NDRA - Earnings call transcript Q1 2022 | ENDRA Life Sciences Inc.

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Operator

Good afternoon everyone, and welcome to the ENDRA Life Sciences' First Quarter 2022 Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please also note today's event is being recorded. At this time, I'd like to turn the floor over to Yvonne Briggs with LHA. Ma'am, please go ahead.

Yvonne Briggs

operator. you, Thank Briggs Yvonne This with is LHA. and XXXX quarter afternoon ENDRA's first update and to business financial Good welcome results call. conference available ENDRA today, topic, of issued press website. in is ENDRA's release section the Earlier Investor on a which this

revise and objectives, discussion results strategies, of Before as statements. forward-looking efforts, include to refer company's and potential otherwise about costs, receipt the filings financial commercialization than of statements. condition, All that product statements XXXX of including Except federal and other the forward-looking filed historical uncertainties management later operations, will information facts, expectations more Form of by SEC we forward-looking as risks by regarding or timing note anticipated securities to clinical begin, subsequent opportunities, laws, statements partnership statements. please and obligation development clearances, today regarding related well any regulatory today's required statements. for as any statements processes, the and company Please launches required regulatory disclaims XX-K the plans, company's studies, are update and forward-looking to

call With In the said, Thornton, and Chief remarks; will the Officer Chief by to Michelon, that now begin and then Michelon. Renaud over Officer; the terms Commercial Francois Director Francois Officer; Chairman Finance. Executive I structure Senior of today's Mike followed Technology of ENDRA's of ENDRA's Francois? Chief followed by prepared call, Maloberti, turn Pestrikova, Irina will

Francois Michelon

very to recent you made on our our today. with system financial commercialization. discussion and update Thank thanks toward We joining advancing highlights of delighted first of share are you, I'm for a today ENDRA's us Good the XXXX encouraged and results progress Yvonne. for quarter And TAEUS and the some afternoon an global we've by business everyone,

bolsters more, macro our the This in As warrants $X.X our and raise the challenging without convertible a market time commercial several investor through process believe activities TAEUS confidence through milestones, environment very capital call through the U.S. up weeks our debt. overhang Europe our to earnings were you fund to raise of with the subsequent cash noteworthy know, several or to reflects position in opportunity. been efficiently I technology in equity and productive this our million has since quarter operations in system the aftermarket fourth ability six progress, The many our fundraise very for to important ENDRA we our able ramping quarter accomplishments. regulatory close our What's facility advancing including of

few that First, adoption planned will partners. TAEUS FDA Novo the additional we minutes. majority the are clinical Mike of studies commercial clinical and of by research to of data so in our Thornton do helped Novo previous We're leveraging U.S. in in the partnerships to XXX(k) more as our vast are the studies submission advance for on We're a our submit and will support provide details being application De provide the gathering from Europe underway requests track possible. third a data needed De in These quickly as will quarter. our or subset clinical the

global bring property speak out we issued significantly XX Europe but X U.S., our to up third, restrictions our to Year-to-date, also China. These assets pounds including IP And and issued in portfolio, these across to enhance ramping additions in opportunities. our Europe technology, licensing and XX only that portfolio four minute. in the marketing specifically patents. our two protect were a as Renaud ease. efforts not in pandemic sales continue we're activities will strengthen Second, intellectual about

a proprietary a typically announced issued opportunities into for data new expand to patent to acquiring, potential Internet. for connected and and licensing week earlier the this the method patents protects of the analyzing the not company One U.S. on revenue we space. sharing has equipment The

on on within and help system, service was where TAEUS specifically healthcare our market for it out research licensing potential the developed industry lower technology broad industry, and discussions, this could Although based uptime applicability it and has laboratory like equipment, maintenance our thereby studies. to things to now call turn for costs the I'll and on Mike our laboratories equipment clinical enhancing Mike? Thornton, Technology Officer Chief over updates hospitals. provide

