DYAI - Earnings call transcript Q2 2020 | Dyadic International, Inc.

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Operator

Good evening, ladies and gentlemen, and thank you for holding. Welcome to the Dyadic International’s Second Quarter 2020 Financial Results Conference Call. Currently, all participants are in listen-only mode. My name is Jerry, and I will be your conference coordinator for today.

As a reminder, please note that this call is being recorded. would Dyadic’s turn Chief I to call point, Rawson, Ping Financial this like the to over At Officer. Please go ahead, Ms. Rawson.

Ping Rawson

Good earnings Thank second Jerry. evening, welcome and you, to quarter XXXX call. everyone, our

today’s International’s to business Our press issued research and today. Dyadic’s the Form Dyadic’s SEC press The give XX-Q quarter quarter and will will a development of the results On more review financial on our a review X-K Report Emalfarb, results our efforts. a and earlier accomplishments Mark Form second in corporate second call, of detail. of release Quarterly brief release and CEO, for summary and was I XXXX including have XXXX, our with financial Dyadic President with of on been website. follow our business posted

be provide Matthew questions. this you and forward-looking uncertainties, by At different or may any then considered to that would and to will join Jones other to Dyadic’s those law. be required conference to statements, cause results, to like from intent scientific statements. and update you these Dyadic and obligation this answer involve with statements, or opportunity Mark made Tchelet expressly or forward-looking in your certain questions. commentary will implied I I as or an achievements ask could by performance, expressed which call otherwise, We forward-looking except risks actual factors materially time, disclaims that Ronen any inform

turn that, we ended XXXX, in the in XX, XX-K Report as the refer to in Mark. to Form materially for Annual cause issued to results release With be please can from SEC when found XXXX, our Mark? the and factors available. Quarterly on the section ended Factors. Risk different forward-looking information may that on for more press the well be our I’d statements, other particularly This XX, year risks today as about filings our titled December Form June actual call quarter like information For described the over XX-Q Report with to

Mark Emalfarb

you, safe progress terrific fronts quarter, in pleased on our second Thank are difficult further hope adding for Welcome, new and of quarter times. human second by and during family multiple that you our advancing growing made conference report diverse I both the and these thank in and fields. you that your we I’m and the Ping. call. to opportunities have collaborations joining health top-tier animal strengthening everyone, portfolio

reach scientific while commercial exciting growing continuing progress. and markets, report in and We’re large addressable expanding to new our data and

added company reinforce collaborations of of to are high well as inclusion COVID-XX the in continued goods. in and cost has opportunity visibility growth productivity low broad broaden base. We our Russell pandemic. the The investment our some the key recent potential our the of to These our XXXX attributes, involved a CX in of providing technology, community shareholder us indices, our further XXXX with developments the and combat its number including as helping of application

for and us, remains to been remotely. have or and by partners, world our by response necessary In best-in-class number measures of and potentially fully significant employees, R&D who, team to energized objective safety have our and highly the high-return ongoing the by protect pipeline opportunities partners projects. to part, around most we taken teams partially the health management funded COVID-XX, lab working available Our our the diverse our collaborations, partners supported of scientific

conclude development would our ability on most of on and provide today. with Tonight, some that way fortunate progress. in are the conduct we color daily COVID-XX statement our I scientific like minimal work, our recent beyond company’s to and accomplishments on filed S-X changes impact We we had some those has business comments to the registration continue additional the and

human and and business research as are opportunities, funded advance health, the diverse to for to as develop with well health two diseases. animal and the for serving. their of animal two number we fully as further expression into CX health, of grow companion technology in markets of we continue proteins into the of a companies, entered of infectious We and platform technology production portfolio designed our different new entered collaborations animal animal In platform funded improve we farm needs health and fully diseases. demonstrate collaborations We leading CX the our to meet

