PLSE - Earnings call transcript Q4 2019

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Operator

Greetings, welcome to Pulse Biosciences Reports for our Fourth Quarter and Full Year 2019 Final Results Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.

I would now like to turn the conference over to Philip Taylor, Investor Relations. you. Thank

begin. may You

Philip Taylor

operator. you, Thank

only, and we begin, clearance, including comments of call inform commercial, that XXth, like management’s and forward-looking opinion statements. regarding clinical I operational, responses to would our regulatory and These XXXX expectations March and today, today’s as to will your include future the and applications process views other financial statements you of Before and regarding and questions reflects statements the product, expected product uses scientific, such and include to production, plans including events. outcomes, during our

Actual recent results and differ from XX-Q Form XXth Form risks detail with uncertainties certain of implied those expressed in may and a SEC. February result as These filed materially and X-K are most uncertainties. the our risks described or in

Our the can at through SEC’s our website. SEC website be filings found

audio this at Events note, our Investors will be are statements. forward-looking Relations section cautioned Please for on not on to conference News page. & call reliance Investor on the undue replay our that on place available pulsebiosciences.com website

now I call Executive With over Darrin would President and that turn Chief to to Officer, Uecker. like our the

Darrin Uecker

joining and all afternoon you for thank Good us.

the focus difference for pursuit in the betterment clearance Our remains that patients CellFX meaningful a to clinicians. solution make our commercialization Biosciences at offer proprietary driving mission aesthetic of our Pulse of and in on System dermatology bioelectric and medical of

administers delivers sparing multi-application a while to that nano-second tissue. clear energy is our electrical NGS non-cellular Nano-Pulse of non-thermally System CellFX adjacent platform to device pulses Stimulation proprietary Our technology. technology cells,

plans strategy information continued community. year our will in our XXXX clinical fourth And FDA Ed provide Sandy with share recent presence and results. the and will updates scientific program. and for provide I’ll for On on today’s call, financial quarter collaboration our the I developments will full the our System. regulatory then discuss CellFX Then and engagement current on

call conclude for open will Q&A. and I Finally, the

a from recap the is launch growth platform a accomplishments demonstrating we and foundation solid to representative we evidence the and produced like excellent would technology I of foundation year for clinical technology. of efficacy safety of aesthetic body dermatology. with of have profile strong our will company which this a creation as begin, To of that cornerstone NPS filled The our the

XXXX, is we In of up subjects in is clinical XXXX important NPS enrolled each and X,XXX from in grows. for amount which data, of end utility our our subjects enrolled XXXX, total only a XXX XXX lesions, clinical tremendous XXX completed, treating the studies, of to in treating now XXX lesions. and This lesions, with our the X,XXX conviction bringing over study

podium most including of dermatology for aesthetic presentations Academy Society of American and Society throughout Through at have the meetings. dermatologists developed been this aesthetic scientific studies delivered clinical of are the Laser conferences, prominent backbone and Dermatologic we and our important the leading year the Medicine large in has network at participating American Surgery. presenting who Dermatology Surgery, the a data data This the XX American work of

in peer German The proprietary have we advocates of these has awareness interest three Stimulation important attendance Surgery an played NPS leading published had key is work of has clinical and for sessions and manuscripts throughout this positive among with of presentations, physicians. role space. in opinion Surgery for demonstrated Society Medicine, a increasing of strong The and in these Along reviewed the the journals Lasers outcome Nano-Pulse in technology. the leader strong, both group American and which are Dermatologic the created of been technology the Journal extensive

practices our proprietary work a been the that proprietary industry model. our and CellFX extensive Cloud novel experience system have units This The we enhancing and used of From treat and side, model research, that interests aligns design their product enables to and the system the are data. and we utilization our company. have download captures able cycle to that software lesion. is been based to business practices system tracks System the hard delivery individual accomplished unique then and On relevant and at CellFX patients, market this business utilization to by purchase usage allowing

type patients treat of number based a on was that dermatologists disposable patients CellFX want to designed We business regardless and friction the typical business medical this exist size System based The understand and or that facilitate of costs want removes specific amount, to treatment. utilization aligned consumable use when device treated in model. based with to or more can and model based of or lesion lesions lesions of the a type single pay

