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Oculus Innovative Sciences, Inc. (NASDAQ:OCLS)

New York City Financial Analysts Presentation

November 28, 2012 11:30 am ET

Executives

Dan McFadden – Director of Investor Relations

Suraj Kalia – Senior Vice President of Northland Capital Markets

Adam Landsman – Assistant Professor of Surgery at Harvard Medical School

Dr. Tom A. Wolvos - Scottsdale Surgical Consultants in Arizona

Rebecca Smith – Pediatric Dermatologist at Fort Mill Dermatology in South Carolina

Hoji Alimi – Chief Executive Officer, President and Chairman

Operator

Good day ladies and gentlemen, and welcome to the Oculus Innovative Sciences New York City Financial Analysts Presentation Conference Call. At this time, all participants are in a listen-only mode. (Operator Instructions) As a reminder, this conference is being recorded. I would now like to introduce your host for today’s conference Dan McFadden, Director of Investor Relations. Sir, you may begin.

Dan McFadden

Thank you. Good afternoon and thank you for joining us for the 2012 New York City Financial Analysts Presentation moderated by Suraj Kalia, Senior Analyst and Vice President of Northland Capital Markets. We’re being hosted at the Grand Hyatt Hotel in Manhattan. This event is an opportunity for the financial community to hear first hand from physicians who are using the Microcyn Technology in a variety of healthcare applications, as well, we’ve decided to extend this opportunity to the investment community at large, thus have made the audio broadcast of this event available via phone and the Internet.

Due to the large number of participants in attendance here at the hotel, we are limiting questions to those folks only and we will not be taken questions via phone.

On the call today in addition to Mr. Kalia are Dr. Adam Landsman, Rebecca Smith and Tom Wolvos. Mr. Kalia will provide greater background on these speakers during his introductions.

Before we begin, I’ll remind listeners that this conference call contains forward-looking statements within the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are identified by use of words such as expect, to expand, would, and anticipate among others. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially including risk inherent in the development and commercialization of potential products, the risk that potential clinical studies or trials will not proceed as anticipated or may not be successful or sufficient to meet regulatory standards, or receive the regulatory clearances or approvals, as well the company’s future capital needs and its ability to obtain additional funding and other risks detailed from time-to-time in the company’s filings with the Securities and Exchange Commission including the Quarterly Report on Form 10-Q and the Annual Report on Form 10-K.

Identified product applications and/or uses are intended to highlight the potential applications for the investment community and does not infer that the company is marketing for these indications. The company does not provide any assurances that such applications will receive regulatory approvals. Oculus disclaims any obligation to update these forward-looking statements.

So with that said, I will now turn the call over to Suraj Kalia of Northland Capital Markets. Suraj?

Suraj Kalia

Sure, good morning everyone. To all the attendees of this backroom and those on the call, we do appreciate your joining us this morning. I know there are a lot of competing conferences going on in the city, especially in healthcare, so you all taking the time here. We do appreciate it.

I will say at the outset just giving my personal experience with Oculus’ product, I have favorable buyers, so I do want to get about there, but that having said, we have the pleasure of having three distinguished experts with us on this call, each of them in their own right bring something unique to this table and hopefully at the end of this conversation, at least my goal as a moderator would be to have each of you leave with something, at least one new thing (indiscernible) on Oculus’ product Microcyn at least from an opportunity perspective. Having said that, the format as we have laid out, we will have each of the physicians give a brief intro about themselves, their practice, how they’ve incorporated some of the products in their practice and what they see the pros and cons in the outlook.

Subsequently, I will open the process of question and answers, believe me, I have tons of questions for all the physicians. So I’ll try to limit my questions at least go on to some in the audience here in this room and thereafter we’ll wrap it up hopefully at the hour.

I do also want to say at least for the audience at large, none of these physicians, and for me as an analyst, during sell side research work, this is very important, none of these analysts have been paid by the company to say whatever they’re saying right now. Again, I don’t know how much it matters to everyone, but for me it is very important to remove some of the bias from their opinions. Hopefully, you’ll get a flavor of that during the conversation.

So, having said that let me start out to my right with Dr. Adam Landsman who is from Harvard Medical School. And Dr. Landsman, I’ll start off with you in terms of the brief intro, we will then go to Dr. Wolvos to my immediate right, and we’ll finally end with Dr. Rebecca Smith here to my left. Then, we’ll open the floor to Q&A. Dr. Landsman, pleasure to have you, sir.

Adam Landsman

Okay, thank you for allowing me to present for this group. As Moderator mentioned, I am here from Boston, I’m Assistant Professor at Harvard Medical School, and I’m the Chief of the Podiatric Surgery Service at Cambridge Hospital in Cambridge, Massachusetts. I’ve been in practice for about 20 years. Prior to my position in Boston, I was the Director of Research for the Scholl College of Podiatric Medicine and also for the California School of Podiatric Medicine. I was the principal investigator for their Phase II study, and in addition my academic background includes PhD in Bioengineering.

Our hospital-based clinic is a very busy clinic. We see on average between 200 and 300 patients a week. We run a wound care program and a complex surgical reconstruction program. We utilize Microcyn in our clinic in several different scenarios. We use it for wound care for part of our treatment regimen for diabetic foot ulcers as well as post-operative infections, and venous leg ulcers. We use Microcyn products as part of our daily dressing changes in both the liquid and in the hydrogel form. We also use it as part of our site preparation when we are using the wound vacuum, and we also use this as part of our treatment protocol for Advanced Biologics.

In the surgery arena, we use it for irrigation of wounds, and we also use it for incision and drainage procedures where we are worried about bacteria load. I think it’s also worth mentioning that we use this prophylactically for our elective cream procedures as well as a substitute for saline irrigation. We also use it as part of our dressing regimen where we used the saline wet-to-dry dressings, we are now using Microcyn wet-to-dry dressings.

Our experience has been very positive with Microcyn. We would like to use it because it’s very effective in eliminating the biofilms, which is a common problem that we see in clinics such as ours, also one of the few topicals that is effective for patients that are affected with MRSA, Methicillin-resistant Staph, which is one of the most difficult bacteria that we come in contact with. In our operating room, we use it as a substitution for what we used to call a (indiscernible) solution, which is saline mixed with either gentamicin or bacitracin. We made the switch over that to Microcyn almost across the board for our procedures for primarily two reasons, one is the much broader spectrum against micros and the second is the cost.

Gentamicin and bacitracin irrigation have to be mixed in the operating room and our average costs for that solution is approximately $90 a liter and we’re currently paying from in the neighborhood of $42 for the Microcyn. And then the last thing that we like about it is we have seen evidence that it helps stimulate wound bed vascularity, and this has been supported by other sites as well or just observes similar positive outcome. Thanks.

