THMO - Earnings call transcript Q3 2020 | ThermoGenesis Holdings, Inc.

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Operator

Good day and welcome to ThermoGenesis Holdings Conference Call and Webcast to review the financial and operating results for the third quarter ended September 30, 2020. [Operator Instructions] As a reminder this call is being recorded. I would now like to turn the conference over to our host, Paula Schwartz, Rx Communications. Please go ahead.

Paula Schwartz

Thank you, Operator. forward-looking the contains federal of call laws. securities conference statements meaning within the This results materially may in actual company's The differ statements. the from forward-looking projected those

November this call Additional and contained to now a Officer; and material. Executive Dr. as of in results XXXX. to like Please company's periodic is cause or XX, those that not time-sensitive with is is portion the The are or the being call information Chief of the I'd Chris. ahead, go information filed this of redistributed later be and materially turn today Securities in the is only rebroadcast, Jeff differ at Participating updating this Commission. any the from actual Chris. statements forward-looking reports will call Xu, retransmitted on concerning factors Cauble, today's Exchange accurate date over Chief ThermoGenesis call, to Chris If date might Officer. reviewing presented Financial

Chris Xu

and afternoon. We Thank you, taking this the evening. you this thank joining for Paula, time the appreciate call everyone to you

of to quarter customers the our with with XXXX them providing strategies edge cell to global cell therapy cutting cope tools COVID we continue to XX third meet global their escalate to worldwide, to the During needs. the Meanwhile, field by pandemic. evaluate serve cases our we continue continue as gene in with the processing

and business innovative the cell the the on to core in for highly technology. years, buoyancy As therapy cell develop systems XX include and CAR-TXpress the competence in sorting gene a tools the its cell products based reminder the for activated and latest field cutting-edge company's resides platform leadership ability past our processing

need AXP protected beads to customers component which cell-based cell is technology for manufacturing technology unmet BACS key efficiency for the technology the the micro-bubbles magnetic or instead The automated is from simultaneously. isolation and for of solution the of CAR-TXpress and So itself is for care cell automated are sorting and cell address critical clinics. patent three, cell-based or which enrichment system CAR-NK a platform platform, for processing therapies. high and cord system for allows allowing surgical cells our system therapy peripheral platform the offer centers needs. And from the query and allows bone point-of-care fractions which or storage from at such significant system cell for automated providing industrials Two, query platform, is offers the of today's high processing represents AXP, sorting activated advancement leading for intended The blood. selection, quality commercial MACS. large-scale blood stem The cord leading a different viable for preservation reformulation the and BACS which traditional cellular It the The BioArchive cell of our solution marrow rapid smart base critical processing, protection using preservation. is autologous smart lipid other tomorrow's blood ultimate high Providing automated cells therapeutics. and performance also applications CAR-TXpress comprehensive PXP system fast biobanking. in processing the the a BioArchive cell blood streamless that clinical manufacturing cell a the point as valued for CAR-T, is a cloud multi-modular washing,

line for the banking processing plasma ThermoGenesis in in a technology strong convalescent the and with robust focus cell cells. has the cell example, For simultaneous product market automated gene cell made therapy market a cell immune therapies. and leader This isolation of

cell newest time processing thus cell the system efficiency Our cost. the platform, CAR-TXpress processing significantly the increase and reduces

using own XXXX. commercial in to year the exploring the further strategies initiate of CAR-TXpress are our manufacturing We service system

has by stored impact a time. had affected units companies whole banking core being The COVID-XX on cord a business during fewer cord our the the XX resulting reported, a many have also significant globally was this blood recently industry pandemic. As blood COVID as

with to stock their has of pre-pandemic and expertise market the said, back AXP third technology Additionally, the many customers placing our orders do products that instead to disposables we subsides. to our pandemic. have consume related been of to the needs health respond the level long new global safety sales emergency able countries existing states our important fracs after It during to established of platform our unique some up with their core note of quarter. ability also to is on combined That quickly urging to expect increase lockdown,

in our end, we few and a that evaluate to partner resources solutions to COVID-XX. to field base fight ImmuneCyte global of past our the over range joint months medical Towards with the continued mobilize technology venture knowledge working

