BIOR - Earnings call transcript Q1 2022 | Biora Therapeutics, Inc.

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Operator

Welcome to the Biora Therapeutics First Quarter 2022 Earnings Call.

During the presentation, all participants will be in a listen-only mode. Afterwards, we’ll conduct a question-and-answer session. [Operator Instructions] As a reminder, today’s conference is being recorded. I’ll now turn the call over to Chuck Padala, Managing Director with LifeSci Advisors, Biora Therapeutics Investor Relations firm.

Chuck Padala

operator. you, Thank welcome update and Therapeutics quarter first Good financial to results corporate and conference XXXX afternoon, Biora call.

Financial Joining me Officer; Chief Executive Mohanty, Adi Officer. on the and call Eric are Chief d’Esparbes,

on filed statements you reports involve our to will These actual in turn our forward-looking I forward-looking the from I XX-Q to today risks the will Form many meaning including within the substantial of to forward-looking as over beyond of be quarterly section. securities of website that Before our materially but those represent Mr. projected our available the not date call and today’s views only will limited and identified control. federal call the we uncertainties, with would on that in SEC, file are Please Mohanty, which note statements like of statements report as results that Investors and in the our any forward-looking include remind that differ call laws, types the could including, later subsequent the all this statements.

Adi I from a now statements expressed see of further and materially risks that CEO in will call cause periodic reports Biora our Mohanty, company’s to For the of SEC. actual risks differ that, to turn the the the could forward-looking related as With as results please Therapeutics. well uncertainties to description those business, over with filed the

Adi Mohanty

Hello, us. everyone, thank and joining you for

patient’s step our as Therapeutics name reflect mission innovative I improving life each without improve we is reimagine develop oral on chosen We and we life pills. Biora’s Biora patients with our where a envision Biora review our quality have program. smart in biotherapeutics. today. therapies will And by recent needles. transformation big purpose recap a that therapies developing access health was to of I’ll to corporate where launched The to then First, highlights. focus we and is took are forward world therapeutics Biora’s to

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drug program with formulation large application. coding this the first Our platform that’s delivers with by for a intestine topical optimized

Our targeted toxic has been to or which systemic impacts patients. has approach to been shown implicated uptake, in adverse reduce

financing is of to smallest our call, With administered therapeutics. In Second using delivery only easy large that made which uptake liquid announced the be Most since needles. last jet to to technology today transaction use completed we’ve intestine single assessment our develop weeks we cost contributed maximize few on detection our newly to last our and transformation. funded round of these all an were biomolecules assets healthcare a We’ve enable million investor. led that technologies, commercialize with to liquid $XX.X platform Enumera technologies related intends low A be Arboretum molecule will which which capsule. by of using systemic molecules We sophisticated initial to rapid progress delivery aiming for Series via we’re designed biopsy. platform, molecular, for week can formed a by Ventures, significant an and allows by the oral of to this the oral

therapeutics our which commitment of or maximizing for focus while is financial funds any our Arboretum core and without with ownership Enumera maintaining an enable and upside to Ventures diagnostic from develop the stake we minority have programs. pleased from potential our to legacy a value example to company. assets We’re this opportunity future resources on This committing

novel experience growing brings our our our on for support therapeutics the as appointment leading join device will team products, where of be capabilities his Technical and announced of processes. programs Paul Operations. very successful look We clinical while programs. focus ways Paul Paul biotech in development continue implementing and commercial to I’m SVP, manufacturing assets. Shabram XX of recently to our have legacy maximize to to will happy We manufacturing and years optimize over performance

continue and required biotherapeutics We to successful company. be skills a to build the capabilities

expanded and We operation our also recently addition manufacturing internal new the capabilities with a space. technical engineering of

on Moving to programs. our

Therapeutics Targeted our with First, platform.

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otherwise would this of facilitate systemic drugs platform. to Next, that infusion. require of I’ll goal our oral biotherapeutics injection cover platform administration is or The

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We expect Fed in to state study and QX. complete our UC therapeutics device function in targeted patients in

clinical for our FDA in review the with fourth X study Phase plan will our months the of the quarter. ahead PGN-XXX coming during launching We

of Eric We share systemic capital turn enable I’ll for next the begin will to our financial studies expect discussion which data call over first and our bioavailability that, activities. from program, clinical market a now conferences generate results With and to year. to our upcoming therapeutics

Eric d’Esparbes

good Adi, Thanks, afternoon, everyone. and

mentioned now biotherapeutics. of company we’ve company with a leading goal transformation into completed oral the therapeutics our earlier, of As delivery Adi the

with single on spin-out focused more profile while investment organization past a associated we’ve the a reduced platform, to much our created molecule eliminating burn. a with a cash return now opportunity the of cash We’re generate detection our burn

with million capital generating expenses, optimizing Our the pipeline including More the goal specifically, in in development line of completed excluding remains near-term million, transfer value first our stock-based through clinical generation. $X.X expenses key our the data were a our in achievement focus expenses molecular allocation as guidance, quarter in testing million with XXXX of milestones $XX Operating and compensation $XX.X compensation were first expense. G&A of assets. of now we’ve to stock-based previous quarter a

in expenses. While quarter first $X.X compensation million, expenses $X.X million stock-based were R&D the in including

Thanks expect we while expenses activities expenses our to of year, cash cash $XX.X less this As our a to we monthly runway We of operating to and reduce than expect with in XX, reduced burn. call, our had by balance into will gradually the XXXX, $X XXXX. a million million. burn well G&A of giving as track us year QX March cash our mainly clinical R&D previous end workflow mentioned

programs of engage investors. a we Tell ahead the Biora us as and adequate to important our relaunch make have visibility company of active very story Therapeutics, community. plan investor the sure have the IR With with our with

seeing programs and biotech to invite turn and from are I following contact our back development interest With now increasing investors us, the We that, call in you Adi. will have if analysts an to over any strategy.

