TRXC - Earnings call transcript Q3 2017

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Operator

Good morning ladies and gentlemen, and welcome to the TransEnterix Third Quarter 2017 Financial and Operating Results Conference Call.

As a reminder, this conference call is webcast live and recorded. It is now my pleasure to introduce your host, Mr. Mark Klausner, of Westwood Partners. Please go ahead, sir.

Mark Klausner

afternoon. Good for TransEnterix's you conference quarter us call. joining thank third for XXXX And

today's the President and is Officer, us call like call Joining on that you TransEnterix's Joe I and this Executive to remind on our visit replay Officer, being To access site. Todd its and Vice site, A recorded. will the and Web link the Financial event of President webcast Chief be webcast, our is please Slattery. would IR available transenterix.com. live of following Web Events Pope; in the Executive section Chief call the

Before Private differ during provided caution listeners this this Securities of Actual XXXX. associated Litigation begin, and Harbor covered risks that those undertakes management no are update from would call due implied obligation Safe business. Company by stated statements uncertainties Reform forward-looking statements Act discussed forward-looking by we The on like materially conference to under results I call. information the certain could our of to to with Company's the the or the information Provisions

discussion review a with to the Company's risks filed For for XX-K Securities TransEnterix expected be associated ended the XX-Q XX, the Form the the today. including Exchange Form the and Commission filings September for XXXX, you XX, encourage year and business, I and ended with December of to uncertainties XXXX, quarter

financial that the certain adjusted pleasure accompany presented and U.S. core can non-GAAP non-cash GAAP the and management relative benchmark information tables and site. and performance During with not which in measures results over the and income the operating to both in results. our Pope. Executive financial compare non-GAAP non-GAAP by TransEnterix's in believes adjusted are other to section indicative will financial performance relating Reconciliations to measures share. for useful our to taken our to Todd certain turn certain are uses information excluding provide externally be for we GAAP Relations against plans measures Management Management expenses of that U.S. earnings non-GAAP company's of strategic that Chief call present also decisions. and the net per Web Investor conjunction my compensation our call Officer, and forecast found competitors to release, earnings between it's that, With President investors

Todd Pope

recently welcome to our U.S. conference And Mark. roadmap. then I call. will third update I will clearance. early provide a FDA our to you, European XXXX update. to it then call, turn efforts, Thank I our will our provide On progress Joe quarter product announced our start and financial by our an on today's Senhance discussing over commercialization development commercialization, on

first surgical currently robotics United entry what accomplished of have abdominal been surgeons the will the be available can boundaries into FDA Surgical year States of representing the open a company milestone then Senhance questions. the for and the On significant the the announced We XXXX. clearance we October new now, since with line surgical technologies. XX, Until for broader laparoscopic System, approaching in the robotics market,

procedures. over surgery, cleared procedures these are of both to room, and in in This Senhance in like commercialization. the unmet to now oncologic for to I use seeking Joe? addition, colorectal it gynecologic Senhance, procedures and that, a the over gives successful attention that and immediate treatments and innovative gynecologic The very In to update. we excited utilizing now these these laparoscopic ergonomics indication encompasses benign States the ways us needs. and Joe annual which the the addresses States, XX novel two same surgery, within initial continually United opportunity would Senhance We're X.X [ph] improve ahead surgeons importantly, for million access turning design laparoscopic a specialties. in the technology With include was financial colorectal and about are operating these for to United our hand different lies

Joe Slattery

Thanks, Todd.

September XXXX for Adjusted approximately primarily net from XX, million compared GAAP year deferred ended to per XXXX, revenue prior intangible R&D three related and loss field quarter Cost of in and per in overhead for adjusting $XX.X to $X.XX in the million we related revenue warrants, the million expenses XX, recognition assets, compared year the related in or prior or net of $XX to loss as related in increased as months prior to warrants, million FDA million our U.S. in of $X.XX $X.X anticipation million organization. service September $X.X contingent administrative charges to due approximately system prior of the cost a was consideration. net of of expenses after per Non-cash was decreased to adjusted the efforts infrastructure and Senhance period. $XXX,XXX activities. consideration $X.X approximately to amortization the intangible in costs share amortization as $XXX,XXX, year reported application or or primarily commercial launch. to slightly assets, For quarter in quarter. year related of in the period non-cash pervious period. well for $XX.X and the contingent $X.X quarter to quarter million, the timing share charges at per of of from the was ended $XX.X million commercial the in period the $X.XX increased which service revenue General to million, the due net $X totaled prior $X.XX our included marketing expenses the compared from Sales loss to million the share quarter million, loss build-out sales. Europe the to GAAP share year the $XX.X period, our $X.X primarily of to in of

