ONCY - Earnings call transcript Q4 2020

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Operator

Good morning and welcome to Oncolytics Biotech’s Fourth Quarter and Full Year 2020 Conference Call. All participants are in a listen-only mode. There will be a question-and-answer session at the end of this call. Please be advised that this call is being recorded at the Company’s request. I would now like to turn the call over to Jon Patton, Director of Investor Relations and Communication. ahead. go Please

Jon Patton

and for Good fourth operator. Earlier XXXX. and to of financial from welcome Oncolytics after hours quarter call the Thank will full and and afternoon, full Biotech’s results providing open its release After quarter a call. remarks today’s year updates year management, Oncolytics for issued fourth you, press everyone, corporate XXXX be Events we the the today, two on A website section Presentations approximately replay Company will and of call available Q&A. the Oncolytics completion. conference

a reminder, strategy made Company’s as anticipated certain business of a design, objectives, as belief and regarding of potential this the forward-looking development the aims and and call statements and or but commercialization the mode these actions or pelareorep Company’s are As the except contain of various the SEDAR or of results, faith remarks and related action materially the prospects, pelareorep, that be expectations Company’s assurance are factors future basis, or laws. a update to known to subject cause belief based risks, Company statements. does in by focus, risks as or number as expectation required clinical trials SEC. expectations and the regulatory and not actual unknown Oncolytics trials, any performance and statements to with applicable are on expectations of beliefs that clinical and undertake are be believed not benefits filings protection, beliefs These uncertainties pending forward-looking therapeutic, factors or Company’s implied the relating in current cancer can including belief to be during to the such of which with factors pending which forward-looking an any statement and under of have and expectation other performance achieved. and by Company’s good other other expresses management’s statements detailed factors statements delays, associated developments reasonable will or to different results, in intellectual from in to financial control there by Company’s These obligation achievements results property no statements and current In agencies the forward-looking projections, current include business. expressed the Company’s statement, involve anticipated or those Oncolytics results, to a may the these the

Matt President Officer Now, I will Dr. Coffey, Matt? to Executive of and Oncolytics Chief turn Biotech. the over call

Dr. Matt Coffey

all Thanks, on year discuss corporate Jon. listening full update. the to call And to thanks XXXX us for our joining today

to expand oncolytic the our Development; key of pandemic markets Jon, of by prevalent to successfully wrapped generated corporate navigate registrational joined the We multiple program initiation variety Financial up pelareorep’s to milestones. unique challenges de and Kirk of one Head a here Look team Global lead able at potential our or Oncolytics, Chief Guttadauro, studies years and addition achieve as the I’m opportunities highly cancer of recently breast milestones our In validated immunotherapy virus Andrew Officer. our Business approach, have towards was These advanced our and into clinical strongest the indications. to

are we believe we ahead, a Looking poised XXXX. for catalyst-rich

across demonstrates and unmet pelareorep’s needs robust potential multiple year a indications. We’re to talented address clinical set industry-leading with beginning data collaborators the team, a that

in up revisit for that highlights of success set us I’d these the how us like come. have this some to brought to year and point Now, to these highlights

we percentage are available currently registrational unmet of Our breast in conducting study are continues this for cancer. primary AWARE-X advancement virus in significant survival the are immuno-oncolytic meaningful towards clinical substantial this a exists metastatic produce to A delivered need, of focus be trials. a indication, therapies intravenously our advantage BRACELET-X need and a address to unable many HR+/HERX- pelareorep, patients. as To

response the they’re IND-XXX; our pelareorep’s know, blood-based finally, programs to these to aim validate the Second, and three reinforce T promising evaluate utility to of program, ability support clinical biomarker they novel treatment metastatic outcomes. our clinical of showed pelareorep of upon breast enhance objectives: pelareorep’s mechanism action datasets determine in design efficacy therapies. potential survival of patients to aim patient many these and the X and cancer. patient a with First, overall the the aim BRACELET-X Phase As immunotherapeutic which with survival to of supporting trials of robust designed mechanism near preclinical results X in of build discuss there’s pelareorep our checkpoint inhibitors And you of to cancer synergistic a and benefit combination I’ll pelareorep; of clonality doubling predict inhibitor growing checkpoint to measuring cell the study moment, prior AWARE-X the improve IND-XXX, confirm achieve HR+/HERX- a registration Phase To breast key to to

