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APPY 1.45.... Venaxis, Inc - Canaccord Genuity's 33rd Annual Growth Conference Transcript

Link: http://www.earningsimpact.com/Transcript/82925/APPY/Venaxis%2c-Inc---Canaccord-Genuity%27s-33rd-Annual-Growth-Conference#sthash.v8Xgk1KB.Ap8m1wst.dpbs

Date:14-Aug-2013

Noted points:

Potential market..
If we look at the U.S. at an average selling price of about $75, in Europe about the same average selling price going through a distribution model. So we lose some margin there. But if you take that through, and look at penetrations of 5%, 10%, 20%, 30% we pretty quickly build to about $50 million revenue target just in the first few years, and again that is just the on-label use of the products.

Let's talk about the EU commercial strategy for a minute...

And really the idea is to get full scale launch in Q4 meaning the distribution partners that you signed up are actually engaged in making sales calls across the hospitals in the catchments area where we are you can see the markets across the top that we're focused on. They are the this represents about 85% of Western Europe. We've identified distributors in each one of these markets we've actually signed a memorandums of understanding with four of them.

A little bit more on the clinical trial....

As I mentioned we have 2,000 evaluated patients. We've just passed, I believe it was last week the 1,000 patient enrollment is accelerating quite a bit. It takes quite an effort to get 28 hospitals running and running fast and we're there now and we anticipate finishing the study and reporting top line data by the end of the year, submitting to FDA in Q1, early Q1 of 2014.

And as I mentioned all this has been funded we don't have any need for cash as we go through establishing milestones.