KRMD - Earnings call 3 2023 | KORU Medical Systems, Inc.

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Operator

Good day, and welcome to the KORU Medical Systems Third Quarter 2023 Earnings Call. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Hannah Jeffrey of The Gilmartin Group. Please go ahead.

Hannah Jeffrey

Thank you, Jason, and good afternoon, everyone. Systems XX, results XXXX. Medical quarter the KORU September ended today, released for financial third Earlier A available website. on of the copy the company's press release is

During events SEC. based risks those on statements predictions and to certain and will many of and matters. could our this mentioned today. differ as business due Actual other are including our results in plans forward-looking comments These expectations call, we or uncertainties, regarding our make materially the assume our I you, most in results recent to on as financial the any no front as our associated press update commentary with obligation the release and encourage filings listeners press of We forward-looking statements. quarter. well includes to which have release

management our discuss measures each presentation will accompanying investor of financial non-GAAP our press on our posted and website. call, filings the in and certain which During with SEC, release the are

these comparable press with additional reconciliations non-GAAP You including disclosure accompanying and release measures will GAAP those investor presentation regarding find filings. measures, and with in measures these our

related may discussed, of press made the company's release p.m. replay, held the was Since call with approximately Wednesday, SEC. to the recent XXXX, recorded listening and on then, please company For reference this and November comments X:XX topics the additional X, those to most benefit the at have the and filings

Linda are Medical's of CEO and today's KORU and President on Officer. Financial Chief KORU Tharby, Tom Systems; us Adams, call Joining Medical

Linda, ahead. please go

Linda Tharby

for us Thank you, afternoon, thank today. Hannah. Good and joining everyone, you

highlights our updated third Tom slides guidance. our and by to key commentary. the support I today's quarter. business begin During reviewing review 'XX we financials will will financial will then and use call, for

the we remarks, for will prepared up call our Following open Q&A.

and by perspective, quality life Freedom quarter today's challenging strategy. infusion want on subcutaneous our base emphasizing chronic new of subcutaneous building installed patients the patients drugs twofold KORU's While of includes a penetration from start our revenue commitment This global for of a and immunoglobulin a with with XX,XXX over infusion improving to caregivers to a call continuum system strategy by pump. into an I

quarter, business, XX% year. third large trial we impacted year Therapies the The to Novel which the business prior During order revenue the in a decline a This decline was collaboration. by versus was majority our clinical signing and by for timing the prior saw due which of is that's be clinical roughly this can on The in launched. engineering sales lead trials collaborations, that nonrecurring changes. the value timing product subject commercial services composed of the are completion, revenue to and of biggest all of of to milestone when dependent is business of which

market In was impacted Script addition, slower-than-anticipated SCIg overall our down volume was growth. Core business year-on-year, down were versus growth. by and expected our Domestic volumes drug

several our difficult made and with key momentum strategy. in a a continued we standpoint, progress growth quarter revenue While from initiatives

the We in and, broadest XX outpace over and underlying drug prefilled the cleared fastest-growing a with subcutaneous prefilled syringes, part includes business, indications U.S. the for strong with remain label remain device market the have solid the ml only revenues market. patients. We the core which XX,XXX latest continues clearance, our home recurring of to for

expense our We executed Novel and, XX in new operating a breakeven, a posted collaboration Therapies overall, our impressive continue our pathway innovation growth collaborations. now pipeline, plan. gross XXX-basis-point grow disciplined to Therapies close and strategic Novel have we On winning an to margin

business. Novel business flow prioritization year-end committed cash We innovation and to investments core our a breakeven, Therapies of are related disciplined to profitable XXXX with and

me strategy, and leading profitability. commercialization international growth capability, also Miller our dedicate drivers to And XX more leading and high-performing success. delighted business, and and him will driving allow of to our Therapies again. of innovation with our global We Chief operations, key working time years personally to Officer. over and Ken Commercial our to With longer-term marketing be our continued naming expansion Ken as it I'm agenda in Ken build brings commercial experience teams sustainable Novel

to ahead, Therapies the collaborations lay including groundwork strong we a introductions, Although geographies. Novel catalysts product growth with new quarter, and difficult continue new

