GNMK - Earnings call transcript Q1 2019 | GenMark Diagnostics, Inc.

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Operator

Good afternoon, ladies and gentlemen and welcome to today's conference call to discuss GenMark Diagnostics' First Quarter 2019 Financial Results. My name is Josh and I will be your operator on this call. After the presentation, we will conduct a question-and-answer session. Instructions will be provided at that time. [Operator Instructions] Please note that this call is being recorded today, Tuesday, April 30, 2019 at 1:30 PM Pacific Time and will be available on the Investors section of GenMark's website at www.genmarkdx.com. to meeting like Salvo, to now Relations. Investor would turn over the Leigh I

Leigh Salvo

thank very you us and Josh, Thanks, all today. much joining for

certain plans, may forward-looking constitute Before inform statements. performance, Any during would are I our forward-looking or course statements expectations, future about that or beliefs, the call we GenMark assumptions made statements. this like of statement by objectives, begin, you to events

financial new For commercialization and plans concerning example, XXXX operational clearance, management of our development, We believe of are and the objectives based these features trends statements all products, assumptions. statements. guidance, and regulatory market are statements and reasonable on forward-looking

to filings are conference those in expressed which and guarantees uncertainties differ could cause such and implied be However, performance and to materially to from update Hany from results in GenMark by GenMark’s forward-looking factors, of are I’d to duty or may statements the reflect to call to disclaims not forward-looking President circumstances of any the to these reflect now future assumes and materially Hany? unknown these or statements. different results events risks expressly CEO cause involve known detailed events. Important or that statements with turn results GenMark. occurrence no after any call any statements actual this obligation over unanticipated actual SEC. occurring Massarany, like the of and the

Hany Massarany

Thank you you, for Leigh. afternoon Good and thank us. all joining

Officer, Ek call on -- our Financial Johnny me Ek. today John is Chief our Joining

review call innovation Johnny remarks main progress on continuing operational We'd our and pleased for pleased I'm then provide open brief I'd prepared of all fronts. line call XXXX margin results. for start represented growing for and growth which update our I with important specific and recent top on by Operating will details to strong ePlex to on to progress Starting revenue very of and while Chief the first Officer, today, gross Scott to our like $XX.X made I'm XXXX, our system. highlights. advance with placements, Mendel. revenue performance priorities questions. our quarter driving And start report conclude a call the primarily Scott with our of to quarter will our quarter our ePlex And product the operational Johnny. our was then an last revenue your financial million. On the our and Sorry, which like QX in improvement, included, guidance. financials XXXX, highlighted ePlex we've million, first that $XX.X the XX% momentum Total excellence. or with driven

both, our we severe the in of in first commercial season team and quarter compared revenue the Importantly, flu growth total when exceptionally delivered to even XXXX. revenue, ePlex year-over-year experienced

We fourth of sequential These of strong and revenue XXXX. respiratory platform also our of saw ePlex results panel. quarter growth pathogen XX% ePlex market versus the the adoption highlight

shortly, As progress efficiencies the also in quarter. good will more manufacturing driving in first detail cover Scott we've made

our in achieve contribution years. the activities, ongoing plans over quarter improvement in remain margin, meaningful XX%-plus ePlex important result, next turn that we a a As gross three we confident made current margin target and two total of saw margin an to on Based we can gross of which XX%. gross first our to

of On XX%. compared base installed a of analyzers, XXXX the the ePlex QX of of XXXX, global first an with commercialization quarter increase front, XXX XXX in ended ePlex with we

rapid the that of continue strong to value see our market ePlex smaller near-patient continue molecular the of some system We as adoption well as of by highest-volume labs, realize testing. to testing hospitals

quarter. ID were drivers in important testing Culture of the sepsis ePlex to placements Panels and Blood first Our differentiated approach

ePlex new majority execute on vast the conversions leveraging international to the drive our company, continue volumes drive are we test now growth. partnerships our our placements and to of of us. most expect U.S., behind We Outside to of strategy as XT-X these distributor future to

in we've reach our into and made and also In us Latin Western core ongoing broadening the Southeast year. East. and in our markets, later recently initiatives progress European that success good Central Eastern Middle of ePlex the America commenced launch parts could addition this help to We've Europe Asia