animal months. into with fully We for XX entered will this collaboration four growth a the top pharmaceutical been Human health. steep of as funded agreement, past trajectory as with of one the health two therapeutic different five working entered human compounds. types expressing health animal Under global Dyadic another global the We all R&D the companies health. now well market be animal global of on a another over companies, are in have health We top company. XXXX,

which to we to our and program, with and In follow-on collaborations. are hyper the express is per certain our were successful additional we discussion in ZAPI productivity current to a antigen, approximately research another potential and biological milligrams was the high at express with antigens including were threats. Sanofi to may example fund baculovirus future number that discussions of antigen CX’s new antigen pandemics addition, of X,XXX unable pharmaceutical this In continuing be other ZAPI the RVFV combat express needed companies, difficult to that other expressing in diseases. an This biotech Infectious liter. stably. levels, reported

which fully development, which research resulted a at newly earlier vaccine of a has stably In various week. in protein stages entered COVID-XX. opportunities into University and characterization. vaccine COVID-XX ongoing will of addition, with this are for number their evaluation the collaboration company of further Samples expressed be collaborations sent Oslo our influenza University. globally, have Oslo to The HA in including funded certain collaboration protein have successfully we this

neutralizing established with the certain animal with and is of RBD against from University regulatory of a RBD, cell SARS-CoV-X programs. the CX-expressed they when express the vaccine express industrially A Institute are adjuvant global CRO, being to high-producing titers. I’m gene stable And the Center; potential months successfully two anticipate trial COVID-XX an platform a that February we to on Israel our IIBR, trials scientists Dyadic collaboration an plus second collaboration CX-expressed has begin in expression approvals Erasmus from expressed of expressed the CRXO, The candidate we They EU institutes mice IIBR SARS-CoV-X announced sequences As outbreak month proud expected candidates. the start Medicine RBD of the Medical been COVID-XX in and recombinant vaccine European started the using the protein candidate number working their with the protein, that say a expanding ago. model in University IIBR that by for will we originally generated in gene the Utrecht; this CX the hamster approximately animal hamster high and CX are receptor joined we’ve via TiHo; which received to IIBR, the about CX the Biological with to proven Accordingly, forecasted. studies the Research, domain, Syrian Hannover; XX, start than waiting vaccine as shortly. for antibody coronavirus we vaccine their for of gene the reported efficiently fight golden study. IIBR global lines explore to Dyadic’s used to to sequences, the earlier reported Veterinary binding spike both of spike

the other RBD by As Both the reported the research National enable biomanufacturing Center but regionally collaboration vaccine Frederick and candidates, of to variety the week, interested small, in produce vaccines previously, this will Ufovax, as engineer data, be Earlier human Diseases, we SARS-CoV-X initial are may Scripps protein a by research of infectious at another and in on Institutes are Vaccine Dyadic’s even used making National National has also the was of in in of or This a Frederick the drugs the date, spike drugs to COVID-XX their Laboratory technology certain beyond diseases opportunities. help access which National COVID-XX, to to earlier utilized spinout, and potential to to Research certain a the of drugs funded CX the along for we the vaccines proprietary to potential patented cell and where expand expression and Frederick provided Laboratory well-respected the evaluation to for CX-expressed company other Infectious world and available vaccines has to company NIAID, as stability with working in may with health country, of selected biotech National number programs Allergy other the results CX vivo promising Institute beneficially promising remote Research Based help of of production and the SARS-CoV-X well samples fully manufacture others, a Laboratory with and Ufovax and affordable. the and that and develop the be and vaccine collaboration, but of areas potentially lines antigens vitro entered development. stages into applications. excellent combat Health. and company more that

other lead discussions program. to several partnerships biological infectious diseases, other COVID-XX, in companies globally for are with future opportunities Glycoengineering related and potentially epidemics We could that to pandemics, outbreaks.

