Aspira Women’s Health Inc. (NASDAQ:AWH) Q3 2023 Earnings Call Transcript

Nicole Sandford: Hi, Dustin.

Unidentified Participant : First on EndoCheck, good to hear. Yes. Hi. How are you? On EndoCheck good to hear progress going on there, just wondering what the update timeline is for the launch. I think you said previously the fourth quarter. And then when that’s launched, just what metrics are you guys going to use to see that this launch, has been success full and what kind of goals are you laying out for yourselves there?

Nicole Sandford: Sure. So, we’re not changing any of the timeline today. Our goal has been and continues to be, the launch of a test, for commercial use by the end of the year. We’re still focused on that provided we’re able to fully validate the test and have a roll out similar to what we did for OvaWatch, where we had a period of time where OvaWatch was primarily being offered to physicians who were familiar with the development of the technology, we’re planning on doing the same thing. That’s really been the playbook we planned on following with a much broader commercial launch of the first generation test in the first quarter of next year.

Unidentified Participant : Understood. And then on the OvaCheck, great to see you guys got the proposed rule there with CMS. How confident are you guys and that being finalized? And then how would that actually influence the longitudinal monitoring product if at all in terms of pricing there?

Nicole Sandford: Yes. So, we don’t expect there to be any impact on longitudinal monitoring. We believe that the tests will be reimbursed at the same level. The likelihood that the test or that the crosswalk that was preliminarily approved, becomes final, I would rate it at high. However, CMS ultimately has the holds the pen. The comment period is behind us. We submitted a comment. We were very, very confident in the case we put forward for the crosswalk. I mean, there’s, almost every factor that they look at for a crosswalk request was in our favor. In terms of, the process, the platform, the analyze, if you name it. So, the case was as strong as it could possibly be, we did submit a comment letter and, the final is expected in the next several weeks.

Unidentified Participant : Understood. Thank you. And then maybe looking out to ‘24, just any high level thoughts on volumes and ASP growth. I know you’re going to have a couple new test launching, at different price points, but anything high level you can give us there and how that compares to the third quarter results?

Nicole Sandford: Yes. We’re not really in a position to give any 2024 guidance at this point, Dustin, but, thanks for trying.

Unidentified Participant : Yes. How do I give it a shot. And, yes, just one more. Spending in burn, any color on how you guys are thinking about runway? And obviously, a lot’s been done across the organization to help extend that, but just how are you how are you thinking about that? Thank you.

Torsten Hombeck: Yes. This is Torsten. So, in terms of runway, we have reiterated our cash guidance, cash burn guidance, to use cash and operations in the second half of this year, to be between $6 million and $8 million. We have cash in the bank as of September 30, of a total of $5.4 million that includes cash and restricted cash. And, our cash burn for the third quarter was $3.3 million after $3.4 million in the second quarter and $5.7 million in the first quarter. So, what you can see is that we continue to be very focused on controlling our cash burn, bringing that further down going forward, on a quarter-to-quarter basis, and there’s any other biotech company definitely double biotech company. We’re constantly looking into dilutive and non-dilutive ways funding mechanisms to fund the company going forward.