ICCM - Earnings call transcript Q2 2022

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Operator

Welcome to IceCure’s Conference Call on the Financial Results for the First Half of 2022. Management will provide an overview of IceCure’s financial results as well as clinical, commercial, and operational highlights. Participating on the call today are IceCure’s CEO, Eyal Shamir; and CFO, Ronen Tsimerman. They are joined today by Dr. Kenneth Tomkovich, the Co-Primary Investigator for IceCure’s ICE3 ProSense clinical trial on cryoablation of small, low-risk breast cancer.

management IceCure’s presentation, the and Dr. Following be will available for session. question-and-answer a Tomkovich

of the follows, we take the forward-looking statement and now I meaning statements. session moment call Before Harbor will the of such intended a the and Litigation intends, plans, anticipates, begin, provisions identify Reform Securities statements contains it forward-looking and similar Private expects, or of XXXX are other to seeks, as Safe read This estimates, such federal question-and-answer forward-looking within that statements. the Act securities to expressions variations laws. of words Words about believes,

with statements For potential example, strategic revenue is forward-looking required adoption website, business cryoablation minimally-invasive update market jurisdictions, the IceCure’s of regulatory available Company presentation. for is IceCure’s subject and periods. or could to events the turn these deal www.sec.gov. plans, in of pursuit as differ this presentation of The key by statement December the in to after Because future Annual expansion no for filed on risks SEC IceCure statements XX, IceCure risks undertakes of various this materially it law. ended Report commercial performance, I of are quarter-over-quarter X, its discusses now to expectations, highlights current April which over actual or those the and of many when expected uncertainties including except XX-F achievements uncertainties, and the various for other of which advancing strategies this forth those implied will in such using Eyal contained the of Factors in by and approvals changes technology, on variations call future the beyond forward-looking or revisions in commercial CEO, to results, with and statements on section described and Company’s implied and and on The they other applications control regulatory release, statements and Company, or growth, subject the Shamir. XXXX obligation set date this from based are are the the presentation clinical are XXXX, year SEC’s Form Risk

Eyal Shamir

Hello, for joining us thanks everyone, and today.

Q&A. with results. of followed significant opening are breast the cancer We’ll there before Tomkovich start review will the our [indiscernible] XXXX for perspective of development thought a first financial will from of hear We an and a business then of overview by share half Dr. call cryoablation the on

period distribution our signed half subsidiary penetration Medical XXXX, Medical in with in agreement Turing power of key through is Medtronic a During this brand We China China is is IceSenseX has infrastructure Shanghai commercial $X.X strategic the to believe according facilitate healthcare a of more Ltd. double be $X.X devices Zhikang name China Signed milestone Company that Medical world. its market ProSense affiliate value country Devices of system an reach the Shanghai of healthcare the Beijing adoption Shanghai China the accelerated market the first investing currently Ltd. in one Medtronic the an than in heavily in Medtronic, by in an for disposable improved technology XXXX, size China Ltd. to IceCure Ltd. plc the years. division first for this the expected the to IceCure, is Company healthcare potential statistics. for which most Mainland purchase for according by distributor Devices and Government wholly-owned for Mainland and market and to of Medtronic three its million. Shanghai years an Company probes which This Minimum agreement a McKinsey Zhikang China. the Medical and size in is targets exclusive with as of exclusive [ph] reports, for high trillion, penetration, agreement Technology IceSenseX, agreement Zhikang three initial to the will in outcomes. minimal driven company market important world’s is the Devices cryoablation XXXX market medical rapid Medtronic IceSenseX technology of expertise, of for Company immense market largest – in is China. new

in of deliver approved by revenues IceSenseX and of has book XXXX. already Medical under China the expect Products first agreement Administration. the health to half systems the IceSenseX body We National this been second regulatory

the the registration application commercial to We IceSenseX of which sell Cryoprobes disposable an have if allow use. us approval probe, certificate to for submitted disposable amendment will approved for

the We expect receive XXXX. the by approval probes for of such end to

this Georgia Arkansas, ProSense system the in in several with at in sold Company clinics U.S. includes Medtronic In Devices Shanghai Georgia. installed Turkey breast second major with in and in addition we This ProSense healthcare our ProSense in was Zhikang also MANA to the in facility Poland. deal other the countries. Where XXXX, treatment quarter and Center China in Care the and Medical conducted of worldwide. installed the were Breast those first Breast clinics fibroadenoma

conductor second commercial We have treatment the with the the and number solved increase. on expect interest in we of Based these potentially installed of may sales in quarter, of and during itself level after system Bnei first France. breast installations and Zion ProSense Medical ProSense. kinds also our Israel, Center cancer

