InspireMD, Inc. (NASDAQ:NSPR) Q4 2023 Earnings Call Transcript

Ben Haynor: Okay. Step up and then step up for a couple of quarters and then kind of level off as the thinking or does that continue to step up?

Craig Shore: No, no, no, no. In the first couple of quarters, a step off and then just level it off.

Ben Haynor: Okay. That’s helpful. And then I guess, maybe a little bit for both of you, Marvin, you mentioned a full team of high-powered sales reps. How big is that team? How quickly do you bring them on? Anything else that you can help us out with there?

Marvin Slosman: Yes. I think we’ve – Shane has spend a considerable amount of time modeling this, and we’re working through some different scenarios. We’ve both done this before. I think for the U.S. market, the optimal number is somewhere in the ballpark of 60 dedicated full-time direct sales reps with, obviously, support structure clinically and other things. And so we’re building our models around that. In terms of absorption in the market, our goal is to make sure that we’re addressing each of the markets appropriately, and we’re not getting ahead of our speeds. But at the same time, we’re anticipating a very robust response to that approval. So we’re working hard to kind of configure out – to figure out how we how we take these people on at what period of time.

It’s probably about a 2-year runway, I would anticipate then to sort of get fully locked and loaded on our commercial go-to-market strategy, but we’re obviously going to address those markets that are most robust, and we’re going to go as fast as the market sends us signals that they’re ready to buy and use CGuard. So architecting the plan’s first step. And as you can imagine, we’ve had a lot of inbound inquiries from a lot of really talented reps in this market that see us as being sort of this next step in carotid revascularization and they love the direction we’re headed. So inbound inquiries are always a good indicator of how we can land in a good place.

Ben Haynor: Good to hear. Excitement from the inbound end. I think that’s all I had. Gentlemen, congrats on the progress. And thanks for taking the questions.

Marvin Slosman: Thanks, Ben. Thanks for staying in touch.

Operator: This concludes our question-and-answer session. I would like to hand the conference back over to Marvin for closing comments.

Marvin Slosman: Great. Thank you, operator. We appreciate everybody calling in today, and we’re really looking forward to a very robust 2024. And thank you for calling in.

Operator: Thank you. This will conclude today’s conference. You may disconnect your lines at this time, and thank you for your participation.

Marvin Slosman: Thank you.