Quotient (QTNTQ) 1 Jun 212021 Q4 Earnings call transcript

Greetings. Welcome to Quotient Limited Fourth Quarter and Fiscal Year 2021 Financial Results Conference Call. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to Peter Buhler, Chief Financial Officer. Thank you.

begin. may You

Good conference Cherry. year and to welcome March Thank for morning, our earnings call XXXX. fiscal fourth Quotient’s XX, you, everyone quarter ended and

of O. Joining www.quotientbd.com. is an today call audio replay being Mendez, will Quotient. the through Today’s and the Chief broadcast me live conference Manuel at Executive of today webcast be is call later Officer conference available

development Quotient may operating events, guidance call, this expected commercialization and results will future in as to actual from forward-looking such including During Because projected be statements projections future and forward-looking statements differ and timelines. with statements. the those making deal materially results

valid in concerning and those The the U.S. Quotient’s differ Chief publicly guidance Additional forward-looking that to as call Manuel. actual provided cause Securities materially of I would Quotient’s and factors Exchange in results call are as release. this statements from turn to forward-looking morning’s obligation Commission in Officer, as no this to like found filings information the date the and well forward-looking with over could during update With assumes be that, to including only statements, today’s can Executive statements. projections these Quotient

Thanks, call Quotient my XX good everyone. days first Peter and since This is ago. morning, earnings I joined

external to of in-person industries. life couple understanding by many perspectives months, internal clear for both keeping Switzerland, diagnostics company past in virtually informed and with develop future. believe U.S. and the and associates three by I I to coming of providing internal in These the and investors, with following the Over have been on years time enabled progress science you customers, meeting overview of I our Europe me the and over would we short an you look the are been have on like the to I reflect here, years. I months on the topics. begin the updated forward I the well-positioned When

First, inform each commercial progress readiness where serology and will made the on our MosaiQ of modalities, I the immunohematology, of have molecular. you transfusion solution development we and

provide the full performance Next, you position. on I update. with update company’s will I Alba and by will financial year provide And an QX an you lastly, Quotient

progress tech Scientific. Regarding and solution recently, to in overall he join X brings at BRAHMS strengthen R&D, of procalcitonin Architect the served over have vitro diagnostics. Thermo U.S. company’s Hausmann. to portfolio Chief industry. Infectious Michael expanded Director led XX Technology of in fiscal and a Thermo Senior VIDAS Prior And in years the developed Scientific, at to of Abbott, division development Michael leadership And diagnostics we our to as the and Michael assays. most as Officer team, Clinical a adoption bioMérieux QX Global Disease development at Dr. team strategy, in and for screening this year. and VIDAS Most Fisher, Michael experience of the further while Michael the new MosaiQ Thermo transfer the China Fisher develop an Michael the R&D, ex-U.S. MosaiQ added blood Diagnostics Quotient member Fisher will at recently,

impact. extremely We going to instrument other is as a he his Michael’s and across functional benefit know assay excited experience, I areas I and in and will development manufacturing. from such joining am make specifically big with

eagerly commercial awaiting of last visit our and the the I U.S. in opportunity customers to innovative system. are future hear an the was and I have to had launch our MosaiQ weeks, customers During our few Europe encouraged

customers need. the I $X.X One lab help forward billion industry in our the solution shortages sure, staffing the staffing and for near is complexity, can improve of customers address workflow our today. customers to our will gain facing MosaiQ multimodal, the shortages, in shared, our with and our MosaiQ confident solve collaborating am solution multiplexing budget market constraints, We in the supply diagnostics to the of look transfusion that safety future. blood share the help

and accuracy. will exciting. a field like Very process, trials menu confirmed on the shortly transfusion are in field enter in share Mark phenotyping With We have XXX% or manufacturing our new the would made we and ABO, our accuracy. financial capital have system in the we extended immunohematology most markets. human key we of further hires XX% we expanded continued complete to improved which modalities and performance levels tests you’ve made to as published. now thereafter. above Next, than the levels progress seen the previously trials raise, with met commence our resources three Also, release, from expanded alternate Kell U.S. CE have product. On month. Rh commercialization press this and ready the need of immunohematology, the The have we recent to resulted diagnostic I previous IH, improvements have to were performance in

serological of for the SDS expected antibodies markets disease performance performance panels, continued individual the brought detection the development of the our for expanded Regarding the level. has the screening the menu to

