ENDRA Life Sciences Inc. Q3 FY2022 earnings call

• Francois Michelon emphasized that collecting high-quality clinical data for TAEUS is the top priority for regulatory submission and commercialization, with ongoing marketing activities in Europe and US, and a strong balance sheet. - Michael Thornton discussed clinical progress: 95 study participant exams year-to-date, improved user guidance tools to enhance repeatability, and plans to complete data collection for US regulatory submission and expand clinical sites. - Renaud Maloberti mentioned attending AASLD, market trends for NAFLD including unmet need for non-invasive diagnostics, differentiation of TAEUS vs competitors, and flexible sales options in Europe (rental/lease in addition to direct purchase).

For the quarter ended September 30, 2022, operating expenses increased to $3.4 million from $2.7 million in the same period of 2021. Research and development expense increased by approximately $660,000 year-over-year due to ongoing product development. Sales and marketing expenses increased by approximately $140,000 as sales and marketing efforts expanded. General and administrative expenses decreased by approximately $35,000 due to lower payroll expenses. Net loss per share for the 2022 third quarter was $0.05, compared to $0.06 per share in the same period of 2021. As of September 30, 2022, cash and cash equivalents were $8 million.

• Primary focus on effective collection of clinical data for US regulatory submission and global commercialization. - Maintaining a steady marketing cadence with 11 clinical conferences attended in 2022 vs 8 in 2021, and a customer database of over 5,000 clinicians. - Strong balance sheet to support milestones like ramping up commercial activities in Europe and submitting de novo regulatory filing in the US.

• COVID restricted clinical site work, delaying milestones. - Developing new and game-changing technology poses challenges. - Macro factors like supply chain issues and interest rates, but clinical need for NAFLD remains large.

Q: Have you noticed any change in people being concerned about the macro environment?

A: Francois and Mike discussed growing optimism despite macro trends, with clinical need for NAFLD remaining large.

Q: Have you been able to develop learnings and experience so that the next 95 TAEUS scans would be significantly faster?

A: Mike talked about targeting 200 scans, depending on user comfort, MRI time, and subject recruitment, with guidance tools improving effectiveness