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Daniella Gonzalez - October 22 VIEW RECORDING: https://fathom.video/share/pVQkMCTWSPCbGszTrp3xpJwii64T88-F Current product usage and needs @ 0:00 The lab representatives discussed their current usage of UTAK's synthetic serum product, noting they use it for calibrators and blanks in their testing matrix. They are looking to potentially order a higher volume of the product as they ramp up patient testing. UTAK's representatives offered to provide more details on the product composition and pricing options. Reviewing previous quote and product details @ 1:41 UTAK's Nicole Miller reviewed the previous quote the lab had received (quote #5439) and confirmed it was for a stock synthetic serum product, not a custom product. She explained that quotes typically expire after 3 months, so a new quote would need to be generated. Estimating future usage and product recommendations @ 3:09 The lab representatives estimated they would need around 100 mL of the synthetic serum per month once they are fully operational with patient testing. Nicole provided recommendations on the most cost-effective ordering options, suggesting ordering multiple 100 mL bottles of the stock product rather than a custom larger size. Providing product details and comparison @ 4:45 Nicole explained that the stock synthetic serum product has an 18-month expiration, and based on the lab's estimated usage, they would likely need around 78 bottles total over the life of the product. She offered to provide a custom quote for a 1 liter size as well, for comparison. Next steps and action items @ 10:51 The group agreed that UTAK would provide the COA (certificate of analysis) for the specific lot the lab had previously ordered, as well as a custom quote for a 1 liter size of the synthetic serum within the next 2 days. This would allow the lab to compare the options before placing their next order. Daniella Gonzalez - October 22 VIEW RECORDING - 11 mins (No highlights): https://fathom.video/share/pVQkMCTWSPCbGszTrp3xpJwii64T88-F --- 0:00 - Raleigh Gallina (UTAK Laboratories) Know that, you we were trying to wrap up so that we could connect with you two. How are y'all doing? Good, thank you. 0:08 - Labtech I have Dr. Robbie, Dr. Wade with me as well, lab director and lab CEO. We just wanted to touch base. We had gotten quotes for this serum before. We primarily use it in our matrix for calibrators and blanks. It's just been the one we've been using. Not necessarily, not sure if this is the one we need to be using, but we just went through it fast. Wanted to see if we could potentially get an order for higher volume. Yeah. Yeah, awesome. 0:46 - Raleigh Gallina (UTAK Laboratories) And thanks for, you know, giving that lead in too. When I received your email, I actually figured that it would be good to connect with my colleague here, Nicole. She's actually the director of engineering. She's been with UTAC for 10 years. And so I figured that, you know, having her be able to connect with you, kind of hear what that volume needs, what needs were on your end, but then also like really what it is that you're looking for. She might be able to provide a product recommendation or, you know, hey, we'll just get you that higher quantity too. So before I turn it over to her, I'll just give a quick intro since it seems like everyone on your side is definitely more tenured and intelligent than me. So I'm Raleigh, I've been at UTAK for five years, but I'm relatively new in SEAT. And so, Nicole, I'll go ahead and pass it along to you just to give that brief intro on your end, but then to also provide potential other recommendations or ask any product questions that may be beneficial. Sure. 1:41 - Nicole Miller Nice to meet you officially. The first question, you mentioned that you have a quote already for this product, correct? Are you able to advise what quote number that is just so I can pull it up and look? 1:53 - Labtech Yes, let me, this was a quote we had gotten previously. I'm not sure if it's something we need to keep getting quotes for, but it's a quote number 5439. 2:11 - Nicole Miller Give me one moment to pull it up here. So for custom product quotes, we generally have an expiration length of that for three months. So it just means that we'll have to be re-quoting it just to make sure that our prices are not keeping up with the cost of it here. Is this a stock product or a custom product? 2:35 - Labtech I'm under the impression it's a stock. Give me one more second here. 2:43 - Nicole Miller I don't think it's going to stop. 2:44 - Labtech It's not because it shouldn't be. 2:59 - Nicole Miller I까지 made one more I'm you personally. You Okay, got it. So you're just ordering stock SMX serum then? Yes. Got it. So the quantity you used, you used about 100 mils in what length of time? 3:17 - Labtech Well, since we're still doing validations, we weren't running patients. We're not up and running with patients just yet. So with hearing their experiments, they lasted us maybe like three-ish months. Okay. But once we're up and running, we're going to be going, I estimate going through like 59 milliliters a week. Okay. 3:50 - Nicole Miller I mean, I'm sorry. Wait. 3:52 - Labtech Probably. No. Sorry. It was going to be. It was going to be a month. Yeah. So maybe a month. Fifty-nine milliliters per month, correct? You need to take a break. Yeah, that's true. So calibrators, you're talking about six. Six plus three times nine. It might be a week, actually, if we are having neurons a week. So five mils, and then that's 20. Yeah, I would want to say maybe, like, it would last us a month once we're up and running with patients. Okay, so 100 mils per month, really? 