System device, seamlessly Additionally, modality web-based helping generation metrics the dermatology aesthetic updates. next current serve integrate cloud easy-to-use that a as practice Cloud existing manage practices. practice will capabilities in software an understand a portal management physicians energy represents provides data, combined customers the CellFX that will into CellFX tool, in and software, maintenance application utilization The with and platform also

In trade. is outside Biosciences stands that the provides XXXX the for Organization ISO completing XXXX, facilitate independent XXXXX: Certification. Pulse International standards System Quality began by an for successfully ISO world which common Standardization to United preparations States Management commercialization for organization

Management product’s its System, XXXXX: demonstrate our and applicable to Quality customer requirements provide organization to where and step ISO throughout ability needs regulatory an requirements every XXXX that The services related for the meet of lifecycle. consistently medical certification specifies devices

XXXXX is important outside a for United many the States. for products countries preparing most when The standard device market and to international the and is medical ISO management, step standard widely industry’s used necessary quality

in the we outside priority process, the not have XXXXX milestone we and the market timing company. a outlined certification expect of to So System CellFX and ISO and first countries this United in the States, the step for significant is

an is mark the FDA European to device, this in similar European For medical in CE first clearance is the Union countries, Union. a a step pursuing for which

CellFX to mark System expect for CE provide timelines We CE XXXX we’ll and the process communication. in for future begin in the process the mark

Sandy phase experience As CFO other She our growth. We XXXX, of years we of device our brought in support CFO leadership Simultaneously brings publicly-traded team. infrastructure we take aesthetic our organization support lead team steps added Gardiner finance on team. next to commercialization, to an as company. the for to also grow will build we the eventual as operational medical as commercial a to to out

Vice by Vice General aesthetic the at Tyson experts and President Ed to North President started Dermatology level Ebbers and America. Manager, Executive hiring We’ve as Bob promoting Sales, leadership of dermatology

system we model clearance. They and been unique ensure closer running will with we will developing market business sales continue will in receives research get our hit we team. to continue add to strategy. once to group this has commercialization, ground As instrumental to the our This

Now, our to I’ll path provide update on commercialization. an

energy-based treat forward. FDA to by best that regulatory determined efforts ability are our focused dermatology, novel introducing achieving a The on System that different aesthetic adequately available not Here solutions. path work is that FDA continue in FDA. has one from the conditions CellFX because on XXX(k) and path currently other the dermatologic addressed in we to are with is are is And for clearance use modality of with treatments, the we collaboration

for with we discussions It’s with that now clear on indication, approach by is the best general recent starting System of a stepwise believe for track specific from XXX(k) additional more right followed and approach the should conclusion we XXX(k) in submissions the a for lead dermatologic predictable on regulatory a and process. indication to CellFX follow the are XXX(k) FDA our pursuing and XXX(k) clearance a a

of regular informal are We and the in we communication productive in a and conversations. weeks, last had with several number FDA have

step, indication. meeting Q-Sub As for for are called next a the a dermatologic planning requirements we formal data to general submission XXX(k) a the discuss

request the filed included data meeting Q-Sub our of the for a requirements submission. for formal that have We this proposal

May. We for has our working request to are the meeting pleased finalize date FDA that Q-Sub in and are we accepted a

Our is data XXX(k) agree CellFX for to general submission required for intention for System. indication meeting for the a on dermatologic this the

FDA. hope data and a to clear of meeting, submission necessary new are the to resubmit compile we report months be what we on have on clarity today, four take the and to approximately XXX(k) the we is data data for required. requirements, and on which will assumptions result get into we once the Based XXX(k) be estimate generate our our FDA will will a submission plan it Once the the

specific with meetings simplified year. for to that submission and is required benefits discuss data sebaceous to relatively hyperplasia approach FDA FDA the should to with the study parallel of starting We this we end comparative a One additional separate a expect begin indication clearance, submission. study anticipate QX. that to that be would for of of path, leading have potentially clearance by in this and to plan On a straightforward be the review, the the

continued to community. I our will details scientific with engagement to dermatology the the provide more turn now Ed over call on

