ISR - Earnings call transcript Q3 2022 | Perspective Therapeutics, Inc.

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

Operator

Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to the Isoray's Fiscal 3Q 2022 Earnings Call. At this time, all participants will are in a listen-only mode. After management's prepared remarks, there will be a question-and-answer session. to call like host, to now Levin. Mark would turn over the the I ahead. go Please

Mark Levin

for operator. you, us fiscal earnings XX, the joining and today Isoray's ended call XXXX. XXXX quarter Thank third afternoon, for Good thank quarter March the you for

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

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

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

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

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

Lori Woods

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

of quarter, Trends our provide quarter Hunt experienced progress record Total versus results. have financial procedure the we as fiscal the a encouraged primarily $X.XX by XX% share of throughout million. prepared ago rebound, have I review expected. in of more record The as steadily the Financial prostate quarter we not third to and Officer, path third continued accelerated March. been am quarter. the a with our fiscal detailed Chief month volumes revenue both business, Following the Jonathan fiscal increased pleased quarter the our remarks, has culminating we the will my you been with year for revenue for increasing sales would in our realizing. to fast I'm third

brain, continuing procedures of brachytherapy primarily However, consideration two our The past our the more at confidence increasing revenue business the in years and delayed and of other of men incremental more head have rebound ongoing in business the the was increasing treatments in our for was Complementing rate. our growth quarter give steady and seeking quarter. March and treatment for the trends reached cancers. Non-prostate core prostate records who an growth by neck lung adoption isotope, are the that me over now prostate proprietary core treatment driven cancers. in treatment the March and

benefits to strong battling such continue Cesium's We to to opportunities bring cancers as see therapeutic these. critical more patients

University trial other difficult address the such about, build treat of using led key to efforts the these of adoption Certainly, from our by you be the Cesium-XXX Phase expansion continued the is we components. a sense clinical ongoing of of updated in the fueled driver cancers to is of play that the will two is a continue time, to One data meaningful studies. to at going keeping have cancers Cincinnati. same to Cesium-XXX key efficacy role. which X/X Our the been study, treatment At been by awareness compelling of researchers continued has

to doubt no head the to remember head other time, treatment safety Phase focuses part in at on neck year. X and combination we X move institutions. Cesium-XXX that cancer. start be anticipate Phase on portion and using significant the investigators brachytherapy study will that and larger patients trial. hope of the with prestigious is that You The happy inhibition closely At complete. the cancers with interest study in to of We're we neck for treatment this later patients of recurrent treatment of additions to see will of combination the move and following Cesium-XXX this these to The PD-X recurrent the looking a effect multi-institutional the the trial the evaluates now

Given quality surgery and radiation subsequent high life head recurrence deterioration and the who substantial. neck cancers, rate have of the in patients many for to undergo in oftentimes is

excited Merck's may the effective potential potential the with As study in regimen, and as damage prior demonstrate demonstrated but adjacent studies, combination inhibitor neck. adjacent of was such targeted effects, that side collateral terms in PD-X the about radiation approach possible in to healthy Cesium-XXX's safety tissues control. Cesium-XXX in fewer less offers radiation-related to treatment KEYTRUDA We're structures and critical a damage disease of prospective head the and brachytherapy with

continuing it key promise amongst and We Cesium-XXX makes it the awareness constituencies. contribution in professional are of build confident to holds in important the

will the to We keep study continue you progresses. as updated

the as of GammaTile Another the compelling meeting suggests of demonstrated the Neurological Association benefits strategy the the only certain continue enhanced to effectiveness unique relative non-prostate in additional believe the the and trials week Cesium-XXX these, beam in business. not these head GammaTile aspects key interesting core The recurrent regimens, of implants at as with the of Philadelphia. in series last Surgeons other will treatment glioblastoma be life of Clinical data our of areas by abstract cancers, powered for and option, therapy. and patients but quality external Cesium-XXX treatment studies Cesium-XXX. growth of our treated will a remain outcomes for radiation scientific additional for clinical in presented Similar to R&D. we to targeted will invest radiation such studies, drivers growth studies radiation American of was the embedded seeds Therapy We neck of such part

our urology. meeting. focused urologic also in This organization is It Urological innovations creating attending with continuing AUA, with the our American within diagnose urologists opportunities tools latest leadership on the constituencies. considered central further information be with build in position are strategic Being to the AUA markets will this leveraging and foremost efforts and We urologists or meeting on the awareness brand the annual connecting a at The Association, industry to our and is because partnership meeting critical to aimed role week, we a and urologic provides medicine. diseases. a physicians part of effectively treat plays gathering providing more in key