A lot growth X quarter in drivers. of this our progress advancing strategic

business domestic a As our expansion. into leadership position growing expanding include these reminder, expanding Novel subcu position the this in Ig business, core leadership geographic Therapies and

made in quarter. the these We of advancements areas during have each

quarter year-to-date highlights. the market. Domestic we In Core continue our basis, to basis and few on the key a underlying business an A on outperform on

we in in pipeline a market, In and have prefilled In of late several Our excited to X expected leading Ig geographic seeing history. efforts, we to we our in our record are NT collaboration, approval consumable markets, opportunities XXX(k) pump our of the top the Japanese growth, one largest days of in have wins indicator and are we close XXX our expansion submission. recent business, approval announced are over our a XX. with new syringe excited and XX%, up enter another was by growth, the markets submission from

Let's U.S. into a market. dive now deeper the take

an the done overall factors have analysis the to we evaluate quarter, affecting This SCIg market.

X% we anticipate not was the a expect anticipated. we diagnosis, to KORU's than flu recovery the season in and QX to X% a market is 'XX X% to the of where be than outperformance prepandemic 'XX. it of in given X%. now levels But use in we in subcu XX% year-to-date. that Previously, The taking over expected drug faster the rebound very and This appears be market rebound half, is is up strong subcu we it continues. PID to longer today, volume anticipated did we Ig to overall lower back up market While

XXXX. sequentially are X% adoption. prefill are of combined by the wins result with CIDP in And QX awareness good diagnosis the X.X%. encouraged a for set growth In this interim, drug year-to-date and above-market as account over being by We we market generating up growing of up continued in and a should

leading sales. performance, XX% pump quarter. is up our year-on-year indicator and by often consumable prior from excited also are to XX% We the This

factors coming multiple in [indiscernible] the for have future year. We

the prefilled And growth now syringe chart our immediate of to A syringes. in The clearance U.S. about going an ml discuss syringes let's XX% by for clearance uptick Hizentra ml for ml our growth X% prefilled to continued market market penetration prefills. driver market. on led left prefill XXX(k) XX XXX(k) market as is prefilled shows for XX from FREEDOMXX the business our about driven system week, key prefilled infusion the XX received syringes. our overall of use with pump-facilitated Last we our share

market We full launch expect to in a early XXXX. occur

XX increased due studies, XX% setup for and tasks preference of we the of In are significant approval our with to our drug of ml, faster preparation the convenience We reduced of patients estimate market the use greater majority opens that this patient of found times. system and recent doses prefilled patient up syringes market. on than over

use believe penetration Freedom the an XX% with syringes. FDA Our to for XXXX. by will clearance with systems penetration We expected prefilled pump only from expected increased prefill lead share, with this to XX% remain infusion growth of

XX% We which drive at increased of use today ease due to XX%. the also therapy, could believe that around sits of overall Ig penetration that to subcu further it

NT our business. to Moving

over on This for TAM We patient at-home total, Freedom business of page areas, in both at our clearance for top million our close core population are biopharmaceutical X collaborations, in a on focused $X.X illustrates or Ig new opportunity. the use. billion and total collaborations our current new therapy system

not we will collaboration of commercial Although to provides revenue. these that know each the launch, for every new it one make opportunity signed launch

XX remaining by collaboration We at our was company one our signing in with new II the X that pharmaceutical Phase terminated advance the additional continue to net the with neurology with collaborations total quarter. of quarter, reduction this program

XX pharmaceutical list date. active companies We also this discussions where additional opportunities represent to qualified We for open this added making X our we have are quarter, largest our related These a opportunities. system. opportunity drug to new in

than close X/X a that represent late-stage concentration XXXX future are with our or with oncology. span be of areas They of from for multiple could in All drugs therapy opportunities by significant opportunities these KORU More commercialized earlier. collaborations.

