AGEN - Earnings call transcript Q3 2021

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Operator

Good day and thank you for standing by. Welcome to the Agenus Third Quarter 2021 Financial Results Conference Call. [Operator Instructions] I would now like to hand the conference over to Divya Vasudevan. Thank you. Please go ahead.

Divya Vasudevan

thank for and us Timya you, you joining all today. Thank will is on being call be webcast Today’s replay. and available for our website like and our that statements, I’d as well commercial you will for timelines remind forward-looking data timelines include release plans this and including opportunities. development, clinical call regarding as regulatory partnership and statements to details statements our SEC to are refer we you subject These for to on more and risks. risks and uncertainties these filings

broadcast. is being recorded another As this audio reminder, call for

Dr. Chairman Armen, are Executive Chief Executive Jennifer President of Dr. today Agenus; O’Day, Dr. of Officer; me Joining of Vice Garo Officer and Chief Christine Officer Chief Buell, Klaskin, Medical Finance. and MiNK Steven Therapeutics;

this will to call over turn the Garo I progress the Garo? made year. highlight Now, to-date to we have

Garo Armen

much, all Thank your as Divya participation and as you in MiNK Therapeutics. and your thank interest for Agenus well you very

we previously, four As shared have pillars. business model of comprised is our

redefine primarily one, are. I pillars what four. discussion, four today’s three. and about two about for talk broad pillar I’ll make number will Now comments those some will pillar we And number

we in is of which value they first detail some be next we CTLA-Xinhibitor, certainly talk our And generation creators. generation and opportunities describe these AGENXXXX. example what as could significant. our pillar represent next about in our We one The primary believe compounds significant compounds will that, today is

MiNK by Therapeutics is pillar represented partner businesses, our and SaponiQx. programs launched including second The recently and affiliated

don’t our of things, accomplish pipeline are component, our fourth but much to vertically we is very capabilities vision zalifrelimab. by the it, including of it, just And by a silent in company, third patients pillar, commercial innovations I wouldn’t for The supportive the as including be is by without structures describe designed we have. integrated what prediction our we to our business, likely about is as our operational very of and programs, to response targeting our a our the bit. that respond manufacturing, balstilimab of pillar able we platform advancements mean therapy. development which technology, And to important we component a And comprised which kind as because talk represented supportive key facilitate will define who such and programs

Now, AGENXXXX. which call begin would driven I like the addressing by first to flagship our the program, pillar, by is

balstilimab. you SITC presentation over as coming This have Now, data in abstract publication SITC an this next-generation our with here. treatment patients a of to demonstrate our inhibitor, with will escalation monotherapy from resistant combination as I will first both summary we AGENXXXX a announced clinical AGENXXXX as X presented monotherapy we More treated morning, the of up. line cold study CTLA-X dose provide reported PD-Xinhibitor, CTLA-X is details in tumors with and a know, and in top the balstilimab. or inhibitor summarizing XXX be activity combination Friday.

been, have as shown and such they a Secondly, and I and and endometrial, balstilimab cold resistant AGENXXXX tumors, with across refractory in cervical PD-X activity in cancer. settings, responses cancer durable said, lung treatment colorectal, cancer. as pancreatic has compelling number relapsed melanoma, such as monotherapy clinical non-small-cell combination of And

to and durable balstilimab. with with XXXX to our will what deeper, available benefit broader it with development and molecules. so move for evidence clinic, profile to this it’s specific to designed share a favorable in that in today. responses more of patient of along additional the population of accelerate as far seeing relative first is and performance is to is the them alone CTLA-X immune O’Day are we expand more performing Dr. delivering Importantly, plans We that indicating than safety is therapies generation AGENXXXX Steven designed. a that combination Also, performance comments

