Q3 2021 Aspira Women's Health Inc Earnings Call
Good morning, ladies and gentlemen, and welcome to Aspire Women's Health incorporated third quarter 2021 Conference call. My name is Paul and I will be your coordinator for the call today at this time all participants are in a listen only mode. Following management's prepared remarks, we will open the call for your questions.
As a reminder, this conference call is being recorded today.
Leading the call today are Valerie Palmieri, President and Chief Executive Officer, Bob <unk>, Chief Financial Officer, and Dr. Leslie Bartlett Chief Scientific Officer.
After the prepared remarks, we will open the call for Q&A.
As we begin I would like to remind everyone that statements made during this call, including the question and answer session relating to a star is expected future performance future.
Business prospects or future events or plans are forward looking statements as defined under the private Securities Litigation Reform Act of 1995.
Although the company believes that the expectations reflected in such forward looking statements are based upon reasonable assumptions actual outcomes and results are subject to risks and uncertainties that could differ materially from those anticipated due to the impact of many factors.
Beyond the control of this virus.
Company assumes no obligation to update or supplement any forward looking statement, whether as a result of new information future events or otherwise except as required by law.
Participants are directed to the cautionary notes set forth in today's press release as well as the risk factors set forth in inspire his most recent annual report and second quarterly filed reports with the SEC for a description of factors that could cause actual results to differ materially from those anticipated in the forward looking statements.
At this time I would like to turn the call over to Valerie Palmieri, President and Chief Executive Officer.
Sure.
Thank you operator, good morning, everyone and thank you for joining us today.
This morning, we will review, our third quarter 'twenty, 'twenty, one accomplishments and financial performance as well as to provide an update on our core strategic developments.
And in mind, it's truly transform women's health, starting with ovarian cancer.
Our goal is to eradicate late stage detection of ovarian cancer and insurance solutions will meet the needs of women for all ages races, ethnicities and stages of disease.
We seek to develop a lifelong relationship with each patient from puberty to cure it.
Ensuring each woman has access to the best in class diagnostics.
This morning, I'd like to make comments on our core operations provide an update on our pipeline as well as an update on managed care progress and our government Affairs initiative.
First I would like to address our recent departure from our board Dr. Sandra books.
That's your Brooks has resigned due to family reasons, which limits her time and availability, we wish Doctor Brooks, well actually deals with the family situation and thank her for the many insights and support she said she has provided our team.
I am now going to begin with a review of our core business.
We are reporting third quarter over one plus revenue of $1 6 million an increase of 33% over the same period in 2020, and 6% declined sequentially from the second quarter of 2021.
As a result of significant COVID-19 related access restriction in July and August 'twenty, 'twenty, one and key markets.
Our Ova, one plus product volume was 4281 test, which represented 19, an increase of 19% compared to the same period in 2020, and a 6% decrease sequentially compared to the second quarter of 2021.
We believe our 2021 Q3 product volume was significantly impacted by restricted access and customer office closures in the summer timeframe and specifically in high volume areas, such as Michigan, Florida, New York and Kentucky.
And these areas our team had an 18% reduction in volume and a 19% reduction in physician events as a result of Covid.
In terms of Covid access, we categorize each sales territory relative to access restrictions with a green yellow and red designation.
This represents over 90% access for green between 55% to 75% access for yellow and under 50% access for Red respectively.
At the end of the third quarter. The Green territories represented only 13% access yellow was 66% access and Red was 20% access overall.
The total number of ordering physicians in the third quarter of 2021 with 2914, an increase of 20% compared to the same period in the prior year and essentially flat sequentially from Q2, 2021.
The total number of new physicians in the third quarter of 2021 was 444.
An increase of 13% over the same period in the prior year and up slightly sequentially from Q2, 2021 a 1.6%.
Both total and new customers in Q3 2021 were impacted due to decreased access to due to COVID-19.
Volumes are starting to pick up and are trending higher in September and October with a volume on a units per day basis 63.2 in July 66 in August 71.6 in September and 81.1 in October.
We believe this recent growth it's a combination of our commercial investment as well as increased patient visits for.
For October we also had a record number of new physicians of 214.
As we have previously shared one of our strategic objectives is to increase awareness of our brand and product to drive adoption. Our marketing function has implemented a series of new strategic digital initiatives, including paid search social and display media.
Some of the key statistics, we are tracking are as follows.
