USBC, Inc. Q4 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

  • CEO Transition: Ron Erickson appointed as CEO in January while serving as Chairman. Several new executives and board members added with expertise in R&D, regulatory affairs, and commercialization.
  • Product Development Milestones:
    • Generation 1 device revealed in June 2023 – a portable data collection tool; not intended for FDA submission.
    • Generation 2 prototype (wearable CGM) under development; expected to be 50% smaller and presented to the FDA.
  • Clinical Trials & Data Collection:
    • Nearly 500 glucose data sets collected (approx. 3 billion data points).
    • Trials involving up to 100 participants underway with focus on diabetic/pre-diabetic populations.
    • Achieved a MARD improvement from 20.6% to 11.3%; goal is MARD < 10% for FDA submission.
  • Scientific Contributions:
    • Five peer-reviewed manuscripts published, two posters presented at medical conferences.
    • Results to be presented at ATTD 2024 conference in Florence, Italy.

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Operator: Greetings. Welcome to the Know Labs Fourth Quarter Fiscal Year 2023 Earnings Conference Call. Please note, this conference call is being recorded. I will now turn the conference over to Jordyn Hujar, Know Labs' Chief of Staff. You may begin. Jordyn Hujar: Thank you. Thank you, everyone, for joining us for today's conference call to review Know Labs fourth quarter and year end 2023 financial results and operating highlights. If you have not seen today's financial results, press release and 10-K filings, please visit the Investors page on the company's website at www.knowlabs.co. Before turning the call over to Ron Erickson, Know Labs' Chairman and Chief Executive Officer, I would like to remind you that during this conference call, the company will make projections and forward-looking statements regarding future events. Any statements that are not historical facts are forward-looking statements. We encourage you to review the company's SEC filings, including, without limitation, the company's Forms 10-K and 10-Qs, which identify specific risk factors that may cause actual results or events to differ materially from those described in these forward-looking statements. These factors may include, without limitation, risks inherent in the development and/or commercialization of potential diagnostic products, uncertainty in the results of clinical trials or regulatory approvals, the need to obtain third-party reimbursement for patients' use of any diagnostic products the

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