Q4 2019 Earnings Call
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This is on bricks.
Thank you operator. Good afternoon. This is a bond Briggs with L.A.J.. Thank you all for joining today's calls to discuss Optumhealth financial results for the fourth quarter 2019.
I'd like to remind you that any statements made during this call my management other than statements of historical facts will be considered forward looking and as such will be subject to risks and uncertainties that could materially affect the company's expected results.
It was forward looking statements include without limitation various risks described in the company's FCC reports, including the annual report on form 10-K for the year ended December 31, 2019 to be filed within the next few days.
Importantly, this conference call contains time sensitive information that's accurate only as of the date of the live broadcast today February 26 2020.
Except as required by law Opco undertakes no obligation to revise or update any forward looking statements to reflect events or circumstances circumstances.
After the date of this call.
Before we begin let me review the format for todays call Dr. Phillip Frost, Chairman and Chief Executive Officer, well open the call then Steve Rubin Opkos Executive Vice President will provide a business update and pipeline review and Dr., Jon Cohen will discuss bio reference laboratories after.
To that Adam logo Opco CFO will review the company's fourth quarter financial results and then we'll open the call into question.
Now, let me turn the call over to Dr. Brock.
Good afternoon.
Thank you for joining the call today.
20 warranty was a noteworthy year for opco with significant accomplishments across the company's business units.
We reported favorable top one results for the Somo program Phase III trial in children with growth hormone deficiency meeting or endpoint of Noninferiority for Soma, Gogo and directed weekly versus the current standard of daily and George.
No. We're looking forward to the Endo couple points at the end of March were more detailed phase three trial data will be presented.
[noise] under the new executive leadership, that's been employees since the beginning of last year by reference laboratories is making great progress to improve its top and bottom long financial performance.
We believe the business is stable and is poised for growth in 2020.
In November or for case score it took us receiver, Florida local coverage determination effective December 30 to 29 to.
To reestablish reimbursement for the important Medicare patient population.
[noise] also reality continues to make good progress each quarter in terms of sales number prescriptions number prescribers with clinical trials underway to explain to spread tumor indications.
With these milestones now behind US we point to focus on execution.
To realize the value of Opcos also somewhat to turn the call over to the seasonality going into more detail on or business units [noise].
Oh no. Good afternoon, everyone. Thank you for joining us today.
Still indicated we're very pleased with the company's accomplishments with progress across multiple programs and important milestones.
One of the year as big as highlights was obtained the favorable topline results.
Our global Phase three trial evaluating some metrobank dosed once weekly.
In pre pupil children with growth hormone deficiency.
So much Oregon.
Represents a significant advance in the treatment of children with growth hormone deficiency that should improve adherence to treatment and enhanced quality of life compared with a current standard of daily injections.
The trial successfully met its primary endpoint of Noninferiority to Genotropin injected dealing with respect to high velocity. After 12 months. We're delighted that two abstracts are the dataset have been accepted for oral presentation at the end or can societies 2020 meeting in San Francisco in March.
One pertain to the results of our pivotal phase three study and the other incident like roads backdoor Ikea one levels.
Let me the administration Osama Troeger.
It is worth noting that our phase three trial, including 83 sites and 21 countries, including parts of Asia and Latin America.
The global enrollment is part of a strategy that enables Pfizer our commercial partner to seek approval to commercialize somewhat program on a worldwide basis.
We expect buys her to submit the biologics license application to the FDA and the second half of 2020.
In Europe, we expect a marketing authorization application to be submitted upon the completion of an open label study demonstrating greater benefit in compliance with reduced treatment burden.
Which is expected to be completed its in the third quarter of 24.
The registration study in pediatric ghd patients in Japan is on track for completion by the end of the first quarter with topline data readout expected in the second half of 2020.
Under our agreement with Pfizer Opco is eligible to receive up to 275 million upon the achievement of certain regulatory and pricing milestones. In addition, following product launches in certain major markets, we're entitled to regional tier gross profit sharing for both so much woven and.