Brazil extend landscape quarter regulatory during find continue application the in second our will We regulatory and Canada. to

the addition, palliative the intervention. indications, XXXX. ProSense breast system benign the and other probes the for was China applications tumors and – disposable signed for end signed IceSenseX including Brazil, of councils, one end the regulatory In for in the In at

of healthcare ablation interested benign the and ProSense demand minimally been tumors. Canada by a Amid approached application other ProSense key as breast seek number was Canadian in and system this of indication, a regulatory providers, have tumors. invasive We in for offer numerous filed treatment breast malignant for to for including the

the use physician active very consistently very are We ProSense, is which received. in well presenting, of demonstrating training in

in second at interventional Society cryoablation tumor in the of event. paper XX course our participated annual the of The XXrd of meeting ICEX at we articles European quarter Imaging, of published breast the did During is including with Conference, and regarding tumor cancer ablation Annual American Society Oncology, in cause study interventional was cancer and traction results of presented the as the gaining demos of and the Breast Boston. College breast society interventional presented the one surgeons oncologist. and of of breast conferences XXXX, process a cryoablation We users. at of a best interim the the American XXXX from radiologists Clearly, medical ProSense breast of annually. cancer on community, Surgeons, ends of Breast on We chosen U.S. Conference our by moreover, breast two Interventional Meeting was publication Radiology thousands global ProSense radiology

we will call As landscape, expand this the commercial our reach reflected we financial. over I Tsimerman believe activity that for to future. our regulatory revenue in turn be the now Ronen the in to work will

Ronen Tsimerman

you, Eyal. Thank

activity. the XXXX, the were to ended is attributed the the six agreement. the decrease XXXX and same in the COVID an and and XX% approximately activities, year. XX, months $X.X XXXX attributable on to for months June six last of of expenses XXXX. approximately months to million, commercialization Singapore, last is distribution were compared Brazil, for were in June last decreases in for is compared XX, slight the and and Europe. mostly period decrease was revenue the revenue in June Sales, to six continue attributed in process, expenses first and same to agreements the million, six XXXX XX, period for is single-probe recognition and June XX, the $X.X which of decreased XX% increase commercial and in ended approximately expenses. $XXX,XXX of was in sales China, million to Gross NASDAQ Japan, decrease year. compared and for The the approximately NASDAQ were commercialization Terumo marketing, impacted increase recognition to million to June compared the For administrative surges Terumo is by in operating to in a tumors The These efforts months the The in gross participation general $X.X year, million in from decrease next-generation ended Company’s the million, Research acceleration compared from activities. Gross development the to XXXX, for $X.X of the The XX, six and to from U.S., conventions ended in approximately decrease June months operating compared IceCure’s by to in the associated Canada. expenses $X.X and expenses ended development, to offset partially mostly Asia, sales XX, for six in of expanding Total to XXXX, half $X.X margin six malignant increased regulatory ended clinical period increasing listing-related million system and for the U.S. same million six Thailand, aggregate commercialization, distribution months profit increase the restrictions the XX% with XXX. margin by our development increase for conferences approximately listing-related $X.X attributable due million, in the approximately first increase breast months months $X.X for sales first treat revenue to and $XXX,XXX period XXXX. $X.X be