refine with therapeutic We and for preventive development strategy continue to to our treatment unmet medical disease. address both needs of the the

of to market therefore IgM/IgG are antibodies been antibody who fight designed individual infectionist the COVID-XX you as confer under and SARS-CoV-X has a has past During against to into that Authorization from identify Kit, IgM/IgG immunity. Genesis BioHit Antibodies provides symbol countered an using a proteins kit with response. blood the single the we The reinfectionist, agreement third virus Emergency Antibody and FDA. is quarter, the Limited U.S. know protections in antibody a entered developed droplet the test the which already Healthcare help received brand Use definitive Test from

market could to law antibodies potentially readout. United our improves instant pandemic. of reduces automated the error to Patent which therapy Trademark this gene believe human We false crisis. of new also in passing and accuracy become processing or to reader and during test States eliminates digit cell for also market the positive just global services tools Office results. monitoring via COVID-XX change execute of We public evaluating to COVID-XX possibility health from of .While technology, leader the the In the testing negative immunoassay explore a serological and a rapid flow range This fight continue lateral COVID-XX solutions and false speed the summary, we and detect provide for the cell recently and were the strategy to in

to We are be additional the products. let would explore continuing innovative quarter. that to turn financial third to which call co-develop, over key portfolio also And products to acquire with the our in-license Jeff of results share me to and synergistic current the Jeff? and solutions, from to to opportunities

Jeff Cauble

and were company's XX, to $X.X XX, three decrease appears the three was months the XX, increase related September September increase expenses AXP XXX,XXX was The XXX,XXX accrued XXXX months $X.X accrued severance. $X.X ended and to driver lower an ended expenses Interest was The months Thank fewer September driven XX, revenues XXXX, September the XXXX, as for you, offset $X.X of million, decrease the COVID-XX of of XX, XXXX an incentive to ended compared was to XXX,XXX for XXX,XXX partially or or The and XXXX kits, the of XX, ended increase quarter. XXXX term main three ended program testing Chris. compensation, for from XXX,XXX units for cord General million XX%. months was months or offset the compared by decline expenses short to months to September XX, ended related during primary profit The for XX%. for of an company's increase the three three September for three the million, increases ended XXXX, reserves compared ended months a for Holding and driver by XXXX, inventory debt stored months increase expense ended as XXXX XX%. to pandemic by compared in for Sales of and the of XX, September were September $X.X September $X.X program three ended the increase XX, cartridge an were million, to was XX, of months XXXX, amortization increase reader. X%. as was of September XXX,XXX related by were a expenses globally term expenses September million AXP COVID-XX disposable the three for the revenues development II. XX, increase These Net by September three marketing XXX,XXX.The driven driven Gross XX, and for XX, million Revolving are sales three for driven Development as million, or reducing were three The $X.X compared net stock XXX,XXX. lower the expenses CAR-TXpress $X.X of million the $X.X prior be the or for months million revenues the disposable sales. XX% September Boyalife The compared consulting and quarter approximately discount expenses. of ended net administrative Credit decline, to decrease Asset of for XX% XXXX ended and expense decrease the driven interest, XXXX. quarter XXX,XXX with the XXXX, was blood CAR-TXpress being about a refunds additional the ended Research by Agreement incentive to pandemic. short months and partially by

Adjusted company or At on for EBITDA million diluted based For to September for XXXX, loss We'd almost lower a company accruals with share, XX, September quarter $X.X adjusted XXXX, attributable September and December expenses. shares and XXXX, EBITDA driven net ended at the This XXX,XXX weighted now outstanding diluted the XX, the per remarks. to $X.X the cash quarter XXX,XXX comprehensive $X.XX equivalents, ended $X.X totaling XX, December ended concludes XX, or to and ended This the like R&D XXXX. to the $X.X for million of of was EBITDA increased to $X.XX the capital prepared by September your Operator? million per September reported our $X.X stockholders program, XX, had $X.X XX, million $X.X The loss common on million XXXX and weighted improved based cash income share million, compared million million incentive of XXX,XXX. to $X.X call short-term XX, XXXX. XXXX, profit as compared quarter the decrease decrease as adjusted outstanding. open at average was Working company common basic at average for comprehensive compares compared gross September the to loss basic of quarter questions. shares XXXX. XX,

