NDRA - Earnings call transcript Q2 2022 | ENDRA Life Sciences Inc.

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Operator

Good day everyone, and welcome to the ENDRA Life Sciences' Second 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 would like to turn the floor over to Yvonne Briggs at LHA. Ma'am, please go ahead.

Yvonne Briggs

Jamie. you, Thank Briggs Yvonne This with is LHA. and XXXX quarter afternoon ENDRA's second 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

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

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

Francois Michelon

strong Acoustic quarter we in liver enable Despite within for TAEUS today plan model base our financial update generating a milestones UltraSound us the uncertainties for advance of felt for I’m you million as the second on of quarter challenging cash as Good finished advancing our in with including our the operating and as results Thermo ENDRA’s achieve activities the the markets, happy cash. This disease. to we Thank Europe. global afternoon business highlights. process building and assestment early economy combined second you balance Yvonne. known novel evidence which runway was Enhanced Thanks discuss a to joining everyone. U.S. and progress business will in TAEUS $XX significant months us sheet efficient financial with in and the with commercialization capital the sales the accelerating coming clinical regulatory our to

commercial our focussed on areas; in the of We submissions four the activities and building one, clinical number be continue support U.S. to to base priority regulatory our following evidence

and U.S. our another that I'm ramping global clinical system We’re evaluation sites, delighted in study installed clinical the announce we've to TAEUS recently

bolstered a reaching has of year, U.S. to FDA A by recently commercial generated the for in in the year-to-date. TAEUS the rapidly capabilities times activities other offensive XX to by This TAEUS the the has times defensive that advancing minutes. we're on priority parallel in system will these year, to in total ENDRA manufacturers clinical these But equipment adoption issuance technology patents We a speak such which of pipeline. process. markets, laboratory expanding to of patents will issued of end. their our first more service sales our intellectual underpin activities Thornton, novel and issued commercial in clinical being a reduce Chief support our easily scanning year regulatory half property other of help enhance to for connection. compared partners of not call cloud is by TAEUS the moment. XX in U.S. out of to companies fourth our This their to XXXX data from our we And ENDRA’s as portfolio de XX last XX% current opportunities. markets, collect the updates submission diligently are in globally, I'll Technology turn helping commercial the number XX which in conferences few Renaud and our our Priority we're the to of accelerating catalyze evaluation our several demonstrating a sales our the medical portfolio, to licensing clinical growing our more equipment, And track over portion and marketing activities our are with and details those as Mike Mike help provide IP over patents Priority our Mike? in by have of least developed particular internet a also note, system. will leveraging focused announced potential XXX Thornton new potential costs. it two, and the on to may enabled sites own some clinical this was And novo of could three, quarter. which evidence to goal that's at technology we're reach patients key equipment, connectivity devices. the such we're on to number evidence Officer direct issued provide request, end

Mike Thornton

and trends, clinical Thanks, activities. are collect conference encouraged ability largely We're Francois. accelerating. and is us. up follow global data last our on by to I'm ENDRA’s happy call COVID with to update clinical behind an regulatory of our restrictions

has more recently in these installed of coming TAEUS activate track reach plus scans performed site evidence been U.S. increase patients sites of on The study XXX goal additional a a on sites which the growing XXXX study participants, from will TAEUS it in support our its we from been will the have These to scan for assist end. we the current year novo to pathway building. TAEUS by sites team this this, request XX% data are data in commercial renewals system TAEUS new converting novo clinical position A technology, and that us update at a a than the provided strengthening be to also with normal clinical study subset to process entirely product de the and plus keep sales since to XX our TAEUS. distinctive essential plan unique of is be Today, de our of months novel. in As sites an of pipeline And provides will our in will FDA our leads for to capabilities healthy new adoption will key classification May. competitive the clinical

application submit to and testing, novo the We're documentation collection collaborators the the supporting a clinical our to the validation, the FDA of end novo data Our the for our of submission. quarter. request goal completing remains the required process third of by de for in and de

an now and we're ENDRA planned chain TAEUS we times issue. inventory all vigilant over supply Lastly, operating are application. the where feel on-going the in of to Renaud? control global parts for that our maintaining we've I'll shortages and lead to over commercialization update. remain supply call Renaud supply We initial Maloberti turn liver a climate and as a components appropriately support the commercial

