NPCE - Earnings call transcript Q1 2021

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Operator

Good morning and welcome to NeuroPace’s First Quarter Earnings Conference Call. At this time, all participants are in listen-only mode. We'll be facilitating a question-and-answer session towards the end of today's call.

As a reminder, this call is being recorded for replay purposes. I’ll now like to turn the call over to Matt Bacso from Gilmartin Group for a few introductory comments.

Matt Bacso

Operator. Thanks, thank in and call. for you morning today's participating Good

ended CEO are Kuhn, financial Joining the a company's quarter available NeuroPace press Favet, of results XX, and the copy the website. released me from on NeuroPace Mike Rebecca releases XXXX, today, CFO. for March Earlier

Harbor management pursuant estimates results risks, securities in include of Before within forward-looking implied of forward-looking provisions we various assumptions. that the begin, to laws, during statements for and meaning should could statements. to like impact make I'd are federal pipeline which statements hiring, our financial made from are reliance these this based Safe you of Private remind will call the that Securities call Act to or Accordingly, revenue relating events market forward-looking of future not or by in Litigation for All statements. expectations product our XXXX. materially or cause those performance, recovery, management, Reform in commercial these those on current COVID-XX results you prospects Any our material that differ predictions our contained operating statements performance growth events, organization, that expectations statements. including this developments are upon trends forward-looking uncertainties undue relate to guidance, opportunity, place the business on and to These statements and involve statements expense expansion of future actual

live June on initial the with XXXX section of the whether offering. projections revise filed I as future please the our of obligation XX, the with call description final connection over broadcast new to public to call and sensitive events list and including and XXXX. Mike. or public the forward-looking factors by contains in our disclaims now Rule pursuant associated any that, to as statements, with or otherwise. Exchange our because a The risks of required Commission, to prospectus or or Securities conference turn XXX(b)(X) SEC any refer is For accurate X, April financial uncertainties except intention NeuroPace With with on the risk information law the of business, time only update information, will filings

Mike Favet

and morning us. Good joining Matt. you thank for Thanks,

in the invested Board With patients our standard and goal company of thank of we support, the all the well to details, to your like have patients. most epilepsy that listed our take approximately raised in and NASDAQ to $XXX earnings million who participated this I in Before April. and the to IPO for into a our of care the care say call next to RNS in get steps to also would and proceeds, you moment like team, our for making we which drug-resistant the of take like all thank again would all this I is opportunity Directors completed since. are of positioned net offering, entire we who acknowledge take would since first NeuroPace Therapy the to on who them. those our to clinicians I toward

our moving before chance vision to introduction updates the and on many to you with recent call story to our a had today's IPO an hear future. While start I'll NeuroPace, our of cover process, during for

Roughly, debilitating company lives the questions. epilepsy. results medical NeuroPace occurrence device we is focused will transforming on reducing of with by in the of people before epilepsy a Lastly, million the living financial commercial-stage seizures. open lines Rebecca United or an eliminating suffering from people the States X.X on the update provide are for

epilepsy are since to seizures. X/X people a control with line first medications are approximately of their as While anti-epileptic drugs are drug-resistant, unable considered available treatment,

of put these been seizures on to drug-resistant another, with As of therapy from million States. their struggling Many drug the X.X epilepsy failed medication and for struggling approximately with epilepsy the often limitations moving the are individuals one years, lives. a living that decades have people with there United related result, the effects effects in side

strive and reach lives help As we full epilepsy patients, a regain to company, their potential. their

is system occurrence platform RNS debilitating the and only Our brain-responsive seizures. first or reduce available eliminate commercially to designed the neuromodulation of

at device in patterns to preventing able by the monitors activity seizures. before real they start. seizures brain personalized Our programmed specific time loop with device to patient to continuously the responding is and recognize is close deliver associated The treatment source,

ongoing use providing activity live thus patient's as therapy patients into physicians unique they normal visibility RNS Our seizure records optimize system can to also insights unprecedented patterns, brain their lives, giving outcomes.

