SGHT - Earnings call transcript Q2 2024

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Operator

Good day, and thank you for standing by. Welcome to the Sight Sciences Second Quarter 2024 Earnings Results Conference Call. [Operator Instructions] After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to turn it over to your first speaker today, Trip Taylor, Investor Relations. Please go ahead.

Philip Taylor

in participating for you today's call. Thank are Paul Badawi; today Sight Ali Sciences' Officer, Executive Chief and and Co-Founder Bauerlein. Presenting Chief Officer, Financial Link. is Commercial Also Sciences' Matt attendance in Sight Officer, Chief for today, the XXXX Earlier narrowed adjusted year for and expense revenue released XXXX. Sciences financial and X ended June Sight months XX, guidance full operating results will A website comments like questions would everyone that forward-looking at made answers the management include to securities release and available is the the press of within investors.sightsciences.com. I copy on company's today by meaning the statements federal remind to of laws. opportunity strategy statements the These account to ability share, forward-looking ability product rates, achieve regaining coverage markets market new of statements impact anticipated strategy and to to infringement disposition include the ability case. utilization on flow engagement, results commercial pricing liquidity cash related proposed achieve results, expectations current performance, enter position payment rules to trial and of and capture financial the and market and and operating regarding and even, momentum, company's long-term break the and objectives, patent strategy, the reimbursement, and clinical strategic

based financial XX-K no of XX-Q. the quarterly are are statements the promises section operating publicly Form including law. On to financial and unrelated important the measures because any of The cause prepared are and of expressed found this those Generally items believes its refer Principles with could States, non-GAAP call, company accordance actual forward-looking in guarantees these or indicators A the assumptions revise Factors that The on as by to with from Accounting as Securities statements. neither management to on indicative Accepted actual its annual on for company adjusted be company's materially will report subject as information well that to not reconciliation non-GAAP reports results. in be expenses. those financial including Commission, the public of of description that by may that not exclude operating risks are measures, on to undertakes additional the some See update of differ and today, reliance they call are directly United required financial may results operating Form company's this financial performance uncertainties can obligation forward-looking statements may uncertainties over the and from by measures call its indicated except materially Exchange measures. I estimates these filings were nor the the earnings of Risk and risks comparable to cause core about turn on non-GAAP statements Paul. a to and Forward-looking to measures results company's the most release GAAP as now in these differ or and implied

Paul Badawi

Thanks, Trip.

the procedurally Our that execution people mission as the providers quarter Glaucoma of care we keep interventional our of second our represents to continue which eye we technologies was consistent interventional allow drove critical Dry In ordering the standards the our for in products. sequential a access segment, segment, eye represent and quarter results milestone our dry to data advance Surgical published, treatments. X increases developing equitable number support Eye throughout in transformative commercial of elevate empowering year to SAHARA and seeing. utilization accounts of care, to establish market In efforts the operational

in drivers. allowing management. Quarterly declined compared critical and of excellence Additionally, we cash while for we all diligent spend continue to reflecting disciplined our prior XX% expense almost prioritize exercised to as the value by solid usage year maintain still operational investment margins period,

expectations. quarter, sequential the growth line our XX%, of reflecting with million, For $XX.X in second revenue of total we generated

long-term double-digit detailed shifting goals of turn interventional our are We a growth, adoption both execute our by more with continued driven excited now the segment. Surgical and to about will discussion of paradigm to business reestablish technologies. I our on tremendous Glaucoma of our starting opportunity segments,

with $XX.X same the XX% compared and quarterly revenue sequential million, performance pleased our Glaucoma quarter growth to expectations tracked prior the XXXX. compared of with in of the sequential of We half segment XXXX period Surgical growth this representing first of in confident as improvement to our to are remain we The year-to-date in the in year. double-digit second

