Earnings call transcript Q1 2023

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Operator

Good day, and welcome to the ENDRA Life Sciences Inc.

First Quarter 2023 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

to conference like Briggs. to now would turn over the Yvonne I go Please ahead.

Yvonne Briggs

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

facts, as are note statements. of partnership than the opportunities, as objectives, begin, statements. forward-looking clearances, please costs, receipt that statements and potential timing regarding historical expectations All commercialization statements regulatory by regulatory processes, we will operations, well forward-looking today's company's efforts, anticipated results Before include and the of other statements studies, management of launches condition, of product strategies, including regarding clinical required development and discussion financial and plans,

required Except the and SEC to any more risks or uncertainties revise by laws, any company's information forward-looking filings disclaims related XX-K securities Please the obligation as and statements. the about subsequent update fiscal to year, Form statements. federal forward-looking for company to refer XXXX for

by will terms Michelon, Chairman Officer fourth financial Pestrikova, Irina call, Finance of review today's prepared of Technology to begin Mr. ENDRA’s Thornton, results. Francois the the quarter be the remarks; Executive Chief In followed by Chief and structure followed Officer. Michael will of Thornton Senior Director

over Francois? to With that Michelon. call will Francois the I said, turn now

Francois Michelon

our request data we've Thank Thanks business clinical US financial results extremely and report pleased the the collection I'm to to novo you, joining XXXX completed Yvonne, quarter good to first discuss and afternoon, everyone. FDA. that Endra's today for de highlights. support us to

of of XXX Fatty performed NAFLD, we stages to at point interactive Non-Alcoholic scans patient earlier of the TAEUS subject tool, ability measure Liver will scans with than as Disease, and our demonstrate fat liver the care. been the more in Collectively, believe these guidance have known

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appropriate patients the to be the identify diagnostic The liver and those size. therapies need disease with estimated is of patients in opportunity response practical NAFLD The advent intensifies diagnostic drugs. for clinicians then the drug $XX.X to of first on monitor annual billion the targeted market to tools

care characterize gap to non-invasively, MRI. XXXth, accurately the that TAEUS an help and of the of point clinicians cost liver, fill at aims the patient and at

the as at for data request, novo TAEUS' for our collected to needs the clinical and necessary unmet potential represents assess a have point-of-care, excited we're these the very company. to significant Given liver fat it milestone de

XX total This creates only patents, issued progress technology, increasing in out-licensing. made some we've filed far our not patents portfolio XX year, significant property, with also assets. this our patent so great intellectual and to but here, newly issued Turning the protects seven portfolio too, patents opportunities bringing to for growth

to company's net able were market we million conditions. balance upsized quarter, capital despite raise with proceeds the an sheet in challenging of close strengthen capital $X.X the the the to subsequent of Finally,

participation the and as deployment. for achieve commercial thank investors submission to and FDA like to of milestones, company which long-term We'd key insiders such positions this ENDRA capital,

Mike progress. Mike? detail clinical for on over to Okay, our Thornton

Michael Thornton

QX able you, clinical Thank In produce we sites measurements, variability. with commensurate that TAEUS obtained update, other measurements And that systems' is been high higher exams had XXXX. TAEUS capabilities high while to in study repeatable Francois. some obtain users that participant reported XXX at our users most recent have significantly our repeatability with over study observed our were to

training that measurements we aim with the the graphical positioning sites, With feedback assessment normalizing of of our tools additional efficacy user the clinical user and study aim valid collaborator regarding liver probe to fatty with deployed provide system. user of producing guidance our the performance across operator

the in this improvement February XXX our time users with obtained procedure tool. at have Since of our user participant collaborators with year, three more clinical and reduction sites exams overall than in highlighting The study guidance from feedback been positive has overwhelmingly users usability. the clinical

measurement. completed exams TAEUS typically fatty procedure ultrasound for These that in liver minutes, including our XX assessment required the is localization were

we've novo gold with MRI-derived As the the prior necessary to to package reviewing exams that the completed FDA sufficient have data a We submission. NAFLD we submission. submission, necessary of TAEUS de standard sufficient of our for now the process associated markers, our upcoming quality number believe exams support in and and are

as to In will novo our for the clinical our addition to existing collection we'll for future commercialization. markets clinical system. TAEUS partners reference the partners We're study work evidence and to de key current sites submission, continue to add fortunate the have in data to clinical support that very serve with to global

assessment announce fatty of International to been Study for at a by of featuring disease for that has Vienna. Liver accepted June the Liver Acoustic in clinical presentation European the in abstract Association Thermal ENDRA's liver the Congress pleased also the I'm

differentiate before deployed. sample in software published ENDRA's abstract June, introduced fatty study the the clinical abstract and in the the XXXX at moderate be we tool US from potential as derived cohort mild or scans disease. early measurements before the of obtained size was liver to a performed well participant is early tool, single guidance as a the will current which severe was to guidance MRI-PDFF highlights exams of a site TAEUS All correlation TAEUS' were small

Medical introducing forms the approaches presentations XXXX expect new of Association This we performance. technologically abstract new procedures work conference journals and several the peer-reviewed will ENDRA's of publicize the that primary be only Scientific innovative adoption drive the the clinical for conference and in initial and are turn, and of management to first to presentations what diseases in technologies. is and

to abstracts to the the abstract multiple of the ILC to Summit. the European addition we Association Liver for meeting NAFLD American the accepted for In plan meeting Study and in Disease June, submit European