Renaud Maloberti

market Thanks, Mike. months busy few We've efforts our been quite over development past come Europe. in the continuing

scans quarter. credibility that clinical TAEUS call, we are the site performing with gathering the mentioned TAEUS evidence subject we marketplace. the Germany will clinical system our at a and And on system, data we strengthen last in in routinely last installed As

We the and up with other the are expectation international running to patient sites year. get excited about our Europe progress this in in scanning

these the meeting in we research Association is the London, great additional Europe dedicated our posters in the the liver we of and Europe meaningful an the in attended fat will the to continue Congress focus U.K., current with patient clearly Nash premier to three April for physicians clinical International Switzerland, and and plans, evidence a at and XXXX research as time EASL an attend topic. ILC In XX bodes hepatologists. believe help That German key conferences XXXX addition first those person was person to which product, that point-of-care related the provide COVID-XX. second to in liver pathway. well years sites dialogues we June, one we cancelled and Germany. site understanding for clinical the those of of our technology to over was well trends, This for to disease NAFLD system new over a the key presentations, attend entire four the activities EASL, early liver the to And to day consequence demonstrate site, have including assess our plan Liver site known commercialization scientific France, conference remains talks, great European inform hepatology European In from conference a scientific the International the and ILC with or Liver over catalyst have find success. measure ability accurate, for evaluation local non-invasive in need opportunity Study adoption a clinical as to was in care Congress TAEUS see a of markets. in And attendees. with as in in first

unique known two had is for on the in also Zurich, years. person countries. focus in We the Drei Conference held German a booth ultrasound as Lander Treffen in also DLT speaking the in in conference time a DLT Switzerland, half The at and first medicine the a

phantom remind has the value with at incurring clinical clinical various relationships sites their how Hepion time specialists hepatologists before we on early. fat or and helping as at EASL were meeting to conferences biopsy on partnerships. patients to radiologists, our speaking understanding such, and front to MRI. the listeners in medicine booth interested we clinical of pilot track in technology well the leaders partnerships, one partner I As TAEUS our demonstrate in pharmaceutical as able of opportunity We end in us a efficiently demonstration of that with it our And the develop as Hepion fields, better all an companies committed study as studies, gave internal TAEUS to a perform fall. liver meet the These opinion well opportunity to clinical screen endocrinologist, Pharmaceuticals of remain very liver explore positive potential expense at detect to great like key and ENDRA ILC. had TAEUS

As have sales that our study the the team catalysts be In for highlighted, the meantime, key is clinical building building data will sales I for partners. awareness rapidly system. actively our TAEUS from TAEUS our clinical is

beyond expanded clinical our value I have internal traditional calls, including efforts ultrasound As outreach discussed on segments high into medicine. and endocrinology have and previous

our As generate to TAEUS at A story, clinical and liver and clinical ground growing confident so a together. sales, and need sites. people ENDRA key on the conferences represents market local in clear soon are coming elements the sells we measure our we early all telling field, fat, ability focus evidence are to country TAEUS from adopters in on the unmet clinical

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

Irina Pestrikova

Thank you, Renaud.