including optimized includes SCIg syringes. quarter of XXX(k) all Our our pump first prefilled signed the pump collaboration This new our collaboration this next-generation delivering company's pharmaceutical obtaining the in SCIg for is with products, drugs. next-generation for clearance

company. long-term the as think mid- We of for biggest to Novel the Therapies opportunity

years since over We infancy. strategy as so have form relationships and We've business with inception learnings are just and build started in very its this had still companies, many its pharma ago, much X trajectory. we building we by our this continue to excited

international. to Moving

to secondary key immunodeficiency runway expand with deeper milestones. of in in opportunities. continue excited new growth have international believe and are countries. and quarter more our the we XX% into We international We driven our year-to-date, business about growth plenty penetration We by ended

completed of smaller markets, One and new markets this launches we international successfully our several year. drivers growth have in is

world. markets a anticipate Japanese top we ahead SCIg, look of Ig launch we to the the X X As 'XX, market for in

have the first we discussed XXXX. pump in trial, now half to ongoing completed our of previously We electronic which be expect

We will have contributing of abstract both This Constant System. we proposition subcutaneous its global comparison Electronic to international conference. clinical Comparison is understanding show, the Mechanical abstract IPIC, Ig showcase this of pressure a excited prove method systems, reviewing efforts the to versus the of value electronic to provide our infusion infusion pumps, prestigious KORU Primary our present X that. Subcutaneous International System system Flow Congress. aims insights valuable great the to week, at are this systems, Immunoglobulin: Constant constant largest System, the patient or the the The for to excited and with evidence of We're associated outcomes. generate Infusing team Immunodeficiency and the the benefits KORU year, into Pressure third Pumps titled to optimal considerations at improved highlighting

us nursing infusion infusion of future that is dexterity be will methods. for clinics, of our and challenges area current actively manual pursuing key push for clinics key an the System area products value-driving and in growth. more savings broadly versus use we Another is being Freedom the Use significant exciting time alleviating is

strategy a the has growth for become International key third company. vital

In new drive of laid years. addition label a over indications KORU key and and patient milestones as to out is that our X label innovation We've significant phase. to the few drivers, next products the commercial new our progressing we strategy always next believe is that the forefront products expect solve needs unmet at we that will element new our upcoming growth

prefilled new pump launch the for commercial syringe. approval XX This quarter, prefilled milestones, label with for with completed we the ml with X have indication the and pump of syringe that X X Hizentra of the products

both with in on 'XX Looking the prospects about the new ahead, for consumable Freedom of a end launch new consumable XXXX. with pipeline, to have extremely excited opportunity to submission KORU by system. a drugs We and platform new remain the plan innovation XXX(k) and we multiple pump our

turn our I financials. the will now Tom to review to call over

Tom Adams

XX% reported quarter. prior which clinical we or of recorded revenues large of million, a quarter, the driven business, NRE Thank In of prior or The in was our by you, total year. afternoon, and and by timing our from due a Linda, third This to XX% completion. decline was by decline good Therapies everyone. about of in the $XXX,XXX declined decline the $XXX,XXX of $X Novel majority trial $XXX,XXX milestone order year this

Our as decline grown reported continue volumes offsetting sold prefills. consumable of market of has we was year-over-year year during X% Domestic year, X% XX% back decline the $X.X the quarter, driven lower new a decrease patients driving a million, units that pump Partially versus increase in cleared Despite the Domestic Core consumables wins the of indicators year-to-date underlying growth period. by consumables that as and account included revenues outpace the $XXX,XXX our prior were for prior revenue. order a driven to in the future leading Core by are

caused perform XX% growth with basis, was lower order of result continues a as year. growth prior offset to by Core X% in the of new On decline Core International a tender over in by a markets. volume partially country-specific International period, year-to-date well

our performance, Gross over margin the points XX% driven basis margins quarter increase to gross increased XX% was in to by outsourced production Chester margin as in site from our second With as exit this efficiencies third The this we of by half in of end primarily in initiative. our XXX quarter QX compared the XXXX. achieved increased the of high well year the guidance. from gross

end deliver QX XX% of XX% full expect XX%, the of by our products, and lower and look these hold we and between and of efficiency toward forward price gross margins XX% we from driven X to along and with levels year, a year mix. consolidation from overhead in labor outsourced and between the margin contribution cost As manufacturing of from volume to X the lower improved U.S. sites

