FPRX - Earnings call transcript Q4 2018 | Five Prime Therapeutics, Inc.

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Operator

Welcome to the Five Prime Therapeutics Fourth Quarter and Fiscal Year 2018 Earnings Call.

As a reminder, this conference call is being recorded. I'd now like to introduce your host for today's conference, Martin Forrest, Vice President, Investor Relations and Corporate Communications.

You may begin.

Martin Forrest

Thank you, Scarlett. you us. thank and afternoon for joining Good and A full our remarks. issued year with on the the company earlier our Presentation slides quarter will and company's fourth refer website our XXXX on that and Events be press also website prepared can posted on release today found we've page financial we and results was during to Officer, me joining today Today, Knickerbocker, Executive are Dr. Chief Aron Collins, Helen Medical Officer; Chief Dr. Officer. Financial and David Smith, Irving, Bryan Scientific Chief Chief Officer; our Today's forward-looking XXXX, Securities statements development conference include Litigation Reform regarding and Private call under the outlook. will statements research financial Act including programs of and our filings. results may due discussed statements including Actual forward-looking those from SEC differ in the by section these numerous Factors factors, indicated to Risk those our of

Our could and assumptions change. expectations

these the elect views statements Aron. over specifically so, may future, we to update turn any our even if we now the call to disclaim will in obligation do to I forward-looking change. While

Aron Knickerbocker

joining Martin. us Thanks, thanks Good today. afternoon, and for

and exciting share get Relations heard started, pleased is our Before will small productive And will facing review our review Smith our a I'm be Tim-X an from On today us novel expectations milestone of strong and for to time Prime. leadership after an Five to will David disclosure and our for touching and Q&A new Brian and events five large the Financial biologics guidance clinical key Officer. at additions XXXX turn our you having readouts, call our David focusing data for be Prime and a for to team that. of results continued to and and critical CDXX assets. discuss Chief Vice advanced impressive milestones, and I our the President I'll our accomplishments, just both Martin year development financial will XXXX David of Investor highlights I'd been pipeline. It's to on on update brings cash colleagues Communications Five programs Corporate know Helen programs they'll with our our here And today, XXXX at companies. worked data welcome of we who cancer. clinical and patient of team. new is XXXX experience clinical our like we'll biotech provide to more and breadth then multiple for new XXXX

our Five and So tumor are to from Controlled I'll begin tumor types summarizing we tumor XXXX uncorrelated turning cells cells, targeting divided Five by killer and different T natural cells. X, associated macrophages, programs systematically clinical are XXXX are and drugging which including All cell programs. Slide Partnered and into by Prime the programs highlights Fully micro-environment

month, nearly we data for trial the end and targeted globally of Phase enrolling XXX the with Last our to overexpressed cancer gastroesophageal conference. or the we sites which a patients. junction by Five at is XXXX. approximately be will in Controlled expect trial GI the ASCO bema FGFRXb, X Prime advanced FIGHT presented across And is start the let's leading safety is programs. So program of most Bemarituzumab XX% antibody and gastric

is of Next family PD-LX. checkpoint same molecules antibody our in is targeting the which BXHX. This FPAXXX, target is is first-in-class

patients this keep combination that We for to begin will week selected estimate midyear. month, the of initiated well expansion in FPAXXX every true as next weeks monotherapy kilogram dose in dosing However, breast, cancer. implementing tumors endometrial just testing served in We're we last with escalation, BXHX development not our that found cancers FDAXXX of and also Xb XX in opening dosing stage that are a cohort, enrollment checkpoint the cohorts. plan, overexpressed positive involves schedule completed we per and by BXHX milligrams the we is which ovarian cohort such around the as This and ovarian Phase inhibitors. three

antibody, fusion which CDXX-FC in the not are program by of which This Let's FPTXXX, solid Phase dominant is to end trial a an which protein. co-stimulatory but T dose a CDXX turn pathway CDXX, cells is a escalation in co-stimulatory is tumors. activated. is lag now Xa as