I details of this Friday, until at XX. earlier, poster Conference, As the be this this full the November released SITC released will Friday not is mentioned

to I of model, and address pillar Next, like affiliates our programs. our our second would partner business recently which launched include

accomplishments is To start raised amongst regard successful the to our Therapeutics, As XX, these which of announced you of businesses. of pillar second million. our valuation $XXX launch October we at million IPO MiNK with with, know, $XX over the has on a

the of has which the IPOs performing the We the XX% closing MiNK are presented SITC Dr. of price about Jennifer week. been best CEO pleased be will we that MiNK rate where abstracts, this you more of Therapeutics three as programs having recently announced share a will appreciated Buell, MiNK preview of newly recently, appointed yesterday. tell one and at

categories. separately we working This SaponiQx. in on September, platform building manufacturing on our SaponiQx premise announced SaponiQx of in adjuvants. subsidiary launching the scalable following. vaccine integrated of and is four also business saponin-based in an different secure Now, model outline I based captured this the will is behind And

has for lasting is amplified because the production and by which long efficacy described reality, become as current need vaccines the pandemic. the offering efficient Firstly, needs the of

vaccines flagship for the is which complicated X hand, to this validated the this the is where from waning due and climate, the supply QS-XX QS-XX tree. X months responsible prediction in is process durability years we on Stimulon extensive by offered efficacy. the in in by adjuvant, Chilean other which and and SHINGRIX, the exceeding long-lasting been soapbark Secondly, current limited offers which has is know the But our extraction are on activity Stimulon, protection particularly – current X, SHINGRIX reliance after largely whereas a important

This And talk Biotech we viral for by of the scalable also culture saponin-based to which pairing. the to purposes what adjuvants with platform next developed So in adjuvant that. and for have optimized two Bioworks adjuvants adjuvants. are we plant we process, some of a relevant Stimulon Phyton to with antigen next and QS-XX infections. will manufacturing Among is generation next Ginkgo vaccine saponin-based and cell generation objectives we effective respiratory end, generation optimize mean our the important, because working this to establish particularly developing are very future, companies, is and formulations about our

Fc-enhanced part the this, past of dosed second partnerships. our and achievement million recently. our triggered driver to also a TIGIT BMS BMS to in Now, importantly, cancer. our October, with also patient future antibody, payment This high first is AGENXXXX, BMS-intensive such pillar indications the $XX bispecific In of in priority certainly from milestone non-small-cell licensed announced AGENXXXX lung and advanced as we addition

of prospects very excited the are We about AGENXXXX.

while CD-XXX AGENXXXX liver CD-XXX CD-XXX enhance activation. selectively Otherwise, clinical systemic is toxicity associated with stage, is It a it X-XBB well. immunity, the Our to clinical as past year It’s to agonist. molecule. as in which was designed that one known a differentiated heavily avoiding patients presented tumor this in data ASCO no issues AGENXXXX at pretreated tolerability, cancer We the of lead with been evidence stabilization CDXXXs. of showing prolonged good other has toxicity, with disease

this which Associated monotherapy year. with refractory been generation this of fact this that our is combination CTLA-X in of has trials And is with in setting. our with are we course this done melanoma the PD-X and AGENXXXX, next AGENXXXX, a course studying relapsed

patients. and dosed Nelum, study CTLA-X Another in with program hedgehog generation cancer chemotherapy which collaboration inhibitor first in our a of pancreatic the has patient first zalifrelimab line, our first involves combination Nelum’s recently clinical partner,

model and which is third third and Now, strategy. the next constitute programs our our our our pillar supportive is pillar, business they of

programs generation zalifrelimab, by what include balstilimab, Now, are blockbuster mean this? first which our antibody opportunities anybody. programs, do These supportive our Our we the PD-X not and for us. CTLA-X one represent do are

they company’s combination However, portfolio, agents or portfolio in represent important novel in agents other in with combination with other in opportunities. our