CECs While Comprehensive with typically practice, for and variety type are seizure of well patient's seizure Surgical specific therapies onset. based ablation the patients locations. for on therapy epilepsy. a Epilepsy clinical choices or can epilepsy offer resection of identified or drug-resistant be of Centers In considered onset location

or resection unwilling patients, approximately for onset, the the procedure. tissue the of only most of undergo epilepsy or However, brain are to destroying or be ablation candidates location their patients seizure XX% are removing patients would for at damaging because surgical too drug-resistant

signals RNS In physicians location, records throughout system only delivering addition neuromodulation night the abnormal approved Deep needed, when abnormal side to seizure is and duty patterns responds to neuromodulation a epilepsy, Stimulation about These DBS. VNS to RNS with from cycle effects. drug-resistant therapy helping NeuroPace it associated Only personalized and provide electrical not or devices Vagus or stimulation Nerve anatomical where to causing real-time optimize information stimulation therapy. the our the fixed provides to seizure RNS devices patient's with starts. provides trends, and targeted, Brain without stimulation Only related the them to specific FDA day activity, treat where alternative and two system, the by NeuroPace and Stimulation brain a there events that are system continuous

a for adult an more conducted seizure study study demonstrated And system and published system recently RNS years in quality living life prospective clinical enduring conducted of of our demonstrating dramatically with cognition. evidence showed epilepsy. of largest after We life follow-up longest reduces the through results drug-resistant provided improves also faster. nine developed and approval even FDA epilepsy, world and significant retrospective real focal The have results frequency neuromodulation and better extensive improvements quality that from in seizure body of the RNS reduction

Specifically, the the cohorts’ effectiveness study reported patient and an XX% follow-up, of therapy brain unique demonstrating reduction utility recordings in median seizure three across of overtime. years our driving improvements at

centers programming are our which using such We progress, which These their us their actionable million products counsel our optimize to us recordings and clinicians Platform, the over competitive We and therapy with drug-resistant capabilities launch, provide recording people provides allows nSight analytics continue leveraging comprehensive patient living which parameters, to practice. dataset, them recent effectiveness our a Platform EEG through with improve believe its our to X.X includes help innovate allow records. in platform continue capabilities to for intracranial data information advantage, to brain approximately learn After by as already improve better the and of monitor offerings, RNS patients. nSight epilepsy. our XX with along

today to annual expand United group an outcomes. we drug for market. X.X the in about use States potential brain for epilepsy have for addressable neurologic a the disorders, referred treatment XX,XXX XX,XXX to in resistant patients core indication this other opportunity $X.X epilepsy From market broader the Overtime, CECs by into NeuroPace our intend offer current specialists, of improved to represent represented in patients suffering and every billion patients participates of that $XX solution significantly large set are people drug-resistant billion. into potential with our Additionally, million market approximately XX,XXX our we increase addressable drug-resistant total with brain epilepsy a epilepsy. of patients has year from responsive overtime. more those indication meet resulting personalized believe platform The market

focal to We have for to year. XX clinical epilepsy expect study a indication an our patients enrollment XX and approval begin this expand to drug-resistant ages IDE later into

which Additionally, will to device common our in indication believe for this of we indication generalized were our helpful epilepsy, population. idiopathic underserved recently generalized epilepsy, epilepsy. type system We we into FDA intend RNS granted second be the the into patient breakthrough in designation expand expanding most

IDE expansion at referring increasing, physician States this double epilepsy for the our later United submit would addressable approval a awareness by of population study Indication the this to market. all and in of patients size refractory in of possible expect the drug year. available into also We options Market patient clinical therapeutic the is expansion CECs. advanced

patients Additional market in the through through come and epilepsy markets drug-resistant number increase treating with CECs and epilepsy expansion of outside States. can United expansion into specialists the and

