NMTC - Earnings call transcript Q2 2024 | NeuroOne Medical Technologies Corporation

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Operator

Good day, ladies and gentlemen. Welcome to the NeuroOne Medical Technologies Corporation Second Quarter of Fiscal Year 2024 Financial Results Conference Call. Today's call will be conducted by the company's Chief Executive Officer, Dave Rosa; and Ron McClurg, the company's Chief Financial Officer.

Before I turn the call over to Mr. Rosa, I'd like to remind you that this conference call will include forward-looking statements within the meaning of U.S. or respect which operations, beliefs are as today's with trends results, and laws of performance, dates. and based call securities to financial future events, assumptions federal specified other on management's

statements NeuroOne's which cause those financial factors, expressed results involve and materially by implied to may and as risks, press actual unknown Forward-looking results required uncertainties may such forward-looking other or risks differ results from SEC law, known and regarding statements. uncertainties to filings differ. cause could statements. and no Except release undertakes specific actual by such NeuroOne obligation for that update See information to

that, With go turn Please ahead, to over sir. Mr. call Dave I CEO NeuroOne. will Rosa, of the

David Rosa

operator, Thanks, everyone. and welcome,

make and on both the relating to development. objectives product significant progress During of continue quarter second commercialization our fiscal XXXX, to we

First, continues is comment I centers. progress Zimmer a sales opportunity We Evo sEEG Evo sEEG new there the commercialization Biomet still add and product into previously for revenue. increase significant with in we to Biomet. further as new our as commercial partner, would Zimmer line And growth discussed, and expands believe to electrode continued a Zimmer corresponding on like saw accounts.

our in electrodes. the diagnostic margins electrodes We to see to from Evo also expect improvements as transition OneRF offering we product product sEEG

commercial device. adding for limited for same reminder, look forward a the and electrical recording both this activity patients new launch. use date, system the tissue, at centers quarter and implanted intended utilizing X As OneRF of center an ablation FDA-cleared system, we first to a with One ablation nervous have the To

more will we broadly. we Once additional receive generators, expand the ablation launch

the to delivered the additional generators that as to quarter third expect calendar during are occur company. We

strategic currently Regarding distributing directly, potential remain we licensing device are in regarding the of discussions technology. with the partners the but distribution, product

the ablation to Medicaid CMS, procedure Services, March for code for otherwise ICD-XX-PCS OneRF presented the inpatient reimbursement the in collection processing claims data application also and We as hospitals known an of centers procedure. for support hospital accurate Medicare and by

we by targeting other the plan of In pain. our to versatility addition, leverage indications treat to ablation generator

of We to therapies FDA of to get platform We deliver and further new a we'll updates the a are drug by targeting we impact. as to brain previously the well provide the year, sEEG the calendar submission delivery to closer of submission potential the as our this discussed our and program monitor date. pharmacologic therapies technology end as the application

eventually neurosurgeons helpful believe could technology to and another tool development, of complications. studies neurosurgical We the treat for be a clinical offer variety for drug

During of the show past to company quarter, cord on pain. we low less our Advisory of a able were place electrode potential in strategic The stimulation Members the our to developing in Board that and suffering a in accessories back delivery by to requested percutaneous successfully patients progress with development partner. made for minutes use paddle progress using testing system. proprietary spinal or electrode were treat Physician continued X

year. freeze technology to end this expect design this calendar We the the by of of

to our like results. the review to a of to provide quarter call Ron turn of financial quarter now would second over I XXXX year our fiscal -- McClurg

Ronald McClurg

of to was 'XX Product of quarter fiscal fiscal $X.XXX quarter the in product the in of million second revenue $XXX,XXX XXXX. Thank Dave. second compared only you, revenue

period. compared the of and revenue fiscal eligible for $X.XX was no that during product X and X revenue million represents had company recognition were of Zimmer agreement X period for was the revenue XXXX fiscal months to in XXXX. portion Collaboration the payments For million same revenue the revenue in collaboration first 'XX, XXXX the $XXX,XXX $X.XXX of months of compared milestone the from months of to of fiscal in exclusivity the first fiscal collaboration the XXXX. fee derived development first The

operating in second to XXXX. the expense in same Selling, fiscal $X compared million with expenses XXXX period. in $X.X $X.X million $X.X fiscal 'XX and fiscal $X.X of million and the prior second the second development quarter was $X.X the million of quarter compared of of second in expense the compared prior XXXX period in the quarter million fiscal million of was Administrative fiscal the with were quarter in General year Total year. Research

compared in first in 'XX. million the R&D with months 'XX. prior expense same total of $X.X fiscal period the the were $X.X $X.X of of in in with X fiscal million the year million million period. 'XX, was XXXX expense XXXX the million For SG&A of expenses months operating fiscal was X $X.X with of months $X.X million fiscal $X.X the fiscal same in period compared X first compared first

the was loss fiscal of period Net quarter quarter $X.X first 'XX of loss compared months net a in for XXXX. $X.X second million was Net compared to $X.X the the for of XXXX. second million fiscal X of with million $X.X same in XXXX fiscal of the loss million

the average per of share, which the from company the of stock ATM company received price second under $X sold program proceeds $X.XX fiscal XXXX, common the million. net During quarter of at an

of cash as $X.X $X.X As to equivalents XX, March XX, the million had of million, XXXX, of company September XXXX. and cash compared

a received May of of $X.X sold million. the of share to from average compared XX, to company as program working $X.X million XXXX. had company proceeds under $X.X Subsequent X end common XX, March XXXX, the million debt XX, additional the March stock capital XX, September no April of of had as 'XX net of price working ATM outstanding of an and XXXX. of the capital quarter, to The as $X.XX company The at

With turn it will back Dave. to I that,

David Rosa

can think I are we there Operator, now if questions. Ron. up for Thanks, open questions any

Operator

this Instructions] no time. [Operator in at are queue There questions

David Rosa

All to remarks Well, time. I'd some closing right. this like at provide

company's inception. like the the So since to best attending for the position This been first, again has call. NeuroOne everyone in I'd that thank is

product adding margins. improved growth growing are faster we and lines current revenue revenues allow Our and to for the are to

near-term devices other get helping have with opportunities in the we faster. breakeven to addition, development, revenue product will and status which assist In to us

Mayo have with us. Clinic Zimmer best and I investors prominent the partnerships have We believe yet firmly the and Biomet Operator? is institutional supporting come. to excellent

Operator

and Thank This you, does call. today's conclude conference gentlemen. ladies

You wonderful your may have you your a day. disconnect Thank and at participation. time this for lines phone

NeuroOne Medical Technologies (NMTC) 14 May 242024 Q2 Earnings call transcript