$X.X consulting. run of driven million, -- as the million, During and we reported operating at and approximately half we million external expect of as come our G&A operating by $XX first rate of operation half reductions to versus quarter, expenses headcount $XX.X expenses second well operational in

in expenses planned net projections and to we'll strategic operating investments our We keep initiatives, in million while are will $XX cash in continue to losses operating flex net towards on by half, maintain margin under in levels we and expenses our revenue the reduced losses. XXXX. maintaining gross breakeven aided disciplined with and We flow significantly expense QX control, runway order improvements of a second in

Our cash represented of a burn QX the cash balance end and from quarter. at was million the $XXX,XXX prior $XX.X

driven noncash timing $XXX,XXX. of offset million additional to towards driver net depreciation. these our for quarter and biggest of our year items reduction capital flows of of of higher by stock working $XXX,XXX, end of the Our Adding planned $XXX,XXX, of cash our during loss were excluding inventory, reduction for was This and cash compensation making $XXX,XXX burn $X target. was lower AR by AP progress changes

We renewal. also had improvement $XXX,XXX annual financing by cash activities insurance for driven our

to is expense to guidance half. the balance end-of-year in a are Cash estimated and continue greater in and revenue, $XX.X and our control be the million having for second cash gross has less million. half than to plan according than cash year and our $X.X burn $X.X to margin first the We been million our guidance increasing

clinical of We and guidance to achievement. year XXXX for closing our are updating collaborations, Novel reflect Therapies' milestone full timing trials

X% core assumption X% growth to we drug of in XX% a QX are underlying market our versus to X% expectation U.S. for addition, to adjusting QX. prior In

sequential Novel businesses. the now in core fourth rate $XX.X year midpoint $XX full revenue at flat and million to growth between changes mentioned million. quarter just our the is Our expected I be to that implies and the in reflect Therapies This a

with will been of our to importantly, most backlog and Therapies Novel our While our collaboration signed opportunities and driven lumpy, revenue revenue. our by commercial in has adding Novel continue and, we business, long-term bullish Therapies timing, precommercial be remain of pipeline current short-term

X% 'XX. underlying which the infections drug In as in growth the diagnosis quarters in our to we impacts PID, will rise market, higher which will X% favorable increased and of we of assumptions, growth market see respiratory are QX of SCIg planning expect favorable we future lead rate to see -- the a impacts in in

the between between XX% remains guidance margin Gross for and XX%. year to XX% year exit to the to XX% full

margins of margins the to the initiatives see year-to-date our lower manufacturing goods in to we manufacturing our behind With cost completion transition as see selling continue prices. the of and to mid/high QX us average outsourced continue gross expect at remain benefit gross on of improvements from plan, end our and to range we

at than year-end be raising greater are We expected our balance XXXX cash $XX.X to million.

$X.X operating inventory improvements XX% our of which capital million than is approximately in continued of million, million we versus stock are offset expect lower inclusive prior be guidance. $XX lower comp, We to by This $X expenses expense compensation working than $XX.X of reduction, to reported which inclusive complete about our date. in million is of stock

of cash We by outlook. current continue breakeven strategic flow reach to XXXX on based expect to QX our

will back to for turn comments. now I call closing the Linda

Linda Tharby

front. Thanks, the businesses across closing, to we revenue our our third and see Tom. growth, of I'm innovation In want progress encouraged all while quarter on by significant always

in patients, shareholders. exciting work home company delivery and have evolve a to value the continue will add We strategically drug ahead the as continued customers leader that and in to

ml on an our where and As Mahwah, continued Analyst Day milestones that agenda also including our our in we excited upcoming Therapies Novel prefill ahead, at expansion. Jersey, and X be progress December New headquarters our we milestones, progressing share innovation we I'm signings, our excited launch, updates be global and we'll are XX additional look about plan. will sharing to hosting to our collaboration

And to entire team finally, the want the efforts closing, thank exceptional in quarter. on I their KORU for

for Q&A. it to turn over will now I you Operator,

Operator

Alex [Operator Instructions] Nowak Our comes Craig-Hallum. first question from from