As million net XXXX, ended year. the of with per increased the XX, $X.XX activities, six lower a approximately June net share or to period million per result approximately revenue reported increased $X.X operation period share the loss or for and $X.XX months of same compared last loss for $X

cash and December Breast ICEX medicine, including researcher, $XX.X A I for is company of of co-authored call trial Tomkovich radiology, and million XXXX. a respiratory the cryoablation had emergency is Co-Primary turn approximately Kenneth and Interventional or small Radiology Interventions XXXX, a approximately XX, cancer. Dr. Radiologist radiology. Jersey. Tomkovich Diagnostic Low-Risk New As Center, Tomkovich million radiology, the medical with Director Investigator as has of at now Princeton Breast over of Imaging academic our several in Medical equivalents Tomkovich. of american to authored compared the prolific $XX.X on Dr. of and Dr. articles with journal and will CentraState cash XX, clinical Dr. June journals,

Kenneth Tomkovich

journals primary the developed the that attempted and population, lung cancer ICEX only, breast trial. and other am I’ve world other interventional cancer XX some I Radiologist of Dr. any organs, Tomkovich. introduction. Again, included in cancers, really not trial chapter in experience the on in Radiologist And breast humans who low XX low hypothesizing the the possibility for for a doing posed after cancers, centimeters investigators who breast started the type been you years when spanned Thank Princeton, topic was ICEX why my doing patients Jersey in this patients risk as treatment Radiology primary much cryoablation that radiologist a cryoablation of as patients for reception. Princeton to breast ablation surgical but with lead also less. I a patients practicing trial articles for in but in Interventional has or following procedure the trial grade, years. very New liver and cancer the in one follow XX trial is is and in cancer I’m we seeks My over United not other the with States. years, procedures name years with I risk patients procedures goal and more older and patient So publish small we interventions, study of the a we with five interest that cancer. the were kidney. breast this and breast cryoablation. XXXX, my the and with From for of Kenneth mammography to are included started as were around somewhere in developmental And that doing in less ablation X.X first low did different having I textbook question, cryoablation? the research XXXX phase four, breast the in enrolling And such point, cryoablation

reach I After rank in – what was session with for research presentation on European the Oncology ICEX personally attended procedure in and was asked training that moderator well. this present in going to hands And and in person, accepted but My with technology be the trained this James there on Jefferson in in acceptance Monica this that a been we we there’s at that a publication final procedure without I coming Dr. results South global felt full that who of American again, continued the interest colleague the the was last of Interventional several cryoablation is spring. was prestigious five to emphasized as are trial. minute whereby in a conference So European meeting ARRSD I year sense whereas findings that meeting poster throughout we set Personally presentation presentation and also performing was patients, and a not colleagues conference. that MD in and idea, findings to only very the this maybe not interventional ago, in the Vienna, was this with able was surgical Interventional I’ve studies the Society part offered training scientific oncologists, and been I this of BCIO the XX Dr. ICEX Israel, Goa, professionally, at cancer forward. cryoablation acceptance States well year. even for successful technology in had the publication course, presented with to have important SAR the China Society for course that interventional are very access as end Medical in race data personally procedure the in Orleans, hands to Personally, this Interventional early and with colleagues And breast ICEX, way this enrolled for also and my Radiology Radiology the Boston. perform from along radiology as XXXX, continued Boston, because the at or Society Only imaging really procedure scientific the years these India, for follow presented and showing on imaging it’s society session. most physicians the presented today trial, results for meeting, Congress again, using cryoablation spoke honored India, this the of in was Chinese six-year by ProSense the to participate for this lumpectomy of Dr. surgeons, hopefully this of only accepted Interventional I colleagues a breast follow of would’ve be on year concept acceptance good in on, was Singapore and of Houston New categorical except RSNA cryoablation is there categorical and presentation that including Dr. we system in XXXX the attended I of patients the meeting, to a say acceptance or several of year XXXX, That that rewarding Brown a throughout care. give work June not in at the my But XXXX. patients general the Chicago. the Fakuma thought was very impact Anderson in a the cryoablation, and cancer rewarding in radiologists. long-term with six the IceCure session Africa, Chinese and China, symposium I’ve of procedure and didn’t which the year’s, in Society year’s a particular XXXX those experience patients of resection. results were and probably of has the from for a Schamus. from several honestly this at But at for at [indiscernible] standard Japan had actually ICEX increasing we those breast that meeting. that perform society presentation meeting, at followed findings, this There honored global in full United Congress can as I’ve Meeting of patients the was I’ve XXXX my I’ve of prior in on to colleague And and Huang and at session the this breast trial members I’ve were theory as Interventional colleague this a world year, fall in Conference and there the post with presentation been possibility radiologists, this had ICEX done Ward participating to then trial, a Massachusetts, sessions Sevrukov And back, Radiology the or was for trial. which cancer on physicians Dr. meeting expansion also presented the a from Falling participated. invitations from specific on did And Zuki cancer. not in the to results many no meeting, because topic an cryoablation that whole research and accepted physicians this past at interventional throughout how my amongst adopted great remote accumulating in become presented was to breast present follow course but of the Oncology, which in years a radiologists, participated the on remotely a and in of that of the in a of breast presented my Continuing their accepted data that and with a of of, increasingly in Europe. culmination well a because very and the imaging of great Alexander from no sub-specialties radiologists, a which of we abstract had