to finally specifically And alone. line including to chemotherapy blocks Tim-X and BMS. programs, advanced by response suppressing Turning phosphatidylserine interaction. CSF-X the randomized This cells response comparing antibody to the that dying without in cancer cells. cancer. the the chemotherapy of to involved cancer receptor. macrophages Tim-X combination has cells. with in The pancreatic a care is is with a been trial Opdivo cabiralizumab, the relieves BMS-XXXXXX progress Cabira tumor an Partnered immune blocking our which Phase Bristol-Myers immune trial the the making Squibb as mediated is Cabira the associated depletes now antibody treatment antibody good is of second Tim-X suppression BMS-XXXXXX for is standard of and dying on which phosphatidylserine is developed X by in normal by

at three clinical as Our being of Phase-X/X pathways, in activities collaboration agent checkpoint partners part Bristol-Myers our this Tim-X summarizes data programs. disclosures that and first across of candidate. all the are X, a testing to a is trial produce Slide those now Squibb five clinical focused on

from details left, Five XXXX, leading we In data bema. we've will Controlled the and for Helen already to trial the provide call. programs to the program those the with during later FPAXXX for starting presented ASCO our So disclosures ESMO. data at the FIGHT about expect safety this Prime on make

Phase portion X Looking the present at to the conference to SITC of November. dose in plan FPTXXX, we trial escalation data the from

the collaborations, and companies BMS Throughout many dialogue deals. of year, cabira the Tim-X business continued programs. potential the with both with development maintain we progress ongoing pleased we're the about our for As

to While our to we us explore broaden may do to value or shareholder deal create and programs. not continue alliances and specific we guide strategic timing, that any allow accelerate

from our review programs more clinical So with to detail. highlights the that, call I'll Helen over not turn in to

Helen Collins

programs was Progress you, Thank five our clinical XXXX. of Aaron. made all in across

is for FGFRXb. overexpress Slide our bemarituzumab, most with First a in antibody first-in-class, our ADCC that X, enhanced is program which tumors advanced targeted on development as isoform-selective therapy

summarized data primary mentioned tumors Aron combination safety into on pivotal in with overexpress of is gastric trial Phase in XX. gastroesophageal the identify Lab both evaluating and Phase on the the whose gastric bema tumors limiting in nearly whose and safety FGFRXb We or the recruiting The overall at endpoint. Europe signs enroll the three to with collaborating the modified of FIGHT meeting alone. the safety We trial geographic event Asia, using cancers. any patients activity global we're received and GI ctDNA tissue observed we did the randomized based X treatment IHC clinical an registration of patients. bema lead-in identify FOLFOXX US we're We're from to toxicities China, a slide to X countries where is chemotherapy already did sites with XXX As over track cancer In and for year. patients It previously from and in dose lead-in XX is of bema invite We and trial FIGHT The XX. of and this gastric FIGHT advanced end data the blood a advanced impact the January. slide have not not XX. frontline clinical design FOLFOXX modified is the move to on presented ASCO of Zai cancer XX and Data with the common, survival gastric open gastroesophageal modified observe These lead-in is and modify trial lead-in and XX% and the trial estimated patients combination us had FGFRXb. chemotherapy pharmacokinetics. the known who chemotherapy driven on allowed safety as of cancer is sites summarized global junction the by trial FOLFOX of distribution for summarized overexpressed the Slide testing of

FPAXXX, in by as signal on antibody enhancing BXHX BXHX cells to is BXHX to on tumor is mechanisms inhibitory BXHR XX. overexpressing of endometrial cancers sending overexpressed breast, tumors ovarian is of Moving This target our to an by enhance frequently depicted to to designed CDXX and action, killing from through ADCC. blocking cells and slide this first-in-class antibody.

XX, overexpress with triple negative at monotherapy in XXXX. PD-X the data of complete we with BXHX annual slide with combination trial summarizes here, mirroring tumors. the cancer. are weeks observed designed keytruda and test our FPAXXX such the XX activity response the AACR presented patients a AACR evaluating up mice presented dose XX over had identify ovarian supporting per various ongoing hormone end antibodies remain of but mice the as and overexpressing Last escalation, Phase to that shown BXHX at at days. positive meeting ovarian of to three date on drug administered that to year expansion, breast expressing against disease Based patients cohorts Not Xb cancer, study a safety combination data the in shows free we XXX clinical these of Xa, FPA activity this the this Slide milligram and slide FPAXXX dose BXHX as breast to the and XXX cancer, of a also combination of on XX% plan anti-PD-X kilogram endometrial to In whose in we Moving the every of tumor once receptor and Xb anti-PD-X. tumor cancer. preclinical of specific tumors synergistic BXHX

this We midyear. combination expect enrollment to begin cohort of

to we year. mentioned, data disclosures program to FPAXXX the make Aaron this As plan on