XX% what system much that the versus zalifrelimab and end, reported that more the the So, healthcare combinations, when in in portfolio combination of people patients. PD-X antibody, need is that and us, supportive PD-LX responses ask programs cancer that antibody? been developing but balstilimab needs we deliver It the world at a have doubling another of will PD-X does patients. of our near make year, economics we Among in reported antibody it, the we prudent need an world back ESMO extensive of our pembrolizumab the efficient, more job cervical a why responses, August lot another lot because has resulted easier, to agents and context was achievements at this and important isn’t of PD-X positive for in the to

Now, of let announcements for that developments our for portfolio touch made those of the implications some recent forward. upon company, potential me we going and our the

monotherapy As have balstilimab you approval may noticed, closing technicality withdraw we accelerated BLA due window to the with us. for the associated for recently a

associated the the the ahead the technicality approval followed of window FDA pembrolizumab of accelerated granted course, cancer, of which line second of closing months X cervical the the in full date. FDA goal Following approval

was withdrawal balstilimab’s is that to the fact BLA Now, performance. of note not related this

for milestones clinical and In fact, for predefined agent our this met indication, trial. exceeded this

arm PDL-X versus XX% XX% achieved label. showed of these agent are other numbers to it’s rates way to to reported in XX% types Our hoping we in compare around. with versus still response as XX% endpoints that but in single responses very very of we patients trials, pembrolizumab responses difficult other, trial the each And opposed positive much course,

completed approved very XXX that. is XXXX, date with we very organization our XX, which of for of Now, cited, three for no October we FDA and big a successfully also achievement are inspections company, our PDUFA proud our

pending access in by patients the balstilimab, perhaps several launch balstilimab planning benefit expanded the to U.S. associated programs countries, give access. the expanded regulatory we with process to demonstrated including Given are clinical doctors access and to

over As trial reduce $XXX years. a expenses million is also of result our discontinuation next by expected balstilimab of our product, confirmatory our R&D we which withdrawal, couple announced to over of BLA the

end million developments, programs our for year and execute to beyond. development the these we cash with $XXX with on combination to Now AGENXXXX expect approximately in

address to patients cervical certainly let for the us. two me other that enormous have the where in does substantial we of involved question, of balstilimab mentioned, here programs asked have amount in treated XXXX, impact XXX before we for over have And we Now, withdrew clear me it balstilimab, of BLA going in impact questions does as also that address the fact forward, I a frequently information I let balstilimab, is pause that been but and balstilimab. patients, Now, activity it? One number our answer fact cancer, treated that with that plus amassed safety shown development we that an example, put balstilimab indications.

active we antibody. have PD-X highly a So,

next the will We how the of this shows it. affect as PDL-X, efficacy to to as use the combinations? of forward I safety the regard data with data are antibody certainly our the going going withdrawal activity BLA PD-X of steps Now, that mean with well or

combinations. to our do we stage, combinations. forward not And for development going do hurdle in given going designed be this way we at this the use expect are justification our trials, a expeditious this we of – not We our have of expect to

one. number that’s So,

we gets has going forward, that that compounds that’s question think asked question FDA make high forward? balstilimab, having the hope alone withdraw not FDA that are to case, requested so. Well, XXXX our which compounds we is second in do, And what that BLA, provided because with that’s we we The us which activity by combination show like to if show certainly we as, we difficult to lives and we our with activity. don’t of provided with certainly blacklisted the now, the expect a going happened profound such going the

Of to expeditious to questioned. access an to course, bring way would in patients the of to have in stuck anyone be get approval

what for of pristine with agents with that or fashion reasons associated portfolio proceeding honorable matter, not generated could said data reaching the But in of that will do for and we having all have that our plan that we we novel us be company will steps next agency that, blacklist a So, any expect patients. on to that our relate other experienced. justify

the will today our to shared that, of more clinical And Steven with with have be So AGENXXXX SITC that remind data. in to Medical turn now the I Officer, O’Day call on there to abstract. like our Friday, our more release Chief just discuss to would poster the Dr. will over that you associated update details

confidentiality the will hold the of Steven? respect today we on rules. So, the details SITC with some back to