Pfizer's Gina Trump.
Turning now to our commercial pharmaceutical business I would like to focus on reality.
From a commercial performance perspective reality numbers for the quarter breakdown as follows.
Total prescriptions of reality in Q4 2019 as reported by Q via increased 89% compared with Q4 2018 and show continued sequential growth with a 20% increase compared Q3 of 2019.
New patient starts increased 15% for Q4 versus Q3.
Since launch over 17000 patients have had reality prescribed by over 2600 positions over 260 position for Tempur said, when new really all the prescribers in Q4.
As of January one approximately 86% the addressable market has access to reality with out prior authorization by payers or other restrictions.
Our partner before her serious anticipates European approvals for reality and first commercial launch later this year.
We are seeking to expand our reality franchise with approvals for additional indications in September 2018, we enjoy initiated cohort one of a global phase two trial for higher strength reality in patients with stage by quite a kidney disease and vitamin D insufficiency, who require regular dialysis.
We expect an interim data read out later this quarter.
Also we have an ongoing comparative phase four study designed to demonstrate that reality is superior to commonly used therapies.
Initial read out of topline data is anticipated later this quarter.
Finally, we are playing in a phase three study with reality in pediatric patients as part of a post marketing requirement and we expect this study to commence in Q3 2020.
We believe these efforts will broaden realities label and further increase its market penetration to becoming a meaningful contributor of sales and earnings for our company.
We have several additional programs in both preclinical and late stage clinical development in our pipeline.
We continue to advance clinical development these technologies, while seeking a partner for some.
Following the successful phase three trial evaluating once weekly CTP growth hormone to treat children with growth hormone deficiency. We are now focused on the development of other along I can therapies for rare disease platform.
The rare disease platform includes a long acting GLP two compound for short bowel syndrome.
GTB hgh antagonist for Acromegaly, an hour CTP, if one for growth failure associated with severe primary insulin like growth factor deficiency.
We're also exploring various indications for our selective androgen receptor modulator or SARM, given a promising clinical data from prior studies, demonstrating increased lean body mass and physical function and decrease PSC levels in aging males.
Recently talked to Poseidon and his colleagues at Brigham and women's hospital confirm previous data in prostate cancer patients who have undergone radical prostatectomy in a phase two study following treatment with our compound for 12 weeks.
Topline data demonstrated that our comp out had a good safety profile increased lean body mass and decrease that mask with no elevated levels of PS there.
Over several studies now our compound has consistently demonstrated improvement a lean body mass and decrease that math aging males, particularly in patients that low levels of testosterone.
Yes, well known that many end stage renal disease patients on dialysis have low testosterone levels and suffer from frailty and muscle wasting symptoms that diminish their quality of life. We're considering a late stage clinical trial evaluating our SARM for the treatment of muscle wasting symptoms, such as muscle strength and physical.
Function in this patient population.
And with that overview, let me turn the call over to Jon Cohen for discussion of our diagnostic business John.
Thanks, Steve and good afternoon, everybody I'm pleased to report the bio reference laboratories continues to make progress towards a school to approve topline and bottom line results were beginning to see the positive impact of the organizational changes we put in place just assist to specifically grow our oncology.
Urology women's health and genetic businesses.
In addition, our plan to develop a vigorous business development infrastructure to identify develop and pursue a pipeline of new strategic partnerships to deliver large books of businesses is beginning to bear fruit, we have seen growth in our accounts related to accountable care organizations IP A's politically and.
Great and networks federally qualified health systems prisons larger medical groups and physician office labs, we are in various stages of discussions with some additional strategic partners and hope to make some very positive announcements in the next several months.
The centerpiece of our strategy remains a commitment to the best possible patient centric experience, that's a differentiate ourselves or the market with an obsession to patient service and convenience. The journey is significantly to improve patient experience has just begun and over the next several months, we will announce new technology investments at partnerships in the.
Speaks.
