Patrick F. Williams, Senior VP and CFO of Zeltiq Aesthetics Inc. (ZLTQ), said the company has raised its 2014 guidance for revenue growth to between 43% to 48%. He was speaking at the Canaccord Genuity 34th Annual Growth Conference, held at the Intercontinental Hotel in Boston.
Zeltiq is the company behind CoolSculpting, a non-invasive, body-sculpting and fat reduction aesthetic treatment. Williams says the process works like this: an applicator is applied to a patient’s body over a 60-minute period to generate cold that will freeze fat cells. The fat crystallizes and over 60 to 90 days, the cells are permanently destroyed in the target area of the body. The technology is FDA approved and has been around since 2010.
FOR THE LATEST TWST BIOTECHNOLOGY REPORT, CLICK HERE.
The treatment is sold primarily to a core of dermatologists and plastic surgeons, but some stores devoted solely to CoolSculpting treatments have emerged, Williams said.
“We still believe we have a long run to penetrate this untapped market,” said Williams. “CoolSculpting is the gateway drug to aesthetics, having the ability to draw new people into the aesthetic channel. We are creating the market. There was no such thing until we came along.”
Williams said the CoolSculpting technique will be used on approximately 150,000 patients in North America this year, with 2200 physicians worldwide currently using the system. There are two revenue streams: the CoolSculpting system sells for $110,000 , while the consumable products – gel pads and gel liners – sell for $125 for each single use. Practices typically mark-up that cost “five to six times,” Williams said.
A new management team took over at Zeltiq last year. The company has no debt on its balance sheet, Williams said, and is focused on expanding more internationally.
FOR THE FULL PRESENTATION, CLICK HERE.
Patrick F.N. Anderson, CEO of Dalradian Resources Inc (TSA:DNA), Presents at Canaccord Global Resources in NY
October 17, 2014
Henk Derksen, SVP and CFO of Belden Inc. (BDC), Presents at Canaccord Genuity Global Growth Conference
August 15, 2014
Bruce R. Wright, SVP and CFO Ultratech, Inc. (UTEK), Presents at Canaccord Genuity Growth Conference
August 15, 2014
Steve Skaggs, SVP and CFO, Amtel Corporation (ATML), Presents at Canaccord Genuity Growth Conference in Boston
August 18, 2014
Mike Herring, CFO of Pandora Media Inc. (P), Presents at Canaccord Genuity Growth Conference in Boston
August 18, 2014