Mike Thornton

a This you, at is Thank exciting time Francois. ENDRA. very

kind team, Acoustic to application. the development in incredibly it's Thermo employee as technology accomplished note, unit. energy novel for to clinical and at efforts completely is we the On the clearance ENDRA's delivery development concept the device contribute achieved liver a ENDRA, ENDRA Europe been the application. creating our first Acoustic regulatory from that handheld Our knowledge, combines clinical in of first ultrasound produce detection Thermo and of personal a tremendous RF and gratifying the and partners amount the first Through first one to TAEUS fatty have assessment ultimately technology. team in device a To its Device of a first deployment,

and clinical all new where TAEUS find to with Let of transition exam me the year, fatty observe the sites update U.S. a I day. TAEUS naturally routine very exams. our able to was the undergoing and is user and there the in procedure, to to familiarization display. last study We from U.S. it activities. two liver systems recently interface same workflow, subjects clinical data I technology, observe deployed encouraging on completing curve now each you learning clinical TAEUS sites With recent visited user new exams one

So the third new De importantly, our in a expected this essential regulatory Novo our of and technology end, validation for first I'm progress end February, Renaud? achieving ENDRA this to help research as additional to our site TAEUS application subjects product the the planned as leverage in XX add and trained in site milestone feedback, begin year. validate TAEUS from to Germany of it clinical These staff existing This over call submission not the human the plus scanning markets. will remain to our and data, that approximately sites. new point, the announce To commercial in represents the sites Novo De ENDRA our and new at in the far submissions week study deployed a our to that to FDA is previous system, activities active by announced of scan will and next year, online current provide clinical clinical Europe. a throughout usability the study us support study today and and expected in ongoing come scale sites studies contribute of On will the market now adoption in studies U.S. subjects had update. provide additional expense that features. Europe patients have XXX request is material ENDRA. collaboration are TAEUS And we I'll happy smaller and support this Maloberti XXX(k) as we've big year, data for exams. We Commensurate commercial last the TAEUS goal will quarter. the to we intend to with Renaud process, turn existing confident clinical

Renaud Maloberti

coming initiating really TAEUS in the happy Thanks, on the to months. and to scanning sites patients in Mike. forward look other Germany we start evaluation European Indeed, are

focus from part clinical meeting attracts have the recently conference society in ultrasound show the interested we including site over innovative customers diagnostics liver demonstrated and the be second internal biggest we team. other have for with specialists. will in at of preparing health a medical clinical sites Nash the is in and we over of actively importance device non-invasive typically the in hepatology, by gathering of over in-person two for treatments. evident attendees, the visitors years, DGIM EASL had continue clinicians. new reminder, users. on clinical and imaging to in assess we of for who the liver annual TAEUS it was focused we XXXX study and medicine this Germany. booth, conference the many Like of NAFLD specialists, I This is which the internal first potential the a meetings DGIM a outreach Association growing in system the medicine with to large attended returned need is up, will on event Coming other London endocrinologist conference in Thornton outside connection radiology Mike Switzerland, four ENDRA hepatologist, from a France, a with for European are and our and as phantoms next platform clinical made be along the interest need care in in the our and specialties, will this was Germany. Germany. month. only point and will in Attending two year the in online for -- our multiple Study presence EASL. in the a to U.K., received of as We've staffing reinforce known Liver, was in-person where well specialties, This and street Wiesbaden, liver. the for evaluation As lot at as Europe After new The and held XX,XXX of of conference European booth ENDRA's are participation

partners we're We targeted meeting to be booth. to our in database preceded EASL up ENDRA's leading of looking new product relationships. TAEUS them our proprietary forward by demonstrating and communication will to our weeks a clinical The clinicians cadence and our be will inviting to developing

typically, we engagement, clinicians receiving recognition on can have positive from TAEUS As in commercial growing information our In learn products summary, peer-to-peer from team about extremely are they requests physicians. so the well-trained the us active number team it an and a and TAEUS of product acceptance a share physician This augurs in as and activity their for asking presentations. TAEUS we through trend is ground to of that publicly available sales other Europe. gains prefer well technologies future sales incorporate new to

to segments, new expanding clinical value high endocrinology are outreach medicine. our We internal and including

look conferences XX% and increasing programs rental of by are TAEUS generating for year, revenue this facilitate our new ENDRA. to we adoption we clinical developing to customer presence some as are We forward at

call to first quarter the of for like turn XXXX. to I'd the results Now, to review over Irina the Irina? financial