was So Radiology. virtual many Society of received view SIR recorded online for asked as a was which And of the to a we And Interventional this that it presentation, very the presented outcomes after so people what It by course. can give was meeting the very well I well. a follow was on a up comprehensive procedure. give presentation that, SIR at

the some registries technology There I in broadly, trials. there’s going throughout I the personally, more for only patients going rewarding States, been my have continuing cryoablation have five to wider six scarring So forming be that treated outcomes. see have and when outside study you They those patients done. of six procedure free I not to this was most this ablation. and now patients are this are very breast to forward, they throughout of of be think They looking they’ve would the United that now or see I’m satisfied cancer very free. no know research forward, of are ablation And And but that those adapted And world. had have patients effects technology and cancer years procedure. this years cosmetic cancer visible and the from this five find post outcomes for adaptation I back who no it post that never happy

we’re at personal and cancer that regarding experience So concludes remarks you. where the year. with Thank cryoablation my past over my breast

Eyal Shamir

now our calls using been appreciate for Operator, would for open a shareholders the like the I’m who your Thank insight. clinician as Dr. analyst. sure perspective [indiscernible]. you, your has sharing to Tomkovich we

Operator

Partners. session. Ben you. time, is the Alliance we and Instructions] Global The from question-and-answer will Thank ahead. gentlemen, of first question Please Ladies at Haynor go begin this [Operator

Ben Haynor

the Thanks Good questions. afternoon, for taking gentlemen.

seal at explore, was going looking I around of on in Any time quite like there. breast. the be kind guess, your for of cryoablation curing ICE EndoCare that soap had the and me, Tomkovich, you Galil in EndoCare attention kind guess, to recollection that I and First additional early you’re off cryoablation to history, then the kind at seems you the in My companies aborted kind the between Dr. it XXXX, Medical of seems. quite there’s with the merger a with I fairly resurgence wanted what color torch, the opera there of and would helpful. and attracted to asset it, jail going then time been two of

Kenneth Tomkovich

sedation, are for used you I off looks may case still The put type EndoCare, piece of know it of focus we your that modalities. question doesn’t hear procedure. that this Yes. and of for ablation, or they like key you you week I patients a any times kind imagine XX the really and will burning, What in administer is probes. don’t piece bacon, I later, available administer modalities, or ice X% There no may heavy And need, microwave bacon. it them ablation that and you of when itself node, use you anesthesia history it. intact. if of really what visible. you people know, in there or on triples key it to but of A ablation, I is ball several awake mls bacon mentioned technologies have the the the you typically least reaction when anesthetic. you not that clearly is we it conscious are that There’s at the anesthesia. you what like? patients. piece thermal of regarding those like can up, And round there’s about general of Galil freezer and lot It same some bacon, seeing best like to significant kind develop look piece forms by out trying lidocaine. which a protocol local there’s was again of ultrasound, And but several of so laser ball tell breasts, And ablation highly no electroporation. patients. there’s for of take my very be if irreversible RF for my it personally extremely are speak left there’s might does are require alert scarring. for the take to do cryoablation The of the much ICEX seen my that when fry I which see as ablation, is suited Those [indiscernible] All there’s and guidance and a it breath is this and ice well

or addition, at kind what in hour to in procedure, after their people’s So take go patients put band heat the members they a have And the out cryoablation probe, I their then aid we in think with this of about versus an lunch ablation. we they that’s based out and walk and family brains burn the procedure started.

