Biora Therapeutics, Inc. (NASDAQ:BIOR) Q3 2023 Earnings Call Transcript

The data obviously is getting good enough, which is why I mentioned that we’re seeing the accelerated interest. We’re getting more incoming people asking us about working with us, and that’s why we were we were able to say we’ve already got a discussion with a fourth collaborator that could lead to a research collaboration in the near term — another big company. So we see that this data generation translating into what could be meaningful partnerships being the short term thing to focus on with BioJet, and then later next year, worry about what a clinical plan might look like.

John Vandermosten: Okay. And now this fourth collaborator, since you’ve done a lot of the preclinical work already, and so have some of your partners, are they coming in at kind of a later stage where they already know what to expect? And you might be a lot closer to moving on to an advanced relationship with the fourth partner? Where does that stand just given all the preliminary work that’s already been done for BioJet?

Adi Mohanty: Yes, I think the way I see it is that several — whatever, a year or two ago — when we have these other collaborations, those discussions were around some early stage. Our first gen, our BioJet device, and so we work with these collaborators to do things like establish success criteria, which is why we talk about meeting targets and establishing development of our device milestones. All of those, now that we’ve completed, we’re now looking at the next stage of, okay, go ahead and try our molecule. So this fourth collaborator would come in at that stage of, go ahead and try our molecule. Because I’ve seen this other data, and that’s what encourages me, right? That people are seeing that we’ve done the development work.

We’ve done the core work. We now have several molecules that we have run with this device, and it’s all meeting those general commercial performance targets that people want to see. And so now it’s about working with their molecule, and depending on how that goes, quickly progressing that relationship. So certainly that should move much faster than our earlier collaborators — collaborations that moved. But we’re excited about all of them. So we are at that point, right, with the other collaborators, where we’re starting to get data with their molecules that allows us to have those next conversations.

John Vandermosten: Great. Right. Thank you, Adi. Appreciate it.

Operator: Thank you. If there are no further questions at this time, I’d like to hand the call back over to Adi Mohanty for any closing comment.

Adi Mohanty: Well, thank you again for joining us today for our financial results call. We’re excited about the progress we’re making, and we look forward to keeping you updated. Thank you. Have a good evening.

Operator: This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.