DYAI - Earnings call 3 2020 | Dyadic International, Inc.

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Operator

Good evening, ladies and gentlemen, and thank you for holding. Welcome to Dyadic International's Third Quarter 2020 Financial Results. [Operator Instructions] My name is Chuck, and I'll be your operator for today.

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

Ping Rawson

SEC the Chuck. third XX-Q been quarter you, Dyadic The third results press the Good earlier Form posted was press quarterly evening, our to International's report and website. financial XXXX and welcome release and quarter company XXXX today. have Dyadic's and with highlights issued everyone, release Thank recent X-K earnings Dyadic on A call. Form on to

opportunity Mark Emalfarb, our On give our XXXX, today's efforts. and CEO, and Tchelet your our for call, questions. of I financial and review in of will accomplishments follow including of business development answer third We'll review will our and summary will I President with a of Matthew business research to more a results corporate a Jones brief quarter and ask join to questions. with Mark Ronen then our an detail. provide you

commentary you factors that At this which other and and time, Dyadic's expressly obligation certain forward-looking uncertainties implied considered except may involve scientific I'd achievements those any or this materially statements. by to law. by required inform as to or disclaims risks Dyadic these statements, different or could expressed intent like update that call be conference results, made any performance, forward-looking statements, actual to cause from be or otherwise, forward-looking in

report the risks XX-K quarter for issued results can in in cause XXXX, titled the well be particularly Factors. the on annual September to in with quarterly year SEC as forward-looking information report ended our XX, may when For different about XXXX, press available. December please on for actual to the today that ended found more filings This Form Form Risk described other section we XX-Q factors be information XX, as the and our refer statements, materially release from

Mark? to to turn the call I'd Mark. over that, like With

Mark Emalfarb

Welcome, has conference are Ping. harm's and that joining third for are quarter your you, family and way. Thank staying of safe our and hope to business I and year for This closer collective everyone, call. produced healthy very and you thank Dyadic. you scientific out meeting us results a And has has our be and gotten and to been QX objectives. exciting continues

to continued into improved expression We with efficient safe properties, system our proprietary impressive results. scientific advance CX platform gene expression a and

engaged expression goal business continues Our development grow and collaborators, we of both the with pipeline will the use believe platform interest previously toward new commercialization. gene additional CX our to from adoption accelerate and which of

we and In our and addition initiatives, to COVID-XX expanded collaborations signed companies. health human X new animal with

capitalization we market the with leading are global agreement CDMO. Pacific by our signing pharmaceutical Jiangsu of region company previously and with research Biologics, announced nonexclusive largest in expanding our Asia in research collaboration China a Hengrui presence collaboration the the Medicine, WuXi with Additionally, a

agreement The highlights CX's and value drugs Medicine biomanufacturing for of demand vaccines. biologic address efficient potential more proposition to with processes Jiangsu Hengrui

and funding, expects and Dyadic their agreement nonexclusive CX and effective. This potential safe develop affordable, Dyadic's a protein. how collaborators antigen are spike drugs of that globally manufacture demonstrates SARS-CoV-X basis RBD agreement and expressed can regional vaccines the on clinical in produce after of at required India to Biotech who technology October, Epygen In facility India, a obtaining cGMP trials into using material trial with entered conduct

June, National to which we expression will to others. anticipate And up with are groups, showing for XX data. X we With by announced shortly and Institute addition or completed is ongoing Frederick that Laboratory the to University, ZAPI among from scientists; our Israel in the Research, animal after IIBR; is be COVID-XX currently encouraging programs, that trials scientists Oxford This working including respect in we year-end. project Biological European the

the trials and be be best studies. trial generated HX forward will to evaluate We data for humans. hamsters animal the clinical with there path to including transgenic anticipate Importantly, potential mice, additional challenge in mice,

results CX RBD. SARS-CoV-X mice from a further study expressed Interim supports recent the additional

generating has In high cells titers the a COVID-XX addition very response antibodies excellent inducing cellular to responses neutralizing immunogenicity potential virus, it the and virus. SARS-CoV-X against immune memory with to a with stimulate human also

expressed We antibodies those CX diagnostic evaluating vaccine protein are expressed and samples applications. for and in to SARS-CoV-X for have interest have discussions potential with provided in express in certain parties to who use additional CX for