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some revisit generated the and Now, bit breast cancer clinical data early of program. we’ve shift I’d like to gears a beyond

discussed Over immunotherapeutic applicability announcing we of our key made in of indications across the lot these prior of year, a the mechanism past on action. that pelareorep’s I’ve stride a variety calls. pipeline, clinical broad highlight of data data

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for of clinical our over to breast, coming and highlighted continue opportunity GI ReoGlio will execution that will that hematological we pelareorep prioritize data We the carefully We cancer programs. the milestones evaluate intriguing in months. believe an

Vile or with Vile a inhibitors a to pelareorep of preclinical last And Dr. evaluated quarter tumor cell immunomodulatory to synergies tumor colleagues Dr. is, preclinical about previewed saw very question therapy. observed mirroring model. data and out begun as synergistically I earlier, fourth To some year. came pelareorep recently also question we and question, other this Immunology, solid effects joined Board therapy model in beyond with combine CAR-T a potential and these viruses answer expert of key Richard cell in the Mayo of in studies the the checkpoint Clinic pelareorep AWARE-X of in checkpoint agents therapy world-renowned his from and evaluate immunotherapeutic as address These opinion combination who pelareorep CAR-T inhibitors. data Now, cell in Vile, our Advisory Dr. critical studies, clinical position do Through such lab pelareorep. leader the between solid has Professor to and oncolytic interesting a Scientific the adoptive that T

and immunosuppressant solid combine the cells directly founded, the The enable well their have CAR-T CAR-T cancers, pelareorep’s showed successful against microenvironment. against tumors ability exhaustion microenvironments despite this preclinical data preclinical study model. due been rationale exclusion. T that to promote and tumors demonstrated solid synergistically have tumors, not was that in was reverse cell for scientific T immunosuppressive and as their to Now, the rationale demonstrated AWARE-X to This this they solid with recruit and to success results therapies success hematological ability historically from cell pelareorep��s study tumor as

inhibition enhanced The with later results translation with the improve to start by tumor cells in and pelareorep boost loaded would results as vastly mice intravenous cells, with pelareorep boost, a efficacy intravenous broaden These contrast studies, the highly highly CAR-T led a virus, loading prevalent would persistence CAR-T prevent VSV and of major mice efficacy of these cures. pelareorep the it of pelareorep growth. synergistic cells showed of to the Ultimately, their be the applicability which an therapy did following the solid pelareorep appear to growth oncolytic further variety to difficult-to-treat into to CAR-T and recurrent then Specifically, tumor cells. recurrent effects was ultimately specific eight-day that of CAR-T persistent prior tumor clinic treating an generation substantially showing VSC weakened that represent CAR-T to of CAR-T successful as tumor cells accomplishment and indications. not actually

programs. additional as pathway and to responsibility lead this its to while payments. to We it. Through our the to the development inherent to are now clinically partners Andrew hand minimize a of partnership pelareorep immune tumors. stand assume effector take ability with our of royalty call further With drive advantages associated I’ll benefit and and the call that cell identify robust retaining the off the development in we enabling on cells solid advancement to BD strategy that, milestones are we recruit CAR-T form an upfront, now will that data and to demonstrated pipeline upside pela efforts goal costs our this is immunotherapies specifically strategy, Andrew? how for technology clinical risk research aim of leveraging and from pursuing our It to set about and to

Andrew de Guttadauro

Thanks, Matt.

