Biora Therapeutics, Inc. (NASDAQ:BIOR) Q3 2022 Results Conference Call November 14, 2022 4:30 PM ET

Company Participants

Alexandra Schuman - IR, LifeSci Advisors

Adi Mohanty - Chief Executive Officer

Eric d'Esparbes - Chief Financial Officer

Conference Call Participants

Joe Pantginis - H.C. Wainwright

Julian Harrison - BTIG

Mayank Mamtani - B. Riley Securities

Operator

Welcome to the Biora Therapeutics Third Quarter 2022 Earnings Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions [Operator Instructions].

I will now turn the call over to Alexandra Schuman, Associate Director with LifeSci Advisors of Biora’s Investor Relations Firm.

Alexandra Schuman

Thank you, operator. Good afternoon. And welcome to Biora Therapeutics third quarter 2022 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 will file later today and our subsequent reports filed with the SEC, which will all be available on our Web site 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 the 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 now turn the call over to Adi Mohanty, the CEO of Biora Therapeutics.

Adi Mohanty

Thanks, Alex. And thank you everyone for joining us. During the quarter, we continued to focus on execution and made important progress towards our IND filing for PGN-600. We presented at key scientific conferences more detailed data from our device function studies for our targeted therapeutics program. In our systemic therapeutics program, we continue to optimize our device and presented important new data at multiple scientific conferences. While almost all our energy and focus is on our therapeutics pipeline, we remain committed to capturing value from our legacy assets, through sale, licensing or other agreements. We recently completed a transaction with Roche to sell some of our legacy IP. And earlier this year, we completed a spin out of our liquid biopsy assets to a company now funded by an experienced venture capital firm to further develop the program. As those programs moved forward towards key value inflection points, our stake in the assets could eventually result in meaningful financial return to Biora. We continue to pursue opportunities to create further value with our other remaining legacy assets. We also opportunistically raised incremental capital to extend our runway towards key data readouts next year. Eric will cover the details later in the call.