TFFP - Earnings call transcript Q1 2021 | TFF Pharmaceuticals, Inc.

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Operator

Thank you for standing by. Welcome the TFF Pharmaceuticals Inc.

First Quarter 2021 Financial and Business Results Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions] Now I like to introduce your host for today’s program Paul Sagan, Investor Relations. sir. go-ahead Please

Paul Sagan

the teleconference forward-looking differ results and this statements from and forward-looking earnings made. cause that known to Officer materially that release XXXX results Hello Clinical statements quarter to operator. and me welcome TFF Christensen, Chief the to today actual in to subject Financial Coleman, Thank risks Dr. results Dr. the press of Austin; TFF’s it’s Chief Cano, Pharmaceuticals’ Williams, Officer; SEC. financial pleasure the Exchange release now, section the our call risk everyone the take business to Form Bill could announcing Chris first Dale factors both these disclaimer to a Commission, of and unknown uncertainties our Executive and US the Securities are President And on filings Factors Mr. in XXXX in Glenn Director With actual University about TFF; results described Report Pharmaceuticals’ read Kirk and of is press may is first and statements Chief filed Please with Glenn including on website. of my the XX-K include differ the and are quarter to Officer. you, The TFF’s release. over Mattes, and of Mattes. TFF Development; forward-looking turn conference Texas A online call. available the Annual at moment Operating statements disclaimer with cause our

Glenn Mattes

company’s recent joining review for you and to and operations quarter the Good afternoon, highlights. first today thank us

Bill the where particularly Freezing offers groundbreaking approaches. important other formulation development important ask our are work for of our powder And Kirk some update your data Dr. the Dr. update liquid done Chief on nanoparticles thin-film Thin the technology will about provide And business University that advantages partners. Texas with on application mRNA us then our initiatives also Operating on new Then Chris well will being as to then the our the interest technology and our of to generating review some corporate will clinical Coleman We're in on progress the company's to Williams happy at of update vaccines, Clinical Cano, Thin part of Dale Chief Head we biologics, from Development, for Austin, and technology the seeing we have this Film about and up were the over Officer questions. Financial in of Freezing open us, Business specifically, programs. will internal operational drugs, company. we'll with freezing progress; the lines and research and Director making biologics. our academic of financials. institutions, talk During And And clinical I dry as leading our and the Development, of are Film industry, pharma us Christensen the an of call, who world's the capabilities I'll of some types Officer, biotech are enormous

pleased on can trial generated once achieve just first two Freezing begin that the of Christensen that could blood Tacrolimus potential differentiator. daily, dose made We're As with $X inhaled both indications combination collaboration, of applying our from we niclosamide Tacrolimus our variants. two that to shortly. prevalent, powder last Tacrolimus Film is seen UNION by moving Powder report indicate collaboration to our In in strategic formulations excellent will XXXX. as And venture dry of yearly in these based patients suggests for for a niclosamide, low undertaken for and period indicates new levels daily trials. agreement COVID-XX. our Film data clinical recent allow and Inhalation And joint Tacrolimus. South important recent against true partners kind patent antibodies, further significantly for used are you highlight our UNION potential niclosamide filed this a worldwide recently for the on The progress our data is and data dosing just only the is immunosuppressive well. the worldwide our also research we four market in since well. us efficacious, significant therapeutics been COVID-XX This kidney as technology for with that that in Dale time, This call is a the work once months fronts. programs strategic well. know, liver in development The with have we transplant also progress earnings of end based human And another its Powder. is heart, Freezing And Augmenta Inhalation programs, market billion. it's short be from program Voriconazole all progressing our we've British exceeds first effective version which Indeed, we've have and important U.S. in all targeting flagship has these for development, Thin the will Thin showing and licensing of trial two both African phase Bioworks pivotal to monoclonal for lung transplant with better-than-expected clinical programs Inhalation Powder potentially implications major we our patients have a progress

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to During demonstrate today our quarter, Thin the at advantages the very further Austin will with that platform Texas is at discuss University scientific Freezing Film here collaboration over data our Williams competing us of these meaningful the developments. other technologies. and of Bill partners generated Dr. continues

this that in on light Science This we're be in all date, So, we'll to hosting event also made plans perspective these platform and an the having pleased key what we the an a tuned leading Freezing our on of more other of virtual scientifically technology and will informative scientific a Stay events announce company provide accomplishments Film believe basis be on ongoing on very opinion details leaders. event, have we scientific quarterly. to Day will Thin from significant for June. and

over Director to Coleman, more with the continue want before call Christensen, so our will outstanding who we financials And now, two Dale? to we Kirk you over to clinical make Development, on Clinical the progress, Dr. detail go who I Dale turn is of our lead with give programs.

