ISR - Earnings call transcript Q1 2020 | Perspective Therapeutics, Inc.

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Operator

Good day, ladies and gentlemen, and welcome to the IsoRay First Quarter Fiscal 2020 Call. All lines have been placed in a listen-only mode and the floor will be open for your questions and comments following the presentation.

At this time, it is my pleasure to turn the floor over to Mark Levin, Investor Relations. Sir, the floor is yours.

Mark Levin

Thank you, operator. you quarter us for XXXX ended XX, thank IsoRay for the and September first fiscal earnings XXXX. afternoon for today joining the quarter Good conference call

to will a I started, get forward-looking statements. we few Before minutes read the take

the its call in Act believe, company's Securities within currently the Reform the forward-looking management to statements call, will, forward-looking as XXXX as company similar anticipate, amended. assumptions the made information Certain encourage in the well constitute Securities Litigation words this as of conference Private statements within relate expect, and and the of XXXX. available they as Private or conference this Act meaning of Litigation statements of management, as Reform by meaning When the to used expressions, such identify

These on are events of current today beliefs and XX, based as expectations about XXXX. future September forward-looking statements management’s

susceptible circumstances changes, obligation As are alter they subsequent with and inherently update from to statements expressly undertakes its or otherwise. no events uncertainty information, projection company or forward-looking in whether or any to any obligation the resulting to new changes disclaims and forecast, and

to filings and Commission. under Additional Safe in statement of is from risk time with company's time information factors contained the the the Harbor Securities listed Exchange concerning statements forward-looking headings and

financial Financial will today's who XXXX discuss Officer, Chief then will Lori quarter call Hunt, Woods, with Jonathan IsoRay's fiscal We IsoRay’s begin results. and Chief Executive Officer; the first

remarks, prepared we questions our their Following investors. take and from analysts will institutional

turn will call Woods. the now over Lori to I

Lori Woods

XXXX. XXXX earnings quarter for today thank for us quarter IsoRay's afternoon, ended for fiscal the and Good first call Mark. you you, September XX, Thank conference joining

Jonathan review financial fiscal of first provide more my a results. our will Following Hunt Chief Officer, quarter remarks, Financial detailed

Revenue and impressive speaks the IsoRay. increased for XXXX. accelerated sales share very we the the we quarter. times growth made have with This first to you year-ago exciting began XX% to have fiscal we versus the for as quarter continued progress achieved are pleased growth. These I'm

We evidenced substantial the improvements quarter notable operational continued saw in first as also achievements. by these

XX.X%. of margin gross record another attained We

months. driver in were revenue made over our core fourth brachytherapy fiscal We quarter operating this XXXX. quarter last have increase XX fiscal numbers XX% the that demonstrate clear quarter They we progress quarter our XX% to is growth the of Once versus It sequentially the The of represents of XXXX. when tell versus also XXXX. it again, continue of significant fiscal increased This was first gains prostate story business. XX% losses. first the to an and by of the the shrinking reduced compared

company also increased Total sequentially. revenue XX%

growth sales past sequential first Our reverses the direction sales the from momentum the This fiscal to the speaks in course flat to have we chart a changes and numbers that implemented realizing down sequentially IsoRay. new been years. strategic to fourth of we for are trend have from to quarters

had and Clearly, are with the we therapy leadership establish organic IsoRay's yielded revenue for impact One Texas accelerated role incremental undertaken IsoRay taken growth in in year strategies past resulting has gains. brachytherapy and we’ve been employed in collaboration have prostate an our over to the the industry Oncology. market brachytherapy that steps that initiative training the share has we've has

brachytherapists the The comments mission noted use effort train in we to of IsoRay. more options we of to awareness the potential prostate expanding brachytherapy Cesium-XXX We yielded the on in building our is what expanded the search designed led a It was April. to customer when to brachytherapists new strategic was It incremental few treatment by to was education recall launched on next already Cesium-XXX. aimed program how revenues. meet brand may a our adoption You best the program role and program that training This for develop believe and at of leadership of generating objectives. has collaboration available. generation wins in is

generation evidenced To is this the but that customer by trailing our net the role training in only prostate of the over base our continued over new accelerated market. customer in XX-month leadership the growth in brachytherapist is not past This is previous working period. quarter, this IsoRay's by put share versus XX% to increased physician It account growth year. clear months, XX context the next the of grow the our

The education We objective. do more brand other brachytherapy recently more isotopes. on to prostate will ABS realize also in the It allowed of Cesium-XXX part took versus education physicians in This one benefits We brachytherapy of and the to drive have adoption. to ventures similar present too than broader annual workshop and us awareness. continue continued training the Denver. us in gives

it Blu to participating. with play such pleased addition, more for brachytherapists us served demonstrations a XXX In that delivery. role forum for to attendance We than the at had Build first-hand great give event brachytherapy prostate real-time were very with prominent a

in numbers at interest this engagement. the few underscore represents have ABS like was recent because This numbers I attendance XX-year years a workshop in There little thence drawn this and attendance attendees. high.