XXX CECs built XX our XXXX, Clinical have organization we the direct with of RNS States Engineers In United commercial, Therapy States a field across consisting to the XX United XXX of approximately the across System. territories. sales Consultants Field and representatives, deployed implanted in Turning

of we CECs number System, commercial of implanting Our intend the efforts RNS XXXX. the by implanting our CECs end System our increasing RNS to XXX include have and

trend While and impact of our patient’s. regard a the a determine to commercial significant lengthy CEC opportunity With for that this of diagnostic fraction XXXX. second use on through inpatient EMUs to an and System digits coming coming patients meet the EMU takes reimbursement, This in to Today for a RNS RNS Epilepsy typically the timeline from it represents treatment believe for to coming by low at CECs, the QX. option, most evaluation in RNS of the a the we Because the the we our expect evaluation. improvement EMU six the our from System. of these medication. RNS therapy an centers COVID our recent started QX. implant. is until the evaluation System patients recovery diagnostic to through for younger or indication of admission the utilization into quarter is goes growth from CECs EMUs diagnostic months insurance. to we RNS diagnostic specialists use routinely number Because encouraging recovery appropriate In months, single second the we patient But or patients evaluations. of a compared more business System the of continue epilepsy Monitoring through does business, achieved coming have having most for increase increased the there this the expand COVID, started the to believe patients getting with through can be appropriate recent delayed are implantation not of In growth have prescribed of our within revenues spite that significant EMU adults impact the number see of typically of an of remaining the Once already only half We small System. at the initial to drug-resistant beyond for was CECs, Unit reduction

payers addressing lives in XXX commercial from positive policies have over million We States. written coverage the United covered

In has policies with patients addition, place, coverage. Medicaid less coverage and provide X% Overall, these for the than RNS become in implant. obtaining regularly approval positive Medicare of denied been have routine. And System

Lastly, average life to of I we when of to the would the we the our like life extended device battery doubling eight transition made a that the version generation. new in battery discuss XXXX, introduced an years prior of

decrease important model. as to battery the While life patients, longer years, lasting replaced the benefits several the over devices with from newer longer a revenue will provides are older replacement next devices

replacement expect XXXX. decrease to until revenues We to early continue

replacement our greater devices to that point primary XX% To in current to meaningful a will confidence replacement revenue It to devices to rate continue of generation start giving out numbers. source starts the increase, that grow Before replacement to is indication. historically this be our us focus summarize, revenue transition. greater following revenue growth newer than when and a we important replaced generated have is be from

and use. by to innovations these into increased States patient do We outcomes the at improve centers, this increasing and of will in to investing continuing CECs utilization United referrals all expand driving in ease

the are investing epilepsy, younger indications to patients expand with States. also epilepsy to patients into our patients with generalized focal United We outside

Rebecca, Officer. other therapy responsive I Finally, With NeuroPace’s over we're to Chief patients supporting the turn brain with that, the neuromodulation early benefits of the could Financial to feasibility will disorders. bring work that call

Rebecca Kuhn

result driven NeuroPace’s first replacement increase $XX.X quarter, XXXX, primarily the implants XXXX to compared million, $XX increase our over initial was unit to of revenue XXXX. Mike. replacement The revenue procedures. million, newer the revenue implants for of by of of implant Thanks an first was from is of from $X.X quarter X% our device Comprehensive compared the quarter in increase was RNS expected. million in for quarter a for It an eight XX%. an of of with to Centers the first of cycle longer decrease an XXXX. first is the decrease The quarter first of sales previous from of initial million, the XXXX Gross which battery for of the compared the $X.X of was first System the the was In XX% life, first implants to of our Epilepsy XXXX. double margin was Revenue increase as device, XX.X% life described. XX.X% quarter battery Mike year quarter in replacement