This opportunities, practicing anticipated have and state-of-the-art will event at center stage. in this in this Society central meeting years meetings American recognized central medicine interactive community. a annual annual meaningful. in-person is the are of software we of and see on this part on attendance excited will brachytherapy month and and equipment, high demonstrations sessions is field Therapy Another be two in Isoray a the prestigious year's XXXX known first experts in to This services, impact profile provides next are annual year's conference Denver Brachytherapy widely in ABS the widely role for outstanding event event. educational for their hands of oncologists industry value well with almost it

Uncertainty, MD assisted of sponsor, the Anderson a Center The symposia CX MRI will radiosurgery MRI for assisted or Precision benefits Radiation Increase Toxicity on the presenting. Sirius Cesium-XXX. lunch be entitled inventor Reduce of technique As radiosurgery, of Eliminate J. prostate cancer. Anderson is and MD, Dr. Marker MARS, hosting Isoray will the using treatment a Frank, at and Oncologist the MD Cancer be Steven lecture

by radiosurgery assisted dose every approved external outcomes. Dr. is used to MRI at that by described with quality to the precise utilizing brachytherapy lesions, assurance Cesium-XXX Marker. sphincter is Sirius planning conjunction As treatment Frank, dominant be and enables generation improve to process of to the in next intraprostatic of clinical reduces the urethral isotope step the ensures FDA MARS exposure is only radiation the delivery. MRI

validations a launch this to processes formal later year. work to our of and continue We in anticipation finalize

Group, cumulative how Cesium-XXX in experience to implants in In addition together and patients two submitted recommendations the Advisory practitioners of abstracts their confident Cesium-XXX implant experience abstracts to from can each has using These best CAG. experience new targets are of CAG using luncheon, who and be treat provide or from Cesium-XXX. Isoray benefit to their from physicians the knowledge years XX came they the on based how on This Cesium-XXX. who

in our source want to supply both the are separate we of turn isotope I currently two cesium that over call Before chain. address Russia. isotope Jonathan, which located I reactors, Recall our from to

a have isotope disruptions not have a delays or significant reactors. any consistent is to is We sanctions. experienced that not supply importance, medical continue date subject Cesium-XXX particular of from Of any to isotope to these and

chain We but that there time. is closely believe do a the not the this to continue to at monitor situation risk supply

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

Jonathan Hunt

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

increases. revenue the to future revenue with to or higher was ago were we of in drivers the brachytherapy, cost product of of support result the the supply the increased expense payroll result isotope merit quarter due XX% points increase and and ordering year when prostate quarter. for other attributed The benefits sales balance quarter to company. when therapy compared coming comprised of primary second Gross to XX% XX% of fiscal as additional to sequentially due cost increased primary brachytherapy margin driven growth reactor additional XXX a of incurred from isotope the basis cost online Third

by payroll year prior audit increases, sales quarter The compensation year-over-year comparable quarter the comparable XXXX. research. expenses research versus to prior due marketing and prior administrative when XX% $XXX,XXX. period. general The was related and expenses was XXXX. consulting due increased due primarily year $X.XX comparable period of expense public and and X.X% in versus the to expense increased The million prior development, severance, headcount, merit of headcount and expenses, quarter premiums, increased market to expense and quarter increased and and million versus result expenses the Total XX% expenses costs consisting $XXX,XXX. the G&A and of versus greater marketing gross XX% third sales and year. benefits increase year due annual travel increases fiscal and insurance expenses, expenses tradeshow to million to operating company represented last quarter and increased $X.XX of travel in $X.XX comparable in research payroll XX% an and payroll versus marketing same R&D profit million versus Total $X.XX primarily merit to and period dollars prior in D&O the and expenses, to expenses, IT increase expenses increase compared comparable total increased and Third the greater primarily development benefits employment to hiring in consulting expense year the third of increase legal year versus expenses period. hires new was incentive increase and to an in increases benefits the increased Sales driven increases the of

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

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

Operator

questions. The is [Operator now Instructions]. Certainly. open floor for

Frank Takkinen is Your your first Lake pose question. Please coming Street Capital question from with Markets.

line is Your live.

