Earnings Labs

Capricor Therapeutics, Inc. (CAPR)

Q2 2015 Earnings Call· Thu, Aug 13, 2015

$34.07

-2.95%

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Same-Day

-2.60%

1 Week

-8.75%

1 Month

-4.73%

vs S&P

+0.16%

Transcript

Operator

Operator

Good afternoon, and welcome to the Capricor Therapeutics 2015 second quarter conference call. [Operator Instructions] As a reminder, this presentation contains forward-looking statements and information that are based on the beliefs of the management of Capricor Therapeutics Inc. as well as the assumptions made by and information currently available to Capricor. All statements other than statements of historical fact included in this presentation are forward-looking statements, including but not limited to statements identified by the words anticipates, believes, estimates, and expects and similar expressions. Such forward-looking statements also include any expectation of or dates for commencement of the clinical trials, IND filings, similar plans or projections of other matters that do not relate strictly to historical facts. These statements reflect Capricor's current views with respect to future events, based on what we believe are reasonable assumptions; however, the statements are subject to a number of risks, uncertainties and assumptions. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements. More information about these and other risks that may impact our business are set forth in our Annual Report on Form 10-K for the year ended December 31, 2014, as filed with the Securities and Exchange Commission on March 16, 2015, in our Registration Statement on Form S-1, as filed with the Securities and Exchange commission on March 06, 2015, and in our Form 10-Q for the quarter ended March 31, 2015, as filed with the Securities and Exchange Commission on May 12, 2015. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those in the forward-looking statements. Further, Capricor's management does not intend to update these forward-looking statements and information after the date…

AJ Bergmann

Analyst

Thank you, Linda. This afternoon's press release provided details for the second quarter of 2015. The press release is available on the company's website. For the second quarter of 2015, the company reported a net loss of approximately $3.1 million or $0.19 per share compared to a net loss of approximately $1.5 million or $0.13 per share for the same period in the prior year. Research and development expenses increased to approximately $3.4 million in the quarter ended June 30, 2015, compared to approximately $1.9 million for the same period in the prior year. The increase was primarily due to increased clinical expenses relating to our products, including the DYNAMIC and Cenderitide trials as well as the ongoing ALLSTAR Phase II clinical trial. General and administrative expenses increased to approximately $900,000 in the quarter ended June 30, 2015, compared to approximately $700,000 million for the same period in the prior year. The increase was primarily due to increases in compensation expenses related to increased headcount and non-cash stock-based compensation cost. At quarter end, we had over $20 million in cash and marketable securities available. In addition, there is approximately $11 million that is yet to be disbursed to us under the terms of our CIRM loan award, which will be attributable to expenses incurred in the ongoing Phase II ALLSTAR's trial. We believe this cash will be sufficient to take us to the fall of 2016. And with that, I will turn it back over to Linda. Linda Marbán: Thank you, AJ. I want to thank everyone for being part of today's call, and also apologize for the ambient construction noise that inadvertently occurred outside of our office just in time for this call, but I hope that you were all able to hear, despite the sound of the trucks moving on around outside. With that in mind, and with my most sincere interest, I will open the line for questions.

Operator

Operator

[Operator Instructions] And there appear to be no questions at this time. I'd like to turn the floor back to Linda Marbán for closing comments. End of Q&A Linda Marbán: Well, noting that there were no questions, I'm guessing that that means that everybody enjoyed the presentation this afternoon. And feel free to follow-up with me individually, if you have any questions as you review the information presented or any of the other information regarding the company. And with that, I'll say, thank you for joining and looking forward to talking to you next quarter.

Operator

Operator

This concludes our teleconference. You may disconnect your lines at this time. Thank you for your participation.