Biora Therapeutics, Inc. (NASDAQ:BIOR) Q3 2023 Earnings Conference Call November 13, 2023 4:30 PM ET

Company Participants

Chuck Pedala - LifeSci Advisors

Adi Mohanty - CEO

Eric d'Esparbes - CFO

Conference Call Participants

Joe Pantginis - H.C. Wainwright & Co.

Julian Harrison - BTIG

John Vandermosten - Zacks Investment Research

Operator

Greetings and welcome to the Biora Therapeutics Third 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 is now my pleasure to introduce your host, Chuck Pedala, Managing Director with LifeSci Advisors. Thank you, Chuck, you may begin.

Chuck Pedala

Thank you, operator. Good afternoon and welcome to the Biora Therapeutics Third Quarter 2023 Corporate Update and Financial Results Conference Call. Joining me on the call are Adi Mohanti, Chief Executive Officer; 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 reports Form 10-Q that we'll file later today in our subsequent reports filed with the SEC, which are available on our website in the investor section.

These forward-looking statements represent our views only as of the date of this call, potential risks and uncertainties, including many that are beyond our control. Please note the actual results could differ materially from those expressed in the 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 now turn the call over to Adi Mohanty, CEO of Biora Therapeutics.

Adi Mohanty

Thanks, Chuck, and thank you, everyone, for joining us. During the third quarter, we continued to make excellent progress with both of our platform technologies. The NaviCap platform is rapidly advancing towards initiation of a Phase 1 clinical trial by year end, and development of the BioJet platform has accelerated with an increased pace of data generation from several molecules, including those of our pharma collaborators.

First, an update on our NaviCap targeted therapeutics platform with our lead program, BT-600 in ulcerative colitis. Research suggests there is a minimum level of drug needed in the tissue at the site of disease to achieve better therapeutic outcomes in ulcerative colitis or UC. Our technology can potentially increase tissue concentration without systemic toxicity, which could provide improved outcomes for UC patients. We hope to demonstrate this with a Phase 1 clinical trial, which we are on track to initiate by end of this year.