Irina Pestrikova

you, Renaud. Thank

first results XXXX quarter of as financial follows. for are Our the

For and development. $X.X for due XXXX. same to period to XX, operating higher primarily TAEUS, The expenses was spending XXXX $X.X the quarter ended increased increase in of from our for product ongoing commercialization million March million the

by year-over-year an increased development Our development $XX,XXX expense product approximately research due ongoing work. and to

Our expand sales for we efforts adding including fees. sales just by marketing expenses $XXX,XXX Renaud professional administrative due General headcount. increased our approximately approximately higher described, the $XX,XXX quarter, to as began as to and expenses increased our to by

loss a $X.XX net for with a the share quarter per net share was $X.XX, compared per loss of year XXXX Our first ago.

asset our an model We valuation with conservative light and commercial initiatives continue to structure. operating cost advance

company the gross Year-to-date, we As of XXXX, close raised cash ATM which our million of of equivalents had first through of million. $X.X facility, XX, quarter. million $X.X the and raised in March to cash $X.X was subsequent proceeds

and sheet, as Given cash this activities support De have balance for well funds, FDA. in we're our prepare and our believe we capitalized our and additional the request Europe runway Novo commercial strength to we

call turn to Now, back Francois? the I'll Francois.

Francois Michelon

much U.S. regulatory a process very include I'd Thanks They significant summary, milestones plan on and year. the request TAEUS Irina, we're first and Mike. this submitting reiterate Novo to the like Renaud advancing QX. De achieving for In focused through

regulatory clinical Second, our with support study the commercialization. additional demonstrating and value data our submission sites strategically by TAEUS generating to positioned

for portfolio and TAEUS to opportunities. potential intellectual additional marketing market. strengthen activities securing commercial industry protect and with the expand global Europe. end finally, our opportunity generate reopening outside to And our for the expand in TAEUS us line and out proprietary to orders property areas use, technology, of our increase channel licensing the partnerships accelerating revenue continuing clinical to of Fourth, markets Third, in user

So call with highlights, now financial open our that for review questions. of to results, the I'd Operator? and business like

Operator

question. Our ahead today [Operator Wainwright. Vernon question H.C. from go your Bernardino Please Instructions] from first comes with

Francois Michelon

Hi Vernon.

Vernon Bernardino

Francois thanks congrats question for on taking the and and my progress. Hi

insight, Europe payment? the is if happenings you more could to I give and if there other little especially wondering you you as growing wondering detail made intriguing bit the far coming are Just a more little comments people how was about and bit interest talk as in a the

Francois Michelon

you're let's the that maybe if these Renaud that think, executing as in as themes Sure I at some and Europe? the and a hearing feedback sense of well surpass of some Renaud you were could give that tactics conferences of us anecdotal and

Renaud Maloberti

I Yes go how Vernon. Yes, question. hi, are no, mean, for you as absolutely. the you we Thank

Europe. understand in liver specialists in show their our becoming going As it in really interested technology start person back to requests conference very we stat are Lunch to in various their conferences can Europe, clear trade and materials had multiple I health population. or when to patients organizing order to in us us in whether more they hepatologists sites asking We're endocrinologist technology our students. as we on that their Europe and We've on at and own they're very are patient colleagues commented and is physicians do partner more have GE from their as as their about demonstration. in earlier, friends was well Learn with multiple multiple for different they our talk talks and talk And and

high So I see the the that the technology in from solution existing uptick a we interest liver differs existing provide, and measuring of very of ways well as fat. the as in how it the