Later PK the all cohort per full Phase in preliminary preliminary at additional of and to cohort dose. the milligrams positive year kilogram be of the expect exploratory at expansion to ASCO. data ESMO, first in some We data data BXHX and from escalation cohorts plan and data from the from include kilogram milligrams disclose June doses the three from XX we the Xa patients. data This solid monotherapy will and at tumors dose safety disclosure at per in exploratory XX the

data least We have for from also safety keytruda available at ESMO. the combination hope to some

CDXX-Fc on is molecule shown which this discussing in our fusion Brian Next first XX, FPTXXX protein further. slide be will is class

escalation in dose preliminary initiated our we clinical November. have plan Xa, to at present and Phase Xb trial data in SITC late We safety

promising initiating action by cabira multiple Phase a tumor Based Opdivo pancreatic sites is programs, of in development line it's XXX block advanced program. patients X and additional design cabira inhibits advanced BMS, Europe Slide pancreatic the approximately shown expected CSFXR preclinical cancer. cabiralizumab the turn macrophages. has to Bryan in the enroll Canada, partner call discovery demonstrated program BMS this safe-to-trial further is CDXX in pancreatic been of the commitment in and to X, This patients that partner the I'll trial US, slide antibody Slide Turning to in cancer. new with our XX randomized, survival on to been illustrated across shown our metastatic our cancer. on XX. review controlled it's activation shows indications on And locally mechanism Phase has and associated now of Asia. cabira to second or BMS, programs over for trials to and as the XX. and rationale Tim-X has enrolling

Bryan Irving

a Thank have Prime, identify we platform At a and address to competitive advantage targets, Helen. new Five you, protein therapeutics. us cell types ultimately develop unique that new gives

helping to of Our into we concept. that clinical proof toward dynamic platform us rapidly is discover advance therapies screening differentiated development aim

enable program about have I'd was art talk therapeutics to fusion generate well also on XX, the by in first-in-class immunity secreted protein these potently FPTXXX We as discovered monoclonal extra and tumor domain individually a to We such immune mechanisms. One screen other which antitumor state CDXXFc that as is dependent proteins as the the antibodies technologies associated vivo it approximately showing enhance growth to slide as bearing immune is those we We FPTXXX, identify that screen of fusion call as from protein like mice is XXX our cellular to multiple immune. library proteins proteins. monotherapy. expected of tumor

is agent to its CDXX fused the to antibody pharmacologic does PK shown potent as optimize Fc Slide proteins properties. the two tested FPTXXX, most IgGX extracellular XX. we of candidate an was In domain domain is and CDXX of This things. on drug One single that the

CDXX, T activation the receptor First, the it's the needed effective cells. for co-stimulatory natural in addition cell for binding receptor partner T key of receptor to or

CDXX with the exogenously cells the respond against our we tumor. provide T co-stimulation applying by to the need can drug, So ligand

its that the is release organism don't This we receptor accompanying with because CDXX targeted super Importantly, activity. androgen FPTXXX the in see with cytokines for its we're T co to requires binding cell the addition engagement antibody. CDXX seeing of

CDXX of it allowing In differently behaves dependent Secondly, CDXX. activity. cell FPTXXX CTLAX for endogenous CTLAX FPTXXX antibodies because CDXX as expression FPTXXX CTLAX endogenous for competing and antibodies, to ligands contrast such tremelimumab CDXX directly interacts signaling from to activation. ipilimumab prevail blocks not with in T on its is than

So often as we the CTLAX in CDXX tumor bearing the a limiting. with administer cells ligands from that its know co-stimulate tumor antibody engagement We therefore micro-environment of most T FPTXXX retains mice single function then an with can where of we efficacy lacking in effective pre-block and we lacking CTLAX. independent work and preclinical activity FPTXXX agent and are that

preclinical agent is agent range across including to notoriously refractory deal entity of model activity includes models in therapies has the wide Secondly models, syngeneic single anti for a strong which FPTXXX demonstrated that PD-X. single immune BXX-FXX tumor

immuno-oncology and represent options. drug than different to believe an we So addition very is treatment this anti-CTLAX important a could