Paid search has driven over 35000 clicks to the website since the launch in May.
This is a click through rate of 2.67%, which is above average.
Social media engagement on media platforms, such as Facebook, Instagram and Linkedin have increased triple digits year to date, and our followership has increased double digits on a year to date basis.
Our display media helped drive awareness and created a halo effect that made our paid search more effective.
As a result of these initiatives website traffic is up triple digits on a year to date basis with a 239% increase in new users.
In addition, organic search is up 761% on a year to date basis. These stats indicate that our initiatives are growing our awareness.
In addition, we are focusing on select geographies and have seen progress as a result of a multiple front approach and some beta markets in Q3.
This includes marketing support with commercial activation Kols strategic partnerships digital media and paid media more to come on this front.
I'm now moving on to review, our decentralized software algorithm platform known as Spyros synergy, we are making progress and are the implementation phase for two of the largest gynecologic networks in the U S.
We recently announced we have entered into additional technology transfer agreement, which now include a total of four technology transfer agreements since the launch of a spiral synergy.
A few of the agreements are with two of the nation's largest and leading independent women's health care groups, incorporating more than 750 providers and more than 950000 patients annually.
The other two agreements, which are in the implementation phase or with two independent laboratories, providing service across five states that they're northrop with share further comments shortly.
I will now move on to provide an update on our core strategic developments regarding our pipeline payer in evidence development as well as government affairs.
First I will start with our pipeline of products. Our pipeline is built for eating gynecologic health providers with personalized solutions during the entire patient life cycle, starting with benign disease, such as endometriosis to ovarian cancer diagnostics to suspected benign mass management and Andy with women, who are playing for pelvic mass surgery.
Hi.
I'm now going to start with our endometriosis update as well as our endo check breakthrough device program application.
As we previously reported we have two pharmaceutical companies specimen contributions, which demonstrates the critical need for a diagnostic test the collaboration between each of obviously U S. A and Abbvie incorporated with the spiral represents a mutual a dedication to create solutions to help the six to 7 million women in the U S.
Suffering with endometriosis by radically improving the time to diagnosis as today. It may take seven to nine years for a diagnosis. We believe endo check will allow patients to have their endometriosis detected early are and potentially to be treated more effectively and perhaps without the need for unnecessary surgery.
In late October the FDA center for devices, and Radiological health issued an updated guidance for the content a premarket submission for software contained and medical devices specific to artificial intelligence machine learning based software as a medical device action plan, which will provide a much needed framework, but such a.
Aspire or future devices. We are currently working to ensure our endo check development process is aligned to the proposed framework.
We are still in communications with the FDA regarding a breakthrough device program application.
Accordingly, the FDA has acknowledged that there are many compelling reasons why this type of device is needed for both the treating physicians and for patients.
As discussed previously the FDA indicated they are very interested in continuing to work with a spiral and endo check and we will continue our discussions with the agency on the breakthrough device designation.
We believe endo check will allow patients to have their endometriosis detected early or enable their physicians to further personalize their treatment plans and potentially enable more effective treatments without the need for unnecessary surgery, we expect to make a determination on our optimal regulatory path forward by the end of this year.
I am now moving onto our second technology I'd like to update you on which is our proof of concept study, which we've been working diligently with the teams at Dana Farber, Brigham and women's and the University of lots. The evaluation has met the acceptance criteria and based on the outcome data the aspirant innovation team.
Along with our collaborators from the institutions have begun the implementation of phase two.
Yeah.
I am now moving onto oversight, we have determined that we will be branding the test as Overwatch, which we believe is more descriptive of the utility of the test. The test was developed through a rigorous scientific and clinical based process based on data from New York State L. D T and from R. F D a regulatory processes and over 3000 patients.
As you know we have estimated this product with launch in Q4, 2021 as part of the process, we need to do additional scientific and market review.
We are just wrapping up and analytical validation manuscript and will be submitting it to a peer review journal and in fact, our goal is to have more than one peer reviewed publication with robust data prior to launch.
As as careful work progresses, we will adjust our schedule scheduling accordingly.
To that end, we are also continuing our perspective serial monitoring clinical study and ultimately plan to published data demonstrating the clinical validity of Overwatch as a serial monitoring test by the end of 2022 early 'twenty 'twenty three.
We believe this product has the opportunity to have three times. The total market opportunity is over one not including the serial monitoring option.