mentioned, we all to of Rift of into health they Valley fifth that therefore, reported they with animal results that additional animal Fever, X continue challenge company previously readouts been anticipate a ZAPI more as we evaluate are antigens certain reported analog studies. very viruses. go leading working it promising in end studies to as XXXX, health move the health will which commercialization. CX. signed will The of animal and will one we agreements XXXX. SBV, we have funded on products RVFV before And is year with will As global from for expected start Schmallenberg, in work and if well or programs fully the towards has animal ZAPI both the successful, have the companies animals, conduct to on expected in our

have In we with for be beneficial proteins cases, to the our and quarter. signed which they our health global some On identified efforts. CX these the beyond and X could their collaborations side, new pharmaceutical specific companies proof-of-concept very expanded believe we moved collaborators technology of during stage, commercialization have the human

anticipate companies, funded research research agreements other top-tier we pharmaceutical In to various fully in companies addition global funded that license collaborations fully negotiated additional of will X and/or collaborations terms. stages global with today we lead discussions into potential to entering with are with human pharmaceutical health

developing make proteins. and The manufacturing to in in and potential antibodies therapeutic use company its its of terms continues lines in of productivity gene and the of CX CX platform cell expression to for and its the stability glycoengineering monoclonal vaccines, broaden nonglycoengineering applications progress other

remain strategy capital collaborations pharma biotech funded opportunistic successfully Overall, disciplined of and complemented cash to and leading allocation. and with fully our securities $XX.X continue companies regarding we investment-grade by through solid advance million. We our

at-the-money, ATM, place programs additional and of in pursue flexibility our applications that we should existing the financial growing want opportunities offering potential and put broad CX. The adds to leverage we accelerate to

to immediate date, and plan. not sold, any under to have However, agreement we shares near-term agreement obligated our we to this not we any business ATM no fund are securities sell the under sell, have to and plans

currently drugs believe solid the I traditional in other towards closing, are to CHO, we that CX as alternative used review biologic that, animal technologies infectious in health I human establishing use financials. and an manufacturing over for and the Dyadic's to help quarter, of vaccines progress In turn platform further and to and gene baculovirus combat to expression the each making will expression development call Ping and diseases. With

Ping Rawson

Thank you, Mark.

highlights. like with you and XX.X I with no investment-grade key debt. securities financial cash is my provide solid I'd few Before begin financial approximately USD and to a business Dyadic's position discussion, million in and

XX.X Our the due to than at remains cash USD currently end interest for higher QX of the investments. in available rates million, balance, low prior quarters

X quarters $X.X was million, with the for cash burn approximately and and in previous Our first $X.X respectively, line and months XXXX expectations. million of our quarter

us provide comfortable offsets certain source and extent activities. to Importantly, revenue to collaborations our our an maintain to continue a of fund position our a R&D burn ongoing partially ongoing fully mitigate funded and our has expenses. additional to research cash allowed business This

results on financial Overall, is animal with in be to emphasis our growing now health. in greater business optimistic I to our markets approach will development discuss addressable unchanged and detail. an large and human

level $XXX,XXX Turning the $XXX,XXX, income in for reflected research of the for revenue to for for in to XX, for funding reflected year R&D ongoing to quarter quarter approximately XXXX. project quarter R&D quarter for ago. compared losses September the X the period comparing cost ended from the one for September project. to provision comparing lower collaboration research the We contract $XXX,XXX revenue research a increase the in of of the biopharmaceutical collaborations reported collaborations cost approximately per a of of the $XXX,XXX ended The statement. X and The XX, $XXX,XXX decrease decrease XXXX. activities of development revenue quarter same revenue and a was

ended compared period period activities. decrease a Service projects to There COVID-XX year a completion for to as were ago. for research XXXX, same The the no expansion same XXXX. The the the related additional XXX,XXX of includes September months $XXX,XXX party which to in June for research expenses and Research XX, primarily the quarter XXXX, well year ago. targeted development increased to the with approximately R&D our $XXX,XXX Agreement XXX for internal approximately BDI reflects the increase of due was USD now XX, September portfolio, -- ended compared X as expenses our

reflected legal The SEC comparing and million $X.X share-based a approximately to for in increases of increased quarter same ago. incentives $X.X increases premium the insurance and expenses principally the miscellaneous year accrued period for expenses compensation of expenses $XX,XXX G&A of $XXX,XXX, of $XXX,XXX, $XX,XXX, to of million $XX,XXX. noncash registration increase

