Procept Biorobotics Corporation · NASDAQ:PRCT
Procept Biorobotics — Investor Day (May 2022)
51 slides from Procept Biorobotics's investor day presentation, May 13, 2022
Slide 1: Investor Event 2022 American Urology Association Annual Meeting
1 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A INVESTOR EVENT 2022 American Urology Association Annual Meeting May 13, 2022
Slide 2: Safe Harbor Statement
2 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Safe Harbor Statement This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including the expected financ
Slide 3: Use of Non-GAAP Financial Information
3 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Use of Non-GAAP Financial Information In addition to financial information presented in accordance with U.S. generally accepted accounting principles ("GAAP"), this presentation and t
Slide 4: Proven Leadership Team
4 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A President & CEO REZA ZADNO, PhD Avedro, Visiogen, PercuSurge, Cardiac Pathways EVP, Chief Financial Officer KEVIN WATERS Accuray, Conceptus, Laserscope (Greenlight), VISX EVP, Chief C
Slide 5: Agenda
5 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Agenda 1 2 3 4 5 Introduction – 10 min Reza Zadno, CEO Clinical Data Review – 10 min Barry Templin, SVP, Clinical & Medical Affairs Financial Review – 5 min Kevin Waters, CFO Commerci
Slide 6: Benign Prostatic Hyperplasia (BPH): A Significant Men's Health Disease in the U.S.
6 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Benign Prostatic Hyperplasia (BPH) A Significant Men’s Health Disease in the U.S. NORMAL PROSTATE ENLARGED PROSTATE (BPH) #1 Reason men visit the urologist 1 in 2 Estimated men ages 5
Slide 7: Large Market & Significant Unmet Need
7 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Large Market & Significant Unmet Need 4.3M WATCHFUL WAITERS ► Choose to do nothing and suffer BPH symptoms 12M U.S. men actively MANAGED for BPH 8.2M Actively TREATED for BPH ~$20B U.
Slide 8: Aquablation Therapy: Uniquely Positioned to Become the BPH Treatment of Choice
8 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Aquablation Therapy: Uniquely Positioned to Become the BPH Treatment of Choice for All Prostate Sizes and Shapes FIRST-OF-ITS-KIND TECHNOLOGY ► Image guidance ► Customized treatment p
Slide 9: Clinical Data Review
9 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A CLINICAL DATA REVIEW BARRY TEMPLIN SVP, Clinical & Medical Affairs
Slide 10: Unmet Need in Surgical Intervention
10 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Unmet Need in Surgical Intervention UNMET NEED: SAFETY & EFFICACY IN ALL PROSTATES ALL SIZES, ALL SHAPES S Y M P T O M R E L I E F & D U R A B I L I T Y P R I O R I T I Z E S E X U A
Slide 11: Clinically Validated Efficacy, Durability and Safety
11 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Clinically Validated Efficacy, Durability and Safety Independent of Prostate Size, Shape and Surgeon Experience Only FDA pivotal study randomized to gold standard TURP for prostates
Slide 12: Safety: Low Rates of Irreversible Complications in ALL Prostates
12 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Safety Low Rates of Irreversible Complications in ALL Prostates Data on file. WATER, WATER II, and OPEN WATER clinical studies. WATER WATER II OPEN WATER Aquablation TURP Mean Prosta
Slide 13: Efficacy and Durability
13 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A M O DE RA TE SE VE RE M IL D Non-Resective2 Drug Therapy1 0 5 10 15 20 25 0 6 12 18 24 30 36 42 48 54 60 IP SS : B PH S YM PT O M S CO RE MONTHS FROM PROCEDURE WATER (30-80mL) WATER
Slide 14: Surgical & Medical Retreatment from FDA Trials
14 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A14 Surgical & Medical Retreatment from FDA Trials NOT HEAD-TO-HEAD STUDIES EXCEPT FOR WATER STUDY MAXIMUM SIZE PROSTATE TREATED: 80 mL AQUABLATION 6.0%1 WATER (5y) Avg prostate: 54 mL
Slide 15: Safety Real-world
15 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Safety Real-world Low Rates of Irreversible Complications in ALL Prostates Data on file. WATER, WATER II, and OPEN WATER clinical studies. WATER WATER II OPEN WATER Aquablation TURP
Slide 16: Resective Surgery: Summary of Key Safety Data
16 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Resective Surgery: Summary of Key Safety Data TURP1,2 PVP1,2 Enucleation1,2,3 Simple Prostatectomy1,2,4 General Prostate Size Treated < 80mL < 80mL > 80mL > 100mL Ir re ve rs ib le C
Slide 17: Automated Robotic Execution
17 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Automated Robotic Execution 0 10 20 30 40 50 60 70 30 50 70 90 110 130 150 R E S E C T I O N T I M E ( m in ) P R O S T A T E S I Z E (mL) WATER + WATER II (30-150mL) TURP (30-80mL)
Slide 18: Financial Review
18 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A FINANCIAL REVIEW KEVIN WATERS Chief Financial Officer
Slide 19: 1Q22 Earnings Recap
19 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A 1Q22 Earnings Recap $14.2M WORLDWIDE REVENUE ~$350K U.S. A AQUABEAM AVG SELLING PRICE 5.6 U.S. MONTHLY UTILIZATION 93 U.S. AQUABEAM INSTALL BASE ~175M TOTAL COVERED LIVES1,2 22 U.S.