is to and second healthy that the collaboration to to exposure upon membrane, the with clinic Tim-X that that the for binding The flips a is outer explains dominant is Tim-X binding signal XX. mechanism the and deliver Tim-X program leaflet the is in antibody on confined membrane to illustrated has dying three which is cell Slide that represents to Tim-X, is of Tim-X action believe inhibitory feature family cells been The plasma an enter about death. the confirmed Bristol-Myers action I'd this research stage a bind cells. interest. the partnered first targets is suppressing to of that inner A signal to our for We phosphatidylserine contributes of mechanisms structural talk program early interaction Tim to generating the program The BMS-XXXXXX immune the phosphatidylserine unique to block and phosphatidylserine. is against of response Squibb the confers of of strong tumor but novel phospholipid a like

these Prime have three undisclosed clinical programs, in to early advance Five research stage we to stage In addition by later continue programs lead generation. We currently programs. Controlled

response. In area exciting response. stage gatekeepers to addition, enhance antigen of early working identify effective presenting on cell the and their to We're T activate cell capacity anti-tumor ability T one an cells, dendritic focuses proteins and their the

that review be to by identifies leading continue targets micro-environment. potential systematically that financial. excited So now call to over I David the platform normal Smith the drug to the tumor of our to our I'll biologics turn

David Smith

can release regarding issued you, Thank Details as found we XX on as Slides be well press Bryan. our XX. this results financial in and that the afternoon

million with several the public XXXX. cash BMS's XX, Turning XXX.X in on December agreements. to BMS a XXXX. decrease primarily million development XXXX offset operations to development million a partially of from proceeds the under offset from our license for quarter with first by million attributable research the which December the marketable equivalents the our collaboration under ended December cash due and with development XX.X position, million for expenses. primarily million costs. and first the older our million X% XX.X XXX.X companion from to XXXX year to year XXXX or by million million basic decrease the per on to dosing we or FIGHT from ended Zai for This of agreement increase compared XXXX. XXX.X XX, XXX.X net ended revenue fourth of our development offset quarter was for research The ended trial of XX.X by expenses by and the increase quarter a the year. million, the the XX% achievement and the XXXX. expenses million from XX% decreased Net part increased for milestone Phase primarily by were development Prime's lower offset finished an basic year partially and administrative of was used from X% to collaboration were was outstanding from due increased was in the December XXXX million the agreements XXXX X loss XXXX. XX from Zai associated primarily cabira FIGHT million, $X.XX the million for and for diluted and X.X patient Opdivo associated ended fourth for net XX agreement with share X cabira XX.X by X.X our The General clinical or as costs year compared of increased and for common quarter year totaled with XXXX clinical lower to million million was loss to fourth our collaboration by which stock. fourth for milestone XXX.X the with XX.X for fourth of was the expenses. the or in partially X.X funding primarily immune-oncology increased decreased development due by $X.XX XX, manufacturing outstanding XX, the for prior XX.X XX.X and Lab. offset that Collaboration million recognition of expenses primarily year for were with preclinical to weighted revenue of shares XXXX Research and full million, full quarter year XXXX compared shares the average X diagnostic collaboration XXXX. Lab $X.X the million program combination FPAXXX milestone XX.X strong collaboration per X% by XX, due or XXXX, diluted balance the payments million patient share Five $X.XX and or The to $X under with of basic Collaboration and related collaboration, dose million in license million of December XX, an in XXX.X of a December Total essentially per trial trial million Research fourth December This share, and compensation per offering million and of and to to expenses Net of for the lower or BMS sheet. XX.X the Cash, million General net our research in from diluted in January securities XXXX. loss Development cash was XXXX administrative lower for to increase XX, revenue the or XXX.X by quarter fourth XX, recognized cabira XX.X and from was of collaboration quarter lower from flat older or and expenses XXXX, for December diluted $X.XX diagnostic loss XX.X share, basic was million companion and funding year several lower that increase to revenue partially was million. full to

look our year. the will including at conferences in investor and we meeting expect year net to we XXX ending will the Morgan be conferences between investors XXX Conference. and Healthcare estimate million I that to forward In million attend Since used the Boston ahead, at Guggenheim year, XXXX the full next cash Looking XXX cash events securities and coming month with operations throughout million. between marketable and equivalents Cowen and other XXX XXXX and cash, beginning the presented JP million and of in months, at be we the

the to remarks. Q&A with open and the Aron will then end for ask I'll call Now operator closing