past, As opportunity. goal its clinical we said both our global partnership commercialization maximize is pelareorep’s and facilitate commercial to to in secure the approval

done bolstered, advantages And first, improving viruses. J&J. the are and oncolytic biotech set; as companies by checkpoint pelareorep’s of This by inherent them Our with pairing finally, clinical robust and Merck, data deals pelareorep’s demonstrated efforts efficacy there inhibitors viruses. with to goal other oncolytic through and achieve companies, this over BMS are pharma several is such second,

tumors. this two one or has by These is at advantages cannot selectively requires replicate reach of metastatic the oncolytic industry metastatic we substantial to three, have pharma following clinically partnerships In the on I preceded earlier, call, of procedures fostering combinations. characteristics. X/X highlighted companies these handling this has the in which of with intratumoral with with executed and a offer collaborations XXXX, virus partnerships, already we they IRENE level inside other pursuit They development disease. staff, are and demonstrated in pursue deals collaborations part with both as the of on last one leaders. speak therefore, point leaders biosafety points mentioned classification Now, other either feasibility Roche since designed been track two we systemically and to trials. the typically least special due local handling Almost industry oncolytic success characteristics no to briefly successfully of viruses in about evaluate one. nursing the potential require over require competitive often and I’d X Phase all has delivery initial and, been by administered have to us In procedures approach hand, our GOBLET Phase those like rate based and following large off that Pelareorep, of starting X approach, special other Matt

in efficacy demonstrate therapies. contingent approval applicability While of and these GI indications, in ultimately pela’s market checkpoint microenvironments, is inhibitor cancer on minimum the and these parallels expected breast approximately several triple-negative commercially not respectively, checkpoint of tumor of GI seen between broad triple-negative limit patients. and many Low XX% by tumor are immunosuppressive of a inhibitors been whole trials GI checkpoint the cancer, inhibitors XXXX. these expression cancer cancer PD-LX reach PD-LX breast low with that breast expression responding only triple-negative both and there as successful about rates, levels trials cancers, billion these indications levels target In the mechanism worldwide these patients to Despite XX% that of action. have $XX in the to checkpoint response with two inhibitor

the administration pelareorep’s therapy. and opportunity facilitated of number their data by exciting trials. there’s and It patients help are companies increasing opportunity to respond synergy ultimately we route was pelareorep that earlier, an IRENE the collaborative growth checkpoint extensive intravenous to checkpoint of for Matt who Given the eligible for believe and mentioned this accelerate GOBLET

patients, patients in insights, Tecentriq earlier. they clonality trials Notably, X/X expected BMS, retifanlimab expected mentioned GOBLET metastatic study pancreatic, our are initiation IRENE and reminder, cancers. of PD-LX progress a checkpoint Roche’s myeloma advanced Phase the CEACAMX are anti the evaluate in look of anti development successfully we while latest colorectal triple-negative in the over inhibitor, metastatic data Matt X the year a in trials how BRACELET cell in also forward continued biomarkers in IRENE these collectively business a and with of these combination of Phase patients. utility of combination update As laid pela temple dosing an the study pelareorep PD-X evaluating first in study fourth just of anal trials multiple pela to cancer the half executing the follow interim T We the and as breast the Opdivo evaluating with year, combination our examples checkpoint from will ongoing with GOBLET strategy next out with GOBLET and in therapy evaluating quarter. inhibitor, is safety is the a and Together, IRENE

these Looking particularly forward, our be progression in studies, primary clinical those of focus. cancer, the breast will

inhibitor upregulate potential pelareorep’s ability combinations. solid also tumors we T expands and high However, business demonstrated recruit PD-LX beyond its expression that just concentration and clinically checkpoint recognize partnership cell to development

mentioned we synergistic additional immunotherapeutic suggesting pursuing findings. extended As partnership based seen agents, earlier, that already strategy can exciting and on preclinical be benefits data these Matt a we are have pelareorep to

development advantage by for cell This an spearhead to that our focus particularly immune and require resources that, optimal tumors. We study, is CAR-T our to an do over preserves on to I’ll as to current strategy discuss As to the financial with pelareorep’s immunotherapeutic of a quarter clinical XXXX. the focus. partners other for agents variety fourth inhibitor we potential this our us our the inside aim PD-LX centered risk-benefit results advancing to combine immunotherapies high-quality way allow as a call are take primary synergistically and cells our balance in year technology that to pelareorep’s breast additional turn cancer. beyond, infiltration relying CFO, XXXX and enabling this full on progress achieve through and we committed development in executing With class that Kirk checkpoint of Look, we Kirk? solid will

Kirk Look

Thanks, Andrew. to the I’m development everyone. Good Oncolytics morning, foundation a pleased advancing able and XXXX, to in maintain while financial report, strong establish was of pelareorep.

