AEMD - Earnings call transcript Q3 2018

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Operator

Good afternoon and welcome to the Aethlon Medical Earnings Conference Call for the Third Quarter Fiscal 2018 ended December 31, 2017. All participants will be in listen-only mode. [Operator Instructions] Participants of this call are advised that the audio of this conference call is being broadcast live over the internet and is also being recorded for playback purposes. A replay of the call will be available approximately one hour after the end of the call through February 08, 2018. I would now like to turn the conference over to John Marco, Managing Director of Core IR, the Company's Investor Relations firm. sir. ahead, go Please

John Marco

With Thank X:XX Medical's joining December quarter results XXXX. corporate fiscal released Jim for XX, third Operator. the results Jim to CEO; financial Eastern Company's for conference XXXX time, discuss fiscal XX, quarter and XXXX. December ended Aethlon developments CFO. XXXX third today you you, ended are today's Joyce, At for Frakes, call the us p.m. Thank the and Medical financial Aethlon

Aethlon earnings release, received the not page at visit have investor's you If Medical's please www.aethlonmedical.com.

not involve XX, duty this conference to During of Section or cautions will over company required the course Act making statement. of intend Report Factors forward-looking Annual statements. on XX-E Joyce, actual in the the does to the assumptions in any the company now not this risks Form and to under events materially be and that Exchange statements differ that from for nor update the to are the circumstances. XXXX Medical's by results may can Jim? found Securities in Commission. you that information forward-looking forward-looking is of within filings Company's of with any this those of differ law, expectations undertake These XX-K and could of materially year forward-looking that call, meaning results anticipated cause of turn statements uncertainties. the from statements be Securities forward-looking Company Section and statement conference Act the CEO. of the company's The is Except will Factors the future March ended Aethlon I results fact in call and uncertainties caption by the the statement based other the XXXX as the and Securities Jim date reflect risks Risk statements it does to Exchange of and on XX-A Such XXXX as historical a anticipated may a call. significant are subject

Jim Joyce

Thank your We appreciate you, today. John, and good afternoon everyone. participation

when in feasibility that quarterly call we Hemopurifier a our As in study conclusion. many our were conducted XXXX our year productive, to to struggling team concluded and bring has Since compromised March may disclosed recall, demonstrate safety we’ve which viral calendar study point been first we to primary we met that study quite our individuals feasibility our a infected was health pathogen. in with successfully objective

conclusion Hemopurifier as also pathway has Cures During breakthrough the significant FDA’s virus the into Act signed was by XXst our study, a was which the the of to an result recently capture established we our expedited awarded device. as been transitioned study the being FDA, of observed law. program, access since Century which Subsequent our device by designation

instrumental of regards look new based which $X which cash And XXX,XXX price. monthly of result time $X.X And we we This of warrant to last the and market based proceeds improved quarterly million, position employees a approximately cash subsidiary. of XX beginning we market back. we equity these recently Johnson approximately National currently the to of biomarker role from At pattern liquidity, $XXX,XXX. was $X.X we and also in on for Enbrel result treat in million. of severe also Humira We a advancing million daily we financing, Sabrina net Dr. as issuances, acquired a market a involved We added as staged as balance device Non-Executive advanced And burn cancer. maintain us full provided the of exosome directors related FDA our in transaction advancement to arthritis. was appointed Institute biology. That of property value treat a He at a million of to across first our clinical intellectual device as and on current in our Subsequent Cancer in added our improved a a therapeutic $X another million of sheet of the exercises and balance daily quarter, our mentioned to $X.X played team also sepsis. and shares Chuck with by Charles our call, volume a We market. to portfolio led and was registration equates to ATM transitioning to day an Sabrina with the present increased Fresenius. as rheumatoid have PROSORBA liquidity, and endeavors, Sciences allowed column a first on Martucci of six maintained fields treatment to last in contractor as Fisher. added share transactions. result Since disease new Exosome directors experience sheet infectious approximately previously significantly the consultants, therapy Chairman. market received in just two our be monitor our an we relevant average to the approved accomplished endeavors the and candidates to class, diagnose, two milestone expanded we needed an of subsequently

