STAAR Surgical Company (NASDAQ:STAA) Q4 2019 Earnings Conference Call - Final Transcript

Feb 26, 2020 • 04:30 pm ET


STAAR Surgical Company (NASDAQ:STAA) Q4 2019 Earnings Conference Call - Final Transcript


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Caren Mason

study of the EVO lenses.

The EVO US clinical trial is now fully underway in nine of more than a dozen prominent refractive surgery centers across the US that we anticipate will be part of this study. For those of you keeping track, our US clinical trial will include three distinct phases, leading up to a potential commercial introduction of EVO to the US market. Number one, implanting 300 primary eyes. Number two, six-month follow-up on all patients. Number three, data preparation of the package for marketing approval and submission to the FDA for review. Details of the US clinical trial entitled a multi-center clinical evaluation of the EVO+ Visian implantable collamer lens were posted to clinical trials as of yesterday and will be updated as required.

As we look to the remainder of 2020, our EVO EDOF lens for Presbyopia remains under review by DEKRA, our notified body and we continue to anticipate this product will be introduced to the market through a phased rollout by the end of the second quarter of 2020 in CE Mark countries, targeting early presbyopes ages 45 to 55, our EVO EDOF lens will open a large market opportunity for older patients outside the historically approved 21-year to 45-year old age range for our ICL.

2020 will also be a year of greater marketing investment and creativity in building awareness, understanding and a sense of community around our EVO ICL family of lenses. We will have more YouTube, mobile and interactive ads highlighting the messaging that our research suggests resonates most with consumers. For example, that our ICL lens is removable, that it does not induce dry eye syndrome and that our lenses provide excellent night vision. We'll expand the number of cities where we market in China and have strengthened our campaign in Korea, where we've recently signed a K-pop star [Indecipherable] as an influencer. We'll also have additional new influencer campaigns in Spain, Germany and other geographies that broadens the sense of community among existing and potential EVO ICL patients. In the US, we plan to support the growth of lens-based clinics, while also advertising in key cities with top doctors that have signed alliance agreements with committed levels of ICL unit growth. Last week, we launched our new social media campaign in key US cities, which includes both paid and organic postings on Facebook and Instagram.

Finally, STAAR has initiated a search for its next CFO. As we previously announced in December, Deborah has decided to retire in 2020 after we appoint and transition a new CFO. Before I turn the call over to Deborah for a more detailed review of our financial performance, I would like to acknowledge Deborah's almost 25 years of service to STAAR Surgical. On behalf of the entire STAAR team and most personally, I would like to thank Deborah for her quarter-century of service for STAAR.


Deborah Andrews

Thank you, Caren, and good afternoon everyone. I will start the financial overview with a summary of top