I the most of regarding the the at integration will steps provide the this call. development for antibodies the on finalized of and those on of are markets working have next more the antigens We and end microarray. information

successful MDS at which second screening, Moving limit previously, we to Roche hepatitis HIV-X, commercial targeted our a against of of our updates and disease menu, product confirmed challenging part share will us we performance the testing to on assays in development levels testing similar this we I as completed detection and the aimed has the molecular now the on C well. assay provided the MosaiQ extend presentation. news on against concordance This assay the phase device ability of for Cobas. full have or gives the MDS have MDS, to On confidence this great B, predicate of hepatitis sensitivity the readiness,

and commercialization solution. generate our MosaiQ serve partnerships. third-party anticipate FY data success, tender The us gives and of ‘XX. FY customer potential customers from MosaiQ narrative. Currently, towards demo we to the commitment progress placements our received and tenders make chances supporting to the XX ‘XX to to We continue also ability in have We evaluate scientific but strengthen XX

commercial have potential team global geographies, new expansion as others. Czech various our additional and distribution Also, Italy Poland, managers Slovakia, evaluated MosaiQ identified Benelux, coverage have we hired and partners. support in Additionally, for market opportunities account among to key such Republic,

with expand MosaiQ will customers, solution. team process to efficiency we create implement Lastly, as to the laboratory they partner value and workflow our consultants

year, a by standing X.X% Moving had OEM on to Alba from small is Quotient steady with XX% of last some fueled year-on-year. number growth of by We and additional Peter sales will XXXX full business our mainly grew by good XX.X% OEM business customer largest direct growth year data. fourth update. a The of be based Alba quarter, X.X% Alba on over by X.X% Quotient year-on-year. a growth partners. sharing of mostly business, reagent orders, Quotient sales the with of

has team for various identified partners our have and expansion market and potential distribution growth. geographies evaluated Alba opportunities to new global the Lastly, fuel

Regarding the of $XX our reopener week, a notes amount includes financial will a financials $XX convertible current point, amount placement million. you announced private a for of of brief a summary give total for at of we total position. agreement Last additional I The million. the also last

an We this and this from Securing balance terms longstanding of of of additional financial additional for time opportunity are funds. in business. very stakeholder a excited strengthens our sheet investors some this with the like closing Quotient’s at other financing existing – prospect hybrids pivotal

commercial diagnostic know which multimodal, meaningfully multiplexing Importantly, your accelerate some possibilities will strategic in vision MosaiQ debt, is of In solution opportunities. I developing X to the assess funds to a senior next or our minds. refinance existing transfusion our months, and to market expansion restructure the advance allows our for the us secured we our of

we initial investments more XX% returned chain these We in company, have incur $XX.X our was Credit potential which reimburse investments. outstanding. to million Regarding funds, supply believe any Suisse Credit a should on remaining our than may the investment of Suisse loss and to-date,

has Suisse yet Credit not committed. far, So

for will financial back We months With the in will I Peter? update. this coming monitor this, it to the turn Peter ahead.

was Fiscal was tests. XX.X% and and fourth of last Depreciation XX% increased of over represents continued as OEM prior better product is loss from expense, fully the The the with up due is quarter, last sales million the represents $XXX,XXX. to was Alba $X.X on to located menu year. increase mix. by COO G&A million, of donor the loss of expense sales Manuel. expense compared compared MosaiQ sales expense million $X.X million and $XX.X of operating X% customers year. of compared limited and now increased group, of departure $X.X asset attributable million a of $X.X margin improvement an $XXX,XXX the and the were from increase million XX% an which fourth by in $X.X gross fourth from continues quarter the year. of $X.X scaling sales to XX.X% compared launch increased Also associated our an fourth year’s Suisse million, of $X sales. quarter of of of last sales our foreign slightly of the an an driven quarter, cost XX% expense the to to depreciation manufacturing Research management due million $XX consisted fourth project. quarter, increase ordinary material million compared expense $X.X Sales $XX.X by and million, the and quarter. States million assets The share quarter, ordinary were depreciated. was with fourth in of is expense was additional product change other in expense to OEM amortization fourth year’s decreased grew that insurance royalty Direct prior product million Overall, foreign million $X.X increased This an increase fiscal $X.X quarter. reassessment year-over-year the funds lower XX.X% sales. $X $XX are $XX.X of in be per interest In $X.XX of million, United were increase due sales the million exchange operating labs. was In loss million and driven our amortization to $X.XX In we investment million million for product $X.X commercial increased primarily year-over-year expenses impairment from recorded and $X.X $X.X and and last cost and General Net compensation the antibody in $XX.X to increased net year. other ‘XX pricing included staff year. interest prior prior to of increase all of $XXX,XXX Direct quarter, the per in reflecting In COVID-XX Quotient related liability. distributor on revenues view to CEO sales XX.X% as in million, in administrative cost. In fiscal year-over-year. sites quarter expense The mainly existing loss in development accumulated ‘XX. increased exchange fourth the $XXX,XXX $X.X the the quarter, first compared year’s better versus million, customers. Credit year. or with increase of commercial to Swiss gain $XX.X stock to sales and Interest the million and the share million and marketing product with prior year-over-year, for MosaiQ $X.X Net in you, million our cost or an Thank well were increase in the in sales