my cryoablation. I summary a I’ve very the of I so highly safety that’s my far been ProSense excellent The insertion. the forms the quickly went IceCure and So profile why has in with chosen single visible with at ICEX And probe suited ball with ice why patient. well form technology is and think a Medical, probe is

Ben Haynor

isn’t helpful very that then? on you. status of what I well, just at at was was I your some great this time maybe maybe colleagues That’s sense that inertia your thought you the their this or color. for idea guess, that mentioned the Okay. what back speculation requires have your thinking the but time of or quo to mean, kind part, of mastectomy

Kenneth Tomkovich

me breast if because pretty these The about articles my that five or XXXX, not the go why work. this of and did they to results the out even things years thought XXXX much lumpectomy figure which behind reasoning other Rubik’s look you published failures to the kind colleagues of took with were is and of was been there’s for surgical cube ablation tried knew has they standard or care. four hesitating past literature the varying about through been why was before. not all the at Well, that since cancer minutia, And XXXX,

five people it shown of go kind and you of yes, they it’s that – the results this and present saying, say, are now moment behind post aha this a out. – where having research ah, is I I ICEX, to present figured at years, when that they’re And So six concept the years now we’ve ablation. meetings lot

are Now interested. participating where major the think the throughout potential. going we colleagues participating see from We And multiple this. sites earlier, see now now I with you’re are U.S. multiple from certainly mentioned countries what interested centers I

to need for to one liquid several and wanted outpatient times be it’s I a small, It’s of when nice nice some going it’s that other self-contained, And like procedures, of base, sub-unit. large because other think a have the out ago. which thing So with I years which current you is agree and It lot use it’s system on about, thought that to the the system, to up everybody tanks wall jump I’m nitrogen argon what board, I small mention either is don’t to gas, have a you these or there. Galil hook requires is events in room. using

this ProSense a the it’s machine with nitrogen portable. that you fill into that have don’t just system, You up doer liquid with insert and and you

and plus that to mention. room take procedure with it room another can this to I that’s from You felt

Ben Haynor

sense. maybe post this, one, that makes I’m Okay. the but And imaging then cryoablation. findings, misremembering And mentioned you

they’re interpret six I think looking see those. on it’s or months post some confusion at of there what shortly you? whether historically that cryoablation, may been now or people kind overcome procedure been there the they – to have imaging that after when know potentially how the there’s procedure Has what after have

Kenneth Tomkovich

Well, these I colleagues now cancer the continued breast a cryoablation public at with presentation And some MD then on the Dr. through I on in Huang RSNA I’ve could presented present And XXXX. I RSNA XXXX. the findings like from findings, I’ve that – and paper along adopters, on back throughout for mention also the participated this to got United look her imaging to know in XX colleagues guess States. and presenting that myself it’s be had very I’ll coming been XXXX, at I in this and Anderson are earlier to and other up for we my what sites trial, for mention RSNA topic imaging

prevent new also question answering process It’s topic, normal. in is published literature. to available finalizing we in post important be the and have where patients hopefully the we they’ll some time, be we’re residual cases that through unnecessary of the same publications, tumor So those cryoablation. or address very want recognize in because Again, patients to to a of at their the to that we may want a biopsies shortly what recurrence

not subset so And a through cases the world. of common, the to really nice physicians community images but with starting been we’re have share of those ICEX. have greater we Although, those throughout those far

Ben Haynor

Okay.

an procedure, out better after the stay about imagine you’re then Is And walking assuming patients. plus a mentioned, there the cancer just if all thinking cryoablation, you’ve assume tumor your for they those family got mastectomy, this? reason about angle you procedure cases, spreading. lumpectomy guess. would patients a – how So considerations pretty choose or have I look I aesthetic why not in aesthetic size worried all mastectomy, the the a going they’re But for. – is hour would over just is tuned the appropriate to the most I color their big outcome almost with any on and at they’re to patients lunch really