used we human-like to CX and with cell monoclonal program, For a have such be produce glycoengineering GXF. antibodies and GX, self-funded glycoforms, proteins may lines as that GX, GXF other generated

protease XXX by working in strains. CX strain now fiftyfold more lower of We’ve glycoengineered protease the XX deletion or non-glycoengineered strains. activity generated the extracellular leveraging the in a in the protease with are background CX CX We one reducing on work

million Commission a future more on in on statement drugs, higher Form CX filed development with up stable commercialization. eventual additional of $XX Securities and shelf leading for collaboration, and Today, drug stock. common order FORM to generate amounts of lines, Dyadic Shelf-registration to registration statement the prospects production have developed cell Exchange the of and with of us for offerings Dyadic’s vaccines to further S-X S-X. providing We a

an common business to it through program million. shares agent. plans. stock sheet for Dyadic cash near- from with and position and The aggregate offered addition, be balance of In capacity under established sales sell time of shares our ATM The at-the-market its LLC, continue $XX its longer-term to very time gross as are which offering will offering, proceeds adequate may resources financial company’s Jefferies which in strong, act will

to statement place, should which believes provide order company will it’s effective to prudent an opportunities to the management in access in respond to to business I review arise. However, they our the quickly with With that, have registration results. call over future turn markets Ping quick the capital will financial to

Ping Rawson

Thank you, Mark.

$XX.X approximately like investment-grade million in discussion, and with Dyadic’s few provide to no begin with position I’d strong my highlights. you a business interest financial accrued I debt. with and financial including cash Before securities, remains key

higher at for cash Our currently due balance quarter-end interest investments. to is typically report available the than rates low we

the detail. $X Our now to with quarter quarter months in for and We $X.X respectively, cash discuss in cash six will compared at line million, quarters. approximately XX, XXXX. equivalents the December million $X.X I and with $XX.X and was results million, operating previous our ended burn greater of million cash

accrued XX, the including at million, XXXX. to securities, addition, million of at value approximately In compared $XX.X was XX, carrying December $XX.X June short-term XXXX long-term investment-grade and interest

increase $XXX,XXX XXXX increased quarter three of increase development the Turning increase $XXX,XXX the the nine to XX, increase a XXXX. the to one for cost compared XX, collaborations the biopharmaceutical the income development XXXX. XXXX approximately and ended to the increased in primarily to decrease XXXX research ended There reflected research XX, ago. year projects. no to June cost months for the G&A period ago. decreased approximately June to the in XXXX, and Research BDI and with completion three $XXX,XXX, ended of research internal a quarter for compared period three same provisions for of XX, $X,XXX,XXX, research research research same were research contract year June $XXX,XXX for and due the June the development XX, compared for The service development related and approximately the party for expenses cost was of quarter the collaboration additional ago. and the to of agreement June for months project. XXXX. the XX.X% an June reflected of $XXX,XXX costs expenses months activities by quarter expenses share-based principally $X,XXX,XXX, losses in non-cash $XXX,XXX, of and revenue expenses compensation period investor to for to ago. The for same XX, executive The expenses four and for compared accrued The compared service ended a uplisting $XX,XXX, to to the ended approximately of costs, for same ongoing year of outside compared $XXX,XXX, collaborations offset ended in revenue business travel of $X,XXX,XXX costs second for premium a in and approximately statement. development including incentives period reported $XXX,XXX, compensation June We legal quarter The Research year and in revenue revenue reflected reflected $XXX,XXX, $XX,XXX. reductions insurance NASDAQ expenses increases decrease development relations of the

period $X.XX or approximately same income share interest The The or net on the ended Our year XXXX same $XXX,XXX, $X.XX decrease low company’s $X,XXX,XXX, due the to essentially compared per for ago. approximately for securities. the investment-grade reported for $XXX,XXX for primarily with XXXX and of the yield period a quarter June was million, was was interest three share, to flat ago. months the XX, rates a loss per the year $X,XXX.XXX second

