SNSS - Earnings call transcript Q2 2019 | Viracta Therapeutics, Inc.

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Operator

Good afternoon, ladies and gentlemen, and welcome to the Sunesis Pharmaceuticals Second Quarter 2019 Earnings Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the call over to your host Mr. Officer Vice Financial Corporate Chief Quinn, and President, Senior Development. Willie is your floor sir. The

Willie Quinn

XXXX. you With Chief Welcome Dayton joining Commercial; Development; everyone. for Thank Vice Senior us. Vice Research Chief President provide Dayton Officer; the Deepali Par Hyare, Executive details program, vecabrutinib Misfeldt, on Executive me Operations. recent a financial events, of will will Judy overview brief Officer, Vice Fox, Scientific quarter Suri, and Clinical President Judy corporate & second the and review Interim are today President, will more I provide

We for will all then open we available. the call for be which questions will

the future let the begin, These of qualified are important intend Information statements could we call, represent materially forward-looking those in with press we such to factors to that call release be by accurate actual filings in today's today's differ set me statements. SEC, do and Before not results concerning and on we during that today's expectations is conference events. remind from you which intentions, the forward-looking update. statements forward-looking Company's making cause Company's today, forth discussed will beliefs as or

to With turn me the call that, over let Dayton.

Dayton Misfeldt

refractory joining Good our lead hundred the half asset vecabrutinib. us. had Thanks, you lymphocytic opened Phase milligram that year we patients the of or trial chronic dose relapse by our leukemia began Xb/X of the the made thank afternoon escalation in Willie. the of significant progress and advancement CLL, We've on for announcing first XXXX portion cohort. we with of In

XXX XXX that we milligram for the the pleased trial that arrived progressed enrollment milligram milligram are strong cohort the is continued the cohort underway XXX cohort. there's and report well and I'm seeing we the study. to to opened May, announced we In has

malignancies. well and highlighting of June, we B-cell in Annual other in clinical activity CLL data profile, vecabrutinib presented at preliminary evidence EHA safety advanced tolerated Amsterdam, the Meeting In and

that trough expected vecabrutinib activity. reported increase with steady encouraging inhibition state approaching we levels provide pharmacokinetic in clinical to medium BTK to continuing dose Furthermore, concentrations, consistent remains profile with greater

Phase the will The tolerated and/or X, activity of escalation Phase dose In safety of Phase determine mutation. dose recommended CLL the investigated CXXXS X Xb CLL and maximum cohort in the predefined patients vecabrutinib for a dose including be expansion. patients, with cohorts BTK the will

a We the critical study. laying later X the American track update of the Phase of the provide groundwork Society remain to hematology year at on component and we're for this meeting actively

remain about inhibitor Beyond vecabrutinib I'd we excited that PDKX SNS-XXX. our proprietary like to people remind

formulation While pharmacology completing our manufacturing we focus for preclinical studies, to and are vecabrutinib. trial Xb/X primary activities remaining for Phase SNS-XXX,

and recently with financing is July, Underscoring leading existing our million net we bolstered with programs new $XX.X support development completed sheet. from proceeds investors. our institutional In an approximately of balance equity

us will of Phase infusion vecabrutinib advanced portion of important X including to cash critical the trial. This through milestones, allow the start the

Fox to critical of all Behind and invaluable most vecabrutinib. with our is Judy who the recently leaders programs made dedicated have team, Par includes and Hyare, which contributions our accomplished developments

Executive President Officer, Development; was Senior Vice to President, promoted Commercial. Scientific and Judy Chief Vice Research was promoted to & Par

With to the execute positioned our commitment, the team and pipeline. hand, goals our resources for vecabrutinib strong we are on in experienced well and

to over turn With Judy. that, I'll the call

Judy Fox

Thank you, Dayton.

