- Earnings call transcript Q2 2023

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John Dolan

All right.

Let us begin the conference. Greetings and welcome to the PetVivo Holdings Second Quarter Fiscal Year 2023 Financial Results Conference Call. I am John Dolan, the Chief Business Development Officer and General Counsel at PetVivo. Today’s call is being webcast and will be posted on the company’s website for playback.

of would conference remind may and call statements the I made that contain are begin, Litigation within this Securities and during by meaning subject we to like of uncertainties. everyone to comments forward-looking Reform risks Before Act Private XXXX the PetVivo’s executives projections expectations, conditions, market is forward-looking statement. Any to other of future projections statement that future or characterizations or refers events, including financial a reason, such results future from differ those forward-looking SEC statements its could any in actual PetVivo’s those filings. for materially including in listed expressed PetVivo statements. assumes such no obligation to update any forward-looking

XX-Q PetVivo detailed filed its our with These in earnings the financial the our website today, release documents a of and Investor provide SEC be section found Form the website. which results. can SEC between and Relations

to over I CEO go now Lai, the PetVivo. conference President ahead, John. turn John the and to of Please would like

John Lai

you, welcome. Thank and John,

greater last to Folkes would Joining discussing conditions some me Officer. results up by before of open of line financial Financial additional thoughts today from I fiscal questions. as sharing business and areas Chief and is Folkes, we I conclude with strategy in begin the our XXXX discuss our key the some the quarter, then like Bob highlights focus will for will detail. Bob for

as XX, have accounts We’ve new in Southern SKU. agreement for – included quarter shipments and pursuant subsidiary of the quarter products second national a with of veterinary second of syringe fiscal to highlights who XXXX a XXXX. as in presence with a now. and animal $X,XXX distribution for Spryng open were our is of revenues our the the of for key lead states second quarter MWI, $XXX,XXX $XXX,XXX added fiscal MWI ml Our to reported June dated expanded AmerisourceBergen revenues distributor to X compared sales clinics of net also XX Revenues per year XXXX; health the

with Spryng launch pleased are very the MWI. We of with

We managers product team with of over veterinary sales territorial of have Spryng the started into to XXX happy the are sell-through and market training their the doctors.

Association is Conference XXXX, attending We This MWI sales important American veterinary this equine largest meeting. coordinating for and will at conference efforts the Equine November be the in with Practitioners we’ll of practitioners. of be Annual

would call Folkes, I turn to Chief now financial will to Officer, the Robert discuss like who our over condition. Financial our

Bob Folkes

afternoon, and you, Thank everyone. good John,

As for the XXXX, John quarter a significant mentioned, of net highlighted $XXX,XXX, the in million company to XX, and $X.X At $XXX,XXX of the event of working capital $X.X revenue had total by was September cash MWI. million. most approximately revenue the

quarter, the to year. $XXX,XXX During we growth for this fiscal increased support our in revenue expected current inventory to order our

to expand We continue and from to from that increase order sales use and revenues offering clinical efforts gain public studies our in in proceeds our Spryng. and initial acceptance sale the the of net to invest marketing

So, now Lai. to I will turn the John call back over

John Lai

Bob. like to about you, fiscal would XXXX. for strategy I and the key Thank areas business focus talk more

into We’re equine with whole a John Dolan evidence little small generating and in process series go clinical the detail animal market studies. of the will to of these MWI. about more a support

to support MWI, adding sales year the hired managers with more goes as We we’ll territorial the on. and be relationship

of Ann most injections presenting have educational. injections conferences would multiple Health a series conferences And will conference Spryng to Dr. our or common videos of website, show Also Manning awareness the various supporting at of Joe the promote and discussing Spryng. at Dr. we an be exhibiting also to Spryng. also where as applications within We’re multiple whole the

marketplace. as out into good getting So, be once in market. and we’re getting traction again, we forward system really this will building product MWI, the are, And crucial of education this the the whole to into support we very move

to Dolan like of an will with would I update John be helpful provide over to relationship supporting our the MWI. in Now, to our trials, turn which clinical call

efficacy help about expect more data clinical Spryng of doctors. having will addition, us that from gain In we the the more veterinary acceptance

would Dolan. John over I to to it like turn

John Dolan

you, John. Thank

mentioned, important company. our incredibly thing clinical to trials are John As an

University trial some We we clinical injection have in services the entered agreement of on into this of with a X, Colorado with trial. because COVID, November on dogs. in osteoarthritis Spryng there elbow-associated State evaluating are XXXX, which were Unfortunately, delays

fourth of quarter We XXXX expect enrolled the available in by be data year fully to March the XX, ended December XXXX. of end this study fiscal and the

canine of disease are for study Veterinary we pilot with dogs Ethos tolerance a initial XXXX. study intra-articular in is we Additionally, in a in entered injection and product Spryng into evaluating This which clinical Health May stifle of with efficacy.

to data the be dogs of in first available XXXX. the expect March before for of cohort or We

October safety. XXXX, of completed a in study are which tolerance injection in we for product in canine enrollment evaluating dogs intra-articular we Also in Spryng the

have We to March expect XXXX. the quarter this of in ended data XX, fourth fiscal year available

a initiated intra-articular study in evaluating cats we XXXX, which of in we are October Spryng product injection safety. for in tolerance finally, feline And

We in have available data to XXXX. expect before of June this or

order of conduct our MWI studies and relationship Spryng. with to to gain in expect clinical We additional support vet acceptance

it like to John Lai. turn I’d back over Now, to

John Lai

ask John. you, I explain questions, please? people you for Thank questions. to like Dolan, how would John now open to can to

John Dolan

[Operator Instructions]

Operator

[Operator Instructions]

John Dolan

questions. not anyone Thank seeing a am good. Does have Very you. I question? any

John Lai

comment call. we’re any this if end a make questions, we just closing then can seeing not and Well, I’ll John,

John Dolan

Very good.

John Lai

Yes.

product – Friday, AAEP these orders in sometime the using successes that if Association very were the vets it been about expect the Antonio as good in held talked of a a space the trying release This of having that’s or be you we quite for event, year, able Manning much equine up, us, the as a year well series San It’s us applications. product, doctors. for be week, So of gave this bigger our have last Dr. presenting big believe, get to is and having it were we will applications larger. last Joe was event from saw news veterinary that some whole which some we seeing I repeat Equine and coming multiple American we Practitioners, to the

working about with MWI. excited that So, we’re pretty

Spryng Health then injections website, what whole videos is website whole to designed the also of and that small the And have product towards that intra-articular professionals. at of shows And series Turner gives then how side a series a That applications. website. also use Dr. the for our we animal within more veterinary

that applications. we helping helping and on orders well of on them that’s instrumental be supporting or MWI as data previous vets the developing about So some quarter would would as previous be the secure in the very the call educate we the various talked

completed February, Ethos study coming. end and the We the a it at. for of of So plan, it That’s at the the at much while present takes is us we’re XXXX, lot small And rate. get new given of should major so a a October. of getting which get we we’ve catalysts the March published in published, got can this it faster time trade looking that multiple at the animal data season help and shows events that that adoption to

with call. no So more that our will conclude questions, if there’s that, and

PetVivo (PETV) 10 Nov 222023 Q2 Earnings call transcript