Series million this year, we third after finished an equity $XX.X of completed A expired the sheet, that offering clearance the quarter exercise that warrants as was exercised, with the of Senhance, with which B date, Earlier approximately of FDA of $XX.X to as well Moving five-year announcement of the resulting proceeds balance all included been to the a have of company. in Series the XX warrants period. restricted. To cash million we the A Series on warrants $X.X days million,

$XX.X also we equity proceeds this had $XX August, We program, have September October Also, commonly a XX, $XX.X exercises offering. equity million from offering, million. offering On proceeds Series warrant we in and the as since concluded proceeds in net million. also established the received of warrants. In received aftermarket were relating $X.X total, million an to in known other XX B resulting

common As outstanding a now XXXX $XXX.X as is cash and million November X, balance result restricted of of these financings, our totaled and shares. October our cash million, XXX.X XX, share of

and have and believe We through for have We that sufficiently no XXXX the geographies. other to near-term. are invest plans execute equity in and are financings we commercialization positioned extremely capitalized additional continued well we to Todd? beyond, in efforts U.S. expanded

Todd Pope

Joe. I would now like provide you, commercialization. our Thank to on an update EU

pleased regulatory currently University sales of with at as This does National like Asia, four speaks the demonstration September. we've commences. have This is in deferred will have Taipei, to maturing six in regulatory is guidance system, associated in be facility sale XXXX. the and in We in in continue The we interest installed line is a our now not feel in Taiwan with level system underway do our Taiwan. we of second is expect I developing in Taiwan system the to the of system the regions regulatory to cycle sale Revenues not we Europe yet in the am in serve approval high capital in clearance quarters. this and pipeline the which Hospital, use the made the sale and that announce the until where process closed well region, clearance as will will even approvals. to in occur clinical

States, to robotics. system Asia countries a already that region. also an populations, due region fourth recently only other world's to we growth commercial their I'm for see not quarter, for pleased pursue are to the report we've market an other and and TransEnterix, continue tracking. we in appealing received Europe, this for opportunities Naturally behind in and evaluate this the advance a the about the we to United which eagerness but of robotics to and is for Japan marketplace substantial opportunities largest technology. order their is in that in deliver optimistic to second we will significant demand expect is market, the potential are robotics, continue significant

U.S. Senhance to with on our are the into commercial moving we focused driving Now clearance, now the FDA update; adoption of the on U.S. commercial

XX sales initial expanded our of our team, commercial which total significantly we As have part now launch, professionals.

from high said indications Having Italy initial procedures, team which will hospitals of colorectal, GYN our our raised Germany part with Europe, target in we the strong that, key volume a accounts. sites and efforts. as U.S. market had the we be these high targeting place covering team our in the and four feel to hospitals to to we six expect sales priority cycle that As of effective we average are we Similar covered have we members customer our U.S. has surgeons the of executive in hosted several have at and conferences, Senhance; of and quarters development presence U.S. visibility global also in a

live opportunity to surgery, preclinical labs helping participate the our surgeons value company to visits, the On U.S. while these proposition. and observe have hone in had

