ELOX - Earnings call transcript Q3 2020 | Eloxx Pharmaceuticals, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon everyone and welcome to Eloxx Pharmaceuticals Third Quarter 2020 earnings webcast and conference call. [Operator Instructions] At this time, I would like to turn the call over to Barbara Ryan, Eloxx Investor Relations. Please begin.

Neil Belloff

Thank you, operator. Welcome and thank you for joining us this afternoon for a review of Eloxx Pharmaceuticals Third Quarter 2020 financial results and business update.

are afternoon this me Dr. Joining Chief Greg Operating Neil Chief Officer, and Williams, General our Officer Counsel, Belloff, Executive Dr. Tom Haverty, our Chief Medical Officer, Dr. President, and Vice President Goddeeris, Research McDonald, Steven Matthew our of Finance Accounting. and Vice

like available Private Before SEC. we made the Securities Greg within of and be to It Litigation that turn XXXX company's important on will call the a Commission, reports remind Dr. to considered that is call annual as Executive factors, not Pharmaceuticals. replay my www.eloxxpharma call. our from are XXXX. as Any Form forward-looking today, any Reform the during only. those represent historical to are A great well now the other those be begin, this on differ statements you forward-looking indicated meaning views result would Actual pleasure our to November of Officer statements I these most statements filed of XX-K of of statements Williams, the various Act in materially as including the X in following over as discussed Risk this report results Eloxx by Securities section may the Exchange of Factors our the with Chief with filed call recent website

Greg Williams

Barbara. And call. earnings XXXX conference you, Thank and welcome to quarter Eloxx's webcast third

and clinical our for programs advance to scientific our continuing are We library. She

the company. trials be We value X no of report priority on half will point ELX-XX a highest due XXXX topline first Our pandemic. the believe concept clinical for cystic reflection disruptions for in of fibrosis, further XX proof to Phase our our substantial expect data to data complete in these we to is COVID- contingent

dose. conducted the ELX-XX highest We are trials up date have adverse independent reported. events and X Phase safety no planned been have to to serious meetings allow the committees escalation To drug-related review report dose several clinical pleased that

behind We advance their important and modifying ELX-XX production restore improve therapy disease length to not these has the a patients trials, expressed Phase the sites clinical GXXXX groups interest such options. potential could of been be feel approaches that substantially and US of The trial an X of to ELX-XX CFTR such are million Cystic from did investigators The Fibrosis respond ability are conducting is wholeheartedly. is still treatment gratified quality at work foundations tremendous. Cystic We initiative available patient to potential Fibrosis Phase top of done, in we The these the trial the is patient Fibrosis a CF major nonsense cystic an The and to represent aimed The Fibrosis treatments. advocacy our for all trial one individuals for and which ELX-XX currently who as XX% ELX-XX fibrosis with be $XXX believe if CF with who Foundation's as these to investigational that the the sites cure there mutations of protein cures to date, has top Cystic of those population. the Foundation. innovative initiatives level that success message trials. clinical CF with to delighted is path funding Foundation contributed our be clinical how lives. for functional that patients launched Cystic and a prioritizing agree finding be population, drug has to according this few any has left for support Patients that X patients. despite includes This to mediated and do the Eloxx Foundation is focus nonsense

of to quickly the We advancing ELX-XX as possible. as committed development are

clinical of at focus on investigators consists program Israel trials the X Phase sites Both Europe CF and States. at nonsense the CF one in our with in enrolling for reminder, enrolling United second open patients patients trials, patients a As least two mutation. and GXXXX label one

mentioned patient may has to funded cystic for FDA orphan be certain by endorsed support the Foundation in network clinical the medicines Europe, benefits has the and sites for Network designation endorsed the parallel, in by Trial Fibrosis in continue partially is development the clinical trial we by As development fibrosis I has our The to protocol feasible. important other which our where patient evaluate being Cystic confers trial underserved the Clinical protocol enrollment trial granted world. populations. CFF fibrosis, In earlier, network. of cystic additional US been therapeutic been our largest ELX-XX countries, In ECFS

shareholders, be provide We value to to manner. safe unmet to to medical our in expeditious treatment while the patients focused on with most mission delivering needs fulfilling and high options continue