Dale Christensen

afternoon to to TFF good today. the who give an you, very I'm everyone and internal us joined update Thank Glenn, programs. has development you on clinical pleased

development making mentioned, our on internal Glenn As pipeline. progress are we considerable

toxicology Powder is the proceeding study. patients, the completed a development to our proceeding asthma cohort plan XX-week, product in first dosing program, Inhalation trials GLP used Voriconazole we forward. level completed going development In efficacy Our ongoing for our on in dose The dosing well clinical trial clinical successfully upcoming support will XX and patients we've at be milligrams. that are to chronic

complete. the of X with held the end trials are or begin risk preventing for on Phase patients to track will infection FDA pivotal at that that in efficacy our our are treating is IPA for highly product for with meeting in designed patients this of we preparing dosing demonstrate are study With the to we after asthma the infections. Finally, for be clinical progress IPA developing

lung being we organism dogma due currently the improved toxicity The kill date by efficacy. twice, administer safely dose data significantly sufficient For results are Voriconazole a in in patients infectious is higher and development than a infections, can the removed the the higher treat efficiently in for Voriconazole complicated treatment it with from is resistance. doses with that to in more dose other disease of program, therapy, successfully has for program to Europe less reaching risk even the drug the accepted infectious inhaled that failed efficacy the since not doses options our required more lung of because of opportunity aspergillus when that hospitals generated dose in or to used

healthy will Phase the X X.X on single trial, delays well safely COVID. dose Moving X, of administered in normal after portion In Tacrolimus to this proceeding this X.X, our Enrollment due to SAD our X of some clinical volunteers. development be to ascending milligrams the Inhalation program, activities Powder or completed single and are month we trial. doses

in dosing due one dose have have group associated ascending daily days. to two or doses at dose blood we concentrations In additional found the and levels provided twice of to were we planned state subjects we steady dosing when Tacrolimus provided provide We enhanced part these effective this one We seven to shown that study, found with of over this blood one completed cohorts, dose bioavailability the cohort at but with product. inhaled levels immunosuppression XX milligrams previously an of multiple efficacious subjects that milligram, half canceled of milligrams, immunosuppression. X that

dosed being each are subjects for X.X day single with days. cohort-X For milligram seven a dose

U.S. dosing. potentially we levels for ability for lung reach reported, efficacious implications As as to liver heart, kidney blood and This have well. patients can once-daily Glenn a patients transplant based patent on clear application the and filed transplant have from

addition that for to support In clinical long-term used we've study will chronic to GLP results, clinical completed be these toxicology XX-week a registration. human important trials

often we also The clinical date are With begin track rejection and efficacy tract oral of for to ability attribute pivotal Tacrolimus’ the an the the door reduce transplants food studies. observed physicians advantage open drug-drug allograft study oral suboptimal the on our designed to other confers delivery toxicology significant oral of with additional efficacy and the troughs ability lung Tacrolimus. fluctuations for clinical the and the bypass could upcoming are trials and to the We where effects the bioavailability, we've Tacrolimus gastrointestinal bioavailability with of inhaled effects. of to inhaled peaks made exacerbated treatment that organ Tacrolimus, in interactions enhanced of solid demonstrate prevention over believe progress completion and as of to side

have human next the that few of the treatment turn I'll begin antibody also to COVID financials. these half clinical And Financial in the update, Chief niclosamide of directed move months, that second the we'll the towards the important trials Kirk program a review our Augmenta will and call Coleman, year. of for pipeline data In will over We monoclonal Officer, programs with Kirk? that generating programs with program. toward our be

Kirk Coleman

Thank you Dale. much, very

diluted candidates. become same testing to for to $X.X XXXX Powder up General for powder in and XXXX million administrative months and compared ramp due three XXXX million for ended three in $X.X our with net formulations XXXX. a believe, loss the The the loss $X.X average dry The XX,XXX,XXX increase research quarter clinical potential XX,XXX,XXX, of vaccines, compared three March of development in of ended and Inhalation drugs was compared million months the period $X.X ended niclosamide were preliminary to the product includes The during for XX, $X.X activity same expenses Tacrolimus and shares were outstanding, common the and Voriconazole and Inhalation research expenses a XXXX. increased million and development March the $X.X Powder. months Weighted to For activity the related reported in in preclinical March to we compared of have XXXX. were XX, million, XX, million period for company net XXXX basic expenses analysis certain XXXX. to in for to company