Suraj Kalia

Dr. Wolvos?

Tom A. Wolvos

I’m Dr. Tom Wolvos. I appreciate the opportunity to come here and give you an idea of my experience using Microcyn. I grew up in South Bend, Indiana. I have three degrees from Indiana University including a Masters in Microbiology and Immunology and my MD. I completed a five-year general surgery residency at St. Elizabeth’s Hospital in Boston, was in practice in the Boston area until 2001 and then moved to Scottsdale, Arizona, where I live presently. I practiced general surgery, advanced wound care, and hyperbaric medicine, and I’m Chief of the Division of General Surgery at Scottsdale Healthcare Osborn Medical Center.

As far as advanced wound care is concerned, I have given over 250 talks on advanced wound care, and I’m editor of the Scottsdale Wound Management Guide. I have had a lot of experience using negative pressure therapy, the wound VAC, there is a modification of that system, the VAC instill which allows to automatically intermittently instill fluids into the wound.

And back in 2005, I was looking for an ideal solution to use with that system, saw, the article about Oculus in Forbes magazine and had been using Microcyn virtually exclusively with that system ever since 2005 and published the first two articles in the U.S. on the VAC instill. There is a new updated system with that irrigation that is really being promoted now, and there I think there are a lot of future opportunities for Microcyn to be used with that system as it is promoted.

As far as the types of things which I think is important for me to relate to you; one is the safety of the solution. I’ve used it on hundreds of patients since 2005, and I have only had one patient I had to stop it because of some burning that the patient experienced. This is a painful wound, and I think it’s been noted by the company rarely people have some painful wounds and somewhat of a situation where almost anything you put on the wound would cause too much pain and again that’s the only patient I’ve had any issue with over a seven-year time period. It’s non-irritating and safe to use on mucous membranes and you get in your eye, nose, or mouth without any problem whatsoever.

The question is, is it effective, and it seems to be extremely effective. The patients that I’m treating have wounds with a lot of debris and some infection if I treat with the VAC, and still for example, by intermittently instilling Microcyn into the wound, I see rapid improvement of the wound, improvement of infection, and I think that, I’m saving money and taking care of these patients, because I am able to do something without having to take the patient back to the operator room and debride the wound, which is much more expensive to do.

One of the things that I think is pretty amazing and pretty obvious is that if you have a patient that has an infected wound and there are some odor to it, by irrigating the wound with Microcyn, you have almost an immediate reduction of the odor of the wound and it’s really very dramatic. Microcyn works by disrupting the membrane of cells, so that the cell’s life and the result - it was previously mentioned there was also some evidence that Microcyn can help break up biofilms. Bacteria can work together in a unit and become more resistant because they are actually working together, and it makes them much more difficult to treat these kinds of infections, and Microcyn has the ability to not only killing the bacteria in the wound, but also breaking the microfilm apart.

The original claims and present claims with Microcyn are that it is effective at rapidly killing bacteria in solution. Obviously, as a clinician, I’m not dealing with bacteria in solution, I am dealing with bacteria in a patient, and it’s really with that mindset, but I have used the product almost since its inception, and again I’m using it to try and fight infections and using it to help treat infections.

Another affect of the solution is it seems to decrease inflammation I had a patient that was being treated with an open would. I was treating her with an antibiotic ointment. She developed an allergic reaction to the antibiotic ointment. I changed her to the Microcyn gel and saw not only healing of the wound but a dramatic decrease in the inflammatory reaction that she had had from the antibiotic ointment.

If you smell the solution, it has the smell of bleach, and there have been people for years and years that have said that this is just dilute bleach. Even though it may have the same smell or odorless bleach, it’s clearly a different solution and not to get too much into the chemistry, but the main active ingredient in bleach is sodium hypochlorite. The main active ingredient in Microcyn is hypochlorous acid. So, it has completely different active ingredient, and there are bacteria which are resistant to bleach which means bleach cannot kill them, but Microcyn does kill them. So clearly it’s working by a different mechanism of action and it’s not dilute bleach.

I think it’s interesting that when clinicians start using the product, they continue to use it, which is the show off the effectiveness. Also, I have patients who have chronic wounds, and over the years have tried many different types of treatments for their wound, and once they started using Microcyn, now they really kind of demand to continue to use that. So, again I think that’s kind of an indication of the effectiveness that when clinicians start using it in their practice and patients start using it on the wound that they want to continue to use that.

As far as opportunities in the future, again I kind of have to two sides of my practice, I have an outpatient, wound practice in a wound clinic at the hospital and then I also have my general surgical side. I think there is great opportunity for the product in the future on the surgical side. There is a new formulation that the company just came up with that is more effective. It has a longer shelf life and amazingly enough because of the very effective structure that does not have any of the odor at all of the kind of the bleach smell in it, and it’s going to be packaged into the sterile fills or something that can be used as an irrigation in the operative field and surgery and the potential for that I think is extremely great.

With that I would be happy to answer any questions after the completion of the presentation.

Suraj Kalia

Dr. Smith?

Rebecca Smith

Good morning. My name is Dr. Rebecca Smith and I am a dermatologist on private practice at Fort Mill, South Carolina, that’s in the suburb of Charlotte, North Carolina. I’ve been in private practice for 19 years, and I am awarded in Dermatology and Pediatric Dermatology, I got my MD from Baylor College of Medicine in Houston, Texas and I did my residency at MUSC in Charleston, South Carolina.

Currently, I am in private practice in various small private practice centers in the large community of Charlotte, so I see, I probably haven’t had chance and I don’t some coming to the Microcyn tables and a (indiscernible) perspective from the dermatology perspective. So, I got my hands on Microcyn about a year ago before it became available to us in the dermatology world. Right now, I can write a prescription for Microcyn under the brand name Atrapro. Talking about the prescription, my patients can go to the pharmacy and get a prescription for a tube of gel or a bottle of this solution.

And I utilize it primarily for Atopic Dermatitis, the gel – the Microcyn Technology has been formulated into a gel that has simethicone and some other (indiscernible) in there, and it is approved for the itch and pain of atopic dermatitis as well as to reduce the microbial load of the kids, because most of those kids are secondarily colonized with Staph, Strep, and MRSA and what not. And they often scratch themselves to the point of bleeding. So, I can use this to help put down on the colonization of the microbes around their skin, and it also helps them with the itch and also helps them with the pain that’s associated with the healing process of atopic dermatitis, so that’s the primary place where I use it.

