Izzy McMahon

Izzy McMahon asked about the proportion of purchased Symvess units that have been used versus initial stocking orders. She also inquired about the benefits observed from the Symvess price reduction, specifically if it accelerated adoption or decreased VAC approval times. Additionally, she asked CFO Dale Sander about the comfort level with the previously announced $50 million cost savings initiatives for 2025 and 2026.

Answer

President and CEO Laura Niklason explained that initial stocking orders typically range from one to three units, with most hospitals reordering when their par levels are met. She confirmed that the price reduction has accelerated both VAC submissions and approval times due to market price sensitivity. CFO Dale Sander affirmed comfort with the $50 million cost savings target, noting that operating expenses had already decreased by approximately $5 million quarter-over-quarter, primarily from R&D reductions.

Izzy McMahon inquired about the proportion of purchased Symvess units that have been used versus initial stocking orders, the benefits observed from the Symvess price reduction, and management's comfort level with the $50 million cost savings initiatives.

Answer

CEO Laura Niklason explained that initial stocking orders typically range from one to three units, with reorders occurring when hospitals reach their par level. She confirmed that the price reduction has accelerated the VAC process and reopened discussions with previously hesitant hospitals. CFO Dale Sander affirmed that the company is realizing the targeted cost savings, noting a $5 million reduction in R&D expenses quarter-over-quarter and expecting to achieve the full $50 million target.