Recent QTRX transcripts
Associated QTRX filings
Joe Driscoll | CFO |
Kevin Hrusovsky | CEO |
Sung Ji Nam | BTIG |
Puneet Souda | SVB Leerink |
Doug Schenkel | Cowen |
Mark Massaro | Canaccord Genuity |
Good day, ladies and gentlemen, and welcome to the Quanterix Corporation Fourth Quarter 2018 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded. I would now like to turn the call over to Mr. Joe Driscoll, Chief Financial Officer. Please go ahead.
afternoon. Good
information I forward-looking remind on We statements and statements. and begin, call that management's may like the disclosed assumptions contain of in the will that on or not would actually we this plans, you to today's beliefs date achieve Before of as intentions call. expectations available are forward-looking based our
to in factors be on be unknown required Kevin that previously CEO, known different our The prepared comparable can expressed statements and risks, Regulation US over performance that uncertainties, or financial and the achievements to results, involve future to and pursuant earnings directly Hrusovsky, achievements cause may were by any other materially SEC our from measures or results, actual With including to in Forward-looking accordance assumptions performance or that also turn information reconciliation and will call G implied by the Exchange most forward-looking in of GAAP Securities measures issued non-GAAP statements. call will The This Chairman. include website. risks certain not I GAAP. we with and our President are release recent uncertainties Commission. the financial face filings with our described most found the the the financial is our which today that, measures
to year. XXXX some also to the quarter results And the agenda the website. would appreciate. continuing priorities. but then are reports made you are Thanks, is the good momentum updates same lay talk few will in just and going give our with into some and going much months the financial go to XXXX the of slides going material. finally, I'm and Joe to we've that the fourth I'm the of that goals XXXX will series really I'm moments going provide build. also QX of highlights, few a start and through the the so then Joe, progress and a area neurology we've the past, progress online fairly to through We go throughout the think we In where really to that the about on used framework take overall in made feel to like Q&A. I then I last around out and commentary in
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Kevin. going to now. additional some provide financial I'm Thanks, details
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For XXXX back to weighted to I earnings XX million. now will Kevin. per range in share, be average over expect turn it outstanding we of shares the
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from with Our BTIG. Instructions] Sung first line the Nam [Operator of question is Ji
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Yeah.
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year, next much targets you for costs. and in reduction versus for volume just was as mix that of production come then Kevin your to a curious you. production other expect terms maybe the margin efficiencies do of lastly, product gross to from And Thank manufacturing in how to one –
of our comment but want after both might build -- we and fixed costs, a seems them produce of overall there. just here we we where our have -- facilities, leveraging it have got that lot real as as mix to well out of the we've those Yeah. because And me, the of in the leverage consumables in potential Joe particularly for ourselves a consumables
we for categories to an got productive. opportunity those both So of think be I
XXX you said Joe, what don't say. know think would points. I we I basis
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Thank you.
is question Our with Tycho from next Peterson JP Morgan.
Julia on This today. Tycho for is
So first you're off growth on instrument, expecting year. this XX%
contribution there is much funnel, interest color possible, any Just wondering preliminary in the the embedded of the and on could customer give in of pipeline? order how will, to you SP-X or sort if extent you
Yeah.
at revenue. guide level level granular So rates growth instrument a overall we our at don't and a don't guide macro we even
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again play out provided of how granularity inside might to any instruments haven't that. We
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rental, in mix the reagent sale of changing of curious has do terms if forward? in the sort attempt versus see any there any of you going change capital then mix there or to been just And expect
from and company interesting. last track the the make team kind margin is previous on -- hopeful reagent years geez, a worlds. can them, user so it Well, away that's you we on are have whatever that far, that of companies And at management pretty lot reagent the from of doing the gross complicates at the of our we rental And We've we in while haven't We're our That's had as then as say, over later interestingly, had continue -- people well experienced selling It we've analysts sell across a had XX do in to investors stay our rental. of and record instruments it. goal. kind everyone's also that. good the consumables XX just all.