But in dermatology, we get hold of things and then we would become very creative with our uses of the topical. So I’ve pretty much tried this on every dermatological condition that you can imagine, anything that’s secondarily infected, anything that’s excoriated, I’ve used it in psoriasis patients, it doesn’t help us to rank as itself, but it certainly helps in healing the excoriations, it helps with itch and it help with pain.

I’ve used it in conjunction with some of my surgical wounds. I’ve used it instead of Neosporin, topical Neosporin or triple antibiotic on post-op wounds essentially for people who are allergic to Neosporin, that’s one of the most common things to be allergic to, so it can replace them with the topical antibiotic Neosporin and practice it out there.

I’m very comfortable with the safety of this product. I actually use it on myself, almost every single day. When I travel, I use the gel as my hand sanitizer, because it’s a much better hand sanitizer than anything that’s on the market, it kills more bacteria and it actually kills viruses. So, when I’m traveling on airplanes, I use the gel as my hand sanitizer. I also travel with the spray. I’d actually put the spray into a little nasal spray bottle, and if somebody is coughing and choking and (indiscernible) around, I will actually use this spray in my nasal cavity so it decreases the chance that I will get what they have, and when I have become sick, I have some since outbreaks over the last year.

I’ve actually gargled with the Microcyn suspension and the Microcyn solution, the Atrapro solution, and so it’s non-toxic to mucous membranes. It has a little of a chlorine flavor, but you don’t really swallow in, you just gargle it and spit, and that being said if you have a (indiscernible) filter it works great for if you gargle, if you swish and spit (indiscernible), it works well for this.

I have used it on cold sores, secondarily infected cold sores; not necessarily for the cold sore virus itself, but for that crusting and secondary infection and pain that you get after a cold sore. I’ve used it for bugs bite, for stings, I’ve had this on wounds, I’ve got a 10-year old boy who is clumsy if you will, and when he falls down (indiscernible), , I use it as a wound wash, as a superficial wound wash that has – soaked in water because it actually works a lot better.

I have used it for intertrigo, intertrigo is the itchy rashes that you get under folds, like under breasts, and under large abdomen, then in the inguinal creases, and actually it works really well for perianal dermatitis, so if anybody has any itchy butt, you can use it for that. I love it for bromhidrosis, and that is our medical term for basically body odor, stinky pits, stinking feet, whatever you want to use it for.

If you actually apply the Microcyn solution before you go to the gym to workout, then you don’t smell as much, I mean, you do not smell as much when you sweat, and it’s not the sweat that is smelling, it’s the bacteria loaded on the skin. So there is a myriad of uses out there. I’ve actually used it in conjunction for its highly microbial infection of the feet. If I have a patient that has tinea pedis or Athlete’s foot, and they also have some oozing and weeping and crusting, I can use the spray on their feet to help decrease not only the tinea that is present, but also the bacteria that are present.

I’ve actually used it over sinus rinse or nasal rinse in a Neti Pot, so anybody who have chronic sinusitis, you can use it for that, again, just because it’s non-toxic to mucous membrane, and anecdotally even on myself and on many of my patients, I have used it for acne, because it is a great antimicrobial agent. It works very similarly to benzoyl peroxide (indiscernible) and so you know how huge that market is. We don’t have any new chemical entity in dermatology for acne right now.

The last new chemical entity that came out several years ago is called (indiscernible)and it’s huge in the market now, and you can look at the market numbers of Atrapro that we have gotten in the dermatology world in the last year, and the market share is growing exponentially because in dermatology there are so many different uses of these, the topical gel and the topical spray, but I think this is an exciting time, I think that more studies need to be done. I think Oculus should be investing into more studies in not only acne, but primarily acne in dermatology, because I think that the Microcyn solution could help to replace benzoyl peroxide and it could be used instead ) of benzoyl peroxide, it could be used instead of topical clindamycin.

It will probably be used in conjunction with topical retinoid meaning something that’s in that retinoid category , so it won’t be like a standalone for acne, but it certainly helps and heal anything that is open, anything that’s excoriated, so I think it is exciting to have something new to play with and to use and something so safe. I use it on the youngest of the infants and you just forget the rashes and like I said, I use it in my own mouth, so I haven’t (indiscernible) right. So, thank you for your time and your attention, and we’ll turn it up for the questions.

Question-and-Answer Session

Unidentified Analyst

Thank you Dr. Smith. So why don’t I do it this way, let’s me start off with questions at least on the wound care side, and then we’ll migrate towards dermatology. Dr. Landsman or Dr. Wolvos, who remember would like to take this question. One of the things when we think about wound care in general, is that wound care is multi-factorial, the etiology vis-à-vis diabetic foot ulcers or chronic wounds, pressure ulcers, you name it, it is multifactorial in nature and with you all looking at patients in your practice, how do you all decide, for example, Microcyn is the agent that you all would want to use at a certain stage of that wound?

Adam Landsman

In our scenario, any wound that’s drifting or weeping, has high exudate, has an odor, these are all things that we associate with bacterial load, and so we’ll use the Microcyn to help decrease that. The ones that I found especially important for using Microcyn is when I’m going to use the Advanced Biologic, I’m going to apply Dermagraft or Apligraf or any of the skin substitute or skin graft like product.

I would like to prepare the surface of the wound with Microcyn. These are very expensive products to apply, on average $1,500 per application. And so, the take rate, the ability of the graft attached to the surface of the wound is very, very critical, and I find that I require less graft and have a higher take rate when I prepare the surface with the Microcyn and I attribute this to two aspects, one is the solution and breaking up of the biofilm, this polysaccharide and bacteria layer that prevents the graft from attaching, and then the second thing is, we have very good preliminary evidence that Microcyn helps with angiogenesis, the revascularization of the wound bed, and for those two attributes that are especially important using these very expensive biologic products.

Tom A. Wolvos

Again it was open wounds, one can have multiple factors causing the issues with the wounds. We have now realized that the wounds are better if they are kept moist. The whole thing led to wound erode and dry out and scab really in some of the folks now that we want to try and keep wounds moist, so using something like Microcyn liquid or Microcyn gel can aid in keeping the wound moist.

And then the other issue as Adam just said is that if wounds have bacteria, either small amounts or if they are actively infected with bacteria, that definitely can stall or slowdown the healing process, and by using something that has antiseptic properties like Microcyn can remove that hindrance to healing and even moving the healing process a lot.