Frank Takkinen

questions. with Great. start wanted you Thanks environment. to the are I taking about my for just feeling how

provide extend in that January, what could commentary, at point? February you're approaching that'd and March. environment into out could if be you and we're this you month-to-month a and And If any feeling May you're fantastic, then normalized that there, feeling more April if

Lori Woods

COVID-related of of by be else previous Frank. If is impact resolving Hi, May Access progress what in January through February, January that is Good what recent the maybe I was been And seems variances, as from a as to some some hasn't back afternoon. think much is seeing somewhat. and issues. start everyone healthcare we at to and impact some we April felt to seeing slight ongoing look and we're these ones. there we that impacted

So been steady, physicians see. nice see to to to stay has continue which we and hospitals access really pretty

Frank Takkinen

accelerate And sales Okay, on is comment call, that time is this helpful. I call some remembering. to and the our now recall that's efforts there's from marketing I then I'm commentary know the the and last

the of forward happened on we made; you investments what some of quarter about some have been on of expecting, initiatives a should think headcount, be do these from the what what curious and that internal Just revenue basis? accelerating in marketing, kind

Lori Woods

the people sales the well So as and we direct other we're on with dedicated sales into in there. right to daily that consumer our report the doing increasing about hope system and a to a on absolutely we've as in now. of lot next marketing, people through areas. right like as all presence And have things investments past, bit to working we're And and now. we're to resumes that doing choices It But little are takes right talked time process of get and the make get interviewed to quarter. basis that a the

Frank Takkinen

And me, the I just last one on Russian Okay. then the for commentary appreciate reactors.

in at to your you of place not relatively Just time? diversify Russia, predictable that's point curious initiatives point there's feel extend in needing this and to any feel like at outside to supply and a if geography this you is unnecessary or new

Lori Woods

been Well, very comfortable our I'd as prior that what we say the from this options look particular incident to we we supply to But different at well. always getting have isotope and currently, feel are, have Russia. with

hiccups this terms we to in in pretty We supply of Russia in have be Russian else. to either need go no had point we from reactor. feel And confident looking anywhere at don't that time,

always like we're this, now very have but comfortable. will we We right prior investigate to other options feeling

Frank Takkinen

color. the Great. quarter. on questions my That's congrats good all the taking in and Appreciate progress

Lori Woods

Frank. Thanks,

Operator

question. is question Please Ott from next Your coming Oppenheimer. Mike pose your with

is line Your live.

Mike Ott

was quarters gross taking of supply ahead I fiscal my Lori and up Hi, Russian think for Thanks last the that Jonathan. how questions question, late maybe to you the came and that of But the some last going margin reactor margin in your intact, few isotopes, costs year obviously expect XQ new Picking or delays airfreight if we estimates. about no the you chain continue tonight. next following forward? gross on higher said and is those around know our online should

Lori Woods

is And experiencing There right everybody now. any supply cost think in a that. industry is chain Absolutely. I lot of pressure

impact. gross a we're always don't forward, I our margins that But I kinds in have grow to best have way huge the that the possible. try to continue know it to things looking going doing, we're So as would of we think

well expect where I see to those at have, we'll the to are continue change a immediate of as and timeframe. over our if possibly in that wouldn't you always as we although So I can lot manage margins think now, look right

Mike Ott

that trial. to Thanks, that's to year? know And Okay, portion finishing get Phase you're the the X X And might portion great helpful. calendar Lori. then, this do from first the on of Cincinnati you when hoping we yet later hear readout Phase University the start the of

Lori Woods

follow a So patients to those little for bit. they're going

patients sure see next those that, X Phase expect expect to But patients that doing talking that to wouldn't that well. progress phase the the couple to want we very year I accrue of and entry of because the for start specifically, So does the be make they are in assuming end that quarters that about then like would as toward into to somewhere well.

we're So also get excited X. out to get on to pretty to point that the and information Phase

Mike Ott

Great. questions. Thanks so my much for taking

Lori Woods

Thanks, Mike.