Our cash million and we’ve at-the-market cash equivalents our at building of of from XXXX $XX.X improved in to to the part the over continue report our end the raised at position, having $XX I’m $XX.X of first to facility million end happy been million XXXX. also on compared XXXX. financial today, to able

of and $XX runway our the equivalents second financial are now cash half million, now our well Importantly, extends approximately cash XXXX. today, into as and of

quarter relatively Our with $X.X XXXX’s quarter fourth $X expenses XXXX operating remaining million. expenses for of were million, of the consistent fourth

business premiums, professional our for XXXX, $XX.X full year. relations last expenses million due year XXXX. increased $X.X were development to fourth quarter million associated to the and is activities same XXXX Research for and This full investor for $X.X million largely expenses development compared and to were the of and insurance the officers expenses. year period compared For the $X.X operating increased million directors change

quarter our our current For year XXXX, were to studies, changes compared year study. to we program. our $XX.X In the XXXX, also progressing the R&D addition and activities to in expenses full trial began million R&D full $XX.X to for clinical AWARE-X related better full GOBLET In initiation XXXX, made million our to XXXX. development the personnel also support BRACELET-X year and we

compared net quarter in of loss quarter the of share to net loss for loss loss With per XXXX, a of the consolidated the full a a was net per to XXXX net XXXX share XXXX, the The of Matt. the that, net year XXXX $X.XX period fourth for full XXXX year compared the $X.XX net XXXX a to hand and million consolidated to in for of to period equating $XX.X million a basis. finally, $XX.X on XXXX for back of the share million per $X.X basis. I’ll Now period loss loss per a $XX.X it $X.XX on and equating million fourth for share for $X.XX was

Dr. Matt Coffey

Thank you, Kirk.

Before are the year. achieved to dedicated Q&A, we just to employees Thanks and across to a I data illustrate our data hard Together, pelareorep’s of testament pipeline. is clinical partners. it leave these generated we and we’ve last of their team have an move want truly extraordinarily we’ve to benefits. poised work, effects note wide-ranging It how on all to what talented incredibly immunotherapeutic proud clinical over strong how

deliver turn, stakeholders. simultaneously On additional industry the that metastatic lead while on commercial registration our cancer towards steadily in value we breast executing progress our these our strength a partnerships, additional which to data, continue execution program of fosters to study in HR+/HERX- studies pelareorep’s broadened This opportunity.

Looking advance development. will we ahead, data-driven to as be we pelareorep’s continue

be value milestones prioritizing partners our where in additional to will stated clinical approach, our strategic while generate selectively We execution engaging arrive. of the opportunities

generate continue improve we value like value-creating our achieving importantly, beyond for to most the patients. the Operator? I’d take and milestones With to a to We cadence expect throughout work as open of XXXX that, and lines shareholders to now lives some steady of questions.

Operator

[Operator comes Ladenburg. Instructions] Wangzhi Li Your from from first question

next on out The from open. Your is comes of Wangzhi, Patrick mute? Wainwright. queue. from himself line H.C. He has taken question are Trucchio you

is Your line open.

