Better Therapeutics, Inc. (NASDAQ:BTTX) Q1 2023 Earnings Conference Call May 11, 2023 8:30 AM ET

Company Participants

Mark Heinen - CFO

Frank Karbe - President and CEO

Diane Gomez - Chief Commercial Officer

Mark Berman - Chief Medical Officer

Conference Call Participants

Thomas Flaten - Lake Street Capital Markets

Lucas Romanski - TD Cowen

Keay Nakae - Chardan Keay

Rahul Rakhit - LifeSci Capital

Operator

Good morning and thank you for standing by, and welcome to the Better Therapeutics' First Quarter 2023 Conference Call. At this time all participants are in a listen-only mode. After the speakers' presentation, there’ll be a question-and-answer session. [Operator Instructions]. Please be advised today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Mark Heinen, Chief Financial Officer. Please go ahead.

Mark Heinen

Thank you, operator. Good morning, everyone, and welcome to the Better Therapeutics conference call. Our press release was issued this morning and can be found in the Investors section of our corporate website, bettertx.com. Joining me on the call today is Frank Karbe, our President and Chief Executive Officer; Dr. Mark Berman, our Chief Medical Officer; and Diane Gomez-Thinnes, our Chief Commercial Officer. During today's call, we will provide a business update and a financial overview of the first quarter of 2023. A Q&A session will follow our prepared remarks.

Before we begin, I'd like to remind everyone that any statements we make or information presented on this call that are not historical facts are forward-looking statements that are based on our current beliefs, plans, and expectations that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual events and results may differ materially from those expressed or implied by any forward-looking statement.

With that, I'll pass the call over Frank Karbe. Frank?

Frank Karbe

Thank you, Mark, and good morning, everyone. Thanks for joining us on the call today. We successfully navigated several challenges in Q1. And with that, we believe laid the foundation for our long-term success. We also advanced our interactions with the FDA and are now within the final 90 days of our review. And with that in mind, we have continued to advance our preparations for the anticipated commercial launch of BT-001 in type 2 diabetes, including discussions with potential launch partners.

Before I recap our accomplishments in the first quarter, I want to acknowledge the news of Pear Therapeutics' filing for bankruptcy. This is obviously a devastating outcome for Pear and setback for prescription digital therapeutics or PDTs. As one of the true pioneers in the industry, Pear paved the way for the investment and innovation, their contributions to creating PDTs as a new category. However, the difficulties likely raised doubts around the commercial viability of PDTs. And it is therefore more important than ever to perhaps highlight that the dynamics across the different PDT players are, in many cases, quite different.