TMDX - Earnings call transcript Q2 2019

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Operator

Good afternoon, ladies and gentlemen, and welcome to the TransMedics Second Quarter 2019 Earnings Conference Call. [Operator Instructions].

As a reminder, this conference call is being recorded. I would now like to turn the conference over to your host, Mr. Greg Chodaczek of Investor Relations. sir. ahead, go Please

Gregory Chodaczek

today, XX, financial the XXXX. on is Earlier quarter press for ended available website. company's June A the TransMedics you. results released the release Thank copy of

based relate during to begin, we that make safe our material for these our includes include guidance of the materially All Litigation assumptions. Securities in I operating the of Act examination statements like the expectations laws, XXXX. this those Before made Any of expectations, remind current which federal in pursuant are financial growth Private that for contained events, call products events and to or estimates and differ approvals trends, XXXX, uncertainties are our that including, of to actual provisions statements securities or revenue, or opportunity this our statements. call various operating would management cause limitation, you will by and expectations implied and future could within future risks expenses meaning of forward-looking organization, anticipated and upon results Reform in to statements predictions forward-looking the our regulatory which potential involve or forward-looking from margins performance the statements reimbursement, gross harbor without results forward-looking statements, are These for that statements. commercial

these statements. should on you undue reliance Accordingly, not place

that section filed please to our description the related of we to final list and and offering Factors Commission. and associated Exchange with initial our For risks of public had our Securities refer a uncertainties with the Risk the business, prospectus

forward-looking revise projections obligation, law, required or by of otherwise. future to as or update because any or TransMedics whether information, or new disclaims events any intention financial statements except

is and information time-sensitive XXXX. live August of contains the only accurate call conference broadcast today, as X, This

turn Officer. I that, will now Chief Executive to the President Hassanein, over and with call And Waleed

Waleed Hassanein

quarter second XXXX. to Good and Greg. everyone, afternoon, earnings Thank call welcome TransMedics you, for

Chief is Officer. me today our Stephen Gordon, Joining Financial

QX. QX positive Our continued the results we've experienced in momentum that

the this highlight drivers me of momentum. X Let

million quarter. period for an gross the First revenue. year. XX% is same the revenues. We of reported $X.X million was off net of versus This last represents increase $X.X revenue of This

revenue was X all by organs: programs Our lung, U.S. and our liver. fueled growth on heart OCS

the in the We're Second, QX commercial conversion OCS U.S. status. by second encouraged approval. pace Lung our FDA on lung U.S. the PMA centers based of of commercial

we center to stated were lung is As the by our the commercial OCS to that during majority become end goal centers a the of our trials our in quarter's of first XXXX. call, convert involved

Liver heart OCS consecutive our marking Third, program in nicely our second, is we and and U.S., form contribute are start DCD Liver in Trial. and status clinical or or protocol program the of QX, -- of to in increasing OCS on third this Heart another Heart expect XXXX. QX the our Fourth, program program. to Heart The U.S. continued the OCS Liver OCS that our enrollment rate is in OCS sustained CAP; the to quarter System enrollment fronts: making Liver use first program of OCS sequential access we up Trial of anticipating OCS high in the EXPAND the ramping growth U.S. enrolling X continue to

in that performance transplant some be activities could some forward, quarter geographies. may Looking years, third down experienced by as in slow we've our vacations impacted previous summer

issue. the programs exposure of to -- we our limit this believe and operating breadth that our should geographies However, and our X

anywhere revenue reiterating $XX.X year, our our confidence annual our commercial growth represents and our range which the performance clinical and on in between XXXX of million to rate an we half for adoption financial guidance XX% net $XX.X XXXX, of to XX%. team based in million first are Importantly, the

from highlights priorities key of some X you with the from for share and -- highlights XXXX. quarter second discuss the and second QX X priorities the the our discuss me half or let Now