We continue to make progress with our initiatives to improve payroll taxes with new and network relationships to an increasing number of health plans. This includes increasing our access to Medicaid patients by a new and expanded contracts with a better health Amerihealth Centene and Molina. In addition, we've had success of gay.
Selling and network status with local and regional plans such as the Harvard Pilgrim Health care health that Tri care West Centera and always health plans for GDX at the same time as a result over United Health preferred provider latter relationship we continue to aggressively pursue out of network providers.
And targeted specialty programs.
As Phil mentioned Medicare coverage for Fourq case score resumed on January Onest of this year as a result of the new local coverage decision by Nova to US January 1st month was coverage. So an increase of 16% in test orders compared to December.
We continue to invest into Fourq <unk> score Salesforce and will be doubling the number of sales reps in the next couple of months. In addition, I'm pleased to report that in December the FDA accepted our premarket approval application or P. M. A for the four case score we expect to receive a determination from me F.D.A. this year.
With regard to GDX this quarter store volume increases in Q4, compared to Q4 2018 and year over year growth, we saw an increase of 9%.
GDX continues to strengthen as its relationships with leading children's hospitals and academic medical centers around the country to drive increases in growth in revenue and as a result, our ekso business increased 16% for the year.
I want to briefly mentioned the Kuroda virus outbreak, we have been in constant contact with the CDC F.D.A. and various state departments hotels currently only the CDC and other public health labs are authorized to provide testing for the virus in the United States No commercial lab no commercial test for the virus is currently available.
We are prepared to launch the diagnostics for the virus.
Depending on the advice from the state Department of health as to when commercial testing for the virus will be permit.
With that overview, let me turn it over to Adam for discussion of our fourth quarter financial performance Adam.
Thank you John overall, we saw improvement in the financial results from operations, starting with bio reference reference revenues were $178 million, which exceeded the guidance. We provided during our third quarter call. The results from operations for bio reference Mitt remain consistent with the third quarter internal comes.
Paired of basis to 2018, showing it decreased expenses as controlled by our management team with the cost reductions the John and Jeff and their teams implemented during 2018 2019, we are well positioned to show continued improvement in our operating results throughout 2020.
Our diagnostics segment had an operating loss during the fourth quarter of 2018 of $27.3 million compared to an operating loss of $45.4 million from the fourth quarter of 2019, which included a noncash impairment charge related to our Claire Claros point of care device of 38 point.
$7 million the gear to your comparative results reflect the elimination of over $20 million in cost of revenue and selling general and administrative expense compared to Q4 2018.
Rayaldee revenues of $12.6 million also exceeded our guidance attributable primarily to the strong prescription growth that Steve highlighted and improvement in our net realized price.
The non cash impairment charges, we recorded during the quarter were triggered by the decline in our market cap during the fourth quarter and the allocation and timing of capital available to advance certain of our program.
These factors impacted the assumptions and estimated timing of the programs future cash flow.
The noncash impairment charges impact, both our pharmaceutical and diagnostic operating segments by approximately $53 million and $39 million, respectively totaling approximately $92 million recorded during the fourth quarter.
Overall, our cost and expenses, including the noncash impairment charge totaled $337 million for the fourth quarter of 2019, which compares to $311.9 million for the fourth quarter of 2018, which included a noncash impairment charge of $21.8 million.
Our guidance of costs and expenses of $265 million to $275 million Didnt take into account the significant noncash impairment charge taken during the quarter cost of revenue selling general and administrative and other operating expenses were otherwise inline with our expectation.
With R&D being slightly below our previous guidance coming in at $23 million, reflecting lower costs associated with our hgh.
We announced today that we entered into a credit facility with Dr Frost, providing us with $100 billion the liquidity on a non dilutive basis.
We believe the availability of these fun along with our cash balance as of December 30, Onest of $85 million provide us with sufficient liquidity to fund or development program into 2021.
Our Rayaldee commercial organization has now providing positive cash flow with bio reference is continued improvement in operating activities 2020 should result in a reduction in cash used by operation.