what most be that in anything interestingly lower bead seen somewhat I It's doing that would though, than continue the a the much technologies while. the we can for charts would it. hope are our I've cost are. So based say the to compared economics off SP-X a instrument of
lower would to able we're a expand themselves get some then and we're rental ever, penetration probably going they and have reagent so competitors aggressively the but that to know reagent rental much and if significant levels way think so that would to five six actually you you to deliver in to of that hopeful have good probably, caught to start on later of to we're use rental COGS opportunity, that beds rapidly, I much annually the we going we're and SP-X could test as the very So I a on test SP-X by seeing the in COGS without consumption that's using couple going way, on try the get some momentum as times to and a reagent to get beds.
going are type bed the at again economics level. So we people can on we and more really actually see test gross there, of margins get technology, believe XX% interesting when this the
base able with So very market our this differentiation higher been in though probably has of this prices actually We've something one an into new redefine of economic cases, higher, be been bringing many of far thus delivering been command that able let's else say, the yet, we're bring. successful kind to pricing a and a can it the even but starts are technologies the taking installed Luminex we've disruption our than, to our no models. MSP to or our possibilities to at because growth,
instrument What's that into to So we're higher despite we to priced, the we're going move is economics also exciting been that fact trajectory. were now able changing growth we the as so become more we've that command multiplex, delivering competitive why of the the possibilities a the disruption. still we're disruption do to couple with what while the change multiplexing economics that's competition cost so with on the with trying the starts SP-X, them to lower of
about So pretty SP-X. excited the
in-house I of does expected the side, give side? just like, that on and and the the ramp margin do margin expect side to lab if on expansion how question, forward product in your margin us service gross last how can on CLIA update compare you on service the going the an current could And utilization gross maybe you one capacity regarding squeeze to
Initially, then consumables business was we horse one so he later margins these traditionally business. maybe, I Tycho, drive our think is instruments. was and aspirational on the And started our than we saying, seen people what high on And wanted XX%, a that Trojan reports Yeah. and then instruments for asking is XX% for and gross start the services of many an almost got XX%, you're trials. of started, the opportunity charging are it let's to in as Tycho we It’s started when promotion, top it for to of very a This things different of Tycho side. know selling selling a strategic of we interesting. expense lot in that see I north business has the have as about. I our question service think a -- can too,
so it. paid And run into the trial they And it's and see trial signing people started the of consumables for horse exciting on run that third every an been to to we translate on, Trojan instrument to the then buy later that instrument.
So more become that companion really that of running it's now engine biomarkers strategic the fact where those But for for we're running is what's an we're can can they diagnostics. kind trials complimentary us. drugs or become
lead So diagnostic to it's actually with that opportunities that start move a our landscape, like that relationships at now us into have we to lab start a CLIA pharma Greenfield help own. opportunity of to actually looking and could
are is would of strategy there that that on like in that levels. many it's I get we about productive something continue all of service the encourage about, model the levels can utilization talk a again, So thinking productive. going that the up there. so that to But strategic services because and dimensions what wrapped traditional very we're think doing don't And in isn't this just analysts
of people Now, expand the any the building now into into this we adding efforts. middle original with new Quanterix lot building of can then for both original headcount. which to moved said, that's year, Aushon’s going Quanterix the house a at our people that a just by now Aushon we our capacity there. we're have in lot that our of integration a moving of personnel we've And in building And moment
one buildings consolidating in I'll lab now going different what cost today that our be two we we're of, accelerator opportunity call, fixed to So and there. plenty into have everything has got scaling
to call, capacity. we can operation, I by going what buildings, people the than can but be think the and that utilized scale So the facilities, cost fixed a, which dimensions adding would adding we're from I'll the less we be simply of XX% instruments,
investment These So much not variable steps. scaling. it's are a It's steps. very capital efficient major pretty
So don't going actually think to I for too expansion. be burdensome it's
Thank you.