not June transplantation the approval Lung also indication PMA No donors. expanded positions United assess types larger That our this DCD lung combined X, include technology FDA on preservation donor frankly standard donor strategically as we criteria the technology DBD lung States. First, in announced both U.S. OCS that the only to of from or received its and OCS preserve System but approved either other or pool world. to approval the Lung of only technology lungs has for around the for the second in

continue for OCS lung Lung that we QX, to billing helped confusion collection in more about adoption or and QX process in process now saw more efficient clinical institutions, training center to of the pan XXXX. additional for expect -- IRBs internal questions us the data We begin centers processes alleviate approval related through any helped talked any addressing registry streamlined. post-market didn't logistics, We the to residual established to joining this expect prior the to program. the includes that the in and commercial indication PMA of transition these second and specifically approval, team the we This the reimbursement become here have Two, regarding out U.S. billing process member new our

QX, donor distance PMA for retrieve, that transplantation surgical Lung the to assessment donor OCS retrieved X using were from of lungs and lungs Lung the through patients, X and and Arizona, initiated clinical the Both cold The the We the and approval. time new They deemed next center System. by transplant announced due this optimize donor to limitation program in week North transplantation transplantation. to after retrieved OCS we donor last of TransMedics a assess in teams Carolina final successful point were X storage. managed and to System using Organ is they initially Care leveraging pilot In received delivered unaccepted the for lungs lungs Hawaii. prior

increase organ milestone for not for barriers only transplant. this program plan donor OCS expanding the and a in to technology facilitate to We System OCS in and but lung is on continuing of significant we U.S. entire utilization the stated our this utilization overcome of As field press our release, logistical the

want The next OCS Trial. to area PROTECT Liver our is highlight to relating I

As has Trial XXX in record target I achieved enrolled stated XX. of patients been patients rate has the enrollment with initial another QX as earlier, Liver PROTECT XXX of June

As we sit plans to at the re-estimation submitted We approval their conduct final before we XXX. our for here today, prespecified test. we're size statistical sample FDA the for

we address in early late if to interacting biostatistician questions with objective. to or or evaluate the QX size meet FDA will if If conduct plan, Trial while needed a are have an QX patients be re-estimation OCS are not. We the process independent our additional sample assess they will prespecified approves the FDA to necessary their Liver

or to the other no these to about the would Trial. process ensure shared to the We preserve our that call. more We earnings results PROTECT biostatisticians particular will intentionally during company or and hope any did like team. QX by this operating reemphasize be integrity our this color member data We of provide of to

currency decline on we of International or move XX% let's Now approximately due slight to were QX, $XXX,XXX which our of fluctuation. to business. saw year-over-year, $XXX,XXX In a

XXXX. We to HX expect recover this in

will DCD additional code reimbursement reimbursement perfusion front, to future. was in another -- the up in of the in facilitate lungs achieved QX. we delighted Europe were open door first are On ex codes France for hope achieved in that report the to this vivo We

with and actively are Health NHSBT we to of discuss OCS and liver. reimbursement, the German in Further, and budgets and codes in Ministry U.K. lung for engaged Germany the processes heart,

or -- we these should stated horizon. that will should provide long-term that before, we the XX that time the over for are initiatives As business provide to should growth next XX months and at mature

tangible in shift accepting towards We're perfusion encouraged, however, for by the transplantation momentum Europe. machine

We a of the the busy QX turn Heart access OCS me let continued or initiation with protocol. had program. Next, into program the

the late further QX, U.S. to We start approval. System facilitate use in waiting in while the U.S., early will Heart we're enrolling expect the of increased program PMA the QX, DCD for OCS which

the regarding final questions. and the for all PMA, filing engage and advisory of responses potential date scheduling to with complete hope the the FDA meeting. final our Regarding are heart in soon very panel to stages FDA's We the we