Steven O’Day

with or this shared high as their lines we to makes therapy, refractory first three well-tolerated meaningful treated based generation of at balstilimab. Today, CTLA-X dose and with a Thank patient more for escalation were AGENXXXX setting. poorly hypophysitis, was observed you, This including was encouraging. therapy of presentation combination even you AGENXXXX know hepatitis, or Garo therapies. prior received from joining thank which combination in pneumonitis range clinically of patients morning. anti-PD-X us grade heavily of with may response and in of therapies. Half with patients PD-X and The and across population monotherapy these are monotherapy cases of Both no study all with over clinical the data least efficacious balstilimab AGENXXXX XXX as combination toxicities including first you immunogenic tumors tumor a cold monotherapy types, and pretreated.

We our combination in Phase and AGENXXXX monotherapy established for have recommended X without dosing balstilimab.

response in date, our first a patient pancreatic stable knowledge, partial following to in of single was a partial and PD-X CTLA-X complete As we confirmed XX anti include responses therapy. cutoff which failure cancer observed the a a reports disease response settings. in cervical microsatellite of abstract these response To XXXX, the to monotherapy these specific These with cancer endometrial agents, are AGENXXXX. of in X cancer, response July

prior failed Our therapy. fourth in a anti PD-X response was with melanoma with patient

tumors. AGENXXXX least colorectal treated with XX disease across with X rate per stable kilo multiple milligram immunogenic X XX%. observed We poorly observed of balstilimab four we partial of MS evaluable significant cases combination stable cold or at of of of AGENXXXX, also responses control Among disease the benefit and patients

Among has unmet a is to patients this three this need. disease. colorectal partial ovarian in AGENXXXX at cases cancer. anti-CTLA-X perspective, two or alone responses milligram inhibitors in stable trials have combination we efficacy in to-date X observed that and demonstrated to of stable to no in generation least activity potential highlights of first The high that Just X demonstrated anti-CTLA-X we PD-X MS meaningful multiple AGENXXXX, limited with and differentiated have of this setting evaluable cancer receiving address put

combination, MS also in therapy. of the clinical partial our other responses patients including to activity cancer We tumors with who were GYN endometrial both with observed stable combination treated

the therapy. data subtype durable including lung partial non-small-cell demonstrated the and patient and to-date XXXX accrual X/X important signal malignancies. activity to randomized in and SITC for XX, responders, of Phase will anti-tumor at in Phase and thus combination stable anticipate of who the a one ongoing. additional safety and based support development in these call a data. resistant far, historically potential like filing trials poster are are and benefit of failed Therapeutics. Executive checkpoint two I of I you that to cutoff these visceral on included will GYN outcomes a turn Chief for trials MiNK patient and angiosarcoma, Officer follow-up MS full in additional September with angiosarcoma Buell, presentation and/or colorectal, week, We majority therapy X want studies. cancer the would strengthen to our remind efficacy across The now over responses inhibition exciting active clinical magnitude accelerated in demonstrated be the response this demonstrated of on Based approval on partial the prior had to responses Dr. Finally, PD-X Jennifer

Jennifer Buell

to conference but our presented MiNK, am data course, been congratulations that’s going posters. now, abstracts some highlight an updates Thank will as coming the you I Agenus exciting and on be us fully the This out much, have very at of Dr. at the well released, as data will upcoming be more O’Day in which results. for those of

pipelines. the MiNK, financing, to create to and development just remind teams independent a launching companies of as focus collective separate turning public two and innovative want to their you accelerate entity Therapeutics our So, independent goals streamlines to with in enabled a MiNK and way us operations, patient-focused I of

green be mentioned, stage and raised then So was also rapidly at those shoe proceeds our which we our executed clinical advancing and offering to-date public most as we $XX Garo recently million and initial portfolio. with will actually of which includes IPO million point, $XX launched the the