Patrick Trucchio

therapy. efficacy the showed and cell of morning. persistence have follow-up vastly Good I CAR-T a that pela improved study Clinic Mayo on

positive data frame virus? with generated if the us other wondering for studies combination this preclinical this Was oncolytic data in preclinical to you First, combination CAR-T how I’m just with can tumors. compares first in an solid

Dr. Matt Coffey

They using promote tumor published is, of find of The or an actually generation the you mean, And I months a idea. pretty mean, look with I carriage. concept reoviruses, either ago. fascinating. though didn’t I seeing of about the is, persist eventually, at they’ve Hope method the we’re six second primitive. CAR-T we’ve I interesting. two, CAR-T It’s is evolution molecules access the done, long. which causing CDXX of to generation the CAR-T costimulatory introduce first work, seen City to think, the cures XXBB. novel mean, they And inflammatory something very What aspect I if difference were agents

third The generation, costimulatory in, those molecules. has which we’re both actually currently of

persists fourth CAR-T longer, to Mayo thing element fourth job. de greater molecules, like things the opportunity genes adding include cells. generation, CAR-T. a to do interesting means the that CAR-T stably give they to the their CAR-T has just costimulatory for and recruit going by much an The one generation IL-XX of So, has up a people will The sacrifice is to are actually which have to persistence those facto basically what that additional the held that’s T done expressed generated inflammatory to

doesn’t to comfortable T mass. replication. the BXX the in vitro it cell, And demonstrated add those in the It’s to tumor regrowth. or started the you reovirus day the reovirus, actually day specifically cascade. animals. unique actually that eliminate a with having And reengages actually you generating at here go bloodstream a Mayo experience thing the And model T we’re I that using, support the doesn’t that and opposed that chemokine getting as they’re the read you’re to some virus is And actually which one saying XX So, thing is tumor if generates present in think that because cells investigators fascinates these really with XX single cytokine, support and the animals can model, the that replication. me just cures paper, of to

T examination think area this engaging love or can think or they the think virus CAR-Ts which it a that has their increase I that massive can cells, again, is or And is tumor as is to run a CAR-Ts has solid boost that very this think the is But treatment. new virus. specifically child item is applied see it’s the And of post challenges that’s know, fact you are immature a the of applied the with CAR-T be study boosting, the don’t entity, seen we’ve must you But microenvironment think, you the shots Clinic long, taken They of So, persist restimulated cells have I Eventually, by breakthrough. are well to eight remodeling virus again, fascinating reengaged the now. populations where can of commercial by They at I but through that target virus. right don’t because, that think And be tumors. a AWARE-X will I the -- the reengage can their the first learnings how a the virus. somehow very CAR-Ts they it’s And populations the really the those weeks are with clear six for because can pharma AWARE-X how or outcomes. lot response is CAR-T, Mayo chance of there some kits actually to partial pro-inflammatory. the and patients I so patients in and of the speaks a demonstrated very what recurrence provided a from interest promising. done serious booster it I if here factory. is at it’s these present regard. a out, become as are immune had or Patrick, Mayo hot system, T to depleted what I we improving We’ve only there think, the have, if is in

Patrick Trucchio

timing preclinical would And moving in released or of data. combination the that forward look has in alluded the terms an going for combination like just program just partnering if it, in specifically? how recently steps discussions CAR-T you idea You with an program like if look CAR-T. pela I’m of like are how of the us level solid -- around increased tumors, wondering with to what of something the next could in give the following potentially but interest idea that

Dr. Matt Coffey

consider actually. it, X it’s Well, is Because interesting you multiple program. breast cancer X parties start a cancer in Phase the about to we’re X. if program the partnership Phase breast with Phase But, around

be incurring the firm because X was is partner, So legit, higher the to be supportive of larger Phase to that X immediately all upfront that Because looking partner asset. the to registration sure X we’re BRACELET cost Phase study. for a have But, that is to the corporate to be of that for and studies barrier valuable, for knowledge. entry quite AWARE-X going are adding randomized because Phase they a going the

to payment, X million come years, immediately. way forget the they a opposed the looking when see billions you of proof-of-concept in and the five where $XX deals million So, about get Phase as $XX you we’re road, investment or upfront for for X, and that you preclinical Phase a down and then with you the up there’s promise

little that area. opportunity, going it’s, I its a CAR-T again, to because bit new flips a on think, back therapeutic head the Now,

partnership be a it opportunity. would So, X Phase

because we’re X I that massive program. So, it is engage a that will on the much X during for and copayments simply partnership What looking with milestones regulatory royalties and Phase happens and environment. in a manufacturing marketing upfront for looking enrollments all not filings upfront with and to Phase be filings think we’re the partners easier

we’re add transaction to So, can speak space. interest that type arrangement of seeing? than ability level to happen like breast cancer we think rapidly Andrew, your you I’ll let but doing much we’re of the to Andrew the what it, more would experiences of of in the

