Question-and-Answer Session
Operator
Ladies and gentlemen, if you wish to ask a question, please press star followed by one on your touch-tone telephone. If your questions have been answered or wish to withdraw your question, please press star followed by two. All questions must be submitted at this time in order for it to be registered. Questions will be taken in the order received. Please press star one to begin. Our first question comes from the line of Dave Linley with Jeffries and Company. Please proceed.
Dave Linley – Jeffries and Company
Thanks for taking the questions, hi. Lauren would it be possible to quantify in dollars the amount of inventory increase at year end contributed to revenue in the fourth quarter.
Lauren Silvernail
I think if you look at it, we moved up and I’m thinking here how to explain it because it always depends if you look at it trailing or forward et cetera, but if you look at it, we ended the year specifically a little over a month of inventory and so we probably have between one and a half and two weeks at the end of the year of extra inventory. We’ve got the sales for the quarter at 19 million if you look at it on a trailing basis.
Dave Linley – Jeffries and Company
Okay, all right that’s all. Well thank you. Vince on the Xibrom QD additional clinical data request is this the first time the company is talking about that?
Vincente Anido
It is and unfortunately Dave this is the first time that ophthalmology is talking about that. We were the first ones through this process, they started making noise about this thing when we went to our pre NDA review with the agency back in the late summer so we decided to get ready for it. What’s interesting is again, the study that they’re requesting is not versus placebo, it is just simply a head to head comparison between the old formula dosed once daily which right now we believe you need to dose it twice daily in order for it to work versus this new once a day formula that we put together.
Dave Linley – Jeffries and Company
And the end point in that trial is what, non-inferiority or superiority?
Vincente Anido
What we need to do is show any significant difference between the two formulations.
Dave Linley – Jeffries and Company
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