ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Q2 2023 Earnings Conference Call December 15, 2022 10:30 AM ET

Company Participants

Jennifer Bath – Chief Executive Officer

Barry Duplantis – Vice President-Client Relations

Ilse Roodink – Chief Scientific Officer

Brad McConn – Chief Financial Officer

Conference Call Participants

Swayampakula Ramakanth – H.C. Wainwright

Michael Freeman – Raymond James

Will McHale – Ingalls & Snyder

Operator

Good morning and thank your standing by. Welcome to ImmunoPrecise Antibody’s Second Quarter Fiscal Year 2023 Earnings Conference Call.

Also on the call with us today are Jennifer Bath, Chief Executive Officer; Brad McConn, Chief Financial Officer; Ilse Roodink, Chief Scientific Officer; and Barry Duplantis, Vice President of Client Relations.

Before we get started, remember some statements we make today may be considered forward-looking statements for the purposes of applicable United States and Canadian securities laws. IPA cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Additional information about these risks and uncertainties is included in our SEC filings. IPA undertakes no obligation to update these forward-looking statements except as required by law.

On today’s call, non-GAAP financial measures may be used to help investors and analysts understand IPA’s business performance. We refer current and potential investors to the forward-looking information section of its Management’s Discussion and Analysis issued today at www.sedar.com and on EDGAR at www.sec.gov.

With that I’ll turn the call over to Dr. Bath.

Jennifer Bath

Thank you, Dennis. Good morning everyone. I’m glad that you are able to join us today. We’re excited to share with you IPA’s second quarter updates and our progress toward achieving our strategic goals for the fiscal year, including the steady growth of our revenue driven by our expanding client relations team, as well as milestone achievements with our in silico platforms from our newest subsidiary, BioStrand.

With several goals in mind, the company recently announced its voluntary delisting from the TSX Venture. These goals include creating a central market for its common shares on the NASDAQ, enhancing long-term liquidity and shareholder value, lowering administrative and legal costs, saving time, and harmonizing reporting requirements. Finally, we believe that de-listing from this exchange makes it easier to reach institutional investors who are prohibited by compliance from investing in such exchanges.

IPA is considering a shift in its corporate offices as a compliment to its recent delisting from the TSX Venture. While the exact potential location has not yet been selected for shareholder approval at a future special meeting of shareholders, some of the key location characteristics being considered include a U.S. location with access to high-performing workforce with relatively low average wages, a region with expanding technology-based businesses that is complimented by numerous business incentives and easy access to government officials, highly competitive cost of business operations, and a highly educated workforce. This quarter, we look forward to keeping you informed of any developments relating to this particular update.