very We a the There high by of level real engagement. focus on and part on the attendees. brachytherapy was of pleased are the enthusiasm understanding also

every the had demonstrate to In fact, Blu to our attendee. team opportunity Build

we the another interest reinforces in growing what the participation we have valuable field. saying saw respective of as about senior development. physicians This been the experience In addition,

forums, key As Blu our opportunities will like to showcase we build. fuel products continue take market Blu of of to the a did with remains proprietary these strategy advantage opportunity. Build part to we training

our ICD-XX-PCS meaningful of will setting. another front, the XXXX. second On inpatient be these We codes submission to become codes. half CMS Blu more contributor value on we've recommended in CMS our seen granted that movement proposition see for in have fiscal reimbursement Build as business the that to staff IsoRay prostate brachytherapy for a DRG a

allows hospitals the Cesium-XXX. of procedures benefit of We to code believe hear the the of important will pathways The codes support the Cesium-XXX October coding bill formal for surgical inpatient company is effect would approval recall from in procedures surgical notification for treat may that these to specific XXXX. further You of hard addition in new spring ICD-XX-PCS cancers. considerations growing hospital of a treating this code taking that hopes that with on X, the setting. The specific to applications

Technologies. to most Turning Medical they brain we to an In recent expanded GammaTile include for update, the GT on their with tumors. FDA understand working newly diagnosed that indication are

because effort GT under the by implications indication how active very are this for its is Medical proceeds the us of this Cesium-XXX We with and this for FDA, IsoRay. in review time At indication tells expanded Technologies FDA. interested

be fiscal GammaTile the continue country. Medical they to Technologies around introduce first quarter nominal the as Revenues from sales to GT centers the in

continue. As on I you and we where look different is goals brings believe and by change agree we about that the will will we very I at on and are how are our where when implementing results were are measurable today, remain started. of you than growth focus future. trajectory supported that a The this we we we We focused have been quickly team profitability and excited believe

turn to first Now the quarter. over fiscal the of results our review will I to Jonathan call

Jonathan Hunt

a November ago. quarter with XX. or our that be we while information some I'm for to Lori. the SEC fiscal ended you, first release contained discuss Thank of We released press that Form filed September anticipate around our short the financial on in XXXX, XX-Q XX, the was going that will

Revenue XXXX for XX% $X.XX last versus $X.XXX for the quarter period September grew XX, same ended to the year. million first million

of first mentioned growth increased quarter business, brachytherapy earlier, XX% primary revenue was Lori the which quarter the of company's versus As driver XXXX. the the for core prostate

First to quarter revenue was sales prostate comprised for revenue brachytherapy to brachytherapy attributed other primarily of cancers. of balance gynecological, treat and the brain, with of XX% colorectal XX% or other

to sales increased record the comparable quarter unit usage. our XX, compared September increase at XX.X% XX.X% a cost calendar Gross made The more ended of when a change for ended isotope prior as first percentage quarter period, compared unit XXXX. XXXX. to for of continued sales, discussed components previously costs XX, profit related and chain was to gross primarily and significantly the efficient the of supply isotope of by lower revenues are fixed driven costs leverage end lower isotope the within The to in margin the September cost our year higher XXXX year

$X.XX quarter when last million same increased year. dollars of XXX% period compared gross to the profit First

and research in of versus decrease X% Total as agreement, the research expenses decline a in primarily of a well GammaTile The total was increase sales expenses resulted to or and a consisting grant of compared to first agreed termination and development operating prior the marketing accrual year-over-year reversal Total therapy. quarter of of collaborative of research XX% XXXX in development mutually related and XX%. general year an with the which growth as $XXX,XXX. result quarter $X.XX expense million of expenses the the comparable decreased revenue totaled and administrative on R&D

recent would or we expense back increase above in R&D expect forward, prior Going quarters. to to levels

holding at currently with discussions are looking use of We Cesium-XXX. the institutions expanded

and and ASTRO shift headcount a well in Sales this largely year's increase whereas in quarter conference incentive October. related was versus increased revenue The as expenses year increased and travel increased prior expenses increase compensation the to the to XXXX by to sales marketing $XXX,XXX. Conference driven to comparable of was XX% due calendar primarily XX% expenses marketing as September, in

quarter by operating a XX% by and the compensation which $XXX,XXX of in first retirement was $X.X fiscal of a incentive the XXXX headcount increase included in expenses change year-over-year fiscal expenses during increase the first obligation related $XX,XXX. quarter term year-over-year represented asset first versus the quarter XX% of of result as expenses total increase in revenue. operating G&A The XXXX, of for of decreased an extension a primarily Total to estimate million XXXX. driven increased lease

increase change a ended XXXX. with million September this a XX, improvement compared September first of $XXX,XXX to posted million quarter quarter $X.XX one-time of XX, net gain net quarter loss IsoRay loss in or an Excluding ended for XXXX, expenses were operating of estimate, $X.XX X% of in for XXXX. the the first compared the significant the