And our cash March working million As of of will of and March XX, Williams XXXX, ability assets to to we're who of large and the we our technology some Dr. At doing complex call biologics approximately of Freezing development approximately $XX.X our over position dry about will an the cash turn to molecules with in capital total using that, approximately further particularly the has us work talk cash with completed the offering the million like our had and liquidity its Film successfully $XX.X programs. how platform, I'd in and equivalents. these The million. to strengthened is current transform of quarter, included enable inhalable groundbreaking molecule end into powder. of $XX.X Bill unique Thin our

Bill Williams

the and particular Bill. too powder slow like required specific that have rate, science supporting fast, spray to required and like freeze-drying and Kirk. not continued to too of Thank development drugs freeze-drying. morphology of also shear in freezing such reviewed provide everyone. and localization stability Powder designed conventional Recognitions a partner pleased freeze-drying not a not Journal. by the freeze-drying, our journal, Particle Good accepted that report unique form that thin-film afternoon, and by the we you, drug tank. evidence high applications, to the technology the I'm was benefits stress is advance used Thin-film that designed most freeze-drying. of by powder expose Kona thin-film was spray by paper and in to like spray peer freeze-drying Thin-film that invited newly recently and to drying a to protein is

spray of differentiation freeze-drying drying technologies effort, As this part other conventional compared have like to of and we to focus continued on localization and competing spray benefits symptom freeze-drying.

drugs freeze-drying like continued including monoclonal to weight on molecular thin-film our we plasma messenger validate DNA. antibodies, proteins, larger, and RNA, First,

intermediate confirms that stress to and compared data designed shear freeze-drying a Our as offers technology, rates low stable, inhalable, for freezing the powder thin-film other dry protein.

the direct published proteins that stable, freeze-drying to freeze-drying. studies difficult of produces in lysozyme we to spray more fact, therapeutic These head-to-head lactate to for. formulate freeze-drying is dehydrogenase and as comparisons of chemically biologics suitable confirming types powders are such have thin-film In thin-film formulate inhalable, that difficult

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advantages protein temperature processing, freeze-drying, of data storage stability spray thin-film freeze-drying confirm drying. stability that conventional then our offers In addition, important or of spray localization, room that during improved over and at

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regarding liquid collaboration freeze-drying. preserved virus virus that another of to suspension up based summed subjected infectivity was were to partner, of XXX% after we vector in the thin-film have Lastly, virus with vaccines

that drugs, and treating Niclosamide the properties advancing inhaled of Tacrolimus work advantageous desirable powders insoluble diseases. water small in they leverage benefits build testing. forms that's drugs, our And we delivery. to earlier. freeze-drying nasal around powder dry Now and weight, Voriconazole, of stages molecular has patent Dale of aggressively continue discussed unique various provide and these types on company these and provides like the and in our containing for let's reported that And consider dry Thin-film different clinical strategies

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for the the Lastly, its And to collaboration of over Officer, in you who update and like I Texas business support that with Operating turn continued Chris? I'd of call you on making your thank can progress now is the of company development to Pharmaceuticals the Austin. efforts. to partnership at Cano, Chief more Chris University want the TFF and

Chris Cano

you Thanks, today. for joining Bill, and good Thank afternoon, everyone. us

areas pipeline program; As I areas have three, the These key our pharma of academic are: and efforts. laser key growing efforts; and TFF government one, shared, contracting two, focused for on three development the is internal development company. TFF of growth the business partnering previously our team three

to continue in strides each great key make We these of areas.

academic pharma the continues our active partnering to efforts in very space. To on will I call, government focusing and and TFF be mRNA today's begin, For partnerships. be our

projects mRNA number this grow. of to And programs way. have continues of We active under number a large

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We pleased are we the data with generating. very are

We are powder with encapsulation a showing exhibits, excellent potency recent dry properties our dry rates. in-vitro formulating our their aerosol mRNA and high into on good And superior lung based by deposition, viability testing performed very rates. powder partner, very