With that I wanted to review our expectations for 2000, Twentys financial performance based on what we know today and more specifically our anticipated first quarter 2020 financial results.
We expect revenue from services for Q1 to be between 168 and $173 million. The revenue range provided as a based on a mix of volume the reimbursement assumptions and compares to $178 million for the first quarter of 2019.
And looking at the full year revenue from services are expected to come in between 715 and $740 million, which compares to the $716 million for the full year of 2019, the revenue ranges for Q1, and the full year forecast reflects our assumptions around the impact of.
Demo along with the expected benefit of full year of poor case core revenues overall volumes in our clinical lab testing being similar to 2019 volume and continued growth of our genetic.
Turning to product revenues, we expect the first quarter to be between 30 and $32 million, including revenues from Rayaldee of between 9.3 and $10.5 million, while revenues from the transfer of intellectual property are expected to be between 15 and $18 million for the.
Full year, we anticipate product revenue to be between 130 and $150 million, including round the revenues of $50 million to $60 million. The revenue range for Rayaldee reflects assumptions around our unit growth as well as our net realized price, which fluctuates from quarter to quarter with the high.
Yes.
Net price typically realized in the first and fourth quarters of the year as well as various assumptions of ranges for our international businesses.
Revenue from the transfer of intellectual property, we expect us to be between 20 and $30 million for the full year, what will be less predictable. During 2020 as it is somewhat dependent on reimbursement of expenses related to our partnered programs rather than the historical amortization of upfront payments from Pfizer.
Looking at anticipated expenses for the first quarter, we expect cost and expenses to be between 265 in $275 million, including research and development expense of $23 million to $28 million for the full year, we expect costs and expenses to be between $1 billion 80 million and 1 billion 100.
$30 million, including research and development expense of $85 million to $125 million.
There are two significant and factors impacting our R&D spend one reflects the available capital to allocate to new R&D programs and the others, how we record costs associated with our license revenue, which was that represents about 50% of the range.
Expense rationalization and capital allocation will remain a top priority throughout 2020, as we work to ensure we have the right infrastructure to support our growth.
We continue to have expectations for improved cash flows and financial performance with our within our diagnostics and Rayaldee commercial businesses, both of which are important for continued investments into R&D.
With that ill open the call for questions operator.
Can you to participants if you have any questions. At this time. Please first start and then the number one on your Touchtone telephone and if your question has been answered or you wish to remove yourself from the can you give me press the pound.
And your first question comes from the line of Maury Raycroft Maurice Your line is now open.
Hi, this is pricing on from Murray.
The question if they've got into into abstracts that are posted on ready and we had a wondering if you can provide some more specifics on what and unless it's going to include it in to update.
The main steady and the idea.
Ah, yes, both one well one of the abstracts is demonstrating topline data, particularly the secondary and primary but also the secondary endpoints.
The study showed I can give you a general overview I will get into specifics of take away anything from the abstract but generally.
As mentioned earlier, we met our primary endpoint favored the so much Hogan over genotropin.
This was to not only in 12 months, but also at six months.
Also look at other secondary endpoints, such as Hi, Jeff One we also looked at.
Hi, This DS and again it showed consistent consistent data favoring the.
So much Hogan treatment.
Something that I think the data it will show and when when you do see it a few later when it's presented is that there is a consistency.
Finding the that the data fabric so much Hogan both in terms of age when you separate the patients.
For age or gender or also.
The baseline there a severity of growth hormone deficiency.
In terms of so so that I think consistent the really demonstrates well for the put a foot for the program or the product.
Also the safety was.
Again comparable to Genotropin and we'll have more details on that.
The we will also have an analysis, which I think has become important is the hi, Jeff what Anite, Jeff one.
There will be an oral presentation on that were one of our presenters the person who actually did a lot of statistics on it to demonstrate.
What are the changes in that Jeff one throughout the treatment throughout the year and as you know its use as a way to monitor.
Treatment with growth hormone to ensure that.