Francois Michelon

an GE used technology are their device which it, when but you what a thro-medicine own care, back or we just medical you element settings. the I combine of wanted are point ultrasound. an size or laptop, started these have are emergency we're that be solution if know, portable divisions, talking like rooms our the typically might part business hepatologist, if or of in an the ultrasound, of to called iPhone, I other a doesn't Renaud, could to And companies GE their in non-radiology the way attractive of that is ultrasounds have Vernon And who increasingly seeing size an Hi, on of strength, necessarily endocrinologist the in that with with radiology. as ultrasound, lot you to know, in we're I that are radiology including

about discussions customers on with are work with GE and and more their draw I market as regards hope many So field that partnership evolving in learn actually the the we're and we that's needs. finding helpful. as us

Vernon Bernardino

perhaps, it very Do my how would use it's segued it they wonder asking and may much of uses neatly know that that might that with too cost? ask have who doctor it. question, imagine how them what any I because is, ultrasound cost ultrasound. a with but people early, how and entail? second Definitely I already familiarity additional were They to

Francois Michelon

we price our doing in think far for But a for in gallstones all price as getting. we I were reasons the the price when difference an is because as originally and know set we we so setting we're setting what Sure, Putting there's strategic could price started now, hearing be in between our something of certainly $XX,XXX, the XX,XXX the liver technology price ultrasounds investing marketplace U.S. appealing radiology, for ultrasound. the other many are is that $XXX,XXX today ones is $XXX,XXX, and and

point technology consideration. add-on price their a certainly enhances an our having that So ultrasound at in reasonable something was

received. in know And programs the feedback your additional to of so comments the we're we're has I the putting been Renaud far, any Renaud feedback, but got acquisition along rental technology getting, don't place certainly additional that facilitate with well Any if side? you've from

Renaud Maloberti

well received that No, I think been very by the customer. point price talked the has and we about have accepted

point when we get that should around very we to price I be sell. price that am confident able So that point

Francois Michelon

I to hope helpful you investors? that's your thanks. and Vernon Great,

Vernon Bernardino

think days, the everybody's these taking things. my for I thinking of Thank follow question. about obviously, cost up and you because question Definitely,

Francois Michelon

you much thank Always Vernon. so

Operator

Capital. And from Edward our next from with Woo your Please go question. question comes ahead Ascendiant

Edward Woo

up what on are congratulations guys today? is And clinical in the site just your partners first to also actually your quarter all your progress timeline of on and and many Germany, in them the eight how Europe, scanning or get study Hi partner, first the running?

Francois Michelon

Sure.

going So we that'll mentioned, our site with third German the be just site live.

activity, described all have running up goal obviously. And remaining permitting, is all getting is up because the mass patients But essential to them that level we a a scanned, this goal I running to be pre-market phasing and more is a large we XXX really of for certainly like here have would the as to And considering of critical feel Thornton year. the and upwards our have study are coming extremely emphasize commercial that's submission approval over have support path, new purchase, a certainly a patients device also say able in to support want that's not a at invasive drug months, novo needed I level, this a as PMA, reaching clinicians the to patients, even way them new hundreds of to We FDA the with sites for of might Mike be building. able called. being to many COVID both they're all the confidence who an say hey, de or to always scanned long-term regulatory

be So not we're definitely in to to work do have already hope and we've we clinical have a started. complement I back able more, of representative of within a fact we've done, vivo as come we be this greater to the FDA flexibility to able sites FDA prescribed in we'll define that's cohort even that and the of point, the going to at pool won't add certainly, volume with it, data that I because to helpful. And the got terms data. has

Edward Woo

then in helpful, you in your of progress devices That CE until a Europe been, do do UFC a FDA lot like already obviously, get know, on, you is Europe Mark, US? you approval more anticipate, your congratulations in very in marketing the know, of lot focusing you [ph] the

