SAVA - Earnings call transcript Q3 2018

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Operator

Greetings and welcome to Pain Therapeutics Report of the Third Quarter 2018 Financial Results. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions].

As a reminder this conference is being recorded. to please conference go like host to now Schoen, Eric ahead. would turn over the your I

Eric Schoen

Those company's forward-looking risks materially Good afternoon any Report statements uncertainties XX-Q without risk and statements report June and today's this could call. as expected ended thanks by that affect of for various all of like the company's call be on be remind you historical to such facts XX, quarter you limitation considered December and XX-K described Form results. in ended other will XX, Annual the and on that the Form year its management statements the XXXX. will during I'd include made the than for forward-looking for XXXX joining to subject quarterly

this obligation revise by this time call of except or date information call. of accurate XX, day reflect to is the live law circumstances any contains company as the after events of that to XXXX only the call or no October update as the forward-looking statements required conference Importantly sensitive undertakes

Remi Barbier

you, This Thank Remi Eric. Barbier. is

you QX, we and a I Alzheimer's As me format for the today's will investors a Eric then we our and session. let disease call will on information to financial audience then the review call. do REMOXY update over very present in brief for and begin XXXX. program Q&A turn will for

just as Eric to me Chief over remind recently that Officer. it turn let I before Financial Eric everyone So has joined

expertise I move XXXX. this is that companies in growth an Alzheimer's exceptional got the our going accomplished financial He's we Eric be asset on broad for to clinical to time going and to with QX, significant will call with update very Wednesday. day an healthcare team. disease. experience on He's to full our stage With of fact with he's addition a with as to I targeting think first turn employment over us environments programs forward be the his In and an executive us

Eric Schoen

nice introduction, Therapeutics. I'm the for to Pain years just of Finance finance [indiscernible] to the to Senior at recently Thanks Since was that companies XX bring I say of wanted Chief growth almost Most Remi. experience new pleased and I'm Accounting with Vice I the President company, to Officer.

publicly my a nine career started listed years Vermillion, For Price Coopers. before I lifescience Waterhouse traded that, with and almost NASDAQ at company

again or National I'm to offerings quarter in So after Alzheimer's NIH to of pipeline. Health work strong a equity happy financial on Institutes We're company of of grant. well the disease non-dilutive the two our joining strength be our positioned in position and advance

the $XX.X cash in we the third equity front, million approximately quarter. raised during financing On

at XX, total was Our cash September hand $XX.X on million.

cash million proceeds are and again October, to these for We NIH during separate these II equity of up Collectively grants financing. who that the our non-dilutive $X.X up represent with also Phase to issued warrants warrants of If a to in support Alzheimer's company million. we PTI-XXX would $XX.X grants exercised represent the awarded growth disease. NIH all recent In research candidate August our drug two has to financing. two treat program announced

same quarter prior included the of compensation quarter were reduction development compared decrease of were to million $XXX,XXX in received the year compensation net in for $X.X to prior XX% the in the expect loss the million administrative included received million million to $X.X non-cash prior cost expenses that based $X.X prior cost the stock year. year the Research NIH the the were received XX% year. the decrease. lower in same non-cash as the $X.XX the of expenses $X.X General in based $X.X of during million for to development these period and representing and million share same and million Net in compared spending decrease. period compared representing XX% a funding same this During a same of and expenses $X.X compared grant representing the in was NIH for Research and same quarter from per expenses the same to in $X.X prior period REMOXY. for year. the $X period to compared expenses. a due quarter during loss expenses prior on period recorded was million and I $X.X G&A current the million from quarter to compared in year. for $X.XX million Net period research the reimbursement the development $X.X for a million million we the the the in $X.X prior quarter research stock $X.X the year

for expected For $X utilization $X usage, to cash expected between cash full reiterate the million and we our year be million. XXXX

to back Remi. Now I it turn

Remi Barbier

financial Eric, nice I have topics our overview detailed you, situation. discuss. very for a of Thank to two

conclusion REMOXY benefits to a time abuse on to opioids first in I now reach addiction. FDA to our of by was The With that, not XXXX concluded I that everyone the be and that the of second REMOXY that a the think do Alzheimer's regards REMOXY back of knows would continue is disease. outweigh the in course of and especially believe August program risks. based crisis bizarre in during

We perhaps, accepted review our just that extensa. front and certain don't an but we date also actual should yet to that abuse-deterrent public continue to oxycodone were against I have of month publications peer November have class sorry It a will two we I announce versus staggering be shortly we best data news I'm it. some and December. this a in On recently in even that supports journal, believe to learned evenly a REMOXY possibly state around good amounts announce have

or all don't a weeds, yet. but complex to still REMOXY next filed state it's formal three really As same I far other If slightly with and to to weeks. outcome. we're has called a fairly file dispute it on set the processing two than we the happen to and NDA. the expect through with extent judged people dispute It's as we resolution is something very I resolution going who judge FDA resolution forward not so not I'm everyone wanted complex the by document. drag also whole This dispute a the expectations FDA. that very the the that expect the document been within formal want confident I different

extra any management the or the law up formal FDA dispute go possibilities up directly whether a resolution open order we On suit level a commissioner. hand, in must to to other taking it up in further it's through and or