the of on on are that their minutes, by highlighted most The FDA excellent, year, As of for These was and given also that times He colorectal stated the a for an use San surgery, at widely optimistic first hospital operative the American in end Senhance supports Laparoscopy which October largest as November. two We data of have hospitals surgical of ACS, Stephan's range as place used docking U.S. our procedures. a very and The in our and five a are repair throughout were relevant for Germany, cases. of the Senhance Dr. presentation that result, to Diego, our system many the their presented to the highlighted his from experience American in clinical and timing and is for their belief took to sale interest minutes clearance Stephan Dietmar administrators. College He of their We and curve up for we And be site. the hospital surgeons have Surgery hands-on a company. [ph] his encourage I and to that in in our Senhance the Gynecologic place procedures we'll XX Surgeon efficiencies of in which you Of Web the stream page large the was learning of procedures. includes and of are technique Presentation collected of being was surgery. with take time interested helped booth Association foregone cholecystectomy, meetings Events is allow in perform can productive operative and of note, watch the who Senhance. it. averaging available and week, just our average attendees Dr. high. audience of Dr. many evening, last our Stephan, able General repair, XX steady Hernia in investor one those all busy of the hernia had inguinal their section On demonstrations. eight would Tuesday a experience day. The the results debut Siegen, Senhance efficiently signed This year.

featured will be be Next D.C. on AAGL's also week, the Invasive Senhance Minimally prominently. in Global will featured Robotics Washington Surgery at Gynecologic Congress

advanced is group us and advancing minimally-invasive in responsible engage surgeons to this provides. economics of GYN the introduce sets with gynecology, focused the very feature Senhance opportunity and into interested for a So, great that the

to Moving on, product I strategy. want regulatory touch development and our on

now data will Senhance the XXXX, this to Our throughout the for procedures, in our system. FDA and cholecystectomy enabled be we States done those have XXX procedures over by Among coming the strategy and be months. continues data the on In in Europe, completed including United the we to to procedures first-ever Hernia expand we've collected procedures in XX submitting indications Europe. procedures, over hundred

of rapidly-expanding appliers, to our to the indications suite leverage three instruments to In experience our in instruments. and and XXXX product to including start total instruments portfolio expect clinical additional millimeter will expanded clip weeks, XX in shipping beyond. Europe, brining coming continue we We support an

the include here also expect also in to a expansion States. energy advanced Europe of the suite of we instruments United and articulating ahead XXXX, This and launch to portfolio in instruments Looking States. the launch three both United millimeter will

last and the made to since current position turn quarterly Before I reflect our significant Q&A, to call. on we I'd have our like

With up the well FDA clearance I'd world's the And to place, balance are in in incredibly on open robotics capitalize for to largest markets. $XXX line and positioned sheet the on commercial infrastructure in opportunities hand, we that, cash million like with questions. the

Operator

first Our Glenn RBC question Novarro Instructions] Capital [Operator with Markets. from comes

is line open. Your now

Glenn Novarro

Hi, you hear okay. good afternoon guys. me Can

Todd Pope

Yes, we sure today? doing can. How are you

Glenn Novarro

first, of it book very questions book it start you once or Couple do gets the sale good. using Taiwan, in Taiwan? I'm when in it sale, it, the approved you they do

Joe Slattery

Glenn, book We'll on doing when we cleared, it's revenue Joe. that start cases regulatory they clearance. it after Hi, get clinical

Glenn Novarro

Okay.

So time the that year? would models next in should for like be into add some we XXXX, in that something

Joe Slattery

we'd revenue that Yes, recognize next expect to year.

Glenn Novarro

you say the did hear robot United you correctly, did of by year? expected end Okay. in Todd, States the And then, a I sell you to this

Todd Pope

Yes.

They've to that taken interest begin preclinical start process that labs. post to typical have several in to Europe over being watch of year. traveled And resulted kind to little to the we've able go stated, surgery, faster a As just we that's our do than high able be accounts approval.

market year's have through we it's one been by could those activities accelerated in end. would a that hospitals process, we close that the and hope So few development of resulted

Glenn Novarro

then great. to force? now two or quick going full expand to Congratulations there there. just more onboard, that sales sales is you that XXXX, continue that is the XX for number the ones, And Okay, to plans be professionals have

Todd Pope

the wanted approval. number did and Yes, folks hard we trained. in We summer we that's pretty for prepare to over worked a the field really those it, good us. for have the If

So we the so expand to about of for not a number to really XX country can with. in majority That the in that near-term. ideal largest market we the to are the that feel the go really with number cover good MSAs and out us looking that