Unidentified Analyst

Let me direct this question to Dr. Wolvos. Dr. Wolvos, is the mechanism of action for the key ingredient hypochlorous acid very well understood in the wound care community or is this something of a process that they will need to go through in terms of learning, at least from our due diligence of the field, just the way wounds are -- at least chronic wounds are handled. It’s pretty, I should have to say that home grown recipes in terms of which center uses what at various stage of a wound, but when you look at what hypochlorous, how broad its microbial effect is, do you think the mechanism of action would be readily understood by the community at this stage given how long the product has been in the market?

Tom A. Wolvos

I think that education obviously is very important to clinicians as to how the product works in solution, and I think in fact this kills bacteria, it kills viruses, it kills fungus, also kills some spores, and the mechanism of action again of disrupting cell membranes and allowing cells to rupture is something, which I think is easily understood when you can get from the clinicians, but clearly there is an opportunity to educate many more clinicians regarding the effectiveness and mechanism of action.

Unidentified Analyst

Dr. Landsman, in terms of your practice, how would you rate -- how cost effective something like Microcyn has been, whether it is just in terms of upfront cost or in terms of total time to wound healing or any other metric that you would define?

Adam Landsman

In some cases there is very direct measurable endings, specifically in surgical irrigation arena, we’ve cut the costs for irrigant in half, and, at the same time, it has increased the effectiveness of it, the example of eliminating gentamycin solution or bacitracin solution in exchange for Microcyn solution is a very tangible cost saving.

Less obvious, but just as an important basis, we see that wounds close more quickly and graft takes more readily, and so there is very, very dramatic obvious savings if you can get a wound to close more quickly with the solution such as this.

Unidentified Analyst

Are you seeing that across the board or is it for a specific subset of wounds that you’re seeing in your practice?

Adam Landsman

We see it with our acute infected wounds probably more dramatically than with our chronically infected wounds. The chronically infected wounds typically require some combination of topical and a surgical debridement. The acutely infected wounds very, very rapidly respond to topical treatments.

Suraj Kalia

I’ll have anyone in the audience if they would like to ask any questions? Please question.

Unidentified Analyst

Is there any evidence of resistance in any bacteria so forth?

Suraj Kalia

Just for the people on the phone call, the question was, is there any evidence of resistance to bacteria using Microcyn?

Tom A. Wolvos

I’m not aware of any development of resistance to Microcyn and any of the microbial organisms.

Unidentified Analyst

(Indiscernible)

Suraj Kalia

Just for the audience on the phone, the question is, is there any application, it is not advisable to use something like Microcyn versus the competition? Dr. Wolvos or Dr. Landsman, why don’t you go in first, and then I’ll let Dr. Smith take it?

Tom A. Wolvos

I don’t think there is really any contraindication that it was not tolerated by the patients, but the likelihood of that is extremely minimal.

Adam Landsman

We had -- in the Phase II study, we have one out of 45 patients that has complained about some discomfort during the actual treatment though, and in my clinical experience I literally came across the last time I had a patient complain about discomfort from the treatment.

Suraj Kalia

Dr. Smith?

Rebecca Smith

In my experience over the last year, I haven’t had any patient that I had to discontinue it because of any sort of intolerance. I think it’s very well tolerated. I think it’s much better tolerated than some of the other topicals that are on the market. And there is not an instance that I can think of where I was, for further competition over there, this is my (indiscernible), or anything that means a topical antibiotic.

Unidentified Analyst

(Indiscernible)

Suraj Kalia

The question is, are there any applications by Microcyn that is not as effective as some of the other competition?

Tom A. Wolvos

Dr. Landsman, do you want to take that first?

Adam Landsman

I guess in some cases, you might want to use it in conjunction with other products, for example, for some chronic wounds, we will sometimes use an enzymatic debrider to get rid of large bulk material, and so I have to use it in conjunction with other products sometimes, but I can’t really think of a situation where the costs would be something that I would prefer.

Tom A. Wolvos

I really think that this is a very unique product and especially with the new formulation that it’s going to be with that clinically in the future where there was -- it’s pure hypochlorous acid and there is no sodium hypochlorite or the smell of bleach in it, you know, I don’t really see a lot of competitions, it really seems to be a pretty unique product.

Rebecca Smith

In the world of dermatology, we do a lot absolutely fast, just for chronic wounds and let me label, hidradenitis suppurativa which is a condition where you have to drain wounds in your axilla and groin. So that was our go to before this product came to market about a year ago. So now, instead of having the patients fill up the bath tub -- the bleach in the bath tub, and sitting in the bath tub for five minutes which is time consuming and doesn’t always happen.

This is so much easier for the patients to grab the bottle and squirt the spray on or put the gel on and go, just leave on, I think this is much more effective than just soaking once a weak or once a day. I don’t know if I could pretty much do the soak, so honestly I use this more than I was using the bleach , because it’s much simpler. I think it’s more patient friendly, it’s more mobile, it’s easier for the moms to use for their little kids, it’s easier for the adults to do some inbound, easier for the older patients that can’t get into a bath tub situation or can’t do any sort of bleach bath, so there is a large market out there in the dermatology field where this product could cannibalize if you will (indiscernible) fast treatment that we utilize on a fairly regular basis.

Unidentified Analyst

(Indiscernible)

Suraj Kalia

The question is if there is a condition in dermatology such as psoriasis or acne where something like Microcyn has been used, does the efficacy reduce over time? Dr. Smith?.

Rebecca Smith

To go to the antimicrobial data, that is we have not seen resistance, then there is not. We are not seeing resistance, and with many of the other antibiotics that we do topically, there is resistance on like that, either clinicians are saying there is resistance to (indiscernible) there’s resistance to mupirocin and there’s resistance Neosporin. We are seeing resistance to many of the other antibiotics, and that has become a huge issue in America and the overuse of antibiotics, so I think this could actually be a wonderful thing for society if we could finally find a topical item where you wouldn’t see resistance to the different microbes out there, can’t become just because of the way it kills them, yes, I have not seen a decrease in efficacy over time.

Unidentified Analyst

There is a thing like I cuts of what are the (indiscernible) do you have. What is the key component you think you really see in market, I guess, again everybody know about it and really want to convince?

Suraj Kalia

The question is since the product is above in the physicians’ estimates about what they use currently, what would they do to create more awareness of the product?

Rebecca Smith

Marketing. Honestly, the dermatologists that have used it know it, love it, and prefers more and more of it every time, because once you get into the hands of the physicians that understand it and they have tried it, it grows exponentially without saying. So I think, just marketing through the clinicians, just let him know the product is out there. So, we have a small pharmaceutical company in dermatology that counts on us that brings us the Atrapro gel, the Atrapro spray. And they’ve been very effective, and after (indiscernible) but some of the dermatologists haven’t heard of this yet. So just getting the word out as that doing more studies, getting published in peer-reviewed journals, just so that there is just more information out there for the clinicians. This product will sell itself, it doesn’t need to be marketed, and it just needs to be shown to the physicians.

