Drew Hykes: Yeah. I don’t think we’ve changed. We’ve seen any big changes in the competitive landscape. We see continued competitive dynamics, continued entrance to this market. Not surprising. This is one of the most attractive end markets in MedTech. And despite those dynamics, again, we remain the clear market leader and are confident and continue to be the market leader. You heard us describe what that confidence is based upon. This is a market that we built, and we’re not going to sit by and idly, passively allow folks with inferior technology and inferior data have unfettered access to this market. So we’re going to compete. We’re going to compete aggressively. That’s what you’ve seen us do in the past. That’s what we would expect going forward as well.
To the extent we do have new entrants, I think they can be constructive from a market development standpoint. And after all, that’s where the real value creation opportunity is, the real opportunity to impact patients and change the standard-of-care. So alongside competing head to head, we’re also going to continue to focus on the investments we’re making to help develop the market. High quality data, market development, program development, continue to expand our commercial engine, all of those investments designed over time to continue to develop this market.
Operator: The next question comes from Marie Thibault with BTIG. Please go ahead.
Marie Thibault: Good afternoon, and congrats on a very nice quarter start to the year. Wanted to shift gears here a little bit and talk about international. International remains strong in addition to U.S. VTE, and I caught mention of international expansion. Are you in new countries? What does the coverage landscape look like today? And what can you tell us about in China and Japan? I think that’s still set for this year.
Drew Hykes: Yeah. Thanks for the question, Marie. So we had another strong quarter of growth internationally, $9.5 million, the largest sequential increase, absolute sequential increase we’ve had international. That continues to be led first and foremost out of Western Europe, where we’ve got kind of the longest head start of our international effort. We’ve got a well-established commercial footprint at this point and are seeing robust growth continue to be driven out of Western Europe. Alongside that, we’re also seeing some more meaningful contributions from 12, maybe 15 other markets outside of Western Europe, countries in Latin America, Canada, Brazil, Argentina, also across Asia-Pacific and Australia and New Zealand and Singapore.
Some of those markets were not as far along as we are in Europe, but nonetheless, they are now at the point where they’re contributing more meaningfully alongside the growth being driven out of Western Europe. And then finally, we remain on track for putting ourselves in a position to help patients in both China and Japan later this year. And I think as we get closer to those milestones, we’ll have more to share, respectively, on our go-to-market strategies in both China and Japan. But that work continues and we continue to expect treating patients in both those markets by the end of the year.
Marie Thibault: Okay, very good. And then I wanted to ask about the second half of ’24 PEERLESS data readout. What impact are you seeing at this point right now on utilization from doctors maybe anticipating that data? And how impactful do you think it can be to guidelines? We’ve seen some — what seemed to be some more positive shifts toward mechanical thrombectomy in the guidelines, but we’d like to hear maybe from Dr. Tu a little bit on his thoughts on guideline impact.
Tom Tu: Thanks, Marie. Appreciate the question. And we are, of course, very excited about PEERLESS. It represents the first in a cadence of randomized controlled trials that we’ve invested in. We’re leading the way in terms of data generation for VTE. As a reminder, PEERLESS is an RCT randomizing FlowTriever to catheter-directed thrombolysis for intermediate risk PE. And, of course, despite the obvious drawbacks to a lytic-based therapy, including unwanted risk of bleeding and increased costs, we still see that therapy being used in a portion of patients treated for PE. And I think this data set, certainly a positive, is going to go a long way in terms of shifting the — kind of holdouts supporting that therapy towards what we believe is a superior form of treatment.
Now, as far as impact to guidelines are concerned, of course, an RCT carries a higher level of weight than some of the data we’ve generated to date. But I don’t want to discount the value of the largest ever prospective registry in PE, which is the flash data, as well as the flame data, which is the largest contemporary study of mechanical thrombectomy for high-risk PE. And I think taken together, these are going to start shifting the guidelines towards specific mention of mechanical thrombectomy and, indeed, FlowTriever as the source of the generation of all of this important data.
Operator: The next question comes from Kallum Titchmarsh with Morgan Stanley. Please go ahead.
Kallum Titchmarsh: Yeah. Thanks a lot for taking the question. Just on the reshuffling of the sales leadership, I wanted to get a bit more color on what’s going to change under Tim. Should we anticipate adjustments in the way incentives are structured or maybe some initiatives to drive better productivity? Just keen to hear why you think now is the right time for a new direction here and whether this impacts your rep numbers. Thanks.
Drew Hykes: Yeah. Thanks for the question, Kallum. So back in October of last year at our national sales meeting down in San Diego, our former sales leader in the U.S., John Burrell [ph] announced his retirement to the team. John actually joined Inari alongside myself about seven years ago and has been a fantastic leader for us, but was ready to downshift and basically exit a full-time operating role. So we announced that back in October, two months even before the CID was received, and we began a search for a new leader, ultimately landing on Tim Benner, who joined here during Q1. I think the short-term strategy is status quo. The commercial model that we have followed has obviously been very, very effective for us, and I think Tim is certainly respectful of all the success we’ve had and respectful of that model.
He is settling into his new role. I think like any new leader, I’m sure he’ll have some proposals and some recommendations on changes to make, but I would not anticipate any radical change in our commercial strategy or tactics or execution. He’s six or eight weeks into his new role at this point. In terms of the last part of your question on new rep adds, we’re going to continue to add additional sales professionals each quarter as we move through this year. That’s been a part of our model from the get-go. Those new adds are tampering a bit, tapering a bit at this stage of the rollout, but we continue to see opportunities to split territories and expand the commercial footprint, and I think that will be the same strategy under Tim’s leadership as what we’ve followed historically.
Kallum Titchmarsh: Got it. Thanks a lot. And then one more, if possible. I think I know you said it will take a number of years to conclude, but just checking if there’s any progress on the DOJ inquiry since the Q4 call.
