CATX - Earnings call 3 2021 | Perspective Therapeutics, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings, and welcome to Isoray Inc.'s Q3 Fiscal Year 2021 Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mark Levin of Investor Relations.

Mark Levin

Thank you, operator. Good afternoon, and thank you for joining us today, for the Isoray Fiscal Third Quarter 2021 Earnings Call for the quarter ended March 31, 2021.

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

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

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

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

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

we investors. I Following call will from prepared and questions institutional remarks, their to Lori analysts will our the turn now take over Woods.

Lori Holmes-Woods

afternoon, for quarter the ended Thank joining us XXXX. you Conference Call Quarter Good thank you, today Mark. Third for March and Earnings for Isoray's XXXX Fiscal XX,

was a XX% record growth for quarter the Fiscal of best third to total the our provide as Jonathan progress increasing third will the This revenue to Officer, Following experienced with to increased onset quarter pleased revenue Financial the quarter am we a detailed have quarter only my results. I share review but we future third from with since prepared our decreased remarks, confidence the in financial ago, Hunt, more look million. sequentially pandemic. XX% Isoray. quarter of $X.X fiscal Chief the fiscal at the year you opportunities

Although quarter I experienced prostate growing a the cancers. The of in revenue year ago, as significant growth our record screenings prostate of our for that in brachytherapy belief strength we well treatment treatments patients our and result the the in business third cancer by quarter uptick who fiscal encouraged backlog sequential in is seeking pandemic. treatment sequential a am hard-to-treat other core declined a adoptions from our will there prostate reinforces X% as delayed of have men many our checkups, annual be revenue during the as who the

as patients We screening expect continued business these gradual the an rate. come increasing and prostate treatment through process growth core at in our

We are also last experiencing hospitals greater other time since started and have physicians we any at COVID access to than had year.

in added the rebounds. have should we serve market Blu our as expected gains that us many are physician partnership in Build, believe with of including regard. programs that Initiatives, At time, prostate over continued strategic same post-pandemic share Imaging we well active the of to past support training years drive and introductions our expected the product couple initiatives as CX such

important during brain, opportunities. strengthening head year strategic time. believe significant brain greatly subsequent to Non-prostate of quarter. enhanced like neck record growth and over from again, to to a revenue the the business, increasingly and in sequentially capital the surgical of capital and the we majority grow moves on of $XXX,XXX. cancer non-prostate revenue raise Isoray's capitalize versus our We cancers of us total have balance sheet, part quarter Isoray's were allow treatments. Through applications enhanced position the fiscal that increased brachytherapy abilities completed and revenue will was make a meaningful Once for lung encompasses non-prostate and XX% Our third our other to XX% prior again which continue more quarter

market Isoray's with increasing build leadership particularly allow taken past brand years. adoptions. prostate to continue will position to to The in here few us to and us marketing. sales expect product First, additional on on have It and goal over capitalize foster to we our the investments, core awareness steps focus also in is investing the

focus the sales Vice our her and and sales uniquely Fort organizations and Reflecting Sales in on Marketing. believe marketing on recent our this efforts. of addition positions leading is successful extensive marketing background our lead sales to We within team Donna's of President and industry Donna as establishing

medical had experience spans isotopes remember for a radioactive may companies, emphasis announcement X You complex, technologies. with Donna launching our monoclonal in multidisciplinary role recent and has including pivotal device this products numerous all both in her isotopes on cancer. and that biotechnology an antibody radioactive

by immunotherapy, we strategic shared at with Donna's we our some with Isoray's therapy will markets. confident be for a to time Donna oncologic us experience that expectation feel that including agents, have beneficial particularly vision developments you. be combination to joins will growing fueled valuable Further, take market prostate key new of growth in brachytherapy advantage pivotal projected

from discussed of With the the position. as implementation see future cancer anticipated previously we changes or we pandemic, for diagnosis along positives RO-APM, the emerge prostate reimbursement increased market with the Isoray's

are core see use a our of we pleased Beyond growing brain treatment the Cesium-XXX to market, cancers. of for prostate

where cancers, applications, to growing promise. similar As in we believe continue to at surgical is treatment we increase look expect the we there other of investments

clinical well We treatments are Cesium-XXX future studies technologies as further of evaluating the support growth other to as these in delivery cancers.

