THMO - Earnings call transcript Q4 2021 | ThermoGenesis Holdings, Inc.

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Operator

Good day. And welcome to the ThermoGenesis Holdings Conference Call and Webcast to Review Financial and Operating Results for the Year-ended December 31, 2021.

As a reminder all participants are in a listen-only mode. There will be an opportunity to ask questions at the end of today’s presentation. [Operator Instructions] As a reminder, this conference call is being recorded. to Schwartz, conference of like host to now Paula today, Rx would turn over the our I Communications. Please go ahead.

Paula Schwartz

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

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

Chris Xu

Thank call taking for afternoon. XXXX And year our appreciate join earnings you, to dial us fiscal thank you for you in. to the Paula. time We this everyone

For by years, world the the entire our affected past two have COVID-XX been industry the and global pandemics.

are to to We clients are many of in end the close And that that. are customers getting see our rebounding happy now aspects. our and we

ThermoGenesis development devices production industry. for edge direction future cell opportunity of and on Ever been also grow get the to medical banking company a for transform are more As focused always taking for growth. XXXX, therapy has existing our in ready processing ThermoGenesis, cell than we its cell cutting but business, automated we XX the only and new for to since years, established not to this the into

corporate to For and world's cell example, technologies storage and processing private major banks. automated we many public cryogenic have supplied

Our all grade warehoused license close to system of BLA-approved BioArchive clinical Blood smart Cord XX% biological FDA of U.S. units. cloud storage application

cells cell the patient's therapy Or in in CAR-T to Health's other CAR-T tumors. Institute cells related a therapeutic registered options. word other close of own a the therapy, than since years, samples patients has the point forms more XXX worldwide Our assets cell therapy patients system of CAR-T and for continued leukemia. company. in over launch devices two for end And and variety the therapies FDA-approved blood the past and invaluable In refractory into manufacturing. to institutes. patient demonstrated applications, immune website, blood globally, has -- nearly the five therapy processed approved more lymphoblastic cell These cell medical for were acute have clinical in XXXX countries uses AXP develop and past which of care National radiation of all in X.X XXXX, relapsed approved In By cell FDA the and the have are to And FDA pillar The five we've and in last XX solid turned cancers. the targeting million failed scale of of -- properties, chemotherapy, which technologies its become large the clinical know-hows rate response XX% of cancer treatment that U.S. intellectual who Kymriah, group. XXXX there proprietary various uses therapies next trials cancer years, medicine. CAR-T first the on for

cell for intends of external manufacturing. leveraging a products. contract and our operate our seeking By company has significant traditional and and personalized are A their needs. are to cell cell therapy that proprietary to plans introduced are effectively The a complexities cell the proprietary with of manufacturing device traditional seen or to of processing the therapy major not so, manufacturing processing amount service thermogenesis in business manufacturing compliances and various quality cell development IP through manufacturing and therapy with CDMO With manufacturing technologies nature and the high and or scaling launch we organization, development cell The cell candidates stage clients address to development. medical from solutions One bench cell bottleneck. we therapeutic bedside with the extensive formed that doing company our companies to field. from tissue capacities, the product newly the technologies service cell using quality IP manufacturing in has more pharmaceutical CDMO a products processing and We cell preclinical cell therapy manufacturing manufacturing TG develop issues based been products, plans of heterogeneous significant and for of and number transforming needs. can other Biosynthesis provider manufacturing clinical contract own for provide TG development, regulatory that Biosynthesis. leverage believe named division for system, therapy ThermoGenesis its to set, up

Boyalife to China-based Chairman XX, our to you XX,XXX XX to into and technology and developed long-term technologies build affiliate Also, licensing GMP and space entered substantial today, has Boyalife nine announcement manufacturing XX seen six know-hows is CGMP Dr. another license for a CEO, his cell out March or current a agreement ThermoGenesis suites. Investment, of agreements out cleanroom these square related lease The in entered Genomics to practice assess build to manufacturing in cell manufacturing, filed an of manufacturing approximately the U.S. good and our on Sacramento, ThermoGenesis patents, ZX complete planned with a may cell processing Genomics press and compliant facility andXX-K that is months. manufacturing into feet organization XXXX, of CEO services. in expected XXXX, a with As have California in Boyalife affiliate our to related with to March which Genomics cell Chairman manufacturing Xu, is Chris use and

launch in And months. targeting by customers over CDMO the share XXXX. with We this Jeff me reporting that, results of the key our let look coming call to We to to for forward XXXX. year the to service exciting turn to the Jeff? are the more of end financial transformation