from upon us that to T-cells that T-cells efficacy cell What and functions limited to And best-in-class shown of invariant And can challenges. to-date to of or we informed that the killer to-date, toxicity from tumor we other the cells. and is cytokine of our allogeneic natural capability safety clinical rapid more is of dosed properties. the have tumors believe cells compared cells. that some no very have to – a or to these recent therapy of potential that we these naturally can have tumors. iNKT expand Now, observed the observed And cells a solid iNKT infection. NK confirms And observed approach. represent proliferate cells consistent enables iNKTs Early advantage ability naturally important durable data be is tell what to cells the we approaches translocation no therapy with tumor-homing the course clinical have iNKTs with peripheral the critical cell you site publicly interest. solid blood that also benefit also is we size and I of of is cells this and home believe the the or penetrate release to syndrome the billion benefit trials a neurotoxicity this benefit

posters will these anti-tumor anti-tumor as persistence evidence of Our mitigating cell and period similar well measurement the trials. of preclinical cells present of our see somehow activity clinical We in ongoing the disease time beyond activity, as our iNKT SITC from settings. benefit

have presentations, data be in solid which vivo We our poster activity and both be SITC iNKTs and observed will November in published XX. infiltration great in tumor detail models. of discussed on These in will anti-tumor hematologic

iNKTs own approaches, as researchers iNKTs approaches. We engineered been engineering T-cell believe as hands CAR well platform, has cells. our characterizing And data will which be We of will at can of on CAR potential presenting also the anti-tumor iNKT BCMA-CAR-iNKT. present or therapeutic in we data SITC, tumor-killing other independent that further the our cells discovery that our other proprietary outperforms boost activity by iNKT published

suite advance including so the as I’d that, like to to to the So our we balstilimab pipeline excited powerful With Christine as turn Agenus. the iNKT-based well AGENXXXX, call over therapeutic to with are agents, develop financials together, regimens. a with for discuss Klaskin of combinations Agenus’ ability to

Christine Klaskin

the of and XXXX. cash a third Thank you, to short-term with $XXX at million investment XXXX We as compared balance XX, Jen. ended December quarter $XXX million of

our the in and and in $X.XX per reported the we or to $XX share provided ended loss $XXX XXXX and used net a $XX million of a quarter $X.XX share operations million same XXXX, by for per $X.XX share compares basic This of million September and income cash For operations or was $XXX basic diluted. per cash third net of diluted. million period

provided with to license or cash ended recognized through XXXX million months period the compared net were to ended September $XX same the of X share $XX for $XXX for period XXXX This the We months I per million used the of for million, operations income recognized back of our year revenue cash million of earned, XXXX. XXXX or $X.XX to million in September received, under was loss same call and $XX ended fees compares September by and operating $X.XX X agreements. like Revenue Our basic collaboration a would Garo. revenue and non-cash $XX and share $XX the basic last months $XXX turn and for per X to XXXX. for operations million share net million includes September upfront diluted. now milestones million $X.XX Non-cash $XXX diluted. of per expenses the royalties,

Garo Armen

Therapeutics your I also us all this would MiNK thank and interest thank Agenus my during this statements for and joining like for to you morning. call their colleagues in and

of value clinic expect do next into to Looking And driving events a talk our clinical we our into expect own preclinical achieve with about preclinical to beyond take pipeline. and the we XXXX, over and we discoveries the pipeline, number months. into when the quarter current

endometrial trials the have ovarian of of in AGENXXXX And that be we we beyond Friday something will this a the we our and certain expect Steven very that development cancer, Dr. we of on. that responses cutoff to at which that released are is focused and by morning. some accelerating balstilimab cancers have X/X of – are cancer SITC, launching develop date. with even but much colorectal will very not in course Firstly, it responses beyond this are responses Phase disclosed as encouraged at We which this date, details cutoff week. meeting additional you this already And these mentioned, rate see do seen

combination a or melanoma our initiating this CDXXX with AGENXXXX Secondly, agonist study in year. active conditionally