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we a license We in the are allow optimization stop This with performing and collaboration throughout success we tremendous and exploring herd initial immunity to testing. the the global of beginning in some would holds transmission for of the TFF as goal speak, program some to the vaccine work opportunity we variants around are vivo vaccinations where to COVID and COVID world world. save this lives prevent so reach distributed emergence be that new can VSV countless

on our For our of announced we The partnerships and has testing and work treating dry engaged is previously GreenLight collaboration the a TFF is are our and for stability quick powder the perform inhalable, TFF progressing. Bio, next powder collaborations. COVID weeks. in few testing update over underway. feasibility successfully an arrangement with planning to dry is fully NeuroRx partner, with formulation peptide NeuroRx’s optimization formulated

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As on well. partnership with proceeding remarks, UNION Niclosamide Glenn highlighted our in his is therapeutics

both on human first important We are approaching trials in programs.

clinic We scheduled. the studies eye entering addition, an target for as Bioworks antibody augmented IND on work everyone, for co-development enabling as our also were as with starting quickly Glenn monoclonal our forward on moving on COVID In as possible. the is updated

partnerships, candidates, we proteins and monoclonal Our are currently for many round oligonucleotides, antibodies, DNA, molecules. siRNA, other and small proprietary our along with different our formulating partners VLP, peptides, cytokines, phage, VSV pharma AAV, product plasmid

and announced contract The has on has This under this of contract our on Texas in contracting Leidos DARPA On and team for employees to DARPA DARPA and outfitted TFF, TFF not and and XXX the is lab feet, consultants. with by pursuing actively government project. leased been additional to staff, the the we BD under contract with pharma XXth, were part government it work the space own partnering significant contract. managed in square also effort This first TFF but has additional the partnering government been our overflow is efforts. This a project. the the its obligations being handle horizon. fulfill project, summary, the for projects the welcome underway TFF its opportunities. side, recently progress that on contracting are is approximately April has manage begun owned in is lab completely and for DARPA only Austin, of TFS and space In addition laboratory equipment an making is many space and DARPA TFF run we

support the We continue we and Dr. the expand research of Texas the and this continue with team. I with have at to our grow of efforts number Bill pharma University freezing-technology. his application institutions. agencies our opportunity, government at continuing tireless I Austin, would with have and thank partners we to partners the academic And of like to collaborations thin-film leading of with Well, Williams

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meet our and We to for Thank today, over opportunities it the foster growth I to for back positioned film very now objective future the technology. And of to enjoy company. freezing are our this time will thin evening. scratched Glenn. surface well believe continue your technology the many both have we that And only hand your we applications and of we you

Glenn Mattes

company. TFF And been rest for Chris. participated the very has today. accomplishment This the and who much, to another of you Thank thanks progress team the quarter of

among a a to the lungs, recognition our storage formulate the into door. vaccines academic platforms has across the to subject our technology the generated our biologics, world just not a stable, cold fields. capabilities technology's As unique or to powder dry and the powder foam of governmental Chris said, of ability is realm people farm the that to for inhalation dry formulate bringing to chain is freezing partners within of potential of Particularly in biotech thin groundswell interest issues

our large competitive technologies Bill by even conventional us into are explained, dry advantage a in capabilities drying, cannot other thin-film a technological being that As These forms lyophilization, giving industry. effectively freeze-drying. or reformulate distinct that the spray form, unmatched of powder spray biologics freezing-technology other has recognized is further complex

market As in single has expected significantly. therapeutic in Programs And immunosuppressive resulted with powder inhalation two Dale tacrolimus potential results programs. flagship dose, of the than that potentials. a demonstrating unmet our better clinical large with the effectiveness case increased elaborated, needs just in this far address technology can our market clinical indeed

up, the has changing sum been enormously call our they and within pace industry, have company quarter, of to you a see during can sense the forward, and technology professionals especially business see hope consequences. it's given progress that scientific developments our gratifying to the as we clinical and of this the efforts the recognition to game the our So move of

As always, we appreciate our and partners. investors the support of

forward And to As and turn with speaking it questions. we you that, well. I open all operator quarter, with next Operator? up the look to you stay I to hope call will back the

Operator

Capital question line first Instructions] Partners. [Operator Aschoff ROTH comes of the Jonathan from Our from

question, please. Your

Jonathan Aschoff

billion? into and Congrats market transplant you, pricing guys. on Thank factor organ of you shares the Tac forecast assumptions around your $X progress. do What

