INTELLIGENT BIO SOLUTIONS INC. Q1 FY2022 earnings call

• Leadership changes: Board has prioritized product development and manufacturing, leading to organizational and leadership structure changes. Interim CEO Steven Boyages will work with the team to drive GBS forward until a permanent CEO is found. - Saliva glucose biosensor: Made advancements in clinical action plan, including defining saliva and plasma glucose relationship, developing algorithm, and validating for regulatory approval. Submitted pre-submission package to FDA. Awarded $4.7 million manufacturing grant from Australian government for high-tech biosensor facility. Engaged L.E.K. Consulting in Hong Kong for commercial partners in China. - Saliva SARS-CoV-2 antibody test: Preliminary clinical study at Harvard showed comparable specificity and sensitivity to commercial tests, with sample to answer time <10 minutes, a key milestone towards validation.

No specific product segment financial performance details provided in the transcript that break down absolute terms and revenue contribution %.

• GBS believes cash, cash equivalents, and marketable securities at September 30, 2021 will be sufficient to cover expenses and capital requirements into the first half of 2023. - Expect to find a permanent CEO within the next 3 to 6 months, looking for high-caliber candidates, particularly a U.S. candidate to work with teams on site.

• Forward-looking statements involve risks such as GBS' ability to develop and commercialize diagnostic tests, realize commercial benefit from partnerships and collaborations, and secure regulatory approvals. These statements are predictions involving known and unknown risks, uncertainties, and other factors in the company's public filings with the SEC.

Q: Is the change in the CEO role expected to have any effect on the strategic direction of the company, or is it more something in terms of execution?

A: The Board saw this as a strategic focus. Interim CEO Steven Boyages has an extensive clinical research, technological, IT background. It's seen as building on what's been achieved to date, an acceleration of effort on key clinical programs and partnerships, not a change in direction.

Q: Is there a set timeline for how long it might take to find a permanent CEO?

A: Steven Boyages expects to find a permanent CEO in the next 3 to 6 months, looking for high-caliber candidates, particularly a U.S. candidate to work with teams on site, but won't compromise quality for timeliness.

Q: When do you expect results from the data correlation study between blood and saliva?

A: Expect results by the end of March 2022.

Q: How was the manufacturing facility coming along and when do you expect to break ground?

A: Grant was highly competitive. Finalizing the site expected in Q1 2022. The facility will play a role in transfer to manufacturing, quality control, and equipment commissioning.

Q: How much of the total cost will the 4.7 million take care of?

A: The grant is dollar-for-dollar matching, included in budget for equipment and labor component.

Q: How long to build and have the facility operational?

A: Details in Q1 next year before March, currently in discussions on timelines.