expansion. menu to Turning

availability available Culture of delighted We most diagnosis molecular Pathogen to for believe Panel, of antibiotic ePlex market full U.S. $XXX market the ePlex our benefits and improve provide Fungal globally. that solution panels Gram-Negative be Blood Pathogen bring as ePlex sepsis. could which market marks FDA to Panels. and the to Gram-Positive are the the delivering bloodstream We the comprehensive as our panels Respiratory This panel, designed opportunity BCID our Identification the while excited clearance for of infections, to genes our million lead to can to management customers. and coverage around broad organisms of and suite potential that These large commercial with officially in we for be Panel. including test Gram-Negative, recent economic quality We're market the estimate resistance BCID the our

and contributor expect our ePlex be to assay key BCID XXXX sales. performance, We driving a to placements both

to best substantially accounting our years. previously significant important U.S. step must the annually sales experienced molecular over communicated our sepsis billion also today we highly to an and expectation believe the to our commercial our recruited ePlex taken realize in couple than Looking our of testing to I've next executive ability I'm than and sales delighted of over pleased that next years have we've direction. joined in years. execution. a leadership current opportunity. respiratory lead and invest by roles commercial and we panels Life leadership and has runway growth potential force Scientific more for that with sales, U.S. multiplex volumes, With Thermo share I'm has our execution. increase $X.X test he more that share Senior background force. expand To believe us to to Mike we sales Mike at exceed Vice ahead, XX% an Fisher leadership disease our to impressive we Technologies teams in President in solution market, world-class sales recently we remain continue differentiated positions several of nearly for this, the revenue an led for Prior which joining XX provides its commercial to accomplish Harkins XX% held where tremendous announce team and GenMark, senior confident the to this as five strongly successful of bringing

Strategic U.S. other Gleeson this margin I'm In of years Mike of as and platform nine differentiated group competitive the as integrated ePlex led proposition solely across our of the as well confident drive also the to will of our and placement, his all excellence. continued commercial and in commercial and our performance for purchasing our advantage a organizations to beyond. build highly new quarter now our almost delivery who testing. this establish business over strategic priorities, role team Accounts. accounts. With Senior At delivered lead successfully I'll Scott? molecular executives strong operational sales confident revenue growth and value Scott improvement, call the force in XXXX addition point, In long-term of Corporate our that Mike Mike choice in Harkins focused in is focused operational role, segments, results to President product including the summary, his system investment innovation team, and Vice update. networks, and will has and I'm partnerships turn team across ePlex customer major most of another including further for operational as gross on excellence

Scott Mendel

highlighted development It's are our we're focused patient innovative our manufacturing From a delivery call, very and ePlex include quality on platform also integrated needs gross focused last margin ePlex help and on as priorities which start of productive and Hany. diagnostic as And, customer innovation. quality to XXXX, a you, perspective, product as improvements. meet delivering course, the efficiency menu been organizations outcomes. on and expansion our software well improve highest Thank driving molecular to our key solutions manufacturing and product we most

FDA teams processes menu exceptional all review now with for received targets and and proud the focused R&D across panels are future all have on our to gene with capabilities panel top did developing These clinical clearances and the priority. pathogens submission the resistance are and regulatory GI we submitted Our an teams three ePlex being panels. throughout and collaborating job, BCID technology

and update forward look menu important complete delivering specific progress on as milestones. sharing on to our are time development We we lines internal our

XX% improve can seen impact to are efforts manufacturing compared well of be our first versus with as since the when ePlex meaningfully prior year, improvements very improved as expected, revenue, first of first this to This results compared quarter revenue. in our quarter accounted XXXX great quarter ePlex delivering quarter gross already efficiency which of prior The XX% is margin, for quarter. first encouraging XXXX. year these As only

the were manufacturing key QC. the we've the final manufacturing scrap process improvement? Exactly strong reducing communicating; our of at drivers driven ePlex cartridges, of yields been what what improved throughout So by and

initiatives teams Beyond manufacturing also specific efficiency cost and cartridge. direct process, to driving improved reduce direct our focus entire our both material on overall cost are per labor across and the yield

output known tools have are goals opportunities identify and our and to from to to management improvements. and our monitor manufacturing lines down technicians practices top of organization production We the the established clear well on drive utilizing manufacturing

by ePlex to past being overhead years absorbed capacity that our decrease made cartridge as are over to the cost scale couple Lastly, volumes. of investments manufacturing we've per the now production higher continued

progress next to a the on gross towards of as XX% full forward now XX-plus but results margin to additional updates additional I'd over our of like gross turn still we the achieving target years. We to the over to yield achieving first three to we year achieving our This review and cost-reduction continue continue for improvement. to ePlex of improvement. we're our year Johnny I for margin two strong make to room XX% call to percent providing to financial look and quarter. our have drive goal for committed track remain goals