in in and As expect clinical programs we've publishing results continued our R&D our continues advance team our ELX-XX coming there'll important of our a accelerated on over Based medical and data ERSG the progress, steady compounds library of of months. ERSG published scientific additional preclinical to and journals. our be across the pace we for that our library, cadence presented

drugs in Conference. expert, cystic responsive Hadassah Fibrosis we recently, two ELX-XX nonsense selectivity Center mediated review the for the studies Tom published our of Experimental joined review attending ELX-XX expert intravitreally Terram injected studies and codons, new protein An Journal. through milestone alleles virtual senior ERSG at This Globally Jerusalem fibrosis animal These development in across a read demonstrating scientific patient in of cystic in the data manuscript clinical enabling a American in MD, of restore in XXXX Senior in in genotypes. cystic of consultant, ELX-XX details selection as opinion important as data IND we recently restoration Israel, ongoing continue stop Cystic Medical functional North physician disease compounds eye published derived achieved on the wide Professor our Just of model. identify of support renowned a at concept who when Research, Cystic that fibrosis ongoing Eloxx an Eye a presented the Journal in can to fibrosis we for demonstrate posters the of discusses for in proof organoids production our investigational protein additional trials. the that describe premature Fibrosis the nonsense our

Our screening programs continue ELX-XX from advance and evaluate to new ERSG molecules opportunities for novel other library to our indications.

new developing as as in a in We clinical challenge tackling level is the are the the potential great There enthusiasm advanced and business community. for mutations. the nonsense most interest well our company of and high programs scientific of for community therapies

our to and quarter footprint equivalents, We $XX.X progress. We ended accelerate cash in extends our to the will cash realignment therapeutic the runway and continue third expand to the pursue partnerships our with cash through XXXX QX, appropriate, with of our end in resources of of and where million XXXX.

half top the for the for are ELX-XX additional of fibrosis indications. molecules first our to funded data advance deliver cystic We well XXXX pre-clinical activities in line in in of and to ELX-XX and library

Vice and over resources now our Research publications scientific We with who affairs. like of I'm basic and team drug to the on have the strong call have to deliver expertise goals. that capabilities to development, clinical in highly and presentations. our I on President research the will we needed would experienced Matt a Gutierrez, confident turn expand our Dr. and regulatory recent

Matthew Goddeeris

Thank you, Greg.

ERSG advance research preclinical continue library of We our efforts to partners with programs. our molecules, across advance convert our our to

will Association the ARVO, XX. for Conference Annual we As To and mentioned, several at to Greg our published presented have Vision date Israeli scientific in Cystic our pleased XXXX, continue Research American Ophthalmology, peer-reviewed we manuscripts leading upcoming and the at present had have in to Society Cystic on conferences. scientific Fibrosis present North of the Fibrosis, Conference Fibrosis and are in at journals November findings

communication In of posters we were recently original X discovery development Eloxx tracks manuscripts partners. cystic cadence X program, scientific review, of in consideration. In X presented research accelerated with X American have our Fibrosis have published addition, Conference. with under progress the fibrosis concert Cystic at and our and The our paper North the additional team X original the manuscripts, scientific

integrity premature earlier year the Therapeutics that published Healthy is stop of at across consistent preserved favorable found with this codon end tolerability and of transcripts Pharmacology a that findings the with exposure of ELX-XX of profile our is therapeutic maintained. datasets. in Target ELX-XX codon, translational indicates Fidelity This shared while poster clinical through stop journal first our demonstrating read mediates The of Experimental and the preclinical

us nonsense ongoing over oils, be to The which population, discussed through common demonstrated for identify second beyond previously effort This poster ELX-XX read mediated additional to help expanding to account variability the Phase trials across with poster CF to most found bridge the responsive ELX-XX. a better patient nonsense responsive of XX% our our understand genotypes CF with us from nonsense These derived findings findings similar individuals organoids oil. data key that X CF less with will genotypes. samples interpret few common the CF to ongoing help and