of We will believe our team, and seen continued programs. are with and executing with clinical our this very that happy internal year, our we've trial momentum we the be dedication on the on investigators support the

the anticipation X and covalent starting sites. Our treat continue BTK of to the develop component of investigators inhibitors these resistance study, the of to in of patients. to us needs Phase the comments belief potentially our unmet vecabrutinib share we patients add remind to In

in Center U.S. Baltimore; and the recent Cancer The Institute Center Cancer Cancer are The Sydney at Hawkins Comprehensive Research John Oncology Oregon. in Eugene, and additions Seattle; Fred Willamette Chemo most Hutchinson

as into expansion We sites transition a will Phase include U.S., the in for additional seamless into and as Europe. well X plan

With has the strong cohort support from our investigators, the XXX enrollment rapidly. for progressed milligrams

this time look data forward to for detailed like to three including from December expect meetings updates. a then. scans medical and to everyone in in that cohort ASH months to update major full have target we clinical remind prefer We I'd presenting for

given this the progress reflects serious of multi-centric drug-related favorable results vecabrutinib are far we profile summary, particularly at that Safety and In study in pleased with enrollment, a and trial year to with we've no adverse date. the experienced made noteworthy so execution this events

presented selective far, BTK an evidence elaborate profile clinical into we Phase escalation inhibitor move and to forward vecabrutinib's and looking of unique dose thus clinical X. complete as pharmacokinetics safety we're the a activity With as the

I over Willy to review will call financial the results. now to turn

Willie Quinn

Thank you, Judy.

through for As and biopharma the offering advancement second successfully This and in general Dayton approximately equity existing quarter, new purposes. top-tier investors. corporate million we the mentioned, Phase of will and initiation other vecabrutinib an $XX.X raised X with be used the from of R&D from financing

On side, everyone a I'll we Bank facility Silicon loans previous from new our in with that the Valley debt April. remind refinance

end is current XXXX. Our debt interest only of through the

the cash X XXXX, XX.X loss million Turning was XXXX XX, for as XXXX. operating ended months to XX, the ended quarter June to $XX.X results, in the sorry We use from months X.X equivalents. was June and million activities total cash X quarter million $XX operations for ended compared June in cash the million for quarterly and the XX, with

financing XX.X and number recent be forma net million in cash our with marketable securities from $XX.X million. Restricted proceeds would the pro the

add and the Phase trial. development spending on recruitment For trial the clinical of accelerates of and our we sides for XXXX, remainder additional X portion as concentrate will to to clinical we patient of continue vecabrutinib increase expect expenses our the

open let's that, With Operator? questions. call to the your

Operator

Colin. first Your Mr. line Instructions] [Operator from the question comes of Marc Frahm from

is line sir. open, Your

Marc Frahm

sustained the to maybe target that in what Can context expect that you days around or exposure XXX X,XXX a exposures of for you're XXX to some targeting us for would to innovation? earlier from of get, the kind XXX, expect from the remind I just XXX you context as going and that of you about guess to milligrams, milligrams incremental the

Judy Fox

EHA in great. in presented from we what And provide dosing in the the at seeing cohort, saw so we our for at and looking noticed we interval. expect goes, we presenting, this three trough cohorts. that's addition value milligram the the we're know which across values that third for we're context increases Yes, as trough And expected XXX concentrations about in our to first at see of trough data

exceeding do we be onwards. X,XXX So, milligrams to mil we progress expect as per

Marc Frahm

for target? that's X,XXX be at milligram XXX the been that that would XXX would or for milligram you that expect just And also milligram

Judy Fox

expect provide data see we'll and to would asset. we increases Yes, full

We are at EHA we've what pleased very seen presented and today.