Phase this and as to advancing Third, mentioned. studies with BMS, TIGIT program, in very our is X have we bispecific collaboration a exciting

include a Fourthly, of through our First, clinical in strategy several update SITC Building Jen QS-XX a saponin-based are at and cell standard we and immune adjuvants Stimulon through with access allogeneic combination a diseases as week. advancing for regarding adjuvants, supply of this an line beyond will proprietary mentioned, therapies, sustainable for cervical convinced update mediated updates zalifrelimab patients our appropriate data have already. in iNKT SaponiQx. balstilimab that balstilimab, the And development Launching that. providing programs cancer. cancer MiNK Therapeutics second

products filings make supply chain are on to deliver will much reliant dependence facility streamlined. access patient next rational are a this its intelligence trials. that novel program requests, I selection undertake of to a capacity ability thank mentioned, And constraints advance in commercial undertaking of very integrated And attention. planned discovery provide your XXXX. on third-parties, commonly again, make terms our Continuing of our And very support been for responsibility integration beyond without have of And we very products our in it issues. practiced today’s including of biomarkers from number manufacturing to with programs construction once new you what our for combinations, is us, and today. to with make Emeryville, sure is facility, platform particularly important fully targets, of active going a in is which treatment California. to addictive is in And for because self just Agenus as significant IND because this progressing drug important VISION it lastly, to and IND important environment in that we seriously, Now, engaged have early course, to is the that we that who had the physicians, have our our moral

it now for open will questions. We up

Operator

of Instructions] Mayank from line [Operator Riley with the comes question B. Mamtani first Securities. Your

Mayank Mamtani

Good fronts. the on our for morning team. Congrats on taking multiple thanks And progress questions.

abstract So, the start at maybe just I have. data with questions SITC, if of couple XXXX a I quick can

seeing? on you Could to where with follow-up an are response seeing on terms XX% we are that update the PR, also have unconfirmed in patients, in be the cell the just just on these refractory baseline it understand lung characteristics the So, here? patients in trying ORR helpful durability understand and and And cancer then enrolled? MSS median just we the cohort patient on depth give we to you are CRC PD-X have would non-small cancer, of also how of lung many already you

Garo Armen

Okay.

with pleased optimized In answer O’Day not we trial, even where very certainly, And doses. then provide we necessarily the though a were dose we used Dr. to of such I are through color. against responses doses would let response are are a course, the we So, rates, the have the caution in gone seeing escalation process. beginning ask more going me assigning question to broadly.

denominator So, to this trial. is and take not the numerator the probably in an rates matching depiction the accurate this and response of mixing and

biomarkers. of Now, are of engaged in to science other and Agenus, dissect based the that bunch because that, here at on whole certain we a of the in addition cohorts, in predictive patient profiles we course, high terms really of

patient so more is and our forward criteria much And be precise X into to going Phase going selection trials. X

Mayank’s address could question? Steven, So with if that you

Steven O’Day

for Garo. you, question. you Thank Thank the Yes.

this And and on the the are on was what which for that we July obviously is the we of poster, Friday discussing, sorry, delivered in poster. will the to the unconfirmed will be cutoff cutoff can September. Friday we think be responses I confirmed updating abstract say for the follow-up and that

wait the the obviously and further you responses. I you of But in development follow-up think both terms will I the data. confirmation of with the we on see and patients the of think follow-up should So, share further

Mayank Mamtani

I second what Nelum. was doing sort understood. work then bucket around, of And my with question you are of

Garo, signal bigger I backbone you has might first where but to here. maybe two agents the broadly are and not am pancreatic gen gen you And XXXX prosecute a to within pharma that CTLA-X companies sort with look thinking given thoughts of therapy cancer focused seeing your other hear broadly CTLA-X also hedgehog, aspects at indications in with PR have, our be you know, IO franchise as a a you curious targeted about, Agenus next But certain also portfolio. try on

So, should we about think how that?