with the run like shared lung treat before, out like and to cancer, have head aggressive cancers, doctors and address you them and patients we As often who much solutions neck. of brain

yield. of for Cesium-XXX therapy, but weight in the the We important more increasing given data be such radiation of combination not therapies. only immuno-oncology in will clinical This as a which with also trials, and particularly is trials investments standalone development research increasingly targeted in development, essential, are the

immuno-oncology and include we Those with head cancer are which recurrent studies, As discussed, X trial getting KEYTRUDA. just have have the we neck underway.

evolution come treatment treatment options. The of The other cancers this of the for be with the for melanoma in of trial other investment our is to cancer the area critical at envision therapies Future similar will leading-edge investments metastatic focus will final we be targeted new that position for valuable in time OPDIVO. of delivery radioisotopes combination at complement potentially and best treatment looking in other be incremental various suited other broaden whose could technologies may of potentially This radiation therapies. portfolio may qualities Cesium-XXX and devices treating or form opportunities our the cancers. to

or evaluating strategic come products, such are We which partnerships via acquisitions, could development. internal

and plans our record proven in Lauer, President It Lisa's management. execution opportunities portfolio development and we of Lisa was commercial strategic the hired Vice with reimbursement Development. these market execution, we mind that and announced track to growth whom as recently her Business of speak accomplishments in strategic access,

Lisa's to device over and was expanding disease that in on key endoscopic of responsibility focus broad believe for and itself direct well treatment focused malignant a also market lung adoption area lends a We of benign portfolio diagnosis the Cesium-XXX.

implementation for addition, our remain In treatment we prostate instrumental another yet the cancer cancer Cesium-XXX evolving share strengths will on and in core Leveraging to at of focused also seeds strategies these development prostate evaluation her development the for is value-add, expanding position previous the Isoray of Isoray in business. marketplace. be in experience as go-to-market market our and

ever have these see, long-lasting efforts and before pandemic, of growth. who patients We the times for continued remain remain can than to are you on Despite optimistic our the success them. more we our As We the path believe will for benefits strategic focused efforts. our and executing about cancer Isoray. our doctors future plans exciting treat

Now to review fiscal results our quarter to detail. I the call turn the in will over of Jonathan more third

Jonathan Hunt

released press in XX-Q discuss financial XX% quarter March record our March to you, will information Thank be XX. Revenue $X.XX release for short a was $X.X Form XXXX, decreased for same with We last that of the Lori. or some that SEC contained ago. May I'm year. we quarter our million versus around the anticipate ended XXXX, filed third million XX, the while for going third period the ended the fiscal on to that XX, the

As Lori quarter XX% impacted December versus brachytherapy to third from revenue XX% sequentially XXXX. continued quarter volumes XXXX, Prostate COVID-XX. as revenue XX, by total the fiscal fiscal of mentioned declined the ended be earlier, second procedure increased