4:41 - Nicole Miller Mm-hmm. Okay. Exactly. So the expiration date that we assign for these products is 18 months from the date of manufacture. So I would say, like, even best-case scenario, we're talking about, like, full length of expiration. That means about 52 bottles, or sorry, 52 bottles. So 78 bottles total in a year and a half of the expiration. So usually how it works with our synthetic matrices and stock products in general is we're able to offer the best price per mil just because we're able to make that material in bulk. So frequently customers will ask for a custom fill size of our synthetic urine or serum that it might be a lower quantity than our stock, but it ends up being more expensive because we're having to do a custom lot just for that. So I would say as like a general statement that ordering multiple like 100 ml bottles of our stock product is going to be more cost effective. I think when we get to very, very large quantities, then maybe it will be comparable or maybe a little bit more cost effective to order as a custom. But for the quantity that you're using, I think it's probably going to work out better just to be ordering multiple bottles of the stock product as opposed to us coating it as Custom product. For more context, though, if you were interested in a custom, if for some reason you want to make sure that you're getting the same lot and not having a different lot that comes with each shipment, we could make a product that goes up to one liter of the synthetic serum. So, again, that would give an 18-month expiration from the date that we'd be manufacturing it. So, one liter by that consumption, I think, should be more than enough to last you for a solid chunk of the expiration length. Was there a question, too, about, like, human serum versus synthetic serum? 6:34 - Labtech Yeah, I think it would be helpful to us to find out what this serum exactly contains, if at all possible, something you can share with us. as we are in the process of developing other assays that would target other hormones, and we just want to make sure that it's going to be potentially a good serum to use so that we have no... Okay. 7:02 - Nicole Miller So our COA will contain all the materials that go into the product. Do you have a particular lot number? We could send a COA along? 7:11 - Labtech Yes. One second. And this synthetic, it's not a stripped serum per se, right? It's synthetic. You manufacture the serum. It's not like you have a serum that you can run through filters and other… Correct. 7:32 - Nicole Miller So this is lab-made serum. So it is not… What I think that you're making for is like hormones, correct? Yes. Yeah. So we would expect that to be zero. Sometimes some unexpected impurities catch through for certain things. But as far as actually adding something in, I would lean more towards that it should be close to zero for hormone levels. Yeah. 7:57 - Labtech So the lot number is D720… 8:01 - Nicole Miller Okay, we can send along the COA for that one, and that will list out all the components that are in the matrix, so that if you're trying to see if there's some sort of interference, that will list out everything that's present in it. Great. 8:14 - Labtech And if we end up ordering the one liter, that's going to be a custom thing that's going to cost more money, you think, or it's going to be cheaper at some point if we are using more of it? 8:24 - Nicole Miller It depends. There is a tipping point that, like, where the costs will meet in the middle, where a custom product can be similar in cost to a stock product. So, I mean, if you are interested, it doesn't hurt for us to quote it, to at least have that side by side comparison if you are interested in seeing that price. But usually when we're talking about, like, two bottles or so, like 200 mils worth of material, it is always going to work out better just to order two bottles of the stock, as opposed to a custom fill size of 200 mils. But like I said, we're happy to quote it just so you have that in hand, too, just to see a direct price comparison if you are interested. Thanks, Nicole. 9:01 - Labtech Real quick, what's the current cost for 800 ml? 9:12 - Nicole Miller Let's see…so it looks like the quote that you have is still current. So that one expires at the end of this year. So for 100 ml, I think that it's $870.60 for one bottle of 100 ml of our stock product. 9:34 - Raleigh Gallina (UTAK Laboratories) And so, Nicole, too, I just wanted to clarify. So because the quote that they have, so that's quote 5439, they can go ahead and just repurchase on top of that, since that quote's still valid. But then, as kind of a thought experiment, we can also quote the custom side for product comparison as well, correct? 9:57 - Nicole Miller Correct, yes. That's so beautiful. 10:00 - Raleigh Gallina (UTAK Laboratories) Is that something that you all would be interested in before you go ahead and still leverage that valid quote, receiving the custom quote ahead of placing that order? 10:11 - Labtech I think that would be helpful considering that, you know, it has, you said, 18 months stability for this one, Lisa? Yeah, now I'm questioning it. 10:20 - Nicole Miller It's either 18 or 24. It's at a bare minimum 18. Yeah. Okay. 10:25 - Labtech I think it would be good if the quote would be available soon. Do you think you can send that to us only today? 10:33 - Nicole Miller It might not be today, but within the next two days or so, you should have a quote back. But we'll do it for one liter, custom fill size, but same design of synthetic serum as our stock product. Okay. 10:47 - Labtech Okay. Thank you so much. Yeah. 10:51 - Raleigh Gallina (UTAK Laboratories) And I'll go ahead and for that lot, I'll get you that, the COA as well, so that you have that in hand. So those will be our action items from the call today. Thank Okay. Great. 11:03 - Labtech Thank you so much. Yeah. Likewise. It's so nice to meet you all. 11:07 - Nicole Miller We'll be in touch soon. Thank you. Thanks for the help. Thank you. Appreciate it. Take care. Bye.