Valion Bio, Inc. Q1 FY2024 earnings call

• ClearUp generated $334,000 in Q1 2024 revenue.
• Executed a limited exclusive distribution agreement with McKesson for ClearUp to major retail outlets.
• Launched a new version of ClearUp addressing a chip technical issue.
• Began leveraging noninvasive bioelectronics into higher value diseases 2 years ago.
• Announced successful pilot clinical study on noninvasive vagus nerve stimulation with Feinstein Institute.
• Clinical study showed significant changes in cardiac, neurologic, and autonomic functions via noninvasive vagus nerve stimulation.
• Closed a $4 million financing round to utilize as working capital for VNS program next phase.

The company has one FDA-approved product, ClearUp, used for treating sinus pain and congestion. Last year, ClearUp generated over $1 million in revenue, and in Q1 2024, it was $334,000. Direct sales represent the largest share of revenue for ClearUp.

• Intend to invest in furthering the VNS program.
• Evaluate business combinations, licensing opportunities, and other strategic transactions.
• Focus on fiscal responsibility, decreasing expenses, and optimizing operations.

• Forward-looking statements are subject to significant risks and uncertainties.
• Market conditions may not be conducive to closing and managing strategic opportunities.
• Uncertainties in clinical trial outcomes and their impact on the business.