We're dosing properly.
Throughout the year and all I can say is I think what the abstract.
It will show is that when you take the Jeff one the estimated mean I, Jeff one for those patients throughout the 12 months that we have a very low percentage of patients that.
That have higher than the end into which is the the with required is low and I just want to see us below too. So I think we're in very good shape from that aspect, but again, it's going to be presented.
At the meeting in more detail.
Thank you.
Well.
Yes.
And your next question comes from the last Dana Flanders Dana Your line is now open.
Hi, Thank you very much for taking my questions I had.
Just a couple I guess my first one on reality.
Obviously very nice quarter, just curious how you expect.
Gross to net.
Tend to trend throughout 2020, and if you could see just a year over year improvement in gross to net I know you talked about it fluctuating by quarter, but just from a year over year perspective should net price be improving.
And then my second question just on the lapse business.
Surprised not seeing a bigger step up in our revenue given the fourkscore is back in that services line.
Can you help us understand some of the pushes and pulls together to bio reference and I know you mentioned Pam but just.
Underlying volume versus price and how we should think about the sustainability of of revenue growth for bio reference labs going forward and I have one quick follow up.
Sure. Thanks, Dan It's just a maybe I'll take rally first and then John and I can can tackle the labs question. So on the gross to net we still expect Ral b to b in the in the low 40% range.
We saw fluctuations during 2000 in 19 to go between is low was 37% in this high is 47% so really depends on the quarter and the utilization in Q1 guidance is expecting the impact of a one payer coming on board and seeing that how the.
Realization of that have that pay your impacts the gross to net but beyond that we don't expect any other new payer contracts are agreements to come in place to drive pricing down.
Actually converse to that we actually were are working hard to bring that net net price up and get better realization throughout the year too.
John do you want to maybe touch on the.
Yeah, Relet relative to Fourq, Hey, just.
Yes.
The LCD wedded to effective January Onest, which so we have all of a one almost two months data where we're seeing.
The churn compared to the decrease significantly that occurred while we had on reimbursement. So I think were.
Also heard we've talked about where he basically doubled the salesforce, but we'll be doubly the salesforce within the next several months to specifically so the Fourkscore test so we remain.
You know optimistic and bullish for Jay.
In terms of the other revenues and volumes.
We've seen to a leveling off last year relative to where we are compared to the rest of the industry were.
We're making significant progress on the strategic partnerships that I've talked about and in addition to beginning to winning new accounts and urology.
And particularly in the cancer vertical the the women's health, we're still working through with a new leader of what we're going to what we'll get to do relative to the volumes with itself were.
Again.
Relatively optimistic about the turned it.
Around the reproductive segment the.
Issues around sexually transmitted diseases.
Issues around the Pat.
The only issue on the women's health side is how we continue to address the inherited genetic portion of that business.
Yes. So then when the revenue guide that Weve provided it does reflect the the impact of Pam, mostly offset by Forte and then the growth initiatives. It's John John is working on on the rest of the business certainly as as some of that sales pipeline that that much.
Sure matures throughout the year, we would likely come back and provide a little bit more clarity on how we think the rest of the years going to shape up but as we sit here today I think that revenue guide is shows are pretty pretty consistent and stable business that that should show better profitability within that range as a result for the fourth.
Okay contributions.
Okay, great. It just one quick follow up maybe a bigger picture question and I know, you're not you haven't given longer term guidance, but trust.
I'm wondering how you're balancing.
Kind of initiating new R&D programs versus the you know kind of push to get a cash flow a positive I.
I know you're doing a nice job managing expenses. This year in reality is growing and you could hopefully have hgh on the market long acting.
Into 2021 timeframe. So just curious how big of a.
A push is that for you and how are you balancing.
Some of the owner stage pipeline programs versus that need to start generating some cash flow. Thanks.
I'll take them so.
So far as the programs that require a lot of capital we're going to not go forward without a partner who will provide the kind of to do that.
