Axonics, Inc. (NASDAQ:AXNX) Q1 2023 Earnings Call Transcript

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Anthony Petrone : Thanks for fitting us in. A couple questions here. First one, Ray, would just be on Radian, thinking about the peripheral nerve evaluation to the lead here. Just maybe, what is the synergy expectations in the core SNM US business, just after this acquisition? And then I’ll have one quick follow-up. Thanks.

Raymond Cohen: So Anthony, I have read your note and the comments that you’ve made. I think you’re right on the money. I mean, I think you understand perfectly that this is going to help us. And it further differentiates us from our competition in anything that that does that is a good thing for Axonics and allowing these – the – our customers to do things faster, easier and more accurate. That’s the goal. Simple as that. So, it’s, I mean, – I can tell you, as you’ll talk to doc’s out there, I mean, even they haven’t used it yet, right? Doesn’t exist yet for them to go to use commercially. But they understand perfectly what this is about. And the typical reaction is, oh! Man! this is this is great. I know, I’ve been thinking about something like this.

I’m really glad to see that you guys have got this technology now. This is going to really help and even the most experienced docs say, oh yeah, I’ve got some cases. I wish I had this for those cases where had a strange, anatomy or I had a very large, a plus-size patient, because when you have a plus-size patient, it does change the angle and it just change the parameters. So we’re excited about this. And we’re anxious to get this approved in and out in the marketplace as soon as we can. And I think it’s going to it’s going to further help us. And in the mean time, I got to tell you, we’re getting a lot of credit just for doing it, right and for having it and being committed to making this available. So, I know, it might be a longer wind answer than what you were expecting.

But I appreciate that question.

Anthony Petrone : No, no. Perfect. And the fall offs here one would just be on raining and would it slot into the existing lead placement codes that you have in place? Is that the expectation? And, this was another tuck-in M&A by Axonics? Just maybe the updated views on M&A and how you’re thinking about transactions going forward within this space? Thanks.

Raymond Cohen: Okay. Alright. Thanks for that question. So, look, I think that we’re less concerned about a separate billing code or I mean, like, generating a bunch more money because of this. This is directly related if we can get more PNEs done and they can get done more efficiently and people have a better experience and it’s more accurate, well then people are going to respond to the therapy and we’re going to get more procedures done. So, this is a game about getting permanent procedures done. Right the external trials, this is not a money maker for the companies. This is just a necessary evil that we need to do. We’ll be able to get a little – a few more dollars, sure. Okay. But once again, this is not like a separate product. This is just part of the workflow of doing an external trial and we’re making this easier for folks. So I think that’s the direct answer to the question Help me Neil with their second part.

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