Tom A. Wolvos

If you look at the adoption of new technologies, there are some people who want to be at the forefront, and they’re willing to try anything and for those types of people it’s just kind of getting the word out and getting the message. There is a bulk of people that really want to have a lot of data, and I think whatever you think that I am really happy to see the company do it, they want to do some randomized controlled trials to give real science behind the data and hopefully as those studies get completed over the next several years and they are able to get a drug claim for the product, that also is going to really drive the use of the product.

Adam Landsman

I just wanted to add to that, I think as the packaging for the product has improved, the applications have also broadened, we can take it into the operating room, we can take it into the clinic. And the more as we work with the product, the more creative applications we find for it. I think that will help to expand the market.

Unidentified Analyst

I am not in the medical world but that is my preference to come. Do you folks see any downside (indiscernible)drugs.

Adam Landsman

Keep waiting. Somebody saying, it works everybody but old guys with gray hair.

Unidentified Company Representative

The question is do we see any downside to a product like Microcyn?

Rebecca Smith

Right now the only downside that we have in dermatology is the 510(k) product. So it is a medical device right now. So, we’re not writing prescription for it. Some of this in terms of (indiscernible) and not cover. Right now, it’s a medical device, so I wish it had a drug application. I wish we got to see a true drug with the studies that had been done and we could market it as a true NDA, right, a drug rather than a medical device.

Unidentified Analyst

Hopefully, would that change?

Rebecca Smith

Medical devices are not well covered by the insurance company, so then it becomes a burden for the patient to pay out of pocket for these types of products. If it is truly a drug, if it’s gone through the proper studies and the proper channels of the FDA and we write a prescription, then it’s recognized by the insurance companies and there is better coverage for drugs than there are for medical devices. So I think that would be the most helpful thing for our patients to get the drug application rather than just a medical device application.

Suraj Kalia

Dr. Landsman, Dr. Wolvos.

Unidentified Analyst

(Indiscernible).

Suraj Kalia

The question is, what is stopping from getting a drug application or a drug classification for this product. I’d like Dr. Smith take it first and then on the wound care side, Dr. Landsman and Dr. Wolvos.

Rebecca Smith

It’s a very long and extensive process, and I am sure Oculus will love your help to do that.

Adam Landsman

And again, that’s the answer; it’s a somewhat long, slow process. The company is -- and that’s the goal of the company to get them claimed , but it’s something that really can’t happen overnight.

Unidentified Analyst

When you say long, give us a little light and an idea how long is long?

Tom A. Wolvos

I think you’re talking, the question is how long can a process like that take, and I think it’s something that can be years if not a month or six months. I think if you go through different phase trials, it can take years. That’s not to say that -- you know, the question comes up of off label use of products or medications.

And as a company, Oculus cannot promote off label uses, so even though they show that it is antimicrobial solution, they cannot make the claim that it is an antimicrobial in a patients’ body. As a clinician, as long as we are supported by sound judgment and effective use of products, we can use medications and solutions and technology off label to the point where if the off label use of product becomes a standard of care, as a clinician, we can be sued if we’re not using the product which is considered as a standard of care even if it’s off label. So, it may be scary to sound that it is going to take several years to get through the process of getting it approved as a drug, but that doesn’t mean that clinicians are not going to continue to use it and in increasing numbers use it until those claims are finalized.

Unidentified Company Representative

I would just add to that. Historically when the company’s have made these estimates to go for the additional clearance, that just does come back to them as many multiples, all because the product becomes dramatically more valuable and the physician can write a prescription for rather than if patients pay for them right on the spot.

Unidentified Analyst

A comment a little bit more about you said it’s effective against MRSA. So, in those cases, how long do you have to treat the patients and did you have to then use any other antiviral?

Suraj Kalia

The question asked is to Dr. Wolvos and Dr. Landsman, is that Microcyn is effective against MRSA, so have the physicians seen the usage of other products also where it failed and Microcyn does the job and how long did they use it so that it activates…

Tom A. Wolvos

So Microcyn will kill MRSA on contact, 30 seconds of contact. This is surface infection, however. If this infection is systemic you have to augment that with oral or intravenous antibiotics.

Adam Landsman

I think it’s important to realize that often it’s more as a multi-factorial and often it requires several things working together to help treat infection or heal the wound.

Suraj Kalia

Let me pepper in a question for Dr. Landsman and Dr. Wolvos. Just given the landscape -- the structural landscape is changing, do you all see a role for now hospital-acquired infections could be airborne, a lot of them are, but can you see applications for products such as Microcyn in some form, and adjunct to that question is we know in the wound care space, CMS is pretty much looking to cut cost wherever it can, we know what’s going on in the negative pressure therapy, competitive bidding, so on and so forth. Within the whole armamentarium of tools, in your opinion how do we create a physician for something like Microcyn so that it can effectively be seen as a tool for reducing costs within wound care?

Tom A. Wolvos

As far as hospital-acquired infections, I think one of the most common ways that an infection can be hospital acquired is through the clinicians not appropriately washing their hands, so to try and prevent contamination -- cross contamination is extremely important that clinicians wash their hands between cases, and I think it’s interesting that you talked about using it kind of as an aseptic hand wash. Clearly, the government is trying to find ways to decrease the expenses that they’re paying in treating patients, not reimbursing hospitals for certain types of infections that happen during the hospitalization.

And again, using a solution like Microcyn in wounds that may have some bacteria present, but aren’t actively affected are the wounds that are infected that you can effectively treat those types of infections that will decrease hospital fees and hospital costs.

Rebecca Smith

From a dermatological perspective, I feel I MRSA and I see different MRSAs in the wound care specialist field, I see a lot of colonization of MRSA. I see chronic atopic dermatitis and end up with inception of it again and again and again, and they’re often colonized in their nose, probably can take the spray and have also gel even, and then have them applied in their nose a couple of times a day four to five days a month and could cut down on the colonization.

So I can prevent chronic recurrence of MRSA rather than the deeper wounds. I do see some deeper wound MRSA infections, boils, furuncles, carbuncles and things like that, and in dermatology we typically will lance, use something topically, often we augment with an oral antibiotic in addition, but I think that this is a wonderful product to help cut down on the colonization that’s out there in the patients that have chronic recurrent infection and even their family members, sometimes we will have to treat the entire family as the kid is chronically infected – even sometimes the family pet, sometimes the dog is the carrier of MRSA, so it could have multiple uses in the world of cutting down on MRSA infection.

