CohBar, Inc. (NASDAQ:CWBR) Q3 2019 Earnings Conference Call - Final Transcript

Nov 06, 2019 • 05:00 pm ET


CohBar, Inc. (NASDAQ:CWBR) Q3 2019 Earnings Conference Call - Final Transcript


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Good afternoon. My name is Latonya, and I will be your conference operator today. At this time, I would like to welcome everyone to CohBar's Third Quarter 2019 Financial Results Conference Call. [Operator Instructions]

Now I'd like to turn the conference over to your host today, Glen Garmont of LifeSci Advisors. Please go ahead, sir.

Glenn Garmont

Thank you, Latonya, and thank you, everyone, for joining CohBar's Third Quarter 2019 Financial Results Conference Call. Joining me on today's call is Steve Engle, Chief Executive Officer, Ken Cundy, Chief Scientific Officer, and Jeff Biunno, Chief Financial Officer. CohBar's financial results press release was issued earlier today and may be downloaded from the website, If you're having issues joining the Webex, you can access the slide presentation from CohBar's homepage. Jeff will begin with an overview of the third quarter financial results, followed by a business and R&D update from Steve and Ken. Before we begin, I'd like to take a moment to remind listeners that the remarks on today's conference call may include forward-looking statements within the meaning of securities laws. These forward-looking statements include, but are not limited to, statements regarding the company's plans and expectations for its lead CB4211 drug candidate program, the therapeutic and commercial potential of CB4211 and other mitochondria-based therapeutics. Statements regarding ongoing and planned research and development activities, potential partnerships and capital resources and ability to fund operations. Forward-looking statements are based on current expectations, projections and interpretations that involve a number of risks and uncertainties. That could cause actual results to differ materially from those anticipated by CohBar. These risks and uncertainties are described in our registration statements, reports and other filings with the Securities and Exchange Commission and applicable Canadian securities regulators, which are available on the website,, and as well as in the safe harbor statement included with today's press release.

You are cautioned that such statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. CohBar does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise. With that, I'd like to turn the call over to Jeff Biunno, CohBar's Chief Financial Officer. Jeff? Thank you, Glenn, and thank you, everyone, for joining us this afternoon. I will now provide you with a summary of our financial results for the third quarter ended September 30, 2019, compared to the third quarter ended September 30, 2018. Total operating expenses in Q3 2019 were $3,228 million as compared to $4,498 million in Q3 2018, a decrease of approximately $1,270 million. Operating expenses included noncash expenses of $621,000 for the quarter ended September 30, 2019 and $1,633 million for the quarter ended September 30, 2018.

Jeffrey F. Biunno

Noncash operating expenses include stock-based compensation and depreciation and amortization costs. Research and development expenses were $1,944 million in Q3 2019 compared to $3,436 million in the prior year period,