The other projects I say come along and we have a couple of their own them. We may see some other interesting projects will only get involved with if the cash.
Required is limited so that we don't anticipate that there will be a big jump in the need for cash poor or renewed during this year.
Okay. Thank you.
Next question comes from the line of Ted Tenthoff from Piper Sandler said your line is now open.
Great. Thanks, Congrats on a good quarter and good strong finish to the year.
A couple of questions firstly.
Thanks for all the you guys called the PM today for the four case score and I Wonder Im trying to understand sort of what.
That does for that product and also how many give a little more color on what's leading to the strong reality growth.
What should be our expectations from that.
Dialysis read out this quarter. Thank you.
So I'll take the Fourq K ones. So as you know and probably the base. Your question, we don't need an FDA approval is continuing to sale because it is fully reimbursed, but it certainly helps on the on the non Medicare commercial payers, there's still some out there that want to see that validation.
I think it will help light on validated for position purposes well.
Going forward has other benefits that you are more strict did it with the a.
We just a local clinical approval to specific side and the like we can expand upon but for now I think it's mostly a validation from another regulatory agency of the efficacy of our test.
Yep.
And reality.
This is Charlie Bishop regarding reality, a number of things were key drivers for.
The increase rail the growth that we saw in Q4.
One of these of course was you know that earlier in the year, we expanded the salesforce that Salesforce has been fully trained has now got time in the field and it's getting traction with regard to sales.
Secondly.
Our messaging improves substantially last year with the publication of a seminal paper and the messaging that came out of that we're getting very good traction with that and lastly, we had excellent exposure at the American Society of Nephrology meeting that took place in Q4 and I believe that the.
Additional exposure that we got during that meeting with our new messaging has driven substantial sales in the past quarter.
Awesome, that's really helpful.
And then just with respect to kind of.
What we should be expecting from the dialysis read out.
What will you be sharing with us.
So we have as Steve mentioned, the first cohort of a global study ongoing we do it's an open label study and we do have.
Planned data expected later this quarter, so we will be announcing in March.
Preliminary data from this study.
And the goal of the study has been to determine.
Several key things first.
Yes.
You administer.
Hi doses of reality have vitamin D analog to patients who cannot excrete calcium and phosphorus because they don't make your and.
Will you see that the drug is tolerated well, so we'll be giving tolerability data.
First and foremost seconds.
There is in the medical literature.
A general understanding that reality, which is calcifediol cannot be activated unless there's a functional kidney dialysis patients don't have functional kidneys. So a goal of the study has been to demonstrate that.
Patients, who don't have functional kidneys can activate reality.
So we expect to be announcing the results.
That aspect of the set and lastly.
There is considerable concern in the literature that a product like reality would be unable to reduce elevated parathyroid hormone levels in patients who developed substantial secondary hyperparathyroidism.
The advanced disease causes the glands to become hyper plastic and less responsive to.
Product like reality, so we will be divulging.
Whether or not patients with advanced secondary hyperparathyroidism can indeed respond to reality.
Right Okay.
Okay.
Can afford to that should be really interesting. Thanks, Tom Charlie.
With respect to reality I think we should also emphasize that.
Our partner before Europe has been working diligently on getting it improve to more.
We are hopeful that we first approval will come sometime this year, perhaps in Germany or one of the large countries.
Okay very good partner.
That's great I appreciate that color from you as you know you you made me think it's just one thing I'm trying to you were mentioning the.
Corona virus testing.
But obviously we've.
Oh reading about this in the press and seeing stocks move up and down and leveraging on the [noise].
Maybe tell us a little bit more about the potential to be testing.
For Crown a virus what would have to incurred together test.
That could be used thank you.
So the.
So what happens is the CDC are ready has release of.
The sequences that are needed to run it. So I would tell you that we could we could get a test up and running.
Very quickly one of the.
One of the questions. It's come up is right now is the is that they prefer that you have what's called the reverse flow Airport lab. So having said that is.