In fiscal the sales other revenues also For of an the year, the primarily $XX.X year reached of prior year, revenues related over other XX.X% fiscal non-reimbursable received also were Total million, prior year. upon letter upfront of agreement. the $X.X payments milestone includes That from million. million. for signing revenue $X.X increase product to the

fiscal For XX.X% slightly gross the XXXX XXXX. sales XX.X% from year, and to fiscal improved margin product in in

is G&A increase costs increased expense general million This is higher to expenses. in due by $XXX.X increase related administrative the by insurance the $XX.X to year, legal For to million. and CEO, operating full higher driven The primarily change the to Ortho cost. the arbitration related and in expense

million. Sales costs Our million R&D costs remained $XX.X marketing increased stable at prior and $XXX,XXX reached versus and year. $X.X year-on-year

Credit In $X.X Suisse other operating included compares exchange expense, in gain XXXX. million and of $XX.X million year million to $X.X per expense exchange. This million of Our year, and our compares in of $XXX.X operating on expense net $X.XX compared of expense with quarter year. $X.XX $X.X by XXXX. on net $XX.X million of with foreign with a in a for share a foreign $XX used of net the compared gain $XX.X cash the investment million fiscal Asset of million which was other $XX.X last of in our expense totaled or interest Net loss in loss expense – on ordinary year loss was X.X million included million consisted the million share prior per non-cash offset $XX.X million impairment million or XXXX $XX.X XXXX to $XX.X Management million interest million fourth non-cash funds, $XX.X the loss, fiscal which in in compared $XXX.X XXXX. fiscal of expense operating fiscal fiscal fourth million fiscal quarter. activities Net $XX.X Overall, other

of to higher expenses. $XX.X additional Capital use last cash mainly full milestones, in $XXX,XXX year, used the increased The the compared offset to net in of reached year. in is compared fourth For the operating due by million decrease XXXX and prior million of margin, year. activities revenues $XX.X gross the fiscal operating Quotient by with expenditures quarter Alba partially was cash $XXX,XXX

full XXXX. fiscal in the with year, $X.X CapEx $X.X For million million totaled compared

mainly manufacturing expenditures of capital include equipment. and MosaiQ IT instruments Our the and purchase

sheet. XX, X to the year and cash compared balance million equivalents cash were million short-term March at $XXX Moving and Available to ago. investments $XXX XXXX,

cash held our related reserve million addition, restricted loan. In senior $X secured we to

$XX.X we million. year total Credit million. supply these we XXXX. is uncertain but amount In Our XXXX, announced a XX, of charge able million payout short-term be impairment further And March will $XX.X to investments $XX.X one investments still and of valuation outstanding two include taken believe suspended subject funds we as remaining payout today, clear, chain of investment XXXX, XXXX, and in April the to Credit invested And and significant $X.X further was redemption, million. March into – XXXX. Timing Suisse the of at XX, an value fiscal have received on At two funds. uncertainties. the funds are liquidation of recover March not of we funds within Suisse

fiscal our start refinancing week, cash further to notes. $XX will April of last of we convertible end secured in the as The convertible the strengthens senior the Quotient’s coming continue notes – allow question announced outstanding reimbursement was flexibility terms cash debt million, advance existing year, restructuring As MosaiQ senior we this due reimbursement At the total us we $XX in May additional the these private in This development with position, and and raised $XXX commercialization. and debt through or debt the placement facility, address October full XXXX, on of months. million of XXXX. million the pipeline a in paid further