Slide 20: 2022 Financial Guidance
20 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A 2022 Financial Guidance 2020 2021 2022 Total Revenue ($M) $7.7 $34.5 TOTAL CASH & CASH EQUIVALENTS BALANCE OF $284.3M AND DEBT BALANCE OF $50M AS OF MARCH 31, 2022 Actual 2022 Guidan
Slide 21: Commercial Strategy
21 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A COMMERCIAL STRATEGY SHAM SHIBLAQ Chief Commercial Officer
Slide 22: U.S. Commercial Opportunity: 8.2M Available Patients
22 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A U.S. Commercial Opportunity: 8.2M Available Patients I M M E D I A T E O P P O R T U N I T Y ~ $ 1 B ~105,000 Non-Resective Surgical Market ~290,000 Convert Existing Resective Surgic
Slide 23: U.S. Commercial Opportunity: Segmentation
23 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A U.S. Commercial Opportunity: Segmentation Target High-Volume Hospitals HIGH (≥100) LOW (<100) 32%68% US HOSPITALS BY ANNUAL BPH RESECTIVE VOLUME (2019) ~2,700 Total Resective Hospita
Slide 24: Aquablation Treated Prostate Sizes – U.S.
24 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Aquablation Treated Prostate Sizes – U.S. 6.7% 18.2% 21.9% 19.9% 12.1% 7.4% 6.5% 3.1% 1.9% 0.8% 0.5% 0.5% 0.2% 0.3% < 40 (40,60] (60,80] (80,100] (100,120] (120,140] (140,160] (160,1
Slide 25: Surgeon Panel
25 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A SURGEON PANEL 2022 American Urology Association Annual Meeting May 13, 2022
Slide 26: Introductions
26 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Introductions University of Toronto Dean Elterman, MD Toronto, Canada Northshore University Health System Brian Helfand, MD, PhD Chicago, IL Potomac Urology Pratik Desai, MD Woodbrid
Slide 27: Dean Elterman, MD
27 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A University of Toronto Dean Elterman, MD Toronto, Canada
Slide 28: Disclosures
28 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Disclosures • Boston Grants/Research Support: Boston Scientific, Pfizer, Clarion • Speakers Bureau/Honoraria: Allergan, Astellas, Coloplast, Boston Scientific, Ferring, Medtronic, Cl
Slide 29: The Only Image-Guided, Heat-Free, Automated Robotic Therapy for BPH
29 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A The Only Image-Guided, Heat-Free, Automated Robotic Therapy for BPH Intraoperative ultrasound imaging combined with cystoscopic visualization provide a multidimensional view of the t
Slide 30: Real-Time Image Guidance
30 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Real-Time Image Guidance CYSTOSCOPY TRANSRECTAL ULTRASOUND Transrectal Ultrasound (TRUS) Waterjet & Cystoscope External Sphincter Veru Lateral Lobe Bladder Median Lobe MULTI-DIMENSIO
Slide 31: Visualize Treatment Area
31 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Visualize Treatment Area
Slide 32: Personalized Treatment Planning
32 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Personalized Treatment Planning IDENTIFY CRITICAL ANATOMY B L A D D E R N E C K | P R E S E R V E2 L A T E R A L L O B E | R E S E C T3 M E D I A N L O B E | R E S E C T1 V E R U M O
Slide 33: Heat-Free Waterjet Resection
33 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Heat-Free Waterjet Resection 1. Data on file at PROCEPT BioRobotics 2. Malek et al. Photoselective Vaporization Prostatectomy: Experience With a Novel 180 W 532 nm Lithium Triborate
Slide 34: Sphincter Protection for Continence Preservation
34 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Sphincter Protection for Continence Preservation Video courtesy of Professor T.Bach, Asklepios Westklinikum Hamburg Use cystoscope to visualize sphincter and verumontanum
Slide 35: Veru Protection Zone for Ejaculation Preservation
35 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Veru protection start marker = 33% of the distance between bladder neck and end marker Veru Protection Zone for Ejaculation Preservation
Slide 36: Veru Protection Zone | Depth of Resection