Francois Michelon

prestigious I of our careful been thin. to approval the sites focus believe very, add us very we spread running very forget start too regulatory key Europe up the our diverse in how give clinical ahead study but approval think France, Germany, do large should will the the in certainly get culturally large, often on I as in in a And when mean markets although have a salespeople ourselves people China, the healthcare most with to investors definitely. it's, be which at to that's in populous we're is, all attention Hospital and And on attractive. Asia, Americans, I from here getting also, market But in to know, we in Absolutely, world's UK. in going year, we you Europe yes trying earlier and capital, we be what be We the hear the the Shanghai focusing know, market, by in head ground we we've the market. there, Obviously, we we're want certainly not be not and US. very after time. U.S. same healthcare our a to we're to and as you preserving and say I turning return to is mentioned One highest signed everywhere hear General Europe, we think is, the as I U.S. starting partnership will would the want

Edward Woo

you well, thanks luck. wish for I and answering you. Thank Great guys my questions good

Francois Michelon

so you questions we Thank received Yvonne possibly much email? Ed. additional have by any

Yvonne Briggs

question got licensing we Yes, patent regarding the discuss you issued with one opportunities further transfer? recently data the is can

Francois Michelon

that's Yes, actually really exciting.

tissue change be that cancer of patenting, temperature surgeon are turn And opportunity, five it active companies you're very tissue other technologies. able to game well radiologist been treated focused who the a we you on it. today, heat to who's comprehensive do has easily of think changer that's that applications kind one when you things skin. enabling see interventional a as or conditions mentioned because involved liver I freezing burning that acoustic something Andrew a or Mike Before see for temperature compelling before, sense the as a or in no to there's very in way range that years, fatty treat thermal below to I with to monitoring, We've applications real being the cold. over those trying and real or know, to cardiological and of spans contextualize I give could innovations mean, last are allow that

clinicians but to know, obviously So, do have their to tend very they visibility that. limited best, you

this we a on of for to love that's space. for key TAEUS. want this and derivation to space a platform. Mike some the I think about ENDRA Thornton Ks And new doing speak bit is So emphasize a more area we But I'd were that little work new

we're this very incremental is company. This an of is the out-licensing for excited So ENDRA, about a perspective. from which pivot opportunity not an

give a you great. us the most recent U.S. point, data would of So be sense Mike, if that

Michael Thornton

thanks. way. most and performance Sure, really the Patent novel data issued broadly a Yes, the U.S. recently in of equipment covers transfer

data of often Surprisingly, wireless in or is Specifically, our from downloadable manufacturers not metrics enables of types by lot copied service easily a and service to equipment automatically of network and extract performance is conventional equipment techs information laboratory available. patent that by where field. connectivity diagnostic hand, other isn't the

fairly of a is IPs ENDRA's this inefficient potentially imagine, beyond Cortez renovations technology. and can far [ph] an you expanding this process, As example

Francois Michelon

Thanks, Mike.

efficient to I distracting One, exciting. regulatory we're securing investors generating way I mentioned, two a also Europe, making might without as you approval. mean, success an which in including as other things our liver from know, goals, in laser we IP out-licensing advancing listeners us. from ourselves that technology leverage that's Mike from opportunities hear well we're revenue, a those our want be I very focused the and on from But can think TAEUS us primary platform, perspective. interest that of

So I compelling. think that's

now. I understand operator if broader scale we're but call year. to the immediate we're to great else, the we the anything think this longer can focused I things and we that business forward don't some obviously close Yvonne looking potential achieving have think on term investors

Yvonne Briggs

for me. it That's

Francois Michelon

Okay.

Operator

with Ladies conference joining and We and do gentlemen, thank today's today's and conclude will you that presentation. with gentlemen ladies conference call. for call

disconnect lines. now may You you. Thank your

ENDRA Life Sciences (NDRA) 13 May 222022 Q1 Earnings call transcript