Operator

first Jonathan question with Instructions] from Our Chang Leerink. [Operator comes

now open. is line Your

Unidentified Analyst

for BXHX this Could give FPAXXX patients David and for et what on data year, the is ASCO we to how context the can in on Hi, from from type unselected tumor progress. my expect questions then [ph] Thanks any this for and many Jonathan. expression, congratulations dose specifically expect taking cetera? escalation each at you Rich investors dialing

Aron Knickerbocker

to it David set thanks turn for intend Yeah. to we describe for is I what to ASCO. expectations question. to Helen it your think And present there. appropriately I'll important

Helen Collins

Yeah.

last this in to how this I this end fast may I you patient therapeutic. and first start happy because we very very started went at - low with year think So the we really is had recall novel our we're enrolled, March a of mean,

might and And didn't the out put but so we're escalation, dose who patients pleased was right that you advise comers. and escalation we all our dose to turn gotten an to try patients. age, BXHX, day In pre-screen all you this be to your you're investigators to think

will So in dose. dose the course we our BXHX be and them did patients some escalation positive to get are of that most dosed of low

we on wholly-owned, have, is Again, for we holding be we so anything. a us, present. won't whatever wholly-controlled So will back this molecule

In the the be which going expansion of types. pre-selected BXHX specific terms and the to is patients tumor

hopefully that's we're going that we downplay of all a an interested in what for just the you know, really we'll why PD that anything efficacy by be announced really well. we there's and data cut the as data about knowing think scan, do is really time terms think enrolling, whether the going last present ASCO we're data to in, you much as we so have we some in I data week, ESMO efficacy to story. because just et started cetera, want have have But to so

Unidentified Analyst

Great, enough. fair

expect then And those Phase so the Xb. to safe efficacy data for at it's ESMO

Helen Collins

didn't we now how or again probably we're don't month a that on quite enroll fast because we have Yeah. get enrolled and but the the two. have we next quickly dose escalation Xb, so pre-screen sense over people the will And sense we'll making to of for that Yeah. pre-screen, really a better

Unidentified Analyst

differentiated the the And on of forward? you you. Thank landscape setting you. the in options in moving given could one additions the just cancer provide frontline general context evolving kind you thank Great, potential view bemarituzumab frontline some future, question, to more gastric just how is of some and treatment

Aron Knickerbocker

presence overexpression associated is in comment detected for cancer. gene turn One that it agent survival. the development or target is specific I'll this front-line this that to by in application only protein the either with maybe reduced is Helen. And and by Yeah, is this of gastric target

mechanisms factor directly to prognostic bema cells has NK to signal have growth preventing in factors two poor ADCC that FCFRXb targets binding, to a the action of that it from due its it's also glycoengineering. overexpression, the enhanced but receptor and know engaging we So with

limited So is sense, is, right, see you're a constantly including and gastric add cancer, prognostic specifically in we which very possibilities, addresses or we very between see limited That evolving FRX FCFRX the be see for And but differentiated the what higher overexpression overlap for with PD-LX, other PD-LX. that cancer overlap target anybodies And you the and example, and bad gastric similarly we said, be can high and very in factor. limited very CPSXX for it overexpression FRX for it's overexpression. Helen to anything between FCFRX drug this is to else. landscape frontline example, of

Helen Collins

I out. love Yeah. that again, I I-O to patient important population. No, mean, I the those see is mean of in terms I read trials how think

The control seeing very think and think how right? a it survival generally I with mean general cancer, average well asked again prognosis, I their they this poor I chemotherapy. and over gastric ran patients it's have - months. again no trial these XX

and add XX actually than if these So Aron see, certainly then just more think to - we're I to said. so to think patients have much may FTFRX what you right. worse Not that, do have would months we'll again,

Unidentified Analyst

thank very that's no, you again. and helpful, Great, congrats

Aron Knickerbocker

Thank you, David.

Operator

. Seedhouse [Operator with from Instructions] Steve Raymond Our comes James question next

now is line Your open.