36 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Veru Protection Zone | Depth of Resection Nguyen D, et al. Predictors of Anejaculation after Aquablation Procedure. Prostatic Disease and Male Voiding Dysfunction. 2021 LOWER RISK OF
Slide 37: Evolution of Hemostasis
37 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Evolution of Hemostasis 20 – 80 mL 11% CAUTERY 2015 2016 2017 2018 2019 2020 2021 2022 H E M O S T A S IS M E T H O D Cautery 0.9%2 5.9%3 2.7%4 0.8%5 1. Data on file at PROCEPT BioRo
Slide 38: Brian Helfand, MD, PhD
38 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Northshore University Health System Brian Helfand, MD, PhD Chicago, IL
Slide 39: Disclosures
39 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Disclosures Consultant: PROCEPT BioRobotics The views expressed in this presentation are those of the presenter and do not necessarily reflect the views or policies of PROCEPT BioRob
Slide 40: Patient counseling and treatment algorithm
40 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Patient counseling requires a Treatment Algorithm • Size • Median lobe • Anterior tissue • Antithrombotics • Catheter duration • Antegrade ejaculation • Durability • Catheter duratio
Slide 41: Patient Experience
41 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Patient Experience URINARY OUTCOMES Magnitude of symptom reduction Speed to symptom reduction SEXUAL FUNCTION Magnitude of function preserved Longevity of function preservation CATHE
Slide 42: Same Day Discharge with Aquablation Therapy
42 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Same Day Discharge with Aquablation Therapy ► Well-established hemostasis method resulting in 0.8% transfusion rate in over 2,000 patients1 ► Confidence in hemostasis and need for CO
Slide 43: Same Day Discharge with Aquablation Therapy Results
43 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Helfand. (2021). Aquablation Therapy Day Case Feasibility [White Paper] PROCEPT BioRobotics ► 87% successfully underwent day-case Aquablation therapy ► 0% readmissions or transfusion
Slide 44: Pratik Desai, MD
44 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Potomac Urology Pratik Desai, MD Woodbridge, VA
Slide 45: Disclosures
45 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Disclosures Consultant: PROCEPT BioRobotics The views expressed in this presentation are those of the presenter and do not necessarily reflect the views or policies of PROCEPT BioRob
Slide 46: Undertreated & Sidelined Patients
46 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Undertreated & Sidelined Patients History PE & DRE IF • Urinary Retention • Recurrent UTI • Recurrent hematuria • Bladder stones • Renal Insufficiencies Symptom Assessment Mild Non-S
Slide 47: Standardized Process Flow
47 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Standardized Process Flow Identify Symptoms • Every patient above 40 fills out IPSS • Physical exam, PSA, prior history • “Is there room for improvement for your urinary symptoms” •
Slide 48: Aquablation Therapy Program
48 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Aquablation Therapy Program 13 18 50 230 2018 2019 2020 2021 A Q U A B L A T I O N T H E R A P Y C A S E S A T P O T O M A C U R O L O G Y
Slide 49: Thank You
49 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A THANK YOU
Slide 50: Baseline Characteristics of WATER and WATER II Studies
50 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A IPSS = International Prostate Symptom Score QoL = Quality of Life *Sexually active men WATER: FDA RANDOMIZED STUDY (n=181) WATER II: FDA SINGLE ARM STUDY (n=101) BASELINE CHARACTERIS
Slide 51: Non-GAAP Reconciliations
51 © 2 0 2 2 P R O C E P T B i o R o b o t i c s C o r p o r a t i o n . A l l R i g h t s R e s e r v e d . ML0447.A Non-GAAP Reconciliations RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA (in thousands) (unaudited) RECONCILIATION OF GAAP NET LOSS TO ADJUSTED 2022 EBITDA Guidance (in thousands)