Capricor Therapeutics, Inc. (NASDAQ:CAPR) Q4 2022 Earnings Call Transcript

AJ Bergmann: Yes. Hey, Brian. Thanks for the question. To your first point, just to be very clear, I laid this out in earnings press release, hopefully you caught it, but it was a couple of minutes before the call. We sold shares under our ATM early on in the fourth quarter, predominantly October, all of those numbers in sales were disclosed in our last quarterly filing. And in this quarter and really all of December following our last quarterly call, which I think occurred on November 10, we have sold no shares under our ATM. So as you mentioned, we took advantage of our stock being in a nice position back in those days, but have sold no further shares. In terms of the number delta change in shares outstanding, most likely due to option exercises, et cetera, but nothing triggered right to the ATM.

In terms of your next question. Obviously, the reimbursement is critical for us and our success down the line. We have a really nice structure with NS Pharma and Nippon Shinyaku in terms of what we will receive as a meaningful double digit split of net product revenue. We have early estimates of what we feel that this drug will be priced at. It will ultimately come down to how good the data is both in the skeletal and cardiac arena. But it’s something, of course, we’re very focused on and will be with our partners. These exon skipping drugs that are approved in the U.S. have very high price tags and they hopefully CAP-1002 will be right in that range as well.

Brian Corday: Okay. And can you comment at all on does Nippon have any kind of right of first refusal on any type of acquisition of the company outright?

AJ Bergmann: Yes, this is something we haven’t gotten into and disclosed publicly. We have a that’s all we’ve basically stated, but now that Japan has been established. It’s pretty clean. So it’s just not something we’ve got into the details right now at this point.

Brian Corday: Okay. Alright. Well, I appreciate it. Thank you so much and keep up the great work.

Linda Marban: Thanks, Brian. See you soon.

Operator: At this time, I would like to turn the floor back over to Capricor’s management for final thoughts.

Linda Marban: Yes. Thank you, operator, and thank you to everyone who had joined us this afternoon. Before we conclude today’s call, I would like to thank the entire Capricor team, our investors and the many people who have been supportive along the way, especially our patients and their families. Once again, thank you for joining.

Operator: This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation and have a great day.