The following is a summary of the Biora Therapeutics, Inc. (BIOR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Biora Therapeutics reported operating expenses of $40.5 million, mainly due to investment in device development, preclinical, and clinical activities.

• G&A expenses were $8.1 million, almost 40% of which were associated with legacy matters.

• The company's net loss for Q1 2024 was $4.2 million, including noncash stock-based compensation expense and gain from a change in warrant liabilities.

• Biora's operating cash burn for the quarter came to $11.5 million.

Business Progress:

• Biora Therapeutics has made significant progress in its clinical development plans for the NaviCap platform, as demonstrated by successful performance and full colonic coverage.

• The company has completed dosing in a clinical trial for the drug BT-600 and aims to share data in Q2 2024.

• The planned initiation of a clinical study for BT-600 in patients with Ulcerative Colitis is expected to begin during the second half of 2024.

• The BioJet platform has exceeded its performance targets and demonstrated advances in consistency and bioavailability for the semaglutide peptide candidate and the adalimumab antibody candidate.

• There is significant interest in collaborations relating to the BioJet platform, and there are ongoing discussions about such collaborations.

More details: Biora Therapeutics IR

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