$XXX,XXX interest was securities. primarily due period income a the was comparing the $XX,XXX to The interest for the Our lower ago. investment-grade for decrease the quarter same year on company's approximately rate to environment

third year million or million reported the for per approximately ago. net per $X.XX same period or The share of $X.X XXXX was a $X.X for compared the quarter to loss share $X.XX

to open call the Q&A. will With operator the I that, turn back to up for

Operator

come will our from Ahu And Demir with Instructions] [Operator Capital. question NOBLE first

Ahu Demir

made you on any good coronavirus the for you program. improvements, so, really RBD got if additional the although are was research I And previously. any there curious antibody if results

I just curious So updates any that. are there if on was

Mark Emalfarb

Yes, there are.

immunogenicity supports but in we're mice in the trial, did. excellent T second we the mice as IIBR what as mentioned we So neutralization, response not have which also and trial the only seen seeing call, well cell

in have the in per X per the quarter we that, grams liter somewhere increased to approximately X to addition gram X-plus days. around productivity liter from In last

So of that generated for that, strains tremendous used vaccine on variety CX additional of and different be candidates. we've a can we made progress RBD

expressed of of Infectious Group, addition, NIH, you is related Fauci. we the Vaccine we've as which or out, successfully in as know, the more part Research which, is Dr. for Laboratory, of the Center course, to And candidates one National the Frederick pointed Natural Disease and

I rolling So made very shortly in we data animal of We've data. think got advances. some significant the other on

in own, to the hamsters. with challenge either mice, transgenic course, and on mentioned, to CX we with [ in studies studies we of be and ALM animal mice conducted hamster and up XX and RBD, Ace-X challenge its studies expect As ] nanoparticles, on with in studies RBD,

very So long can terms lot make of on. per I excited obviously, and billions even And a a we record cost. a now we're results in even lower gram for productivity even time, higher going of the X in quicker and the it's doses and about liter, see efficacy level that course, there's so of even

hopefully, that. So your answers that question about

gene monoclonal antibody, terms SARS-CoV-X, an from produced initial now have licensed respected very conjunction And looking field. biotech IDBiologics, and the University also CX it's we antibody lab, with Crowe's data most promising reported, for in antibody of in we a as that's addition, James in the they that neutralization. firm Vanderbilt in in the And from and who of renowned was called one of the monoclonal scientists

So SARS-CoV-X. people on potentially out a us going about lot and in expressing of additional today reaching other for a even antibodies lot to CX

Ahu Demir

great. sounds That

question second programs. my external be So the will on

how increase you considering payments partners? made you change, of those expanded or just talked I means, in in pipeline -- your approach by was any and royalty in also to them advances it So curious. portfolio, Did currently? in you So did conduct partnership milestones Have it how your them? many the change and with you your terms milestone

Mark Emalfarb

no mean licensing. potential excess I all fees, those funded royalties, cash upfront flexible programs, for R&D changes. are There's fully Yes. proof-of-concept, really milestones,

made, opportunities research we even potential including mentioned, signed, were already that one today pharma more discussions big with -- for several companies. licenses to leading platform the and and the addition in a with I potentially deals funded others, technology we're products As in or to X we

Ahu Demir

on And some some you my you some on be last we that see will glycoengineering. data question presentations side. that progress. when mentioned I or might know I made the curious am

Mark Emalfarb

Yes.

strain merging of continue in make to say, productivity. low glycoengineering protease I on with reconstituting progress then the the significant the the, glycoengineering and and the We would

we lot So monoclonal a so programs in together, on, make low-cost, therapeutic we're targeting, high-quality, we're can all proteins. in stable, and negotiations with, of other glycoengineered particular, antibodies the working is one putting that

for more doing based we're make to So I'd there, we what that target are on and we're success. looking deals that targeted on say

Operator

Zacks with Our Instructions] [Operator John come will question next Vandermosten from CRC.

John Vandermosten

or indications any And agreements. guess, work them that of them? about they wanted defined restrictions congratulations agreements how I there's they're agreements for specifically new does I with what on, under the those agreement contracts you're those How on the and what can in X if that be ask doing can those proteins made terms when and to pursue.

