Caladrius Biosciences, Inc. (NASDAQ:CLBS) Q1 2020 Earnings Conference Call - Final Transcript

May 07, 2020 • 04:30 pm ET


Caladrius Biosciences, Inc. (NASDAQ:CLBS) Q1 2020 Earnings Conference Call - Final Transcript


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Hello, and welcome to the Caladrius Biosciences First Quarter 2020 Financial Results and Business Update Conference Call.

[Operator Instructions]

As a reminder, this call is being recorded today, Thursday, May 7, 2020.

I will now turn the call over to John Menditto, Vice President of Investor Relations and Corporate Communications at Caladrius. Please go ahead, sir.

John Menditto

Good afternoon, and thank you all for participating in today's call.

Joining me today from our management team are Dr. David Mazzo, President and Chief Executive Officer, Dr. Douglas Losordo, Chief Medical Officer, and Joseph Talamo, Chief Financial Officer.

Earlier today, we issued a press release announcing our 2020 first quarter financial results. If you have not received this news release or if you would like to be added to the company's e-mail distribution list, please e-mail me at

Before we begin, I will remind you that comments made by management during this conference call will contain forward-looking statements that involve risks and uncertainties regarding the operations and future results of Caladrius. I encourage you to review the company's filings with the Securities and Exchange Commission, including without limitation its Forms 10-K, 10-Q and 8-K, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.

Furthermore, the content of this conference call contains time-sensitive information that is accurate only as of the date of this live broadcast, Thursday, May 7, 2020. Caladrius Biosciences undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this conference call.

With that said, I will now turn the call over to Dr. Mazzo. Dave?

David J. Mazzo

Thank you, John, and good afternoon, everyone, and thank you for joining us on today's call.

As with many things during the COVID-19 pandemic, the organization of our quarterly call has been adjusted to accommodate to work remotely and practice social distancing rules.

For the first time, the Caladrius participants to this call are not in a common location using a common phone line. We sincerely hope that there will be no technical issues, but ask for your indulgence in advance if there are any. Also, in recognition of these unprecedented times, I'll start by wishing you, your families and all your loved ones and friends the best possible health now and in the future. Please stay patient and safe as you conduct your daily activities, and we join you in looking forward to returning to a sense of normalcy in the hopefully not-too-distant future.

And now to our business. Today, I am pleased to provide a business update on our CD34+ cell technology-based clinical development programs, especially our newest program, CLBS119 for the treatment and repair of COVID-19-induced lung damage. In that regard, I've asked Dr. Doug Losordo, our Chief Medical Officer, to join us to provide some more specifics on the rationale for the program and why we believe this will be a much-needed treatment for patients who survived COVID-19. I will then