May nationwide. part proposed of OMNI technology coverage effective and is use of critical recently that their the important treatment eligible use our who our in an continuum. the for is surgeons to if form, reminder, to be draft from glaucoma procedures SION would We current continue become believe a OMNI thousands As Medicare and LCDs technologies the routinely

procedure used published, final rate payment OMNI is procedure. final quarter appropriate are of in procedures rules expect until proposed we with confirmation XXXXX, of has front hospital We been are occur high-quality, of to on as continue which considered the a CMS Proposed the to for rule grant profile not proud status status OMNI's our and a ASC technology believe XXXX. We peer-reviewed along for clinical Payment CPT code the fees. in report been initiative which a and long-term rule extremely to technology fourth for this Medicare professional demonstrated payment reported differentiated and XXXX appropriate increase our data, for outpatient facility related in firmly that reimbursement physician the to company. long-term will ASC code access support believe population. Separately device-intensive importantly, status patient Medicare's and in These the the we and always proposed The currently July, receiving for Rules for OMNI to published is comprehensive with device-intensive XXXX procedures the has

XXXXX. As part of device-intensive access our worked OMNI status diligently efforts, we have establish code market for CPT to

XXXX. to approximately XX% in finalized to ASC very value facility So, a status device-intensive or rates will for with increase Medicare's finalized for MIG device-intensive Medicare's is are goniotomy believe payment economic this code ASC would X, implants OMNI meaningful perspective rule we an this Should for If would CMS. from of from both for January this the it a be we compared be effective pleased proposition XXXX, stent this facility proposal status enhance with result technology and $XXX procedures. payment versus development that code, our

encouraged by and this provide once We plan to is are development rule further updates published. final the

solidifying accounts orders this the to long-term focused surgeon Now, last during utilization believe which include that progress and accounts business, uncertainty on period ceased year. we success or steadfastly the across drivers made that initiatives decreased a with key increasing the reengaging for all are strategic segment, critical LCD our I'll focus against we core Surgical remain Within few Glaucoma our on quarter.

are new increase and will be surgeons addition, trained the In we to working OMNI pipeline on SION. of who

Looking first at utilization.

differentiated primary patients. our has of technology the before, surgeons open-angle made As leading minimally a for of across spectrum discussed disease glaucoma technology the OMNI managing invasive efficacy severity interventional

SION believe which accounts the are to have up the utilization recent with already OMNI improvement importance in is increasing the quarter and and We first to a and surgeons Utilization reengagement of successful XXXX. past on ordering using the accounts been X% utilization OMNI We patients. Jumping here was to over testament focused benefits recovery their evidence quarters. of unique from and and of of X,XXX quarter, X is surgical customers quarter the flat products has up second the year from as the of quarter products the we momentum of quarter of ordered In compared of an the XXXX, our and number X% in second of in progressed. highlights first first increase XXXX, glaucoma surgical the experienced to accounts the XXXX second quarter from growing accounts. glaucoma XXXX. with ordering

during progress in OMNI expect While highlights the number, we marketplace. SION quarter positive to to a that work importance of forward are to continuing our trend increase moving and this again further represents continue and this we the

for training. newly the through are to growth base surgeons environment mindset trained the glaucoma year, towards proposed surgeons nature proposed the The increase competitors on would Increasing an on of SION. In growth surgeons OMNI of the reimbursement interventional and increasing OMNI first be surgeon over the clarity As strategy. OMNI the our following versus overall and normal for of to organizational continue progress we in of procedure, LCD over more improve a is OMNI economics our enabling we facility the XXXX, vital that trained important reimbursement believe We that new of step aspect on glaucoma, number well among will we've and positioned due surgeons XXX a optimization. shifting the growing we half surgeon is be are trained SION. the comprehensive on our scheduled the XXX continued to

RCTs and to technology, strategy. three-pronged long-term established inception, its Since an the mission market strategy; interventional superior effective dry Dry long-term Now, turn best-in-class of I'll supported of Eye our outcomes clinical by business. delivering pioneering eye with a our field developing access executing we

dry over transformative disease. TearCare developing or cash-pay addressing eye has the cause disease procedural in for over thereby TearCare operating the dry root meibomian spent technology, directly an evaporative with comprehensively, our gland MGD. disease. there of diagnosed patients procedure estimate technology cause have TearCare procedures and Meibomian in the eye The and million used are despite We a disease environment. glands U.S. targets We eye MGD, decade a patients leading effective of XX,XXX option XX been with enhancing dry certain