Adi Mohanty

Eric. Thanks,

our Biora you I’d progress where to the presentation our Investors Therapeutics. at pipeline about the corporate view So our and by visiting under to excited large we’re website making about invite and with updated learn good also bioratherapeutics.com, like more Biora new you can are section.

for therapeutics. that ready you Biora media to links to along the find Therapeutics questions. our we to With invite on reimagine on follow our website us we’re new operator, where also You’ll now with social accounts, mission

Operator

Instructions] is go BTIG. of the [Operator And question from Julian Harrison first ahead. with line you. Thank our Please

Julian Harrison

my you thank the all on taking questions and recent of congrats for progress. Hi,

patient on and in the to PGN-XXX, I – future But of biologic me, wondering the you potential for extension understand first on First at point, the by interest the our if line experience, in excuse naïve patients population UC for potential just be clinic, might biologic initial positioning. this want focus patients.

Adi Mohanty

that Certainly, few question are right. in more Hi, months, Julian. you might appropriate be a because

data are opportunity of line. we starting to think potential of kinds folks. the is to experienced use these up outcomes, the given absolutely drugs and But We move preclinical with first there a our

early be to get that. we’ll about doing But a to something believe And the We soon. but in talk do. potential so it’s of that might bit could we naïve that, that absolutely

Julian Harrison

a what filing IND ongoing year-end? you more before I’m And characterize before systemic then preclinical first to talk regarding little or delivery wondering your your want it. Got Okay. for work optimize you about further platform, if here could

Adi Mohanty

interesting points systemic the might data there’s that think couple coming month. other on a exciting out So this be I actually program, really

is studies, we from we’re is that that So be we’re work that gotten is to these in look It’s think indication this technology, to viable. interesting we potential have also doing because analysis. a would earlier, I just in of interesting. range with our not talk XX% are this users XX% that be we’ve animal our which terms collaborators, these the that being could XX% of a few bioavailability more XX% And mentioned able companies to who great, saying, commercially clearly

is be do to lot a and One, how that the a few next FDA, So mean animal two, we we to lot relationships with do to data for a that we where data us which would proceed. our of hand. say of few see more is in months conversation able the studies, have collaborators to own important those what equally this would terms available but the program, how how in have progress our we take in

Julian Harrison

Okay, great. much. Thanks very

Operator

the [Operator Instructions] with comes go line our Please ahead. Mamtani from of Securities. Riley question B. next And Mayank

Sahil Kazmi

all level, asking questions manufacturing you forward Sahil to to development improvements disclose the This team. same what study extent and quarter. look for touch color as device? could is late-stage the in able you And high for more you the that’d the the to could you. intervention And And in the on a Kazmi at you’re scalability what disease be like. great. then Mayank. Maybe throughout of that qualitative just really FDA as bit terms might the are clinical if regulatory that on requirements good also Thank and a path afternoon progress well get UC? context, development, Hi, provide Congrats on

Adi Mohanty

try probably to them. five questions. was cover that I’ll four six or or Well,

about talked we Type C we’ve filed a meeting. think recently I

meeting, we the C a sorry plan good FDA, not Type we have to for our So filing be. made C Type proposal think in a what that development would

about a conservative and take being thoughtful very little this are bit we and program being We and careful forward. go how

as such that of can in a proposing we’re data the to first on get like and tissue, for in But learn the fairly can would to is good good some data. a normal the be great program We there’s that a Phase that Phase us systemic do correlation between outcomes. that given typical we X. So would how X be information, Phase study platform we potential this X concentration this helpful get. have not lot a just of can tissue disease the We that We really levels but of learn and drug much in drugs. on the also think

safety. probably purely is there be X Phase this learning should think about just believe than a less we So useful lot safety. We more

going some to take FDA a it with exact have so normally label, yet but to moving expect the able commercially a are be study. So quickly X. want absolutely from Phase we the We with more what we currently a because it, study dose, is haven’t is about to Phase to X smaller lower response drug, that little can than know a intervention What talked but ascending typical multiple a pretty time to potential doses plan. single the disease dose, commercial more share dose, typical we get be to on we

that than very have what evolve able we the us be you to trial. study give more will design we shared, entire We’re the we a would severe we X disease. placebo-controlled want that that able we initial might do And and be data, the to robust I Phase don’t disease helps details be proposal. soon have proposing then study think be, to that serious can and but moderate, exactly That’s might hopefully able get to be we have pretty would as the have, potentially but with state data a little say we so all

Sahil Kazmi

really helpful. That’s Thank you.

Operator

time. turn it over back on line no closing have other questions at I we now this remarks. for phone the will And

Adi Mohanty

We keeping our joining to forward Therapeutics earnings our updated you Biora call. evening. Okay. all a good you for first look Have progress. Well, thank on

Operator

you disconnect your does lines. today. That your please conclude We conference for call and for thank your participation

Biora Therapeutics (BIOR) 11 May 222022 Q1 Earnings call transcript