period. $X.X resulting the Our unit administrative million be by SG&A expenses, an primarily the The expenses, we events partially reduce from improved Loss to as company first in pandemic. $X.X of by personnel-related shift travel public quarter in as the virtual due year from increased, R&D general public expenses with as year the prepared efforts. from $X.X decrease offset first XXXX, the cost. by expense the the result expenses COVID-XX the reduction outside recorded a first our driven per primarily gross initial same compared in services in of was to ongoing the product a million personnel-related the of in first COVID-XX were in XXXX, the result $XX.X the our quarter million, margin our The production margin year. $X.X quarter of expense compared other compared and warrant in increase a convertible a by costs a in increase COVID-XX quarter $X.X XXXX impacted the field in offering. also to period due of primarily plans. increases of with million to efforts The volume Total of to including XXXX, sales, lower and reduction and volume fixed was reduced due in incentive first person negatively million of million gross first prior to from XXXX in our our XXXX. compared in company was of of production as in in In and adoption of an preferred new prior charge expense in was period. liability marketing was in operating value million, events R&D were and increase SG&A a an quarter to same The and million, support expense the costs, due quarter the and payroll operations to prior largely in increase non-cash driven payroll $X.X $X.X pandemic. with expenses, fair in million the was $XX.X period reduction of primarily

the incur of million for IPO we in to XXXX. of in warrant loss the the preferred of Given April, Net first timing XXXX, for quarter to charge quarter in million $X.X more first convertible expect compared $X.X was one liability late QX. the

provide funding our Our liquidity next resources long-term the needed for $XX.X support believe $XXX $XX.X current cash XX. of and years. to proceeds March investments was million. received short-term XX, our our grow approximately capital of will few from business We balance net XXXX this April We while the borrowings closed million, and IPO, on as totaled which million and

like to provide our XXXX outlook. I'd to Now, update an

pandemic. highly the RNS recovery Our in is continued global hospital immunizations, evaluations for on diagnostic on normalized anticipate to guidance from We sensitive operations, implants. vaccinations precede assumptions that including a the and admissions inpatient System progress resulting COVID

measured to early this, of first approach revenue on of total the second we the compared the COVID expect start stages recovery. the Based to digits to given to single quarter year, a a quarter increase continue While quarter take was first XXXX. low good the we

we year, year approximately XX% to million full compared XXXX. $XX total revenue of of full the expect growth For representing

decline representing Mike anticipate be to mentioned year approximately dynamics, full to revenue revenue million, replacement XX% compared a previously, $XX XXXX. replacement the of we Given

compared implant Lastly, growth $XX we expect representing approximately initial of of million full revenue XX% to XXXX. year

study the our for study this $XX I'd to questions. up, contribution. a million like the our enrollment we will clinical trials of point, start Operator, but of uncertain studies be revenue clinical includes As line picks the guidance turn clinical when will At in our open who to over implant initial the given these revenue breaking small call revenue timing will enrolling

Operator

Instructions] Thank Our you. question [Operator JPMorgan. comes Robbie with from Marcus first

open. line Your is

Robbie Marcus

good first company. as Great, on call a congratulations the and morning public

Mike Favet

Robbie. Thanks,

Robbie Marcus

a to just I'd quarter, on ago be the like it to seems to Maybe you'd and start, first love million comment. focused see if know future, I everybody's years able

quarter was for than guidance gave You low versus second that first little in coming up better a was thinking single I digits quarter.

out love in the today. to we'd So you're seeing of a sense what get field

normal pipeline to back your Thanks. normal my could would that on thoughts. getting backlog upfront; both and you treated operations should close lot hear, the – I'll patients be XXXX XXXX. and in normal, there's to love questions up the of just potentially building patients potential would Our above give of a in

Mike Favet

Thanks, Robbie.

We within QX. driven QX to as adoption really are by sequential seeing the put forecast, recovery. driven the not in And growth that's from increased really COVID we by utilization and centers

little a has stay through stated that the Unit, bit Epilepsy the in coming ultimately hospitals through for candidate are an a implant the patients we then inpatient procedure. being a and scheduled becoming process the As diagnostic and go to that earlier, precursor RNS Monitoring

We implanted. customers But that Epilepsy of patients six about the they they and time the is a in RNS stay that that from those device Monitoring Unit for month coming the delay are on through average, hearing that until seeing inpatient from first increasing. number, get it's come process our number

waiting from hear increased benefit from COVID of this Unit. is Epilepsy of There the are seeing And without recovery. get confidence of the really patients to utilization get coming that, just I year giving COVID into recovery. that we're today so our backlog and customers half that we again, at that and us second to Monitoring continue adoption will growth through that that's see that the growth With a

full we for that primes centers to capacity, the that what the And forward. future. for So get up the really us as as those means excited in you're go pipeline business about

Robbie Marcus

follow It maybe was quick helpful. And a up. just really Great.