Unidentified Analyst

If Microcyn is effective against both MRSA and also vancomycin-resistant Enterococcus, I would think that there might be an application expanding on your comment about pre-treating people in hospitals and especially in nursing homes where C. diff is such a predominant infection that can’t be eliminated from either the hospitals or the nursing home, if it becomes standard of care in terms of not just hand washing, but catheters and treatments that the elderly nursing homes have, this could be a breakthrough market for this product.

Suraj Kalia

So the question is has (indiscernible)against C. diff or C. difficile, is that a possibility?

Rebecca Smith

The question is has anybody used it against C. diff? I’ve not personally used it against C. diff, but I have used it on many ostomy patients, so they get a lot of infections around their ostomy sites like an ileostomy or colostomy, and this is one of the few products that you can use and you can wash the wound, you can use them on the mucous membranes and you can cut down on the infection and you can (indiscernible). So that’s a huge helpful product in that arena.

So yes, as far as using that prophylactically, there are some wound centers that are using it in their staff, they’re having their staff using it intranasally, so the staff doesn’t go from patient to patient and contaminate the patients. So that’s a great theoretical )use and I know that it’s impacted in some of the larger wound care centers, yes.

Tom A. Wolvos

It’s trying to decrease the Staph from the staff. Again it is a purely off label indication, but I think that our people that chronically have catheters in place for urinary systems that are using this to be able to try and sterilize the catheters and reuse them.

Adam Landsman

And again based on your comments because it’s lysing the cell membrane, it’s not likely that it could resist (indiscernible) bacteria and just eliminate it.

Rebecca Smith

Right, they can’t replicate.

Adam Landsman

They can’t replicate. And again talking about mechanism of actions, that shows the difference between an antibiotic and an antiseptic. Antibiotic though certain way in the cell cycle does try and re-install the cell cycle or disrupt the cell and the bacteria dies, antiseptics can work in a more broad basis and that’s why there is a decreased likelihood of the resistance to antiseptics.

Unidentified Analyst

In other words, it is not medical -- they tend to see the possibility that can use the material and ponder the (indiscernible) for air facility, air-conditioning system and deal with comprehensively from the entrance door and second question. If the product is as effective, while I can hear it and had such great advantages, one is to prevent some country (indiscernible), manufacture it and sell it into American drug stores. That might be a stupid question but . I will give you both for the time being.

Suraj Kalia

There were two questions that gentlemen asked, and I will summarize it as best as I can, , one is can it be used as part of air-conditioning system for the hospital in throughput infection control and the second is can it be readily copied, let’s say the low cost environment and we brought over to the U.S., I will let the physicians take it one by one from my right.

Adam Landsman

I don’t have any idea about the manufacturing potential. And as far as the air-conditioning system, certainly I don’t know if any dangers that are associated with that, so that type of thing I can say (indiscernible) surfaces and I think it has been shown to the effective for cleaning surface. So I don’t know if any contraindication is there treating with an air-conditioner system.

Tom A. Wolvos

Again, I think that the spread of bacteria usually is not through the air in a hospital, it’s through contact, so I don’t know that that is a major concern. There is an intellectual property associated with this product, and I think the company would defend that if someone would try and go out and develop the product and infringe on their intellectual property.

Unidentified Analyst

Products being tested on animals, and is there any application of that as of yet?

Suraj Kalia

The question is has this product been tested on animals and that is there any application in veterinary medicine. I’ll just briefly say I know the company sold the ton of products on the veterinary side, but I am not sure who to position this question to because everyone is on the….

Unidentified Analyst

(Indiscernible)

Suraj Kalia

The short answer is yes. The company does not directly sell to the veterinary clinics. They have a partner, and if you go to Amazon.com so on and so forth, you can see the reviews for yourself in terms of the product especially the equine market, okay.

Adam Landsman

Again this is, I don’t treat animals in my practice, but again this is extremely effective and widely used in the veterinary market, and the company that handles that has their spokesperson is the (indiscernible) the who is promoting the product for them. So it is widely used and very welcomed.

Unidentified Analyst

If I may, I have a question for Dr. Smith. Dr. Smith most of the things we see in atopic dermatitis or let’s say dermatology in general, has more of retail mindset. The products are more retail-oriented over-the-counter or whatever. For a product such as Microcyn to be effective at least from an adoption perspective, does the mindset need to move away from the physicians office and you are being the spokesman more so on the retail side or you will think really the physician need to -- it needs to be the physician settings in order to promote the product on the dermatology side, whether it’s for acne, whether it’s for atopic dermatitis, psoriasis, for anything for that matter?

Rebecca Smith

I think most of the patients when they consult us they want a prescription product, they want our prescription knowledge. They come into our office expecting a prescription. I think certainly if the study paying out for Acne, I think you could probably take this over-the-counter and it would be a huge over-the-counter potential product for Acne if that is the way to the future paying well for Oculus.

But I think I would actually be a bigger prescription product such as you would have better studies, you have better data, you have better -- the patients that would come in and get their prescriptions and they would accept it more, and nothing proactive or something. It could be big as proactive theoretically because they can work very similarly in benzoyl peroxide. But I think it would be used in conjunction with a topical retinoid, in conjunction with other prescription products. So as far as selling over-the-counter I think that if we keep it in the prescription world, I think it would be better served.

Unidentified Analyst

And how do you titrate a dose whether it is for dermatology or whether it is for wound care. I guess I’ll start with Dr. Smith again, how do you titrate a dose let’s say pick an indication, atopic dermatitis for a particular patient if you were to do a clinical trial, how would you titrate a dose specifically with something like Microcyn?

Rebecca Smith

Typically, we would either do twice a day or three times a day application for the various indications. I mean we’ve been using three times a day application for infected atopic dermatitis. I would imagine for acne, we would either use it, to give the indication, we probably have to use it twice a day, because in order to get an indication for acne drug, you have to use it as monotherapy, you have to prove to the FDA that it’s more efficacious than its vehicle, and then we probably need to do the study that would compare at something that is on the market and that was widely used and widely accepted, then you have to do a head-to-head trial with either benzoyl peroxide or topical clindamycin or something like that. And so you probably have to do it b.i.d. in that particular setting in order to show enough efficacy to the FDA to get the FDA approval.

Unidentified Analyst

And Dr. Wolvos and Dr. Landsman especially given that people’s wound care practices are so varied, especially in wound care or extending that to the surgical setting, how you titrate something like Microcyn given that it’s so different among different practices, and really at the end of the day, the goal is you are trying to set up a PMA-based trial or a full-fledged clinical trial, how do you titrate a dose like this on the wound care and on the surgical side to get a certain clinical response that the FDA, CMS everyone recognizes that okay this make sense, and the clinician community as large, it is basically a self marketing too.

