BioRestorative Therapies, Inc. Q4 FY2024 earnings call

• BRTX-100 Phase 2 trial for chronic lumbar disc disease showed positive trends with no serious adverse events, and preliminary data indicated promising morphological changes. - FDA granted Fast Track designation for BRTX-100 chronic lumbar disc disease program and cleared IND for Phase 2 cervical trial. - ThermoStem program is developing cell-based therapies for obesity and metabolic disorders, with ongoing patent portfolio expansion and discussions with a commercial company regarding license agreements for metabolic disease programs.

For the 12-month period ending December 31, 2024, BioRestorative’s revenue grew 175% year-over-year to $401,000. The company’s loss from operations was $11.6 million in 2024, a 24% improvement from the $15.2 million loss in 2023. The net loss in 2024 was $9 million, or $1.16 per share, a 14% improvement from $10.4 million, or $2.47 per share, in 2023. Cash used in operating activities in 2024 was $8.2 million, and the company ended the year with cash, cash equivalents, and marketable securities of $10.7 million with no outstanding debt.

• Expect to present more data from BRTX-100 Phase 2 trial with larger patient population, optimistic about consistent positive trends. - Cash burn in 2025 expected to be similar to 2024, with 2026 likely lower. - Anticipate commercial announcements related to BioCosmeceuticals platform soon.

Q: Relating to the resolution of annular tears and decreased protrusion size in imaging, is this something expected to happen spontaneously?

A: Francisco Silva stated it's not spontaneous, especially for annular tears. Encouraging to see resolution suggesting potential effect of the product.

Q: View on expanding BRTX-100 to cervical program as one-off or broader strategy?

A: Francisco Silva mentioned it's part of a broader strategy, aiming to apply BRTX-100 to other musculoskeletal indications with hypoxic environments.

Q: Regarding Cartessa revenues, expected to be lumpy or consistent?

A: Lance Alstodt said it's early in the commercial relationship, expecting it to become more consistent over time with potential future announcements on commercial opportunities.