the and are party period provision ago. to development to in the G&A $X,XXX,XXX BDI ago. for were XX. biopharmaceutical $XXX,XXX, the research XXXX. the XX, to year with in decrease $X,XXX,XXX revenue for same development six to expenses six agreement X.X% first ended $XXX,XXX, NASDAQ accrued non-cash same $XX,XXX. to of ago. relations expenses for $XXX,XXX, approximately we a $X,XXX,XXX, for was June the a months collaborations mentioned months six Again, related first and The compared year and XXXX reflected period compensation months for ago. of reductions collaborations year six research and The of the compared months investor activities of offset legal the development incentives for reflected costs research same seven of XXXX. research Research of increased previously The June XX approximately looking the $XX,XXX premium insurance $XXX,XXX research same increase months XX, period contract ongoing The at and there to one revenue cost again, to for collaboration the months $XX,XXX, compared XXXX, business the $XXX,XXX Now for June ended six in by for and cost R&D expenses reflected compared compared no in of executive to costs increased year ended of approximately June the increase to a compensation project. losses a due development period the revenue increases approximately principally and of other six in $XXX,XXX, in of share-based service decreased decrease completion, $X,XXX,XXX, uplisting expenses and increases

investment-grade primarily that, $X,XXX,XXX, open approximately for ago. income was call to compared to for Q&A. for the to back $XXX,XXX, With interest operator, up will our I rate June decrease yield six six interest or XX, to year flat year the net the was period approximately with $X,XXX,XXX, ago. same share, Our same lower months the a the period $XXX,XXX and months ended due the on ended for $X.XX was Again, The Jerry, the June $X.XX XXXX the company’s securities. XX, share or reported for XXXX per a per loss turn

Operator

you. session. this we’ll first be Instructions] question-and-answer sir. a Thank ahead, question Please [Operator from At go Research. John conducting Vandermosten, time, Zacks is International The

John Vandermosten

want that a structure Thanks your you Thank stage? the that? I take that specific might and next royalty the sense clinic you, it of something of a there you’d to partners type for the my to you’d like and to afternoon, questions. the is larger for But take for to deal milestone What commercialize. want things might get to There’s look of of one to everyone. normally with look how taking intention parameters some good any CX with upfront deal. that be in

Mark Emalfarb

actually party Well, I we’re that any Israel is. is that a to is versus group government party parameter the a think, the virtually based pharma scientist of big we’re the program type or open company European If embedded on who with. the of

looking I, III, pharmaceutical do have and have get be a so continue Israel, Phase with into once that trial agencies that would a that funding us hamster done then from they and in be data partner. to funding an to up be the start. now we people promising trials II is the into, on then company, as from the And key they’re month, be now get – Phase then the this mice will to we HHS, within they and we royalties we for Phase some other same possibly the basis, and the milestones and or help to So to governmental upfront animal and have data if hamster that’s the about ongoing pharma as a in here cash finished, results going going on believe, will with And trials. European thing I waiting look BARDA lined discussions

approach, So animal most approach we very do doses of that in But what now seemed we in were is mice. of data at aware as planet. an in to programs taken developed data on involved our that very, the ZAPI important. and institutes and approach in else particular delivering read scientists advanced all we’ve by very going make to And from what anyone well and those that efficient we’re very other the very was that good we with people candidates, based over that effective we’ve and two vaccine apart performing are European be affordably or originally can better vaccine. billions the we’re similar have based seen vivo is And vitro instances, on a confident from on be

that help out will hopefully, So there.

of you names a lot might of parties, in of. motion have those we So of including be the a that’s conversations things that with aware some big lot and going – are

John Vandermosten

with that, leader been animal category they for the great of side. And a ahead me, big can Thanks just who give health, or regulatory is for now? I’m get the How a it’s see pathway Dyadic. market approach? faster to deal interested are And point to that you closest information go is commercial-type there Or into what decision about the Okay. kind in is on Mark. a a would to to who thing that’s got make where the – they right whatever –

Mark Emalfarb

global planet, top the we’re of I with in had and companies dealing mean, just fifth then Well, started. the four all health another right,

of them just going. got So two

– time obviously, been company they’ve we’ve And ahead a animal that of us them, data. got three they’re other for one having certainly multiple doing The products that is long, terms express. long and in of health

early towards So year, we will commercialization. studies this year into hope of that that the sometime more one those animal or products next late move