Glenn Novarro

last to where Senhance. the Excellence my to a U.S. question, think in in in goal used get Orlando, I And of is surgeons and Center bring got Okay. you've the down them

maybe traffic that's if can of that the Thanks. the type talk the you flow So getting you're case about through and facility? qualitatively feedback Orlando

Todd Pope

Sure.

to hands lab to both dry facility. a system, both to down we here, in us a story, for in, able headquarters and and setting. We important preclinical Carolina, do in get the have hear see on it's be think Research Orlando, that in our can Florida now also to in North it, the Park, can do I Hospital's able Triangle in in come people be their it

throughout easy So hospital down they're and understanding access. platform to each surgeons fairly week two places of say with those would are that that I more. the executives both just are coming interested week the locations are that in both busy and

to off good we're start. a So

Glenn Novarro

All right, great. questions. my taking for Thanks

Todd Pope

Glenn. Thanks,

Operator

Wise And comes you. Rick from Stifel. question next Thank with our

Your line is now open.

Rick Wise

the you that And offerings thinking U.S. full-price at you've the European about? a you'll of order, and Good a normal U.S. us kind could first maybe afternoon these on Todd, optimistic European the of of have about everybody. possibility little are Congratulations kinds And to talk the you're that was it bit the Again, been price. order. one. full-priced sale? order, the levels

Todd Pope

Yes, we so in at that the Rick, that pricing referenced yes. in pricing expectations, in with over we levels those the posted order will be there line previously Europe, Europe,

Rick Wise

forward? And I as the should go line have feeling order, the don't you on U.S. but you good price know holding about think we you're

Todd Pope

pricing. in price below that Yes, like trays in procedure been instrument discussions that about our around consistent I And early that's for us pretty talking of also. conversations most the million, right been We our mean, includes coming we've get in $X.X per area.

they the try a more feel procedures to we hospitals see. happens That's times, every get done we proliferate in the mini more can As robotics. get like premium, that laparoscopic something State, the hospitals where our have day pricing, questions slight falls, for just that's quite being per-procedure with certainly we similar and pricing world. United out as and of robots that's involves frequently really all we've talked or throughout surgery most that The can that the quarter and utilization many in where are [ph] buy purchased with as reimbursement capital, day about been

the excitement and these frankly days coming more early So questions, that's of from. the are where in

Rick Wise

but Europe, outlook? approval make your at discussions I about more little reaction it's has Again, FDA a of all of or early, and right. positive All the accelerated changed in that should U.S. us optimistic know kind any

Todd Pope

Yes.

is any regulatory I comforting you largest the to approval the see beginning the the to I robotics that's that. think progress. you met going in And customers. on our do that time both those balance think certainly was positively young continue in have you where we a for have think world is I market have company continuing approval questions they two sheet just a for to frequently very important. the company FDA cash folks. is, around hand understand get, it's we're to to I call, And and now commercialize to strong the after U.S., in when technology very the addition And think today's And talking to accelerate

Rick Wise

And I I get you I to about you're obviously XXXX, so ask will. hate more I but have in success But Europe. early, visible that. It's to, question a starting clearly want to

on the what little been qualitatively XX to first-year going European six you of And have we four got months should How are or what of guys both bit. the team as U.S. you're six would XX and reps. experienced do U.S. experience talk who had you? sales you now? so whom to you expect, the and the well, expect much quarters expect your reps? manager/leader, ground Your You've for least specifically from of from will just of have that What some a your about. U.S. reps 'XX sort productivity of give about -- market of kind the coverage Talk what an separately at kind for

Todd Pope

them of And will have moving with some of significant few and alluded certainly been interest do reps potentially early we accounts. one accounts year's closing by early that some closer with to able out been there little been are be. longer little as end A bit these development a have a market some to, that interested

I are think comes EU. don't it expectations the when I in equipment to very different the capital

six folks would sale early you typical. us, cycles to for say seen significant we've I quarter to interest. if typically is I four think talk sales

could right we're that deals years, high interest Yes, finalizing it's robotics the majority would with a go the through As getting we right just but have in the to right happen abdominal numbers administrators pretty too. interested, few in really in I out those important lot getting, know, now, of many cycle? but get top folks just accelerate more be think robotic couldn't our for XXXX, of are I pleased tissue kind post we there a platform sales the Robotics early say wide interested we'll line through are super Might idea are of funnel we past the sales They're It's not classic a feedback soft so is any hospitals a as of that only matriculating funnel. a first XX now. how is approval. of training the now. hospitals. but of are lot calls But the very that that better XXXX