Adam Landsman

Well, first of all as far as dosing is concerned, this is used full strength, it’s not that diluted and it does not -- you do not need to irrigate it often to use it. So, the question is how often we could use it in the patients, I think it depends on the type of wound and what your goals are, may irrigate a wound and pack it with moist gloves once or twice a day. Again, it really kind of depends on what we use, whether it is used full strength, not diluted, and you don’t have to irrigate it often to use it.

Unidentified Analyst

(Indiscernible) for clinical trial purposes, it is possible to build in an element you look at the dose of effectiveness for the single treatment a day versus twice a day versus every other day, for example, typical dose response in the type of study. So you get that information report. So it would be its own control?

Adam Landsman

We use it as its own control, and then you can also compare to placebo if you want it, although most IRBs which are the Research Oversight Committees found upon using placebo for infected wounds. In our Phase II study, if you look at mildly infected diabetic foot ulcers and the study groups were Microcyn plus Levaquin, which is an oral antibiotic indicated for diabetic foot ulcers versus Levaquin and (indiscernible), and then Levaquin and Microcyn, and we were able to do that type of study, because we monitored the patients very closely and we ended them on day three, day 10, and day 21, and for example, our patients did not look like they were responding to the treatment very early on. We had the option to remove them from their study group. Their safety was protected, but historically, doing antibiotic studies would appear placebo is not readily accepted.

Unidentified Analyst

Results, yeah.

Adam Landsman

And our results were that we were able to establish a microbiologic cure, actually we were able to prove that bacteria died as a result of treatment with Microcyn alone as well as in deeded more accepted oral antibiotic, and it was the phase II study.

Unidentified Analyst

And Phase II study and the end point was what – was it wound healing or bacterial load

Adam Landsman

Bacterial load and resolution of symptoms of infection, which is (indiscernible) discharging, swelling, and pain.

Unidentified Analyst

(Indiscernible)

Adam Landsman

Correct, I’ve probably done somewhere in the neighborhood of 20 diabetic foot ulcer studies, and on average, the typical end point from wound closure is somewhere between 12 and 16 weeks, so for the study that was only 21 days wouldn’t really expect to see wound closure for a study like that specifically to control symptoms of infection.

Unidentified Analyst

Biological bacterial load?

Adam Landsman

Bacterial load and symptoms of infection both that we were able to show microbiologic here as well as reduction in symptoms in the pure Micorcyn group.

Suraj Kalia

Okay. for all the physicians again, in terms of the – just to tee off that question, it’s a pretty interesting one, how would you design a clinical trial or what end point, would it be hard end points like maybe that’s not the right word, but would you use end points like complete epithelialization or what I heard is probably not. but would you use certain other end points, whether it’s inflammation, bacterial load reduction, time to wound closure with something else, or in dermatology, whether you use in acne, how would you really quote in on end points that the community at large will say, you know what, this makes sense, because we design all kinds to clinical trials, but then if not everyone is happy with the end points. In your opinion, let’s start off on the wound care in surgical side, what in your opinion do you think the end point should be and we will end off on dermatology with Dr. Smith?

Adam Landsman

So I guess the goal standard would be proof of a microbiologic care, absence of viable bacteria, that would certainly be the goal standard. It’s in practice, so it’s somewhat difficult to do because cultures can be very susceptible to contaminant, so in order to improve the chances of establishing a microbiologic care, we frequently would do wound biopsy to get below the surface of the wound, even a fraction of a millimeter, the quality of the data improves significantly.

Tom A. Wolvos

I agree, I mean clinicians have lots of questions on wound healing length of time for wound healing, length of time to cure treated infection, the types of Phase II study that Adam’s Group did. I can provide some real valuable information to clinicians, and again, give support of the effectiveness of the product, being ineffective anti-microbial or antiseptic, I think as the clinician, we’d be really concerned about the ability to eradicate the infection. So that is a good goal as far as looking at killing times, if you’re able to get people out of the hospital quicker. there are some studies, it will be showing decreased future operations or hospitalizations in some trials there and those are all factors which we want to look at.

Rebecca Smith

The trials in dermatology especially for acne appears specific, almost every acne trial is a 12-week study, this is what the FDA has set forth and the end points for acne would be clear or almost clear, you would look for any total region reduction count, you look for inflammatory region reduction count, the problem with something like the Atrapro technology and Microcyn technology is it is just an antibiotic, you also mean something that’s going to be a retinoid in this acne patient. so, it should be a monotherapy study was just an antibiotic like bringing clindamycin back to the market.

so, it would be difficult to show that Atrapro along with pure or clear acne, I mean it would easy to use it in conjunction with a topical retinoid, this is what we would do and realize anyway. But you wouldn’t just give the patient a topical antibiotic, say use your prescription and go home, you would always treat acne patients with the topical retinoid and a topical antimicrobial agent like (indiscernible) products or a topical antibiotic, so that the trial would have to have several arms that it will be a 12-week trial and the end points would be clear or almost clear as total lesion reduction count and inflammatory region reduction count.

Suraj Kalia

I’ll let the audience ask any more questions, I just have one and we will wrap up after that. Please go ahead.

Unidentified Analyst

(Indiscernible)

Suraj Kalia

I guess the question as whether there is any benefit for eczema in children using something like Microcyn.

Rebecca Smith

That resulting answer is absolutely yes, anything that kids will scratch, anything that they scratch will get infected, and anything that gets infected, it’s just more, and you’re getting an addition cycle. so it will break that cycle. I am able to use topical steroids in those patients, and for the first time in several years, I have used several months in acne, I’d say, this is the first time that I’ve ever been able to get off steroids for weeks at a time. So, when I added Microcyn or Atrapro to the regimen, it would decrease the inflammation and itching, and the secondary infection and I’m able to use fewer oral antibiotics and fewer topical steroids in that kid, so actually any type of eczema, I have used it on and had success with.

Unidentified Analyst

(Indiscernible)

Rebecca Smith

The question was do they have any application for rosacea. Rosacea is an inflammatory disease. so I have not tried it on rosacea, but rosacea is papules and pustules that are more inflammatory driven and not microbially driven, there is no bacterial component to rosacea, there is some secondary bacterial processes there at play, but that’s more of innate immune system disease process. So, I wouldn’t be hopeful that it would be as effective in rosacea, but I would definitely try it for the papulopustular component of rosacea. There are different types of rosacea, so ones that have the papulopustular lesions would probably – it probably have them more in the network that people have the flushing, blushing, just erythema (indiscernible) flushes and blushes.