You there's gave I a guidance for initial replacements. with know implants replacement. bit of and dynamic

we of anything year? And going fourth third or quarter. stands do the Thanks. to second, cadence in the the those through how think to two Just of rest about that point out

Mike Favet

of is that general few the year transition be the from when four What over depending or newer we timing course average in quarter-to-quarter revenue to the will as to The devices the XXXX. go a next life that through expect bit eight devices be years declining years. to the from revenue of the course life the replacement battery little declining individual unevenness see of revenue year that replacement implanting we life but on of next when battery for is to going the trends replacement, going battery we general started trend of certain end few reach over

Robbie Marcus

thanks lot Great, a and congrats.

Mike Favet

Thanks, Robbie.

Operator

question comes Stanley. Morgan next Ranieri Our with Drew from

Your line is open.

Drew Ranieri

questions as start the congrats first moment. maybe And Mike. on accounts a to your on and thanks taking just public Rebecca, Hi, new company, for a quarter for

I Mike, I me end. XXXX think correct year and you I wrong, I'm accounts think if around XXX by heard active but ended XXX

you've or kind beyond Could another current better of active? could onboarding prescriber but this accounts? noted accounts through the that you at adoption active that account focus your better XX committee XXX on be driving of there on might sense before give timing become a think is a in us year they more I process, have see even XXXX of of when the been you those can going

Mike Favet

implanted centers XXXX XXX and XXX, that will in had that expect we Yes, XXXX. here through increase Drew. to Thanks

the end XXXX, pace XXX So will centers, on to that. we're by had have of

it's do have comment the that the the we've identified, And into number the That's to that place we that and centers to to to continue for centers those and not implanting last ability interests so up takes throughout this also the time compared already of course System only feel the patients. centers centers contracting their have add the you pipeline get have that XXX centers amount but additional accounts year, through have at and XX in process year. of able the line that, with identified in to confidence year, expand that made, as RNS gone it of that contracts come ability in gives XXXX. on that we different And that to through us by driven a be confident

an utilization, the the we'll mentioned, bulk from centers – new the are we the to move product. forward around the putting having is are increased through on So that continue the catalyst important that expanding effort the already in at and you results using continuing those utilization of really that's XXXX. as to But centers our accounts as us of doing focus do number growth, and coming for additional are

Drew Ranieri

margins you gross come a below the year? margin? to But is of sounds throughout new the Thank you And quarter? the be posted on progressing going margin implants? better like gross you. there's half just thinking board. gross level maybe on the the why margins should the gross in how XX.X% first Having rest the patients those side, a about question margin Rebecca, quarter second higher It more for Just year reason are any with dip there gross throughout

Rebecca Kuhn

Thanks first were how turned quarter with We pleased Drew. out. the

that sequentially, for that to We over volume, Our year. in expect expect has expecting trending remainder balance it time been of do be this we that that, in gross for improvements some future of modest increasing we'll having But we're with years. mid-XXs in the remain margin year, mid-XXs. will said the this the up see the

Drew Ranieri

you last your on the touched Mike, Thanks. on it And one just nSight remarks. Platform. prepared one in

the feedback expect you your for prescribers? much you question. so Thanks think And said detail taking you I the get current little the Would more all centers XXX today. been has year the to about bit But just XX a by from to centers could you're how end? into at rollout? go