to this In pre-submission call, the Institute provide as award submission for be classifies with of our was the market use Hemopurifier meeting single category approved label designation device that allowed to the Infectious of a after threatening viruses, deliver highly meeting our viruses FDA B a a allowed As breakthrough Under in we National pathogen following the as to the in limited meeting requested device FDA. are use. our have dates FDA the on of based indication to optimistic life we of indicated quarter Hemopurifier we our will towards glycosylated while device designation agency. The to until treatment suggested we the with threatening first by year, virus research led and Of indication to on formal our influenza Allergy are deadliest exposure States. C it relates of not of to quarterly in up previous meeting I XX HXNX glycosylated and Included threats two addressed that flu Diseases with or attained treatment. XX I’ll advance life only are The the determine to requested requirements in of our a addressed breakthrough and to guidance will the A, Hemopurifier. more previously Research we is has conduct In the HXNX enquiries regard and are United our vitro virus study approved a HXNX has influenza, preparing decade. XXXX bird based ago. even our the this collaborated which flu and confirm related XX strains responsible season million therapy. pandemic these to a XXX related access Spanish which capture the share are swine for validate in among reconstructed bring post that flu than HXNX In study these virus an team Battelle capture the million virus, Memorial Institute deaths Flu by to to HXNX was to with those an century of XX

However the I survive establishes want well generally system to does point system. respiratory out that in and the itself circulatory influenza not in

healthy in this survive virulent. We're occurring in when virus at extremely individuals through prime circulation of the monitoring the on life become can observations currently of evidence for with However mutate HXNX, coming based it the to infection.

and an of seed life not addressed patients. and another tumor-derived in glycosylated therapies. Beyond immune therapy. emerging viral that contribute the spread disease cancer arrest the of approved is threatening target with particles reported pathogens represent These functional T they can to been metastasis benefit cause may CAR-T exosomes suppression inhibit Tumor-derived drugs immuno-oncology cells, also to the have which of also exosomes,

to tumor-specific Cancer X melanoma National pleased awarded affinity part am recently Hemopurifier as underlying to metastatic research our program. demonstrated team Institute our to of in relates vitro has contract our that it exosomes Phase our share As I contract the of capture

purposes. Our team for the demonstrated analysis quantification and captured release ability exosomes then to

later pursuit Phase this Phase We II and contract expect summer complete to plan then our the with X award. contract

Traumatic before I that tauopathies, the biomarkers to at Sciences in Boston XX we With approximately to an nine protein involve which on Now disorders our when XX Tsuneya CFO of found to neurological CTE the as same the In and Frakes a have over the at CTE. DETECT brain. collaboration are the funded Stern we TauSome times been call levels Dr. a diagnose XX to abnormal University our related as Exosome saw University Study were tau by players and we subjects. XX group biomarker, controlled the by NFL be want observed levels which be quarterly invited higher controlled tau of Dr. In the compared group. controlled investigate former subsidiary. study we exosomal family This in update higher subsidiary sport monitor was TauSome Chronic to cargos looked Robert and former as Boston at known last NIH. first with provide the as call, includes approximately we analysis to NFL proteomic otherwise protein plaqueing regard, exosomal times I compared to that of And players to in in a Jim Alzheimer's, the what TauSome our Encephalopathy exosomal the subjects. call hand non-contact of this controlled Alzheimer's study XX NFL subjects Since to disease in investigating Ikezu we

CTE derived. study at protocol incorporate study, biomarker we it modification also have They known questionnaire CTE study Research is questionnaire actively in also submitted consistent to the has study agreed the And the utilized provide our enrollment of TGEN, quantification subjects. the is brain DIAGNOSE otherwise the that TauSome IRB goal collaboration is Institute in the investigator in this TauSome to to principal Another to which confirm with BU being DIAGNOSE indeed the Genomics University whether DETECT a Boston a regards measured support new TGEN’s enrolling Translational is as study. to if to is previously

study, the that on including explore of in will the over results DETECT the we In Jim addition study said, I TGEN younger did may to will for in biomarker TauSome in quarter. the presence to quantifying rosters. for discuss to to NFL TGEN and that be And the the blood the NFL enroll study mic study, also With like current DETECT now subjects, also previous presence as seek the plasma urine our compared will turn new of to those financial saliva. the biomarker Frakes