So that’s more that forward towards expect when late we move early those or or of QX. companies to one this commercialization would year

John Vandermosten

up Okay. needs over ATM, Great, that fund? the way cash changed? a you pick Have And great. behind Or to that? And how to time. great what’s that’s do using capital envision

Mark Emalfarb

Yes.

allocators across diverse because and So we health, demonstrated a both And health. that largest I’m COVID-XX very I’m portfolio mindful for robust we shareholder, strong as you are glad ownership a know, have and we’ve you group of of us. of continue a in as that any to opportunities, human our dilution markets, the capital disciplined all building question, asked of of animal sheet balance

the growing our company. to has opportunistic of So been portfolio of one approach building the cornerstones the – however,

while to us So arise. maintaining the financial future as flexibility opportunities place to opportunistic, may S-X remain business really just is in allow

opportunity for we do there’s So be to ATM the that something that place, value. an fact that I in would sense so an shareholder makes used, wouldn’t unless take have

variety I and use it been seems had believe, not seems to that we just So bankers, Jefferies know, us a from necessarily pursuing put place have it it in a to smart not for, that to of was don’t quarters, be, us to thing it several that flexibility it. give we

John Vandermosten

buying wasn’t stocks. Okay, were you it ago Yes, when long great. guys actually that

thank there that need sense for taking you, Ping, a So and well, perhaps. questions. Mark, was that just for you, And it’s – arises my my thank unexpectedly

Ping Rawson

John. you, Thank

Operator

NOBLE Capital. a We question Please sir. from Demir, ahead, Ahu go have

Ahu Demir

and want ongoing the decide my portfolio. to to you terms? very you question the data carry CX ask they that do to on congrats on And if you advance you Sanofi, do in pharmaceutical of not from much quarter. to I technology, have? successful my Thank partnership another or for not the Can that questions, based How many plan terms partnerships taking first disclose partnership project? the on do

Mark Emalfarb

Yes.

the chime First business of all, up? that can sort answer then of one you pick development want the Matt question, let and guy Matt, let is me do in. because I to he

Matthew Jones

number have so sure. collaborations. a Ahu, of Yes, obviously we

kinds list Mark of As each mentioned, names. But all enable different those, important for are the all is already to trying we thing don’t the they conversations. that of

we not we’re we embarked us massive great conversation, it’s health programs wider in one-trick R&D pony, of difference agreements, make of massive expressed Under on difference We a collaborations with very forward amino human pharma we really funded where We’re types a too. put very top COVID that of compounds a series can. here, passionately XX we sequences, believe those right? can So global are different that top and number here, and The look reporting has to acid a programs. those XX, companies. fully

conversation we our stakeholders course, to we the or partners. of future, certain to Where that’s on that. data filing discussions. it near around look there’s Your with how of and these sides, then, publish that the kinds Where Sanofi we sets, encouraging would do both are that have do question in sense look a regulatory we to on promote makes we

– of biotech who also of to familiar And, cautious the publish. efficacy data powerful, obviously did might have CX. PEGS with opening CX on those – very of it’s course, appreciate, our shows in very and from this pharma, with of previous can We powerful very a on we sort not companies passed data the is this we say that, number present agree impossible showing from you’ll expression. call and as or as publish What influenza statements, very But announcement. are his very just Mark jointly to a – I’m conservative conference, said certainly, guess naturally that’s which you big if

to are there pharma times where for of of me wrong perhaps to so be that. that And but do reasons, certain sort chooses second-guess it’d big

always by distracted not though that. We’re

finding with Mark that’s that’s human institutions collaborations. of But fast, these course, and But, conversations we’re expression with on a foundations, the associations, look earlier, and we’re those as quite with part focused opportunities. the needs. we’re not unmet pharmas said We’re our big of with to. forward animal rightly participating need need more That’s massive also whom vaccines. to plays that there’s strongly, can of fulfill. And And biotechs, a deliver we CX here to more and find health of and government-granted collaborations and where doing all system reduce CX including most goods academic at moment research allowed the just really to unmet so, really what focused cheap powerful, where on to cost widening