Johnny Ek

Scott. you, Thank

year's Sales revenue. was this previously extended ePlex test as in vast to to routine ePlex menu increasing number quarter $XXX,XXX. revenue We $XXX,XXX XXXX expands. to per the total the range to of revenue $XXX,XXX account with will X% XXXX prior of annuity testing that moderately for continue our flu with annual our customers average quarter growing in combined the confident drove year. approximately future years million, in remain versus impact XX% $XX.X increase up be quarter season first U.S. an with our ePlex to As of first of average placement mentioned potential utilizing the clinical the customers in per placement to The majority compared the the by first ePlex

was revenue profit gross $X.X XXXX. or XX% the in of million quarter of quarter or $X.X First revenue XX% first million of versus

Importantly the overall the of sales gross product margin quarter despite compared to higher XXXX fourth quarter mix shift remained first the ePlex constant to of relative XT-X. in with XXXX

As to quarter of to demonstrate to beginning Scott ePlex of manufacturing XXXX. This his development. the on increase million, improvement was in R&D for positive $XX.X largely additional results. representing expenses remarks, our $X.X focus to drive due compared on menu were related gross an to million initiatives higher and operating quarter is increase ePlex first efficiencies spend margins highlighted Total the

the the first quarter per $X.XX was quarter of consistent loss of net XXXX. with share for XXXX Our first

$X.X operations in the incentive with $XX.X that was in in recently to million provided approximately upon $XX.X on due the quarter year, in based achievement cash used the million We sheet. Cash and objectives. to offset balance of compensation We used the XXXX million cash of annual cash by operations first ended quarter, by by loan. the million over during expanded corporate and investments. payment term $X.X short-term restructured of prior our our increased Moving

of in quarter this payment, fourth was of that to the equal XXXX in $X.X quarter cash XXXX operations million. our Excluding used approximately the at first

XXXX Turning to expectations.

of of $XXX,XXX to our and million, previous annuity XXX We the XXX average total including analyzers ePlex additional million $XX to of placements $XXX,XXX. per are $XX guidance, an to range reiterating analyzer revenue in

expect the the than be revenue the expenses anticipate and of our to clearance launch BCID to XX% Furthermore, $XX concludes XXXX in account new million our will more both to and We the recent RP usage operating million and This the diagnostics which is million, our $XX margin be XX% with cash continue gross second and $XX third following remarks. in timing and the customers in industry the the of continue ePlex we million. takes approximately year panel. year, common prepared half of BCID between range, of addition $XX to placements throughout of half into to

to questions. this at Scott the I So and for like call time, your open would Hany,

Operator

Thank you. Weinstein of from Brian Instructions] Blair. question comes William Our [Operator first

question. proceed may You with your

Brian Weinstein

Hey, Thanks for questions. guys. taking the

little seeing with BCID at Can more that And from you starting hearing Just bit from how are accounts about the them? out guys convert the What be impacting customers? a it's specific product. you point? you're funnel this what you're looking to of

Hany Massarany

Brian. Thank Hany. Yes. you, is This

our over next and panels, to and suite the approach we more the sepsis. in the testing panels that go an quarter third three we also more quarters. Our customers product more to to have in customers impact role routine Certainly, as implement panels the are and we full on important very and of fourth interested we bring our now few quarter, revenues, although, to to expect in customers this come and BCID contribution played placements a made our live BCID first bigger can the

Brian Weinstein

question you. Scott a for

been give just you've in that role what than improvements you that have direction. a for you get bit gross making fully about the little moving talk you? some now just of in expected able can margins that are But you you're us talk about the details anything can different you've maybe guys the surprised of the may And little can right the into that of gross are discovered the kind to other you about a new hood? any was on while, Now margin what Obviously, side? that kind you

Scott Mendel

I I was new Really this prior much involved nothing role. before. wasn't of taking that nothing Brian. delivery operations surprising overall in pretty aware product and to Sure

RP Brian We have good really delivering The especially project team. plans against in And project out a majority business executing laid our a quarter. job plans. got very the of strong the was project nice been those an did That yield, are team focus multiyear They've plans. from that has the first obviously perspective. really

plans. surprises the is team progress and its executing So is as No expected. big

