PetVivo Holdings, Inc. (NASDAQ:PETV) Q3 2023 Earnings Call Transcript

John Lai: Correct. So we say generally it lasts a year, it all varies. We have seen last well beyond a year. And we’re comfortable saying a year because when we did the human studies on the human side, we track the humans for a year and we’re able to identify the particle still in the body. So we have seen situations where in birth defect puppies, where they came of age, where everything is pretty grown in, we have done injections of defective hips where the particles have so far lasted eight years, which was really surprising. So and I talked about the improvement after the matrix is going into the joint, once that scaffolding starts to formulate, it tends to keep the joint functioning even better. So when you first did the injection in the horse, I kind of said you wanted to wait 10 days, but I guess the trainer and your dad said it was okay to let the horse run after a few days, which kind of surprised me, but the horse did extremely well.

Unidentified Analyst: He did you, he ran incredibly. May I’d wanted to wait, but the trainer they, that’s their livelihood. So he wanted the horse right back on the track. And what was it, gosh, a month or two ago, he went as fast as he ever had in the last two years in a five-degree weather just won the race for fun. I mean think there are 20 lengths between him and the rest of the pack. And it is absolutely incredible.

John Lai: Well, that’s great to hear. Thank you.

Unidentified Analyst: Yes.

Operator: , you can unmute yourself.

Unidentified Analyst: Yes sorry. Thanks for the call. My question relates to if you could just go over again your burn rate. And then also your milestones, what are the milestones that are sort of in progress or that you see developing over the next 12 months?

John Lai: So we stated probably back in August of 2020, when we went on NASDAQ, if you look at the PowerPoint from back then, the milestones would get these studies out, because studies allow our regional sales reps to work with the MWI sales reps to point to specific data to the vets. And those mouse we believe there will be very good adoption for the canine side once that gets published. So John Dolan talked of seven them that are in process. So we feel there’s, multiple milestones from that standpoint. So these papers we’ll get published, so that will also help in the adoption. The burn rate, I think it’s probably around $2 million per quarter. Bob, you can comment on that, if I’m not too far off, but I kind of recall looking at it, that was the type of number.

Bob Folkes: Yes, you’re hitting the ballpark.

John Lai: Yes.

Unidentified Analyst: Okay. And then – so timing on those clinical trials and studies, can you give any kind of time frame, timetable on how it will be released?

John Lai: No we completed the Ethos one which was on to cruise ships and dogs because we’re focusing each study on a different joint so that one was completed at the end of October, the first cohort. And the clinician had requested to get it present at the Veterinary Orthopedic Surgical Annual Conference, which is mid-March, so that’s coming right up. And I think it bodes well because we don’t get to feed the results of study that they’re actually getting to present there because that’s all Board-certified surgeons. So it’s a pretty prestigious organization. And once that gets presented, we’ll have an abstract for the salespeople to use. And on top of that, Ethos is a very well-respected private research organization. They do work for Merck Animal Health, and so on.