Plus Therapeutics Inc. (NASDAQ:PSTV) Q1 2020 Earnings Conference Call - Preliminary Transcript

May 14, 2020 • 05:00 pm ET


Plus Therapeutics Inc. (NASDAQ:PSTV) Q1 2020 Earnings Conference Call - Preliminary Transcript


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Good afternoon, ladies and gentlemen. Welcome to the Plus Therapeutics First Quarter 2020 Earnings Results Call. At this time, all participants have been placed in a listen-only mode, and the floor will be open for questions following the presentation. [Operator Instructions].

Before we begin, we want to advise you that over the course of the call and question-and-answer session, forward-looking statements will be made regarding events, trends, business prospects and financial performance, which may affect Plus Therapeutics' future operating results and financial position. All such statements are subject to risks and uncertainties, including the risks and uncertainties described in the Risk Factors section, included in the Plus Therapeutics' annual results on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission from time-to-time.

Plus Therapeutics advises you to review these risk factors in considering such statements. Plus Therapeutics assumes no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made. It is now my pleasure to turn the call over to Dr. Marc Hedrick, Plus Therapeutics' President and Chief Executive Officer. Sir, you may begin.

Marc Hedrick

Good afternoon. Thank you, Christina. And welcome to our Q1 fiscal year 2020 earnings call. As Christina said I'm Marc Hedrick, President and CEO of Plus Therapeutics.

And joining me is our Chief Financial Officer, Mr. Andrew Sims. Once again, on behalf of all of us on the Plus Therapeutics team, we are hoping that you and your families are maintaining the best possible health as this pandemic drags on. Today I am very pleased to report results from the first quarter of fiscal year 2020. Before I get to our Q1 update and results, I would like to update you on the COVID-19 situation as it applies to Plus.

Our 2019 strategic decision to implement a substantially virtual operating model is serving us well during the pandemic. Our facilities in Austin and San Antonio have remained open, but lightly staffed with flexible work schedules to provide maximum support for our employees. Coincident with Texas Governor Abbott's executive order effective on April 30, 2020 Plus has implemented a Phase 1 reopening plan intended to put the company on a trajectory to return the business to full operational mode as soon as possible. All federal and state recommended steps intended to protect the health of employees while moving towards full operational mode have been implemented.

Over the past two to three months no significant supply chain interruptions have occurred, and we remain in close coordination with our partners, vendors to ensure the situation does not change. At this point, none of our employees have tested positive and we currently expect no material impact on results for fiscal year 2020 which ends December 31, 2020. We continue to screen patients for our ongoing clinical trial and we are starting to see some Shifts away from COVID precautions to more routine hospital operations. We also continue to make progress in our efforts to add