Q1 2024 ENDRA Life Sciences Inc Earnings Call Transcript
Key Points
- ENDRA Life Sciences Inc (NDRA) has successfully activated new clinical research sites in target markets, enhancing the body of clinical evidence for their technology.
- The company has installed its first payer system in the United Kingdom at King's College Hospital, marking a significant milestone in the U.K. market.
- ENDRA Life Sciences Inc (NDRA) is closely working with the FDA to align on clinical requirements for their TS system's de novo application, with a pre-submission meeting scheduled this quarter.
- The company is leveraging accelerating market developments in liver disease detection and treatment to strengthen its position.
- ENDRA Life Sciences Inc (NDRA) is expanding its intellectual property portfolio, securing eight new patents this year, bringing the total to 80 issued patents worldwide.
- The company reported a net loss of $2.8 million for the first quarter of 2024, indicating ongoing financial challenges.
- Research and development expenses have decreased, which might impact the pace of innovation and development of new technologies.
- General and administrative expenses have increased, mainly due to higher professional fees, adding to the financial burden.
- The reliance on FDA approval for significant market expansions, such as the distribution agreement in Vietnam, poses a risk if regulatory approvals are delayed or not received.
- ENDRA Life Sciences Inc (NDRA)'s cash and cash equivalents were relatively low at $1.1 million as of March 31, 2024, which may necessitate further fundraising to sustain operations.
Good day and welcome to the NGO Life Sciences First Quarter 2024 financial results conference call. All participants will be in a listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question. You may press star then one on your touchtone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Yvonne Briggs. Please go ahead.
Thank you, operator. This is Yvonne Briggs with LHA. Good afternoon, and welcome to Andrew Life Sciences First Quarter 2020 for a business update and financial results. Conference call or earlier today, Andrew issued a press release on this topic, which is available in the investor sections of Enterra's website.
Before we begin, please note that today's discussion will include forward-looking statements. All statements by
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