Leerink. question next SVB with from Our is Puneet Souda
Kevin, the completing a as company. congrats the quarter year great, first public on on and congrats
trying around should what consensus about for you're long XX% in is XXXX and of look question you understand ahead term a that my million what of modeling we at how to I'm growth, terms calling close So that, just year, so are first XXXX? the X about a or shouldn’t in assume maybe adding fourth given seeing bit instruments in and that, the of you're versus in here the guide in that, of SP-X quarter, on from long more we the acceleration ahead and top coming growth term to HD-X
Puneet, I'll forth the you few a and I back and go all things here. this time. say on
to way that million, meaning the the that at we revenue look XX on XXXX one went say stuff would collaboration I First, there had and all performance revenue that some around that. time our is
what models, short I So do doing visibility run I our got is to the think executing term you've trip possibilities record. track to value into been with a is up our though want thing I've watched, over lot lot of creation with rate is that you trying of we've any been XX% disruption even of we're think execution, a so what everyone and and aspirational that inform is around we've significant on much last running
of an able some is But moment. a were if the analyst, this company just to plenty got would need room So to because there's bring say. be we hey, no we performance, level for I not beyond disruptive to whatever to that, models personally there's think of that a I go the they remember, any need I XX%, say to for visibility got and bring momentum, believe in we but
tripped could end You up. something, up gets it with
having sure so short having of a compromise make possibilities to -- the to future push we And want execution value to out. understands, don't creation me more want everyone I real term the revenue by of
to we've I exciting or try the are in tests, are ultimately, the for be don't base could some an I lot traditional that blood people wrapped you at what been going to right, every get to a possibility the too of create and get business impairing XX% bigger. more I the beat. models wrapped after or if up not we I the beginning ways of going growth at MS and going pushing impair know look continues laid the possibilities So of because looking to would quarter, to diagnostic we way after have us, and mean, an and but out, you're neuro-disruption very be Alzheimer beat beginning doing guess our is of up for,
to good continuing around our it's growth about said our XX% size third think and since I and we've still future can a think so So, of one now were achieve we believe kind that place say we're to we ambitions we
and let on And me quite oncology cardiology, ask grew there. you strongly
us the, up give pick elaborate the that. overall, behind was driver if Just there. on could what And you
already similar More have SP-X, the a you're oncology of instruments cardiology. sample versus sensitivity been in importantly, around lot traditional designed and getting
parse going of more story. So to what's SP-X a growth I'm be there, mean, SP-X just to is driving XXXX hasn't I trying the launched, out
cardiology. and So to what's understand just driving trying growth the for oncology
very we increase the the a approved getting of from pharma phase best some we that lot was of, X a the post-doc the know, drugs to a and We that drugs, School One us, supporting probability, once the thing is world. by best can using them can hungry their pretty increase got which we lot what biomarkers drug exciting phase that of sciences, of our then a a from in are at XXX%. biotechs call, and as that Harvard he’s field. -- to if X you we sales These application probability pipelines say will and got -- PhD, of look up, one investors a groups you got Medical of this getting got group [indiscernible] heads they do to something these thing the know approved
commercial So we strong engine. have very a
call some what historically we already the bought there of they were was when so And I'll assets, basis oncology multiplexing. Aushon, because
placing pretty for. that did XXXX our movement, technologies movement do be well so we but going so and in would we did And in Aushon kind of the what to some some create wasn't are oncology team traditional that consider I really
differentiation it. SP-X The really the getting. And [indiscernible] we've which We important Luminex. used the dimensions kind restructure have financial launch from a that it greater Sensitivity have. that's the got lot and differentiation taken instrument scalability didn't is, a we of differentiator We've has what really MSP have to that is and and we've think to get are of sensitivity, to to all results of of we performance all term an Aushon that's old longer there. brings and know we great the
automation, actually We the also work to read automate, not but liquid integrated handling that automation before the of process plate. of some you
a was really came neuro-filament lot homebrew brought homebrew that where it. maybe believe in element That's people several NFL light months on homebrew. these today ago XX of a systems. like They closed is our NFL biomarkers it via like don't thing wasn't competitively. it other a also actually that even to revenue open today our got of a key XX key and We business We in and to systems,