Andrew de Guttadauro

Yes.

I think critical needs addresses one the It strong. is the unmet therapeutic the space. interest of CAR-T of

towards already it’s going X. whether a Matt, to you Phase you’re trying an different you’re because with first decide Phase eventual license dynamic opposed X different as a eventual to, this it’s alluded to eye And trial an downstream dynamic. As to

do. a we modest. are definitely We’ve lot aspiring So, upfronts are think are We And the said we modest. that deals. more is more we of in the at to ask credible what looked

You’re not Phase talking about X-ready a asset.

So, success some that we’re have we -- here. going think there’s that to

data especially perspective. just it. on still so a BD news what Obviously, because XX I’m so it from we’re the baking far. But, came about we’re at by heartened seeing only We’re it excited out,

Patrick Trucchio

then And well, other or views those domains and tumors inhibitor I’m combinations CDXXX combinations. checkpoint costim are the Got your both bispecifics, on liquid potential PD-LX wondering those there with and solid targeting what particularly in as it. with combining with and pela

Dr. Matt Coffey

doing is have very so to results think, the which to to taking They They have empowering vast. just individual system, to they and are then patients. I the modified. CAR-Ts. patient. space to genetically opportunity be goes the The of patient The CAR-T of manufacturing moving then they’re back on seeing survival has XX%. have it immuno-depleted, come I be is it impressive. The right five-year to find, is difficulty patients. and are autologous, patients with to think from they it rates that the Because hematological X% be expanded. in I They’re the they’re super And immune the sexy right malignancies now because

So, CAR-T collectively, a much and cost it of the time product. very expense and make niche

are companies CAR-Ts. are allogeneic there that Now, developing

wouldn’t modified be one They So, that donor foreign so cells. would they to be multiple parties. genetically generate immunologically T would

think, demonstrated, gets therapy, actually cells that have solid much of treatment to aspect the up animals. I they T because bispecific hem more have model an where thing get results dramatically very individualized Netherlands you we can for malignancy. fantastic can exclusionary cell could turn ours past dramatically which CAR-T, it. it like will, like really cells. you bispecific you the especially CAR-Ts they’re been antibodies, grow the what they’re exhausting The and in they’re opportunity effective tumor expand because one of into T ineffective tumors what about colleagues and very So, cell-based expand microenvironment that in challenged do, solid the into a by showing With But great like it, in is it B malignancies,

we across own think I can unique multiple probably think has each their they’re partnerships in. interested we we company epitope well pursue. that this that I have as can And because do targets

In terms like things of costimulating, PD-LX. they’re targeting

I to this I agents can its used be just don’t talented using valuable areas exploring cells, how this XX ability approach how is thought these of to T think asset really we had I expand the even and I T collaborators think the that’s ago. that are of T have because that the board different recruit we’re understand that cells that against. and and beginning many members scientific activate areas believe tip iceberg. it months And advisory them about cells, we’re use think fortunate in people just

Operator

Ladenburg. next Your comes question from Wangzhi Instructions] from [Operator Li

Your is line open.

