The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Matt Duffy - BDR Research - Analyst
: Good afternoon. Thanks for taking my questions. First one for Tom, I think. I wonder if you could give us your perspective, given your background
on the importance of some of the differences you outlined between rPA and the first generation anthrax vaccine. You laid out several different
things, but how important do you believe that is to DOD and BARDA?
Question: Matt Duffy - BDR Research - Analyst
: Okay, very good. Thanks. And then Valortim. I wonder if you could give us some more color on the investigation into some of the adverse events
and the status -- specific status and next steps for potentially getting the partial clinical hold removed.
Question: Matt Duffy - BDR Research - Analyst
: And what's the process once you've wrapped that up? So you finish that and then you submit it back to the -- to BARDA or FDA or do you interact
with both? And then what sort of decisions do you need?
Question: Jason Kantor - RBC Capital Markets - Analyst
: Yes, several questions, I guess, on the $4.1 million that you could get from reworking the contract for Protexia. Would that come all at once or is
that something you would get over some period of time? And I guess on the NIAID contract, which may unwind, is there -- do you have to -- would
you have to give back some money or is there some kind of effect on your balance sheet from that change?
Question: Jason Kantor - RBC Capital Markets - Analyst
: And then on the balance sheet, you said that you will have all of your invoicing current by Q2. What about your accounts payable? There was a big
jump in accounts payable. Is that -- does that also have to get reconciled in Q2?
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Question: Jason Kantor - RBC Capital Markets - Analyst
: Okay, thank you.
Question: Debra Fiakas - Crystal Equity Research - Analyst
: Thank you. Several of my questions were answered, but I just wanted to clarify with you, Charlie, that your expectation for bringing your accounts
receivable current, does that include both the bill that is in accounts receivable as well as the unbilled?
Question: Debra Fiakas - Crystal Equity Research - Analyst
: Okay.
Question: Debra Fiakas - Crystal Equity Research - Analyst
: All right. And then also, could you let us know what your cash usage was in this quarter?
Question: Debra Fiakas - Crystal Equity Research - Analyst
: Excellent. And I understand that there are still some unknowns with regard to the SparVax contract that's under question. I just wondered if, in the
course of the conversations that you've had with the GOA and so forth, if you had understood of any precedence for this sort of thing and if you've
been apprised of what the outcome was. In other words, have there been other contract disputes of this nature?
Question: Debra Fiakas - Crystal Equity Research - Analyst
: All right, thank you very much.
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