Brian Weinstein

then me. And Okay. last one for

on R&D spend a next of little be the pursuing? be sort GI you up. guys this projects you is a that the year, specific can more can On you are -- guys Obviously, to when can as specifically? that? give to us some you about update talk when you And it, an can on expect GI Thanks. beyond can But give you we update projects us little get

Scott Mendel

in jump I miss start. I'll Sure. if anything. can Hany

milestones. is GI hit we priority. We'll So continue give to if as you mentioned top our updates these important

so focus, an team's ePlex And the other R&D to But the that from focus. perspective, and are that's beyond in future remember have GI to story, areas we our technology several there's that development. we're including important investing

we're to improve would platform So assays on future looking ePlex panels. constantly help iterate that innovate our and and

We in Brian. also heavily invest software,

of Software an been proposition. part value important our has

from soft encephalitis, ones customers. infectious focused software So on, provide category interface we focused skin things disease helps we cetera. remember meningitis, in continue and lastly, like joint infections, overall and et that on as to interest specific great bone tissue, our although for are with in we you'll an usability disclosed user And then we're specific haven't future invest menu, that and

Brian Weinstein

Scott. Thanks

Operator

Thank you. Massaro comes Mark of next Genuity. our from And Canaccord question

You proceed with question. may your

Mark Massaro

live question Hey, My the for the start for I Thanks -- to to to you and guys. a it a go sense the it you to And customer? on time for win questions. BCID quarter expectations BCID? you for on customer guess. start takes around a on the your a give or -- revenue is validations give new clean on can then, us customer generating a Really us time can sense first takes

Hany Massarany

some But in since in it's Thanks for first the to up in Look, semi-extended U.S., released for drive specific we've three in bit answer over time commercial that quarter. BCID quarters. now the BCID BCID I know, with next gearing sale panels the all we're a would our talking the been that our we have to season really say as question, the we now. have you general, with give with about Yeah. organization flu busy And relation been customers little for to few Mark. early

the of BCID have customers over with funnel we move ahead several of cultivating their of of we already expect many a quarters. to implementations sort months. over next the been opportunities so, And we've and sort of past few that those pretty good validations And

that's that syndromic are compared take RP, longer around molecular validation to many, use routine implementation will and well penetrated, for the expecting years. However, been many terms as little than we to Since also lab. bit for relatively of for in BCID a is BCID RP in it's diagnostics panels new not

you to the months up could if mean me number, it techniques And I bit from to bring I so, that push say a for in of culture up use molecular RP. to say, speed expect would with over up would six of catch -- conventional sort panels to from time area. routine customer I But and sepsis a blood take three over a we

Mark Massaro

Great. And the Strategic far are in on the on big it's how you you Gleeson think I IDN you how got what and my frees curious of congrats the to Can you've you opportunity question. big hire a and just of Mike & us think That Michael sense do Accounts. left? do opportunity. networks GPOs? I'm much up is give some just Corporate last think you penetrated focus for Harkins. Obviously, just so a of guess

Hany Massarany

with and as networks, some that East Coast labs. national we the the as well both names, have I hospital you mean some U.S. any and Mark, and of naming on in obviously IDN, West know relationships great big we've reference And some been very also and sort biggest without labs of big Well, of the the working reference closely groups with national market. business biggest

And panels, solution the a we're to as and that agreements develop However, well. effectively big more ahead contracts that now as well sell of opportunity organizations as more the a able with we we the some significant the of BCID some around have group to have I purchasing of with us. think country and comprehensive IDNs

this to see board. investing a opportunity to and as under really this we committed team across Mike building for Gleeson forward, company moving we're So significant opportunity the and our a drive

Mark Massaro

Great. much, Thanks guys. so

Hany Massarany

good. Very

Operator

you. Thank next JPMorgan. question Peterson comes Tycho of from our And

with question. may You your proceed

Unidentified Analyst

Julia thanks. on This is Hey, Tycho. for

terms you based now panels? have off to wondering current into of and your first your see the holding -- revenue approved. your that were more you until said guidance three pipeline, three visibility regarding from upside placement was approval guidance, previously maybe panels So, some in I on do get customers maybe that back recall BCID you all I full of they all your

So just approval the of see Gram-Negative upside wondering if the you any Panel. since

Hany Massarany

question, for Well, Julia. the thank you

we seeing to assumptions expecting. the best made But models that consistent what -- BCID our of push course, we're deliver in the and of Of and provided and guideline with we the what guidelines clearance internal sort the can. will hard results the we've are we we're

