and Thank everyone. you, good Gerard, morning
and complete severe their injuries clinical employees go our thoughts of and First and treatment patients affected to COVID-XX that by our to to our for knee COVID-XX the customers and to dedication foremost, our patients. with to support. products have thank also we’re burn workers of all and like the and care our case commitment access out in efforts country the cartilage ensuring critical in those across crisis We’d healthcare thankful especially for their
quarter a momentum measures. a XXXX entered strong of number and financial first a great with We operational and across of had deal very
in increased record as for on to that Total on been remained volume the in rate scheduled exceed has $XX.X was product XXXX restrictions Despite revenues X% growth to by the quarter. first with our of quarter than was revenue restrictions the revenue cancellations put first that surgeries Implant the and quarter quarter, of revenue MACI XXXX. mid-March, grew were the business on XX% surgery in the to twelve our in strong more been first net track growth MACI growth business due initial revenues very fourth of XX% reported the by strong. quarters that cases of elective MACI reduced quarter, mid-March, to elective had marking impacted compared fact place quarter fundamentals our While our the million for MACI straight Based still guidance. line
quarter of quarter another XX% Epicel also XXXX. compared with delivered had to growth strong of the revenue first
current gross cash a and As we’ve quarter number implemented delivered significant we that operating when the Gerard will In near situation. emerge to in detail also long-term with ensure we that expansion strong in response positive and a another of the growth maintain to flow. and moment, cover a position our more opportunities we’re margin we in COVID-XX from crisis, measures
operations. all to interruptions chain Epicel any materials. impact continue stock safety and at company’s We will And maintain MACI the time, that supply no of key manufacture ongoing significant indication a there’s to this manufacturing raw
non-essential handful We’ve maintain representatives, also suspend operational that we purchases, updated These our expense and tact outside maintain to have differ implemented operating hiring XXXX MACI additional reductions readiness us workforce for keep anticipated allowed significantly flexibility if recovery capital materials of operating talented expenses in the surgeries. ensure for actions elective and our remaining to in necessary. projects plan measures our to and reduce of
announced continued Xnd, of company the withdrawn impact COVID-XX crisis, its April As due previously reported to has resulting the financial the on uncertainties the previously from guidance. XXXX
on surgical perspective recently current on some of elective like second our plans restrictions states the announced several of I’d have lift in to the procedures. fact to view share light that quarter However,
could view or plans, on this our this recommendations is view current course, doesn’t if surgeries situation evolves. Surgeon procedures April and the states predicated Based American XX Of suspending States on as change based that on according elective other College opening Xrd. developments up the occur orders General, fluid of or our guidelines and United elective the Surgeons of States issued by surgical to
in elective about of in only the April. XX% surgeries MACI States that population resides estimate allowed for U.S. indicated We use that
for of recently encouraged to surgeries many number to we that use plans We’re And be X. May to today, population planning in reside over resume indicated XX% MACI in that have States by elective and surgeries. expect the XX% announced States are June of approximately that elective as allow
many QX XXXX as a that recovery for trends. these influence While recovery will surgeries, other there the track using the are other factors elective that we and MACI for ultimate believe roughly MACI base
precise procedures the expect although of and be by recovery third in remains will We quarter, early all the the surgical that allowing uncertain. timing curve shape elective States
clinical of the ability announced are Ultimately, increase evidenced weeks strong when the of facilities states at policies state of resume the to surgeries that lift elective any procedures resume surgery recovery and a after to coming of MACI In saw local over event, the on individual restrictions. depend government MACI patients there and over plans the willingness will months, and how elective a which in as to pace setting. ability factors couple to position past we elective evolve return resume readiness orders the surgeries as believe we elective that for number and an
Historically, an are procedures time hospital outpatient MACI can ambulatory in in XX% the have less the of either ASC. care, performed involved have outpatient procedures an surgery COVID-XX patients. roughly between because basis center surgery treatment ASCs been center, MACI or of split AFCs or site performed hospitals be and over of generally and on been with Starting equally
that to procedures. We they’re positioned expect quickly elective resume more
the uniform the is channels. two XX:XX maintained June May date mix have indicating point recovery this and at historical To across cases relatively that in the scheduled
clinical to ASC case the the certain March. to extent moved for ASCs of a open large pain will patients that a MACI severely These up perspective, handful heal the degree was MACI knee in impacts not of present areas, defects patients with have of to be that as with From cartilage a their time. can activities that life. MACI hospitals symptomatic limits passage that quality typical procedures focal greater However, their in and an
patients of that returned number injuries. of that impact a for their a are factors there ultimately treatment the patients seek setting, percentage the to we cartilage at will clinical pace While which large believe will these
about of patients are individuals, these The possess to may medical less median XXXX XX who concern active otherwise age seeking healthy demographics are the and with risk generally older MACI from care. and associated patients and in each elective that is cause keep COVID-XX in likely factors
As And a a authorization. reminder, on past for the is over case a MACI world-class building prior reason, a we’ve reimbursed few management focused under benefit that that medical requires years team.