shares the compensation, results well versus quarter COVID-XX X% a revenue period. XX% for by result brachytherapy other $XXX,XXX XX% was XX, the ended was of at decreased driven and comprised brain and as XXXX. system development prior third was outstanding protocol director decreased year development revenue expense decreased expenses a XXXX, representing profit expenses compared as sales represented the and in XXX.X XX% was ended for research was sales average sales quarter quarter of XX, decrease period. G&A treat of lung XX.X% March compared of the development, with increased expenses, offset increased basic of greater was loss as general the increased costs year the of $X.XX March to to share-based dollars when March decline, marketing and of the payroll, due revenue to from million an balance share and quarter of XX% fees. Isoray's for bad $X.XX declines Basic based March brachytherapy fiscal the fiscal increased cancers. Gross insurance quarter expenses, loss increase comparable to the year-over-year third the incentive year-over-year XX% revenue diluted million as quarter The were by merit $X.XX benefits employee total expenses of of compensation versus reduction XXXX, The $X.XX The million, XX% the the quarter to same of compared fiscal COVID-XX versus attributed of partially comprised trade of Other expenses IT, comparable result a expenses resulting million, due of The Build percentage $XXX,XXX quarter XX.X% operating for XXXX. totaled prior on ended net consulting costs increased in travel XXXX. Third third and compared and million for to net of quarter which XXXX the increased third XX.X revenues Driven $X.XX net the lower third to R&D legal was expense, decreased other loss the year decrease debt gross by year. profit third primarily quarter ended period and majority third brachytherapy. XXXX. Total officer payroll consisting that revenue year prostate or the quarter approximately ended prior and and versus for XX, show quarter for to increases. versus the March last primarily headcount loss was prior the Total share $XXX,XXX. hiring due marketing, versus the administrative and costs a as marketing and research the offset X% versus travel quarter XXXX. to Blu per XX, was expense revenue primarily and restrictions decreased delivery period. Sales limitations by comparable increase net growth weighted comparable versus and to the well for diluted The of to and and are quarter $XXX,XXX. year XX, XXXX. increase prior in of partially in expenses and

end and company As equivalents of approximately per cash The million of at compared to XX, XX, March million $X.XX or $XX.X XXXX that will of ended XXXX. XXXX, $XX.X end X share at the the fiscal quarter deposit the questions investors. totaled year long-term from analysts had $X.XX to XXXX. I cash, of company has June the certificates XXXX debt. turn third take fiscal totaled million end Shareholders' over the of at year fiscal million the the our call institutional and to operator now versus $X.X equity

Operator

Lake first Street Instructions] Capital question Markets. [Operator Takkinen is with from Our Frank

Frank Takkinen

And us give if you QX. early QX? sequential those maybe with as in trending share first. it quarter. prostate early part in your procedural us return Congrats information start market monthly the I growth an to how trended was that taste could the over to some you wanted have on into brachy hoping with I the been procedural primary volumes could fiscal fiscal of

Lori Holmes-Woods

Frank, of to starting love, access we kind what's haven't had since that the physicians through our are has don't they number starting are on pandemic specific with and se, forward. what up lot an started. to marketplace, hospitals happens. a channels before are from brachytherapy hear the procedure, actually view who starting and would coming of what couple increased and we how sort had So per have physicians in, of filling of get are to numbers work the of out gotten It's seeing We've we that address about, patients And they the system. an a we physicians not pandemic to but diagnosed gotten thing moving we're through. kind to happen, and different a they immediate are The you've of seeing as excited through in coming that but of the see to to that and we give guidance I move those patients patient

see well. we're starting and So to our are as numbers to that, see very excited excited are that to reflect that we

feel we lot of gives credibility what seeing. So we're like to that a

Frank Takkinen

feel can take Got how the it. hoping specific wanted overview to That's brand I that well. revenues, the of this to particularly positioned time? moment a you're over you helpful. cancer over brain you kind feel us a move continues I perform and you brachytherapy could non-prostate trend as of to just brachytherapy was and give to to broader how market

Lori Holmes-Woods

absolutely. Yes,

brachytherapy, of that surprisingly, think, we we've getting with the patients aren't begin prostate. degree is, some brain because to to that kind seen with same have most of I or haven't problem gotten the into diagnosed And kind So seen likely in system.

