get disorder where one second the to to really a it manner do we about place. specific So think where region lends The things is if pertains brain possible, that itself precise we functional a a in that disorders, it's taking to again therapy of target just the as well is the okay? very you

a research is Parkinson's the target an Alzheimer epilepsy there after global phenomenon. one So in seems patient a originating generated you're location, indicate presents. generally on to going patient, specific a that more something the seizure is much in how patient the based all in is

would in at as brain something from more something on brain the to least likely could a agent target. delivering that bathing to side the opposed an it's impact treatment, come almost the one pharmacological entire that like So

the are of most work work on we the more our in been while some of deep functional side active Alzheimer's, disorders has these on in treating today. So brain side pharma stimulation

helps. that hopefully So

Unidentified Analyst

thanks. thank it, you. Okay, Appreciate

Joe Burnett

Fair.

Operator

next your Group with question. LLC. is of Please Henry The proceed Melon question Melon from

Henry Melon

done. Joe. Well Hey,

Joe Burnett

to from hear Good you. Henry. Hi,

Henry Melon

snowball what that would - one. was a like I likewise. start patients. as about, Yes, with PTC, I wondering approved. gets give identified like description on this that the launched of it look if Can PTC you you does get the on AADC you that numbers? XXX a could effect know me color kind When shed as is of kind said far when talking is they've some

Joe Burnett

I can, at can I that. perfectly can so can do least I add yes color, for more - I

Henry Melon

control because XXX and launch? identified a these of look that to kits far not like that's course, understand I but it You're disease as the I like you've - in dire you that got or realize but of as

Joe Burnett

where to the treated Yes, I some these no, fact against and, a years in I clock that development missed and opportunity added for right extent, clearance after children is that's lot these think and of up get not to the think of life get some the X as cases, then well. children are a extending

treat that kits I far, as So just really there of today. think sort is because through it's alternative there so been to do the to chance have track processes, the not of be these regulatory would a fast some no

the first becomes reason on that this to which the certainly science how regulatory the I think etcetera, for on the Once helps it already So of that both it's procedure talked about available. for, etcetera. are is the and treatments we've delivering need likely becomes be like the is paid one another that's question therapy, good centers and side capable to of available

[indiscernible]; excitement PTC how make XXX, want that treat sort it go is not getting believe single there of I I So think I the many relatively gene patients I the patients rapidly. said a do of think you the will count therapy mentioned, that to don't and neuro to through again, will rush queue these approved.

to undoubtedly some the it at treatment it appreciate didn't we go be the find through first beginning. going possibly to first will that which this challenges is So first be the

Henry Melon

you. Thank enough. Fair

Operator

[Operator Instructions] Please your is question. proceed Our next [indiscernible]. from question with

Unidentified Analyst

up I have, in many those gene late Phase other of meant many partners take those to But to of or I therapy? of you be time. you didn't just your in ask guys, that Hey, would trial stage, how so question, want this consider then like on much later? And too II to how are the

Joe Burnett

it's it through gene but stem can me, there between the XX% or side, today. I It's gene pharma of if XX% say and let certainly things a or navigate in somewhere on would let's a XX% could traditional give be plus cell specifically of good mix that, on, the other I question, therapy take sort and therapy say like

II, a the of as the Let that me would themselves, than III, would see I handful of stage Phase are say I trials late here say. less actually far that Phase in and timing sort as it's

part multiple goal. I walk have partner could this tricky that shots of them one through potentially one the Now sort on that is

Angelman is only example other sort rare also for company of Ataxia on making they're a AADC, like progress So PTC not working inherited and on syndrome disorder.

or that have might two call So for I we example. one. think what less But there for three in that is later are stage one five is partner or trials would less probably reality the

indications the looks on Now, the some Phase of we're is to like. mind depending after need of what or Phase application II Mike keep that one III in a things the going not might

example the so that trial it's not III there use to like thing that mind. a of the compassionate really Phase phase more first for in data enough the to already a alternative, is might commercialization at chance, AADC standpoint for could give these again require be So keep something no that's other in for least collected give and

Unidentified Analyst

trials guys Okay. SG&A? partner stuff for that ride by after done and essentially trial heavy that all when that FDA is you it question up other change about just does the like then along then lifting is going of it's of or approved expect do so in the of are bump the kind marketing say and approval, a all into you expand How one to SG&A, safe assume had actually And other I pass and these couple your let's them you through

Joe Burnett

think a one. don't I significant

the mentioned in put some case to many these many treated on a there, to It's cases patients a cases these as need do urgently. well, of in per impactful the going saying, that thing that to one specialists it's think support we be of you on not is sick it's the are SG&A spend I themselves, and in the because because week. cases can creates really I some but that cases there clinical again to calculation to have most quite geography do very simple expansion they're report some street feet really Europe, to one

have So need to capacity. excess we

have always we in an can someone So emergency. fly we

in So, but but companies, a from biggest where neurosurgical paid we're said some that's community. I the you the the looking really like and to reins other take SG&A of is beyond is our by think above for it marketing standpoint,

in will So, molecule work with if neurologist we you setting, Functional think be we've they that Neurosurgery that about so all has go to customer their primary ASF necessarily and wouldn't there. small a historically the Congress we companies a these been listed

future example we not of doing where so thing that to don't that of is like So, you lot a think likely. like I can sales have lot need already we us certainly it's side, true that but the into partners super is meant response then might not think see that, hundred know an centers United the and I we co-sponsoring a it's high-volume an on like do looks you exhibit sales opportunity more things an that I anchored and procedure some as either the is hospitals. cardiology have don't massive things our a an sponsored them, but be important with in if as would symposiums excellence of think earlier XXXX And heard I a of something the addition. because this I the There I massive are organization where States centers or

much have need So of be of the we that accounts. larger sales able to team we today number to sort a than don't team cover

Unidentified Analyst

or is potentially focused just even core, spine that prostate know I the was completely still too guys guys And it Is on the into to neuro are road. and I so have mentioned All then the down think off you you right right. you. consider far now? side expanding Got this

Joe Burnett

you've for The we spine not have laser work the do role the now, CLS for right for that some need a some There in. for and and we and neurosurgery pretty license priority spine it's similarly tumor Yes, cranial work that certain the highest includes both ablation before example, we've but in products laser partners cranial say spine. think have play heard I acquired a us. done that prostate something is definitely with it's to I'd biologic that is much

However, out it's CLS of laser it's sell core, not own. sort the us outside on will continue to who their neuro helping strategic and their of market

mean I worldwide. what So, own we by that neuro license spine for and is the

you like also us signed a prostate for said they However, North distributor as in America.

our the in design kind support of cases and installs really clinical So kind not clearance helping in that States. trial team of still or does United marketing CLF that CLF sense, do leveraging and we're leverage have clinical to in and facilitating by not involved reimbursement space training. prostate them or But we're in has we what

much we're doing today So we're it. with not really

Unidentified Analyst

Thanks, again. great. Okay,

Joe Burnett

Okay, sure.

Operator

closing I this would call to no time, at questions are additional to like turn remarks. for back Burnett Joe There the

Joe Burnett

All right. Brock. Thanks,

daily their work thank your that interest surgeons times honestly, we're as of and We support to you thrilled ClearPoint we entire some helping patients with you and the always on for patients all we are and a the and team, because ClearPoint basis. your of of a darkest us. we're families here the are have including at serving As during we know their part this journey

questions any Thank So, in feel to thank with you. please future. you free and out very much reach the

Operator

conference. today's concludes This

You participation. time. for may lines disconnect your at Thank you your this

ClearPoint Neuro (CLPT) 11 Nov 202020 Q3 Earnings call transcript