as of an our Alba totaled Inventories inventories, MosaiQ balance Quotient foreseeable related requirements was $X.X higher With the $XX This our rate-related not on do cash inventory the additional exchange inventories. by additional sheet, million to added by liquidity we and cash $X.X anticipate addressed totaled in million. we increase and the Accounts receivable million to any question constraints potential year-over-year. increased future. increase

guidance. Moving to the

full fiscal $XX Quotient sales the in product capital expected. XXXX, For of range year to are we revenue and million. by $XX.X $X reagents of $XX.X no milestones to of million the forecasting in forecast expenditures million our related to range other million revenues We are for Alba

$X.X back we now that, trials, provided we of expect MosaiQ. per Manuel. the and our from operations not turn guidance million No cash With of MosaiQ on field derived the million expect in approximately to let $X revenues operating acceleration call me is major to With do loss, used month.

Peter. you, Thank

would topic same plans mentioned three I three next to quarters like now, for earlier. the the I share areas in forward first upcoming Looking

IH the the of June. Instruments these they installed. trial thereafter, the my marking And that. before. microarray been CE expanded as Firstly, already shortly just on corner accounts, commence field will around start in confirmed with some will field have travels U.S. visits during have Qualification really class mentioned conducted. recent interest been I

submit European expect in we participate to around on be approval, agencies are regulatory will to to tenders. the CE track Upon we to marking and qualified So obtain year-end.

we and XX I As stated, in become previously tenders available ‘XX ‘XX. to expect around

working Additionally, development of is and deliverable patient in the the microarray, we been the leverage from with a partnership Diagnostics on key development transfusion learning in our This our expanded patient have will Ortho microarray. which our market. Clinical

stages the on antibody on Regarding the to for the development serological realization final disease detections specificity the lines. confident through analytical screening, met the the continue we the achieve stated with of and are required disease we SDS make antigen the time antibody integration. the progressing our targets. and data seven Performance expanded eight progress The within to in of based and targets to of solution. sensitivity And activities date de-risking place, has targets of are

sites have and the currently for and on the being by the trials the identified to the All for in U.S. the trials, process we required begin are parallel clinical Additionally, field is IRBs. of field year-end. finalization Europe target activities in reviewed by protocol

known deprioritized Lastly, performance microarray, U.S. our in to although expanded have our teams SDS the focus of in disease clinical terms resubmission U.S. improving initial product on SDS for on and the specific the states. the concentrations made various to IH great we XXX(k) improvements

to clinical We trials additional expect and to by the need field FDA submit run year-end. will to

the commercialize As a the expanded SDS IH microarray after U.S. approval. reminder, the we microarray initial we will in FDA received

SDS our So track. launch for initial the and immunohematology launch commercial is on

full screening, MDS is microarray, the disease molecular menu. continuing development or MDS, the with Regarding

Cobas, is of This weeks. this the updating On to evaluations the HCV on demo Nile tender pairs will performance phase. for look data we West reagent have Performance really terms to great detection we and HIVX, team And As forward customer HEV I on completing you menu. commercial earlier, we identified stated the in will for the equivalency the experience. coming the focus readiness, and be have target and to support virus. feasibility in HBV Roche targets the HIVX, from on

both and created our decision-making. external experts. knowledge Additionally, drive product allow been Advisory Transfusion and teams and draw to These have our a Advisory to utilizing from skills types partnerships IVD newly Board Board on positioning the commercial partnership will us and of

has begin into Our products will team Using are opportunities. action of customer new assessment the coming and in Quotient the conducted that information, Alba looking team months. plan an by implementing incremental

which extend for to first data additional XXXX, certified May process the of includes be as under well products IVDR started business the by generation other the as the of that the certificate to The IBDD batch XXXX. renewals must

We expect in June notified body to submit XXXX. to the of

Quotient be ready will to So from to IVDR. transition IVDD

this Lastly, would like freedom excited very on the for time. over our and value shareholders am on I’m I I to points. with flexibility, partnering with our financial forward to plans financial provides customers. reiterate to part generate our and current of deliver which to with our Quotient look be To proud extremely team substantial position, Peter’s us close, our

Now like Cherry hand I open Cherry? to to the would Q&A to it session. over

[Operator Ji Sung question is Instructions] with first Please Our Nam from BTIG. Thank proceed. you.