Connor Stevenson

This IV the for in convergence speak do I prefilled is maybe what ask, whether saying cartridge share. If subcu to about could to introduction? terms of CSL what the Connor market, market XX-milliliter of Alex. in for And it's this is ahead on

that, Just give on some please. commentary

Linda Tharby

Yes.

is So first, the launching on they that what product. CSL has said plan publicly

Of time launch delay The the in April. announced to the with course, product and back them due that drug their extended it market fill to they to into the approval their to the marketplace. was it takes prefill overall that bring

released that launching they So presales. premarket And XXXX. are some have in studies indicate product that planning they also the preference on overall early for

public don't IV overall think I that. about subcu, they've been Regarding to

therapy overall biggest of it is use use the over the areas, both think considerable we that the are drive the ease drivers years in subcutaneous patient next will we And those are for be in of will, I the what home. to prefills increased a project the factors turn, about know market and the XX% course given X what convenience of of penetration. improvements that and in generally

Connor Stevenson

of that is And subcutaneous XX% market? the

Linda Tharby

Correct. Correct.

Connor Stevenson

maybe this then isn't what any And be you. for this longer-term market? Got to reason views going the issue? are a correction or there your slump Okay. on Is subcu

Linda Tharby

here's Yes. with is source that of that at I companies And already so. look what use. same -- their one data through would and source all the we say pharmaceutical data, seen of data we looking which Ig the We've public see. primary releases,

drug prior the and first by we quarter. of rates. improved Quarter-on-quarter, XX% saw X.X market infection about increasing the immunodeficiencies all, of what the of points market were are diagnosis And think or about really So percentage signs. drives -- to that I immunodeficiencies X overall versus encouraging primary

you you and infections, recurring they the get infections, brings people get more which So there. they to go hospital, get infections,

'XX, is the flu and but off expect don't increase biggest X.X% that season yet, start, to roaring single we -- fact continue. We to we quarter we we we data big that saw to this the the quarter have 'XX X the season from expect given quarter another flu that that X, we've continue. expect saw So seen to that, was X

Another excited is that CIDP about we're usage. driver

about neurology to And for use prime much many a use tend process. as patients simpler as drug, that's so they candidates about do twice it's So patients And because are these drug much and a twice indication. injections. tend those just much prefills use they to

So we buoyant the overall also see that a for being factor market.

it's the out know terms flatten to to quarter-on-quarter. although we we out continued overall publicly, the don't negative data, I in data And we saw subscribe begin see script don't then script also of there the

those So feel are overall think beginning versus to we see I drug market, in where certainly indicators all where what we improvement great we been. have for the stabilization are and,

Connor Stevenson

Got one one And it. Got it. last then just here.

So you these some stage any opportunities additional along on Can color how they're new in far for are collaborations. opportunities pipeline and of some maybe mentioned what of terms you [ on? ] give

Linda Tharby

Okay.

collaborations did signed product you'll in our that signed be a exchanging this means the the pump. drug, approved quarter, be elements we on that to have value, collaborations, order XX whether So of the that whether which the we dollars get we deal, see actively signed are

addition to In that, have open we in we have that funnel. XX opportunities our

are RYSTIGGO. that products subcutaneous given -- us, in also used that the months there is that late very of we And for biggest work home, those being we've one and subcutaneous familiar called for They're the was usages those a use a of drug are clinics. number are that new that approved in The UCB infusion fact the indications approved drug being was just seen the such clinic. focus largest back, nurses few a in

lot a obviously, seeing market excited for very III because, which late launch is demand what than market we're closer some collaborations stage in is what much to products would have today. of of X, call signed a the I there we Phase we're So about

them of I platform looking a in are Europe, U.S. our many where those experience that clinic some briefly And script oncology adoption seeing Europe infusion of lot so Europe, our the of see clinics, about bring in learn to and into from the we're spoke in we concentrated in specifically. of my in

it'll labels time of and to So very -- time on our a bit excited. get some take little those

Operator

Caitlin next Canaccord from The Cronin comes from question Genuity.

