Loading...
Docoh

MyMD Pharmaceuticals (MYMD)

Participants
Ben Simons Global Public Relations Manager, Vigo Communications
John Gormally CEO
Dr. Ray Akers Executive Chairman & Chief Scientific Director
Gary Rauch VP, Finance
Marc Robin Catalyst Research
James Terwilliger Paulson Investment Company
Call transcript
Due to licensing restrictions, you must log in to view earnings call transcripts.
Operator

Good morning and welcome to the Akers Biosciences Conference to discuss the Third Quarter 2017 Earnings.

As a reminder, this conference call is being recorded. I would now like to introduce your host for today’s conference, Ben Simons with Akers Corporate Communications team. Ben, please go ahead.

Ben Simons

Thanks, Ashley [ph]. thank joining and everyone morning you us. for Good

Gary today John Ray Gormally the Director; the call Company’s have me with and Scientific Chief Dr. On the of we CEO; Chairman and the Rauch VP Executive Finance. Akers and

Harbor summary Safe Ray and results, up we of progress the John overview then Gary the will quarter open questions. the financial third statement, and an call will of the Following provide in provide for a before

the with over unduly Federal which expectations reflect for disclaims Securities or updates statements Gormally. to is relied hand herein or based. now revisions to any ask made, are to to everyone the listening and Before forward-looking in undertaking change described I’d the be take including to underway, John news we Commission this laws, like required release risks statements to in subject those or in Thank paragraph Akers CEO, paragraph to publicly financial at get the the morning. circumstances of contained regard call appears to any by uncertainties, otherwise events, not to should any Exchange release Company’s reports Securities conditions like states Harbor speak and obligation that the you or changes Bio published end date to Safe which the I’d filed on such only and note Company with any any elsewhere the the were results statement Company’s forward-looking This Except detail makes, that inherent in any that the our that and as Company as of upon. of any

John Gormally

XQ X% morning the up continued towards trajectory Thank everybody. revenues up gross our positive and Ben, were you, the demonstrating profit year-to-date was good year-to-date and and profitability. XX% Both

brief of Dr. with Company’s the summary my Akers call to before continue I the products to a who Founder is for of the summary the give Ray like new technology benefits to and on the ask quarter, Now, of third I anyone would Company. the

Dr. Ray Akers

good platforms in by that everyone. the These breath. and and wellness detect person's stage antibody are and and testing biomarkers technology tests. present applied that disease a conditions blood facilitates John health that morning samples various Bio or Thanks technology include proprietary medical is now platforms and Akers being metabolic technology of underpinned

derived faster rapid allergy basic to Our strategy our our and heparin. expensively to and for limb called technology is existing At HIT or to because main than in saving world life antibody complication from widely-used develop potential still information test is it of know, provide a of blood blood and revenues also the thrombocytopenia condition inexpensive. a heparin faster this heparin-induced of is threatening widely-used alternatives making to a our is product the most is thinner diagnosis the use are for test present, thinner, methods. key it test money of and health less commercialized therapy. is is test medicine The and decision paramount as in to significantly many you test. is Majority good speed existing to And ultimately our than Heparin and

a these with significant line which a could reading and and industry of use result test users health good commercial for the person’s the the enables the wellness of indicator well breathalyzers to first breath developed that which certain overall this for test There which opportunities the and is a also have health sync stress device Company. is are successful employee a revenue is with for oxidative initiatives We Bluetooth-enabled one being.

resulting provides beginning breathalyzer self-test cholesterol, the estimate the ago alcohol was from of which which years a efforts rapid is the rapid Company's product, to now interest, marketing a overseas developed not for breathalyzer also distributors. be The has an disposable Company see cholesterol, some Although the an providing first are cholesterol, of over-the-counter of core cholesterol. ever commercialized screening of cholesterol resurgence otherwise person's levels estimate known to good person's truly the essential and the a total as high cholesterol. LDL bad otherwise well differentiating good known HDL as cholesterol for the making thereby person's between These tests as levels, features thereby accurately bad as to effective

test selling popular First in store drug Check under started the recently Our has brand major chains.