Marc Frahm

inhibitors. BTK under royalty then maybe in you partnerships? again obligations rights one, to then just Biogen BTK [indiscernible]. relationship kind you just Can have housekeeping from And the that there's with Biogen been clinic a of the have or historically, And around any old

Willie Quinn

Marc, the Willie. rights they of Yes, that to scope it's our just new and have prior is We this collaboration. a outside don't initiated that, that's program

Operator

comes Oppenheimer. line question next Your from from the of Hartaj

Hartaj Singh

Just after you. of an had little sites, a XX. you talk you're One last a you to -- real kind of update. that think sort about bit got you is know I that it is time Judy, couple going I the at you X patients quick. seeing Can are CLL Thank of up kind quick just mutation CXXXS patients? questions more seeing, lymphoma been seeing patients, on more patients the seeing had just follow you Richter's you mostly know as then up a, opening PDK. site? Are you've I those just Are to lymphoma And of previously. changing? transformation you're I a

Judy Fox

sure. Yes,

would that seeing address So, that in move continue predominating EHA we as we terms And Does patients are size question? -- as we're we to we consistently that forward. enrollment the CLL given at, to saw of at the that your study. expect are

Hartaj Singh

on to Yes. I imagine presenting sort patients you're follicular like are also DLBCL going lymphoma you but at all-comers, let's ASH? of say I be know data seeing

Judy Fox

think, I is trial. day the of the into for the enrolled at we see as ASH we'll prepare end

about a onward. to haven't and continue the think, in evolve how, chemotherapy continue. patients had patients in study seeing prior enrolled we of are And enrolling who see what evolve in patients the of seeing we're the that I again we're how seeing prior trend we'll terms as therapies and I we cohorts think

Hartaj Singh

seeing, venetoclax one Also the right? patients, think two, you're you update. I the assume, are or seeing more I got you're seeing last And time we

Judy Fox

the presented have treating patients poster, EHA number had patients in patients. we Yes, in venetoclax we heavily and and a CXXXS of with as been chemo the

tumor that We activity have burden. with XX% had good in decrease venetoclax prior a had clinical

Hartaj Singh

targeting you you then sort what and tumor on could just for Can where types think you molecule? the question. preclinical on with are you exactly PDK, that just remind Judy. And activities of Thank the be us

Judy Fox

the some with hope we that sharing lead where malignancies. year that this provide pharmacology expect seeing about work update completing fall. excited a go, potential later us and formulation excited indications are are on manufacturing later PDKX to has about We to and along that explore in believe hematologic development more we're we to a drug solid we will and we're and be broad complete publicly tumors We'll both in and studies it's

Operator

Wells [Operator Instructions] Our next Fargo of line Jim the Securities. Birchenough Mr. from from question comes

open, is line sir. Your

Yanan Zhu

in dialing Jim. for is This Yanan

how milligram enrollment. Just about wondering also you for that cohort, cohort, the many talked cohort? milligram are you patients talked about XXX for XXX have the in And rapid

in the terms to cohort the is a how of dose many you sense there? trying get also patients milligram? you. XXX Just on further the going Thank size to And wants to increase lastly, is dependent be also of would beyond in be of what

Dayton Misfeldt

said that. So, for cohort, on anywhere X the and we milligram even between XXX patients X

our up design you modified As with X we roll remember, patients. might can his

mentioned, pleased do let what there. And that's what we're that address cohort. are and Judy you're Judy up milligram XXX moving in seeing cohort the are to can I'll rapid we seeing those very well. So, enrollment as for we with as

Judy Fox

we data that Yes, by complete far as ASH. And I to up, so, as the ability time the cohort XXX we're confident we'll move have moving then -- do of have up. the think milligram on

protocol. written that in the have opportunity We for

milligram on we other further well. the cohorts dose escalation will make the as the and We continue the or examine from data as decision XXX cohort

driven be decision. it'll a So, data

Operator

am Instructions] like Dayton showing no time. further [Operator I I would back now this at now Misfeldt. turn conference the questions to to

continue. may You

Dayton Misfeldt

at conferences call to ongoing forward We're next afternoon. at your you several of months for progress and for at there. the our and all of and on interactions participating you and see to our many Good today ASH year end of our We the support Thank future a hope updates. and the number and over look interest.

Operator

Ladies and gentlemen, day. you your this concludes today's wonderful participation a for and have conference. Thank

disconnect. You may now

Viracta Therapeutics (VIRX) 7 Aug 192019 Q2 Earnings call transcript