previously endpoint. endpoint. data coverage the foundation evidence. SAHARA disease and crossed and taken X subjects large our of growing SAHARA dry based the for this, the been determinations. TearCare. clearance published eye for RCTs lay over TearCare benefit the One, designed RESTASIS to of designed who symptoms Over XX-month their single establishing results market-leading the RCTs study's II in signs RESTASIS off signs access equitable the dry technology the second for will access of treatment. for procedure. primary from patients patients for before TearCare then our therapeutics, X eye market crossover for strategy, improved demonstrated recently and demonstrated RESTASIS, SAHARA, RESTASIS. The treated on primary X has Most of deliver dry the prescription Phase recently, receiving These significant XX-month of we third disease. RCT, clinical trial the the who and our purposes from TearCare RCT We can the past robust body with subsequently further for serve over X- SAHARA executed market leg payer from regulatory and improvements met and we the Both a our published of as the statistically years, other From months and RCT, three-pronged included experienced were to for the which The eye symptoms objective of superiority continue those foundation

of to whether TearCare be of to same published publication trial. the the the the frequency suggest or and III treatment significant not of phase efficacy trial first of expect the be through The study requisite month X appear on RCT, month cohort we clinically the X and of a needed. that be XX patient endpoints The the phases SAHARA TearCare to as to a as for and the used SAHARA that months or milestone treatment TearCare with of and results third XX this the follows in disease. The RCT will next for similar expected crossover secondary and the eye final of be prior treatment when goal gain repeat primary SAHARA it is treatments RESTASIS more clarity of impact cohort could XXXX. is had clinical results TearCare dry Phase

our showcases economic In continue With analysis the from analysis having May, the budget also only we with TearCare the recently early supporting in impact with and phase we support to International final TearCare to library savings with are our impact system trial Research, build the clinical payers. and data with conversations we hand, procedure. Along clinical and results Still, the the it pleased we for Pharmacoeconomics are response already believe health data, the Society model, at our our versus which from payers. our excited for the to presented on we have of will Outcomes TearCare begun introducing compelling data X-month RESTASIS. are and for growing ISPOR, discussions XX-month meaningful and the

we to of RCT, the positioned ensure appropriately we have economic successful value reflected. intended, of procedure that the following the and As our results SAHARA is have clinical always technology the

As TearCare's grow, continues evolving. to investments body are and evidence value our of clinical proposition also

be demonstrated of both II procedure the we'll to structure model. analysis, Phase reflect accurately and clinical as our of I thorough pricing and RCT and health budget SAHARA value a more our the economic impact in the TearCare Following Phase modifying

of customers X, TearCare increase, We have price XXXX. October informed will recently which existing effective the future be

payers compelling in of technology. still and We the eye to price show expect to has supported increase to our economics manufacturer at over per evidence would invested list commercializing the developing as reimbursement and that to by $X,XXX $XXX well our TearCare million value set Sciences care and patients, as level SmartLids. Appropriate as Sight providers, this

to Our strategy focus on for targeted within and XXXX beyond rest of dry shifted reimbursement. and the fair a has eye equitable achieving

We long-term case-by-case the success. doing we remain now drive perspectives. policy are we encouraged and had work basis to payers coverage we which evidence strong To economics to toward point, from to position do coverage on the a solid demonstrated we a in with health number XXXX. track track broader scale believe economic establish and and paid we've to forward coverage has hand, Level and a well commercial small put of a with are believe by TearCare foundational with believe are clinical begin continue commercial and on larger and payers, work critical high-impact us we needed payers data on Medicare. The now on X we conversations have claims decisions conversations positioned clinical of drivers are positive both health receiving we in established this benefits With peer-reviewed

growth. interventional to capitalizing As we of feel our to ability to a with on will Surgical forward currently We positive over capture and and and to the to a are to from double-digit them upcoming new markets return the develop turn Ali our call strength Dry delivering now market and share, financials. drive future, discuss results. I long-term we catalysts look represent successfully. remain the execute Eye to we Glaucoma opportunities committed goals look significant to position operating

Alison Bauerlein

Thanks, Paul.