Wangzhi Li

the Hi. for for taking earlier. you technical issue Thank question. Again, my sorry

just manufactured separately with starting into first the the Maybe progress. the Is from for question. So, on this this part, one or CAR-T preloaded? congratulations provide can approach? going you technical to manufacturing -- also color more CAR-T So, on be post this

Dr. Matt Coffey

poster in mean, I of public one we’re by publication, -- the of I things things at. big or people Absolutely. I entered mean, the aren’t aware a that time that’s measured in to looking we’ve a and it’s time actually of months like think, get takes been the days, domain, to measured I of measured mean, years. to length volume it weeks; not results are the required that get the not it’s publication. it’s

two add through that solution it So, question virus of to replicating. the and simply of the this is, apply They’re degrees that well kept so that CAR-T MOI to an get but even we’ve this we’ve what been at virus, then engages from in in sufficient cells cells viable of want this thinking or you it outside the a the an options do product aspect. instance, can saline They’re cells CAR-T some blood our is adherence the of at track solid CAR-T X are, about you those all commercial you anything. eventually will had are cell And degrees, actually, And basically, to of The we a not have potential take its to virus receptor a stasis. actually number with partners. We because of tumor. virus it they’re cell not at collection and that so X a cell. [indiscernible] that doing per

they product setting, would you do there’s that what’s the if would about Now, it terminally the facility, options the doing it’s high at factors control which And at can by will, or in they level a GXP create we what environment. a blood growth actually are, nice is virus. could product, apply factory you, the CAR-T the because we have that point, differentiate and the it of

on virus That studies, stability are will how underway. there lot to [Technical on So, CAR-T, SOPs, long have ability is studies a persists equipment a be a the lot the rigor, more like lot and Difficulty]. more those really dependent greater testing

then hour that to infusion, the for The made returned make infusion can solution, the aspect in up we proper the They at the is, it hospital can adherence patient. the that apply virus, obviously, CAR-Ts to to center then into of Prior hospital applied course the factory. over have an the the rocket, the to other and the we are patients. so do pharmacists are there’s

sell to So, whole The thing is the both from dictate is the to us. partners are stability kit. available preference going industry what’s Really study. to strong a as

of both preference. quality the plus there the cell the that T signals chimeric generation to how that fourth from on long this molecules will immune That’s depend that So, would system. clinic. then, combination But controlled and is have receptor obviously, basically retains costimulatory to release That product be CAR-T stable. the the it really

Wangzhi Li

I T think mentioned it. you’ll increase you also synergy engagers, helpful. I That’s And bispecifics the cell assume with cell the engagers. make to the the and Got T assumed then, virus infiltration, and T because cell mechanistically

sort -- cell cell engineering T you So, also the engagers. engagers tumor, express the used tried have of to T the inside locally virus

with virus. it energize then So oncolytic

Dr. Matt Coffey

of we’re by something payload our size but somewhat exploring now we’re scientists. limited it is with the the translational that right reoviruses, is other That research mean point. I

Wangzhi Li

give, just one Got new see a can the more you we Maybe the or for quarter three data cohorts, or Okay. little other are AWARE-X, on last the going from it. two? anything new question color final set, data just to more

Dr. Matt Coffey

for and tissue that get, the results volume can cohort of predominantly of new great we It’s a X X, we because of do research. tumor deal

presented TCR-sequencing historically, with like So immunohistology. things we

for We The CDX We what’s can happening level. are So which is characterizing, for because largely influx to define is the things basically, -- can that. suppress tumor much CDX-positive are a more changes tumor-infiltrating it are allows want tool cells we see us what actually the also look the have at to present. a of can And but in what is cytokine Because brought the we Treg we don’t actually molecular where because cells orientation, cells. a we’re or tissue do look to chemokine, very the immune viral cells cytometry. inflammatory the which And infection, advanced replication NanoString. are, we a spatial early being mass at that very what imaging massive reason What valuable so us. expressed, environment want look genes are that cells doing section, a at lymphocytes see and see are events, is to is promoted to is why Treg. that pro-inflammatory whereas the inflammatory that that’s T

will we’re virus from data so what inflammatory we in decrease get the finding we the CDX, the with inhibitor, add have is accumulate of Halozyme a actually collaboration is early being Now that more checkpoint both a than anti-inflammatory. in the that with But, ratio favor Treg. we there’s when

mass there. So, with we can which assistant things are cytometry, cells imaging like see actually or are associated cells which in, brought