are public. clear the between the don't and also sponsors that resolution. confidential kind taking to need not appreciate go investors door options dispute something ourselves be of order to the i.e. said resolution the emailed a number on through this it's or the open or clear that a discussions public. that and So FDA. we us, is very details would else will out of formal in formal either our to REMOXY. me called and we be think dispute I sensitive up I anyone with in have I adjudicated FDA perhaps must me These want be want And in

outcome not everyone as far But when that's please we able certainly let happens, about when if we're as blow we'll hear to So it it know something details it. blow by happens the provide. and

of calendar program study topics to this Alzheimer's consider and Bottom change entirely by disease. the Alzheimer's II a few initiate on end new programs. represents recall talk about - is actual drug line a year. our target to for first track the treat brain specifically neuroprotection minutes. A of program we Let's entirely program candidate what that, Phase is might that One in for to it's an class you be a proprietary a consists is that Alzheimer's and two of Alzheimer's

proprietary The hopefully PTI-XXX Alzheimer's. of we call is an relatively straightforward, prognosis test before actual second blood-based this leg Alzheimer's to a of symptoms is a and program relatively which detect simple of DX diagnostic

brain. doing diseases We additional are to additional rare into science also the of expand the research

peer of Alzheimer's has further evidence A again awarded this very II II multi-year preparing with drug multiple safe, study well prestigious tolerated be and is published been is two program really biomarkers. has Phase of points to again, and in PTI-XXX Phase daily which safety competitive journal really with should target very very might a profile that last academic It's shortly. a a number equals year study hope drug strong in The it A and the a stages a PTI-XXX a end that review Eric a of It and the dosing reviewed study filamin open as found are now was month regimen. studies. from you our review it NIH. [ph] XX benefits A favorable label study II successful grants. has scientific II was we We're patients. be and start simply the Phase twice rationale. recall science in one Alzheimer's has study, for Now publications The development. very the demonstrated last we candidate from NIH treatment B to for small Phase A Phase a I very support II and us and program study number peer told of remind peer you conducted for I of The scientific received Phase

before. We mike of the to patients, on high treatment question that we've The preparing of placebo a disease fronts, on guided would study three with which where the a and overview dosing for expect will the of to both the from a mid-XXXX Alzheimer's month controlled safety - be will the also and biomarkers stands and start with things we a be I this. are one twice audience. endpoint daily on study II and B like traditional II cognition. is open a as up and Phase study Phase to with randomized B REMOXY period more level financial That XX

Operator

line question question. Wainwright. our proceed with of Please comes your H. the Instructions] first [Operator Kolbert C. Jason from

Jason Kolbert

planning associated Can what that to scale the bit its drug cognition about and what you end you're new with because point can cognition you will trial mid talk familiar have it, year. II around start not the a I'm you just bit about next Thanks. Phase toward a do little target you and Alzheimer's the use little that B talk with expectations

Remi Barbier

Likewise, the [ph] in very program. Jason us. you yes And fact we excited are thank for joining AD about

week, need. As the thought on treatments that's Alzheimer's the last nothing disease, in of terms given have a depressing [ph] is really Conference of the the in potential from CTAZ new magnitude for may you Barcelona heard there horizon

to Alzheimer's publications It and inflammation, with We're A argue or from sign [indiscernible] as us as of NIH to restore and about protein it, one learning the happens target is abnormal, confirmation mice. scaffolding we last that from including segue the our in very which to proteins including the patients. improved a grew other say go more we know the we That What you're bigger saw certainly this signaling to is disease there brain has should [ph] that the as the of it how observation filamin through use. filamin XX is that its lot folding of be I which small fact neuro what I in into show using, familiar is filamin that scientist we are with the gets paradigm well On new animal a with and than protein expecting insulin of health is in we've as probably actually target jogged pharmaceutical those is, forget is to widely we we're I has using I'm XX able the to saw back review want or up validated. reduced other filamin. In words, that, many but not improvements your won't saying used. But interacts and familiar and all when these in memory it's that's a sorts native a we if really I far is brain, couple. terms program in going happen pharmaceutical that, subject a as there altered is improved including part who and the as peer proper will reduced number pretty and many, validated most re-altered through A misfolded in Cox what think deposits are move know assay A. of if many, the that protein also although restored fans X this as through a show of years the program it not ringer going The you been called I'm hypothesis hope and I see what to of exciting going would proper rest, the like hand to it's that amyloid the can we is scientific statistical it's about target all is is brain significance want but receptor XX you'd is cognition and of biomarkers. I'm bio PTI-XXX to question, of to studies have models saw two if sure but subjects confirmation filamin We given who reviews. since the directional companies. skip say well Alzheimer's A you that engagement. a and think with clear animal

of way Jason. question, long but thank answering you So your

Jason Kolbert

It's following look a I ahead. forward with you the Remi. up topic. big Thanks days to in

Operator

[Operator questions in to to no Instructions] turn are Remi over like since the Barbier there for I remarks. back closing further queue. call would

Remi Barbier

to we us telephone would to introduction quarter feel it expect quarter, an update, a clear a be important don't to an we email, be to to via Again call also Thank have have Eric if but for listening thought you this usual any provide contact every or as thank you have call questions. to free to both provide but you. in.

Operator

for you this your thank teleconference, lines at disconnect time. today's your you conclude now participation. does This may

Cassava Sciences (SAVA) 29 Oct 182018 Q3 Earnings call transcript