So than at any this more guided what expecting to. stage we've we're not

Unidentified Analyst

for Okay. be sense many doing BCID how you regarding will customers alone? of how a And BCID-driven just then will Respiratory the many using be rough give versus BCID and current pipeline both could us

Hany Massarany

Yes, sure. Look and I want panel. to revenues do break-up and intend sort to start volumes by saying that placements not we of by

product on BCID placements that this using have XX% maybe some as for BCID, over for waiting work also that is Many customers through course, customers and but now. quarters. have end immediately not are are alternative majority know in of will method. our overtime for since of of market be the example our next that placements something RP few had we interested it. vast you if like now be the installed ePlex there that's are RP in time the of -- RP been However, Respiratory-only panels, some interested that And the We we've will to all think to year they're of XX% running necessarily by somewhere in base already but this an

Unidentified Analyst

to helpful. faster panel expect very And Okay. than Respiratory. ramp I sort internal of, know That's you BCID, penetration then lastly

reach the versus for think can you currently? BCID sort XX% to we to that do XX% of when So XX% XX% penetration

Hany Massarany

required mean I with X, there's Respiratory. more than Maybe believe advantages with momentum patients. did X, I it testing X, with took to of take the years interest don't given sort urgency RP. know speed will of the it and many think XX the offer But it that a that less years. time what sepsis significant that's the and septic lot I to act sort behind I the, panels on syndromic approach

faster of we that so will on think it number But if or a this put adoption adoption curve be a a like. it at you stage. sort And steeper can't I

Unidentified Analyst

Okay. That’s you. it. Thank

Hany Massarany

you. Thank

Operator

Schenkel our Thank question Cowen. you. Doug And from next of comes

Your with question. your proceed may

Unidentified Analyst

today. for is for Thanks my this Doug on question. taking Hey, Chris

on around of was any for on Just based you reported XX% correct? And changes expectations initial quarter. seems to assays? are margin then cadence your the the start ePlex maybe like adoption that Is margin what it in BCID to gross year gross based there

Scott Mendel

This Scott. is answer I'll Yes. question. that

don't Although, it we up specifically split correct. you're

back ePlex in margins can they're If gross you quarter. first into the the in mid-teens

calls gross We're XX% path So very to the deliver that's end between quarter prior And to be margin that I this think the standalone. ePlex for pretty regular over it'll range. to significant get improvement exit of talk fourth year expect and year. that a to here quarter that. cadence around on significant We XX% year on did and we of first the this over last about improvement

Unidentified Analyst

or And you. you customers? a of Thank specifically And initial the on could well? are do existing customers but then Or BCID seeing I you do really as you Okay. customers comment the healthy expect mix of know your of new-to-ePlex amount -- majority it's constitute adaptors? BCID early,

Hany Massarany

Yes.

taking account to I've included I obviously at into time the this menu sort BCID. other think the which said. already with ePlex early decision future of to our existing what Many go on it's a comment repeat little customers of than ePlex made to bit

into respiratory, account an consideration. that their would and was do that their they ePlex into that they have while So, BCID would we factor brought -- labs important and to took for

Board equally across BCID. in of from there's of now interest non-ePlex which know that be going those implementing of certainly even But a the to BCID we start sort customers customers. So, lot will

in it's a bit again stage in and with So, any -- future, behind a more I maybe that. at can you more mean to on sort of give lot the answers comment this we to little early information quantitative this relation

Unidentified Analyst

last prepared you hoping any provide really your on Okay. shared And in to And hear -- I'm start can details you remarks? and my anything question just clinical update timing. then panel beyond GI trial for Thank launch development additional on on you. what

Hany Massarany

for No, any other little of a and we so the provide can't from We a customers priority a is forth information lot say us. voice additional it competitively opinion to on situation reimbursement-wise, spent and than bit so input of time understanding utility-wise, and leaders. with clinical key of

big in well the a and and that's future relation product development. we communicate information and focus appropriate for have We to in a It's will truly in as company timelines our already milestones.

Unidentified Analyst

taking for my questions. Thanks

Hany Massarany

much. so you Thank

Operator

Thank you.

question next comes Company. Needham & from Matson Our Mike of

You may proceed with your question.