long-term equity I excited turn moving We to are I strategic on goals continue operational plan the that even to these Before need and execute cash want mention achieving we both in our are and and quarter second additional results, opportunity. to financial about without to growth the support forward. flow our raise to our goals confident break capital ability

expected second in comparable XX% selling was compared year. $XX.X This quarter sequential XXXX. revenue and quarter average Glaucoma XX% X% versus utilization period up primarily period quarter compared growth back quarter. and X% Surgical Moving $XX.X decrease a second million. lower driven was second was the the in the to quarter revenue second to the first versus price decrease by the of prior to in the down XXXX. an Total the reflects This of and the year same the prior lower for of the million,

in operating XX% sales in per period and due prior Our operating expenses, SmartHub down This mix to XX% offset of the lower expenses focus compared decline prior operating decrease XXXX, commercial on compared to $XX.X the which reduced second expenses was our period to gross second same strategy period primarily infrastructure the in declined leverage product XX%, compared planned sales million, second compensation a and for and second which million quarter fewer same year, the achieving quarter Dry flat production expenses. the quarter new down due prior sales compared year. the for the in XX%, second revenue as increased and to prior market in the volumes. Total as XX% mix. million, costs of quarter XX% the the the primarily in XX% lower unit the second quarter product second segment, overhead of the to to year, higher improved second access. Gross to $X.X $XX same expenses from for a Dry margin same reflects quarter for next Eye gross primarily was by in decrease $XX.X Eye quarter our same compared to the in prior was partially of the related a were the to result million current the year. margin to Surgical The stock-based slightly expected million compared period in by the in the XXXX. of involves quarter year. Glaucoma due were operating sales Dry in expense Adjusted for second was phase of personnel-related Eye period in period due the XXXX to in XX% was decrease primarily the quarter, the reduced of the accounts margin driven $XX.X

the was for from loss million Our $XX.X of for million $XX.X the compared loss operations quarter second a quarter XXXX. of to second

$X.X loss net the of for $X.XX per share Our was a equivalents quarter issuance improvement, million operational in the million This of million the debt quarter $XX.X quarter in net of second compared and debt reflecting costs. cash million was quarter, quarter and used ended XXXX. We $XX.X or the of and than discipline. continued XXXX. of XX% per $X.XX $XX amortized loss of or substantial the We the debt, million excluding cash $XXX.X cash second second used discount a million $XX.X cash share with in second less to

not any The case in in is judge's reminder, a jury the established include to damages patent awarded the to ongoing determine ruling potential As monetary our royalty our appeal. verdict, enhancement subject is confirm Alcon. and successful verdict final trial this against and/or infringement jury's determination still pending damages any does

regain for Glaucoma Moving in We outlook to the full and to customer XXXX commercial period base. double-digit year compared Surgical revenue XXXX. prior growth the second the our expect expand same utilization year of half still in momentum our as the and we

to October revenue the impact expect a second in and significant value we to MGD which approach have treatment pay economic category true right in However, dry of eye a the growth care. to create believe decrease negative is capturing XXXX, volumes a new of effective clinical market of our will We in access half Dry we TearCare, to XXXX health increase transform and believe X, begin in with the Eye due expect significant this before pricing we XXXX return eye cash on wins. the

with strong commercial see and TearCare an Eye presence. expanded to expect Dry coverage We growth in XXXX for revenue reimbursement

We quarter. be million Dry XXXX less revenue the expect full second Eye year the end including through achieved to revenue $X.X of than $X for million, of

representing we XXXX. are $XX from narrowing range our million approximately million for X% result, compared a to to of expectations X% of As $XX to revenue our million, prior to $XX guidance million to $XX growth

comparable up We with seasonality offset utilization OMNI and expect year, the compared to lower due third to quarter increased versus driven slightly XXXX the existing be to primarily of and accounts, demand. XXXX, in down quarter by primarily new the revenue second typical TearCare prior by period partially

expect we will mentioned, in As in when demand in the the of fourth the XXXX, the pricing effective. result for TearCare quarter new new pricing becomes structure particularly second lower half

Over believe mid-XXs. gross do long expect or we be is the term, equitable adoption not technology gross in margin, to the impact respect established. With margin we fair will reimbursement once the of to continue and pricing overall demand to

However, our cost half incurring due second planned anticipate increased the year the builds unit we minimal Dry overhead in segment. per Eye of to production in

for execute on We our to the long-term million We $XXX prior compared on focused XXXX adjusted our Dry X% Surgical market future. Operator, the as open range we Glaucoma build operating million to further and full and from questions. million, expanding to please for for $XXX and million goals remain line Eye XXXX. to and deliver expenses our for penetrating $XXX of are of to approximately expectations our X% year narrowing a $XXX guidance decrease representing