Steven Seedhouse

you have might there good collaborative relationship. afternoon. the acquisition of example, hear be of to are it for any on any Like, Aron, Bristol curious impact your potential or your Celgene Hi, view or and I'd any you programs pipeline, on resources programs do other Prime? Celgene know certain hand Five any with reallocation otherwise anticipating synergies with other the collaboration of Bristol's from are away obvious

Aron Knickerbocker

with we've the anything respect seen latter. Sure. to Well, not

with what Tim-X merger in been those with cabira we're partners the change very In and fact there's with doing of both of our pleased no announcement. programs either and to are light Celgene

pipeline the First, the both happening is at tell, there's that when watch which was to notice of this no until program their may that they agents the list. year. the start announced made CSFXR not far as high yet merger, and thing Celgene integration as closed of presentation and the not until that And and Squibb But we to can in on one cabira closes. and Bristol-Myers cited year joint potential second half merger close they assets

So program a guiding you asset to that you as BMS think looking accordingly. will, it's for at what we for that priority watch they're and but one can take investors it's and an

of course in is Abraxane and X synergies trial. combination of the cabira cancer is tested pancreatic Celgene Opdivo that's a of second been drug that one Phase drugs the terms line with and In in

there's either the So specific synergies we efficacy for programs. that we'll but our either that's be beyond and just a for for Gemcitabine. resources seen yet would those. haven't of of possible But instance, enhanced or reiterate mindful in as seen of Abraxane course think But we that with no impact synergy, been of to diminution programs, watching prioritization emphasis or

Steven Seedhouse

so sort be you're would an Aron post so just would doing PD so of positive treatment treatment Are are and what biopsies exploratory FPAXXX, time or that. characterize biomarkers to Is I guess be just you that experiment? more going cytokines, going in positive the specific markers Thanks. would you How just looking and to immune look understand appreciate what and be to data? tumor experiment. that regarding analysis that Helen for? this biopsies emerge infiltrates there data you're pre was from I And taking maybe at micro-environment, Okay, about end-on curious I tumor

Helen Collins

right. the very be tends Yeah, a is already, on slide and specific expressed. drug it, that's think this to see our because a is can very biomarker mean, That's has I homogeneous BXHX see deck you it a and you I great this highly that question. fairly when that

and biomarkers are treatment. on they're So really and exploratory a these getting baseline

a it but it's it's it's won't at one be of the So patients, not all on an mean, the that's time actually proportion. nice. treatment. And so I progression,

it, it's said what exploratory, So ASCO. but more we we present will about at have we haven't

Steven Seedhouse

Okay, is the it every same is treatment patient getting flexible? or tested at time post

Helen Collins

effect. so right. there effects No, PD the on effects, of of same any it's really at looking treatment mechanism Are kind it's at time, action

Steven Seedhouse

one you 'XX, in question further just there used changes, in estimated in for XXXX last guess I the cash maybe guidance And provided? contemplated cash David. Okay. yearend any Are restructuring guys

David Smith

have we No, our anything guidance. other of like in - any don't that any contemplated

Steven Seedhouse

Appreciate guys. the Thanks, great. Okay, questions.

Aron Knickerbocker

Steve. Thanks,

Operator

question next comes Our from Jim Fargo. with Birchenough Wells

Your line is now open.

Unidentified Analyst

Nick afternoon, for it's this afternoon. Jim Good on

So in looks that you a this is like cohorts? expansion expansion starting the longer is cohort. patients start cohorts and trigger can bladder expansion Why what us enrolling with remind to Xb, the also it into the no

Helen Collins

I Yeah, that. answer can so

opposed was people. frequency published there So BXHX looked of by One we as been as was to as actually actually at when the may out was things. that of initially when we bladder a published had not couple what the high be the

other really just And high predictive space that safety the trigger that safety and of so course come the and the terms would thought so The and was say just preclinical of list I in tolerability. models was was Xb, to and it's it approved, and the of ASCO in efficacy on where mostly and bladder see PDX off enrollment for something tolerability on at path - our - I going we then again on getting based a deprioritized, for terms so think we about wouldn't more then deprioritized. the of is just quickly it to in in terms

Unidentified Analyst

for Sorry, actually terms what's cohorts? of timing trigger I when - meant in the opening

Helen Collins

that opened So last week.

week patient, Xb. dosed weeks ago our we've first last the enrolled and of couple a patient the first was So in actually opened

Unidentified Analyst

exploratory. the That's

designs ovarian breast, cancer. - I and endometrial meaning I Sorry, was talked the about

