Biora Therapeutics, Inc. (NASDAQ:BIOR) Q2 2023 Earnings Conference Call August 14, 2023 4:30 PM ET

Company Participants

Chuck Padala - Managing Director, LifeSci Advisors

Adi Mohanty - Chief Executive Officer

Eric d'Esparbes - Chief Financial Officer

Conference Call Participants

Joe Pantginis - H.C. Wainwright

Julian Harrison - BTIG

John Vandermosten - Zacks Investment Research

Operator

Greetings, and welcome to the Biora Therapeutics Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It's now my pleasure to introduce your host, Chuck Padala, Managing Director with LifeSci Advisors. Thank you. You might begin.

Chuck Padala

Thank you, operator. Good afternoon, and welcome to the Biora Therapeutics second quarter 2023 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 with the SEC, which are available on our website in the Investors section. These forward-looking statements represent our views only as of the date of this call and involve substantial risks and uncertainties, including many that are beyond our control.

Please note that the actual results could differ materially from those projected in any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements as well as risks related to our business, please see the company's periodic reports filed with the SEC.

With that, I will turn the call over to Adi Mohanty, CEO of Biora Therapeutics. Adi?

Adi Mohanty

Thanks, Chuck. and thank you everyone for joining us. During the second quarter, we continued to make excellent progress with our NaviCap platform, advancing toward our planned IND filing in Q3 and with our BioJet platform, where we continued our progress on device development and testing. We also further strengthened our intellectual property position for both platforms.

First, an update on our NaviCap Targeted Therapeutics platform with our lead program BT-600 in ulcerative colitis. Currently available therapeutics for ulcerative colitis or UC work by entering the bloodstream and circulating systemically throughout the body with a limited amount of drug reaching the colon, which is the site of the disease. Research suggests there is a minimum amount of drug needed in the tissue at the site of disease to achieve better therapeutic outcomes. Reaching or exceeding this threshold in the tissue should improve patient outcomes for UC.