Glenn Mattes

Jonathan. thanks Yes,

our transplant [ph] So the very do XX% trinity partners have primary at with impairment. a reducing heart, comorbidities event forecasted certainly in do of payers. a market, we that based the assuming efficacy profile, a our and research renal to about of and work. are liver KOL who profile, called the we specifically to related upon known actually industry but kidney feedback, they this least well adverse group better and They number And secondary share have equivalent employ of a series

actually continuing end very of compared I but $X,XXX very, this to be ago to in very drug this and and share about and about forecast use use went are seven result low look annual we'll But very, It's data what years incidents conservative and procedures. $X.X we I'd about and to up data a of peak you about side do orphan the is the plan the It's of very hit it's drag there takes XX% will schedule pricing forecast. get we big think a the assumptions our marketplace. year calculation an type lung the you of about numbers is because rather according important rate, a a which that that when did get of be. conservative. inform half we to at case, billion, on a On and the prevalence, think a to price are

great. that's So

Jonathan Aschoff

relationships? Okay, you thanks your for monetizing How that. anticipate academic vaccine do

Glenn Mattes

there Phase just adding that commercial Chris through Yes, work data of all the we see of We then Weissman, those progress in-vitro institutions with the to and of note are, adding, plan get with academic at Albert The look Einstein partners. other work then, at financing, you with. Dr. not now relationships tech assets out that to is discussed, TFF we important are is if ones take so mostly looking once And but to, with technology purpose the work the gaining first the institution would them, what USAMRIID of a development to are that and license to the non-dilutive the the with the X UGA. best-in-class. of we transfer what have the groups, all, breadth have to the we're already to and working financing

TFF take the these through of development So in commercial. academic then a two find technology the partner institution license and we and

Mount get maybe who look doubtful. very working highly often they're all developer. sort So, at of But – It's Rushmore here. of like with vaccine we're the

the are right now plan. having groups the the directly and that's transfer And TFF. to So licensing that tech we're the discussions with

Jonathan Aschoff

ones, then used Can the new R&D is inhaled run number in a answers. and prophylaxis and as Voriconazole Okay, really answer, be rate. well be as one word a could one they two treatment quick

Glenn Mattes

the Jonathan And is I'm second the D… R& sorry, what's question.

Jonathan Aschoff

that R&D bumped hump The that a run number, Is run new temporary new of there? up is expense a just kind a rate? is rate it's it Or lot. a

Glenn Mattes

the first I will question. answer

Kirk, deep yes, the look expense recent us And answer that. important urging market. us we meeting, could prophylaxis that is more actually at of about a an Jonathan's question for So in basically to get a please? more opportunity KOLs a were didn't KOL back take share R& you the D

Kirk Coleman

Sure.

give – about how on know, haven't and some to given cash idea formal to it. burn guidance, I'm you you but we trying As think Jonathan, so

burned a $X there We have in to the quarter $XX was cash and approximately million quarter. roughly consistent the we XXXX, going slight million uptake back this although quarter, and in during in that's

we show that So there's certainty. the predict quarter-to-quarter business, and can we historical to rate going nature just the some report run from would complete be that to of likely there's fluctuations with that really departure anticipate but don't dramatic a the trend into the QX, given

So…

Jonathan Aschoff

Okay.

like it in it'll So somewhere be between? sounds

Kirk Coleman

and quarter quarter. Fourth first

Jonathan Aschoff

assessment. fair A

Okay. guys. very Thank you much,

Operator

you. Thank

the question Carlson comes line Research from Daniel Group. next from of TW Our

Your question, please.

Daniel Carlson

my question. Thanks Hey, for Glenn. taking

new more what relationship it First Weissman, Dr. you little a [indiscernible] and me can exactly working tell you'll this on? be off, with about and

Glenn Mattes

talk to the what the I'll answer turn working over question. part to on. I'll first about Yes, of Chris we're it

met with a in presentation. United the we quick is civics, vaccine us itself country. call, are basically and that States gave basically we a interest Weissman the of group vaccine. he's father Dr. of part group to the of Weissman in was So mRNA that actually and Dr. top as to given really, specialists you presentation to Weissman which Dr. very take out called reached in through reputation, He actually can the technology, a it's imagine,

at to we that relationship. this quickly then him what point closest have Chris and a and established I'll working very we're about And So what talk on. happened is

Chris Cano

thanks, And Sure. Glenn.

and I a planning dry indications are technology our So with our what with We're work and in-vivo two give are. can't with them in the be really different work in Dr. to to mRNA work working are to And in-vitro powder. formulating share run. Weissman, initial on be going we vaccines. we going partner

with work to group. there, forward research them, looking other opportunity a working So fantastic it's with to