While this our correct OCS of QX planning physicians hope the by once a we proceeding is be that and like presentation Lung EXPAND factually statements to panel going the some the statements the that to to possible during company and indication. OCS FDA a minutes are the with in unknown share at I if that timing made spend of a couple questions. this prepare I'm public response fact the and panel These to for about year, all. and PMA in call in date to potential to of Trial QX analyst Heart for section their of all would my a new plans ready our provide of this competitor of this you point, occurs. -- were inaccurate I the on misinformation conclusion confusion

transplantation EXPAND be of may suitable limitations of the storage. that deemed a transplant well not of DBD used centers XXx results in we center rejected be Lung OCS on by the before accepted assessed Two, average the that the initially lungs thought-out used cold trial the the One, lungs types best donor System. being Trial OCS other an indication define DCD that clinical that to or Trial by donors for were clearly because from for of showed

on in the X, in of recent that our paper results is utilization transplantation. August in was the EXPAND history rate the lung per online the knowledge, the of ever as lung published Lancet Three, highest achieved published the were to XX%, study reported that

approval used utilization the website, Lancet ex rate Lung using use donor significantly perfusion website. OCS cold the letter Four, paper underscores, current It the XX% of or using the can OCS lung XX% standard The for approval than function. crystal Specifically, in up Lung is nonportable scientific FDA's The the order reported well Lancet is available approved posted the System's as achieved as significantly than and assessment our be utilization the storage competitive rate literature in states on better or FDA vivo is paper set better the clear. that approval in it Sweden. indication as is FDA from lungs for

With call CFO, Gordon. comments. to And Stephen that, will some I closing will turn our the I return with then

Stephen Gordon

will for of results I second review our and Thank the ahead financial you, go year. the Waleed. XXXX fiscal quarter

gross the both past trial net as we data involved revenue, provide we invoice I pay nets revenue, the costs sharing from results, as certain which in and in trials. that done I've will well out centers customers, amount As which collection clinical the is revenue clinical from our

million, the quarter of quarter second quarter million, fiscal of second XX% over XXXX. a was a was $X.X our over revenue increase XXXX. QX And of the gross For $X.X net revenue the increase XXXX, second XX%

or board now the and basis, $X.X mentioned, OCS driven the in our geographic from million gross breakdown across the the color million, $XX.X sales million As U.S., was Waleed sales into program a net Heart XX% OCS and growth, strong sales, strong is net $X.X was primarily was The access with heart for QX million And million, our U.S. representing $XX.X Trial. just On sales revenue liver of in XX%. continued $X.X $X.X the is on and in increase our liver. Lung was commercial ex-U.S. year-to-date our lung, and million from little more $X.X the revenue, Liver $X.X growth PROTECT was a revenue OCS million million

was quarter XX% in margin of XX% XXXX. half XXXX. to XX% period, of second XX% the for for first the X-month margin second in quarter the XXXX to compared was And the gross compared Gross of

million, million in a sales mix support as as the $XX was $X.X driven well from well to company by in sales the result of margin volumes SG&A are XXXX. sales months X-month increase first the heavily $XX.X costs. expense operating as a investments of X of quarter of XX% and period, the expense of second We XXXX. $XX as to due million operating compared XXXX of growth improvement in and to million gross see by in U.S. XX% higher was increase In public higher This both both a to steady the modest quarter second the continuing Total commercial sales. as grew

R&D new supporting product development. our increased In also well addition, from clinical trials XXXX, as as

to of compared XXXX, operating $X.X million the to of $X.X of million quarter in XXXX second loss of Our compares million half operating the in first the $XX.X loss million XXXX was in XXXX. second quarter and year-to-date $X.X

the for XXXX. Our quarter XXXX. months $X.X compared was million of to second was million months, versus in first first XXXX the And $XX.X net second net the loss million X of loss in million of quarter the $X.X $XX X for