Kenneth Tomkovich

lumpectomy mine or having other the standard of have procedure, the care the those cancer. mastectomy Well, undergone of for best procedure, who patients having can’t imagine

idea from matter a publication, perspective, a my of categorical if to again, we interest. mention do just fact in the colleagues a of my know this this? where had this were if good they work, in everybody’s So accepted SIR, think don’t month how perspective. think I us not to didn’t before from a this, that’s their from now, course as is our And do a me, their we lead fact, widely going becomes, volume more time this I sure the quarterly saying, have that contacting is And it’s where after article this SIR session as involved? the year – a full a they as quarterly featured matter their but to speaks they publication. What’s again their

the surgical just of I care. lot the currently to and as community matter over people patient a going this people interest patients. increasing to there’s And up acceptance a is of this I When again, medical greater what procedure, by well. learning hear I about So lot lumpectomy, about throughout think end more start of of being standard this it’s a think think by use as alternative, may and it’s people driven an they

Ben Haynor

And touched sense. together. That makes upon Okay. you kind coming registries then of

interest But help how these your developing call of at folks on that think more of the it looking one looking Mayo Clinic Fine Dr. developing was to of asked kind like, maybe bit and the bring there’s thoughts in mentioned also University quarter’s that on and stuff. PRS sounds the What’s a I and those at they are procedure? could last quite Washington registries.

Kenneth Tomkovich

Yes.

I think also one Fine good and a breast of of is ICEX and Dr. a colleague he the the surgeons standpoint. that’s point, mine from on lead investigators

with the the fairly in or radiologists I interventional important It’s would kind we what was of may specialize very outcomes specifically were on in accumulate be certain and can where to conservative, and classify data I our breast what’s treated registries with in to surgeons if moving and might interventional we appropriate what multiple ICEX they field. oncology and patients say, so envelope procedure, that working selection. radiologists and to have. record cohort who’s And other think how forward, patients the successful, – multiple but in helping to research that’s cancer, be are working but the share of areas there’s included and who see come conservative breast this and So patient the who what being go that people oncologists, and successful, would through treated, data other not people pushing

think I forward. important So going that’ll be

Ben Haynor

both a couple Okay, IceCure here ProSense systems had sense until Georgia. plan that in and install Arkansas clearance? and Do or the that, those cases that or you fibroadenomas on get to ones signed clinics then for use with for they stick that, you the the great. being up quick time that fibroadenomas team, for the you that cancer just the breast FDA And

Eyal Shamir

for breast they’re fibroadenoma, out question. payment the using a are at they’re our they’re patients – and using of general it you Thank paying as moment the the doing for based [indiscernible] tumor cancer XXX(k) the fibroadenoma. benign are breast it and was and They pocket and also on breast most doing both clearance cancer

Ben Haynor

missed anything FDA the I then any any submission, updates you conversations then the the helpful. this that with for planned Got on Okay. apologize there on And I have if a you it. FDA. submission, can here. would And timeline calls And just share earlier be couple

Eyal Shamir

Yeah.

received to breakthrough to designation, submit talking will as with agency. submission the We we we been have and it soon on announce based the as we will on the now extremely FDA the device busy FDA team update are and the and and the working

Ben Haynor

to still the the And year? expect you end before that of be

Eyal Shamir

absolutely. Yes,

Ronen Tsimerman

The submission… Okay. Great.

Ben Haynor

Go ahead.

Sorry.

Ronen Tsimerman

be Yes. The of the year. will end submission the before

Ben Haynor

IceSenseX, product there you’ve lastly is Okay, there thought great. in cleared kind go-to-market IceSenseX process cleared got market? that China. in getting any for Is of And the the of me, or

Eyal Shamir

explain start in IceSenseX I that Medtronic with is will Zhikang and this product overview China, will like be that. all with and the my on doing China The ProSense brand we the the

in So the current is name China. our IceSenseX brand

Ben Haynor

Hopefully, monopolize Okay, all I for little thanks taking got That’s Gentlemen, questions. didn’t I had. all it. the call.

Operator

Kemp ahead. The go Markets. of Capital next Brookline question is from Dolliver Please

Kemp Dolliver

Thank you. Great.

share can the data First patient updated question you follow-up is, from trial?