Mark Emalfarb

Yes.

highlight, in all, health just new X signed just want several last I health. to we agreements of agreements First new the X X COVID, were made animal X human that we Those just today. the for and and

momentum So additional with to lot a before clarify come in going, have that possibly ones that, and could we're of in we've discussions got call. actually this even

the between see end some more of year, deals. now and So we'll hopefully, the

And your to answer I is call, to let I specific Matt, I'll questions, answer you chime that. the think think do on in? Matt, who want

Matthew Jones

A to and call everybody all I welcome hope Yes, the you're well. sure. Thank on safe you, Mark. and

we we involved is of that, with course, part are enabling. the conscious around of answer John, the mostly very programs So are are that that

right now. everybody Of course, COVID, for a big topic

other on, mentioned related to may work. many very that for to and Actually, has different or the type CX are animal we many which conversations pandemic We as new be are several that. may agreements, going health. are or But Mark's attributes there platform and a not not conscious immune human

So we all pushing fronts. are on

that care more effects real. the the potentially can't say that is care is confidential contracts pandemics, health as we health pandemic think the which of -- we anymore. today the nature we more of can can't something and I And challenge is always. look what But get future and cost avoid of the at of this remain

now lines CX. enabling That are on had have with turned falter those perhaps or cell have classical companies still shelf we stand or encouraging. conversations to who -- were go who more So the projects

also. just presentation that's mAbs, excrete, encouraging the of or CX And can can molecules. at, look also in to updated what vaccines type you types presentations. We're of think public on given produce of Indeed, our terms not can I diversity has other a And call, very of everybody great. that we've molecules, website things this talks the an

have So I we think are been granted. nonexclusive conscious licenses that

holes. rabbit not gone have down We any

We are And are X we about. and we certainly close just in forward today, we reporting confidentiality, we which very to a strong change very we're when always can, here. we And were proud -- able adhere John. position. to important conversations, we won't look And very to

in not percentage certain But focus. moment, than of human range big animal molecules, of range both have up a lot other yes, we're more things involved at the for but still of and that focus lot that conversations in is pandemic opportunities, a We does take the our with. health, a a of of

Mark Emalfarb

can make their filled. realize the there's needs many how fronts. recognize governments to helping CX And add gap and I come I a be cell industry, understand to the I and the big think and and different highlighted the how pandemic potential that And say, use of we're let's think pharmaceutical the so is deep and wide gap sure I on existing And pattern, fill in can it's is up, a really that adoption in lines. inefficiencies little they thought speeding bit, John, has this that think gap

animal purification. the it's together. several All how proteases, fermentations. come in do the work that's I production, not but cell and deal where high lines pandemic, we've CX can quick of human the of better of we've programming, quickly, knocking levels sort coming health, with mean glycoengineering, in years very rapidly stable developed about only been last We learning through for all to out

that. classes. much in dollars get And just basically eliminate investment us. And productivity, the coming ultimate a how a money. of It's pharma pretty investment over proteases. we of pops we're get learning high stability, and doing. shorter, some from in us that the now last giving high low molecules to it I in are giving need know It's it dollars which out think I the the as protease problematic to and And we it a rid fashion the and the to of R&D devoided XXx and call, analytics map knock that's road general quality quicker in on the that proteases They're knockout, we big result So they're cost. how high the as from it's if on cell have mentioned the -- we in protease one have they're much sort a isn't up, one, whole

So you, you honest to science, I mentioned is coming we've think, as coming guys, And with all putting to it's be together. about now together. the the And science together. it's it we're and

those then trying and glycoengineering the GX, productivity with we mixing protease that earlier, X the I strains, taking and or cost As and strain knockouts the the the with high XXx stability quality we're improve and so together to can those the flexibility. mentioned give and we're both maintain low putting high in GX, great

recognize we everybody is needs brought a we think on a in. that think game And ours I to that, that because the this. we're think thoroughbred. we're think And line cell frankly, we've starting pushing ahead ahead that be And is of of quite to there's new been I and that race,

John Vandermosten

sense of on more Hengrui, them? line going And Do the are focused are biosimilars? with and relationship in with be to Jiangsu focused they they do development on Will leverage wondering to also kind same along going might the on CX be how what they they approved going products the you for or on? Are be focused just I'm with that you lines what they to have have or? a ones it?