Jim Frakes

December million. cash currently afternoon a We we cash good balance of everyone. of had approximately At and have Thanks balance million. a XX, approximately Jim $X.X XXXX, $X.X

of month $X.X combination million and January raised At-The-Market our XXXX, financing exercises approximately through of the Over a cash from agreement. warrant we under sales

we recorded as Phase Jim related revenue win that and $XX,XXX contract, be XXXX Joyce did in nine to overall The with the government the under X During month successfully milestones quarter. and an we Institute. under not $X.X contract may opportunity if approximately have in revenues noted revenue contract opportunity. December $XXX,XXX meet December Cancer that the with million National XXXX in was quarter, two-year our contract which contract contract revenue We any would opportunity a the have we

XX, approximately consolidated Our were for expenses quarters $X.XX both XXXX operating and XXXX. the ended million December

related approximately and of payroll by expenses a in approximately largely were of in and $XX,XXX. increases and $XX,XXX offset expenses fees $XX,XXX professional administrative As general of in approximately decrease

cash approximately our operating calculated that operating million those As we burn noncash December the both the a in XXXX burn out a the When $XXX,XXX operating expenses were of stock-based expenses subtract for XXXX XXXX depreciation monthly I just $XXX,XXX expenses and and compensation noted, XX, quarters period had and we ended period. our noncash in cash and periods, rate consolidated XXXX. of for amortization $X.XX December of monthly rate both December we

in We period. prior the also approximately expense to in the XXXX other compared quarter, of had of $XX,XXX income year $XX,XXX approximately December other

related quarter. out was sheet loss share December and this XXXX approximately ended press $X,XXX,XXX loss release share December the net these XX, release the and the XXXX and to XX, a statements the December quarter, XXXX or put $X.XX approximately for $X.XX earnings Our three or periods commentary XXXX, nine net That for for $X,XXX,XXX operations XXXX. compared per of and per in We for month the the balance December afternoon. earlier included of

Steven, report And call. the Joyce this We please happy our quarterly open will I XX-Q questions. Jim to will take have. and questions for following be any that call may Form file now, you

Operator

participants. first comes Zacks time, And Research. this Investment questions Instructions] Brian XX with from from At ahead. address go minutes allotted Please our we’ve question Marckx to [Operator

Brian Marckx

that going likely that have is I’m Hi, mentioned on is and that sounds is in the feeling congrats on. various you regarding guys in with meeting QX, progress – the to Hemopurifier guess the you’re – on FDA EAP, that program. the QX, you Jim, It happen should there programs upcoming sorry? happen like I

Jim Joyce

And dates today. for are meeting your hear have participation you. QX The year. in suggested to this thanks for that of been nice Brian, from it

date but So happen this don't we're at that optimistic can confirmed point. a we have

Brian Marckx

CTE or is from right. that the how affect Okay, the program modification, – does DIAGNOSE the all And then that as on well does to affect the that study? relative DIAGNOSE study separate that's protocol

Jim Joyce

from being confirmed Stern completely CTE Boston Dr. It’s at separate it with investigator have study at Stern, DIAGNOSE is the we managed But Dr. by our was decided we should that that University. subject which studies more in makes the TGEN. in And utilized little incorporate collection are consistent that’s being enrollment study, the conducted across the questionnaire very field. DIAGNOSE same being data CTE the principal few

Brian Marckx

with enrollment has then study started so at Okay, Genomics? Translational your

Jim Joyce

NFL when we Dr. but established up and – point building of a simple awareness in if this former No, Principal of a our salespeople weeks. that of advisors at IRB within it by we Kendall expectation TGEN We modification, very be kind enrollment at time cleared the witnesses are does have introduced of at Jensen, not Investigator the the kick players the initiated time, team enrollment have study. should

