Namaste everyone. How are you all today. Feeling good.So before we begin, I want us to do something together. Okay, are we ready. So let's just sit up tall.Inhale. Take a long deep breath in. Hold the breath.Tighten your core, your hips. HOLD THE BREATH. TIGHTEN.Kench your fists. Scrunch your fist. Hold the breath.And now exhale slowly. Slowly. Just let your shoulders drop. Let everything drop.Open your arms. Did you notice that shift. You didn't think your way out of it, right.Your body did. So in this tal ...

Core Insights - Innocan Pharma Corporation has published a research article demonstrating the efficacy, pharmacokinetics, and safety of liposomal synthetic cannabidiol (LPT-CBD) in dogs, specifically for pain management in osteoarthritis [1][2][3]. Study Findings - The study involved eight client-owned dogs with naturally occurring osteoarthritis, who received two subcutaneous injections of LPT-CBD (7 mg/kg) and a placebo in a randomized, blinded, crossover design [2]. - Significant improvements were observed in behavior and function, with 100% of dogs showing improved function after LPT-CBD compared to 25% after placebo (p = 0.0217) [7]. - There was a notable reduction in lameness (p = 0.033) and pain (p = 0.005) following LPT-CBD administration compared to placebo [7]. - The sustained-release profile of LPT-CBD resulted in measurable plasma CBD concentrations lasting up to four weeks post-injection [7]. Expert Commentary - Professor Chezy Barenholz highlighted the importance of this study, noting the clear advantages of LPT-CBD over the placebo [4]. - Dr. Eyal Kalo expressed optimism regarding LPT-CBD's potential for long-acting pain management in both veterinary and human applications, mentioning ongoing discussions with the FDA [4]. Company Overview - Innocan Pharma is an innovator in pharmaceuticals and wellness, developing a CBD-loaded liposome drug delivery platform for non-opioid pain management [8].

Financial Data and Key Metrics Changes - The company reported record total revenues of $209.4 million, up 31% year-over-year [23] - Adjusted EBITDA reached $133 million, reflecting a 27% increase year-over-year [23] - Cash from operations was $78.4 million, with a cash balance of $285.9 million at the end of the quarter [25][23] - The company raised its 2025 financial guidance, expecting total product revenues in the range of $775 million to $785 million, representing a 24% increase year-over-year [25] Business Line Data and Key Metrics Changes - Jornay PM generated record net revenue of $41.8 million, with prescriptions growing 20% year-over-year [6][23] - The pain portfolio achieved record net revenue of $167.6 million, up 11% year-over-year [7] - Belbuca net revenue was $58.3 million, up 10% year-over-year, while Xtampza net revenue was $50.5 million, up 2% year-over-year [24] - Nucynta franchise net revenue reached $54.8 million, reflecting a 21% year-over-year increase [24] Market Data and Key Metrics Changes - Jornay PM's market share in the long-acting branded methylphenidate market grew to 23.4%, an increase of 6.3 percentage points year-over-year [14] - The prescriber base for Jornay PM reached an all-time high of 27,700, up 22% year-over-year [14] - The pediatric and adolescent segment, representing about 80% of total prescriptions, grew 18% year-over-year, while the adult segment grew 29% year-over-year [15] Company Strategy and Development Direction - The company is focused on driving significant growth for Jornay PM, maximizing the pain portfolio, and strategically deploying capital [9][10] - There is an emphasis on raising awareness of Jornay's differentiated profile among healthcare providers, patients, and caregivers [10] - The company remains active in pursuing additional differentiated medicines to expand its portfolio through business development [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durability of the pain portfolio and significant growth from Jornay PM [8] - The company is committed to improving the lives of patients and creating value for shareholders [29] - Management highlighted the importance of ongoing investments in commercial efforts and the expansion of the sales force to drive future growth [10][11] Other Important Information - The company celebrated its 10-year anniversary as a publicly traded entity, marking a decade of delivering differentiated medicines [9] - The company presented nine posters at Pain Week 2025, showcasing real-world data from its pain portfolio [8] Q&A Session Summary Question: How did return reserves and inventory impact Q3 script growth? - Management noted that gross to net improved in Q3, with returns rates and favorable contracting contributing to this improvement [32] Question: What impact did the expanded sales force have in Q3? - Management indicated that while early signals of impact were observed, significant effects from the expanded sales force are expected in 2026 and beyond [33] Question: What is the adherence rate for Jornay PM since the back-to-school season? - Adherence rates for Jornay PM are consistent with typical ADHD medications, showing a standard adherence curve [44] Question: What is the company's approach to business development? - The company remains active in business development, focusing on commercial or near-commercial assets while balancing capital deployment strategies [53]