Garo Armen

repeat last can the point, you think because are the about the you when mean you large trying portfolio? do point you should how that? make, it by that of if So, companies in to Mayank, What a we say context

Mayank Mamtani

Yes.

making for For with having big access I priority this kind instance, of part, therapy you. is become OBGYN instance. make another a for targeted a up, am just could an a to or to CTLA-X, sense combining

IO standpoint? how value here, So, XXXX with an of also be player will the might importance of you thinking up partnering from a bigger player given the bigger

Garo Armen

Right.

very good. So,

clear. Now, it’s

our of comparing here. immunooncology we we can expensive companies, points to very our of disposal, in one large So, in have armamentarium one, here, couple do inventions. Number we have advantages of a are a what these at terms is, several agents

That’s one. technology number to us, in Number as patient selection. be such a and and is us. tool for relatively responses which mixing VISION, matching two, have we of a is predictive So, important straightforward terms them for its combining of ability very and

I identifying in Now, but going we agnostic we could okay. that are all advances heading be or to not be to indications, think striving biomarkers direction. as quite mean, patient there it means yet That’s that that specific markers now, what VISION to does that are

very such example, that big would Merck, So, in it like companies, envision is can our regardless as overall the how we about for globally. about now? do things I and capabilities that, because specifically. said and but partnering are resource we of strategy, what them crude therapies past patients about what future that, in have constraints they about much license last a to your we done money, constraints, thinking we it we talk and matching not While in selecting at indication, just to Having said about the question, they opted such address fashion. are we do talking as of when that reach. Because done We have similar have more resource to go talking to AGENXXXX our global is of

forward, would for going of rights. a logical that forward the about geographic the have saying segregation AGENXXXX Now, be we path us statements made

example, will rights, rights, ex-U.S. that. will license for So U.S. keep we and we

appropriate a carved partner a an prospective Now it’s with geographies or may do in product. with of out the context global of co-development that plausible program, for these a very, very we a launch development commercial collaborator

as the of we I future would a deals. then with taking commercial coming products performance Does question? bigger global and years even launches, put over substantial of collaboration our that reach of our us answer see for into earned resources your into and share So venturing course, place the the

Mayank Mamtani

up think the Yes, needs of different I then might if given scale that was than colleagues. partnerships before Thank Remind be of you. squeeze the had can capital with should it are different terms the SaponiQx, and what experience but pro I and considerations in very iNKT, another forma how also helpful, pass And have in very iNKT? ownership And you us on my in of Garo. one iNKT. to we

Garo Armen

I address then Buell will and to I Sure, ask back Dr. the will SaponiQx. question, come iNKT

Jennifer Buell

Sure.

is So its that XX%. have you iNKT to access XX%, Mayank, is what Agenus ownership of MiNK have under now we just the the

Garo Armen

Okay.

therapeutics. to iNKT, the footsteps you Now, could as much main assume pretty our follow as SaponiQx is concerned. far of SaponiQx,

new vaccine we after of three that for they And SaponiQx of they protection. highly thing for know has long-lasting efficacious, formed forever I on wanes is prospects months vaccine. three highly for said one is sure have vaccines, six the be as be how though But potential based hope articulated appropriate of And that efficacious to every months, are their needs that recently, variants, even efficacious. that we the long-term of will will six is shot don’t for efficacy know way strategizing we I one for months, booster the an not effective an that current months, course, they example, of a sure. limitations earlier, we So,

is And But thing it thing now QS-XX Stimulon cannot appropriate mean, that being that immunity, offer not individuals with the morally of data of of beyond be other the having I SHINGRIX. can, us course. of in long-lasting that only context protection, to Stimulon. able of to limited. companies So, collaborate have it It’s do to I critically can, benefiting are shown lasting immunity to immunity And the billions we production we and that longer possible of scientifically quantity it potential at QS-XX could doses characteristics mucosal we challenge right of say, or very limitation have with of is to to to healthy We number nasal speed high number the – that important. an offer Stimulon sprint patients hence, is of – QS-XX manufacture pipe what important do so governments with that should can need for benefit limited towards us get adjuvants the other that to are take and right the limitation, are process. this engineering a QS-XX

Mayank Mamtani

again our Very questions. for helpful. Thanks taking

Garo Armen

Thank you.