XXXX, XX, marketable the May reflecting were and of IPO. as equivalents million cash cash, Finally, $XX.X securities proceeds June from our

to comments. back With Waleed like that, closing call for I would turn the to

Waleed Hassanein

the that in organ Officer this the regulates that United said, Medical of Network successful transplantation and potential on Organ government results of lungs now Chief Sharing, allocation for by platform. contractor plans OCS the country. Stephen. is we're our We're and broader half to transplantation I from QX, growth XX era organ He "The Klassen donor traveled our a of would of were remarkable in technology adoption XXXX, technology reference organ our his -- David In Dr. encouraged like you, on drive thoracic body transplantation. hours and for over approximately achievement miles we've witnessed outside human the of new functioning laser-focused is the X,XXX OCS transplantation." a press a ushers first from and maintained Thank for to disruptive Dr. for Klassen's and our release. the platform executing quote

created we're value position users for time to this has paradigm and long new conclusion, and patients. transplantation, clinical to our shareholders, in leadership create significant In TransMedics organ maintaining a this our committed for

never focused plans the are the industry and process. our We Transforming challenges is an easy. market significant to any executing and opportunity in address on this harness

capitalize record the and challenges overcome great have track opportunity. we this to on However, knowledge and

you open so being for much on call, questions. can and Operator? we this thank Again, now for

Operator

Instructions]. [Operator

Your first from David line Lewis of the Morgan question of Stanley. comes

David Lewis

just from with start Maybe, few Stephen, A me. questions you.

do on based third way third? expect dollars your quarter around seasonality to in more stable third being about sequential the think the some third quarter international. Is growth Just the quarter? into Or absolute the commentary in you

Stephen Gordon

quarter you. Yes, thank expect the we forward. the David, some growth fourth in third sequential do going and Yes.

David Lewis

broadly? the Okay. And for expanded utilization, lung activities the could share approval the wonder us earlier more with on expanded standard Waleed, you I one given had of has or lung earlier I commercial had approval What the if approval, around just impact lung. follow-up. And kind

Waleed Hassanein

David. by what you, We're QX. we're in encouraged Sure. Thank seeing

see If we a were you culminate call, by expecting talked sort when the steady remember, hopefully would previous transitioning that to about we conversion full this in in of QX.

rate conversion we very place of One, to We that in X -- are higher done by encouraged, approval getting not we're early the We and We're took this attribute things. alleviated encouraged these yet. that but QX. that team centers. these in existing rapidly and and and Tamer utilized. was the doing market the U.S. to broadly that about confusion clinical the And be OCS readily commercial indication can how are two, to convert effort all

And we the absolutely encouraged. rate. fully help converted conversion think very trajectory, good we PMA in we're I we're So yet. us not are achieve and to again, second But attribute that coming early

David Lewis

you centers? XX% can conversion level how at be sense to us sits? at XX% at Waleed, would And to think organ sort right any those running? of any you kind sense up to where XX% and of running are of And sort you of those X% deem centers of relative about of you're many centers? volumes give particular Do you now Or

Waleed Hassanein

-- we're commercial. cut XX out the and gone right centers that have level, the think much right it's the stated tracking within premature XX converted previous looking start to converts the from And at to lung so I to want conversion I call, -- I'm centers. have think, number centers, now, rates training of -- what-have-you. and a too my in now of David, IRB at do the approval through as and I not higher where I clinical

year, keep depth by out XX are talk in be think, about we'll for too us of The a of still. moving And encouraged already to us now, I'm early have hopefully, at numbers converted too to the let that start QX. small premature, So meaningful XX it. But discuss I QX penetration down to we it's that Right level path. it. and that able next seeing

David Lewis

you're data? the Okay. And you on update fourth first liver panel data. on your fourth into we heart sense can on focused you the for slip And in expect, Waleed, give I the relatively panel Can then the that, quarter quarter? the the around what do interim commentary an a update heart or could just appreciate just in us quarter, that XX-month have still