I am now moving on to an update regarding our payer in evidence development and we have a number of updates.
During this past year, we have been working on a large 12 to 24 month outcome study of over one clinical utility.
This study is specifically aggregating and analyzing data from the multiple sites that are participating in the study.
The data from the study sites will represent a broad section of the country in a diverse population of women.
The company expects to submit a manuscript to a pair of your journal with the results in Q1, 2022 and publish in Q2 to Q3 of 2022.
The purpose of this study has demonstrated the impact of over one testing has on patient outcomes compared to the broadly you see it when twenty-five single marker assay using 12 to 24 month follow up data.
It will measure the impact of over one has on patient care, including both clinical and cost measures, which will be included in our published results.
This manuscript will be supplementing our current Perry view publications, including the over one impact on the quality adjusted life year paper and a budget impact model paper for pairs.
I am now moving onto our clinical benefits guidelines as we discussed on our last earnings call.
Oh, one technology is now considered medically necessary. According to aim specialty health clinical appropriateness guidelines.
Notably they have not include a competitive product called Roma and their guidelines and consider it still to be investigational and experimental.
AME is a member of the anthem Blue Cross Blue Shield family of companies, which for most optimal care through the use of evidence based clinical guidelines and real time decision support for both providers and their patients.
We have commenced a targeted program to obtain contractual coverage with all of the aim remember plans.
We have now increased our covered lives during the third quarter to a total of 194 million. This is an 8% increase from our prior reported base of 179 million covered lives.
In addition, we are making strong progress on the Medicaid front as Spyros now credentialed in the top five states by Medicaid population, which are ranked in the order of Medicaid beneficiaries. They include California, New York, Texas, Florida, and Pennsylvania, bringing the total credential national Medicaid pop.
<unk> for over one to nearly 61 million, which represents approximately 77% of the total U S. Medicaid population.
In addition, as an adjunct to the recently announced coverage of over one by the state of New York for its Medicaid population.
Two of the largest managed Medicaid plans in the state of New York have adopted a favorable policy for over one and are now under contract to provide access to over two an additional 4 million covered lives throughout the state.
Specifically, we have entered into an agreement with health first new York's largest not for profit health insurer Ova offering Medicaid plans Medicare advantage plans qualified health plans in individual and small small group plans.
Health first serves 1.7 million members in New York City Long Island, Westchester Sullivan Orange in Rocklin counties health.
Health first is a pioneer of the value based health care model, where hospitals and physicians are paid based on patient outcomes.
We have also entered into an agreement with Fidelis care, which is one of the largest managed Medicaid plans in New York with $2 3 million covered lives across the state.
Further a spiral women's health is now contracted with high Mark of Delaware for the Medicare advantage membership.
This will ensure that women in this plan, we will have access to the over one technology.
Overall, our market access strategy is making significant progress with our reaching 194 million covered lives representing 59% of the lives in the U S and we believe inclusion and the aim and Evercore guidelines along with the increased access to both Medicaid and Medicare advantage plans provides us with further validate.
<unk> and credibility in our discussions with all pairs.
We expect this momentum to continue as we prepare to submit the latest evidence and over one's clinical utility with 12 to 24 month outcomes.
I am now moving onto our government Affairs front.
We are continuing to gain momentum following our congressional briefings in March and September of 2021.
The company is actively engage with members of Congress and several advocacy organizations, including healthy women the national ovarian cancer coalition, the ovarian cancer Research Alliance and the Black Woman's health imperative in an effort to increase awareness about over one and ovarian cancer and encourage legislation.
That provides financial support for additional clinical trials as well as our focus on diversity and trials.
This also includes discussions on trial requirements for adding the company's ovarian cancer technology into guidelines such as the U S. Preventative services task force, which would support the company's objected to watch a product that is broadly applicable as a high risk screening tool in time.
We are also engaged with multiple state legislators about Medicaid in their states as well as national coverage determination for Medicare for Ova as part of the expanding access.
In addition, the company is also working on the Medicare innovative technology initiative to obtain coverage and reimbursement immediately following any F. D. A breakthrough approval for any of its products.
In summary, we continue to work on our overall strategic goal, which was to emerge from the pandemic stronger.
Our team is now much stronger on all fronts with a solid financial position. We believe we are well positioned to invest to grow and to drive adoption and most importantly save lives.
