Vericel Corp. (VCEL)

[lasers]

Yes most definitely!

Your question:

If that time schedule is right, then it would mean that the big increase in biopsies for 2017 hasn't even shown up in surgery revenues for the first 2 quarters. What's your thoughts?

From the the latest transcript:

Dan Orlando

To that end, the number of new surgeons using MACI is up significantly in the first half of 2017 and this group represents the fastest growing segment of implants among our target surgeons.
By far, the most important leading indicator for near term is biopsies. Biopsies increased 23% in the second quarter and 20% for the first half of 2017 respectively compared to same periods in 2016.
As is the case with implant new surgeons and former Carticel users are leading the growth in biopsy. The number of new surgeons providing biopsies and the total number of biopsies from new surgeon has increased over 50% from the first half of 2017 versus the same period in 2016. And the increase in biopsies has accelerated over the last couple of months.
Given that implants typically lag biopsies by approximately six months, we expect to see a commensurate increase in implant volumes in the second half of the year.