Dyadic International (DYAI) 11 Nov 222022 Q3 Earnings call transcript

Good evening and welcome to Dyadic International’s Third Quarter Fiscal 2022 Financial Results Conference Call. Currently, all participants are in a listen-only mode.

Following management’s prepared remarks, there will be a brief question-and-answer session.

As a reminder, this conference is being recorded today, November 10, 2022. I'd now like to turn the call over to Ms. Financial Chief Dyadic’s Rawson, Officer. Ping ma'am. Please go ahead,

announcing to Thank quarter third have XX, opportunity press XXXX everyone ended recent the I you. evening and had release Dyadic's review highlights. Good and Dyadic to results fiscal September you for quarter International's hope welcome financial company XXXX the call. conference

review our of website at a dyadic.com. You may Form our and will company's release of CEO, XX-Q under Emalfarb today's our development XXXX the corporate call, President and quarter access our the and Mark efforts. Investors brief the business business section including highlights, third On research summary give and of a

financial Officer, our to statements. or expressed or forward-looking future information from achievements different disclaims filed to forward-looking Dyadic whether the to It updates those expressly call that I result could inform detail. to is any which these We'll forward-looking results the by made otherwise, Joe Business I that of Q&A SEC. new factors and join you will this events its or then implied pleasure like Mark otherwise. business risks performance, hold Chief results be considered in pass duty a Participants statements provide involves a are will materially certain would be Mark call statements, or as directed scientific At a update. the conference with to with forth Dyadic's brief cause this time, for our actual commentary in now the Dyadic's Our other risk follow Emalfarb. factors reports set session. more may to and Mark? Hazelton my of to in uncertainties review CEO,

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Thank you, Joe.

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Mark. you, Thank

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Thank you, Mark.

was find increased In Research $XXX,XXX for license be now, the addition $X,XXX,XXX $XXX,XXX for $XXX,XXX to of same revenue approximately development and period third additional compared the $XXX,XXX for to $X,XXX,XXX to XX-Q, today. for a compared earlier filed decreased expenses third research for in the to DYAI-XXX Form quarter quarter revenue manage to the toward period a as development support and to activities $X,XXX,XXX can expenses the discussing its and our ago. clinical information decreased the was revenue financial anticipated $X.XX candidates. year the for approximately Phase ended moves to organization which and for period and the in expenses per quarter same the XX, Net same period as the ended you comparing for development X nine manufacturing for months research to to we approximately for the year ago. XXXX year for quarter ago. $X,XXX,XXX the preclinical a to third results vaccine approximately XXXX increased Net $X,XXX,XXX for I’ll ago. September period year ago. nine was ago. nine compared period compared approximately to for for year $X,XXX,XXX $X,XXX,XXX compared Research expenses XXXX XXXX ago. or year of September year year increased G&A same and approximately due same license costs COVID-XX approximately year winding and to company well Research Cost period and research a same Cost share $X,XXX,XXX and for XXXX $X,XXX,XXX months per share approximately $X,XXX,XXX period decrease approximately to nine and booster months a loss or ended ago. of of share revenue for same consultants to and the XX, the the the year a the to a development the ago. for the period $XXX,XXX $X.XX same $X,XXX,XXX G&A XX, contract of revenue to third decrease share compared the development loss comparing months for the to $X.XX quarter same development a $X,XXX,XXX $X,XXX,XXX revenue research the ago. ended as $X,XXX,XXX clinical decreased of RBD a or pharmaceutical to expenses XX, development or to period CGMP $X.XX September compared to for nine compared in regulatory September September the and XXXX same it’s to a ended decreased a third development trial down XX, $X,XXX,XXX approximately per months and The for the the per Research quality decreased

that existing company’s all session. current time that, questions will operator question cash reiterate will of $XX December this comparing those as XX, one the Our who a million Based dollars our September to lower grade will to caller securities $XX to provide be already from U.S. tearing of spoken. DYAI-XXX March an cash, the will We million investment one dollars U.S. permits, value the to including be range our callers year. XX, were grade on cash that than equivalents XXXX. original and follow-up opportunity for and be of much plans, of Q&A allow XXXX, investment securities sufficient announced additional participate. to have and our question allowed our X Each If operating begin the accrued Phase cash was interest approximately I $XX.X equivalent our into operator expenses estimated in to fund burn million expectations ask XXXX and trials cash, on will XXXX. clinical million $XX.X our now With

from The SCR. Thank first proceed you. question, question with Please your [Operator John. comes Zacks John Vandermosten Instructions] from

Mark, chance heard even scientific does How or out the me with you’re you happened. recently when Hello, you of favorable then the be going Let doing? that several with attended And I are trends in Ping, on talk or what think of also CX? you might a unfavorable? Mark, are When be in those. Joe. the conferences a question some it might who guys individuals interested those, industry start that you’re companies maybe have potential to that you’ve there give to

of second development big Yes, pharma agreements. half would numerous companies, further say we answer to the the scientists, on your XX I’ve question, the level top open which CX license the like significant collaborations I been work companies is different levels of so many and divisions one between of with including key in to is pharmaceutical pharma and getting people platform are doors the has in to recombinant elevated to the and obviously met think I with easiest to that And interest business that vaccine Janssen. big fronts several

but go extreme interest. with five more that to recent into details of currently working vaccine but discussions top confidentiality, XX had side, also on. at has side I’m because least We’re for the of get on going can out the I companies pharmaceutical have therapeutic some At the conferences. those expressed and

in clear affordability having in world trends, terms been access In of terms it’s in crystal health turmoil that of the and the isn’t equity.