and ketosis. advanced wellness the in and and a products of the BreathScan level number to a research of include these development stages have health We of test KetoChek, determine

most under BreathScan also including is diabetic advanced of ketoacidosis, not a in stages diabetes, Food test trials type also the number the is prevalent of asthma. home for Food Chlamydia, disease, transmitted submission with Administration. and and a products as and X, PIFA BreathScan ready to have DKA, final the the minute rapid first be for the but only we review stages complication Drug which some serious test X, the rapid and the KetoCheck, of type PulmoHealthh, it clinical sexually test is to We in added And the Administration two by first for Drug speak.

in continue are confident submission on the data our this We and to wait and clearance. market package test

John Gormally

Thank you, Ray.

to Company the revenues significant allergy recently volume a occurred. the solid the was thinner, a test flagship satisfied to the our has I however, from of of plateau this of blood majority is you sales for current generated not There in heparin. revenue that sales comes with test; think be all our foundation the for know stream reliable

HIT platelet on HIT are attention HIT testing central raising to We are growth the X the the our factor on of increasingly specifically availability that of pursuing advancing clinical pre-op awareness with actively and future rapid generating by campaigns awareness focusing pathways study surgeons who a antibody, encourages for test.

China this sale the distributor believe provinces. when to various will in gains NovoTek rates continue We reimbursement for our partner materialize of approvals product from

own key add. opinion working leaders NovoTek expense the created their Now and past with by over sample with the might has marketplace several demand identifying seeding I product the years, products at significant and

an they products XX% up reimbursement result in demand strong once in at driven OxiChek, in believe also become test although the approved, a the anticipate Akers quarter major a timing were breath We're interest our a growth which a team years contributor, ahead. breathalyzer unknown a remains sales we BreathScan leadership rates of in are interest will internationally. by time. as resurgence profitable seeing alcohol Wellness the a this point rapid As in Breathalyzer

experiencing First cholesterol began Check rapid products that in estimated our the four retail demand for very encouraging the of test shipments QX. a we is in over-the-counter. is visibility increase distribution and over indicator with This have First agreement Now the times an under shipments good Check

of a the has Gary was in Now, like device and to Medical Company. me North of to with before sales we turn addition sales I the highly experienced one additional as our is and over medical joined would caveat, Pamela was team Hibler Pamela I Pamela at delighted America. that financials, of for the sector and the One she VP on to leadership are BEI Distributions Sales our executives. top mention

Now, invite financials. at to this brief of point, a I’d Gary overview give like the to

Gary Rauch

year. above shows is $X.X third everyone. million. Both periods and the year-to-date sales our QX over good prior revenues corresponding approximately and year-to-date quarter the $XXX,XXX the totaled morning just John, of XX% in while of Thanks,

a reduced the the the tied and associate impact First largely in quarter gross bearing positive and for with it one-off region cost third cholesterol production to to was for from Our margin initializing of for the was but Check XX% that. test XX%,

comparisons bad of and requirements QX, a XXXX. reduced in by but there fourth debt which XXXK, profit X% was X% for allowance reduced but up cash mentioned, on $X.X of $X.X Loss on pipeline XX% John and year-to-date further to from to million. Company to was down week include As Overall excluding that to in prior is quarter $X range to an was the end extraordinary million the the the million $XX,XXX business before million. $X.X the fractionally quarter legal by quarter taxes XXXX. about $X.X of revert of $XX,XXX the These developing increased from burn anticipates encouraging relationship. income Gross by year per expenses million, reversed year-to-date

Our from overhead exploring we John? continue and possibility marketable through rigorously conversions sources our to $XXX,XXX the funding was the position by of non-dilutive the September at receivable profitability. of cash warrants is securities thereafter of approximately manage help the to to and of proceeds bolstered in Company board and around XXst $XXX,XXX bridge

John Gormally

Thanks, Gary.