submission for line the with you have delayed still submission kicking for And by bit. the of time expanded sounds that of new this CE this year be able a with also, the might just been to line? the was be curious, at time FDA off mark little about kind IH And what that make array, curious was point. it trials the taking question. the the field Thanks Europe – the Hi. end Maybe the like would in bit little

Thank question, Sung you Ji. Yes. the for

is there clinicals. start the delays on So of no the

marking. for to in always start have planned June We CE the them

track. that’s So on

and in the some so, to clinical of of or then any of the agency don’t delays And CE the approval. marking the obtention submission terms completion trials, we body anticipate

get do no year-end, previously. August to the on the then And with the by is from then So That clinical remain exchange we as trials, start submit FDA they proper has there. agency, changes been expect the to track necessary And the with as obtain there, U.S. far approval. anticipated there the in timeframe. – to and

from from Thank risks And the pandemic? your as terms ago given about you’re kind baking you worldwide. you. Obviously, targets with there a Thank was associated in some I the quarters just then of is for environment of pandemic delays could it. far what potential few the just as that. of in currently And you kind curious talk

going far obviously, – anticipate curious you’re a in you laboratories, opening but etcetera, U.S. Europe the kind relation I If up as in versus on to of pandemic? of progress, making lot the what’s as the of was

Yes. the question. Thank you for

that So and there up. a you in regarding we have, particularly the governments – as see R&D here, presence great countries are are Switzerland, pandemic, I know, where think here. The good opening we is big different openings and news

of are really So people steps. has a taken many government lot being The vaccinated.

then people We’re now also of has flexibility. the our for home. a from helps government starting have to which efforts teams, doing don’t to yesterday, vaccination said have us Actually, work lot that

Before, home previously, to were required from for most the they work part.

lifted, So lot a the bring have – the which that that necessary that safe gives of been then here. making there environment environment teams sure us sure as as the working making – has flexibility we can we of well one, is site in that, terms on a in to

fully we’re taking able necessary the to then engagement So bring back to and that. across people measures the continue be all

that’s Switzerland. So specifically to

forth. the gone created the by from recent countries. UK variants, where some back in I seen, some different with in has they There and the been going have some – to challenges you’ve that – amber is has back As red countries, think

again, that any don’t And which so that the COVID anticipate, situation clinical different to limitations our part, anticipate be we’re managing countries we able to through on put most in near the But do in that will future. We for the are process. pandemic trials proceed.

if want add know overall So us. I anything? I you to think all for that’s Peter, of don’t news good

No.

you like people progressively said, site. we bring now able on back be will think to I

yes. Yes,

Okay, great. Thank you.

you of about And addressable plasma developing for just Great. of that potential the what segment? products very diagnostics me, for kind the there is. lastly market, Fantastic. And much. curious in progress making terms Thank market any then you’re

Yes.

for you question. Thank great a asking. that’s – So

have as – very opportunity that we we since and market identified So that exploring short-term you that we’re partners, collaborate the the opportunity. an very a I’ve definitely been here that to Peter, things number. different I’ve have – in with of is plasma one size

it’s think almost… I like

– $X it’s market. And total U.S. $XXX million roughly About X million. primarily market actually, We – size, centric.

centric. U.S. Yes,

be these. will some we So exploring of

can the trial One we’re leverage of sites plasma clinical see. using introduction of some evaluating is, accelerate things something internally that and teams we’re the we that the a we doing that So to in setting? that’s are to discussed the

it therefore, quicker then, of approvals, also plus, some leverage in these to get on allows have infrastructure the being able So trials. us sites to that our those we’re to cost going decrease to clinical do

it’s I a area opportunities and So think everybody to we target in well. try win-win and this for as as go

Fantastic. much. Thank you so

you. Thank

from is question with Please Company. next Jennings Cowen proceed. and Our Josh

Hi. you us and on I V&V the internal Peter, on remind like tests the the Can just IHX went A congratulations Thanks Dr. antigen optimization formal team. test to mean, bringing follow-up progress, the and well. – Manuel it some Hausmann didn’t results. sounds guys of you on progress question the release of

You metrics is, seem there made they antigens field is gave But new going that gist before very Manuel, V&V successful. question my and testing public were any to some be of the to the trials? be added? on And the call,

Yes.

