Abiomed Inc F4Q08 (Qtr End 3/31/08) Earnings Call Transcript

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2008-05-30 07:55:26.0

Tags: ABIOMED Inc.

Question-and-Answer Session

Operator

(Operator Instructions) Your first question comes from the line of David Lewis with Morgan Stanley. Please proceed.

David Lewis - Morgan Stanley

Good morning, guys.

Mike Minogue

Good morning, David.

David Lewis - Morgan Stanley

First of all, Mike, can you just remind me when the first patient was enrolled in the study this year? Approximately.

Mike Minogue

For the Protect 2, it was last quarter. We announced last quarter that we had nine centers enrolling.

David Lewis - Morgan Stanley

So that is sometime around January?

Mike Minogue

No, the prior quarter. The November timeframe.

David Lewis - Morgan Stanley

Okay. So I am just trying to get a sense of kind of the ramp-up period. Enrollment was a little stronger than I guess we had anticipated. It is about 12% of total enrollment.

Mike Minogue

I will walk you through it. Last quarter we got the approval end of -- two quarters ago technically. So two quarters ago we got the approval end of August. The average for these centers to get them up is around 120 to 140 days. However, we did get nine centers that were ready to go, potentially could enroll by the end of December. So we did. The first patients were done in November from a handful of centers that had already got through the IRB and started screening.

David Lewis - Morgan Stanley

Okay. So if you look at this number -- so that is great, that is very helpful. If you think of your highest enrollment site, what is the number of patients your best enrollment site has enrolled to date?

Mike Minogue

While we have not giving the specifics, but it is double digits and it is really the reason we are breaking this out, because the speed of this trial, as you can see, as the more centers that we have enrolling, the faster it is going to be. We have done 70 patients. There is now 31 centers that can enroll, but the 70 patients was on the first 19 that we have got up and running and we have had over 10 in the last week. So it is ramping up quickly and, as you can see, there is 70 folks that have IRB approval and we only have 31 of them now enrolling. So for those folks it is either getting the purchase order or getting them trained or both.

 

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