Daniel Carlson

a Googled just impressive I least. to mean, him the individual I thanks. and say Yes, he's very

talk you're recent So risk? intending capital congrats proceeds little what can a on the about Glenn, bit of with that. you use the do from to

Glenn Mattes

Yes. Thanks Good question. Daniel.

good it our this and point at money is runway. that's the the because a thing, extends certainly if bank in So

we invested very know, you As carefully.

a co-develop maybe the is it take one. looking that share to program to something potentially want XXX(NYSE:B)X areas two we we phase did the we through potential development we're Augmenta there [ph] with and pipeline, we like cost sort of want at a our So add where programs, internal to our

to an So opportunity invest the see when we right us that gives opportunity.

enhancing that The where described in on we do those help new that UT control is, sixth to And looking we Williams invest lab fact floor. have decisions are anything. and of of IP not in space our for and we're Chris sort other where Dr. to some preparation, to at our committing us some other area Austin thing DARPA be at do work there, sterile then partners the the of specific in can of ability some coming there. to with we're not selectively manufacturing, the is work the perhaps,

him, to but and nice company also partnerships talk make position to we addition cushion, and the to investments So the continue to revenues also the I should when cash bank, there, we but have just the that improve in know to from we'll have selective partnerships, profitable. we want make anticipate it's the what new in we existing some the

thinking. we're what that's but imminent, nothing So,

Daniel Carlson

existing I'm I'm how many you've of definitely the question lot so about a mean, you Great. which through progress just, mean, funnel funnel? where the them you're a much going you we've could in about trying understand look are And moving areas. do the you past, then wondering, red could if zone awesome. is and I'm the at on so got you how quantify Thanks. into going And times one to programs, to of a just programs just in if putting ton different through funnel. there wonder different talk the in I at? talked the progress last lot go I sales I you on

Glenn Mattes

right. All

to we coming want doing just vitro But it's so these needs moving if So vitro top determine what to right? funnel. things to sorry, vivo well relationships in needs way, to mature And work, the in we many of – that do work, consider we we're how when a with yet, that doing am have, the work mature, quantify and really track where vivo in, I forward, we in and the how in in what's it it as piece. we're then start

number number, a give to that going but take it's a not So bucket. in

take successfully, the a for You've to right. got negotiation, can all your vivo almost I that and how and vitro time tell that want very, least confident a when you numbers table that deals that successful. then, creation to an ultimately, that from because the vivo referred through that for MTA, of very done value in get and I but little We sometimes us. in at that Chris's demand. transaction, you're and have negotiating done that deal? real many is time then is year we're changing. we statement, how – transition negotiating when are you position an – about to in not make back sort progress, you Then highly in to as is, sense And And vitro actually to deals with you many all which where get this vivo, of the And are to longer. vitro progress positively from the in want, hearkened only determinant we'll two tracking do negotiation work

Daniel Carlson

keep Glenn, all Well, on Great. up. the congrats thanks, it progress,

Glenn Mattes

it. Daniel. Thanks Appreciate

Operator

you. Thank

Wainwright. comes H.C. question Ram from the from Selvaraju next of Our line

Your question, please.

Ram Selvaraju

Thanks so progress. on and much on the questions all all impressive my for congrats taking fronts these here. Very

to well what you Firstly, it the expiration is in from I wanted the of you coming which to expect give pertaining dosing. issued, have daily application claims you the once degree anticipate patent action as you ask that to us protection and office on a application of as the when can the strategic patent be? date anticipate And assuming to of see about patent sense the that a to you highly sense status if

Glenn Mattes

handle you can that one? Chris,

Chris Cano

Sure. And Ram thanks for the question.

freezing. right thin-film we our have really core So around very is the a foundation IP

just in clinic. this the formulation week, a we're particular any the on work the But into patent, right. kind to we patents this and just earlier was get product, right based So clinic expanding it's now filed the of the that have doing right the formulation, we're provisional multitude that protect now. of patents, And a because timeframe

on strong about foundation. building all it's So that

right. protection, as far As

be years. patent filed then the in upon we XX get one expect – provisional year, in patent the and reviewed we So would to that review successful will that

Glenn Mattes

Dale, that. please. give add if to Bill anything to is have any there I or you don't know If