Ed Ebbers

that has achieve. NPS Darrin Thanks, to dermis. of desirable pulses modalities cellular the current and shown thermal differences of precisely sparing clear cannot the energy the surrounding that nano with while skin of technology common to skin affecting afternoon, due outcomes structures lesions non-thermal The mechanism unique good everyone. the non-cellular NPS capability lesions,

Excitement around community the is growing. NPS dermatology in technology

a volumes, that produce applications inability untreated multiple see to build and to current the aesthetic but broad to NPS today go modalities conditions at utility technologies of aesthetic generally scientific proving evidence high outcomes. base across cellular continue recollects specificity We desirable dermatologists due of of

Among peer or podium of of medicine, reviewed for is the presentations on NPS of the at in surgery surgery medicine meetings by journals half year, XXXX. been and publication clinical study the second and major the journals continuing In throughout lasers in articles honored Laser the Pulse are; technology Society American addition the NPS these and compelling official have which ASLMS. Biosciences in to medical technology three journal

application and of on issue journal specialize which publication especially technologies, of articles basis. regular The receive method Kaufman, August of in the with structures featured dose-response researchers for manuscript a clinical and skin novel and David This authored tissue is particularly Mehregan quality scientific study and a selective to fields. surgery physicians in by Dr. the that in research of energy-based highest a modification and electric pulsed lasers the medicine Darius cellular nano of titled, read

This a range ability dose non-cellular no honored recognition NPS to was year and data article The tissue of affect with surrounding over effect of journal energy Best the prestigious predictable as reviewed ASLMS cellular skin distinction peer tissue, proved that same on having Science a effects journal. earned article non-thermal this by a Research Translational the Award, wide energy world and a response the Basic the in structure with to this of settings. full previous only further

In nanosecond devoted and the is October, and Dermatologic American reconstructive peer of author. electrical publishes Next, medical pulsed or the ASDS. Society content and titled, efficacy Journal Board, prestigious safety the Dermatologic the Advisory to dermatologic treatments than possibly. surgeon, Dr. Munavalli journal of investigator of our consulting of an and is field publication skin published for Dermatologic dermatology reviewed skin expansive hyperplasia, XX latest dermatologic the and member featuring cancer Munavalli lead Dr. article Scientific Surgery sebaceous author XXX more has in-depth and our most the a Surgery, Surgery cosmetic been scientific articles textbooks of in surgery or and of as Gilly gland

for President Surgery for in Seborrheic article Hruza George another authority Keratosis of the use devices. treatment Past Dermatology, Society Hruza author. Surgery, in the Medicine the Dr. Nano-Pulse lead energy President the and efficacy was with Dermatologic considered titled of in the of Dr. current Lasers President American American Surgery. published safety Hruza a been with Stimulation of Former as worldwide and is the of for Also Academy Society December Dr. of and American has patients Dermatologic in

the these to high the of of some science Both and level represents of most substantiate patient lesions Each excellent specialists skin world. the satisfaction. technology with and profile in sound SH and respected of clear articles an clinical the NPS safety of article SK work ability

scientific the we Looking gain for to presentation at world. throughout recognition ahead, conferences by our podium our progress continue medical investigators with

skin discussed January a in in all cell cancer NPS Basal given International from cell Course challenging was study Ageing of Munavalli comprises Gilly Dr. cell Skin BCC reported at The XX% treating Munavalli carcinoma is this nodular the and this Recently nodular using an histological study findings or of clinical cases subtype Paris. most by carcinomas. form presentation past of on the basal podium technology basal international worldwide. in Dr. carcinoma. common Masters

for is scar and outcomes care cancers. of favorable permanent For lesions, to can potential cells cosmetic reduced standard these NPS skin which scars. natural current deep the and lead This of types of formation for of the and a current feasibility histology demonstrated elimination the standard study surgical clinical these compared excision, suggesting basal treated care large photographs to

peer this still NPS January continuing investigators to been already occur. speak and we and at has invitations in validation medical in year, technology receive medical seven they We feel helps generate researchers reviewed meetings at with as meetings credibility meetings technology expect in prestigious of strategy our this that February continue enhances our and at quality recognition to leaders our probability build research recognized clinical for confirms Our to invitations on medical This future. both and podium the publications success technology. opinion for for key working commercial high

properties unique and discussed the positives announced of NPS aesthetic The being dermatology are technologies and throughout community.