Waleed Hassanein

if we're in to it's when going that in as knows David, be to determine in But is. call a we're have panel not honest that preparing hands meeting everybody to this with QX. Well, you, our

it's early earlier are in FDA that QX, panel and ready. we guidance first FDA, the whether the half December ready in time we lines, And We the to really of we're of have driven or to or the the indication to the their awaiting to according that it's wait ready. in and doesn't early time late. a and sort by to that. approval. panel panel us we're line QX for time with whether perspective, FDA the that January. that QX, with clear it's it discussed holidays, in a approval time If line. ready impact our logistics want line ready. that or panel expect We're We The a decides give we're have January, overall meet from XXXX the have December decides If heavy FDA being panel in to in on we're a for And them I be to this whether

Operator

Robbie comes Marcus question line next Your of JPMorgan. the from of

Christian Moore

is This for Christian on Robbie. actually

transplantation, going longer want news how encouraging of some when here a transplantation kind last data able yes. follow-up term was way for want to on are set how long-distance of facilitate see of all be Duke. and in and long-term thinking initiative on one donor retrieval to I the these really you these of terms this of performing longer-term kind the we'd opportunity we about the after chance whether First you lungs about from week touch I should to give to to Hawaii be lung

Waleed Hassanein

Christian. you, Thank

envision, that significantly facilitate of to giving System, organs of that an capabilities the the TransMedics general for Care expertise in increased in think we applying aspect Organ while expand and organ we there's providing centers were help procedure to lungs I opportunity donor in the lungs the concentrate donor very the clear the to transplant expertise availability clinical by our the availability organ that U.S. the logistical donor of managing on transplant in to OCS. service

to given we it's in are TransMedics. we We early we very long-term this on time that these important an that opportunity for growth cases expect be continue were And We and very clear we of achieved. encouraging program. believe will So X envision that. the length investing

that think data this would April cohort there will particular As by a data, outcomes. for far expect at be clinical on and program Lung we reporting XXXX I long-term International ISHLT and be of Society that as Heart we Transplantation meeting, of hopefully meeting, the

Regarding transplanted we're the that on have waiting from first X been and were patients here. anxiously those Carolina hospital, the cases well North discharged very Arizona, and next and in deck done organ

Christian Moore

just Great. then And one follow-up.

your directed, seeing the addressed public out talking is same found on it think the And commentary, out are going But which up that hospitals call impacts competitor's been to helpful doctors? you cleared that to you any market going was has that you I today. and have misinformation there? that you and investor competitor have from

Waleed Hassanein

that that the data we stand made paper. feel extremely to bottom per clinical are shared, commercialize do believe Christian. were in published heard not we've in I'm guys, OCS our and perspective, Lung. in in that there appreciate on not And team, of we've confident call. clinical earnings se. superior we and was competitor strongly very The adoption the and ability of comments never business against that addressing The market our Lancet team I line our competitors' any statements From team's my Tamer's our We these aware listen, in is that, not the can

earnings from obviously data. during frankly disappointed clinical either or our this of However, we is that the in And questions. understanding, crystal U.S. the that was a stand -- our circulated and a we competitor surprised don't perspective, outside were clear, -- response misinformation marketplace the in data call and by very analyst But from to we see in to an U.S. it's market

Operator

Josh Jennings comes Your line the of from question of Cowen. next

Joshua Jennings

ask was of hoping seeing this you're Waleed and availability. to in with increases trends underlying to about start, organ any Steve, in I terms that supporting administration just

condition I Prospective think there the within was and Hospital Outpatient procurement through rule the System proposed -- Payment a CMS-proposed a organization organ revision just outpatient to certification. Medicare hospital

a Health procurement Blumenthal I think the a after and basic do But hear to to wrote stake your question similar of mean, Services preamble letter administration that you feel what the just thoughts Human ground I organ around and Trump big is, mean care? has two increase for organ that. in senators, Warren like of oversight the done I on organizations. administration to availability kidney wanted I the putting to the is my Department