Mike Favet

the to over started nSight the in grow time. really Yes, using this Drew. at their approximately we're well a patients, adoption for the is for Thanks going of half Platform point, of the continues us I've have using, already and about accounts rollout started

of the be our there's there'll utilization, by next it's the of that across to all been quarters, that direction. And of we're year, say course but specifically XXX% the expect utilization be end it'll be the uptake. accounts. something to that standard in the going pleased that trending tracking really We we've that Not by over

device. power importance And the outcome important talked back the to physicians and way nSight of for able data that nSight feedback coming that reports we've offering the the for Platform, from As new report physicians makes really data a have centers pleased diagnostic easy really continuing to coming provided Platform to of brain very it. in the that's is that's we've be before, it by make been some data started them easy decisions on that the based just clinical that it the bring nSight the to the a device really from the provided from a and that report tool the do using and to patient make the

Drew Ranieri

taking questions. for Thanks the

Operator

you. Thank

Biegelsen next comes Fargo. Wells with Larry from Our question

open. is line Your

Larry Biegelsen

start I’ll and good my on year. to guys, congratulations the Good morning, a echo

appropriate expand strategy in get a I capture So well, follow-up. couple me, the that what’s RNS, stop there, the the And within Mike, active but from Mike, and had are I’ll and secondly patients CECs one, to today. don’t utilization a treated account, then for – per prescribers

Mike Favet

of we’re business the their Thanks, that that doing most utilization into, last the of growth is just relatively year, the focus within devices expand is, for to small one, the epileptologist that FSPA, the with way at are as the system that center it’s that within that number hit XXX at the increased Larry. prescribed centers. center most coming for is we’re within epileptologist where Today, through we’re The of primary prescribing Comprehensive focus patients. those the centers, for the of the step Epilepsy implanted Centers. broken doing these that expansion a – on staff, The an is number you RNS of centers

the talked So of therapy of education helping the real out patients within were patients coming use from to the discussions and them evaluation those of getting that results I is physicians, in physicians to those feel trial for confident identify turning to information to those the through some and a appropriate published the the is those their patients in clinical outcomes year the important. that expansion more last to really that about routine them physicians. of about data study. physicians, They utilization. is training previous We that and few and world of getting to device mean, all that start initial epileptologist then

And that’s ease of really the data, awareness that efficacy as system, the so broad in then and of again, component within coming a through for competent across patients education, feeling of supporting indication, range our the clinical is important use that well.

to take how getting get it optimal it device the simple to for it’s to data nSight the like outcomes know make to patients. that the for we’re that experience programming, their with the adjustments the making, from make how physicians advancements So the Platform, that really the and apply back to

really that’s driving way the and that the those the so centers. And we’re focus at growth

Larry Biegelsen

for more to are are million That’s CECs. today you to you million patients helpful. the Mike, mentioned X.X taking referrals? outside X.X level And majority, earlier, drive What the steps

Mike Favet

XX% are managed approximately drug-resistant X.X There Centers. of patients Yes. are that physicians by epilepsy of Larry. today being Epilepsy Comprehensive million Thanks, the outside

in today of early We’re the efforts. two stages piloting specific

is of One physician them around education. referring awareness

it’s So Epilepsy benefits are that that those the the offered the identifying at of the them providing therapies information physicians to and are community patients Centers. managing about in Comprehensive

tools then other developing that evaluating some that creating we’re activities also around awareness. with And creating that channels. and piloting, awareness direct team to in We’re doing, the and to for do the field referral around piloting some is those education is our early some which and work starting stages of patient

community early stages that identify at that by treatment of options. helping in to Centers, create those just patients we’re in again, the Comprehensive interested that And physicians Epilepsy started can patients programs the additional marketing pathway digital we then So get seen looking are piloting, that really in referral the for XXXX.

then going that the We’re be able we able that successfully future. that make that adoption that I’m there’s learn do to adaptations as to a number sure will and and of things that and way we’re from that the learn and expand be identify to we’ll the to expand mechanisms to approaching in

Larry Biegelsen

taking Perfect. Thanks for questions, so much guys. the

Operator

Thank you.

