OraSure Technologies, Inc. (NASDAQ:OSUR) Q3 2023 Earnings Call Transcript

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Ken McGrath: Yeah. And just to build on what Carrie said. So right now we have $225 million of cash, we expect that to increase based on the tailwinds that I mentioned earlier. We probably need that we want to keep maybe about $60 million to $80 million to cover our annual operating expenses and maybe we’re being really conservative there. So you can imagine that gives us a little bit of gunpowder to work with. And as Carrie has mentioned before and I mentioned in the past is that what we want to look at is starting with partnerships, and we’re trying to be disciplined and diligent in what we look at and making sure that the partnerships that we get have a high opportunity for success to be able to drive future growth and profitable growth. That’s our mindset as we look through it.

Carrie Eglinton Manner: Where our strengths can really be an accelerator together with that, so there’s a lot to look at, and I’d say we’re looking at everything. But we’re just really taking our time to choose what we think we’ll be in the right thing.

Andrew Cooper: Great. I will stop there. Thanks for the question.

Carrie Eglinton Manner: Great. Thanks Andrew.

Operator: One moment for our next question. The next question comes from Patrick Donnelly of Citi. Patrick, your line is now open.

Unidentified Analyst: Hi. This is Brendan on for Patrick. Just one quick one for me. So last earnings call you guys highlighted infectious disease respiratory and sexual health of possible areas to extend to. So I was wondering have there been any updates on — I mean of those areas or any new areas that are kind of in the pipeline for you guys that may become revenue generating in the next few quarters or years?

Carrie Eglinton Manner: Yes. So in terms of the strategy around building on our strong infectious disease and sexual health portfolio that’s exactly what we’re plugging into with the first partnership agreement for International segments which includes Syphilis, I’d say both US and international. And let me be clear the partnership we’ve announced is for international distribution. But Syphilis is one of the fastest-growing STIs plug in very well with our HIV and HCV portfolio as well as an international HCV test and hep B test. We — that’s right in this realm of infectious disease and sexual health. In terms of sort of near quarter impact. I would reiterate that we — while we are not providing guidance for 2024. I would say any launch of distribution you expect to ramp up and I wouldn’t call that in the next few quarters.

But rather we think that it’s a really strong example of expanding our comprehensive portfolio and it’s right in line with the strategy we’ve been talking about for the last year. So right in the wheelhouse of our existing commercial team the client relationships we have our public health and donor interest as well. And part of our excitement to announce these partnerships is it’s just that it’s right there in the portfolio.

Unidentified Analyst: Great. Thank you.

Carrie Eglinton Manner: Thanks, Patrick.

Operator: This concludes the question-and-answer session. I would now like to turn it back over to President and CEO, Carrie Eglinton Manner.

Carrie Eglinton Manner: Thank you so much and thank you to everybody for joining. We appreciate your interest in OTI and look forward to our ongoing conversations. Thank you.

Operator: Thank you for your participation in today’s conference. This does conclude the program. You may now disconnect.

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