We've had a lot of phenomenal IPOs this year. Stocks that have exploded higher. Stocks like Hinge Health, which is a digital physical therapy platform.You get it via your phone rather than in person. Not that long ago after this one came public in May, I told you it was worth buying. At the time, the stock was trading at 44.Now it's at 55 and change. Large part because Hinge reported a stellar first quarter right out of the gate a little over a month ago. Can it keep running.Let's take a closer look with Da ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $124 million, reflecting a 14% growth compared to Q1 2024, with adjusted EBITDA of $9 million, representing over 200% improvement from the previous year [5][26] - U.S. revenue was $101.1 million, a 12.1% increase from Q1 2024, while international revenue totaled $22.5 million, up 20.8% [20][24] - Gross margin for Q1 2025 was 74.9%, an increase of 27 basis points from the previous year [24] Business Line Data and Key Metrics Changes - Appendage management revenue grew 19%, driven by 23% growth in open AtriClip devices and 7% in minimally invasive (MIS) devices [8][9] - Open ablation franchise sales increased by 14%, with a notable 47% growth in Encompass clamp sales [12][13] - Pain management franchise saw a 39% growth, largely due to the adoption of CryoStur Max and CryoStur Plus probes [17][18] Market Data and Key Metrics Changes - International sales in Europe accounted for $14.2 million, up 25.1%, while Asia Pacific and other markets contributed $8.3 million, up 14% [24] - The U.S. experienced a decline in MIS ablation sales by approximately 31% due to increased use of PFA catheters [22][23] Company Strategy and Development Direction - The company aims to maintain leadership in multibillion-dollar markets through investments in product development and clinical research [6][7] - AtriCure is focused on expanding the utilization of the AtriClip Flex Mini and Pro Mini devices, which are expected to drive future growth [10][11] - The company is also developing a PFA-enabled version of the Encompass clamp, with expectations for clinical trials later this year [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving double-digit revenue growth and expanding profitability through the rest of the decade [6][7] - The company anticipates continued pressure in the U.S. MIS market but expects long-term adoption of hybrid AF therapy as physicians identify suitable patient segments [16][19] - AtriCure expects to generate positive cash flow for the remainder of 2025, with a modest gain for the year overall [27][28] Other Important Information - The company is reiterating its full-year revenue guidance of $517 million to $527 million, reflecting an 11% to 13% growth over 2024 [28][29] - AtriCure's LEAPS trial is expected to provide significant differentiation in the market by demonstrating the benefits of managing the appendage with AtriClip devices [12][100] Q&A Session Summary Question: Impact of tariffs on gross margin - Management expects a modest impact on gross margin due to the majority of suppliers being based in the U.S., with potential effects in the tens of basis points [36][38] Question: Acceleration in appendage management - The acceleration is attributed to the launch of the Flex Mini device, which has received positive feedback and increased adoption among physicians [39] Question: Guidance for revenue growth - Management is cautious about adjusting guidance upward at this early stage of the year, despite strong performance in key areas [42][43] Question: Pain management growth sources - Growth is driven by increased adoption of CryoStur Max, with significant improvements in existing accounts [45][47] Question: Confidence in MIS business recovery - Management believes there are signs of recovery, with many accounts starting to refer more patients as they experience failures with PFA [50][52] Question: Future contributions from new products - Management anticipates multiple years of growth from new product launches, including the Flex Mini and Encompass clamp [62][63] Question: Launch strategy for Cryo XT - The launch will be methodical, similar to previous product introductions, with expectations for gradual adoption [75][76] Question: Competitive landscape for AtriClip - Competition is seen as beneficial for market awareness, and AtriCure is focused on innovation and clinical evidence to maintain its competitive edge [88][90] Question: Longevity of Encompass clamp growth - There is significant room for growth in the U.S. market, with ongoing expansion into non-AFib patients expected to drive future sales [92][93] Question: Timeline for MIS market recovery - Management anticipates continued pressure this year but expects to see positive trends next year [96][98] Question: Differentiation from LEAPS trial - The LEAPS trial is expected to provide a unique stroke label for AtriCure, setting it apart from competitors [100]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $124 million, representing a 14% growth compared to the same period in 2024 [6][21] - Adjusted EBITDA for Q1 2025 was $9 million, an improvement of over 200% from Q1 2024 [6][26] - Gross margin for Q1 2025 was 74.9%, up 27 basis points from Q1 2024 [25] Business Line Data and Key Metrics Changes - Appendage management revenue grew 19%, with open AtriClip devices growing 23% and minimally invasive (MIS) devices growing 7% [10] - Open ablation franchise saw a 14% growth, with Encompass clamp sales increasing by over 47% [14] - Pain management franchise experienced a 39% growth, driven by the adoption of CryoStur Max and CryoStur Plus probes [18] Market Data and Key Metrics Changes - U.S. revenue was $101.1 million, a 12.1% increase from Q1 2024 [21] - International revenue totaled $22.5 million, up 20.8% on a reported basis [25] - European sales accounted for $14.2 million, reflecting a 25.1% increase [25] Company Strategy and Development Direction - The company aims to remain a leader in multibillion-dollar markets through investments in product development and clinical research [7][8] - A focus on double-digit revenue growth and expanding profitability through the rest of the decade is emphasized [7] - The company is expanding its Cryo nerve block therapy to address postoperative pain and reduce opioid dependency [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive cash flow for the remainder of 2025, with a modest gain expected for the year [27][28] - The company anticipates continued pressure in the U.S. MIS ablation and appendage management revenue in the near term [29] - Management highlighted the importance of maintaining relationships with electrophysiologists (EPs) to navigate competitive pressures from PFA technologies [81] Other Important Information - The company received FDA clearance for the AtriClip Pro Mini device, which is expected to enhance minimally invasive procedures [12] - The LEAPS trial is progressing rapidly, with total enrollment reaching 5,500 patients, aiming for 6,500 by Q3 2025 [13] Q&A Session Summary Question: Impact of tariffs on gross margin - Management expects a modest impact on gross margin due to tariffs, primarily because most suppliers are based in the U.S. [36] Question: Acceleration in appendage management - The acceleration is attributed to the launch of the Flex Mini device, which has received positive feedback from physicians [39] Question: Guidance for revenue growth - Management refrained from raising the low end of the revenue guidance range, citing it is early in the year [43] Question: Pain management growth sources - Growth is driven by increased adoption of CryoStur Max and improved procedure efficiency [47] Question: Confidence in MIS business recovery - Management believes there are signs of recovery, but anticipates continued pressure in the near term [100] Question: Future of Encompass clamp - The Encompass clamp is expected to continue driving growth, with significant market penetration still available [93]