OxiChek expenses summary, our and XXXX Company with over HIT is U.S., exciting and in positive and very with in catalyst profitability had of encouraging as number the delivery legal rate of opportunity network potential such into There Gary shrinking Now picture would rapid mentioned. integrated which with the take near-term burn ongoing as projects XX% BreathScan year-to-date individual at exception both test extraordinary conversion strategy revenue in of increase cash the the our with China the are a others. the striking

the for than I any to have. several Bio to here of In addition, growth new which be at further XXXX thank excited potential. the about Company introduction happy for leadership targets sales Akers team introduction may everybody believe And questions want we enhance will the listening. will in more remains that take you

Operator

Instructions] [Operator

Ben Simons

Would questions, to Thank before interest tax to number you. in again there mistakes and very before turn I you read a lost allowing lost I in register ask people have a think while just their Gary income just time again? back we're there. income just read asking of you line the And because just briefly may been the tax could

Gary Rauch

quarter before XX% I'm increased by X.X by income but reduced the The million to the to year-to-date sorry in has sure. tax X% million. lost in X.X

John Gormally

Yes, that’s it.

I said… think you

John Gormally

forward Ben. Thanks for point that bringing

Gary Rauch

you, Thank Ben.

Operator

first from have Robin our from And Research. do we question Marc Catalyst

Your line open. is

Marc Robin

the to overseas. bit give color about test that a Talk you a on situation situation? more little with little breathalyzer the Can me alcohol

John Gormally

This half process John. distributor better with today's And engagement our exhausted Surely, a and part very passion detection Accutest. representatives independent Great once Western our that deliberate this one the on and and of called Marketing, wholesaler alcohol of a Britain was twin we our test. And also packs and Prisma. is after a by a year Europe, in Mr. group is secured work Vice our President called Company Carrara, Sylvia manufacturer of in the Doug BreathScan of

are initiative alcohol. that be what is got we and we we have believe of productive just -- beginning to we opening XX,XXX So units excited the that very really have about BreathScan on a in PO for secured

Marc Robin

sorry. So, I am

When that PO the does a opening units? jargon you asking PO, question. for for me mean hand XX,XXX you have Forgive in said

John Gormally

we have shipped did that we fact it, a we secure only PO. have in Not Absolutely, already PO shipped it. we

Marc Robin

And you confident. very news. great Thank you sound awfully that much

test. sound China that confident more changed something you confident than and You the the the happen? passage that and changed going you're continued pressure? is of other far awfully time gives What's What's heparin like about just teams to

Ray Akers

there ready eyes NovaTek returned a been distributor written absolutely model Ray. been leaders at adopted have And vascular there the different with potential with they into hematologist the visit go the top not which this as Marc, country's to get hematology only that heparin, a I of our in the and to is guidelines. prescreening open take are do fact and where is as up China. key soon our about and another going hospitals. the level. potential get their just XX working test market they pricing who in will to they opinion market that’s and approvals But to top people love And surgeon from

the product. we -- lot we have along the log the a that pricing a we do anything transformational that's very impatient there’s once why of is rushing that logs downstream. whole So add in help I happens when confident, approvals you a lot product breaks, for and what sometimes to must But but can't are very speed jam are

very, we very remain So optimistic.

John Gormally

add… just think to I And

Marc Robin

to good. presidents you UCLA So that like need have JLL so from looks the bringing the players,

John Gormally

that, probably You could deny Marc.

Marc Robin

Yes.

how a On use in talked of don't what here I states. John, and obviously, should better of little to what to talk -- in Why about product orders little a understand maybe Trump other putting more that? hand, explain about can there's can you the or say. happen, you I the word, it a kind have the what hiatus good a