Operator

question comes Jefferies. next from the Kelly line of Shi with Your

Jason Bouvier

our on taking This Shi. Thank good for for the again congratulations you Hi, XXXX Kelly Bouvier and call data. Jason on morning. is

lot. anticipate And on do of previous higher going forward? question then need a one the when combo can expect we to in you of path call, outcome timing have cervical, like discuss learn on to FDA. conversation? you a the Just path that maybe about that forward And with what on the provide Can do any possible meeting? the a you you mentioned looking Thanks resolution the Bal/Za any – you

Garo Armen

Okay.

clear we data be, next whether there not the steps will by this it’s entirely will will the some what that will year. additional next end inform have of yet. be points us steps So But

Jason Bouvier

Thank great. you. Okay,

Operator

the line next question from Your Matt William Blair. of comes Phipps with

Matt Phipps

I at looking we the on wondered guess a Good wondering one, morning. year. combination, on if for you any And Thanks for on Friday XXXX, based last this disclosure, thinking taking about I thing O’Day, comments questions. but endometrial if been trials, the realized landscape. I with Congrats was any probably one – update of kind have seen could X/X update. on lot I then my were as these Dr. for Phase anymore we colitis thoughts the of

setting. one the MSS year therapy approvals We then this for have [indiscernible] had in monotherapy for and setting regimens dMMR two

endometrial, just or where one if of X I any you So, insight X/X, going pathways? you can am the mentioned thinking any you And then are Phase kind that’s curious accelerated of on of assuming Phase gynecological give us cancers. potentially these of

Garo Armen

Matt, thank you for these questions.

Let O’Day Dr. me answer. just guide you of broadly course, then, and will

one moves clinical are what monotherapy another our competitive and important course, for issues Bal design, details with company’s decision made next timelines of we of strategic competitive products. highlights of process, because FDA of discuss not our product a reviewing regard important and is consideration reasons. happened how to with approval course, trials how are company’s versus So, I mean competitive to the – have

so discussed to any Steven, will indulge of bit free a to that’s detail this be of are little much be internally. we have to how at And provide. we guarded feel point. this detail why have determined in And terms kind we in that going we disclosed But publicly

Steven O’Day

Yes. Thanks, Matt.

about on that, we development, we malignancies say, these In further. very are endometrial more about think we these the and to plan that I trials have rational the in spoken needless had it. and terms about to to launching very around GYN ovarian Garo and disclose a data of trials come and excited Obviously, leadership and But forward. have excited to-date KOLs are

is are are or and I In know first hepatitis, relevant, the clinically chronic as CTLA-X. pneumonitis think lack is of you what grade toxicities the really terms life of potentially which of to-date hepatitis, toxicity, high obviously, threatening remarkable generation

So, patients XXX different this we really treated. over as with see

feel now. And about. we follow-up. will programs colitis, to strategies on But which safety patients to comparable and with will that that further, first cross-trial good I mitigate to our abstract you X as the agents. certainly it difficult is the generation we first updated or Phase that the getting, right colitis range in the very Friday certainly appears But be in we it’s of have follow-up sense refer confident are in colitis we There generation. be In with excited same terms of the about are further very comparisons

what with flyers I about So, that’s can more data, to-date. safety say to a come but follow-up

Matt Phipps

Thank you. Okay.

Operator

questions. to management closing turn like the At further for remarks. back over would no this time, call I to there are

Garo Armen

Thank you everybody. very much for

forward feel had quite your have we to a free you engagement, cold look extensive to additional I connect Please questions. an think and again. we with Thank us.

Operator

today’s gentlemen, participating. you and call. conference concludes Thank this Ladies for

now disconnect. You may

Agenus (AGEN) 9 Nov 212021 Q3 Earnings call transcript