Waleed Hassanein

or chronic of the ability address it organ coming technology care benefit. only in problem They has House help bottom basis important with fundamental by system very underutilized were regardless transplantation help Thanks, us. media administration having actually the it manage previous line seeing more water from initiatives, From these close White how the the perspective, of said, And our of improves organ always to from this Care the to ones the and even is, availability the of really a to transplantation donor as reap We System are and ongoing public Josh. the health Sure. address regardless coming been line is I'll What process recent we in then. is, it really is all complicated organ mills. cost-effective an patients confirmation And It's fundamental on organ administration, donor our our we're a during that to we've and the field efforts. how Congress organ preservation. availability failure is and and that the them. the the coming condition, The is. bottom the end-stage how Organ this

by encouraged these we're So initiatives.

patients to pushing transplanted like patients initiatives longest and life dialysis focusing definitely of give it compared an that in the off these is best getting life TransMedics expectancy. transplant but to this, organ availability, list and takes quality same the major vein them successfully organ any as towards to get it's waiting time, course, on, improving which Of is

So We the whether House, initiatives in addressing or who's question, I to are all are -- hope gives any transplant. organ great initiatives, help I'm from it in us anybody that -- all involved the Josh. see White CMS nothing your they from

Joshua Jennings

That but the was just circulatory missed on can final review after next call, this have for I may death trial helpful. U.S. you approved? for And be trial that what to I design -- pivotal or and just transplant is heart us the for required, steps steps for the design donor maybe guess, get kicked off to

Waleed Hassanein

Sure. been trial already has design approved, Josh. The

really continued first trial it X QX, However, to the we design sure sure here into the as from approved, prioritized to soon with centers is access QX, FDA goes the without the expect OCS to push could centers ready This that IDE expect that be QX. have in its We the late they of DBD at of centers or are enrolling the the make jump and or But glitch. before happen early the to the And trigger. initiation perspective, first X we in want an we we're U.S. roll program. protocol of experience QX. make patients a beginning as end tail kind ready Heart of clinical And to the is clinical

Joshua Jennings

on expecting to it to seems us what X-year should you be just this we that of INSPIRE adoption lastly, a before positive as be be Lung all be of top remind OCS Can corner. we the it play? serve public just end catalyst looking could for for? that year? tailwinds around then the the data, then Should in And And are made other

Waleed Hassanein

Sure. Thank you, Josh. No.

this months to need the year. adjudicated X to that this of endpoint all later get data think X-year the I patients set the least cleaned, we be Josh, meet means, and that is What at last the analyzed. statistics

OCS of fulsome we've the the to of in from stated X-year presentation, our forward will looking we're formal would criteria QX as From the that now with perspective, expanded to a of adoption for centers QX the INSPIRE. the model, course, value criteria, be Organ publication earliest whether we that the the the lungs, and XXXX, the we're XXXX. But by with of of the access as form seeing or with perspective, System. a before, the of all results our set, the of of experiencing Care data routine over both service catalyst outcome momentum have take should expanded So in

luck out our course, clinical XXXX still have a are statistics that Josh. today, and hope OCS second experience different where of But the for microcosms long-term would their issues, and in we is than just the these if to ahead think makes it alleviate is The think expectation critical. help. catalyst. play could model in I we PMA that centers early Lung we're in a will I in expand own stages. are we and of critical. sense, favor, a hands that completely I And of adoption the If cadence very can as where QX the their And logistical truly own service exciting catalyst growth even

Operator

Instructions]. [Operator

Canaccord comes Genuity. line question of Your the from next Mills of Jason

Jason Mills

okay? Waleed and Stephen, can you hear me

Waleed Hassanein

Yes.

Jason Mills

to. call, didn't the a answer think Earlier in David the asked hear question I I

wanted a have With of -- details time to release a venue respect I do you can with respect line I'm you it, for sorry. plans data, to I missed to or share? So any that, if that liver

Waleed Hassanein

Yes.