Jeff Cauble

$X.X million million ended driven Thank December to XX% were decrease December December The million CAR-TXpress you, increase offset December the a for salaries by conversion XXXX XXXX for compared tricky for year December year. XX inventory $X.X due ended the to administrative XX, year was XXXX. $X.X compared expense, legal of The lower or December Selling, December to XXXX, compensation for XX, or that to benefits unamortized with year decrease was XXXX. XX, as year XX% for for Asset as compared ended ended the stock XX offset revenue were in increase was Holdings. million Development associated AXP with lower reductions. by XX, Chris. and to $X.X a in previous Boyalife Interest The driven ended the XXXX. primarily lower the XX, driven decrease XX credit ended December profit and by ended The Net year million sales. ended driven year by the as revenues million year the was expense revolving BioArchive the year a year expenses million offset increase as compensation declined was $X.X $X.X revenues compared for million of for expense. by XX compared of $X.X reserves to debt and increased beneficial December $X.X by revenues to service as discount decline decrease and Gross and net in expenses of XXXX the or $X.X by was The $X.X $XXX,XXX XXXX revenues Research X% expense decrease XXXX. in XXXX. was the and the other for million agreement general were million factor ended

of Operator? million For ended on $X.XX ended year company to per at shares million XX outstanding. basic had XX, a and $XX.X based our $X.XX $X.X million average concludes and the XX $X.X as capital year diluted share, Working the XX compared XXXX. XX, remarks. diluted XXXX. equivalents to prepared net like outstanding a stockholders compared of X.X million questions. weighted on or million per XXXX, to the to million cash based XXXX, we'd loss weighted $XX.X common XXXX. loss share, XX million, call December $X.X your December with and XX.X was the basic XXXX, At compares at approximately at to December This or totaling shares now common for approximately comprehensive open common the attributable comprehensive cash And December This company million reported December $X.X December average

Operator

question first the And Instructions] ahead. H.C. Lee [Operator session. question-and-answer come the begin Please now Wainwright. Sean will go We from will with

Sean Lee

thank project And Good for afternoon, details you Jeff. Very CDMO good forward. could you was wondering is you moving if would how question. regarding I taking take to more provide Chris some project. the this my see and that

you? know-how first So the that all, providing are the Boyalife -- is what such is exactly is of what to

Chris Xu

nice you Thanks, to Sean. talking Very again.

manufacturer knowledge, from some tissue licensing has, the and enzymatic cocktail potential to limited company the of including and knowledge So of a including also shipping that the accumulative application, the Boyalife, technology requires cell which logistics. combination, which not but of process some

also the good not in proprietary provide to position have service competitors. provide put ahead I we but very So think capacity us we a of are service, to is our this that that only

Sean Lee

location, Sacramento. Thanks. set on then terms Then, in you're of

the excited Is there? So the you what And decide made just most that it to you’re what serve? U.S.? area is

Chris Xu

to is, So leverage We several being including also out quality and regulatory, existing the talent place facility, location location Sacramento, effects XX,XXX us which place. lots next We choose synergistic allows town. there our build future take the where that since to way, by staff, our because we and carefully, our locates. And are major also that existing of in location by can allows University to UC the our close -- the current to Davis are in existing pool operation. which

just then actually have therapies, are servicing currently those trials of certainly, U.S., of the developers enter And to of developing biotech coming the one trying servicing California, location, the major U.S. the who locally clinical cells overseas because entire in which are file company many U.S. we U.S. third the And servicing manufactured already And developers oversea have are are we're from yes, cell we overseas. with according R&D They from one to are gene we in globally, from thirds regulation. they the So market. the clients, therapy are cell U.S. not two U.S. seen intend to gene to and

Sean Lee

to need the that. [ph] of running? up proof a have Thanks of of Final see. in running? kind second this what And facility, of do that XX for you it the the this this half question is you get at year hire cleanrooms I activity are once lot staff additional and to

Chris Xu

Yeah.

example, give throughput per to unit, you yep. per give for CAR-T technology, a previous So you rate, with GMP perspective, used therapies manufacture to prevailing day. historically a technology XX dose will roughly one of unit It's,

we have a here. doing will So report Luckily, throughput platform what manufacturing --but are that's that. we that which proprietary CAR-TXpress, is of not the the

all, unit So all dose [Indiscernible], clinical XX,XXX GMP a XX is with roughly per we here, significant which about in amount. year, quite are talking

Sean Lee

Those are helpful. very

half part For the expect the staff second Do the this of you year? of expansion major the second question. in to

Chris Xu

repeat can you that? Sorry,

Sean Lee

drive and half towards of your recruitment think this the middle year? later I in

Chris Xu

Yes.

compliance. and talent a quality regulatory company We excellent pool the who with very FDA in very are and in have experienced

the With CDMO staff. service taking we new are additional

recruiting build will We CDMO out are those services. staff build up, additional that

yes, short expanding are we -- our So yes, answer is answer the staff.

Sean Lee

Thanks my for questions. Great. taking again

Jeff Cauble

Sean. Thanks,

Operator

like question Mr. would I Chris for concludes session. turn go and any This to to call our over ahead. the closing back remarks. Xu Please answer

Chris Xu

during in quarter interest We for Thank to everyone look ThermoGenesis and you, who our And progress updating operator. participate our thank Holding. you XXXX call. forward today to you first your

Operator

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

You disconnect. may now

ThermoGenesis (THMO) 28 Mar 222021 Q4 Earnings call transcript