John Gormally

through and the in put waves price, we was one think Sure, walking then Xx job out increase we pricing the exceptional when capturing absolutely. growth, of I probably Well, first and back I in briefly them it XXX, calculator place. in organization, joined an value course that had you our customers remember to going of did and and put we three the the expressed XXX

of all once, took our not year that customers. the of but XX% Now pricing that over three years did, vast price majority them we it three about -- but increase at for amortized

about was the point-of-care reduce past is that cycle, the awareness, problem help growth. then this wave making you but care business, a capturing organic delivery the you of had an recently have share explosive continue the for the with growth X the which understood gravity profitable most focusing, test. community networks, longer health and into strategy platelet wave will. solutions if rapid we market cost to they as We get on So really manual that the we partners the And integrated you that network. three the Akers which that a get one to sure but moved of engaged who being two delivery strategy quickly IDNs, our of actually door once in their importantly I at this is with and chain We're partner, of stated done, high help opener strategic is get bio integrated a distribution supply and level distributor to used as factor was more really sales

to that Greater underway complement complement get the we that on the a as away work together that an five was, could the we Officer that the to once in part the walked rank three we were have study forced priorities and but rating of first one putting those Association. written Medical major formally have taken -- of which a this was recognized, action Akers and we pathway by accounts strategy, the customers clinical top the with of is all the GNYHA, plateau. is to with analysis of New priorities growth the pre-op an we the via takeaway causing did Now in And and Chief explosive is protocol what and up, the called engagement Acurity, we have through into York Hospital that currently we

candidly, doing again is factor engagement just just pharmacy surgeons. campaigns, to mentioned X selling not as today and but a We the product and big to with platelet awareness the difference I the laboratory, the are this the

profitable and that’s these So, and Pam hit proprietary you and And further strong of laboratory it the my you I going me with growth. confident has And are and have technology. well, and and takes who background It also is BEI plateau new addition not takes I’m our the belief time, an innovative then who a it was also just this to very going a so will plateau Hibler, see the that at unusual clear in remain Northeast as that get surgical representatives of bump also Medical. that experience then types again wave very then to when you case. off speed that’s be the jettison

Marc Robin

where the like in on that’s discussed have the It me bother the surgeons to you finally to of to hospital kind and you this you don't and have we the hey, do going have operatories I so thing I’m fits sounds plateaus some much are. have definitely Now say, attention. patient not anymore and previously, or this through conviction as

John Gormally

in help people opposed catapult at Yes, changing adoption skill in of and us by will the the center the surgeons the the our we at this discussions that arena are were have parameter that profile move now product past. they of the on of as rapidly

Marc Robin

Yes. good. I’m of a there That’s certain very Is -- surgery class where sorry.

Ben Simons

Sorry interrupt to you. Marc

onto chance mind, then Would to don’t questions Bio a asking in. then wanted to that could move people to people don’t and okay? get just finish you mind means your you questions some If I come if -- just and be other be back a couple ask

Marc Robin

come back the in go I’ll back queue. then. okay. That’s I’ll

Ben Simons

Marc. Thanks,

come Ashley in. let people some other

Operator

Terwilliger Absolutely, Investment James next Paulson from our we’ll take question Company. from

open. is line Your

James Terwilliger

a attack questions similar speaker. first they’re But and I’ve the I’ll to bit differently. in probably maybe got two little pretty So,

revenue It’s which your good XX%, up growth. revenue is was So, total double-digit number.

one number was product flat. a Your little

your means on had that So show. big products the products even the your believe other which but in fantastic is product, to really heparin steal other

John Gormally

Yes.

James Terwilliger

that stole to to had honest, me be just high about quarter? up and the other growth, what talk brutally a just I’ll the speed other this more on. were the they to I such So, of products bit need which really confidence How little from show a products some level get

John Gormally

But, It campaign out very, we health that is begin what line OxiChek measures our strong breath oxidative any second coming called was leap with generated candidly wellness was as up strategic there CVS one. Aid with or have the that test tri-cholesterol believe a a our what that Check look there, a are and is in are from network the and we the with over-the-counter partner product which Rite very would perspective we Check. our like that is as and which and trajectory start arena we’re is the marketing our that margin on product. new imagine expand First you and in stress that did catapult the principal adoption pains that start with First is of to the to results in And further experiencing POs we and

James Terwilliger

line, just were a making much the and health those wellness that? how businesses up top So from and

John Gormally

line that am the is And product the Q. looking be The through I MPC at you products. flipping would

James Terwilliger

that was my. Yes, so

John Gormally

I said think in we said total, was total XX%. around in we

Gary Rauch

XX%.