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

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

development by product and development approximately research due work. expense Our on-going to $XXX,XXX increased year-over-year

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

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

accordingly. our maintain structure for TAEUS, execute the as our continue And plan to adjust model. commercial regulatory strategy to We we and expense we asset-light operating

support cash commercial June of our capitalized well second gross and XX, our raised of of our the million in ATM believe for XXXX, request current we in through $X.X $XX the are With cash proceeds and the balance facility. cash we As with sheet, we had Europe. million. we quarter, to continued preparation equivalents novo de runway activities In FDA

to the Now I'll turn Francois. call back

Francois Michelon

Irina, you, Renaud and Thank Mike.

listeners, our recap. a For as

focused we're year. milestones key the are Here this on

scan to of all be by our efforts. end subjects at the support used regulatory TAEUS and it year. with track XXX of data of on this subset for A least we're U.S. commercial will will submission First, the our

for by request out, TAEUS the working the as to pointed end complete de quarter. of third Second, Mike liver FDA we're the our novo system diligently

we're market to our of our use sales, our generate fourth, Third, areas in activities enhance And areas licensing commercial awareness expanding potential and clinical with technology expand portfolio proprietary aggressively and we're last conferences this priority demonstrating geographies property and its year, accelerating including at protect opportunities. to intellectual compared XX X year.

Operator? now the like open I'd questions. So operator, for to call

Operator

today ahead question first Woo from Our with go Edward Ascendiant Instructions] question. [Operator comes Please your from Capital.

Edward Woo

Yes, thank very my question. you My of kind is broad taking for question. question a macro general

system, both as impact little consider does your marketing that As U.S. the the economy in in a shaky, gets Europe? you how bit TAEUS guys and

Francois Michelon

this is I'd for we pointed one, which many for well an distinction Ed. Thanks as market. saying, capitalized, companies out, question, in the start important by nowadays we're volatile

disciplined. it in we're hired with those those well as salespeople doing database And focus about floater. way, to ground CRM very, on highly that I say, thrilled been are the see we in from then as we but geographies. tried and a that. U.K. things always collaborate way. our and I profile and can We've then elements we've So do our financials employees, where can. XX capital third, clinicians, have Renaud focused Number pan-European We've markets France, under very very working administrative is in key two targeting efficient. And G&A Germany, the mean a individuals other, and our are a in lean would in really our of you

market of to it's right We again, radiology closely in and the that technology we approach. do we starting understand working as the we're was partners. But more spending by are think money back sort with how question to are that equally, not areas, So this and to exposure therapies if the hepatologists in started of radiology. point. we interested grew endocrinologists your great know through to And how out I come a

customers. with their do only who with us radiology also not distributors. have But GE to So partnerships we we've partnered high-quality introduce

commitment For with Vietnam our distribution X systems. in example, XX to years agreement a over

know, of Renaud, out trying any other cash-burning money. you terms and like do to commercial expenses. if of comments don't other we're we're an smartly how you'd our costly have to I not So add activities in or and salespeople it army build spending

Renaud Maloberti

No, right. I think you are

well identified one through very we've We the are clinical conference. have as you discovered segment focused on the that as the

we've as leasing the tools economy so spending still system or many try the to out customer that with in talking building regardless will the to our of option, help we're And very And place the than are clinicians acquire example. to far, we've such put rental and who eager painfully many, for been potential system there. less capital tools,

Francois Michelon

hope question, I Ed. your answers Great. that

Edward Woo

the on curve? a do curve scans there and far. they learn much quick going Yes, for it or there on, so faster system? they people congratulations is and does, better a learning it as XX Is TAEUS learning the getting Do pretty

Francois Michelon

perspective. than stakeholders with easily ultrasound regularly sites very endocrinologists and really as to sites like require little, training. think U.S. those it for and have comfortable highly users hepatologists Mike they cases, going going ultrasound of I'm all XX to as say in than minutes to technology, are types then sites, in But learners as are others. of answer perspective, tend use more some radiology the Europe will Other I our own clinicians from Yes. of deal all in I'm to experience and some faster my and as of And turn over part interested his and frontline different in some I you who are use we do and

use be I to another of specific system all: don't you in clinical not in with a few more if And user-friendly. thoughts an hepatologists again, think they designed is matter learning and to it XX have that. is a interest; curve hours or our get skills have matter said there of of b, the it's just I our a any here radiologists And we've a, experienced as know it's that they on way, opposed minutes. other to than system. so can Mike, more a there does U.S. the And take natural a lot time, But