of We for this indication potential future technology are of opportunity successful of non-thermal our been as the address about skin feel the to conditions. in a raising awareness NPS. device a market differentiated is excited have We strong energy physicians and quite challenging

and work with X,XXX wide we our have skin study across varieties previously, network XXX and of leading range lesions build safety representing in an summary, March a from can Darrin In tissue what of as exceptional KOLs extensive and positions. ages, on of patient lesion through types, profile Xth, now efficacy clinical our investigators to mentioned dermatology, treated participants

broad We utility our continue demonstrate has applications. unique to that other and dermatology, surgery mechanism plastic cell-specific medical and

category XX is the build of energy use and NPS the predictor continues recognition unparalleled technology advocacy scientific in the a device acceptance of to position portfolio medical energy strong growing nano long-term and applications pulsed of in growing to patents ability Our The a peer of future. commercial in expand. is dominant for our

back the Darrin. Now, to I’ll call turn

Darrin Uecker

non-genital dermatologist Thanks, Ed. pipeline. and pleased we quickly clinical pivotal treatment application to the we according single I’d a warts outcome. success and programs to for The sub-optimal a we enrollment Warts are on plan. condition to like is rate expand difficult completed represent tracking our low study, usually requires report underway to in lesion along to touch the and of are treat. very treatments the have as Furthest have a multiple

to patients to excited better option are they treat We the offer warts. a physicians see with many

work basal when in these updates forward providing feasibility back done cell We being and Additional on look available. to acne studies carcinoma. is

back, recommendations have we trying appropriate In health of step The would Taking of acknowledge we and ensure COVID-XX government to employees everyone Biosciences. by and at top priority. a observation to presented like Pulse outbreak. of safety our difficult circumstances and safety health the precautions the from our the the the authorities, is taken

At impact this had point, none of these actions have an on our operation.

issue that We an monitor and with forward extremely an continue FDA situation fluid our are particularly interactions will forward encouraged have moved to we closely. look Q-Sub is we and upcoming to our This without teleconference.

remind from impact. in to companies, new brings great excited To appreciated to device I’m medical since Gardiner. has CFO positive our her late November. have Sandy introduce on and public her immediate been aesthetic CFO, Now, she began It you, we’ve Board experience she prior other

update over to the will turn For Sandy the on call Gardiner financials. time, I our first for an

Sandy Gardiner

Pulse you, proprietary to strong is additional aesthetic and the the I join at in It great technology introduce excited am expand team Biosciences. market company’s opportunity a future. applications Darrin. in about the very Thank into the to dermatology

ended and including sales well costs. XXst, in XXXX period. for trial million $X.X were $XX.X as to in now of marketing infrastructure, cash teams quarter million. totaled prior million, XXXX, December million compared equivalents $X.X as the investments used totaled expenses the for by the the expansion and fourth quarter clinical development months driven functions XXXX. Cash, expenses XXth, to The as December was September Turning financial. three $XX.X Cash of compared and as operating fourth to research of expansion the million of and $XX.X XXst, operational Operating year increase

the December Net ended the XX, quarter XX, million, loss for $XX.X to for XXXX ended December was compared quarter million $X XXXX.

in and XXXX. team cash sales operational XXXX expenses and For XX, were year, million million, full the the driven ended $XX compared full The $XX.X of Operating year as of well development in December the infrastructure, for as marketing to increase research totaled was clinical functions, by expansion million. including XXXX costs. expansion usage expenses $XX and trial operating the