but outside to but plays kinds recognize you in arthritis, west affluent can I people of and rheumatoid actually diseases. for in just world real starting countries other of treatments that whether there’s and Now, the are realize COVID-XX, vaccines, for not that only diabetes, cancer, tell a out not need that more all but over for the for time,

conferences. within important more scientific collaborations, these the and think getting to companies are in quite higher much higher to these relationships, to I on us developing going putting and us that in levels and for deals long-term strategic done So investor conferences frankly

be me Right, to might next to okay. areas leads of of one interest of is the And yours. my that which that question, kind

I if you’ve successfully. treat on something that antibody monoclonal mean know fairly pursue? I if that try the be the But malaria might in. that that work and might some like work that in relationships particular did you with be I’m similar not. in owns mab, I could that that this of interested Would the Does on think NIH see but it to who or something don’t would your is something Africa malaria we’d out? seen sure like you seems or just you not jump something Africa, prevalence to sound came up? in to that that that

the The COVID-XX. name individual scientist, certainly it. who’s we it? to Consortium think reached that you’re talking RUBIC about. so Seder in would was interested But going jump to there is, fund from Bob I I’ve out just not on Well, And paper his is is issue that question the already

their fact, not And types HIV both animal is for interest well including main as alone. others. vaccines malaria antibodies, varieties and humans, they’re other of In in as and in

right, Exactly. well, right. you, Right, that. Mark. Appreciate All thank

you. Thank

comes question is from next Please Lewis. proceed with Titterton The Investor. Lewis Instructions] your Private who from a [Operator question,

good Hi, a absolutely Mark. the all you. down one, that’s simple burn It have Congratulations things, Thank a terrific. pretty on gives your on Congratulations revenues up number your runway. you doing. of a you’re scientific and getting work question. much number getting longer I

give that You’ve look us talked on a on we at? so what’s It’s color results about can see about that you J&J going a we Janssen collaboration. you year I been some expect roughly timing a could Can and we announced when stuff can of more there? little the and this since year, think,

the which as so working started talking with Yes, intimate as think months since on on well. nine that about I I Janssen we've something project and we're the it's vaccine not side, actual about Janssen else therapeutic been side, it we're the

projects the Janssen figure the are figures the reached. in outlined with these our per product made these so together seven well significantly payments is multiple eventual project the proteins including the of if from of advancing of all improved towards each we've projections working the the product far potential nine agreement the volumes progress yield in in purely, milestones Dyadic this So perspective, and science R&D teams reaching milestones, the are Janssen, so and of

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actually conferences, we Janssen, certainly them Vandermosten talking very John these the BPI So business We about guide, met was may their they're sides so us of in with, deal all more at the scientific their with even East watching them made business we to is relationship things They're actually different faster. it. that of over surprise do met strong we on they're as expanding development and with a side. hopefully with all becoming have

pay them, Thank they're we're on, I correctly, for $X going the you remember Do XX things each to There us us would Where next they’re that start that $X million each on two if you, to that's within going million very one. appreciate it. pay months one. working upfront useful. I were seeing think we'll sit?

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figure the the a project honestly in, an don't R&D sales or technology figures a XXX,XXX that Yes, to we cash end for and for And gave you They're figure on on additional the then mid another up for to seven target bringing timeline, going they transfer. to revenue. can't let's up million they in few But we And and goals of then I expect proteins. remember, a transfer, produced. is with certain the going we'd seven achieve mean upfront. single-digit the over your to doing different course give of first technology then nine exercise on for an technology backend, mid payments time then technology funding figure the products productivity option, but us about, projected in seven if timeline non-exclusive you receive a talk point $X.X

the talking that to recombinant recombinant both potentially it opportunity on vaccine the, into say side just incredible hands adopt opportunities that expect even they we're – and their the in protein of and side. sides let's more We and on hopefully be protein addition more it this here, about business and the they'll in, leveraged can both bring within

it. I you very much. Okay. appreciate Thank

you. Thank problem. No

further Thank no questions. to There remarks. closing you, are Emalfarb you. for over Dyadic’s I'll Mr. now Thank turn CEO, call sir. the

which scientific proud response in achievements Phase clinical We significantly, CX globe. and efficiency life and to not improve and improving for of regulatory XXXX. has on advancements received therapeutics a are developed Most and platform to safety access only in for X antibody demonstrate the pharmaceutical turn benefit and in the trial industry, human will also the to initiate Dyadic shareholders, the but approval our will clinical industry of CX patients the for the recombinant of in COVID-XX of in will populations in help addition Dyadic, DYAI-XXX CX use produced emerging the accelerate adoption across protein candidate. advances this to focused within continued believe value RBD We the We're value safety productivity, protein humans the protein vaccine to booster production the vaccines science affordable platform, improve data to quality from for the for first-in-human nations.

and and of global prepared our us fuel and you reorganization improve exploiting initiatives Our as as for mission And you Thank feed, order we we the across on XXXX infrastructure company our forward keeping enable our existing updated commercialization strategy Dyadic opportunities scientific to us new to in companies and today's we to conference the commercial and collaborators focus has for our advance call. to the programs. fulfill world. joining way once a biotechnology heal again QX look

out periodic updates. forward call seeing hope the look I and on keep you also our to We next you for an eye

This this presentation Thank very you now you may conference has time. you concluded. much, sir. at and your attending now disconnect today's Thank lines for