Phillip Frost: The relationship is in a very early stage and so far we’re cooperating with the idea that we will be partners in it, but we haven’t defined in financial terms exactly what that means.
Maury Raycroft: Got it. Understood. I know there are a couple of studies ongoing with LeaderMed too and wanted to just check on those, if there is any perspective or status update on those studies you can provide?
Phillip Frost: Those are supposed to start in the next quarter.
Maury Raycroft: Okay.
Phillip Frost: Both for the — for the Factor VII in the second quarter and for the other in the first quarter 2024.
Maury Raycroft: Got it. Okay. And maybe last question related to BioReference. You provided some good perspective on the new products and market segments and talked about the expanded customer base and you aim to get to your profitability in the next few quarters, what specific goals either on the revenue or expense side, are you aiming to achieve the next few quarters that we should be focused on?
Phillip Frost: On the revenue side — you know, the one thing that we want to increase is the volume that goes through our infrastructure so that, you know, breaking even means having enough volume to have an optimal profile. So that’s — and we have a plan to increase the daily, what we call, accessions by a minimum of 2,000 and reaching 4,000, 5,000, which will bring us to break even maybe like territory above zero. So that’s the quantitative objective. In terms of the qualitative, we will be announcing all the new customers we’ve signed, particularly in oncology, in the next few days, few weeks, and that really brings a different aspect because it changes the revenue per accession and that’s what we’re aiming for, already reached a better number in the third quarter than we did in the second quarter and hopefully that will be the next parameters that we will track as the revenue per accession.
And then, when you include high value tests like the oncology tests and the specialty tests, that number should go up and come to our cost numbers. We will continue to bring our cost per test down as well. So this is the three pillars, if you will, and the fourth one, which has been doing well is the — trying to capture more revenue to a revenue cycle management, which really didn’t exist before because, you know, the problem of denials and pre-authorization is not as large maybe, but we’ve made a lot progress in reducing denials and unbillables and that continues to advance quarter-to-quarter. So quantitative volume increased, qualitative in terms of the product mix and then better revenue capture.
Maury Raycroft: Okay.
Adam Logal: Yeah, I think along those lines, you know, Elias did a good job of capturing those, the sequential improvement in operating results are really the main measure for us. I think all of the revenue capture and revenue growth is going to result in better operating margins and we plan to continue to see better operating results sequentially. We had a good step up from Q2 to Q3 and expect that to continue.
Maury Raycroft: Got it. Okay. Thanks for taking my questions.
Operator: Our next question comes from Edward Tenthoff from Piper Sandler. Please go ahead.
Edward Tenthoff: Great. Thank you and congrats on the progress on really all funds and intrigued by the new collaboration for the GLIP. Just to kind of understand a little bit better, so with respect to Pfizer say that you will recognize is this all the revenues or just the US revenues that are one quarter delayed? Thank you.
Adam Logal: Yeah, so, yeah, so Pfizer was just delayed in reporting the gross profit share for the US region, so we’ll have a bit of a catch-up quarter. You know, we stayed conservative in our guide just because we don’t have the data yet to quantify how the US numbers will get reflected, but we do believe that we’ll see that it will be a one-quarter kind of catch-up and then routine after that.