Net Directors that $XX loss Board an year million. additional compared In February, $XX.X was to to in million had raise of XXXX full announced for approved rights $XX million, XXXX. the offering we

for call turn Now back remarks. over I will the to closing Darrin

Darrin Uecker

conclude, made To over Sandy. have we you, Thank a strides significant company as past year. the

many our data and We of have CellFX an clinical the of conducted NPS studies profile amount enormous generating safety and System. clinical efficacy technology positive on

the field, in peer System proprietary support a unique through of reviewed cloud community CellFX finalized development to model. with utilization-based podium XX technology the articles by in standing presentations our three the infrastructure KOLs Elevated published top on had scientific business a and our

All System. the value clearance are patients. will of success commercial important We is realized by CellFX believe our these be things and the to the FDA ultimate, company, once achieved, that the customers

Our are increased confidence only and in has Biosciences the long-term excited the opportunity success of ahead. about through Pulse XXXX we

me Ed Gardiner, President and Chief call Executive Officer. question. Sandy the President Executive Manager, Vice open and Financial Dermatology General for Vice Ebbers, let’s Q&A Joining now is and for Operator,

Operator

is Instructions] [Operator Please Sean with you. Our Thank from question Kang H.C. first proceed. Wainwright.

Sean Kang

thanks Wainwright. is Yeah, for This only. and Hi, Sean first cash taking RK my – for about Kang operating hi is question H.C. expenses My question. at

thought and beyond? it well. you G&A in know, some Should moderate increase XX% like was as that quarter-over-quarter in increase and above increase we So in I expect R&D XXXX

Sandy Gardiner

is meet Sandy, So we to you – should phone. the over this nice sorry,

expect come fully operating in the second know, that second been has until XXXX, you the stable expect sort year we’ve increases those consistent now last because to versus that we expect hired remain utilization actually the level and But So have cash was we a in been, quarter we would at that stay largely organization least at the we half of of base. – our back And per know, been in of you XXXX. staffed so we million half the it our to consistent, do same operating at of XXXX million and $X to expenses $X we expense to commercial half as we are year.

Sean Kang

I see. study to correct? one Thank you. on you in I very that is QX, And I think That’s helpful. plan is, that start hyperplasia question heard last

Darrin Uecker

Darrin. Yeah, so Sean, is hey, – this

will FDA at is that on intend You course, know, what to details as be one of starting estimate have you of mentioned sebaceous do And particular best we where we just the advance working a our XXX(k) with for preparing to look is know, I and comparative hyperplasia will like. study following study this a time you in as trial. last the meet us, that through of next, this study, that reminder think something that, those of coming that been I and out this know, the

will for is be it FDA that, so what us to do. we expect And important with work to which on

Sean Kang

helpful, Very good. that’s sounds all. Okay,

Darrin Uecker

quickly also Okay, great. is like also and Chairman, line your question. on I’d available that to Duggan the answer mention Bob our to

Operator

question next proceed. Investor. Privett] Please is Our Private from [ph], [Brian

Unidentified Participant

a when months, rights available on guys. my regards you a – for is, mean four had might that Can mentioned or general in the And that timeline XXX question little color the part part the does of I B add offering. XXX(k) in what Hi my A be commercialization? of you to could happen was question? question

Darrin Uecker

ahead. Go

Sandy Gardiner

Sure.

then to So it I’ll offering over address Darrin. the hand rights and

elements and complete rights the all those end we April, have initiate we and the goal SEC. registration to of for the this the that the is complete – We would by or to that SEC, offering. that then the file before with components certain statement registration are that there So month statement to submit early our

Darrin Uecker

that on So, kind FDA to comment again. hey, of the I’ll lay this out just is Darrin, and

with after as we informal So, based really had a we’ve that going indication most this dermatologic conversations, FDA, again, a the think general first step makes on that conversations sense.

submitted subsequently a a request have the we Q called what’s or Q-Sub meeting. for So Q-Submission

meeting FDA. now May, very going like that us. been in has a FDA to happen is gotten mean looks it with back will Fortunately, teleconference to I be that responsive and

XXX(k) to Then that of which general XXX(k) that solidify a will able our submitted solidify you out meeting, generated coming for after in for to if So those the be at of kind a requirements to dermatological and that be know be hope indication. data we’ll prepare is that expectation meeting. submitted. meeting, four requirements we’re And that that would finalize approximately months needs we the

we exactly what need Now, do or XXX(k). have for those will to be won’t what know until we meeting, that formal we’ll that requirements

be result know, but will that assumption that is understanding our that of that. You we a pretty have good expected, the today would that, solidification and in what of meeting

and before would to submission, the towards And you general after XXX(k) four a CellFX year a you with that in certainly try of for so, the months XXX(k) then clearance goal end know, and if end get of take you that, the be to then year, dermatologic assume indication our System. it’s the a the

Unidentified Participant

Okay, thank you.

