Release Date: April 29, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Last quarter, you mentioned a goal of signing at least one tau-related partnership in the first half of 2025. Could you provide an update on these discussions and whether you remain on track to announce a partnership soon? A: Sujal Patel, CEO, responded that discussions with potential partners are progressing well, with ongoing conversations in both the pharma and nonprofit/academic sectors. They expect to sign an initial partnership in the first half of the year, likely with a nonprofit or academic entity first, as pharma partnerships may take longer due to the novelty of the capabilities.
Q: With recent tariff announcements by the US administration, can you discuss your supply chain exposure, particularly in China, and any plans to source more manufacturing locally? A: Anna Mowry, CFO, stated that they are closely monitoring the situation but have not yet seen any impact on their ability to source materials or changes in prices. They source from various locations, including the US, and have the flexibility to adjust sourcing as needed to meet spending targets.
Q: What are the economics of the targeted proteoform partnerships, and should we expect any associated revenues or costs? A: Sujal Patel explained that they are exploring a range of business models, from running panels as a service to joint development with partners. Currently, the focus is on demonstrating the technology's capabilities rather than generating revenue, with each engagement considered on a case-by-case basis.
Q: Could you elaborate on the new developments in labeling approaches and key development targets for the next several quarters? A: Parag Mallick, Chief Scientist, mentioned that they are updating the platform configuration to better match probe characteristics, with progress on track. Key targets include expanding decoding to more complex samples and ultimately full lysates, with changes limited to consumables.
Q: What milestones remain for converting partnership interests, and what factors are causing potential partners to remain on the sidelines? A: Sujal Patel outlined that initial engagements focus on educating partners about the assay's capabilities and aligning research interests. While excitement is high, the pace varies, especially in pharma, due to external market conditions and internal priorities. They are prioritizing partnerships that can best demonstrate the technology's power.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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