Mark Emalfarb

lower And say, drug. they plain be a could than that to that I want sense but a out have to Yes. drug think okay? else general, I might it's someone in may biologics, more, molecules, simple. class a find produce multibillion be because But it's way that's a and which there, it can let's molecule rather new general a existing give confidential, in you molecules

country health and way care if because I the cost unrest becoming manufacturing Chinese care no what going it huge lower the And reduce inalienable that to And social you government cost. putting across that of on to want as pressure is in you're these on a our world, the companies to be, should pointed to and dominate right. They Matt don't host. is the access there's an think their out, health have and better deliver

monoclonal they're these I don't or And make monoclonal I antibody whether a see can't can't out it make for example. They Lilly, you SARS-CoV-X, have They enough. for making antibodies, enough. you AstraZeneca Eli be they mean there the enough. give great companies all saying Regeneron

really think things supplement, replace what them. we going So CX to you when make in not CHO is a that case, to to possibly answer these going good or people out access much they need because make to antibodies the you get have and doing die not is as got can because to as it's

kind. pandemic solution around, to the So continues think if it quicker practice, we you have that for to big this will be them And if human put I in, recognize that people and reel pharma. people And recognize to hoping few think And hook we're okay? from solution. those hang and that from that, of the better to a are I governmental a starting agencies

John Vandermosten

India? on of Yes. be kind thought that or would already I that move? biologics that guess And domestic the similar of a market to it of take approved as Is that the already for drugs Epygen and have well way are in that just are cheaper then Biotech India, kind approved

Mark Emalfarb

of low-cost initial the population that a is can potentially thought afford. million XXX vaccine to Well, Indian actually with the doses Epygen produce

pandemic, think to to beat the going punch. know these out. that beat They're and "Well, want So of got We the can people And they going out." out. is, to a population. us to if going to cost all or all not guys I that have what part be mass Sputnik's the with at it But a think, to solution. Pfizer us are came made. I not honest be you, we everybody to And do know you eradicate best get their they're at coming they're a quantities

to let's be ultimately, predict type think what easy or boost if protein. this we're we And cost full seasonal whether are around, income [ people the of going basis, these a void And are compared a had sort ] And countries to some fill to of, or the sticks say, vaccines. have believe going to spike thing and the as lower boost CX people that some prime the lower of vaccine sees doing level. lowest produce the we And much we with tremendous the to vaccine. water benefits on

understood vaccines spike. a to binding versus We not when the or you far the those domain, confirmation. grasped from that a We we what if people better the people are warp full the approach example, if as But it's virus. And speed, the think you have other spike. at as what know in are the doing. in look for safer system we're neutralizing closed speed, key don't go the and receptor spike approach key the are warp full all we're of expose immune difference I I after remember, the RBD use because epitopes to domain hidden doing

efficient have antibodies response neutralizing of the by focusing induction primary to immune neutralizing epitopes. We

The a the of yields be vaccine RBD, response a the to full-size potential see, a these we that can to lot And coming sufficient to boost boost spike so shots boost a from could spike to the as produce. be is well stand-alone compared it's recombinant then immunity, good vaccine smaller The be when vector the going in, protect RBD, believe is a immune strategy. easier XXx we disease. for protein. higher than to and vaccine very protein trimer, you data to It's get a as as you believe of the universal to as

of CoV-X, University, that coronavirus, these been mirrors in a Erasmus, Utrecht SARS and to who've from involved past it from -- not CoV-X we approach. safer on And scientists based then again, believe the it's TiHo or

spike. antibody-dependent alone with respiratory enhanced get ADE, don't ERD than the the the RBD it You That lower probability or full with the disease, enhancement. is is

the came that and up We we experience. who've own. you attack with an the need. scientists this decades, approach this doing who up extra we have low massive approach produce virus safest the with And the where to would this cost came and bring it commercial on And flexible protection amounts was at we just is horsepower in to So be felt of been for scale. they would very get this took these our not

So if go doesn't pandemic, have And this and the position thing be think this going and in we're avoid technology. of to being I because away, to these shape. matter It's advantages no the great and cost. and hosts we're exposed productivity world exposing what, great in they're seeing the other

John Vandermosten

Yes. are advantages. the one required Frederick before Thanks tail for me humans on step, before to milestones going for the What on what's extra RBD get got into Last just next you've you're is the Lab's there? there? the