John Gormally

total breath for in entire XX% categories.

James Terwilliger

going there have selling is are is under type end. apples-to-apples also out we to to talked wants on? in I if happening it about like to be price I how any And integrated so there to I there should type you of delivery an make the you battle, price are into nobody don’t a uphill -- anything go of then Is out technically going know about anyone I'm win networks and if a Johnson, comparing are you should beginning I'm change the do churn maybe long -- because the cycle previously gaining if customers also at underestimate, you have about is increases plans but this price and figure XXXX there I heparin customers? some When a think, decrease. was trying yes, at so customer better, kinds change even Is to don’t or I back Is mean correctly any sales thinking surgery. increase? we losing when going I Johnson year. the Hospital you're

John Gormally

at benefit now done quite price against on as cost elasticity our we that We value we that point studies are internally our up and confident have where to churn and product -- oppose that Company is to churn in to some some truly the has attributed that offer. price reflects our place. feel a strategy that that the quickly There plateau this put the directly back we

consecutive that two get had That’s quarters see you do of We numbers. from side, shift the flatness. time any as leadership commercial to going in you the some plateauing the well. evident in are and You

this caller leadership benefits identified wonderful necessary managing team, taking making sequence entire so also together put enterprise as reviewed have all commercial we priorities you just we that candidly gave tool but by tool people help with and the steps which how sure eternal this on And top the the So we to it that USP have they're is it It are a an training in that us readability come down across point PIFA we that that the for and right some this you change the tools the responsibility help maternity or it five heparin-induced the a at quite in was they period transfer correctly. us on, there will I were wasn't have, and within that them. this will in enterprise developed reduction believe we to entire cool more requires leaves a people full-time the the and sales go will thrombocytopenia ambient for people if is will lab product and when is temperature, hick the the no test. out on tool help again doing tool up -- that help there equivalents comes requires sell it use that somebody if refrigerator,

James Terwilliger

-- thing you hospital difficult life back changing processes they I'll very queue jump so tool what on of are and important valuable. that last have themselves go I that’s can I I will a then would something front my the can as tell . sounds surgery and have in as go I and And apologize ask in on sale, behaviors even don’t So, the in me when

York, You in a with York GCA have New had New hospital? contract

John Gormally

Yes. Yes.

James Terwilliger

of rate hospital that there hospital. go would that’s in I kind tranche and do license, still of And because warfare coming win to that know penetration that you coming have What XXXX. in I you early it within we’re type so on within by you got you’ve think think license very group? have

John Gormally

Yes.

all this is So definitions. about

are group six Greater called two, New member XXX hospital product now now. accounts three, the right York five, it’s have right Acurity So using we six; that four, and one,

out account other that's using unit for them you The the are have currently all reference get using in strategy we got laboratories, funnel is us test volume be surgeons here, for the the we're we where farm accounts they're one another account, manual have of the that we is from this and to call successful Now to but we've today, in HIT sales and that have test. said it scripts handful what of it’s and the to claiming what order have process, of rapid it, cognizant really to to that are that every drive on and we're I it already -- the it's in other that you organically converted. really part think and by running reference embarking right then manual than for allies going to on surgeons in validation easiest we the evaluating stuck perspective think customer it victory a rapid our going reasons a growing influence have is a to surgeon that and available what flag

James Terwilliger

the to growth work, keep but its Okay. is I'm queue, good going Thank number. in good -- revenue you. up jump double-digit back

cycle takes Take of you. a for keep some just it hospitals, care, a XXXX to guys. good but long you. be Thank but mean it execute up, So year time sales will and I it’s

John Gormally

much. your so you Thank for comments. you Thank

Operator

question from Investor. next [ph] Private comes Irfan Shiffa from our a And

Unidentified Analyst

Hi, good morning.

know Chlamydia FDA regard data of just new I wanted is status second we sort in the one, what submitting number of have? So to question to stock And and do XXX,XXX test was Company's financial to requested what week the timeframe that don't and the the need low. concern just management. is hit yet this used health here, sound I to for was incentive XX close the stocks but the quarter There harsh about for

how time? So it justified in is point at this

John Gormally

Why don't we the Chlamydia take first? question

Dr. Ray Akers

Sure.

additional We requested. submitted the believe that we We that FDA comprehensively questions. have have the information answered all their of

have the We on data three of gone rounds FDA. questions and with

or product apprised can’t they're exactly shareholders when of be of our strength of we any test as that So they there will and in going questions, additional the to then our are prognosticate have. development we soon very, we And have. the this the keep significant approve very performance data as if will we confident

James Terwilliger

Okay.