Helen Collins

we some all our wasn't Xa had We final escalation, exploratory we've sorry, at escalation. Yeah, than completed Yeah. so comers. No dose dose lower then did and dose if I'm I clear.

with ovarian, We the week. first breast, dosing have actually pre-specified the opened cohorts last cancer endometrial patient

Aron Knickerbocker

per at kilogram. the XX So all be to just those milligrams Xb's, clear, are

Unidentified Analyst

Yeah.

in in I target did the that? Okay, enroll you XX patients exploratory, the mean, already

Helen Collins

at the have the end, investigators so interested very happily again trial. and in very the We were

the dose, that patients so because, on. quickly escalation again, for lower to the been downplaying much So enrolling those parallel That's so we're in data. And that with ASCO dose for we of dose be that final not be it's sort we're have some why going about yes, of data the time. who've will some escalation. again, of went than They're and not very to going

we - have will present, just that what don't we So data. don't have

Unidentified Analyst

cohort to none XX? it exploratory of So the made

Helen Collins

That purpose. was on

what putting the biopsies, dose. some it little patients a would have So some was long-term of you we would have on be toxicity, would give more we we if Again, action. more mechanism BXHX potentially than at late toxicity, some doses. those lower there They positive information thought were of purpose at the patients about final

do those to that. So a few are reasons

Aron Knickerbocker

all but XX. below Yeah,

Unidentified Analyst

they monotherapy going then two And question on different patients cancer populations? population's two the different and same one more is, you're or so to ovarian combo. Are that cohorts XXX those are ovarian cancer pembro have

Helen Collins

criteria. or the very terms Yeah, ovarian of they're PDXs PDOX inclusion they're not approved. or - criteria are in because so - looking in similar similar PDX inclusion we're at cancer,

Unidentified Analyst

you the XXX? of question, opportunity And top to a ask this is on gives what adding pembro

Helen Collins

Yeah, exactly.

Unidentified Analyst

switching you to just single doing then see you just bema, program and for quickly Okay that access done that. to I patient expanded and listed a well

from tumor its not is long how is think mutating why this away bema patient's Now, this dependence? on do you patient and

Helen Collins

that's that's great Nick, you're question, right, that a a is $XX great million - question. a

have X we is it's this doing the on trial about much a therapy. has everybody the I we're information. X single afraid patient It's you I'm close call, can't they're mean, very to has and patient give trial towards but. allowing remain limited that's what patient that trial, so a that dose well, to patient. still have on Phase I great information on asked the well, for - been people else escalation that as we Phase We doing down wanted

Unidentified Analyst

long how roughly they've been And on?

Helen Collins

Three that. that to years, have look up. I I look would would

Aron Knickerbocker

two. Over

Unidentified Analyst

enough. Thank Over taking questions. Thank good you two you. the for is

Helen Collins

Thank Nick. you,

Helen Collins

drug. a It's safe

Operator

question Our with Sachs. from Richter comes Salveen Goldman next

Your now line is open.

Unidentified Analyst

bema and on a two study Salveen. up. rationale congrats was forward the for safe one ones, from Maryann progress. I the quick follow I little that I that from to understand had taking Thanks on the hi. my profile a for the and the dose have It's on and have question Phase that Phase a in [indiscernible] [indiscernible] to bit you safety discovered X. with go drug the wanted X Yes, And decision what is

Helen Collins

done Yeah. monotherapy. the we of have combination certainly limited data bema escalation safe, so and you because we've was drug say presented actually And the that No, at asked I'm data GI at looking - then a we chemotherapy that with so the glad is dose ASCO we was before and

Aron Knickerbocker

dose levels. We tested two

Helen Collins

and its of no with similar we tolerability the today maximum we dose large so answers X there the trial will dose dose the adding the the and safety. and that a that really was question again trial patients two ended up was the PhaseX, two in that together. was dose of identified levels to number Yeah, Phase tested But was a terms be what in added the toxicity

Unidentified Analyst

quick understand from SG&A? R&D one the we and and do Got how announcement, that restructuring think is on restructuring, you going between the you. to Thank then the it down the just a wanted

David Smith

Sure.

reduced at did open the we were the announced positions we focal in close were decision a restructuring, manufacturing. research, positions, as manufacturing. some few areas and from of some in reduced so well as pathology time sell and we open reduced that headcount, pathology said, but research force as those positions of the So G&A, came the That not we made were actual to primarily from a

Unidentified Analyst

Thanks a lot.

