Cesca Therapeutics Inc. (NASDAQ:KOOL) Q2 2019 Earnings Conference Call Transcript
Aug 13, 2019 • 04:30 pm ET
Good day and welcome to the Cesca Therapeutics Conference Call and Webcast to Review Financial and Operating Results for the Second Quarter ended June 30th, 2019. As a reminder, all participants will be in listen-only mode. There will be an opportunity to ask questions at the end of today's presentation. [Operator Instructions] As a reminder, this conference call is being recorded.
I would now like to turn the conference over to our host, Paula Schwartz of Rx Communications. Please go ahead.
Thank you, operator. This conference call contains forward-looking statements within the meaning of the federal securities laws. The company's actual results may differ materially from those projected in the forward-looking statements. Additional information concerning factors that might cause actual results to differ materially from those in the forward-looking statements is contained in the company's periodic reports filed with the Securities and Exchange Commission.
The information presented today is time sensitive and is accurate only as of the date of this call, August 13, 2019. If any portion of this call is being rebroadcast, retransmitted or redistributed at a later date, Cesca will not be reviewing or updating this material. Participating on today's call are Dr. Chris Xu, Chief Executive Officer; and Jeff Cauble, Vice President of Finance and Principal Accounting Officer.
I'd now like to turn the call over to Chris. Please go ahead, Chris.
Thank you, Paula, and thank you to everyone for joining the call this afternoon. We appreciate you taking the time to listening. As most of you are aware, one of our key performance objective for 2019 is to achieve positive cash flow from operations before the end of the year. This is a very important milestone for us, because it would represent the first time that Cesca has been operational cash flow positive in its over 10 years. Although it is a challenge goal, we have planned to execute on it through a series of product launches, which increase our revenue, accompanied by aggressive management structure change and cost reductions to decrease expenditures.
I'm pleased to report that since we implemented these measures, we have continued to see significant progresses through the end of the second quarter of this year both due to the cost reduction as well as from steady increased revenues from our existing and newly launched cellular processing product lines in our device division.
Just a reminder that Cesca currently has two business divisions. The device division is focused around development and commercialization of cutting-edge automated technologies for cellular processing, especially aimed at addressing the significant unmet manufacturing needs of the emerging chimeric antigen receptor T-cells or the CAR-T cell immunotherapy market. And the clinical division, which is focused on the research and development of autologous stem cell-based therapies for critical limb ischemia and other recent [Phonetic] medicine applications.
In January of 2019, we completed the acquisition of the remaining 20% ownership of our device division, ThermoGenesis Corp., making it a wholly-owned subsidiary of Cesca. Our short-term priority is focused on growing