Dr. Ray Akers

your please? Can questions, you repeat other

James Terwilliger

the but stocks other health, My concern about week incentive long-term question XX the this to lower Company’s is quarter for was there stock some was financial and hit close for a that, used the has XXX,XXX management.

So just this is in justified wondering at point this time? how

Gary Rauch

able the stock actually to members management issue We at we recently was the we’re these stock our Well, of rents to them XXXX result were performance. Shareholders incentive to until news which earned Meeting in were of that that particularly a plan days given passed restricted were those August. option your certain as own -- because not

in been these timing we January. have a had frankly the for have plan in issued quite would the option -- reason that’s place why stock So

these no earned were grants the grant is relationship real These the there timing So, between other ago. of ten months themselves. and

answer. that’s So, the really

Operator

Instructions] [Operator

Ben Simons

please Marc, the if still means. to by back want you’re and on line do in jump

Operator

[Operator Instructions]

Ben Simons

back Oh jumped Ashley. on, Marc questions more No hang in.

Operator

your Marc in. back line jumped is just Marc open.

Marc Robin

my I surgery heparin line test so one regroup John or to than there more Well, -- others is you. demand have it particular questioning, are one I require test there the of patient? is for just here. that surgery forgot Thank of procedures

John Gormally

ago the Bio Advisory England, a that Warhol, our those is I cheers gone Philadelphia, if Akers bio, his said Michael important question to is HIT low Dr. about orthopedic you phenomenal greatest clusters website, that surgeries, surgeries the there so York I to think months very hear That like or in has you of and segments Marc, are would eight or Board. Pathologist heparin-induced this surgeries. question and he New on cardiovascular need, in Scientific we for need a but definitely of things thrombocytopenia. he for everybody And, focusing very a this. proclivity that him then waiting C-section on. most was are test, and yes, up New see so ask have

last Now, a occurred pretty United the focused categories. States within on deliberate in plus the orthopedic our those and for has marketing hospitals access put if cardiovascular team X X,XXX and up on the together the added focus few that United they’re States And year, you in just surgeries of million surgeries.

is for $XX a capture. is at can still market us genuine robust a there that and average price see you sell an So, test, to

Marc Robin

number I a know then -- kind what target and you, you to begin didn’t and finite That’s really much does, it but to Thank with allows for spread. it of surgeons thought, I most sure. what of that’s finer,

John Gormally

absolutely. correct, That’s

Marc Robin

being are the through going chain. sold tests the to Then drug back

John Gormally

Yes.

Marc Robin

quarter sale sell some and start through? they well is they store or to Or were see as into last the beginning beginning marketplace? at in Do the it you’re still chain

John Gormally

Great most of this representation make to our just an facts. we sure on active wanted was the question. happened communication recently that and This

the and about so, themselves we that the to and Founder is who Accutest talk of And Richard customer our individual, Global Marketing, release, communications joint Head activity who coordinated our if is Ben release press of this Taylor President included an will. you

and was captured in of So XQ. none just that’s that’s that quarter initiatives a begun fourth

Operator

[Operator Instructions]

Ben Simons

conclude. John you to want I everyone, if that think was like so

John Gormally

and/or the next the call performance routine into and products quarter hopefully you And with Ben press we you Bio, thank with and before XXXX. that Yes, in end opportunity here need you portfolio to Akers not updates those excited very forward look but release only current a our to of with I'm very the Thank I the much. rise on will we basis.

Operator

you today's concludes your for conference. That Thank participation.

You disconnect. now may