David Saxon

It's Hi, taking questions. Thanks on good afternoon. the David for for Mike.

the and reagent between you the your versus capital breakdown landscape of are about for year that rest sales what of just can expectations competitive impact breakdown. might if kind wondering talk the rentals First the how

Hany Massarany

the year. rest constant the rentals is reagent We're the and modeling than of to what few mix more what and rest Yes, placements. XX% somewhere seeing capital And of expecting for and remained XX% that's the for the quarters has relatively rentals. past this And mix capital we're year. we really rest continue to the reagent between expect the over

David Saxon

of is? you sense you new then us salesforce inning a XX%. I give what expanding of And Or rep mentioned what on kind by the you are the are U.S. in profile mainly sales about average guess these reps? you. competitive Thank and Okay. Can kind

Hany Massarany

I the your sorry. first of part missed question. I'm

do in on? comment about You what me specifically asking to want U.S. salesforce expansion -- you're the asked And you

David Saxon

kind of just are where you in the XX%-- Yes,

Hany Massarany

and we in in who Okay. so supporting revenues not our people doing forth. approximately driving installations our field and the Yes. great so a in of job are on are helping with the people U.S. or the and XX have including that customers Well commercial course market products selling so people technical U.S.

to so in we the Mike number sort the focus the next and scale of of sales as over U.S. to path And sales couple on to of number That's we that's years. and expecting if It that's a excellence for force executive that than up diagnostics. sales especially sales experienced six area good with to and don't they're a diagnostics sometimes a be tend up success to or fully over are people to easily. speed We record coming and up productive have from takes different taking. you those the with that drive in representative find people we're time increase addition the of but come months new a we hire to Harkins that track expand our the

or we So, said for quarters couple speed. I a to of XX come next to a allow of up people. sort like couple over another we so the rep And sales of years think add we'll

that the answers question. hope I So,

David Saxon

much. you thank very Yes,

Operator

James. question next Raymond John Hsu of comes our And you. from Thank

You may your with proceed question.

John Hsu

Thank you.

recently $X think $X is expectation. that I reasonable a the about way you million BCID question, to a First impact in as think XXXX million to said

call, reasonable this for still line for the with year. still given impact focus you're as that thinking sure far of make kind that in as what's expectation BCID the want the Just I on of to -- that's questions your the just

Hany Massarany

but Yes. We're not by about by of in. ballpark guiding assay or that's the to be panel, sort right

John Hsu

Okay. comp from the Great. obviously last year. record a flu had XQ a season And then tough

in terms of record the actually the is season. year of this length However flu

pacing that utilization? as how And we factoring and the placements we of should thoughts year? so season of move maybe that flu in the the XQ think into ePlex about with throughout longer Any the mind,

Hany Massarany

that that No. takes We don't to going that's we that provided that the we've think into and believe account. guidance change anything materially

John Hsu

established pretty with near obviously here. to two there's term Okay. Great. couple the that a -- the are there's looking one And then in specifically last U.S. just and competitors then enter more

you competitive a how of standpoint. as wanted temperature So positioned from well just to far think take as kind you're your

Hany Massarany

syndromic I Look, multiplex new before, this This molecular to testing think Yes. welcome diagnostics significant that market I've is we all a of believe is very approach said area We here. as important. of the entrants.

the is and well bringing decisions lot length health in focus patients on economically very ePlex our with sort to feel competitive also in We our this value we're the so company. very you a functionality, with rapid of and make results to its the that and based disease position, Of lot confident many et of value physicians advantage least value therapy that be infectious of needs really course in terms to dealing systems disease we lab care financially, forth. sick the providers on actionable as right integration applying of and other very cetera information so patients providing But states our where of taken as proposition on to and know to for a terms and stay enable of see now, decisions quickly. action for fast. competitive provides at And

not versus them as of of entrants how are with that systems new they different familiar of and the lower-plex can have all cover capabilities multiplexing many terms like example. targets We some true in for

this have companies the think and next It's develop working few good we However, over to it's bring all to more market visibility to all good good. years. more

John Hsu

you Thank Okay, so much. great.

Hany Massarany

you, much. very Thank

Operator

Massarany to over this And questions for the turn further now I time. any back call remarks. you. to Thank any am at further I like Hany not showing would

Hany Massarany

there our Sunday on I'll any look to for for come and your much And you that progress I in good we'd very you Have anyone be to support. CVS quarters. our you answer other have. might updating be for forward Symposium questions everyone this glad if your be and is time coming Virology continued everyone. afternoon a booth. for Savannah afternoon the to thank Well the planning Clinical in by on

Operator

all you gentlemen, does conclude have and conference. disconnect. for wonderful and thank Everyone program you. Ladies today's a you participating in today's day. may Thank This

GenMark Diagnostics (GNMK) 30 Apr 192019 Q1 Earnings call transcript