Michael Thornton

study as making a definitely And process the a that them, of it's training only effectively Well, of up but part very is not data. described, clinical new isn't collecting ramping which Francois Francois. Thanks, complicated site technology. Yes. they're sure

identifying use So over capable the just user position, is the place it's incorrect located when is of anatomical we're important that to data as that as just incorrectly. is to probe quality to that or the they've the how know it collecting high system ensure the and

the curve, going clinical accumulation happy data. the So additional far and of data so active of yes, have and we're the of a sites there's the that But our by bulk to really adding forward there and on with absolutely doing. learning of and encouraged what what's progress looking we're sites generated increasing part that's really two our

Francois Michelon

Mike. Thanks gives I question, hope good great that -- answers Ed. you background your and

Edward Woo

Yes, good that’s I and it. you. Thank Very helpful guys wish you luck.

Francois Michelon

do Operator have we more... any Thanks.

Operator

Please Bernardino H.C. next question. with our Vernon gentlemen, from your Wainwright. and ahead ladies from And question go comes

Vernon Bernardino

Hi and scans. the scans, in a ramp-up definitely see of team exciting XX on to number quick congrats the TAEUS

different that's data, wondering To will way. and Just -- data would of if could rather Because collected present I And obviously, a scans. you had but mentioned, system. kind plans a obviously, question if sooner to be some me, of your you are could is and ahead those TAEUS from be commercialization full-blown was something some exciting plans that's you have of in tool marketing maybe those of that there. of present as the be what as a presented that something just than not -- later.

Francois Michelon

Sure, question. sure, that's sure. No, a fair

So to which led independent sites. have we these as we their independent also publishing balance availability, one is rights. to They pace, respect the we are support. of things their well investigators, that But as by have are

adopters early relationship who good So we a ENDRA. type and of technology and tried have also are this to to eager open friendly with find and try

some how leverage for have right we point, you fashion. progress. able time at the a they to point, data effectiveness. the that are be leading think in sitting be effort, to So today right I of Mike data, this sharing on really we'll don't their share Thornton, think data And public I'd going to the believe that I they're do at I maximum thoughts, ask if this more who's Vernon's

Michael Thornton

Yes.

belong So the and purely or the a studies and the studies academic are tied really we clinical drug. complete whether any investigation, need data device -- just to to it's investigators, with or a review as the to

So and with as effectively the our the work main job complete as to them is to effectively and quickly sites train studies as reasonable. just

Francois Michelon

I Vernon accelerating we're listeners, the leaders They hundred patients as seen, you've are our be in several and collection patient XX to total. about studies. of these And Mike, confidence are designed well you, large And would progress. add, as not quick to their were And making give study as data.

to So year-end speak some we'll sales, fact to information. before least, that wanted own to be the manner to; I question, I support at answer that don't your able in meaningful leverage think But sensitively just we these per studies se. to

and find publishing strong we'll balance have is investigators as balanced privileges, and with relationships, positive We information with those share an their I both support, investigators, that well hope of as Vernon. and clinical key the ENDRA's answer, commercial relationships a which the right honest but for that. to that's element

Vernon Bernardino

No, are of I is there's bunch just potential scans now potential excited you're that these there for a telling than I'm you small independent up for some the sooner me to of and is. presented because, And And XXX. XX whole that be later. studies, rather asked to with obviously, now studies

to very and So successful Congrats on the results. further that, discussion. a forward looking again that's hopefully,

Francois Michelon

our like thank progress have updated Well, business our and a any we Vernon. Operator? next forward conference listeners and evening. always, I call, you speaking wish operator, advancing to of on plan as keeping our and ENDRA's you don't you look and us quarterly good we Thank today, to questions, for joining everyone with more if I'd

Operator

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

now You your may disconnect lines.

ENDRA Life Sciences (NDRA) 15 Aug 222022 Q2 Earnings call transcript