Bill Williams

a month it'll just a Yes. be just it'll anything after be This is vaccine year to [indiscernible] and based in we'll before we we convert that sometime get year happens, Bill. filed, first a experience. before year on Since then

Ram Selvaraju

Freezing Thin Very specifically Film on to introducing first product when PLUS Products helpful, Also, based of any your respect on granularity they thanks. collaboration, the have the formulations Okay. to more anticipate market? with you cannabis the

Glenn Mattes

very, it late, that this best give their second a end the phase. would of Ram facility. the crossed now, But because isn’t of their is any testing very I re-formulation point, doing actually, threshold the quote very, matter the can the made guidance Jake And early third. the in we that unique for different move really think from it's important quarter, in powder We CEO, at some in the very towards strands. through referenced I so very be Yes, was

budtenders to and have for the off through and of then, some testing, is out to look and plan consumer it a laid launch, race. go it's like Let’s start consumer so they nice really a the

to is So, can we it, can inhaled, the passed and it make people be important cough, a path, relief. me, big of we that hurdle most sigh

you do the are So now off how to there. it's and maybe we races the market feedback, some finetuning, it get

Ram Selvaraju

R&D foreseeable are to to the quick influenza? dry And space two you other been that Okay. terms other forward, that meaningful going vaccine your With the anticipating work for future, technical – going in And a domain, these might under if nature in just financial by on is so, just pathogens the work de there what spend wake powder that's the do being future, of place, you is on be? this after offsetting done question in the that some should collaboration, you viral is Based going or the done in of of ones. be the that's respiratory then your we the anticipate be what And then the focused be anticipate respect question. reimbursable primarily agreements influenza or minimis? of on expectedly collaboration second of these the to have

Glenn Mattes

Kirk comment, a answer that, second first Chris, and about flu. the Yes, beyond the think, want question. answer to Okay. you the may I I then to one question be make

So to can of think begin that could Chris, But if you start? you answer.

Chris Cano

we look that the work lot the partnership. doing, at vaccines when we're Really, really our right, it's and a by driven Sure.

benefit also So, is heavily the from universal that University a tremendous vaccine on dry CIVICs, also Georgia focus the It's right, and of liquid focused would influenza, powder. and very technology a that We're influenza. any there characteristics COVID. is really of a on our

alphaviruses, working both with those are are and filoviruses USAMRIID vaccine yes, we So, there, monoclonal antibodies.

vaccines. many really modalities it across to comes we're when So, different

Chris Cano

if are not so to period, feasibility disclosed developing we doing COVID the says, technology broad-based, but Chris chain. even so It subject isn't play know company better world a and for for they portfolio how with play, where a about COVID-XX. Yes, developing them, with as it, looking basically also, a formulation. at got vaccines COVID-XX, work haven't think COVID-XX, if you you cold and got that's at, need just could a a GreenLight, they mAbsas you've so for we're looking about Robin, you a you've that flu flu, antifungals, got universal GreenLight,

of not approached But COVID-XX we're all us not flu that hit big we're are, you any a are team company, a put about you company, Ebola can important, building a it very you company working company, frankly, if putting listener, it we hit and with chikungunya. great. So, them guys if we're I kind that of the all are a sounds not pieces step of back, hope together them the are very, together, these if portfolio

say breaking sounds Puerto that's recently, And And chikungunya there's the we're and what you'd well, on on and start, the on. you're it Now Rico strategy goes chikungunya there. in a been thinking that's it and right. code outbreaks like

you answer do R&D? an So, thanks Kirk, for on question about Ron's that. And then, have

Kirk Coleman

the you Yes, not we be cross the are this for It threshold first place, one the did P&L current disclosed the have will sure, with in contract to. there in on well publicly. contract, financial accretive these not [indiscernible] strategically, terms as ultimately, are have but you that as the additional And future. will hope that the additional we for offsets as materiality, as candidates, product alluded government well, opportunities for obviously, be getting neutral work really the

Chris Cano

do take it's or since Drew or when they can here [ph], partner. not bit I formulation you've look a opened of get They potential Cart of me for second every diligence. or if door for the Rob John Ted a Ted by automatic, we at tremendous amount say Ross, Dye, a selected this, to little work Weissman,

The Some by was relationships about months in a DARPA a these year started or was year that making more Lidar. XX the diligent ago. announcement of

they'd like, not pick oh, pick done because it's They work. their So, we you. us

long. But I I’ll of let… a time make-off put every a stop here, validating, a we it’s bit too So, win time. or there's to we're yes a there. think Every win. go I'll maybe up way beauty contest, in not we

Ram Selvaraju

innovation. is that Yes, level the to testament a clearly disruptive of the platforms, nature TFF of

no seeing for much So, be but questions. I that's would impressive. answering have my case, that very very problem the how Thanks

Chris Cano

Thanks.