I would now like to hand, the call over to Doctor Leslie Northrop to provide an update on our momentum to becoming standard of care and you're right.
Acknowledging Dr. Northrop.
Thank you Valerie and supported by our multi omics approach to developing diagnostic test in women's health, we have entered into a partnership with Gina one of the worlds largest community driven genomic data platform to develop solutions to advance women's health and rapid results diagnosis and insight.
G Knox's global platform brings together all publicly available genomic information, allowing for the complete analysis of the data and better patient care.
We plan to leverage this knowledge base to expand our proprietary algorithm development across multiple product lines.
Further to Valerie to comments on our high risk early detection program I would like to update you on is the proof of concept study we have been working diligently with the teams at Dana Farber, Brigham and women's and University of lot.
This study included specimens from earn rich Biobank, one third were malignant across all stages as well as benign and healthy controls.
We were able to quantify the micro RNA expression levels and confirm that the micro RNA biomarkers demonstrated the same performance in our independent samples that as previously published and that you liked publication in 2017.
The evaluation that the acceptance criteria and based on the outcome data. These viral innovation team along with our collaborators from the institutions have begun implementation of phase two.
With this initial stage gate past the team is proceeding to evaluate the combined potential impact of our protein biomarker algorithms coupled with this new micro RNA technology in the development of this assay on a new platform, which we believe will set the foundation for our noninvasive diagnostic in ovarian cancer.
We plan to further validate the same technology as a high risk of ovarian cancer application and genetically predisposed women, which is currently in a clinical study for Ova inherit.
We anticipate that we will have preliminary data in early 2022 to support the verification of our multi omics approach in detecting ovarian cancer.
Please keep in mind. This is a long term phase product and we are delighted to be working with world class institution in the development of this assay, which we believe will have a significant impact on womens health and ovarian cancer.
We continue our utmost commitment to increasing provider awareness and education through our medical Affairs team. This team has hosted multiple successful highly attended educational theory and are currently launching gynecologic and gynecologic oncology Advisory board directed at better management of pelvic masses and improve.
In ovarian cancer early detection.
Regarding clinical studies, we are continuing to recruit more academic sites to support both the clinical validity and utility of our costs. We have also launched a physician initiated research program for health care system.
I'm incredibly excited about the direction of our clinical studies and we continue to build our study program to strengthen the data around our products.
We have recently completed a study combining data from our Philippines and U S clinical studies of diverse race and ethnicity.
Preliminary data supports that used to have single biomarkers such as T. A 125 in atg four has varying average values across different ethnic groups, resulting in increased false positives and false negatives of ovarian cancer malignancy.
These biomarkers were validated in Caucasian population as where their standard cutoffs, which do not translate to noncompete and limit. The abstract is in the process of submission to eight cars.
I would now like to hand over the call to Bob to provide a financial update Bob.
Thank you Dr. Northrop.
Third quarter 2021 over one revenue was $1.6 million, an increase of 33% over prior year.
6% decline sequentially.
43% of product revenue increase is primarily due to lower number of tests performed in 2012.
Due to COVID-19 as well.
An increase in average revenue per test.
Fourth quarter of 2021 compared to the prior year.
The revenue pool.
The one plus tests performed remained flat at $377 for the fourth quarter 2021 compared to the second quarter of 2021 do you on your price increase was 11% compared to the prior year third quarter.
Yeah.
And the overall average price per unit is 12% volume.
With Medicaid.
$94, which we expect to increase over time, as we increase credentialing and coverage.
Pardon.
Medicaid.
$10 during the third quarter, excluding patient direct out of pocket medical.
We realized an average unit price of $486.
Gross profit margin on over one plants was 57% in the third quarter of 2021 compared to 44, 9% in the prior year and 52% in the second quarter of 2021.
You have your increase was driven by volume improvement, while the second quarter gross profit.
One phone calls related to switch.
That did not recur in the third quarter.
Research and development expenses for the three months ended September 30 of 2021 were $1 5 million an increase.
Some 47000 or 3% compared to the second quarter in 2021, our R&D investment increased a 155% year over year or 595000, the spending was focused primarily on product development costs related to overwatch.
Investments in bioinformatics.
And as far as synergy.
Consulting expenses.
And then Chuck regulatory clearance.
They'll be more convinced.
Approximately $5 1 million for the three months ended September 30 of 2021 increased by $1 1 million or 27% compared to the second quarter in 2021.