ATC the we fulsome the think at the May data in liver will of will that XXXX. earliest be see I

we'll Jason, our I results the announcing think it's to that obviously, be, Congress. it -- release on we'll that the final where the be I it's don't remember But of believe once liver XXXX. -- Transplant is May that's going envision of American that's closer. I website is but trial. the the we where

Jason Mills

respect And Will that then Rico we to on to the is X Hawaii program. long-distance see model, from in push on pilot respect is of to within that more to those -- program have the understand you've geographies? planned the continually with discussion is with next I a course long-distance something think I planned, and But program you it's the of And play? the follow-up when or Is I and mentioned congratulations wanted a pilot the full-service past. the patients transplanted -- this Puerto or in can the transplantations. months? other this over several model, be this program see this you button will weeks in it

Waleed Hassanein

Sure. Thank you, Jason.

from expect perspective, from for Obviously, of almost continuously from many the donor many, Remember, we and been location remote definitely a of forgotten the at play. island the is at our think allocation Hawaii. that availability the fully this donors lungs Hawaii, an has I mercy is heart this that years. program are Hawaii and in we area

to it as a we So and an by are the will the make have I maybe been see several is The QX XXXX, the local rate education locations on discussions, engaged announce approached actively Tamer and XXXX, is continental became public program these and multiple expect by we potentially to we X continental that early U.S. with within cases provide within U.S., start knowledge the smaller say now news these -- we we community, If service. to that process we're see patients recovering, of good is, an assessment. between we and the procurement donor organization. then. we to going through would organ

X include these proves talk have or happened discussions. have the could the and But more to But remote. to have exactly transplants we and today. sets their organs very feasibility, Hawaii that things definitely, TransMedics' resulted otherwise like on ability where the magnitude necessarily with technology overcome sophisticated turnkey, demonstrate would complicated, again, Puerto X to they So above. final logistical to management it It into frankly the all It it the these assessment away. what concept, have these a thrown center, doesn't visibility doesn't lungs of deliver perform these as successful of to be lungs we necessarily be data do these when they about proves been And to bigger Rico. it the of

Jason Mills

and queue. criteria early expanded in the Got for the mentioned you've give United any Curious lungs now. with you Last get that OCS with OCS expanded approval in on centers question very respect that trend the it. seen Waleed. to back IRB criteria, sense Lung with it's and respect XX the States Lung, got us you've that quarter? of OCS from That's to some know your I'll color, helpful And Lung uptake specific me, within early, I or volume but you System volume with On days? expanded -- was the can to in in data indication done

Waleed Hassanein

I Sure. it that. It's early by want and days, very Jason, to preface

So cases of that in numbers QX quarter, I would though XX-XX. in Even lung the was it's are small, we've the will would our rate from end the hope by trending QX, about And encouraged early a over reporting a say perspective, the that say and in was we're we QX. expanded of that XX X -- perspective, approved blend, doubled seeing a I we're in conversion from in But QX. indication XX-XX at we similar be And trend. it uptick weeks mix first but a continue QX. in trend

Jason Mills

QX with over to just respect follow-up, is Lung the a or of growth XX-XX as And QX? in XX-XX use OCS that total

Stephen Gordon

was It's means was... XX% the use, standard, total and Jason, XX% that

Waleed Hassanein

the use, of XX% -- was expanded was XX% criteria. standard, XX% Yes. lung

Operator

to the showing time. would at turn like further to back this conference now presenters. I'm the questions I no

Waleed Hassanein

you to QX. Thank much we look and so forward in for again time, your speaking

Operator

Ladies and concludes your participation, Thank wonderful and today's for conference. gentlemen, day. have you this a

all may line. disconnect. hold your Presenters, You please

TransMedics (TMDX) 10 Aug 192019 Q2 Earnings call transcript