XX%, that by breast if indications improve triple-negative have you line agents that the XX%, can using to patients response those the a cells is the are increases actually threshold what who for Tecentriq. we but can massive systems could presumptive If going that a we in see because bottom PD-LX to normally it’s antiviral patients like And drug. XX%, think because and like antigen-presenting many or requirement to you effectively like I characterizing it’s XX%, get checkpoint to XX%, we be get anti-tumor generating difference eligible that can are PD-LX blockade imagine, for start cancer, PD-LX patients XX%, that converting new saying are where expression, who and agents VENTANA from access be we wouldn’t I’m how expression eligible and for cell are XX% Our both XX%, to we response. really see T blockade, checkpoint

gives it lot data. of us a So,

CelTIL study going been we’re And in really cohort we design focus thrust the alluded adds us primary of program. difference and the cohort earlier, and which Now Phase changes is lets AWARE-X the Tecentriq. be that which on to X, is have the really where largely because the seeing cohort the call as X X to between the X it

NanoString this or like checkpoint is lot additional I that we’ve could a suggests inhibitor we’ll immunohistology, better the inhibitor each, an like which a the cohorts are the viral of data of was think cytometry is. important X, But imaging getting We’ll what of skinny. to cohorts our pro-inflammatory four in patients by checkpoint we five technology, in never There replication. not viral tumor. much have signal. pro-inflammatory contribution of we only viral But, double-stranded provide are a also is it terms is on to of X. get and level replication RNA, exploratory was see Normally, X, pre design, seen this much So, playing sort event, or get through mass which we of actually think protein important those it when because see once role. in But. the infection looks a looking picture through the tumor, basically what of tumor you’ve think gone XX% three already I replicating point apoptotic weeks, of down seeing that the we’re virus, They’ve introduced people aren’t time recognize, at road viable. cells we’re don’t the And pathways. but whether

towards facto of will saying see when were viral we death, phagocytosis So, factory. not is go XX% cells tumor whether tumor a those cell is by a now It’s infected, tumor it of the monocytes. de or XX% be And what inevitably, mass the mass. apoptosis mediated being productively

I’d virus we like patients. breast see get we it more why and actually it It think more I the that look for cancer, it, took did activity. it to manifest response. of compelling as single-agent months people a breast an Moody. monotherapy, GOL out explains think is. the six I When publication and And [ph] again, objective anthracycline-refractory And data have use objective at cancer So, we response see we as the

immune is tell us the unique engagement compelling together a story stage, in its points just responsiveness we’re I engagement really think system, again, in the of in to And tells that cancer the what seeing seeing manifest. on cancer with team’s fact the great doubling its It’s then, that immune to the in demonstrated level, lot rapidity then, overall what signals there’s of we KRAS viral we’ve breast that a results engage patient feature to very pancreatic CEACAMX lead. for the where survival time have vast that NCI cancers. replication those is system activities, a really, express exquisite IND-XXX, So, a AWARE-X takes PFS breast why indication that such GI, virus. of to through low in groups of amount Montefiore is in such the majority look and is of And taken terms in of the of replication, the that the clinical that engagement patients been then a us. that at of of behind patients and a immune great disease in And the able benefit to of common activities coming system. But, at we’re a which Roche like Andrew’s of other rest the then, a and near demonstrates out to had

we really tell have to through story. unique a opportunity think So, beautiful I these collaborations, a

Operator

call back I queue. presenters in further the At questions turn this to the point, remarks. no for over I have closing

Dr. Matt Coffey

Well, I it’s especially the appreciate on again, the West Coast. people early, for

Thanks, us for look we’ll everyone. We continued way. everyone, everyone thanks, advancement joining the the call. keep our to So, pelareorep. on And along updated of forward

Operator

today. This conference. you Thank for everyone today’s concludes joining us

may You disconnect. now

Oncolytics Biotech (ONCY) 5 Mar 212020 Q4 Earnings call transcript