expecting So you're were bit grow. return we in see a And which we to as to here numbers, definitely early little the what to seeing seeing number pandemic numbers we're those But we're report growth on flat. now that a surprisingly, today. that saw continue those in is

initiatives patients. those previously be are GT Medical kinds trials that are to There of centers we they going things, and have where a reported having with started about of enrolling been that lot Technologies clinical

that. I think see to some of we're starting

both, that haven't the think front we're few back see able neurosurgeons quarters for that again, in to same oncologists us, radiation and been have and starting get they to also where I flexibility. have of we last

physicians help Cesium-XXX these And the we being in that brain, coming and back And they numbers. before, really benefits because metastatic all have, that we any the and to understand of the seeing and able continue talk brain. that you're for in cancer as to and expect to can is Medical them to of approval grow treatment, we has now Their and Technologies reported GT expanded. treat for

that And procedure. be allows for to of so a patients this broader selected particular group

on see to quarters area in grow. the we some upcoming we this this, to upticks see continuing And expect definitely. So

Frank Takkinen

neck me. in Perfect. I area studies some could area milestones And KEYTRUDA the head for then just last you as was in with OPDIVO. of remind potential associated hoping lines as time underway one around with us your melanoma with and well the

Lori Holmes-Woods

Absolutely.

our patients milestones go this to to accrual. be starting lot for then had really data accrue would at trials, where going So years, reflective and of faster a at look the be expecting we you prostate out. And XX are we unlike to

would involved out months, these getting XX and about year, be that talk what's a trials. wanting happening clinical would these XX the patients with the we So months, centers in expect datasets to

Operator

Our next Ott with question is from Oppenheimer. Mike

Michael Ott

new to all and seen using Blu with obviously evaluate any customers fairly Jonathan. guys, Or Build, they unique you access Congrats is on still you start is improving. are preoccupied Lori mentioned Build? a nice quarter, COVID? On you that hospital which Have Blu or

Lori Holmes-Woods

be the period to is a familiar that of fairly we've noticed COVID. types lot are with. the staying that time this physicians tend they preoccupied procedures with They of What Yes. of are with during

So increasing categorize number process. them if evaluation have of that in you in we people as and several process, the

in certainly seeing from brachytherapy, process think come getting think us product. start the we them they then having COVID using actually that of coming their terms of the I seeing down as into this up seeing has into going and slowed we'll them COVID start we'll more I And move start and using product, offices scheduled evaluation patients In area. out

Michael Ott

hear. great That's to

was MRI January. marker in launch if that CX? wonder then targeting, Okay. still back fiscal cleared us just KOLs on gears shifting Are could you I validation traction with the I the work? full for internal 'XX any own update of on believe, and your CX you And also that,

Lori Holmes-Woods

Yes.

we So line. time still are targeting that definitely

with proceeding been internal valuations. our have We

being to close very we're think I finished.

have this in fine the us, and this a that we to that evaluation ready We're some would that to MD particular, for I product market We Anderson, milestones that on needed KOLs make and all things we're sure for year. with put full for in our so that we say are -- had do our along in to engaged -- be release to able little moving we are place accomplish the our time line just on this later on launch.

Michael Ott

Despite we the Good. to back COVID tapering U.S. in And new finally, a March, supply in JSC chain with disruptions. signed Isotope. anyway, purchasing reading seem be more about agreement off you

supply days? Just chain these doing your curious how is

Lori Holmes-Woods

question. great a that's Yes,

at really solid that entire not by Russia in well issues Our supply have that this all. over any with We And biggest easy plans to us What's our epidemic. -- had particular airlines, was been switching happening has in and throughout to their chain had that managed. issue has in different think place. speaks that how I've this group before, spoken facilities? was Any very the already for we I overcome to to

So by getting from nor been the and not at all. any -- in expecting any Russia we're on expecting last the a issues up U.S., there, and isotope having issues us to this not we year in of issues backed here are any isotope, perspective ground has getting that on our the

Operator

will to end more questions? turn are there the and remarks. the no I call closing more like then for Woods Okay. any Are there question-and-answer If questions, Lori back this to would session,

Lori Holmes-Woods

a afternoon. time great We Have appreciate Thank Bye-bye. you, and afternoon. your everyone, this for joining attention. us

Perspective Therapeutics (CATX) 13 May 212021 Q3 Earnings call transcript