Q2 2021 SanBio Co Ltd Earnings Call Transcript
So good afternoon. Thank you very much for coming to this update meeting today. My name is Keita Mori, CEO of SanBio. As you can see, we have a number of topics today, so I'd like to go straight into the subject today.
So first, a brief update on the finance results. First, I'd like to go over the income statement. As we are product development stage, R&D cost is the important factor for our business. And as you can see, our R&D costs fell by about $2 million year-to-year due to lower clinical churn expense despite the rise in the manufacturing-related expense. But as you see, overall, it's about $20 million last year, and this is about $18 million this year. So overall, the spending is about the same, and we continue to proactively conduct development to increase the value of our products and the company.
Now going to the balance sheet. Here, the important aspect is the cash. And in the last 6 months, with the spend, we have a decrease of about $27 million equivalent. However
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