This was primarily due to increased personnel and consulting costs as we execute upon our commercial strategy.
The part of your sales and marketing expense of $2 2 million was depressed due to lower travel and entertainment.
And did not reflect the current investments, we're making market awareness and sales team additions Gen.
General and administrative expenses from $3.8 million for the three months ended September 30 of 2021, an increase of 560, 560000 or 17% compared to the second quarter in 2021.
This increase was primarily due an increase in head count and personnel expenses and stock compensation expenses.
2 million in general and administrative expenses in the prior year quarter.
Third quarter 2021 general administrative expenses 645000.
<unk> thousand dollars of noncash stock compensation expenses as compared to 343000 in the prior year.
Driven primarily by the market value of our stock at time of Graham.
We ended the third quarter of 2021 with approximately 49 million in cash cash use from operations with the third quarter of 2021 was $7 9 million, which included a number of onetime investments.
Included in the third quarter were investments.
Fruiting services of 550.
<unk> thousand <unk>.
Shaping services, including approximately 243000 associated with Endo check FDA assistance.
264000 for data that is being leveraged for managed care and commercial targeting 120000 for one time legal fees 69000 of I T.
Build out of the synergy platform.
And $40000 associated with fees in support of the congressional briefing and government government affairs activities I'll now turn it back over to Valerie.
Thank you Bob.
Before we open up the call for Q&A, Let me restate, our optimism for building the company for sustainable growth for the near term and the long term.
In parallel we are executing on our larger mission to serve the 20 million women in the U S. Starting with ovarian cancer risk assessment pelvic mass monitoring and eventually tackling the largest disease endometriosis.
Keep in mind, our high risk ovarian cancer application for genetically predisposed women.
Oh, the inherit which is currently in development would be incremental to this market because it would be for women with and without a mass.
Ovarian cancer accounts for more deaths than any other cancer of the female reproductive system and is the only gender specific cancer with greater than a 50% mortality rate.
Our work in products are at the forefront of changing the standards of care in detection of ovarian cancer malignancies.
We believe we are helping close the gap in detection and more importantly survival for women.
In the near term, we believe over one plus with our diversity differentiation and genetics will become the standard of care and personalized pelvic mass risk assessment for ovarian cancer.
For the longer term, we are moving forward with the endo check for endometriosis, and lastly, Ova inherit for high risk genetic predisposition monitoring.
Our end in mind is the incorporation of proteins genes and other modalities to detect gynecologic disease, which cannot be detected via traditional biopsy.
Yeah.
In time, our goal is to become the liquid biopsy standard for these diseases inclusive of all ages stages and most of all all ethnicities.
With our enhanced team financial position and robust portfolio in development, we could not be more confident in across the business. It is now time that all women of every race and ethnicity receive the best possible care and we are proud and excited to make that happen.
We are now happy to open up the call for Q&A and answer any of your questions operator.
Thank you we will now be conducting a question and answer session. If you would like to ask a question. Please press star one on your telephone keypad, a confirmation tone will indicate that your line is and the question here.
We would like to remove your question from the queue for participants using speaker equipment. It may be necessary to pick up your handset before pressing the star.
One moment, please while we poll for questions.
Thank you. Our first question is from Brian Weinstein with William Blair. Please proceed with your question.
Hey, good morning, guys. Thanks for taking my question good morning, Ryan.
So I thought we'd start sort of very near term and then sort of branch out.
Couple of questions here so.
I really appreciate the commentary on green yellow and red and in some of the volume trends there.
Just wanted to.
Just some idea on how you're thinking about sort of the back half of the quarter. We've heard repeatedly from companies throughout the earnings season that there's a little bit of concern.
Relative to potential increased vacation time in office.
Office closures, regardless of a resurgence of COVID-19, if that happens or not so just trying to gauge whether or not you expect those positive trends to continue through the year I know, you're not giving formal guidance here, but as we try and tweak our model a little bit for Q4, and then into early 'twenty. Two just trying to get a gauge and kind of how youre thinking about that.
Trajectory of the recovery.
Yeah, I think it's a really good question because in early summer Ah we saw acceleration of Covid, but we also saw acceleration of and markets that didn't have COVID-19. We saw acceleration of lack of physician events right. So in terms of the holiday season coming up I guess its hard.