Mark Emalfarb

end make or need think soon, potentially, more the from and they them. of the performance provide it successfully. believe them mentioned, because evaluate have, them. We're we're sure of any I'm analyze. going on, we've they it's giving need, protein what more we And them what criteria or expect Well, milestone as that they by with it over to And based providing point them that the very expressed for we they month not want. the -- on one candidates to to turning that as And we're we to up purified to I really

So Can we improve we Yes. it? productivity. done. we're of pretty terms -- much Can in

at is, they're it. to vaccine the a almost want productive. with do make And but more question feasible to But to make going will they levels, today, that? we believe, I part done. do enough, always And can it commercially what is productive our it's So

John Vandermosten

And think forward. I guess that, they like had file I an right? we how or to moving guess, IND that's something

Mark Emalfarb

studies Well, have animal and probably do IND. they to an then first

John Vandermosten

was what Okay. they I wondering about what have. Yes, that's would

Okay.

Mark Emalfarb

potentially But keep door, to years in with robustness and ability because mind, other power, decades they or ZAPI done to advantage over of ways. of the the for several have take the that that come next we've and flexibility back seen John, opened things to the them CX do in couldn't they've just like

Operator

will question Investors. Lee next Alper with Our come from Hammock

Lee Alper

Got a update up? and what's any that couple. on holding One, Sanofi

Mark Emalfarb

Yes.

Sanofi be express use, I looking best it that other goods opportunity. is easy fit. they that things of think can't past have in They focus. like the they something anyone But not lots on a to if presently a for the busy, quantities see find trying find where that can their the into in the advance studies, they COVID or They're the of they will place, preclinical sufficient for clinic can with still is have are may the they're expression else. They obviously, they're molecule, where cell us. and update to cost and into home lines

Recently, I've told actually that's spoken to them, us. and what they've

they're looking the advance to use it at preclinical in for that animal don't CX potential place But So to studies moment, have with. a they're they trials. new in a molecule do ready to

Lee Alper

that projects lines, with? away you the they're working from walked same on the has along And anyone Okay.

Mark Emalfarb

I I'll mean a away, big one years we're okay? in example. and couple walked discussions ago, company did of an they're now you that back, we have give pharma,

it the of the have years flu ago Sanofi, vaccine and course, might other had. on because of science, wasn't So they because away, of reasons walked

of do is, But to right looking the put and the people these answer It's one most cases, course, research into are going molecule It's to not the it's the a them that the -- every with success. move has programs forward. it for. in finding they're of and timing. and So provides benefit the not nothing necessarily science to cell

Lee Alper

patent What you exploration you All you And do in do the a on us can right. XXXX? And keep? lose? little what rights color give

Mark Emalfarb

don't Yes. whatever is CX, itself, XXXX, possession. potentially lose in anything. Well, for it they out-license than just have DuPont we It's in can actually other then, their

kind competitor. of evolved we XX, be. brick, and the haven't And iPhone sure competitive just and we've they're lose how we But anything. they're CX they a XX-pound if not so have And going to the like quite gained I'm don't Motorola

so with you, market honest and be because and wide here were they clinic in with product candidate are now is the the be some so to easier would and own huge, ways life And if opportunities their make they the diverse. could because

be themselves, I could rights, think not argue the rights And actually they XXXX and if in have they until December them. would ways, it they had for can't some it using we're and you they're sublicense business, drug in beneficial XX. but

So we rights. still maintain our

Lee Alper

Right.

So it? in side medical the able to do be XXXX, you'll still of

Mark Emalfarb

noncompete this by on the year. the January X industrial on our And ends side Yes. way,

Lee Alper

Okay. to it us lines stuck And to zone. on red many have but on goal, going your one to of is shots What's seem $X take a there you you get deal? over in favorite be

Mark Emalfarb

we're think don't I stuck Well, a in red zone.

line. line then with from We domain, animal is know as XX-yard efficacy I coming for to data the The example, binding working mentioned, XX-yard the think we've the already moved we're productivity XX in. we and is up performance have on, And there. in, is studies. coming the to the I the receptor

towards gates So think a have in into more opportunity. more to like we're Phase vaccine opening these clinical of more think I we'll flood and it candidates humans start And get one I into humans. or working trying almost where gate, the once trial, I gets a up

there hopefully, we're XXXX to going think get in we'll in start XXXX. there. get to And I QX So in