surgeries, engaged and team patients, moving During remained of The with and encouraging. payers. offices process through the our actively case management restricted this approval physician period is elective volume scheduling has of of cases
pipeline be reopened ready of practices. a rich to surgeons have as scheduled We cases their
hospitals, procedure elective MACI surgeries are AFCs From on orthopedic hospitals to to revenue utilization well operating intend availability it profile lost critical a increase intend and environment, in and should are of in volumes surgeries positioned and is room favorable for limit expand to a has and MACI. capacity reimbursement this practices make of reimbursement a lifted, concerns surgeons that and most standpoint, elective for that revenue. We and AFCs believe when surgical orthopedic up practices. that surgeons source facilities, restrictions not
reported COVID-XX force filling quarter evidence although remaining with slowdown before As and we’re complete on expansion the a designed MACI few earnings call we resumption a elective positions our we in February, of was the the fourth for at pace of largely to to see coincide surgeries. began sales
representatives sales planning, not and customers. our have engaged they period, training but this business only our comprehensive completed with remain During
those continued virtual representatives connecting with Our that field-based through patients content. government have digital support rules. impactful calls as representatives Many are supporting and applicable and facility surgeons case surgeons provide telemedicine orthopedic in sales needed via MACI are our with to include compliance
our limited cases patients with offices team, or Additionally, and reschedule has existing to productive Despite this our with full a resume surgeon which continues are to activities positioned of move time reschedule pipeline well face and they’re and management to when been face a normal the interactions, representatives for reps cases. case to coordinating to allow. through prepare to our set sales work conditions
severe COVID-XX the monthly given less Epicel of modestly nature were injuries, critical our should typical lower While April burn than range. orders impacted directly by be
in While various large shelter-in-place this with from trauma month fluctuations month. to a in admissions is restrictions, we see often reduction to orders nationwide graph volume consistent in due
given not typical patients Epicel in biopsy short-term change seen of as small the not often Epicel number are quarter. since have any informative know, a in trends we We material volume mid-March, very treated
Epicel. biopsy that bodes from note we’ve continued also typical for burn not several for activity where remained impact range, we received is the also long-term have as believe biopsies the centers, had which recently starting force the Epicel expanded I’d to sales growth that we have no years, only well within an levels for
the the first to date related this in but But delivery stockpile there’s confirmed remains not at assumption priorities the delivery shifting emergency XXXX. if not potential occur no for BARDA for in NexoBrid, to we’re to finalized that will to plan under all operating the pandemic, the due occur a has NexoBrid, and Turning XXXX. yet majority, deliveries time
approval to target standard a would expect review the FDA assuming one cycle, We and mid-XXXX submission year later. we continue a BLA to in
patients the addressable these believe U.S. patients addressable represents it $XXX in each a to triple require hospitalized most bring roughly very Approximately care expand opportunity NexoBrid burn year our annual are XX,XXX would burn of current level NexoBrid and will significantly which U.S. that excited We opportunity, to the care size some we burn our of the We’re believe market million for of market. debridement. the as market. that
additional the turn response detail our on results over position financial our Gerard on COVID-XX to now financial quarter call and I’ll details overall and provide to first plan. more