Can get a test up relatively quickly I'm talking about within a week or two once the reagents are released.
But I will tell you that having.
Personally lives through the issues with H one N won.
Zika.
There is a.
There's a certain period it'd be at which point it'll it we hope will actually burn out.
That is.
Close to the end the February entering the spring season in the northeast.
Country of that has a significant impact of flu transmission is it probably does so I'm not going to sit here and predict at all this will or will look like or how much testing will be will occur, but I will tell you. This.
I said it.
The state Department to house, keeping it appropriately relatively tight because they want to track they want to track the.
Oh gosh, if it does get overwhelming then though at least the commercial labs.
So the time is not long forgetting about the cousins it'd be level.
Great. Thank you guys.
Next question comes from the line of religion fleet low and company. Your line is open.
Oh, thanks for taking the questions.
My first question is Interims, all the growth all moment.
For the European Open label studies.
Could you give us a little bit more color well was Intel and.
I guess you you mentioned when that might be completed, but maybe just give me give us a little bit more detail overall and that.
So it's a unique tests unique to Europe is there is a questionnaire base tasks related showing that.
There is a benefit too.
And lifestyle preference.
To the patient injecting once a week versus every day.
It's it's little more copy that in the length of the questionnaire of that's pretty much it so.
So it is not a any clinical element related and small off.
Against this sort of any type of things.
No no there is no clinical element, it's really just determining a benefit.
And compliance it's a preference it's a preference at the end today, it's a problem.
No clinical questionnaire based yeah.
And ER would you remind us one might be the filing time for Europe or Oh.
Hi, there was a suggestion.
Okay.
When we say Q4 for finally I'm wondering for Europe. Your talk about Europe, you're talking about New York.
Oh Euro.
Just havent first half of 2021.
Okay summit.
And maybe one more follow up question here is that a again get to a new car on the virus.
Is this is a rabbit [laughter] a test within revenue read outs are and how that.
For for any other at least some testing and development that is playing out mostly PCR test.
Yes, it it'll be relatively rapidly.
Once we have the test up are running.
24 reported out sooner.
It's relatively quick.
Okay.
Okay, great. Thanks, a lot fishing and congrats confident on quarter.
Next question comes from the line, if Mike Petusky, Oh Barrington Research like your line is now open. Thank you. Good good evening I may have missed its early but was there any.
Catch up in revenue element to the Rayaldee reported revenue for Q4 was that.
You know truly a clean number.
Yes, there was no no catch up Mike It was that fourth quarter activity.
Okay.
Right.
And then.
I think I heard the Gtx volume was up 9%. It was that revenue can you just confirm what that winning forget.
That was that was that was volume year over year was up 9%, okay. What a whole lot Rolex up at whole exome was up 16.
Okay, what about revenue and gene dxi year over year.
So we don't break out that separately, Mike we just it's still remains in that 17% of total revenue from services.
Okay, but you can't give growth year over year.
We haven't broken it out.
Okay.
Alright.
All right and then I was wondering do you have handy what the EBITDA margin in BRL was in Q4 by any chance.
I don't like we can do.
Okay, Yes, the 10-K will come out a little bit.
A little bit later Tonight, if not out yet.
You know if it was positive.
They do get was okay.
Thing that's all thanks.
Yes.
[noise] and I'm showing no further questions at this time I would now like to have the conference back to Mr. fill fast.
Thank you.
Oh, I mentioned before as a great partner for reality and elaborate on might also say that Pfizer has buena terrific partner for our human growth hormone product and from the top of good company the CEO down to the people with whom we were.
It was running tremendous spirit of corporation and at this point, a very high level of energy to get the application for approval this important product.
To the FDIC and so they have been working very hard with joining show and Tony crews and their store growth in Israel and in Toronto, and we're really appreciate the fact that with a little look we may pick up some time on the submission.
So I'll leave you with a positive thought and thank you all for participating.
Thanks, so much to our presenters and to everyone who participated in this concludes today's conference call. You may now disconnect have a great.