Delcath Systems, Inc. (NASDAQ:DCTH) Q4 2023 Earnings Call Transcript

Gerard Michel: Yes, that’s — I think if we count patients, who have 1 or more referrals at those sites to show up once they get a consult with an oncologist, it’s probably over 75%. If we count, who is actively being treated somewhere else at the moment, it’s a lower percentage. But these patients are used to going somewhere for a referral. And I think that I’ll just put the majority of the market, I’ll just leave it at that will be covered by these sites because we will be actively putting in place referral networks to these sites, expanding upon the referral networks they currently have.

Sean Lee: And my second question is on reimbursement. So I was wondering whether you can highlight some of the reimbursement processes you have gone through so far, whether you run into any issues and whether you would go with more reimbursements towards — with the — you said with prior payers this year with the J-code active?

Gerard Michel: Yes. So the first part of the year, we did not have a pass-through or a C-code. Sometimes CMS takes more than 3 months to do that. In our case, it was more than 3 months, so we didn’t get it on January 1, which was our hope. And my assumption when I initially gave the guidance of 5 treating sites. But we managed to get 4 sites up and running or we will have 4 sites by the end of the first quarter, using a miscellaneous code. No easy task for a product price at an orphan pricing level that we are at. As I mentioned, starting April 1, the pass-through status will be active as well the J-code, and I think a good indication of the impact of that is the fact that we have 3 treatments planned, scheduled in the first weeks of April. And that is largely due to the fact that some of those sites were clearly winning for the J-code to become active.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Gerard Michel for any closing remarks.

Gerard Michel: Okay. I’d just like to thank everyone for their interest and taking the time to tune in today. And I very much look forward to providing future updates, probably about 2 months from now, given the length of time to get the K out and have this call. So again, I look forward to giving everyone future updates, and I very much appreciate the support. Thank you.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.