in have what’s with So the I on to we the very included been think been point, menu. look, menu, your progress the pleased

haven’t this We data. shared

you while in we point, future. be testing to this share will planning looking gearing the some up data to once sites, this then clinical able are then and the successful information certainly, information of sharing to we this again, be results, we on trial I with has you mentioned. will in compare market, I the clinical as At – extended, but not address at we future. some with the the add? are yet. internally. solution. a want what different know on we to And tell really, the conversation really pleased trials our the then makes the release We a if excited incremental But as we forward with the very start trials, can of I in positioning outcome looking The But in any really is, are the clinical in against great only But us, other to are the menu, customers which Peter, prospect basic of is team again, we the anything not key job which done the don’t providers

No.

And were we And think the are was going XX%. we below I I we the counts trials. think, successful improve what at as field our field – I Manuel think mean I into from on said, that. that now focus that’s to the trials. tests were the really And end

get Thanks. U.S. those IHX, sites many running trial then remind make field how front you results it the to And you can for share just and take Excellent. be do tests? And on expect long trial just run public? and results will us, the how field and to those

Yes.

So the – normally, we have selected X sites.

we the have clinical plasma, may part As I we fourth to want weeks that – of a Normally, it it. would just because be question, trials. we mentioned add complete site X to on a previous on may about as

actually and a manual But it intervention, where some think testing. bit long. it’s at if well, may look are yourself, – automated require to you samples, cord manual this of the some comparing that’s You different we and methodologies particularly are requires because

if extending of data publicly, if that. of submitted, But be what is the team is data. – then sort do it’s what’s this the assess again, for how need completed, purpose analyze that’s the then or submission. can is we normally So, the data And solely to will the once shared

there. some sensitivities Sometimes, is there

marking, we clinical is teams. go our in back, And CE if do where same if trials that that we completed QX. something assess can regulatory after are again, then shortly we But the will will will expected discussions we with So, the share, in on as thing do certainly, based we soon the possible. submission as

see – we submission. for wait of the excited the are So, outcome and to that

a great in like Europe, XX just CE hoping Mark. CE understand update, of hand, it potential better valuations I – get was conducting tenders in on the question Mark by just commercialization once fiscal And Great. – you to the minimum XX and sounds sites is will QX. at XX

and the for just revenue But You MosaiQ workflows, – to that time evaluations kind installs at will understand Europe. testing parallel. going to it of on process. process actually will this the into the signing, the and from integrating start to starting install evaluation, conducted could in take be centers, getting help and And how these us those maybe have in and an then generate tender evaluation

Yes.

the So, great Thanks, Josh. question. – a that’s

of tender requires out that are evaluating, XX evaluation we right. demo, not a the So, tenders an every or

So, that’s thing. one

those that in that have So, very the influencing part process. require – the they is successful and second we piece like an evaluation, that would been tender evaluation, that’s or to of have

in So, control necessarily something timing. it’s that terms of not we

we the they how are have customer depends adhere on from a tender. will It timing run, of experience going So, interface. samples the to to the to many

takes it week. a Sometimes,

a it do of takes process. their weeks as they Sometimes, couple

our intent into turn a – done that is evaluation is once a Now can revenue instrument is of for or that course. an demo done,

it. give They we it’s MosaiQ, of easier – for in They keep keeping So, a spin. successful that this the because because running want to the a in the commercial with instrument it the back. car teams, Once don’t is customers working of are capabilities which experience. and they the have mind, like – want has, to use, taking a we very – experience

in need through. intent we our process the the what and that’s abide Again, as So, tender in they demos go these evaluations, by well. to

do to able immediate is is and to an whatever comment really intent But process there that to our be accelerate then ensure So, adoption in timing. certainly, that. I our that can’t on following power is

evaluation those already a them of just the And just kind MosaiQ considering we sites should terms these other be earlier potential sites had placed need where an are systems follow-up, Great. evaluation and been have that work of customers were within other Are hypercare historic in may new have process and sites, done. and period the...? and that than ripe already completed this of some as customers XX understand evaluation won’t