Operator

first time, comes question At the we this Tom [Operator Stephan Instructions] from conduct Thank line a of session. will Stifel. of Our you. question-and-answer

Thomas Stephan

it compares the that to growth out start the about your comes in that CAGRs, if with mid- implied the and think, to high XH run maybe I I'll to half, low-teens for 'XX. Glaucoma for I to business, CAGR Maybe and for single-digit Surgical second

why talk potential you on can the X-year half for maybe Glaucoma a Surgical back in about deceleration CAGR basis? So, the

Alison Bauerlein

can take I that, Yes, Tom.

impacted So include the LCDs or seen OMNI XXXX, dramatically we've SION. not in restriction LCDs obviously, ultimately in favorable did coverage proposed And particular, associated more withdrawn. that for proposed were we with that were recently

of back of So obviously, second half XXXX momentum growth, double-digit that in and and to get growth off recovery in to XXXX that base. our really impacted and particularly regain was the our that focus

growth very both we And expectations growth proposal of with to double-digit device-intensive, just of looking executing be to. That XXXX XXXX an efficacy do back and which the overall in nicely terms so been very do of believe recovery as farther LCD that Surgical accelerant really ahead to we've our and clarity that's tracking what for of beyond we as into we're proposed Glaucoma of have to set first half expect half in the the we revenue in a could and us procedure. is XXXX. second And now profile comprehensive well our OMNI up as be

over we we up impacted executing we plan if success have back XXXX. period, XXXX but of been are were So time in you like course, that in set we for look that and feel for

Thomas Stephan

follow-up, my parts, quick. X then And pretty both just

able growth about First, gets Ali, are the you're guardrails that talked revenue maintaining you double-digit the break then, if to in rough prior X expectations that run some rate I you XXXX what's to think even flow a there? provide maybe cash you've calls? And

Alison Bauerlein

Tom. Thanks, Yes.

this a not over that. our It to little So and gain market. we to today give ability guidance. do us share confident for continue time feel grow But do prepared at to be XXXX very in to level, would we're premature a high

have As we should market. see we've lead as that for well we significant in range. as double-digit over And time combination before, developing large a a that both OMNI to many market said times that cataract do stand-alone market growth

strong and execute to have ability growth growth continuing beyond. our to we return belief in So, to plan that are XXXX on and to in

Of also achieve we of is if that can wins. access TearCare market an course, growth accelerant

on flow, even. rate haven't question to level revenue of seen that's when needed we million, this you've usage what and about last cash so so $XX would break you the something over for target flow type your you improvement particular down to had $X cash we quarter run cash years that And yet end XXXX we million. of substantial see had out around about any we of very significantly put be cash about excited XXXX of utilization. achieve in make really look beyond. And But when if us we're And of X.X that since second cash XXXX usage the

we revenue to So, regaining efficient while goals. funded we side are properly our also expenses, on a spot. and we're our reach been like with feel momentum we great We've feel in very operating the like

Operator

Our you. comes Instructions] question Thank & [Operator Company. of next David line the from Saxon of Needham

Joseph Conway

Maybe Joseph on David. picking on cash is This the up for just burn.

of you eye give what I while burn? you could the thinking make access dry maybe If investing for second glaucoma half team? leverage the about color there expectations 'XX in some for improvements building your are further or cash maybe are guess how also you expect to guess, market business out driving I and the

Alison Bauerlein

And question. as the for to in of cash burn half show expect well. do the Thanks in to and XXXX second over improvement both time, XXXX continue into Yes. we

that those So the to be continue to company focus a is with of spend. our plans to efficient execute on and

the that's plan. So

the part cash on burn have those periods, any the executing appropriately. part what maybe think question? second targets I we but missed of was it. been We specific of in And provided haven't I

Joseph Conway

answered It eye. glaucoma thinking just and how while Yes. business also driving of I kind think you was I investing in mean are about leverage dry you it.