IsoRay's for XX, asset the was gain Excluding change net in $XXX,XXX September one-time obligation, quarter ended of estimate loss the the and retirement XXXX.

loss basic based first results XXXX average fiscal was ended million XX.X approximately net outstanding the The per the XX, for September at share versus net year Basic million quarter diluted of and for XX.X prior versus loss are XXXX. share shares $X.XX quarter the diluted weighted of period. and $X.XX on

equivalents $X.XX Shareholders' XX, at cash of $X.XX the totaled zero XX, the XXXX has and end cash, XXXX. end million compared first at the had certificates fiscal of XXXX $X.XX million ended As XXXX The long-term fiscal versus that totaled million debt. of fiscal million XXXX. quarter at September deposit to end the equity of $X.XX company company June of

to institutional investors. call and analysts from over will operator turn I now take our the questions the to

Operator

Instructions] Ed will Woo Thank you. Ascendiant question Please we ahead. [Operator from And our first go with Capital. take

Ed Woo

question. a have I quarter. the on Congratulations Yes.

R&D little said a will investing next What are of couple You levels creep guys in that quarters. up you the be bit in?

Lori Woods

the We thank ways really looking … point comment always for new time, we we with this on as Cesium-XXX. of in comment, time, on And to will but can. And as partner this at in at can't we we folks that use point can't but soon your are for you

Ed Woo

Then in this the back next is do Build to on think is which be going Sure. going half Blu GammaTile, of year? one incremental you question to fiscal my and more

Lori Woods

you Well, their think at not but can't Build what excited for do what about is, because market privy comment on really I we I’m what us. we're know, -- can to Blu really GammaTile strategy

Ed Woo

see year. gross has of recognized? benefit you Will this you mentioned improvement then been margin because going incremental guys improvement, forward, And to or most earlier the change you the continue Great. supply

Lori Woods

guidance We lot we’re time. pieces currently this dealing not actually of moving on with. are that at that now a right providing just There's

Ed Woo

noticed or any change Sure. Then one Have out you other fully guys seen other there? providers there? the competition by Have had just competitors, any out in you general question. changes

Lori Woods

in really see you the competitors. some like We less from engagement and role I can taking less tell feel we're that of industry. our leadership I the

represent of customers and the who of engaged Some customers our feel trained have fully as helping like team to in Bard the kind is industry them are really great leader. in participation like and there I they industry. and out down a us slowed sales have potential well we their And

Ed Woo

Great. Thank you. Thanks questions good for answering my and luck.

Lori Woods

Thank so much. you

Operator

ahead. go And comes Wainwright. our next from He Please question Arthur with H.C.

Arthur He

hey, [ph]. RK for guys. my This quarter. question Arthur on congratulations strong Thanks taking is another for and

what assuming you strong year a run I would rate revenues, Should wonder first And for the for have revenue and regarding we push quarter new the the guys pull that year-over-year. So very the growth that the fiscal growth? be XXXX? just

Jonathan Hunt

many at provide Arthur, this including we’re and quarter. still moving thanks compliment we’re for just pieces Consistent GammaTile guidance working not the We we’ve just that. that. guidance point. Blu the on that with is able on that to appreciate so through, providing There been not what with Build doing, we’re

Arthur He

All right. Understood.

So you already Blu that just the early working launch next prepare I no so full guys regarding or -- problem. that year? being later still on launch want the full And Build, is to to this mode, or year

Lori Woods

know Carolina publicly we Cancer by closer You a more and adopted two in regardless get we South being will be facilities announced to of AnMed commercial Center Health, of of with all that in and who we launch, are both as communication you. Hollings

Arthur He

Okay, you. you questions. great. Thank my Thank taking for

Operator

Instructions] further I remarks. Lori at will call questions [Operator Woods appears time. for And turn any back closing no over this it are there the to

Lori Woods

team the to hard take a I looks Thank everybody evening. just to joining the like. want we've Enjoy you reach IsoRay. made the I think this a They or really worked really entire everyone to really us. out moment for really us say about quarter and to future and you for at thank gains Thanks your your and is I'm what testament afternoon joining excited today.

Operator

We And conclude that appreciate today’s does participation. your teleconference.

now and disconnect great your may have You day. a lines

Perspective Therapeutics (CATX) 12 Nov 192020 Q1 Earnings call transcript