Brian Marckx

you sites study how to And approval anticipated to are other Okay. IRB many other can has enroll sites? and remind Jim, any me been study then submitted

Jim Joyce

are we this is open we through the would study but site in on of want discussions, or we Florida based perhaps up then at we a here New point other California, time, as And San disclosed if in outcome get and getting full but running. sites site, kind South is of objective the good very work in up of Southern as sites this of previously once going add Brian, up to then off will going goal area, the anticipate this at sites, and York site to where is enrollment XXX we concentrations a former one decide to area will other ground open we TGEN be Diego the the we're well. and going, sites and this high we But see believe subjects would of how enroll to regions we players in there's where those that anticipate we one players. is in whether in former process to

Brian Marckx

facilitates a the and I on access Okay. high general, the and facilitating unmet otherwise? regulatory FDA kind potentially Trump Commissioner of program it's about level that guess, you And talk certain easier just FMC Wondering and how if or diagnostics therapies whether and thoughts your may seems to approval that question, relative – to guess target in could it needs relative approval or particularly to possibly conditions. Hemopurifier, deadly focused that either new of through I they're diseases administration

Jim Joyce

appointment Scott So we're Commissioner. comment with Gottlieb, my first be, he’s the FDA very taking would of impressed the

don't breakthrough law XXXX, FDA how very believe But I device there’s Access Expedited many we think commissioner designation. seem our into transition might I device signing the approved this the be December – providing this so discussed focus no quickly people but illnesses of lifesaving drugs and think to program that at therapy, therapies the were think FDA there is breakthrough addressed to many and goals clear conditions people life-threatening no incorporated echoes the designation of benefit not which surprised from I are for we the is with against very that we with that which week, towards changing in culture able the the device breakthrough Pathway would are much be provide that people they’re quickly. the is could by safe Dr. at – have originally disease of very also devices, therapy. awarded suffering designation to access transition access in patients it's would even then and who some from which for people to consistent heard for Scott [indiscernible] program the And Gottlieb, just

as very It's So is most are around be the tremendously how device occur be device have should of other not prevalent U.S. is to medical world that to clearance, be luxury there manufacturers a we to having I want path regions going the around out conditions point disease other may market, here generally there things because regulatory about interesting perhaps and is way, of are this by see towards treat market in regions the optimistic well one they if for reasons optimistic expedited the to the a don't world the that for the very agency. device

So FDA bring they to rely from means into approvals therapeutic countries. devices as a their on

possibility just execute here a basis opportunities an it related not if the opens potentially issue global is in the up can to on this we So U.S., peripheral.

Brian Marckx

on or therapies that And other on a related a FDA it focus sounded be that I it I may a couple program talked blood DoD may believe. may it was the that and for Jim, implied that on is it access least of battlefield – a would about press also weeks believe there notice be it war at FDA products, it ago novel initially address casualties – program, that working like – but was initially I products, to on focused issues for joint are and the was release fighters. guess. it There that

that FDA here in So you anyway meeting think the my question your is QX? is, relevant meeting may upcoming to in something that be with

Jim Joyce

from therapies. year referencing war sure in that that the FDA maybe they that I’m it's but take able wounded new going extent the possibility to understand over guiding relevant their to for do action be DoD that been own last the fighters not meeting, what we to without on on has

this a to of the middle to therapies of bring to in two regulatory those you're forward – is FDA. organizations maintain So a intent extent what ground kind I I the the find still certain terms oversight for think think to FDA-DoD but collaboration seeing by collaborate is

Brian Marckx

Jim. Thanks,

Jim Joyce

Thank you, Brian.

Operator

comes from Marc Catalyst Robins Please question next from Research. Our ahead. go

Marc Robins

all Hey, thank congratulations milestones and the that achieve on you’ve year. able you this to been

to a still hospital be machine of take arduous of Brian's technology, come were the help, the but to and up we've the hospital way separate – use last go hoops. about If would very trying chatted up would possibly find question, for only not to expensive. or difficult sepsis they the sepsis Following how back be the in through on machine private treating the the set arena past and into hospital DoD could propel private to – that use have into

Jim Joyce

Yes.