To tell but I have to say, we're very pleased with October but we do have you know and you see it all over the news that people are finally able to get together for you know Thanksgiving or Christmas. So will there be more celebration and more time off from a physician office. It could be we did see it in the <unk>.
Summer.
And as I said in markets that we're not as objected with Covid, we saw a lower physician events and what I mean by that is just lunches and face to face time, it's still happening, but it would definitely was low was lower in key markets. So I do right now.
It's all systems go, but seeing what happened in the summertime I would not doubt if if clinicians are also going to be enjoying our time with their families because of this long haul with COVID-19.
Okay.
You know we've had some conversations.
About obviously all of the great things that you guys have done too. She took other very strong infrastructure and you know what.
As we sit here now if I can.
Just under 200 million covered lives Medicaid coverage.
Significant sales force that's.
More than doubled data that's sort of built up here I'm just curious about what else you guys think you need to hit that inflection that you and I have talked about previously.
In sort of in cases at this point it feels to me like the stages is really shot. So is it fair to say that 2022 is a year, where we should see barring any kind of COVID-19 headwinds that return really a nice inflection in how we're thinking of or how you guys are seeing volume starting to roll through.
Yeah, I would say that really comes down to four levers are number one is access right in terms of you know COVID-19 increases, but I think we're learning to live with Covid. The second is as our sales Rep efficiency. You know right now we have 11% of our sales force that is less than three months, we have 47% were in that four to six month.
And we like to have two quarters of our sales reps to have two quarters behind them till they get to full tilt. So sales rep efficiency is number two number three we have price.
And number four is we of implemented what I called regional market plans, where we're focusing on the commercial activation kols are strategic partnerships and digital and paid media So I see.
All four levers are moving in unison and I do think that with the sales team getting to be more mature and we're hiring a great team I do think that the upside in 2022. You know continue we will be we will continue to build momentum momentum, so and really make a stand from.
Not only adoption, but as you pointed out from a payer family and I'm talking both commercial and government payers. So nowhere, we're very excited about it our very positive 2022.
Got it and then the last one for me.
The data is talking about superiority of over one versus tier one twenty-five continues to build and I think at some point that you guys were talking about kind of formally submitting to a cog in trying to get some sort of superiority designation specifically in the guidelines and I might've missed this if you can kind of address this during the during the prepared remarks, but but where does that.
Standard how important would that be if something like that were to play out.
So so a couple of things, yes that is the that is our ultimate goal is to get superiority oversee one twenty-five because right now where we're equal in a sense.
And if it does it's a multi front approach from the I want to say the diversity data, which really initiated out of the Philippines. We have a very exciting a cog abstract that is things that has been submitted.
So yeah I think it's part of its diversity I think part of it is I want to say this government affairs. It's I think there's a time of Congress now paying attention not that they werent paying attention to women's health, but I think there's some renewed interest in women's health and I do think that I'm, taking this data on diverse.
City to a cog is is one of the most important things is that we have need this diversity.
[noise] program, one of the number one initiatives of our company and having taking that to a cogs as well as using thought leaders are behind that as well. So that is the ultimate plan is to take it to a cog and and get the guidelines, stating that you know over one is a product.
That that can actually measure ovarian cancer risk in the you know top races, and ethnicities and we're starting with the black population and also the Filipino Ah study that we'll be releasing shortly.
Okay, great. Thanks, guys I appreciate it thank you Brian.
Okay.
Thank you there are no further questions at this time I would like to turn the floor back over to Valerie Palmieri for any closing comments.
Thank you operator.
In closing, we believe that our accomplishments during Q3 set us up nicely for the remainder of 2021 and beyond we are focusing on doing the right things to drive sustainability and profitability and growth.
With our increased commercial footprint, a guideline endorsed and differentiated test a portfolio of tests within the same call point and now over 59% of lives under coverage in the U S. We believe we are in position to support continued growth and profitability Q2, and Q3, where investment quarters with the addition of sales representatives and new Tech.
<unk> as well as the design and development of marketing materials and content. We are confident these investments will result in meaningful returns and will be impactful to our success in driving the ova portfolio to.
To become the standard of care.
Our end goal is to serve a large global pelvic mass population and overall women's health market with a platform coupled with proprietary science and data tools, which will drive better health and wellbeing to each and every patient we serve thank you for joining us today and we appreciate your support and interest in the spiral women's health.
This concludes today's call.
You may disconnect your lines at this time. Thank you for your participation have a wonderful day.