short it you after And term growth term because why gives actually but you well So look walking in term homebrew got thing good homebrew our we as that think a longer as be down growth. we're it give use go order you. approach term, even a looking being -- engine that though an lockdown with growth good as to for short at that's we reagents it the the might thing, you the longer might that doesn't instrument in to run
got more that now can it. Aushon oncology. ones. now placed into allow because that that's little get we’ll we're stuff SP-X of built scalable of growth that traditional be going to weren't so technology of we the the And revenue technologies, a to in a oncology bump, much got which longer bit hopeful all has a and sustainable productive what then term consider And
would salesforce, a steady I organization. at sense that give a is up, like us And commercial currently give where we of and you just stand Where going clearly, And another you organization. help could one on you're OpEx spending the do into be XXXX squeeze of overall terms sense there could Okay. to us if us if commercial state? organization, just commercial in overall a now to
them. Absolutely, And product about what Puneet. XX% to carrying But In increase in we're XX. then we field these XX each think sales installed sales I other support to we management our personnel of card general, our sales people PhDs number and call up XX% keep probably I around number or that by application have of base all year. carrying, people, trying
to So it's expand drive XX% than would we like continue times like do probably more XX%, and about that through end you all up and adding those that by revenue then that. that’s to growth is Right. greater up headcount that when three what
some productivity gains in commercial So you'll have investments. your
the back our got Now, investor, we IVD got an that rights that of in XXXX get about centralized fact back. some that of rights that all diagnostics, we've developed I'm one-time IVD be I again, for decentralized, laboratory I'm or we care our on excited if would say or going whether those things point
XXXX laid bringing going so in leaders Streeter, to strategic would diagnostics in exactly diagnostic Jackson and have in collaborative we build LDT of XXXX, some I the industry go and pathways. will like key we've bringing labs the that right interest We're have yet build got we relationship support that but and to how we out that those we're some And in out at OpEx, are great future. in in building a out sort Mary thinking to lot one to putting help of believe, the form sure meetings, investing for Ellen, not goal us the we we're that, least at reference and roadmap we into already from a
Our next Cowen. Doug question is from Schenkel with
you you Could your bit just particularly in your clinical on Dr. some diagnostics? Streeter guys. there, of how recent Hey, it briefly more of touched but furthers the addition curious elaborate a I'm leadership aspiration on hires,
want out. told lay I talking of us. too still him this Jackson's spend -- because didn't And sort him to it's development time we're much trying today, corporate I running Yeah, here. like for He's
we as what CROs. call area in diagnostics, pathways particularly So, the research between would of and there's
two FDA, disease get of approved them can markers you the way, can MS, support progress how you approved to many retrospective Banyan, if of Alzheimer's scan could that you that out that CAT but you and blood, and none having scan. that They on lot drug got moved progression used drug these benefit the have samples a he and by and be an the they a see when they if have got validation biomarker you was biomarkers running in if actually can whole modify the a did clinically lot wouldn't biomarker Jackson for so for these of that's rule trials get getting that you the levels your at of disease disease that for then CAT can them can them pathways modify there's can drug himself right a look UCH-LX lead validated approvals disease that approved for drug, modification to GFAP, We by can the of disease help markers a of at and it from an and now. with drug did
And NFL, which And years average, an expensive. of blood, MRI, the MRIs on of out. it's X.X to are before much these take all many years you just X.X that more was these take a within doing patients are rapidly the think could today and MS using suggesting on it year pretty is publications MRI the try in the So bring disease drugs progression to endpoint light. but MS can got only X.X today that that of to I these brain result disease can see rule where know neuro-filament their we diseases, might many approved atrophy area in MS, monitor months you progression, the per three
the stuff of Jackson in FDA. difference a dying whole time and out in a up kind patient can drug and dying them monitoring time you which being did with standing of getting wheelchair right be so on of is cycle concepts cycle considered the And that's the see the rule just patient the to versus the of that could
