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Nanosphere's CEO Discusses Q2 2012 Results - Earnings Call Transcript

We are the only assay on the market that can provide broad identification of bacteria and drug resistance and a sample to result on-demand test. Recently cited publications demonstrated the benefit of reduced mortality in the intensive care unit from one in two patients to one in 10 as well as a 6.2 day reduction in length of stay saving over $21,000 per patient.

Clearly the value proposition of our blood culture test can save lives, money as well as efficacy of critical last line therapies reducing the risk of resistance. As we update you today we are upgrading our current VerigeneSP customers with new software to run the blood culture assay and are providing the validation support to them as well as new customers coming online. The significant and comprehensive data generated during the FDA clinical trials serves as validation to the sensitivity and specificity of our assay.

Customers are required to conduct their own confirmatory validations and we will begin to get visibility to the timing from installation, training and validation to provide guidance on time to utilization in the U.S. for our new customers. On average we would expect this to mirror similar adoption profiles of 90 days in the U.S. and 120 days in our international markets. These efforts underway in Q3 will serve as the basis for the corresponding revenue ramp beginning in Q4 as customers go live.

As a result of initial market response and the significant opportunity this presents we are in the process of expanding our direct U.S. sales force as well as the technical and clinical resources to support our customer base. The size of this sales and customer organization will double over the next few quarters.

Read the rest of this transcript for free on seekingalpha.com

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