Vyant Bio, Inc. (NASDAQ:VYNT) Q3 2022 Earnings Call Transcript

Unidentified Analyst: Okay. All right. If I could just ask a follow-up, too, on the trial, like, how much is that going to cost and what sort of burden will it put on the company? Like you mentioned that you would be leveraging assets that were already in place, could you please elaborate on that?

Andy LaFrence: Yeah. A couple of things I can comment on that. First of all is, in our 10-Q we disclosed that the CRO contract is about A$4 million. We do have a structure in place in Australia associated with our vivoPharm business to actually to use that entity as the sponsor of that clinical trial. So we do plan to not only take advantage of the current Australian dollar, U.S. dollar arbitrage, but we also plan to use the R&D tax rebate in Australia to refund some of that clinical trial costs.

Unidentified Analyst: Okay. Is vivoPharm Australia, has that also been sold off or is that still part of Vyant?

Andy LaFrence: Yeah. That’s a great question. So there’s two entities and so one is as a parent company, which we plan to retain. This is one in which has the benefit of the R&D tax rebate structure in place that we can use. And then the subsidiary company, which is the operating company there is still for sale and we are in the process of talking through an arrangement with part — with a party related to selling that so that it will continue to work our way through in the next couple of months. We are hoping to have it done by the end of the year.

Unidentified Analyst: Okay. Great. That’s all I have. Really appreciate it.

Jay Roberts: Thank you very much, Lucas.

Operator: Thank you. That concludes our Q&A session. I will now hand the conference back to Jay Roberts for closing remarks. Please go ahead.

Jay Roberts: Thank you, Robert. And thank you everybody for participating in today’s call. We are very happy with our progress so far. We look forward to keeping everyone informed of our progress along the way. Thanks again for joining the call today, stay safe and well. Good-bye.