Unidentified Analyst

(Indiscernible) Phase II trial on the diabetic foot ulcers, do you expect to extend that to a larger base of your trial?

Suraj Kalia

Question was if we can take Phase II to Phase III trial, and that was the plan, I think it’s primarily financially driven and so whether or not we proceed, but that’s my understanding and that’s the plan.

Unidentified Analyst

Just curious, hypochlorous acid is something to be purchased, anyway really, so how does Oculus detect their intellectual property, is it the formulation, I mean, what is the uniqueness of (indiscernible)?

Suraj Kalia

The question is since hypochlorous acid an off the shelf component, what is the intellectual property fence around hypochlorous acid that Oculus preserves? I guess the best person to answer this question would be Hoji, the CEO of Oculus. So Hoji, I’ll let you take that.

Hoji Alimi

Good afternoon everybody. I’m Hoji, I’m the CEO and Chairman of Oculus. This was intended to have only medical questions for doctors who are not paid by us. they can answer your questions and not IP related, which directly comes to Oculus. So, in this case, I will answer the question. Hypochlorous acid, we get some (indiscernible) that is used on for stands that you develop for product (indiscernible) products are available in the nature. So, the way the company has put patents on this is that the way you manufacture it, the way you provide with those, and how you will stabilize this thing.

So if you buy hypochlorous acid, the way you manufacture it, it’s tolerable by tissue and those we have patents on offer stability, that’s the key thing. The product that you manufacture can be shipped to Beijing, and two years later (indiscernible) I’d say and it is effective as it was on first day. So those things from a medical point of view are extremely cheap, and physicians all want to use the product and from a confidence point of view and FDA or regulatory bodies, they want to make sure the stability and efficacy has stayed.

So, in summary, our patent, they are going to be issued patent. We have over 90 patents pending around the world. Our team was challenged, and it was moving in our favor by thorough courting stuff so we feel pretty comfortable on the IP side, and the IP covers via IP on the apparatus due to manufacture the products, the mix of manufacturing, the chemical composition of the matter.

and then lastly, is the clinical indication with use this compound. And lastly, what I will mentioned is, it’s not just hypochlorous acid, it’s hypochlorous acid plus for example how we manufacturer it into a hydrogel or dip and deliver systems (indiscernible) and so on. These ask to the breadth of our IP, and as the CEO and Chairman, my main responsibility is allocation of resources generally in Oculus.

So my message is what we have in the market right now, we are the first to the market, but competition is inevitable. So what we are working is as Dr. Wolvos mentioned, now we have even a much better, stable, more important form of this product that doesn’t smell like chlorine, does not taste like chlorine, has no sodium or sodium hypochlorite and that’s when it comes to the market and two drug trials. So, if somebody even wants to come and compete, now we have even something better as you come into the market. My apologies, it was not intended for me to be on this call. But if you can limit your questions to the medical thing, I think the doctors are more qualified to answer.

I’ll hand back to Suraj, my apology.

Suraj Kalia

Please go ahead.

Unidentified Analyst

(Indiscernible)

Suraj Kalia

The question is the physicians; have the other physicians are shareholders of the company/. Let me just go first. From my perspective, no, I’m not a shareholder, and I have not been compensated for my traveling expense, I just walked six blocks down, but that having said, I’ll let Dr. Landsman to start off in terms of, if he is the shareholder of the company.

Adam Landsman

I’m not a shareholder in the company.

Tom A. Wolvos

I’m not a shareholder in the company.

Rebecca Smith

No, I’m not a shareholder in the company.

Unidentified Analyst

(Indiscernible)

Suraj Kalia

Dr. Wolvos, you want to start off and kind of phrase the question also.

Tom A. Wolvos

The question is using the product to try and prevent people from getting success or bad interaction in the system and talking specifically about burn wounds. I do not treat burn patients in my practice, but there are people who have reported success using Microcyn in burn wounds, very well tolerated in children that are having to apply some to the skin, it can -- I know one study talked about spraying it on to a burn wound three times a day, very well tolerated, they seemed to again prevent infection that’s one of the many things that you would try to do to prevent infection or overwhelming sepsis and the long-term scarring was acceptable also.

Suraj Kalia

Dr. Landsman?

Adam Landsman

This year, I had one patient with an extensive therapy with diabetic who decided to clean his wound by pouring salt water on itself, and he didn’t feel the pain, because his diabetes dropped the (indiscernible), a burn started an inch below the knee and went all the way to the tip of his toe, and was circumferential around the entire wound with the exception of the salt, and we cleaned him on a daily basis with Microcyn, and he’d survived for over three months before he consented to below the knee amputation, so at least in this one situation that I’ve had experienced with, he did not develop success with a very, very, very substantial burn.

Suraj Kalia

I just have one final question and we’ll wrap up after this. Again, thanks to the audience here in this room for what I would say a very constructive interaction with the physician panel here. Let me start, I know this is a tricky question, so I’ll hopefully, I won’t violate the crowd here. We know there are a lot of structural changes going on in the marketplace. I guess, let me start with Dr. Smith. Would you say the structural changes in the marketplace facilitate you’re using something like Microcyn or you would say at this stage, they really don’t or at least for the next two years that really don’t change your usage patterns, and I will go from there to the wound care guys, and we’ll wrap up thereafter.

Rebecca Smith

I think mine as the fact the usage pattern is going, they want to know about it, because that . (Indiscernible) various different disease states and all of the ways that are creative when used, 34. So I think that from now on no matter how it’s available to me and (indiscernible) me, I will utilize this product.

Adam Landsman

For me, it’s kind of two products in new areas all the time where even exploring, treating fungal nail infections, some are topical. I think the opportunities are in their infancies. There are so many places where bacteria and I think also fungus are problematic for patients, and it’s really a matter of getting some experience and finding out if it is going to work there or not.

Tom A. Wolvos

I think it’s hard to assess how the future is going to go as far as regulatory issues for products in medicine in general. as far as this product is concerned, again there are so many uses, so many people have had successes, and I think one continuing to get the message out to clinicians, and also being able to back up what we see clinically with some randomized controlled trials to confirm that would be extremely important.

Suraj Kalia

Again, thank you very much to the audience here for your participation to those listening us on the call. We sincerely appreciate you for your time. hopefully, there are a few key things you all have taken away from this interactive conversation about what Microcyn has to offer. Again, we do appreciate your time. Thank you very much.

Operator

Ladies and gentlemen, thank you for participating in today’s conference. This concludes today’s program. You may all disconnect. Everyone, have a great day.

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