David Smith

And to cell very programs described clinical refocus the resource just the remind in resources stage the of efforts that for was some the - briefly and late or to programs, on dendritic today. example in research program, you brand emphasize discovery, focused intent stage our

Unidentified Analyst

Got it, the for thanks color.

David Smith

Maryann. Thanks welcome. You're

Operator

next Capital with Our Kennen Markets. question comes from RBC MacKay

now Your line open. is

Kennen MacKay

DNA that secondarily us would expect have negative Phase from discuss maybe the ASCO you can diagnostic there the could Thank PR to congruence bema GI was this at On of for Hi, and the earlier the the question. how IHC and choice for I versus thanks of ultimately sort circulating taking could if to tumor techniques expected wondering congruence data diagnostic sort you a there was year, make and between two the companion And the expected FOLFOX being X be thoughts you do on future you on any appreciate for you. preliminary that - rate what data, I be help it. FGFRXb and with patients then understand there? a perspective response

Aron Knickerbocker

and hear to nice Thanks, Sure. from you. Ken

use safety So can ctDNA. and didn't the with We that start lead-in. we IHC in

Helen Collins

Helen. it's so Yeah,

the So trial where in do and that X ctDNA to the on our the the immunity the all we IHC reasoning who found Phase trial, the with high on from of cell. chemicals, expression patients has monotherapy patients first was the on study, outside based using for terms the were for question of selected data so all amplified. having were What the IHC to tumor protein were also

so very fair if IHC that And you a time core whether ctDNA. get be use know gastric may And is small was can diagnosis is that. just patients up and data miss just of usually biopsy at FGFRX may that picked overexpression, you cancer, nowadays by what of the Amplification it's convention. in it the be we amount , heterogeneous, so these FRX protein whatever

what that IHC a so that slightly that populations, at and we these we were Venn overlapping get diagram are expect but found you looked like And both if them the was using patient the and ctDNA to by of they different XX%.

can who a are there for and the of it IHC be patients the patients positive for tumor doesn't some patients both will that these their CDXs some because be both. trial diagnosed ctDNA then are terms the are IHC being again In trial if would approved or clinical biopsy some because are positive because positive either be there'll shed, of missed patients there positive by only and ctDNA that who who is drug be designs

could. safety positive, to the on those what to ASCO we and GI saw lead-in those ctDNA of that retrospectively, you be we adding chemotherapy terms FGFRX collected tissue did patience we collected on could we but not that on In that now bema poster, require our

see X other. reflection ways one some in patients or but And be what trying of will the patients so a you may there pre-select Phase as we're what trial, some I think of is we positive see and our

cancer terms of first previously FOLFOX, were whether would patients they'd have is the are say getting this can receiving this back is FOLFOX therapy they do and time to prior all and had patient, these whether go that I look FOLFOX. In colorectal I what patients or the see is,

cancer they received of for the had both have out received I they this see FOLFOX is pointed think and two colorectal and interesting even FOLFOX cancer they that evidence are we with if patients had on I'd activity patient previously. FOLFOX, to received who previously therapy gastric that to the go back interesting it it's the combined - to but previously though

Kennen MacKay

that's helpful really color. Got you, thank you,

Helen Collins

Yeah.

Operator

turn like closing this the time call back I'd I'm At showing over no questions. for to further remarks.

Aron Knickerbocker

Scarlett. Thanks,

it's Five an at at said I time the exciting As call, Prime. the beginning of

targeting and programs a pipeline Partnered Fully have We robust Prime types multiple very cell tumor in micro-environment. Controlled the Five of

employees patients We continued investigators achieve and Five the for participating data updating to the Thank collaborators expected clinical today that, programs. all our you. I'd like calls. look We thank of And our have and readouts in our who And with on I'd and strategic many the to future you contribute you a to also our us. milestones clinical resources our to of all and year trials, Prime advancement thank financial to forward goals. like joining

Operator

in participation conference. today's thank for does and your Ladies you gentlemen, program. This conclude the

day. You a may great not disconnect. Everyone have

Five Prime Therapeutics (FPRX) 26 Feb 192018 Q4 Earnings call transcript