Caitlin Cronin

How flow Just possibility? cash quick to QX this that you planning know one really towards I a on you expect you for are breakeven. is said do 'XX this. when drive

Linda Tharby

let take I'll that one. Tom

Tom Adams

question. Caitlin, thanks for the

mentioned, to growth, and we're we that what thing that Linda really in the what finally starting is double-digit the means, excitement right? as the start so to So Caitlin, market. getting see to the #X diagnosis -- is back see And with increased a

to you that believe to growth double-digit back get have So rate. we that

maintain You leverage our with operating have to the choiceful third believe have our we've then margin and is that also in that our continue also to with here that deployment. we our that quarter. discipline expansion leverage OpEx. operating continue to our demonstrated And expense increased with decisions we in you CapEx believe And finally, on

breakeven So back if those could can that certainly we manage things, to 'XX. of we get QX by flow all cash

Linda Tharby

And had to maybe level. that look is X very growth in We levels the those breakeven only through. just Tom those 'XX. that that other thing to certainly, that I We're areas at not does not confident talked But flow at would looking outlook cash level. get a our say XX%

Caitlin Cronin

Got it.

then Okay. just Novel And on Therapies.

in reaching your in this confidence goal and goal think, another think what's now, half in full XXXX. I in year? The earlier year X really for the was for, first X the I the your

Linda Tharby

Yes.

to said have is our that X. X confidence now we So level

to always to red Of up X. take opportunities to to us lot how a course, a relative we've But mark -- exceed line long the lawyers for agreement. gotten there's Caitlin, us smarter,

we're to level. in X that setting So our expectations X

one Of just today. announced course, new we we're excited that by after market the

this time, we're Novel close done already into And even collaborations now about and different revenues year ago deals of a X have ago that business XXXX. than would say to is relative we of were be our may taking Therapies or what backlog months that we a we've at where I the

good also that's So news.

Operator

Joseph Downing question next Piper comes from Sandler. The from

Joseph Downing

trajectory thinking does launched slower I'm XXX(k) XX you Picking it of clearance. some how up prefill track it's ml uptick year? off the about you're once next faster the the on talk with wondering, first for Or congrats Can the it through uptake so move we've or does question the seen? just there, reason?

Linda Tharby

Yes.

if it and think of XX% about faster. will are XX XX% move to on doses doses ml those ml population or the -- greater. out total we PID about were of So the I of on at are look lighter, patient XX Today, there, and total and much

So that could it that is XX for opens what allows up of XX% the market reach we obviously with the that not ml, before.

what patients in addition, In because prefills were they both between, let's XX that a had use had than past XX more vials to the say, is reluctant ml we and were XX just or ml nurses and to that patient. switch

a use in the So syringe and a patient past. have might vial prefilled the to

can lot satisfy Now they market, they're so with switch this more patients. approval, the able more to of a

see the XX% of XX% then the market. go basically XX kind get stabilize market ml penetration to we We So after there. that about saw being where see of able we and really to

we what saw XX ml. faster than So uptick with much a

Joseph Downing

curious, launch then should to implications any we mind Okay. that I'm unfold? in And starts as margin have

Linda Tharby

Yes.

the of take out wherever consumable. pump can, also -- prefills, real conscious are use the that with to looking only the price we game So is certainly there we for but course, we're with being

that product do is a we're prefill also And launch. at connecting specific this what so looking consumable to to

well to see So related ASP our we prefills. as some overall should appreciation in

Joseph Downing

the on one just then And market dynamics. U.S. Great.

long-term this So in influence assumption the to in revenue such embedded curious has how a led few does outlook in the months your And plans? changed growth what's last here. shift

Linda Tharby

Yes.

that why little the say, of saw an We expected come we bit would really QX with drug down? market, a QX. between uptick did and I So we

slower I'll and we Pneumococcal infections. been quarter-on-quarter-on-quarter. what little It's are a come bit has we're last back going again, we we just prepandemic strong happened. levels. see very season expected couple And thought we'd continued to We And of is at increased that that to infections a uptick, what diagnosis grow flu than gets a not seeing of a uptick year. thought. -- seeing We're saw points

is more when see diagnosis, I fantastic. get say So to sick, although which we hate people it

part second the sorry, question? of I'm And your

Joseph Downing

Yes.

