Monogram Orthopaedics, Inc. (NASDAQ:MGRM) Q4 2023 Earnings Call Transcript

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And what I can tell you is that there is a very serious need for technology in certain markets outside the U.S. And I think this could do a lot of good for humanity to have products that basically make surgeons better at their jobs out there. So, we’re getting some comments about more regular updates. And we’ve tried to have a balance of making well-informed updates. It’s — there’s a lot of factors that we hope people can be aware of, right? We are an early-stage company, and we want to be careful about how much we say when we say it and so forth. So, it’s a little bit of a balance. But just because we haven’t been communicating as frequently does not mean we are not working extremely hard, and we’re working very, very hard and the team is highly dedicated.

We are going to try and make more of a regular cadence of providing updates now that we’re kind of closer to basically some of these big milestones that we’ve described. Ankush Sethi [ph] says, India is a huge market, Yes, we agree, it is a huge market. What’s the population of India right now, how many billions, Kamran do you know?

Kamran Shamaei: 1 billion to 1.5 billion.

Benjamin Sexson: There’s a lot of people who need knee replacements.

Kamran Shamaei: Yes. But I think for India, not only population, but level of sophistication of the surgeons over there and the healthcare familiarity with new technologies, with English, there are a lot of benefits to working with India for sure.

Benjamin Sexson: Yes. What’s nice about India too is the population is receptive to technology. They’re not scared of robotics. Yes. Yes, it’s Ankush says, you can do studies there, too. Yes, we think India is a pretty mature market for clinical studies. Okay. Somebody is asking — so Greg is saying, so can you tell us what the foreign sale is being? So, again in — pretty much — I mean, if there’s a market in the world where you don’t need to go through a regulatory process, please tell us. If you’re from somewhere where Monogram could just go and sell robots that are unapproved, we would like to know about it. But typically speaking, there’s a regulatory process where to legally market your devices and it doesn’t matter where, it has to go through the proper channels, right?

So, what we have said is we have hired a CRO. We have found a distributor. We have found PIs, we have found sites, and we plan to hopefully initiate a clinical trial outside the U.S. So, the — hopefully that’s helpful context.

Benjamin Sexson: Okay. So, maybe we get one or two more last questions. Anybody have any other questions for the management team? Hopefully, this was helpful. We appreciate everybody’s time. I don’t think a lot of public companies have this level of engagement, but we felt like it was really important to give our investors a chance to talk to us. One thing I’ve always said this, right, is thank you for your support. We really, really appreciate it. If your investment in Monogram is causing you stress, your oversized. Use proper risk management. This is part of a diversified portfolio, but I don’t want anybody aping into this and going all in, right? That’s not what this presentation is about. We want people to be conservative, cautious.

If you want to be supportive of the technology, we appreciate it. But don’t put your life’s savings into Monogram, please do not do that. Just support us with whatever you have. And even if you have nothing, you follow the story, share Monogram’s technology, keep folks updated on what we’re up to. So, I do see people who seem very distressed, you probably overpositioned if you’re distressed by your investment in Monogram. Great. We really appreciate everybody. Thank you so much for sticking with us, and we hope to do this with a more regular cadence. I’d say we got a lot of folks who stuck with us the whole thing, so that’s great. We really appreciate your support and we hope to speak again with you soon. So, thanks, everybody. Really appreciate it.

Thanks so much. You follow the story, share Monogram’s technology, key folks updated on what we’re up to. So, I do see people who seem very distressed, you’re probably overpositioned if you’re distressed by your investment in Monogram.

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