Eyal Shamir

– you. If thank

for recall was deck, five you study which that in IceSenseX had by June mean our that the the follow-up could And from XX completed eligible trial, we patients years. XXXX, full the study sites. If multi-site XXX XX patients investment

of enrolled have more the patients course We follow-up. even many even we the four now years And is XXXX that X.X like patient has February than that last follow-up years. on

of follow-up. and XX, field the of most them with patients the five months XX months, some XX are over completed trial So

Kemp Dolliver

recurrence Okay. and tracking. to other measures the And the same trends with regard with you’re

Eyal Shamir

XXXX. a the that or currently discussing four April This we X.XX% The share. Yes. local we that what publication, FDA, it we was the recurrence last which last with now of primary information published course that is information patients for could by had had we we and And with time, cancer. on is recurrence, the the endpoint breast are is our recurrence

Kemp Dolliver

of you thank us size Can now? Okay, base you. the installed tell the

Eyal Shamir

commercial, a who doing U.S. sites are is a in the but information, This we course, have confidential of a the breast cancer.

sharing We some of cancer, in as Asia, interventional We which oncology, specific and of a palliative lung have kidney as and well base. sites tissue organs, installed liver, U.S. ablation, Europe the all not the over Europe mentioned cancer, top born in are a as soft that information sites the other during mean both we in mainly

the is our any that like sharing on could of competitors confidential we this are information installed So not any share, information base.

Kemp Dolliver

to Okay. I given understand. of a Thank last you. year consideration? or anything about before should reasonable but level and ask And take half the Dr. your this through the run the full the I spending I for first question there year, of plans that changes is levels into think rate any are Tomkovich, think we

Ronen Tsimerman

part Kemp, the last can your you of please couldn’t question. repeat? It’s I hear Ronen,

Kemp Dolliver

Certainly.

full months be six any of with the with representative have marketing, now be we data would and G&A rates change? at would or Do annualize those it expect you noticeable R&D, So for how there spending expense that year. level

Ronen Tsimerman

think be So we noticeable will changes. don’t there any

So we believe will we’ve spend same on we the rate. basically that burn what

Our flexible. quite budget is

if So we can feel make we the necessary need we changes that to.

Kemp Dolliver

should you think of surgeon we Super. take for and differences are system? patients when use any in into cancer that there versus about Tomkovich, substantial breast Dr. we breast see adoption consideration the And Okay. the

Kenneth Tomkovich

Fine the surgeons, in that that, patients Again, ICEX of they same and from the seeing of patients to are included are – the for the patients that as breast XX% the breast I’m clinical that performing I in think are site about surgeons are that I comprises investigators really on patients leaders are practice. ones along about that who are And you who with a there Fukuma really working several my are see breast patients who seeing surgeons in No, themselves the Dr. that were we’re ICEX surgeons are all XX% breast breast right really us we’re two that mentioned, Japan basis if the seeing. the that and the are cancer breast the daily collaboration. Dr. cancer

So it’s a number. pretty large

Kemp Dolliver

versus actually Okay. high to still based the the management is you. Super, And team, thank regulatory filing one risk a back bifurcated risk. on question strategy low

Eyal Shamir

FDA? about talking You’re

Kemp Dolliver

Thank Yes, FDA. you.

Eyal Shamir

Yes. Yes.

the breast planning The patients is while at high first to more results. risk to the which we call indication cancer, stage interim will invasive what on that the we and TX risk is alternative, the surgical low based to submit be early stage this risk low are early related

Kemp Dolliver

Great. Thank you.

Operator

Thank would There further your no like concluding make time. are at statement? Mr. Shamir, to you you. this questions

Eyal Shamir

the which thank IceCure working values I is opposition, the printing. the would hard treatment for cancer, by like is Dr. that really Tomkovich breast to organs participants, our side other we what all offer and to side unique are our

treatment from the and to patient. place to a from we approach approved point more are regulatory We And that are have this view. we user offer of that more any seeing and helping we

So thank you [Call Ends Abruptly]

IceCure Medical (ICCM) 16 Aug 222022 Q2 Earnings call transcript