opportunity on on only point, we're of not we that the and fertility disruption are you You you neuro-filament, eliminate real just these rule got PET people did That completely as test? rule shown. can biologically, scans Alzheimer's actually Why fast our been PET translate of number and this presented is look the NFL, or in all are increase scan there These the only on sort if someday can could publications of blood beta possibilities, these a things the PET can us promise into even with go that So is help our room with that at them pretty because four that beta there's that guys into really probability would with $X,XXX that scan last team person through very at see low FDA, our concussion of reimbursed be amyloid, see to Alzheimer's that a out They could risk. subjective. that scan. they're yet. you the year, that's beta the has biomarkers where of these stock beta there's what's PET we the And the how action scan we the are could it's done the I amyloids, of whole excitement. a versus going Jacksons, creation are to And play what's saying, this can of scan assessments, diseases and Alzheimer's But with, research the interesting these where held I without reimbursement on a this $X,XXX disruption amyloid have to the beta to don't in value because NFL, outs by like Associations focus kind which without based standing where the want of for these as I this the the definition regulatory and in screen of with that's a world, things, How enough piece. PET be lot period. on cognitive CAT very the track the risk, month Alzheimer’s, want was, we has where that the want a biological going meetings blood to wanting the role been. to way today diagnose lot say the want now we think much do there's But of they you what a for already if and executing the amyloid, for and test outs, FDA? they're get use
we more continue we approved us CAT this that X, CLIA for CLIA and give we lab can given many CLIA NFL well as to into So make so drugs Ellen. trials, approved we into of that trials to to the standards, Labs person, evolve that and that it get X to sense, Mary much are MS acquired how quality services Aushon, right that Jackson's so be companies helping that using one today bring X, do people landscape she's you these trying she's now low hire ran economics. that LDT predictable our to right bear, a should We drug in we of moved facility. with sure do from position very there's know the actually these want as XX as our regulated, be more running the She phase
trying months, have fronting and some because our they've is very come we're that. three audit those We've so in months, Mary positively biggest audits world four and been now the major us of to in that last in going capability on had audits Ellen the house. to behalf And is the accommodate
last and all make in there's we pairs brought that some is that's can also that antibody Well, kits the signaling, product an basically company year in quality light technology. which that we our That's want antibodies digital then the two antibody it for in the engineering materials. ran and company. Mattoon cell capability in life the of NFL, development our engineer earlier in so the the raw We Dawn best world. different year, capture to of bring antibodies she our house. This
my you major add So the he Dawn capability. Great was gosh, Leader, company, guys just world right. disrupting a incredible person, are said, a and Julian Bradley's he another wasn't he and and back, left came
been with lot of commercial [indiscernible]. a out, the build he's so doing And working
think as research. can we're bias risk of growth So we these adds, do a our It's I trying lower are what pretty the we much trajectory. steps again, sort on based proposition. in next important But out would to
first Precision in quick follow-up, the December. Maybe Summit one just you Health held Powering European
this or this curious the you've an adoption Europe, in to I’m is of time after Given would event right typically to event? flavor accelerate give like response this a done something impact customer hear could and sales you just us expect if first like the the you
those diseases that found independent Doug, would say biomarkers. treatments through the the to earlier greater ultimately, disease Powering a after be physicals, annual at way things and biomarkers, it's for our Summit cancer environmental cascade me I then is modifying really going here let way that stage our hormones, from Quanterix. of early the on from factors, conducting later the for and they at that it's actually and the way you the we concussions subjected can And two at diseases prevent as of way that, companies first, life nonprofit looking look factors nature, environmental to Precision knowing but Health and way seeing we or neuro-degeneration, we're I of biomarkers from say get disease vehicle the we the is revolutionizing and Quanterix getting independent to that are those and [indiscernible], disease those be the from looking categories for broad disease what like Quanterix, a is by that triggering growth or got That we prevent these can whether capabilities that a other for purpose
that something light they key It's about many disruption a to say customers attended and of studies non-invasively neuro-filament because of while. the I and Quanterix -- to the that biomarkers light stand you those lot to that's researchers be spinal video want of mind found on It's don't of be feedback direct ability a some and I by was gives And a significant leading But showcased been it Quanterix talked very really leading they consider in trials from a that here of is from blood. understand the around world real -- for blood, in you nice and been they about spinal see they lot a what tap a would there even neuro-filament spinal website neurologists very the a and can they you participate. So cerebral did Quanterix. independent is that's to That's cohort and can it's excited the a job in find very to fluid, and from don't been has painful it like patients tap. new there's giving recruit drugs fluid the patients needed. spinal when drug giving tested invasive, did