Operator

Thank Instructions] you. [Operator

Glenn Mattes

question. Next

Operator

comes next Securities. from from line Our question the Bill of Morrison National

please. question, Your

Bill Morrison

of questions. Couple guys. Hi

new first more your with Just with vaccines? question are institutes existing in interests is to research you for conjunction a does the mRNA to work color, partners with, pipeline, the my little partners follow just through or This, the new in about that that generate previous vaccines, question. working it on

Glenn Mattes

Bill. it’s Yes, stacking so all

think some of to start right. about can you networking, So, the

as you are you want think the to the longer-term that relationships And pharma have then call Drew relationships fill opportunities. right. in you if it my to and the they're But Weissman, as got them really some and if you – relationships, cycle, term, you've certainly sort and look about are academic want of, pharma near at So it distinct. more mRNA, midterm blank, you the yes,

think, talking go our of that company. when a got to accretive, any. Weissman do it's very, Drew Some know lot it's to a quickly. researchers great I there’s But very all not But are overlap these you've it's networks stacked, there if side, all how pharma of to are And, you could this. have and there on

Bill Morrison

Right.

existing opportunities with licensing that would accelerate, So, partners?

Glenn Mattes

to but certainly want you where opportunity for ever that can us. be commit, an don’t over see would I Hopefully.

Bill Morrison

existing the the great. with those And the happen? partners, Okay, when – what's outlook for and are license what upfront might

Glenn Mattes

of, think, I vivo to And testing in I have tried, world now and question, think we crossed Bill over negotiation. this of Dan’s sort to I

So that's good.

tracking of these least kind two back it’s two and to at beginning of later, I but end the the annual two. year. tracking said that by the Hopefully over were You the stick still what we at reason at expectation deals all. off year, than time. deals, rather no sooner of of And to

Bill Morrison

Thanks. Okay, appreciate Really good guys. great. Good, job it.

Glenn Mattes

Bill. you, Thank

Anthony. question, Next

Operator

next Yes, question investor, a question [indiscernible] our please. he your is private

Unidentified Analyst

guys. on and to the UNION, can the progress update Augmenta, on Great some Thank give Hi a with but hear PLUS you Felix? status you.

Glenn Mattes

the trial, the totally a Yes, bait, obviously Felix what a I It’s that there's will because trial, a are so, there a can trial. at ability are is completion of trial. certain want on the investors point requesting. are potential to saying what them recruiting initiate not say it’s recruitment that are in university-based but about their to they that They capital. to of They certain they hit. that's their for raise And threshold Felix

compound Rob on of there's optimization Film scenes, hit running us we And CEO, their quickly. with Thin behind McBride with he that speak do we their update. the ground some the gives the So, either version going Freezing frequently, continued can so

Unidentified Analyst

Okay.

question please. me for Another

NeuroRX So, phase. seems GreenLight months How be to to and and GreenLight? about just couple you a NeuroRX the announced ago next progressing

Glenn Mattes

work some other about, be they already, Greenlight, happy done far a the there. actually ready other turn NeuroRX forwarding them We today. three material We're with us start about finished. when Generally, is material about in it There have as have And nicely. yes, that. its get some formulations them us had specific so discussing takes we're to be may actually want we So, we along on to work conversation progressing to steps. to well. Chris, them. they we us try some with back work are to next feasibility or going And weeks

is work feasibility underway. the So,

Operator

to session Thank to the you. the Glenn further for Mattes today's program remarks. hand conclude program. question-and-answer back I'd does of like any This

Glenn Mattes

those on we'd because to Be all and we'll your For of your Good still talk for And safe. that we you, Thank our to hopefully even some thank the the so well, more be you And company. you. that, of best. We're line, next you participation you reach could share. you. out information be are night. interesting have company call the have support with to you before and anxious believe the I happy wish to always to much

Operator

participation you, Thank today's in gentlemen, conclude program. does your and This ladies conference. the for

day. You may Good now disconnect.

TFF Pharmaceuticals (TFFP) 14 May 212021 Q1 Earnings call transcript