AngioDynamics, Inc. (NASDAQ:ANGO) Q2 2024 Earnings Call Transcript

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Jim Clemmer: Yes. A couple of things. So with Auryon, again, we have it in our cycle now, our regulatory cycle with MDR for European CE approval in the first half of calendar year. We’re always a bit cautious as you know, our industry, the MDR process has been a challenge for all of us for the past couple of years, but a regulatory team is a good aspect of control. We think we’ll have Auryon approved overseas in the first half of the calendar year. Second, here, we want to expand Auryon two ways in the U.S. Some of which is part of those six product launches I told you about earlier in the call, one of which happens almost immediately here. Our new radial catheter gets launched as we speak. That’s really exciting. There’s some other things happening with Auryon beyond just those two things as clinicians see what it can do.

There’s been a study called FARO that was completed in Europe last summer and it’s being published, showing how it can be used safely and effectively for coronary applications. We look forward to understanding that study, working with the thought leaders that produced it. And looking with the FDA, working with them on a study protocol and design. We’ll talk more about soon about how we can also embark on the study here in the U.S. to open up a coronary expansion. So we think that’s the next natural move for Auryon, as we know it will be safe and effective in that market.

Steven Lichtman: And nothing new on small vessel on the thrombectomy side DVT?

Jim Clemmer: No new news there, follows the schedule we put forward. We’re doing the work on our process now. Our R&D teams and regulatory teams are working on that pathway we laid out before. So there’s really no new news, Steve, on that front.

Steven Lichtman: Okay. Got it. Thanks Jim. Thanks Steve.

Jim Clemmer: Thank you, Steven.

Operator: Thank you. At this time, I’ll turn the call over to Mr. Clemmer for any closing remarks. Mr. Clemmer?

Jim Clemmer: Thank you for joining us today. We appreciate the hard work and commitment of the AngioDynamics employees. It’s very difficult to work in an environment as fast paced as the Med Tech environment, especially when your company is transforming itself through our portfolio first, and second, into how we do what we do. So today’s announcement of our manufacturing instruction is significant for our company. We think we can better utilize some of those stranded costs that are there, that don’t drive product, customer or company benefit. We’re going to reallocate those costs over the next few years. Some will go to the bottom line and some will be allocated to investments, opening up expansion opportunities that exist in these new technologies we’re launching.

We’re a company in transformation, but we’re a strong company with the direction that’s clear to make our company more valuable for our customers, for our employees and our investors. Thank you for joining us today.

Operator: Thank you. This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.

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