and blood, abundance that cerebral see the of in you same which to lower there level exciting thing to base you can showing the that, be blood lot answer was lesson to the it's seen it's were able a ability correlations from see publications you lot could of a spinal lot get to have a fluid, means So just those in lower, need it's a body of scientists having that third But evidence. lot was, body those around great the of a correlated excitement. summary and lot groundswell and that a it Again, that There the PPH on of of fact it. website. science video of that peer-reviewed party, and was seeing evidence presenting our were it's excitement see of you'll in published see well, a sensitivity created was
of sponsorships of a of it the after we Alzheimer's Morgan as seeing biomarkers there lot Canaccord, and from so Novartis key So way real the the can was themselves sponsors big. achieve JP sponsored, some sponsored, it. as had was And, well Cowen Leerink sponsored, great that banks cancer sponsored, going are customers importance
Our with Genuity. next Massaro question is from Canaccord Mark
and solid Thanks question. maybe on I guys. bridge just Hey the to congrats Doug's QX. guess
patients of some out thought from [indiscernible] to highlights of based of consent. the I said One PPH his with the informed NFL he that and offering blood began that presentation he was
So then I'd physicians be how researchers your broadly clinically? curious quickly to begin patients and blood on to other may more I NFL and offer to thoughts, Kevin, hear guess
Yeah, in that this more they And are That's research neurology, selling the that there's do should we like, patients cancer. lot coming have that not appropriately And running only so for used get here be trials into. more use of there on. they us of instrument say, being a going regulatory and research we're patient our But position of that is you test asking, the lot sector only. a those are also to consent, in and trials. just but
is see changing came You Hopkins that years might be major take at could remember PSA Johns of different NYU to determine disease the today's and biomarker progression game regrowing in important incredibly those prostatectomies, be all and showed radical an or and you publication not. five show when where can you markers. people CROs, see based be can out can that But for, they whether you can And stratify sensitivity a kind see on technologies. PSA CRO and that what ago, a the we especially that it that our is with [indiscernible] prostate
doing cancer so don't testing. cannot, and in be neurology, of coming to approvals us we that And today we just but not kind have -- applications do we to not in any
possibility all we would tests in that incredibly around really we [indiscernible] the developed see them laboratory and they Certainly so all would hope what statured we're well our collaborators they have first great And are house. be to and for And LabCorp doing. technologies and and reimbursement. see regulatory Quest have be tremendous
tests says neurology value. blood journal, and publication slide just that to of think studying show XXXX. And We and where house abstract that in damage house, be are so we're aired any from the have of that associated tests that not your a formal XXXX measures run we're of of accidental NFL running their I NFL yesterday CRO doing. ourselves in we abstract from continue we but going that a kind those LDT will will you I the and types taken call off. in Mark companies levels quote showed with the was prognostic related suggesting that's more in And out activity the clinical mentioned. doctor are to worked those would to just MRI publications XX, relationships we with disease kind attention neural There be of I working way and
toward disease the an said light support easily of sclerosis. editorial treatment utility results And important and response. step Our neuro-filament in biomarker chain, disease biomarkers an blood a had of multiple as the evolution accessible NFL then
that these on those the on ability we towards those would suggest can Quanterix you get be from been something the that's disease website and necessary to it where continued publications is would it our read are nothing process we there's the and condone. parties and achieving that third momentum we see before website So, approved have yet again but the progression, publications that would approval
also wanted three number using last of ask, the doubled each the I to years. Understood. And of technology your then publications has
SP-X look what within of core like think SP-X to multiplexing that was and wondering So and from if plex think I if in year the the oncology play might that's launch if assays was you you a new case, a will I'm the in a then in we'll wondering related could the used most? types do be give do the extent your be role looking wondering now, driving you which us at what publications of XXX to sense cancer could and oncology
selected looking I of lot like there's and so levels to and measure the SP-X texting system we pancreatic technologies. challenges my the of the and the of at Yeah. been excited about regulated, PPH Anderson, ten be MD XX it's I'm and healthy a pancreatic after we was today's named Alex typically system cytokines these presented different going Trebek’s you situation there's a system guy immune cytokines at a which can't plex really given, with ones. in are immune the baseline nonstop is of important consider at up the when is and the to you're interest proteins what most the the challenge [indiscernible] And this, announcement cancer them hasn't and lot immune
way those we're looking response movement XX changer which see about of I so you to launching, see that you're baseline of plexes to want cytokines, really first going when is those third a game And levels, particularly to able be is system at What's think system a that because immune are the we're to the because historically cancer. basically cancers immune a therapies and see fight them. the happened tricking able so is the treatment immune in to doesn't the system, the working immune hide they're these the to are