– yes, exactly Yes, I Josh. that’s right. mean

the of X went assays, that to with progress solution visit are So, sites went were that been X pleased MosaiQs workflow again, laboratories experience happen value but mean see. have we at the there also introduce was looking that had on different the whether floors. in or hyper one customer also made, can MosaiQ, to have I achieved, in Well, customer to COVID the that were the the X with be who the are – or past tell this, the on going potential with those, I you, that they just on this that you we not COVID room. the of is the super MosaiQ. to advancements I And with a I had performance that’s week. they when sites the

can’t they because you and value. good to So, I product think solution. our create when will you start coming? market so believe are value come times, And frankly, see Can tell to okay, this is the I they we like, of think many I

focusing the are we the the what it’s all for evaluation, on, the that’s our within again, So through through those scope are whether tender process, team. hypercare whether through sites,

the think about for the clinical testing, with thinking that think the right that I just Excellent. centers prior system it? had COVID sites, And Is blood Europe, about thinking workflow just should MosaiQ, we the hypercare MosaiQ direct sites more to about about topic. this in last or Thinking field trial experience to and have follow-up launch. mean the way the XX about placements this on

I comments? I say Yes. have fair Peter, a you would any know, number. don’t that’s do

I that’s right. would Yes. roughly say Yes.

probably the said, XX, we between hypercare, have you then COVID a sites, trials, that’s As yes. XX to yes, field XX

the Great. for gentlemen Thanks taking questions.

Josh. Thanks

proceed. from question Please Our next is Jefferies. with Brandon Couillard

this of is Since be the MosaiQ about with morning. right you Dr. and of and of CTO to of now right, as the Is started with Good it pipeline this the to respect development, at in someone time Thanks. given to really play into hiring, commercialized, is near-term? why about role? late-stage Hi. sort kind Hausmann’s Just you will are thinking and how in be terms bring he of? he in expertise exactly that curious charge what top to molecular will

in are with transfusion, expertise And of next to experience impact Well, a before launches we to a areas – And in characterization same have also to doing support for us, that assays, he we we there. us is a big has a to set developing focus ensure seen have accelerate part have we we have bringing also able and what’s for have – in different tests we – planning on the some great are movie of to to anticipation great in which it’s terms the in the I this what in as at that time, screening at take bit think, focus. experience that our the But it think advancements, significant mean can that. it’s the before the early on to think make internally side, And and what then been us help definitely molecular still important are eyes of I are the transfusion. blood also He be is we make this as extensive that serves front I of to and previously. the think serological of contribution in made designing, of involved level. us to then, the team but piece we nature I a I beyond look look,

so Michael bringing at think help time I going this as this in is well. And to

a for menu for and think it’s that current way. lot of deliver for maturity a then experience team brings he or effective whether to I the our in menu, more structured future So,

Got it.

Expanded prior field for in concurrent menu. asked you J.J. the the this year? V&V V&V that we studies release see X.X Earlier, Will microarray. Okay. curious the that data as for of you to later to and plan about to IH I the timing am U.S. Europe data starting SDS

can’t answer now. I that Look,

team myself, to participate in are honest, be the even in that. core conversations and again, still I meetings I around think, we

don’t I be this I on intent – in months specific It next a share answer. certainly this and think on in area. to – weeks we mean, the would have made our I the have progress

it’s on help that understand understand and But sharing the people will at solution effectiveness time. these we consider, data decided how but sure. not for made this it’s something of of our can we I some can something that, certainly, the So have have progress we

it. Got

Peter, last the guidance Okay. for ‘XX? year, And magnitude quantify embedded for the just pricing for in both then could reagents what’s you last in ‘XX? of for fiscal business, net Alba the And one

Net pricing question, was your Brandon?

That’s right.

right? so Okay. very really wide pricing depending the products, So, the it’s is Yes. Well, range. a different pretty on

be is is growth very it anticipate maybe for of to comes what that previous than we little be the last when decrease there the into is for price a Now guidance, FY our to baked ‘XX contract customers. why of this lower which large in guidance the year, and we built one year-over-year a into to the And years. saw

is average we how keep back that’s your the on depending because of question. of given pricing So, – product. range front And difficult the giving broad the

Excellent, you. great. Thank

end the would for the of section. over our I turn reached back to closing to have like We management conference remarks. question-and-answer

us soon. want call. call, I updating progress dialogue. to and look everyone Well, the look again, forward on the earnings to quarterly you we and to next you the the appreciate thank forward we really I on this today to for joining on And open questions speaking

thank you. nice day, and So a have

conference. today’s you. conclude Thank does This

thank may you for your this disconnect You time. lines participation. at And your