outlook I how 'XX. revenue just Just to in growth and, plans XXXX assumptions that for about longer-term your embedded the guess,

Linda Tharby

So fourth to growth growth in -- quarter in the setting next the year, as overall for the of I market X% not X% year. said, that or We're sorry, that expect overall this range range yet market revenue to our are discussing would assumptions we're X% We growth in our hope market. flattening from our obviously, underlying see seeing rise market. somewhere I the a overall of earlier recovery X% the beginning -- scripts, in We're and overall some signs growth. for drug QX one in 'XX guidance to that let's strong quarter-on-quarter declines said earlier of also numbers. as out relative But we questions, both market

Operator

The question Capital. comes Lake from Frank Takkinen Street from next

Frank Takkinen

on coming obviously, I was growth these dovetails My little more with a whatnot. start you in I well in lower. hoping this came subcu. prescriptions to little stay XX% with quarter. more those bit where nature maybe think and about the that patients were the assume understanding But little shorter. referenced, pump the a wanted consumables a chronic and means one talk a on number guys in they may have the bit would you came up could why And you I in that consumables is were primary of advocate

So do IV? these the potentially there to consumables was related Or patients else in switch back occurring specifically was something quarter? to that

Linda Tharby

Yes.

the Frank, on maybe to first, call. have start you let So me great --

So to revenues revenues of lag months. our pump couple tend a consumables by our

which we a So basically and And of inventory. year had impact, a greater significant we we QX. also -- back did cleared order last order QX pump with softer that rebuild onetime our was we in a then last channel in saw than year, of see the growth back bit the

year, because was. last to compare difficult a had we that's So where volume on consumables our specifically our

savings, given both IV back XX% switch therapy associated will benefits go the to do of of when in IV, in any to subcu the time not effects patients on therapy stay their subcu. Regarding subcu they side we see versus

XX% see are CIDP. have we patients. seen diagnosis any So of driven CIDP subcu there that market very little Only by The being we are and IV typically They increased is of on patients strength switchbacks. would IV the would with of on we therapy. drug. given are opportunity have inaccessible because that why now That's mls And typically prefill. mostly been XXX they IV volume the with see say, were, prefills the of users, patients

Now prefills time done with it's actually CIDP. shorter can be that infusion a with

a that service will as is CIDP to go those now market that prefills. we're the after So able patients CSL the with we company believe only indication with major

Frank Takkinen

develop scale Got positives just in collaboration there's you of maybe cascade could this catch-all any That's a then significance to that. a one on come specifically that color. announced looking of maybe with And other I assume the do that, benefits like of that maybe things of of like when over progress, seems the long and see the what it and helpful you're we it. And missing. period guys to new strategic today, financials economies one-size-fits-all. that collaboration, a do impact margin and a time But could I

Linda Tharby

Yes.

the this is, discussions first, as prop, let increasingly, right, in some you show that dilemma just called The So confidential with we obviously, right rules. begin start very value it, -- simplicity as our pharma biggest me saw partners. of we with partner and the pharmacy now to

needs patients, of supply bio changer that's and to big for can a game we that a if satisfy is all So able them. the prefill pump

And we're and they've Ig to have go that that So they the the working the that. partner also made our obviously, decision that. X public of say companies been of X prefills, about saw major would with to with, advantage I

So in area. this we of lot legroom see a

both a consumable to relative have and getting patients, time, for the really to without pump a infusion time train say we pharmacists from experience patients, for any this our save significant intend specifics I believe caregivers program total for and -- product. would that the further into And product, of, for a of lot that lot importantly, on save value-added add a will be convenience we

So all changer the us. around, for be a think it significant way we will game

Operator

Linda remarks. There would to queue. the for the are back no closing our question-and-answer conference turn concludes like more to Tharby in questions I session. over This any

Linda Tharby

us for to Day, updating Thank upcoming we Investor you you you here. forward our all to joining forward I and look seeing at look today.

Operator

attending concluded. for now today's has The you conference presentation. Thank

disconnect. You may now

KORU Medical Systems (KRMD) 8 Nov 232023 Q3 Earnings call transcript