Darrin Uecker

Yeah, thank you.

Operator

Instructions] next Our is with City Capital. Park question Fox proceed. [Operator Michael from Please

Michael Fox

Can my taking for call – you thanks Hi, just everybody.

Darrin Uecker

Hey, Mike.

Michael Fox

How’re you – doing, Darrin? Could you talk about

Darrin Uecker

doing I’m right. all Yeah,

Michael Fox

the we’ve Great. – with Could more on of conversations tone – a benefit little just been a and, for with And starting give how kind dermatology that working general it then application? and the we transpired been with kind working do of us And you it of also FDA? flavor that like a the of color get bit path? some them really then – at we know, just the like you the while? about and any one us with square FDA for quite does the this time, given we’ve Are talk

Darrin Uecker

questions. good really are Those thanks. Yeah,

my going think, we’ve until that know, I forward. you So is all now FDA us the interactions with feeling up had benefit

very think So signs know, XXX(k) we’re you of that, coming is they is is this you where believe you FDA, that, of good we’ve know, FDA gotten, a know, out that XXX(k) last know, think this at you I you know, from kind is, device. I

extremely that is think I So positive.

that you in we that everything done all we’ve – under data of the and know, I because believe they the past think XXX(k).

submission itself the it know, is trying do and it, to good you shows So ended where with that call. I think they of for the with pretty technology you we positive, what described a, that, last understanding know, very as a one our we previous on we’re have

press I was the give provided that, that you just And able they where of a to see to in they release be didn’t that was think the benefit enough conclusion and risk comparative we substantial in know, them to wanted to up come our data. equivalence largely, clinical terms ended data

so really, helped, them. we all the informative. for And again, technology, new It’s I this know, is think has provided data been FDA understand you very a technology which

it to pretty you how takes I regard So, kind of begin now know, to on their really time for be think and with clarity we reviewers have, some can indications. to I understand skin. clinical the in specific expectations And be it good technology what used will think,

dermatologic a about more of we of to indication in The idea through FDA I and of it technology general a desire approach, stepwise provide allows a introduced think a that technology perform FDA form. because digestible this and kind the that, of with really clearances through the reviews kind their in conversation came them

that you expectation then So know, that indication, when it small we data, of addition really provided be relatively the new do that previously, general largely data clinical based will will specific to amount a is, each our and with data. in on we indication, derm be

through work I with so doing you of we’ve all think, this, kind And FDA. know, been this

approach. this a of in where for a makes, to for kind approach, a new easier and realized stepwise data we’ve of what that, do stepwise in that for is And you that’s it’s at. lot like this, know, provide it to we’re them think technology really of kind us kind I

XXX(k) clinical So the provided I data. a studies we a think lot of worth lot two information, last of and preclinical

from so going that we’re of fashion. more stepwise kind a And in now

coming have these Q-Submission you is to out think, we’re know, that the And other doing I meetings. thing of

I anything with submitted think agree prior our on So the FDA. the know, data kind ability requirements to to being of sit are, those to of you FDA to

so think very in good those going And things a position all I us forward. put

notably new I And, the think or is a been the medical my to what process. medical the with the last, And XX you’re number we’ve these you that takes you you work market. field the in most for so. we where, reviewers introduced as in going never robot mean that’s lesson that seen technologies, before know, device it I FDA technologies in experienced, career, know, you’re know, first robotics know, through introducing I’ve of you technologies think, to involved I clearance as time, sure months – new over it And, new to have

And think I as definitely benefits forward. going it

We’re much understanding of know, further along I better much have a prior. of think much a than we technology, FDA we understanding have I better that And and requirements think wanting, the is they were you today. the

So that hopefully helps.