Rick Wise

you last before -- the last were thought me, 'XX. that expected. said congratulations All think had had the you one end public just And cash you I right. And through you I thought good cash, call the said on that's you at certainly of more from than one

should efforts beyond." you no, Now, in imagine extra you the just this "And thinking that is some the comment way. accelerate Joe, cash now? backup are commercial might we in the insurance about you're or, How adding With

Joe Slattery

more would customer the expanding opportunistic in say do these team, we've a Yes, something go is plan market. it to us whatever making be markets. with the to after Rick, that's strong I an deep circumstance, into -- if we dramatic more a unique gives ability got a and But what get whether investment to

efforts think the have So commercial see lot we we once I of traction. to opportunities a the accelerate

Rick Wise

Thank very much. you

Operator

our you. And from Raymond Thank Keusch James. Lawrence comes with next question

open. now is line Your

Unidentified Analyst

is afternoon. for John Good in Larry. This

Todd Pope

Hi are how John, doing? you

Unidentified Analyst

some talk on Congratulations just we Doing well, know start in sale in ramping I the XXX are towards U.S. give of thank procedures and in terms of in that Europe existing and Could procedures unique more you kind your being the If potential that numbers utilization. little as the of you bit well. color order a are using from with surgeons about of used? terms off could base. it, you. of maybe

Todd Pope

in year-to-date, to say done one would that that Sure, of that think XXX has math, on procedures have the out And Mark probably our And three two that is north of different system. do XXX. our that if we've Europe, three each calendarize different doing we'll finish Obviously the average, GYN, number specialties usually to depending. general can and surgeons urology. so and CE you in actively I is what imagine we surgery, thoracic, where using our facilities continue you we're we

put we procedure, to of volumes that any procedures so GYN. general we're GI procedures really majority I list And But of that a to the those upper still reflux in scope. call our and in or won't procedures U.S., through into of were get been this in bariatric kind been type So point off addition here go last covered a the XX accomplished. the some to for surgery in have surgery. of those majority GERD hoping And reeled again. covers you have In up it

So feel being confident we really are with that of performed. breadth surgeries the

specialties to in think multiple in out that's different clinical help use and have I our in accounts build up We countries, over day four going and there, data. day really

expanded indication U.S. in strategy pursue going So nice the stream as have we're going into to here clinical we a human data our XXXX.

Unidentified Analyst

next the instrumentation of most the advanced features sense it's next our on is sealing vessel that energy; of terms important kind maybe side, really in coming. ones then And catalyst helpful. really That's great. Okay, the the of

in clearance again to Europe expect then pathway regulatory for on the in would the a U.S., fourth itself expect what's And clinical that? do for you arm? Senhance data? So well the get as maybe just U.S., you also when for the as And in

Todd Pope

our that are are Europe U.S., myriad And we majority and Those to market, that the in strategy advanced include instruments, we fairly cases a and four would have energy well said filings. have and going things, an require that's a straightforward. that typically human Mark are as in in for we predicates three. where data. Yes, on expanded CE are products in will in look XXXX. arm is a XXXX different of that our And go in categorized that may we the they of give do indication I straight-forward be lots priorities at forth XXX(k) take both of look. and procedures, arms people fairly call the One set you very FDA launch through out and We're not XXXX, those utilizing our going have to Europe experience

we'll feedback today. So strategy market, we but are based XXXX in our pursue definitely feel indication where great from on we pull and the

Unidentified Analyst

seal you're you a intuitive? could as just that, with little bit maybe the of from set in that talk feature maybe follow-up how and it's differentiated vessel a then And working about to Great. terms

Todd Pope

not to now. color into of regulatory as on we'll think get start talking certainly right you going a that just give that approval. No, wise before it's we're approval. closer don't But specificity to with really I we that lot

