Q2 2024 Biora Therapeutics Inc Earnings Call Transcript
Key Points
- Successful completion of Phase 1 clinical trial for BT-600 using the NaviCap platform.
- Significant progress with partners on the BioJet platform, including active partnership discussions with large pharma companies.
- Positive pharmacokinetic data showing targeted drug delivery to the colon with reduced systemic exposure.
- Strong support from large shareholders, resulting in a $16 million capital raise.
- Presentation of Phase 1 clinical trial data at the upcoming American College of Gastroenterology Annual Meeting.
- High operating expenses of $14.5 million in Q2, excluding stock-based compensation.
- Continued investment required for device development and clinical activities.
- 40% of G&A costs associated with legacy matters, which are expected to be eliminated by the end of the year.
- Uncertainty around the completion and details of the pharma partnership discussions.
- Potential challenges in scaling up manufacturing capacity for NaviCap devices to meet future demand.
Welcome to the Biora Therapeutics second quarter 2024 financial results call. (Operator Instructions). As a reminder, this conference is being recorded.
I will now turn the call over to Chuck Padala, Managing Director with LifeSci Advisors, Biora's Investor Relations firm. Please go ahead.
Thank you, operator. Good afternoon and welcome to the Biora Therapeutics second quarter 2024 corporate update and financial results conference call. Joining me on the call are Adi Mohanty, Chief Executive Officer; and Eric d'Esparbes, Chief Financial Officer.
Before I turn the call over to Mr. Mohanty, I would like to remind you that today's call will include forward-looking statements within the meaning of the federal securities laws, including, but not limited to, the types of statements identified as forward-looking in our quarterly report on Form 10-Q that we filed or will file later today and our subsequent reports filed with the SEC, which are available on our website in the Investors section.
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