The following is a summary of the Biora Therapeutics, Inc. (BIOR) Q1 2024 Earnings Call Transcript:
Financial Performance:
Biora Therapeutics reported operating expenses of $40.5 million, mainly due to investment in device development, preclinical, and clinical activities.
G&A expenses were $8.1 million, almost 40% of which were associated with legacy matters.
The company's net loss for Q1 2024 was $4.2 million, including noncash stock-based compensation expense and gain from a change in warrant liabilities.
Biora's operating cash burn for the quarter came to $11.5 million.
Business Progress:
Biora Therapeutics has made significant progress in its clinical development plans for the NaviCap platform, as demonstrated by successful performance and full colonic coverage.
The company has completed dosing in a clinical trial for the drug BT-600 and aims to share data in Q2 2024.
The planned initiation of a clinical study for BT-600 in patients with Ulcerative Colitis is expected to begin during the second half of 2024.
The BioJet platform has exceeded its performance targets and demonstrated advances in consistency and bioavailability for the semaglutide peptide candidate and the adalimumab antibody candidate.
There is significant interest in collaborations relating to the BioJet platform, and there are ongoing discussions about such collaborations.
More details: Biora Therapeutics IR
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