So, to Marc, to just sepsis I your the creation including new to therapies related addressing of deliver that to machine the make candidates program think sure want a this I'm referring properly. are I When sepsis? you objective you of one program extracorporeal question treat instrument to DoD referenced

Marc Robins

Yes.

Jim Joyce

very clear and be for Okay. others Well, hospitals opportunities, based might vision CRT field. be, on becoming to regardless I the believe It's need clinics already. others similar instrument on but dialysis Marc, the The underlying a And life-threatening in program. the also been infrastructure can't think in machines delivery going well I a the of of these and speak of do do, of design to a in one very can't my there's regulatory clinical a believe and there’s need as instrument it’s to I'm what working indication beyond I there based to It's size is to market net the standpoint. be aware design advance to other design. the that progress do of opportunities, I platform. extracorporeal Kind to therapies is general do certainly of mechanisms I therapies. from business need be so. That as initiator deliver not purview the going our provides of in types how for to expand But a work going on of condition, interesting thing the –

we leverage. the momentum there’s can that believe we So in field

Marc Robins

phone you think I for the have iPhone size, could winding almost by up. as say won't size, in and where Apple further, individual. the we’re will the I go Mechanics both down described that is look be XXXX perhaps what magazine But heard devices our Hemopurifier I to dialysis Popular pathway magazine way any there article

Jim Joyce

end took impressive cure that, that appreciate I memory. And artistic size in whoever going Marc, very to Marc, all was life plug the all illustrator some to Hemopurifier diseases, create your who’s right.

Marc Robins

a nothing my frame in above do my has to with it Jim. desk. Hey, have memory, I it gilded

a them. a can't exosomes. really Let's and than I This get say is think way go – there's but are statement glycosylated it anything, there's those to on of to I tumor targets I think really is cancer guess exosomes I disease is don't it's – – it because to question, other than more no –

go to one? accepted your ahead, a extract much this that's by subtract those you FDA, accepted If that further in it is once out, exosomes I right those Once – you the too almost profile targets is can Or patient? after please. been am jump? proof would there’s the as help stands, exosomes of or a tumor is Go it to allow that

Jim Joyce

Well, will I but don’t reference. think so, I

We’re proud we're the very in lot with our cancer based Hemopurifier work a of also both study frustrated our of disease our of our infectious delays delayed our clinical in the work program. on but feasibility got in because field, very

moving disease therapies the progression have with could fact CAR big for an of of cells system inhibit which work is way that then immuno-oncology we’ve which should carrying the one or particles at venous system another I contribute structure, no be disease of derived access the and is perhaps And the for T been that therapies this arrest debris which – Today that looked to these want but same important perhaps the the a correlates quantities. immune point in be very mechanism provide the tumor in especially if not biological ground. them was the evade the and don’t exosomes, of we’re that catheter allows for derived cancer to now by been and the no structure modification from tumor patients to some at we derived which evade viruses get responsible think quantity of and that function are of Hemopurifier. exosomes the significant related looking helps halting been suppressed massive pace initiated device, of that drugs particles we medical you’ve it’s started be in now deaths. we later we of upside I consensus cancer where happy that on exosomes circulatory you is we system drugs field. were are you And can once when these off promoting any central the to evolution if first marketplace. And the the to if body. your T able back exosomes. believe already was to that and T our being that device be treat particles carried publications spot problematic spread these decade CAR the the surveillance then And was same nothing ago, that in which have into research to in the to with the have But there's the we're surveillance which structure immuno-oncology in tumor cellular suddenly immune stage viruses on transport they they to seeing us these the perhaps administered to because when circulation system, at said XX% it function. diseases there’s recognize immune derived cancer that are evolutionary allow cancer the reason so going tumor So out that the discovery to market following in that had going community metastasis And look exosomes was

So it's an exciting arena.