ELX-OX. As entitled happy XXX results The read representing in genetic of Greg an in published Eloxx clinical ELX-XX on lays review nonsense This experts and October a that our multiple Senior on XX the trial as mutation mentioned, new Eitan to of for a we vivo expert announce the Advisor. in recently have manuscript models ELX-OX ELX-OX trials. Journal Kerem treatment Medical the and disease disease reviews, manuscript study investigational are Phase manuscript drugs. and MD who a through currently received in the opinion participants of joined X was related Professor by far vitro on development the across groundwork CFX The publication is over agent the investigational for ongoing thus

in edition This read the through for delivered of intravitreal preclinical Journal the published activity comes formulation, would nonsense This functional through suitable molecule entitled back intravitreally I work demonstrate ongoing out ocular exposure helping the manuscript can demonstrates exposure X of ERSG range sustained supports in long-term of mouse that compounds other Research. be read Experimental a and IND The was manuscript of a October mutation a consistent model from The library target compound to read work chronic agents our of molecules which small administration. establish eye. provide over our time our release of program and and through enabling a of period achieve to a at administration

President of and our quarter third to As XXXX found can McDonald, website. results. Finance on to review and our provide Steve publications presentations Vice be now our I of would Accounting like financial our a ask latest always,

Stephen MacDonald

Thanks Matt.

will XXXX, of million cash and and total believe through cash end XXXX. in operations which we $XX.X fibrosis the equivalents through of the As of reported September cystic XX fund data the company's company topline

or the share. For the million quarter ended company September loss net XX incurred of a per $X.XX XXXX, $X.X

G&A to a XXXX. totaled R&D. same allocated the compensation $X.X to for loss and per share with to in compared $X.XX million XXX,XXX expense period or stock net X.X As million of $XX.X Non-cash million

quarter Third our the salaries million, $X.X fees reduced with XXXX from head related in head million XXXX XXXX. and XXXX the was decrease count expense period lower which decreased the temporary due pause resulting million the in driven G&A and R&D for count R&D expense clinical in professional million third to for period compared for and services $X.X quarter-to-quarter $X.X to same same professional quarter in of period. totaled XXXX COVID-XX $X.X to The due lower trials expense by the for from primarily costs.

we're reach in quarter outstanding common XXXX, as March, your back some financial concludes throughout effective Also million modeling stable comments XXXX quarter-to-quarter it of the our variation. that of for will fairly and cash XX I'll September rate with realignment call XXX,XXX. the fourth turn total remain purposes, well the we stock and in XX our and Greg. to third-quarter This of XXXX the burn Given shares expect

Greg Williams

priority be value in major believe complete highest cystic concept proof data X Phase our inflection for topline will you, these Thank the and our first of to It's that XXXX. in point company. fibrosis data clinical half our report trials Steve. to We a

to pleased concept highest proof independent ELX-OX and adverse safety are the drug-related up X the We committees dose that that no events date, clinical escalation Phase for level to our serious trials and the of few CFTR has if restore and production The review allowed to the have treatment length their we of improve the ELX-XX quality of options could patient been any meaningfully, population studying potential reported. protein lives. for have are

benefits FDA for We ELX-XX for granted that also that focused our assuring for and designation We're important fibrosis, the clinical drug are can of accomplish cystic ELX- XX which treatment calls. we, the investigators on these gratified the laser has can several orphan sites program. for

further continue supporting fibrosis, cystic their these Several read we to novel therapeutic compounds portfolio ERSG tolerability and our advance Beyond encouraging demonstrate through activity levels of of development. of molecules.

has been being there As important our marked of advance in we a number manuscripts acceleration to scientific continue programs, journals. in the published

and trend you joining very a team us under to Thank you the We as our third on look much, thank call operator. on this quarter has forward continue review. number growing our R&D update manuscripts to continuing progress. XXXX we expect of We for earnings to you

You may questions. now open the call for

Greg Williams

attention. interest our you and and we to Eloxx as your we It's an for updating time Thank look exciting you progress. continue forward to

Operator

today's this Thank conference. you ladies gentlemen, concludes and

may You now Good disconnect. day.

Eloxx Pharmaceuticals (ELOX) 7 Nov 202020 Q3 Earnings call transcript