Operator

for Robert with Smith Performance next Our question will Center Investing. come from

Robert Smith

So Mark, it, you aha. said just

quarter. first the mentioned you So

the first that is trials possibility human a clinical sometime of quarter? So in entering

Mark Emalfarb

even But And our can it doing Yes, and And do. meet. foremost, everything collaborator's of to objective want our that own, and if that fund meet that first to we fund rather to someone it's we're better. of it's we're ours all of else help completely or can money checkbook us that. one trying a actually get trying we a our be would it, for We than possibility possible. with to save if use it,

Robert Smith

you community? of CX is of would that in the Well, understanding growing the say knowledge

Mark Emalfarb

ZAPI, was spend proof if remember, say, with They use baculovirus way CX SBV not we've effective. changes back I X attention we for potential results. there to and the were only that we to of principle with as XXXx cattle more in challenge the of studies the that were don't done got that, safe, good. I The adoption something guy had antigen, than think X Arthur, I you know, think pandemic article like CX. Frentzel, this Yes. or I And have or absolutely, more ago, months would this everything

we've it couldn't virus, the at all. the Now stably, RVFV, baculovirus make Valley done Rift Fever

productivity binding X just per domain, in the levels now X data Our there. more and and And more efficacy, and own reported and now days. the that with more liter more data More the coming around is more showing safety at and animal high is are receptor results of is performance in. grams

for people be to It's pandemic So can or for just with it. vaccines. And I think, it's I that solution and we a starting affordable pandemic And to because changed on hope a drugs we're the be I doing. CX. biologics, everything mass yes, think needs it what the biologic are more it And more whether absolutely, a traditional produce I think way world brought opportunity. eyeballs resonate has to

Robert Smith

but Yes. I the the don't far I many what there, as comments see about distribution, mean, production multiples so actually much what see have you could and -- of be so mention of as I gained.

me. that's puzzle a So to

Mark Emalfarb

can we I'll gain. you multiple the Well, tell that

I -- know. don't got You've

who going Pfizer to doses said X.X was they're make XXXX. came just in it out, and billion I think they

an and need entire don't worldwide, X boosters think which on that's year. If patients right? it They're on on. and billion shots, XXX,XXX we XX continues is have and going to and I you need shots enough for even So potentially,

believe we So do X.X not had month, billion year. a in a if make the wherewithal wanted we if we doses, to in can I financially, it

the vaccine humans just know of efficacy you may as in gives kind not lower at a difference that or -- with be So may safe cost as that don't because safe of good. potentially the a we

Robert Smith

fully but I that, doesn't why No, understand Pfizer?

Mark Emalfarb

Well, kind DNA. the I pharma a lot use But exact you're guys have they And what of take don't to go like approach they not stuck. a clinical or it. approach. probably of then they don't get through you It's Pfizer just it and I it. and they remember But was mRNA and I, get back. to these Phase -- start know, trial an do you took going

You just keep pushing ahead.

Why I ask Pfizer. -- don't CEO they don't it? the of do

asking to be CEOs. all the should somebody this think question I

Robert Smith

Okay. with I agree you.

Mark Emalfarb

I But we're question, assure asking okay? you, the can

Operator

now I go any turn this closing back Emalfarb and am Mr. time, questions showing further the no to call remarks. we'll ahead. at for Please

Mark Emalfarb

Chuck. to year be very Okay. a exciting for Thank you, continues XXXX Dyadic.

objectives the business to data has discussed, globally. move CX's our therapeutic protein trials. or expressed clinical The move CX collective and to has vaccine scientific enabled promising positively a resolve pandemic visibility increased scientific meeting a other antibody just and we've into way us find our to closer As strengthens to

continue I'd like to to together focus for tireless directors are and safe. our Thank their your population. these during thank vendors very global and challenging health times. time and all of your year, look the We've made take patience better progress for work -- year far employees, to our to care so and for shareholders positioned to like as dedication stay I'd forward also strong and we than we to thank a today. bring you today, even we this ending

Operator

Thank you attending The today's for concluded. presentation. conference has now

disconnect. may You now

Dyadic International (DYAI) 12 Nov 202020 Q3 Earnings call transcript