Operator

Tim from your question pose Please next question. with Chiang is Your coming Northland.

live. Your line is

Tim Chiang

Lori. Hi,

quarter Are hospital experiencing think abate? mentioned when that last you if so, those had as the procedures. right headwinds brachytherapy think staffing one still do greater I now? to shortages you you will And of

Lori Woods

employment that board, and setting. of than that we hospitals continues kind the handle system include of does And that ease although of on. I surgery we past. the have seeing will think hospital maybe they I in coming centers, might I the think of as and the up. have in we to good see kinds to point, We're some to have a ambulatory ambulatory wish still that wave that setting have the surgery do across through than patients be And when volumes system pressures crystal the employees seeing able reason doesn't to part And seen the haven't ball are, on number that of to going less we it that of be the don't your the

certainly to across numbers and board, And very employees watch will people many that you the right think the continue be concern. something if closely. right the at a look employment is I industries, having employees of

Tim Chiang

one And maybe follow up. just

run Is that year-over-year. you around think, going sort or expense of that said Jonathan, R&D had up good a forward? so rate XX% I is

Jonathan Hunt

change. neighborhood there. that in keep in We'll be pretty staying of it's been a kind rate obviously we updated as run now that category. and you Yes, the it things that quarters, would for last several But should anticipate good

Tim Chiang

had I Proximie Right. one to planning last are programs leverage still virtual face-to-face forward? for doing type more training that, or doing But know you you. you using you going And maybe are on that been question, Lori, programs.

Lori Woods

can that get we easiest it's excited physician. be pretty back we're face-to-face. on for So is based the into to the what And going really

offer So to we're both. going

a don't we training physicians with and in get their lot opportunity of Some to that want the leave of But get another to them have with meet the out found people time and physician. face-to-face together do to practices. and have the really

supply of really training decide physicians those so them to to we're to best continue works both going them. opportunities what And and let for

Tim Chiang

And coming you this meeting many you plan conference, I up. mentioned How do meet the wondering? physicians was up with just AUA to at

Lori Woods

meeting, interested are as urologic conference. companies have to well that any us some have. physicians we there. where presence can come several like many have the to to one-on-one getting can necessarily and as spend with spend there a are sure that folks we're as AUA We because additional be additional there some that we that this had and there to we a the that questions the cesium meetings we've going really and information of with we've time in they're those for past they'd meeting time such So we and are it's met then prior with a that in know they meeting, And that ask the our a cases use aren't with floor, on as huge but other they exhibitor opportunity physicians physicians meet reason, with that an the us. in presence to so so we it's them, meeting staff of big big as And large making

Tim Chiang

I see.

thanks for Well, right. the Lori. all color, Okay,

Lori Woods

Thanks, much. Tim, so

Operator

follow-up back your And in question. pose Instructions]. [Operator is Chiang queue a Please with the question. Tim

line Your live. is

Tim Chiang

have opportunities? I on year? since just looking I've business of question, amount been And well have Lori, do cash, still as wondering, because doing right? you of at development obviously you, guys -- plan this do business ask significant still I business might you development have the development And any sort you you

Lori Woods

speak. our of have absolutely things that those Yes, call say up significantly. are today looking the process we this, that. are have at getting don't with think in we areas for it opportunities. market those distribution, our looking would guidance And that specific definitely telling at participating looking doing We be, we around is the on market And joint expenses I or support very is interesting. was venture, things we research might in development analysis yes, been that we're Because kind of companies further find really what definitely to business give either that we is some I whatever at into we're one as

Tim Chiang

Lori. Thanks, super. Okay,

Lori Woods

much. so Thanks

Operator

There at floor be the queue no questions remarks. appear back turn to closing time. like this would in now further I for to

Lori Woods

you Thank you today. us Bye-bye. have evening. hope joining We everybody great for a

Operator

does Thank you. this conference Ladies and gentlemen, today's conclude call.

at time, lines this have phone Thank your day. your disconnect may for you and a You participation. wonderful

Perspective Therapeutics (CATX) 11 May 222022 Q3 Earnings call transcript