Better Therapeutics, Inc. (NASDAQ:BTTX) Q2 2022 Earnings Conference Call August 11, 2022 8:30 AM ET

Company Participants

Mark Heinen – Chief Financial Officer

Frank Karbe – President and Chief Executive Officer

Mark Berman – Chief Medical Officer

Conference Call Participants

Thomas Flaten – Lake Street Capital

Rahul Rakhit – LifeSci Capital

Keay Nakae – Chardan

Operator

Good morning, and welcome to the Better Therapeutics Second Quarter 2022 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the call over to Mark Heinen, Chief Financial Officer. Please go ahead.

Mark Heinen

Thank you, operator. Good morning, everyone. And welcome to the Better Therapeutics conference call to discuss our second quarter 2022 financial results and business update. Our press release was issued this morning and can be found in the Investors section of our corporate website at bettertx.com.

Joining me on the call this morning are Frank Karbe, our President and Chief Executive Officer; Dr. Mark Berman, our Chief Medical Officer; and Dr. Deepti Jaggi, our Chief Strategy and Commercial Officer.

During today's call, the team will provide a business and financial overview of the second quarter of 2022 and provide our outlook for the third quarter of 2022 and beyond. A Q&A session will follow our prepared remarks.

Before we begin and as a reminder, today's discussion will include forward-looking statements related to Better Therapeutics current plans and expectations, which are subject to certain risks and uncertainties. Actual results may differ materially due to various important factors, including those described in the risk factors section of our most recent SEC filing. These forward-looking statements represent our views as of this call and should not be relied upon as representing our views as of any subsequent date. We undertake no obligation to publicly update these statements.

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

Frank Karbe

Than you, Mark. Two weeks ago, we announced the successful completion of the BT-001 pivotal trial, evaluating this first-in-class investigational prescription digital therapy or PDT for the treatment of Type 2 diabetes. We were thrilled with the results, which in some cases, in fact, exceeded our expectations. The key takeaways from our presentation were that our digitally delivered nutritional cognitive behavioral therapy, or nCBT, has the potential to meaningfully impact behavior, and that such behavior changes have the potential to be powerful medicine. The exploratory endpoint data specifically highlighted that behavior change that addresses the root cause of a disease has the potential to significantly improve a specific symptom, such as blood sugar, but that whole array of additional health measures can also be positively impacted, potentially putting patients on a different long term health trajectory, and thereby potentially changing the course of the disease.