Unidentified Analyst

then And from last enough. Okay, fair me. one

on last a registry up You also talked in call, Europe. about, setting the

if any? focus, So, and any maybe timing procedure update a on there, then

Todd Pope

have the and we'll up coming that going in months. think We Certainly.

data going procedure structure be and in we that. going We're able it's limiting Mark, to most to cast think our wide to any across CE net. set. all of to that a a usage or those place going And I for not have of specialties. particular We We're to specialty to have be fairly that going look we're take the gathering broad start at broad across the

helpful going this I that's podium well will very strategy, we think far continue the publication data that a to into year, have and it. to and it's feed strategy, us have we suited so because be

Unidentified Analyst

Great. me. That's you. Thank all from

Todd Pope

John. you, Thank

Operator

Cohen comes with Ladenburg. question our you, Jeffrey next and Thank from

now is line open. Your

Jeffrey Cohen

Todd Hi, for the Joe. taking and Thanks questions.

Todd Pope

Sure.

Joe Slattery

Jeff. Hi,

Jeffrey Cohen

second the you the of sets, as on if a kind bit Carolina. as I assembled, kind [indiscernible] builds could the some of the now handle units, about was do have, in volumes the there and and the you Italy they're what be or of wondering and well and setup in builds to What discuss be assembly, future? of some consumable can would you North capital occurring going where final little systems

Joe Slattery

Yes, Joe. Jeff, it's

the leverage initial the launch coming out continue primarily U.S., robot are the vendors. Italy. the For parts instruments supply -- Europe. of to in Most variety network the from we'll of with in existing them The of most a come robots of

Italy the of over we types remanufacturing get initial time the the And assembly. years. late-stage couple Over so we'll But delivery to in that sites. volume on product do launch that that or a handle into do all here deliver we'll here need what partner in customer can next the the for U.S. we evaluate we of have very strong

that with So the have. chain supply comfortable we we're

Jeffrey Cohen

little give next basis, Okay, and they'd I'm them on this a fiscal hospital does actual would you additional got not of decision-making tells of a the fair talk 'XX a and mean be there the in a we quarter's it. you should that when gets How of money may in that allocated that may correlated the how the but and exactly and about about budgets. Could 'XX? month month that that or same a we hit with And amount into revenues? someone us some press are see these deals color first think [ph] could little on you bit? purchase unit, release capital U.S. be 'XX their like assuming thing

Todd Pope

excited hospitals to already and been hospitals able talk approval. cycles, ours times there not. other Typically, fiscal about that very say prior they certainly not the them follow go calendar I'll and sometimes well thinking to out been or interest pre-promote just like year, a they've We've Yes, about then high, system it. is the when get to

Europe So at experience. to been clinical now and features interest People to all talk about that talk We've we're and their about major the high just going out shows them been there data their able from hear benefits. to and have level. surgeons able engaging

to the something that So, a And or whether has coming it, fiscal they to have thinking actually be number often longer. for budge on put decision have that you're then months after might else, them going a hospitals depending budget. budget people capital about that don't when up or have be make when allocation but cycle. been to the that, acquire a coming with want next And sometimes it's Senhance is to they be times aside that talking their robotics that in next quarter might fiscal it till in we're they to deal wait put

I say, deals you've Jeff, all one is So I to would of great robotics grow clip. think these seen if you've at But are one. unique. reiterate the They continues a would I thing fairly seen

market think you keep the happen here excited I having in shape choice the to pipeline posted our starts is we'll as U.S. concurrent and up of calls in think how about U.S., here I the

Jeffrey Cohen

but the number? possible or Got numbers, it. guess I may have backlog may some also be U.S. sale carrying it's you you some sales But for a

Todd Pope

developing calls But more XXXX sit pipelines, down -- and them right can our in quickly this of we'll as front is now that. we be will discuss demand Well getting how or -- the you front we in then folks and we'll efficiently And as But folks making that our on give as we're front through color have, if on not. sure get on focusing and just of system depending getting we that may go out quickly be. pipeline can. matures in of

Jeffrey Cohen

Great. Thanks much. very

Todd Pope

Thank you.