Operator

question Wainwright. with first from Lee the And Instructions] H.C. [Operator Sean comes

Sean Lee

therapy blood cell traditional company's the and on is banking one business. first My

pandemic impact quarters. So we've last the there is last pandemic the developments, the several several for quarters. coming - more for vaccine And it along COVID to from with least is some while hope significant expected a at is the seen

whether or was new company the business has with this any that turn strategies could I plans wondering help new So around? products

Chris Xu

cell it's the this and competence bread our And bringing is therapy, and past for Thanks Sean. for Hi, XX butter years. up. core gene in yes the our

And not the cord referred with as field. to this We you in a only regards impacted have industry which significant by advantage was blood banking to COVID-XX. the

very However, that CAR-NK. the especially be manufacture also out the market, CAR-T, a lower the the efficiency those research There need a is is in And surge higher costs. a very with that significant And global significant to with much need there significant. unmet unmet cells is on and to immunotherapy for turn need.

market as many we ago, the the are CAR-NK but screening but year company future. a also XXXX. food huge are that that could and just listener we to to not the call, also has to this as And to the very opportunities intend our our that the with to huge a looking that. need. aware So in launched strategies service we Corning, representing was market in that in And company a and own launch opportunity, through the into manufacture look the research And a business much to really we seriously of grades have the in product, CAR-T meet only refer pretty distributed transform CAR-TXpress that

Sean Lee

company Do Sounds business? the expects for an timing you into go have full approximate service the when great. to

Chris Xu

ourselves that which that We is we creates the much including historically. service, various customer, the resource And to and we using a have different in device infrastructure, margin. company have want actually how teams we the into the the position - are have tackle best this technology, ankles we can higher the to the company the explore a

that's So in and it's hope think near at radar a but screen. investors, And early everybody on I to our certainly strategy, this update our moment, our bit little to too the future. release I shareholder, full the

Sean Lee

My last products. testing COVID-XX question on is the

company the a test well. for month, a last think patent as I reader received

been you Thanks. So two going how I If was one quarters? so efforts for wondering, some you provide commercialization to front? metrics the go have that? expect also, to over And that where on it next the can do

Chris Xu

changing. the And field entire landscape the that diagnostic is

for looking just from people changes searching it for So antibody tests.

whether Each Now lot those antibody virus. infection, and more why the tests. and for of to this combination needs of address test for the or require different lots response has currently more require antigen has ankle antigen reader. a that's the has we also a tests, towards and ongoing tests. more And for unmet developed infection, somebody And

reader is a the facilitator. So

So you assay a that's next current to how which how the help we just see that stage. no this. answer yes Yet or may the to reader is elevate give

almost are it's we we can with board other So so this - the reader. bundled open tasks be that

So technology with we different certainly open additional other support And potentially internal grant we such developers. also opportunities technologies. up also to reader co-development are use, looking use a our for test for and to of

may three to or how different. be all this by development internal again can out. business collaboration different think those it's yet different plans that see you model those I And wait-and-see slightly ankles, So the

everybody the two, last entire tremendously. case the the - or in week With nation's ongoing just actually as COVID-XX aware escalating pandemic,

almost all such and need cope to those, changes with collaborate this platform others we open with potentially So accordingly, it's to we why, to allow us. will with

Operator

session. Thank you. the conclude And does that question-and-answer

call turn comments. any back Dr. like to I'd Xu the to for So over closing

Chris Xu

look Thank on thank to in you participating all and and Holdings. you, forward updating in to for safe. and ThermoGenesis the everyone interest stay you call months, your our for progresses We operator. thank And today's coming you

Operator

conference for presentation. Thank has today's The attending you. concluded. Thank now you

You may lines. now your disconnect

ThermoGenesis (THMO) 12 Nov 202020 Q3 Earnings call transcript