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

Irina Pestrikova

you, Thank Mike.

quarter Study more the For XXXX. X, ended

in general operating development were decreases Our were expenses million, expenses. administrative offset and research in $X.X by and and from and expenses marketing unchanged XXXX. sales Increases

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

the sales increased decreased approximately our mainly General marketing departure for to $XXX,XXX Our by fees. the expenses $XX,XXX on of due quarter, expenses due Chief and approximately increased spending to by legal Officer. and administrative Commercial

loss XXXX. and of share were of per quarter Cash $X.XX compared a was in XXXX. first $X.XX first share cash and March in loss million equivalents $X.X XXXX Net net quarter of with XX, the as the per of

operations proceeds company our with current operating approximately raised to of into a mentioned, just We pretty $X.X close hires subsequent We model XXXX. net registered in team the the believe quarter position maintain provides in the of quarter, Francois through our in runway and growth. the fourth capital million anticipation As offering. our of asset-light future commercial

strategy and structure we to activities. regulatory accordingly support our our adjust As we plan for of execute commercial TAEUS, in these expense

the turn back I'll call Francois. Now to

Francois Michelon

three messages away here In from I'd like thank you, Thanks call. the Irina, very this key take listeners are much, and Mike. closing, to

which novo First, we've to the collection the submit we support to de mid-year. TAEUS data clinical expect of to necessary request completed FDA, our

addition, clinical sales clinical to in commercial data to value team propositions In leverage Europe. our this with efforts strong arm further we'll our

expand of These have specialties, clinicians a awareness technology, entering abstracts. to the a approval. radiology, where clinical CE research maintaining accepted center latest we're Society presentation of the in our hepatology major clinical Europe, we conferences learn marketing steady about We're at activities in level our TAEUS to activities key participating European papers new endocrinology a where of to with of new first regulatory particularly publicize abstract and and range awareness on for Clinical through with of clinical Second, go system technologies. cadence continue TAEUS peer-reviewed market the performance and we'll in a TAEUS and June, additional

commercial third, And submission to fund position we're raise, achievement FDA the milestones, capital recent in deployment key a with in Europe. including our solid and of and finally,

to love So to with turn Operator? questions. I'd over that call overview, the

Operator

from comes begin Our Operator: question-and-answer the Ascendiant ahead. Edward with Please Instructions] now question go Capital. session. first Woo [Operator We will

Edward Woo

novo on it's you find -- on marketing approval couple submission. US? on in My question anything de of been for useful learned you approved congratulations the the terms do years. a Yeah, Have when CE that as progress the Europe get may is you the of in FDA's in

Francois Michelon

Yeah.

-- first – question. learned of think And I so all, great we've just I much.

today because first our are initially ones I cetera. foremost, performing that for we a of and other not liver gallbladder scans be sole the reasons, if lot et ultrasound think, radiologists the primary, target defects, believe would radiology

is their simply to a So to we fat we nice we've of what new radiology. there's would interest realized capability add outside considerable liver thought measure But arsenal.

and see obesity also and deeply conferences Hepatology, disease approached opportunity mentioned being are prone disease. is acute from drugs clinicians, And diabetic patients stages they care these these of gastrohepatologists. very we advent gastrohepatology of typically more the to as by to those treat an targeted NAFLD really and gastroenterology. a and the with of to of for more liver going study the upstream over advanced see subspecialty And who specialties the liver NASH, the patient specifically endocrinology treat that to and inflammatory the with get involved

the and learned the commercial primary with have capabilities and have arsenal sector, opportunities liver thought, the them imaging I'd which to hepatology, providing endocrinology, on them new diabetes, the patients that certainly obesity, enable care in And fat value particular. from domain. biomarker, activities important that say help tools for to new to that we each an with segment adding market really is the than manage bigger lesson So, proper liver propositions of is to in to we broader radiology, take than and is radiology positioning first their focused

takeaway in say the important I and been the So we've would very most that's encouraging field. as

our from I'd what with? if actually, thoughts inform any interactions Mike you field, the Thornton, have could learned in listeners ask might have we that your you

Michael Thornton

Yes. Francois. And thanks,

in a to other and the semaglutide fatty the be GLP-X the I think prominent market, for I'll on drug they've NASH just space. all drugs seen health add agonist approved. We've development come that liver been we've side. become on drug waiting and But very that

So, associated liver these I disorders. drugs about diabetes, excited weight monitor fatty having that disease impact pretty liver reduction metabolic are interest and and think the the fatty we're on to

Francois Michelon

question. Thanks, hope Mike. that your I answers

Edward Woo

Yes, are very you guys thorough.

thank much your with So I you, you very wish guys’ Thank you. good and luck submission.

Francois Michelon

much. Thank you, so

Operator

are to this for would I over time. closing question-and-answer second. more to Michelon conference There at Francois This the back no concludes the questions like turn remarks.

Francois Michelon

[ph] and on made listeners, with wish evening. we've progress the with the much call, thank all you us quarterly and you Very a for we today, so Jordan you. and today. speaking you Thank conference in joining look months, keeping you you the good and forward our updated to shared we next about coming excited

Operator

The is concluded. conference now

ENDRA Life Sciences (NDRA) 15 May 232023 Q1 Earnings call transcript