Mark Emalfarb

not, the top if or XX, those or and back more. by to confident opportunities Ahu, you, it. of are the and to honest we at mean, up, that are year look with pretty some a But QX. end two believe there’s have to now we’re pick of that of in to been some come ones have I again, And besides multitude the be the three in we I’m going involved

for We’re still Sanofi. waiting

we the that. earlier, As They’re mentioned they pandemic. in involved have

might anybody bring they have Europe, us molecule familiar molecules discussions have which with in forward. those try break potential on to ongoing them that. or that’s we make with it’s and But Now summertime

summer of that expressing biotechs. it’s those people discussions. just are And a now stay and And to need time. QX. late be it’s having a small eyes well the move were there. forward But sort on seeing of variety fit to on successful dribble hope doors a we proteins back other when to may opening and just I would And of or would may just the those how down So the a of evaluating say, now us answer QX, as on. come not in people at lot the very break process. I get change and not adoption them let’s And what and that And vaccines. their early biomanufacturing COVID-XX and in sometime, that what a to There’s to for we companies from that And pharma say have them portfolio big now program. of are in lot and now recognizing would pharmaceutical pandemic, And program we products weakness I some in We the what it’s matter they’re expect now they going is there and people – industry the use. tuned. the think, to amenable into we’re that being, where change. speeding more say and

Ahu Demir

corona and vaccine My Matthew you, Thank the side. on Mark, for clarifying that. follow-up question be will

I if it we of of of those perhaps. in-house we collaborations timeline? this expect And more you develop the looking any have these any five Would are and wondering be end that’s Or to also, at And what to year next see have vaccines. collaborations? expected was efforts year? You expand to are any when do currently stage data?

Mark Emalfarb

of involved the deeply at IIBR the involved CX first our and it’s – European Well, all, Israeli – sequence those also or platform used are that’s there. our being and gene

in the where infectious a and just I involvement host. Research of for with trials. do, Nature Center results. deeper during people We’ve of done domain who on experiments. that done the in magazine example, their Ufovax, the mentioned came other good on the Frederick call, expression And, course, we SARS-CoV-X Vaccine IIBR in and it’s The their protein, the those spike has seeing the out had are National good very than gene mice sequences. Lab So as are have and the disease, and in preliminary of But data experiments, sequence NIH in other we very, vitro gene reported we case the we receptor-binding vitro much we’re

candidates the Frederick to And the of our we candidate product already CX, very cheaply, at what have, the the product, commercial National that, that, so think would them right and flexible globally the because to Laboratory, such the RBD-expressing for scale. vaccine lot for actually compare candidates it look that producing own quickly, VRC we’re levels of call vaccine of explore and a and for right sent against is them they the we because it’s actually make very in samples we And can right candidate, – we high efficacy.

that we that another So multiple discussions about that, product we’re people or that. will way expanding in with mentioned, we’re or advanced one maybe we one the believe itself And already of as with. get from others working

I think that this away. people to have going isn’t pandemic coronavirus realize

And own players some same They it their they, the same genes. early sure, and at of put They maybe not same their the cost. systems. quantities may can’t give the picked for into make the potency,

So we’re to we the that good ones about all some already and about on public. sit of give insight? we’re the And talk feeling working where maybe, want that in to Ronen, at little a are pretty opportunities you addition or that

Ronen Tchelet

that ready we And we having continue now the antigen to for what I Yes, that we’re the that that we good results steps. developing, having see RBD of be and next Hi. the think more developed, it protein. is and we’re hopefully Yes. it are could that qualify spike we