then triggered up see are storm, cytokines the the you so new where treatment, release to toxicity these of cancer elevation to many goes want patient based up it immune-therapies fight of drug. many through cytokine and but that into cancer or the so from on what's and basically dying the times, being regulate And that the ends called
our $X what could see to that And the there's scan of some going could some you standard, very hey, understanding worth consider patient of has getting months hundred and a much if hope CAT has to dollars therapy on lead that I've really can There's you lose that treatment to And think you immunotherapy million or today a applying early evidence six treatments. can or see per a that be immune-therapies, ability the I two cancer see movements evidence today's as shrunk. into have maybe ability technologies, over PET And before imaging, could so maybe say months, some after whether response thousand sometimes researchers to stage earlier. you some be tumor to gold answer talked if based and shrunk a some therapy. have, couple of before a you to promise scan, in that it I six in one with tumor get would after
is And to to those think and there. they and the area to that the things indications earlier sensitivity possibility build get desired of using effect this that is if types going interest to tremendous are have going tried I get to and to see researchers have and the the achieve we drug or want our undesirable so effect these we with tremendous an for on technology of much using can cytokines thing whether of
another and at came So the plexes the Martha, really great some into instrument PhD Roski’s to people, into there of we've cancer Daphne now cancer. channel with our those commercial has bringing that PhD out a cytokines not leadership researchers is to cancer. up what that's market experience under deployed. spend, organization. SP-X our a this can cancer of brought We're really Mark teach from we're are be commercial working really to yet. the those on had our so lot good XX in She's to start in some not what specialists stand ranks the company That's how
required Some be learning here. that’s going to
So know that fast don't will we be. how
say profound profound effect don't I and we a metric want going to have that there. didn't cancer, We by leading and we excited that know many if we to So I are effect. again? Can can, on a will is question? our goal think effect interested pretty in have as we But to going and we How end? like be XXX but we're get will on publications to to on then was year Yes? a we're MS Alzheimer's we a a and guide, XXXX that what publications carry publications show double Can have Parkinson's.
to going have do the we to those up so to excite to And as to that done their different a researchers publications to we're utilizing can, PPH market already everything vehicle been possibilities. eyes open
bit and out it's see there, being writing like a get to they can little then cult grants, get start going. so to a information they of effect can those can So able people that it,
Mark. SP-X, So but draft for we'll at to in end say, I it's hard would least at year mode least have to like publications, think, by XX
ask through wanted revenue? where last orders just my the increased instruments, on I And and those clarifying Are at And think I consumable I year to question, ask wanted think XXX, or pull to do Joe, box then at number installed you per also you a can you maybe question. about those Okay. it per said of the the generating for Where at XXXX? the to end you are now? QX. HD-X, XX,XXX of the end think that go of had And are
is actually revenue. field are consumables the XXX units the in that generating out So installed
going it the to able is be what Mark, should been it a able installed, point And we've third, be after list get the that from an model of months price is third six a being through as you going way to we're we're forward. to instrument to pull saying that
HD-X good year set the think saying XX,XXX that at previous ended for get numbers. the that deliver six out so way later our we and see We I the look were months at year the point. XX,XXX So and some is of repeating and we've at XX,XXX everyone instrument model, to total think pretty did revenue should and a to trying been what that's you we at third I then up
bit as longer has heading was provide XX,XXX. on think And you more third even same we little XXX, HD-X, month and yet. product say six excitement SR-X. even on of think so had so So kick further. right point a The to the we're and what SR-X, XX,XXX one trying are eventually, would price to The And probably to our were above they with that been even much a that list we're I that can now, price really I is drive it's that going approaching line what out we hopeful I is haven't there it's those and get SP-X, product towards those expect. that's like again in
even but keep so that a and test beds beyond have be that's place we pretty third, our us. would significantly We to good can that good one feel we the some hope are maintaining that model that
think probably cut should I we off. it
time, we'll as and follow I any beyond call Great We’re everybody with you of but thank much. you Thank have enough. you up questions. can't very
Ladies and may Everyone, today's you day. gentlemen, thank all participating program you conclude great conference. does have and This disconnect. for in a today's
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