Our Danielle Antalffy from with next question Leerink. SVB comes

open. is line Your

Danielle Antalffy

good over company, so as it. Thanks on call much there. first the congrats your I morning, Hey, quarterly you very everyone. for echo, guys for Hopefully, we question. taking appreciate public earnings early Rebecca,

want Just of I clinical or is pushback actually a are are follow-up when the first I question, is like other DBS? VNS, the guess, think the of benefits data, resection pushback? seat device or versus my points about, what the question Larry’s a looking looking are, you from points at – What where physician to – in the of it, starts the right say that Why at guess color are it to use appropriate physician Is barrier? there. in patients? more Just where this lot using a all that’s epileptologist, to away? more trying getting the the patients using understanding patient the Is the it a love little understand barriers Just patient don’t selection?

Mike Favet

physician. of you that starts in the I from barrier would to need to general, awareness the clinical thing Yes. Danielle. Thanks, varies data. with as the we But would is say, expect it The physician first overcome

thinking That’s mood. that about studies Getting that way changing they works managing about that life outstanding therapy have those published to seizures in because we of that getting quality understand of and think I important what improve how those you, and these with it’s clinical to really this data so cognition information reduce agree they’re these I the it’s the physicians benefits patients. and So and information are. well to

response drug drug that So for that drug therapy primary get to therapy aren’t it’s those effective moving treatment that from moving a are able a additional to of on therapies and response therapy. to mode and being adequate from proven patients from mindset the

physicians, of patients their for it’s to works, their it started the those important. component about For building device into system clinical able and practice, that prescribing their those use sorry, I’m fit that ease really confidence that is they’re way within started patient, the that the

that. it’s follow-up then really these a become a part And can standard are Platform The in. to nSight So selection. do patients is tool just that coming it important be to routine their of for patient able that

they case are that’s can to take candidates, treatment be within that appropriate review to conference for patients centers, done identify identify these confident for the feel them helping it’s able appropriate the they So can and the their them. that that

them of just medication. to a part number to with there’s a that therapy do to is a getting response be option for from patients an confident lot this aren’t able So get a going But their standard it, those has as that of routinely they’re of step. that to Danielle, presenting

Danielle Antalffy

it. Got

is refilling more capacity. the And the that, diagnostic thinking is XXX% refilling centers Okay. And then through about? follow-up thank as above backlog or referral and the these Mike. centers for you funnel you patients be talked that work about one this we operating on for of the Should of at then that they diagnostic me

there an going And in the of CECs so of of work air into coming you to as more the the maybe through. the have shouldn’t of backlog once sort it’s much into through numbers do high back see like streamline has funnel patient worked way this the of but XXXX? Or half pocket unusually be backlog, growth a year you through it

understand cadence about sure I to Just make here. the tried I

Mike Favet

yet are for surge able be question, a backlog more to patients be that, answer whether Centers interested be going and the Danielle, capacity, to those Comprehensive great What get and to we there centers one the quickly. to that through that’s their to are of determined Epilepsy is to able a in patients available to that I’m efficiencies bring more Yes, of anxious into diagnostic are very increase evaluation, create centers it’s know coming and these as well. the

So know anxious very that the out. to I know we’re answer we find to don’t – don’t

their these a that We’re trend, out longer know able monitoring the of able and they and continue capacity patients to Are a they’re and the positive. historically, positive term that’s centers. have to that practice. seeing been number the going be to going A these be epilepsy bubble of will more do patients to yet. know within are answer and to beds Don’t into through coming expect that of centers and efficiency have the We there’s to unit centers surge of the centers going that’s that that number are improve capacity? we the those of more centers hopeful coming epileptologist be fellowship been number has up, expanding,

Danielle Antalffy

guys. Thanks, fair. Totally,

Mike Favet

Danielle. Thanks,

Operator

I’m back remarks. And for this showing you. currently to questions Thank Favet turn further closing Mike the at no time. call I’ll

Mike Favet

time industry I investor day. of the many meeting Thank and individual a you for forward again future your with Rebecca and in meetings. well have you as look today. at to you conferences as I great And hope

Operator

Thank conference today’s call. participating. you concludes for This

You may disconnect. now

NeuroPace (NPCE) 3 Jun 212021 Q1 Earnings call transcript