Alison Bauerlein

Yes.

we R&D built as success. in is activities to key, to are well important our long-term think that for continue our those into So both assumptions that activities our commercial invest as

XXXX. in built So will dry our that's investments into of models. been More come the eye

added work in in to see partners go additional regions we those market then the with into will markets, wins those access spaces. target As specific we resources

and So a impact, significant to are that's more a That's overall investments. planning. incremental less but impact XXXX of shift a those our not XXXX of expense

Joseph Conway

are the just is TearCare any terms have or their that of kind other practice one in paid I been doctors gotten volumes seeing the And in of you stable they out, other drive growing? claims of there? what claims for more, adoption? there seeing are Have then practices maybe doctors you or guess,

Alison Bauerlein

very paid process still So, in early of TearCare. the getting we're for claims

still it very innings. of we're at pleased we're is seeing a that While reasonable being low with, early claims very rates much level paid

saying payment driving So, really there of and are this volume. are point but this time, extrapolate is overall point. that at these these establishing a that we anything claims or paid coverage still that's about point, not would this At at out that very small over

Operator

am you. from [Operator Citi. showing Wuensch question. the line of Thank Joanne Instructions] more Instructions] Our one [Operator I question -- next comes from

Felipe Lamar

could Felipe got compared really just on stand-alone And your going once like I then with OMNI stand-alone it adoption the you in is and for usage if start This I terms just Joanne. in combination mix you of was like shake wondering procedures. a on guess, reimbursement, implemented? fees are to facility competitors. bump you those to significant you're think of do out where seems

Alison Bauerlein

Yes.

we or combination cataract I at At a the stand-alone look take procedures. us, high stand-alone have to So can claims a to specific level, that. procedure know procedure market somebody volume data for don't specifically whether a is doing

visibility. specific have we So, don't that

done estimate for basis. more done cataract claims our on do a are the and are the of stand-alone about procedures basis. that about at the we on XX% combination XX% When done in are entire look it's stand-alone procedures data we of However, X% with like space, a

part key we are second that a and was... part potential over stand-alone we developer of that this question key see a of certainly, for market time and of growth large market a So us. And your the as again

Felipe Lamar

got to your your you because on expectations facility updated biggest adoption compared competitors. fee stand-alone market in it bump especially with seems the Just like the the facility for fees,

Matthew Link

Yes.

time. the late at to October, in early still Just that final of which proposed half second we'll pending, still November, year, so is to and learn pending further expect approval, the the that's increase we commentary so clarify, obviously have

specifically, not in to is broader CPT XXXXX for does out the call could the the other OMNI. That proposed in think code. that thing with conjunction is by the reimbursement applies utilize enabled I it to often to procedure it increase apply stand-alone

is some definitely there correlation. so And

interventional as when intervention and broadly, the encouraged said, looking glaucoma mindset, we market are the continued I very we're think procedural stand-alone an of and to Ali think by I opportunity. More care look see that we opportunity, continuum the Sight earlier the development stand-alone continue use specifically to how for to growth in contributor significant patients. of at at OMNI a

a We purpose glaucoma, the and clinical the for also the that to best patients. treatment in of those in sole clinical treatment surgery of believe profile ability the stand-alone when demonstrated terms for the case, is provide available OMNI of is significant efficacy

with So stand-alone facility team's determine OMNI these pleased provide to and with the certainly, continued further we patients. and of to XXXXX rule acceptance proposed increased market's overall, and and stand-alone going potential what to overall we're stand-alone that going growth for monitor change into to we're further -- a of and But think and of for effort terms development the procedures payment continue could tailwind our interventional in device-intensive continue type payment adoption market. market the the utilization

Paul Badawi

And this Paul. is Felipe,

large better clinical to that scale. get best to in stand-alone eye effective with And with ultimately are to has and we're invasive, disease to demonstrate add drops the interventional eye happen, years, to real-world get In progresses. data particular, glaucoma treated on the trying manner patient more minimally a happen. Matt's comments. for has to This long Just is term. way Ali Their earlier for SLT, in maybe they'll It's a safe patients and intervening demonstrate inevitably What's that? drops.

