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TWST: Would you give us a brief historical sketch of the company and a
picture of the things you're doing right now?
Mr. McGrath: PhotoMedex is a NASDAQ-listed company that manufactures and
distributes medical devices and specialty pharmaceutical products. Our
focus is to put cost effective technologies into the hands of doctors,
hospitals, and surgery centers to improve patient outcomes, thereby
providing them with a better quality of life. We operate in five
business segments, one of which, our XTRAC Dermatology business, has
received quite a bit of attention by the investing public. The XTRAC is
a laser-based UVB light therapy for skin disorders. We employ a very
unique business model with this technology; we place the laser in a
doctor's office free of charge and then bill on a fee-per-use basis.
This strategy meets the dermatologist's demographics and also creates a
recurring revenue stream for the company. We have been increasingly
accepted among insurance reimbursement carriers to cover the cost of the
XTRAC procedure for psoriasis, an inflammatory skin disorder that
affects millions of people. TWST: One of the other diseases is vitiligo?
Mr. McGrath: Yes, in fact there are four skin conditions that are
therapeutically treated by the XTRAC that have received marketing
clearance by the FDA. First is psoriasis, which afflicts some 7 million
patients in the United States and 2%-3% of the worldwide population. The
second is vitiligo, which afflicts 3 to 5 million patients in the United
Sates and 1%-2% of the worldwide population. The third is a condition
called atopic dermatitis (more commonly known as eczema) that afflicts
about 15 million patients in the United States. The fourth XTRAC FDA
clearance is for its use in treating a condition called leukoderma,
which is more commonly known as scar re-pigmentation or stretch marks.
Tickers included in this excerpt: PHMD
For more information call (212) 952 7433. The
Wall Street Transcript does not endorse any of the comments made by interviewees, and does
not make stock recommendations.
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