Operator

Novarro, our RBC Thank question next is you. a follow-up Glenn And from Markets. Capital

now open is line Your

Glenn Novarro

approvals you year. for Todd, expect would and year. these do new a for next say the hernia indications when follow-up FDA Great, you cases on just United of hi, States? you thanks think I us the the approval question. you And then in chole, Thanks. if number for taking the done so, can did had next remind

Todd Pope

Sure.

filing would say months. through mid-April we comparison, so both in We expect, are I of hernia cholecystectomy planning our mid-October, months. the six was and on process just Senhance by as And coming would date way

for expansion indications. little line a or So we shorter to that be expect would in potentially than it

those procedures far those as of of done. number As are two the procedures, larger

over the you hernia our combine indication colorectal two And was at and remind and I'll million right X.X million up you for initial procedures them and know, gallbladder, States. together; GYN. You United in you're that

of be in spot wide differentiated and to procedures robotic we in robots, the that features using are the some per-procedure number like some Senhance. going we're 'XX could really these going great actually a to a rationalize that they gives that them So economics of fell system sweet in be interested

very it. we're us. have beneficial think So excited those, for to are those going purposefully and chosen be about We we

Glenn Novarro

great. taking for questions. Okay, Thanks my

Todd Pope

you. Thank

Operator

with Thank And is from Stifel. question next a follow-up Wise you. our Rick

Your line open. now is

Rick Wise

Hi, Todd, just just a couple the of everything. follow-ups follow-up question about Glenn's to and here, data on

for cases said hernia chole. that pull that a how think that want to you it nuance? each is Is lot, to time about long I take together? or hundred they And just data, a we and FDA going you a think will U.S. accept think do European

Todd Pope

a our we're that we don't on think got a with hernia, FDA I first hundred data, the we in European on certainly typically individual. combined what problem that's And XX. October submission chole approval any Yes, not and data, accepting turned has to clarify,

good systems So multiple really surgery feel good day placed we doing feel countries in across we multiple got specialties. every we've that about just --

we data into our it from, experience XXXX go real gather strategy. continue gives to us expanded on I and rich a indication think and clinical that can pull

Rick Wise

you share way And any post the could that feeling ACS would American give Todd, you the early a you the obviously mean, there But could metric, with some some response. of Surgeons, point the indicator for to for reaction demo could say or there post us, seeing our meeting, quantify you I'm it and pipeline anything post -- could post-ACS of meeting are that College is us any metric is kind about schedule qualitatively. us interests

Todd Pope

Yes, certainly. summer throughout we've for headed interest sure. would there's in I a of lot as Senhance that say been the

tell going and Surgery, were a meeting. a and at a themselves. has it or on day But able a we dry about, taste wanted approval that -- and lab. the able College and cautiously investigate half of it really not to it of to came down a Rick, over I'll be I of actually the you, but out exponential level There's I in the the get little to Post was to a such actually lab, somewhere it you and American of see bit until still of to know College wet some there, commitment As I see on and people everyone and mid-October, that. plane get go got it be Surgery, for to go system. Europe in that a in to was approval, talked to think an think able increase actually of folks made see optimistic. day large spend to sit American Glenn you the

in meeting East Park, D.C. the that that the And AAGL to those certainly from pretty even we here Orlando, just our we're is States have meeting at that some a think of daily week. headquarters, going facilities RTP. United on parts would I Triangle be we people capability though that say their And down at from centers down and Florida I Washington drive So keeping us to trip Research get to the extend here already I very that are from wanted getting Hospital doing of fortunate a different are have in headquarters That the to Coast we in since at have much ACS. request busy, here. our and see are It's next think

that say would I pipeline robust albeit So, early. very a

Rick Wise

Todd. so much, Thanks

Todd Pope

Thank you.

Operator

now the question-and-answer our and back to call Pope Ladies concludes I turn that session any today. for gentlemen, Mr. will remarks. for

Todd Pope

you evening. forward joining next again We to for you And want updating you much, to quarterly us in of thank Operator. Thank today. look call. our very all Good I

Operator

does in participating today's for have and disconnect. day. you thank may a today's program, gentlemen, and conference. you Ladies Everyone wonderful This conclude

Asensus Surgical (TRXDW) 9 Nov 172017 Q3 Earnings call transcript