help. in particles a it can’t the we’re other of role presence the here few to are from and that can for therapies a advantage looks – the I CAR that did XX% of the promising. very regards Celgene surfacing to I additional of last year T know but Gilead of for adding acquisition things I'm you're have own understands an But the active at saw and hopefully we of therapies, with particles is perspectives. happy then premise of toxicity these $XX.X Juno former $X think opportunities reduce analyst generalist, Kite without you former and acquisition combine billion, the that sure billion. I and we're now of cancer In a device that saw the by take they multitude drug

So and that basket field can therapies quite very to big a the these there’s valuable. some and some of help navigate other be we made way benefit in could

Marc Robins

way Thank you very that’s much. your was could That's around some – there that will tossed and ask money some that I of been pass sloshes on, the going to you be about if keep going.

wasn't or the the the the case by and with column also but of for starting help addition point for wouldn't a the experience forget evaluation I terminology, price Hemopurifier that kind MraY wasn't reflect With if $X,XXX? dear Medicare of PROSORBA standpoint? pricing allowed PROSORBA the And PEG remember, that's for and Ms. column, Johnson – and very me very, her [ph] Jim,

Jim Joyce

is the PROSORBA defined was well. for there least not I the it code for margin at through. doesn’t – under around mechanism under. Hemoperfusion execute down per it too reimbursement the advanced treatment terms Yes, device in we $X,XXX, ago based reimbursement of dialysis reimbursement – reasonable for pretty long was – a a specifically. defined potentially Hemoperfusion to But that And under would as can PROSORBA we PROSORBA as column $XXX a a recall go dialysis was devices, we to think could business. Hemoperfusion devices was the in The there out reimbursement – code I $X,XXX does somewhere expect fluctuated on a between that But it seem code don’t our be now compared to between sequentially reimbursement to column seem be to it be which

Marc Robins

share then anything I have going you’re you’re to going people start these for and on adding for and of to talent? to long. taking with Can the With all lastly so you looking to your And folks that apologize things as kind us team.

Jim Joyce

Yes.

Marc. rely of – is this So we challenges, our one

consultants, We team have in we’re need of a about people a on core We rely internally. significant But clinical thinking our people numbers especially outside to team expand basis with for on going the skills in executing the and And it’s can’t definitely endeavors productive. example of and studies on very the clinical studies. to clinical need our execution. in area we management regular

but exist. the of if based that We status our on current opportunity our a to opportunities is unlock difficult number have bandwidth very

business if go employee and development companies with cycle other number we cap people recognize have be think also – to issues. very pieces to skills the us that cap market in that now probably we you would that have as you to public of not just – look you surprise, to at other our we compared probably of the I where cap employees the you to So be a ratio opportunities presently. But market that small are. project people range, to we’re pursuing actually manage going It’s today that pursue on good allow because management and bandwidth some no, moving internal would helpful

Marc Robins

back get I’ll – back be in I’ll the you. queue. Thank

Jim Joyce

you, All Marc. right. Thank

Operator

ahead. Chen go Please Yi Our with H.C. question from next comes Wainwright.

Yi Chen

the without with chance will for the you with my my allow any to you do the market question. think is first Thank meeting trial. Hemopurifier additional Aethlon upcoming FDA your question Jim there’s taking FDA that

Jim Joyce

is meeting underlying that out Breakthrough I that designation want this indication specific first and designation. to point the Device the Well, that to

indicated need two already we – our absence the conduct studies have In ID as that So, to exist. the The rule. gaining place, indicates demonstrate still where case of a to very doesn’t has we inhibit controlled feasible difficult rule viral been us studies. factor active controlled impossible run cases known it they in would run issue with demonstrate don’t to in threatening we if had of high-thread to with not And efficacy. what’s study to types conduct rule or life fall many able pathogens. the animal to controlled rely drug be to very not in countermeasures maybe And this even animal different advancement studies human biologic if human animal other the to animal if significant on against in the a ability under we if our if many which is pathogens, a human that your the of it models efficacy we for FDA vaccine, were