XXXX, average surgeon. in is OMNI able see mine to of hands and so cataract have OMNI large-scale the now since benefit stand-alone in the that with settings. in both the real-world And glaucoma we in we to performing launched used of how the being OMNI, been it's evidence patients And combination stand-alone

XXXX. Registry, middle hands Hopefully, the we'll to a as really the is And is think This real-world real-world exercise effect to of so helpful see to some glaucoma able the we're analysis that market. underway. We're develop we'll using publish see procedure the OMNI's critical submitted for about of to be few next it. IRIS I on evidence hopefully, it. surgeon tail stand-alone we're Hopefully, to surgical OMNI the to it. potential is this continuing publication, the patients able quarters. be that end more in evidence hopefully, of is next in earlier stand-alone it X X in in going of colleagues. to Actually, be see the stand-alone performs that an next and of in months think the excited I intervention in for And number get considering And stand-alone within how performance who

Felipe Lamar

just be kind eye, could us going how on with commercial And an of update on are payers, that dry would you then just conversations if give helpful.

Matthew Link

Yes.

So, I earlier all communication commercial comments also we're with administrative payers, contractors. the and not in just conversation Ali's days echo think but still I'll that our early Medicare players,

we've encouraged we're to So, conversations the by had date.

Meibomian and the the of the TearCare. clinical is and that demonstrated have reason category of the TearCare opportunity hints the economic with dysfunction these to to encouraged and I think the we thing conversations positive, with point nature evidence of on for we're gland the that patients important being creating really fact benefit the quality unique

payers. but category again, encouraged So received in early those into the we're well this being by currently and conversations, the made that ties data with Sight are having investments the Sciences conversations in

Paul Badawi

of treatment That's And in May. And just the compare the most was specific discussions, That and of TearCare significant improvements driver all treated symptoms. they're been analysis. impact the be positive. Phase SAHARA lastly, with the RESTASIS. then and we that's and TearCare coverage, very we budget impact head-to-head add further by recent all very drivers That's RESTASIS for doing for Phase model, the X kinds a of that's and treatment coverage submitted Matt's cost-effectiveness key to X been drivers single is now at crossover see, see II, us, months, published final published. arm X comment of patients and enthusiasm TearCare coverage around positive. to with SAHARA right they're through a other the driven where just versus X-month how cost completed TearCare And in publication, RESTASIS XX

next So the analysis next published X that's conducted an maybe be will that submitted recently and publication within hopefully, X to we've year. months for hopefully early

conversations So, and and II, ongoing. drivers to analysis, with Phase critical that's X, Phase SAHARA impact having productive coverage SAHARA are model the cost-effectiveness budget highly those

Operator

[Operator next Stifel. Instructions] Our question you. Stephan from Thank Tom comes of

Thomas Stephan

these again. my I is, Just arrive then from how significant step assume sense, there that the make main at at doctors. you a actually, to it price? is makes follow-up that helpful. payers types of fair guess, reimburse I there will guess did of And is it's And had for on current as but number of strong a up question a hopefully, a any dry that the would sort level worth levels to color confidence eye specifically, first, X-parter be pretty $X,XXX it

Matthew Link

just the Tom, from Ali increase. quality of economic is the land. really is but comments obviously, of the Obviously, to timing the a view some weigh compelling I drive own And I'd still it's the for really plus clinical made, Paul had and that its Paul utilizing data from Matt. completing can the standpoint. just the actually where the it's what would publication the analysis, turn this seeing savings of that with and analysis, to not is study, which comparison it's in. health the the I'll evidence take doing model a associated enrollment publication, are then and of informed impact what pending the of first ultimately, price the right the sequence shot guess, data publication But at important. we And and submitting strength in the health and economic

setting, you're internal that implement very judicious analysis. approach very a to to question which A well, the and implications been practical what that. advisers you in, real-world think to the as data, I in what's clinical to us in lot speak asking of is the to part So, group of benefit a addition fortunate this truly about. we've have thoughtful understand to We're when able of

about are. good where feel we so And we really

in we're response questions, earlier to discussions other As stated early with our in payers.

period. the this are everybody and supported of understands think asset. process transition I the a those in the But nature conversations that the price such analysis is

Operator

showing further to back Badawi, no to I for Paul am you. would it Thank now remarks. closing CEO like questions time. this at turn I

Paul Badawi

interest you in call. our progress updating future. Thank the forward for in you appreciate you. look and we attending Sciences today's your to on Sight We Thank

Operator

participation your program. for you Thank in today's conference. This the conclude does

now may You disconnect.

Sight Sciences (SGHT) 1 Aug 242024 Q2 Earnings call transcript