Michael Fox

the Yeah, that’s one that have into decision great that are or KOLs all? does currently that and FDA’s you the or of How guys and then at play follow-up. number of path The supportive device. – does it

Darrin Uecker

would are you involved FDA don’t KLOs with formal. nothing that to, know, publication. lean that and they’ve on our studies, clinical There’s they – of in aware regard formalized there’s are I kind our You seen know, no certainly the

think internal on largely the said, officers certainly you know, these those That have rely folks been know, FDA things. they’re that you I aware them. of being has, of medical they own their a lot have they So for do, medical and you respect know, officers for and types involved of

Michael Fox

Okay, great. Thanks a lot.

Darrin Uecker

lot, a Mike. Thanks

you since fortunate we’re up enough comments, line mind Maybe and since here, make come questions to like got think we’re to line, today you wouldn’t few have on you a making you specifically. Bob, the I on no a if So few would comments. have could we the I ask,

Bob Duggan

Darrin. Yeah. It’s my Thank you, pleasure.

well think condition. product, at my KOLs of Ed we’ve that The the and I divisions service, Sandy, as doing to challenge reported. really the how the our to important done where think got you between QA, the clear, unusual is current number shows development across for events a forthright you, obfuscated I has describing be to enthusiasm just that performed podium In and they’ve and other product that of have the be well. opinion, team company in joined departments had know, their yet it is the no and spectacular sales, we’ve marketing, had advantage very and have team. we’re They’ve highly reach, been the manufacturing, FDA presentations FDA the the work

conditions for over been events, treated. over – regard, lesions No patients good. not know, that We all have that X,XXX time. resolved it’s well you In

the harbor a indication by I effective, considerations, are no the why is after we’ve thing. same it’s getting concerns, months or now, wanted, saying think is we correct appropriately between time to reservations So are collapse needed, going now which good product And the the doubts our that clearance. and able certainly it’s Darrin six KOLs was

occurs With the to offering. the I’m hopeful on that next question XX days. within Brian’s rights regard

We an our our the more of it subject from them, in update early of do But than filings gone we to April. review. give do question given That from have XX-day SEC. we XX-Ks that scrutiny and all in further will should concern back part a not If less period. receive our without be that any take SEC or you the be will when of place which would filing,

so time, very without is my had shareholders set to our dry value participation other stock. we encourage period do common best of warrants extra of actually to going price price a XX% company stock Pharmacyclics the curfew the right our no just have where doing a appreciated the during XXXX-XXXX, offered do former we than current We’re to the them all to participate, we’ll or

that I’m Warren likes equity one down is got that other they’re not many than company with the to we’ve price, Clearly, I shareholders. Buffett excited they participating. predict here, appreciate goes of our the company he future, about said us people, very very But a to no when same hand project very, up current and very top bright his great favorite very involved notch excited company’s see the an in they’re to price sticking say including in patient everybody appreciates about stand being have right I’m future. thing. a for in them that who bright a future and

challenges Jobs Amazon, the of want such while, have value just have that great way and their patience through So a America does things Pharmacyclics, is don’t people companies with that we hit longed have their the my including lost for your while I of those been quite take that anticipate, it. a appreciated. noticed in lot of work you Apple some the happen a It stocks some former good things or Steve stock who

Just the country coronavirus. is through its way working like

way or We and if fraction positive I we’ll be through are ask will be respond. work our now reached any our maybe happy then the you there’s can can be yeah, to coronavirus questions, There quite but issues. I’m of

all over to back Darrin, – Thanks Okay, you you. to of

Darrin Uecker

righty All –

Bob Duggan

it. appreciate really Yeah, team. the for praying just For

Darrin Uecker

will. call. Appreciate we Thanks much us. the on you a that, with the joining operator. right with our We will everybody you jumping your we you I I call and think All close very support, with keep Thank lot, for we think will of And apprised Bob. appreciate that progress.

Operator

does Thank today’s you. This conclude conference.

may lines you participation. your your for time. You disconnect at thank this And

Pulse Biosciences (PLSE) 16 Mar 202019 Q4 Earnings call transcript