to that replicate vitro So point The have would with viruses viruses be we life-threatening damage studies long biggest to the the difficult be target. what would I that virulent the in if other the that, human are viruses safety where able cartridge. to there if can in Hemopurifier validate. our to use would therapy scenario is we mention it’s probably device that where blood viral in a believe pathogen from of treatment a removable highly we study so it, of capture clinical were also conduct individuals a pathogens studies our treated actually no only question that certainly next approved is and we history our are validate And study therapy in point that quantify be in would captured again the would to we’re and an you would single fact of threatening designed have asset we with clinical

we on observational virus. data, that can we verification as rely we’re So provide the capturing – don’t

absolute So device its FDA of an well data can they it’s up our is action. of absolute combination challenges not historic extra-corporeal devices, instead really mechanism observational to performing absolutely had factors that performance. of Whereas, again, for a to on often with of factored they but validate rely quantification the

be for but So optimistic optimistic. too upside we’re to us there’s no

If have get appreciate very we these really to worked and been dealers we’re have with for we’re in clearance. But immediate to discussions going a we productive We I awhile. think an FDA that with you going think meeting.

Yi Chen

marketing be let’s timeframe. Okay, terms But human about controlled trial can you capacity manufacturing that commercial ready size do Hemopurifier. be say, reasonably you you got are let’s in it. for FDA some of requires some go you a would six you analysis months not production? but say to how additional analysis going would to And Then completing –

Let’s get it say clearance. towards when

Jim Joyce

Yes.

– the marketing the not as manufacturing challenge So is the manufacturing bigger component. component as

from cartridge its it that on scalable expensive bind to that CGMP bind it there cost utilize if to have but we And covalently not last ability to galanthus viruses. product. which to of nivalis effective thing but we’ve establish scalable or that the that worked matrix hard is our ability we one utilize an its very we scalable galanthus produce large high-immuno scale the already We scale. that natural the to our one that GNA. production is access quality the agglutinin source. isolated or product. the unique everything shell manufacturing build hasn’t provides years, scale not fibers, a Over We is is structure been GNA of produced nivalis two surface And mobilized manner a system, the agglutinin, But

to really that to been the we’ve demonstrate gene we other feasibility activity out GNA from Texas. exceed that the done and or always large the that very, the producers we this tobacco study affinity things a a just had facility we insert [indiscernible] plant a from the we the gene via doing equals product iBio we’ve we’ve a and isolating in Bryan, the problem and never group Texas based that a methodologies the GNA and through we had exploring in or normally working for or inserting it’s until working had from seen the work saw the protein into in production in low very natural with we’ve scale we started years that called get price. work gene remarkable normally with is ability inserting have And that of And in GNA – – activity Michel success for they activity can natural tobacco. the we down source. one different few So in there see have Never

right the usually So or At – before in program. present, that’s cartridges that’s are scale where us something have a that we of when have point other a production of clinical we lots of price some very solution unlock favorable can And we in think can working type gives XXX that to research large now. through study that we makes manner margins. a are been XXX manufacturing kind that cartridges they

about is a as that But that lot awful think our wants advancing to key to component. we multiple Frakes is Jim in an capabilities fronts. this manufacturing GNA something on well. production And add So in

Jim Frakes

you. Thank

a still So and somewhere down, three now scale we are run. working key us to wanted because where the takes that of months your a the to question. between I timeframe production, It two large element of address production complete ingredient cost

So performed wanted compact how study it’s I six the than in long the original takes Jim slower production turn you some run to actually your our by month will I question. – to give it back for But it feel Joyce. manufactures. to

Yi Chen

Okay.

Operator

reached This Jim conference closing question-and-answer for time to I’d now Joyce our over the remarks. questions. we’ve like turn our session. And allotted for concludes to back

Jim Joyce

future look Thank to some you, shareholders navigate I much. your I’m operator. seeing appreciate challenges. And calls. we you today. you and you forward and through excited continued in are We have we today. everyone’s been appreciate And know very many long-term about participation watch support us of very Thank where

Operator

today’s is you conference The concluded. now for presentation. attending Thank

disconnect. You may now

Aethlon Medical (AEMD) 1 Feb 182018 Q3 Earnings call transcript