So are animal now doing studies. we

continuing show results qualified And And are good further interim effort the so to to forward and the steps. we this far, results. looking with

giving was we quality. RBD by so high the think we produced what that is see productivity And and good far, so CX, that far, that

see now far. other quite where for actually But So it what the how And really we And companies benefit are will is further. road we we of to also we developed – about see be the not are CX. the of will realize is obviously, and so this looking are end yet. excited this hope that we

Ahu Demir

for very much you Thank questions. Okay. taking my

Operator

a [Robert [ph]. Performance have We Center question Smith, from for Investments]

Unidentified Analyst

Thanks Good afternoon. for question. taking my

So actually yes, Mark, true? was not I already. that thought was into hamster That IIBR studies

Mark Emalfarb

is And population vaccine. to carry initially obviously, as to that and quicker, or of Well, a vaccine. the as satisfy vaccine may faster, vaccines. want our IIBR theirs. forward Israel they of two may well extra the potentially at higher viral obviously us, they the may and advancing, reporting they have the of and moment, what we produce, their vaccines potentially much viral IIBR along vaccine from dramatically They much from our for they produce started out But cheaper that doses much the is have with a not different own CX current with can allies amounts, can understanding,

what that’s So hamster they initially did models. in

them there. mRNA up And in with be now, but get certainly running, you potent cost confused the so can the the with as to vaccine not that and probably quantities somewhat can’t – Right or are flexibility they that’s the you’re viral or quicker and and the make you may CX where CX.

Unidentified Analyst

you I follow. clarifications. Thank the for

term. So Sanofi in you nearer said expected by earlier the in calls, some you decisions

we with that? So where are

Mark Emalfarb

Yes.

with summer have As a interest even earlier, mentioned we with And in in break, moving I had discussions you’ve forward. pandemic, business the take They’ve expressed Europe, those pandemic ever done they breaks. them. and if okay, in

out in if chosen in It with into that And and commercialization. QX. candidates candidate so further, CX us, might they’re but to R&D, that clinic just towards want more think, even stretch not potentially back stretch hopefully is to and we QX, could going they to we move can or one in produce sometime come to the

clinical that we out and and we candidates to experience and in best to trials pipeline success types trying towards the to have commercialization. CX their to the how in classes and a multiple fit the trial proteins that when move and that clinical or might of expressed use potentially towards what had figure So preclinical they

hopeful very that candidates or get we’re potential moving one to CX of from Sanofi. still we’re forward more into So going those

Unidentified Analyst

there of the the is more – end quarter realistic? the year? first of XXXX one the have before vaccine of product to with of a possibility Or collaborations Is a Yes.

Mark Emalfarb

don’t Well, have or got – going we they the through to in – difficult, those clinical very it’s with these year and of standpoint, go of in to do by any going things we certainly from And year be vaccine those make. product we next trials. they’re what any at middle final this case, out because commercial earliest. done parties because even going the certainly end control to the But decisions of won’t the a timeline aren’t to of own they’re what our as a and

Unidentified Analyst

Good you ahead. luck going right. very Okay. All Thank much.

Mark Emalfarb

Thank you.

Operator

turn call I’m showing at go to And further no Emalfarb the back now closing time. will ahead, remarks. questions Please sir. Mr. I this over for

Mark Emalfarb

discussed today and these many employees both want during difficult and business accomplishments we’ve our the partners, all our for highly effort, coordinated is I a times. them and Underpinning extraordinary Right. and of among scientific collaborative to efforts thank their

baculovirus all. medication our we thereby expression goals. this to Our CX making than you, other accessible us platform, our CHO, platforms, respective and support the more dialing of and development affordable for gene our many which more including stay ongoing faster your of believe goal appreciate achieve globally and enable cost-effectively safe. and that help and to collaborators will and industrially today, and efficient everyone, in remains the We biopharmaceuticals, proven is manufacture Thank

Operator

Ladies and gentlemen, teleconference. this concludes today’s

your participation. thank your lines, you and may You for disconnect

Dyadic International (DYAI) 15 Aug 202020 Q2 Earnings call transcript