ATNX - Earnings call transcript Q1 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, ladies and gentlemen, and welcome to the First Quarter 2022 Athenex Earnings Conference Call. After the presentation, there will be an opportunity to ask questions. [Operator Instructions] And as a reminder this conference is being recorded. I would now like to hand the conference over to Caileigh Dougherty, Director of Investor Relations.

You may begin.

Caileigh Dougherty

you our thank call. and morning for conference joining Good of Athenex's an well results Today, quarter provide on for business, first financial we will of update as review as the XXXX. a results crossed news and available the on detailing The website. the is release company's earlier this wire morning the the A this on also be will of website. replay archived call company

in review SEC, and the the statements. call, the business, forward-looking forward-looking We or events, future regarding those that about conference company financial, or XXXX During including the clinical company's and fiscal with to from past and the results encourage which may you anticipated filings future actual milestones statements events beyond. the materially in will make factors to year differ identifies specific statements described cause projections

find section website of or in database the You SEC our filings Relations EDGAR in Investor can at our the athenex.com. at www. www.sec.gov,

be Dr. Cell Lau, Jeff Mr. call on Johnson Officer; and Chief Chief morning Joe Athenex of Dr. President Mr. Annoni, Officer; will Financial Executive Therapy; Chief Lang, Operating Officer. Speaking this Yordon, our Mr. Dan

management turn to to for available after team, to introductory prepared questions Kurt will Medical Officer Gunter, the over for also Cell answer addition In the I remarks. be the Chief call Therapy now will Dr. comments. Johnson

Johnson Lau

and be our first building treatments leading our therapy and Caileigh execution on data Athenex cell for call, us priority announced highly at towards our we is and for envision our the what emerging industry potential to foundation and both pleased differentiated NKT class current conference allogeneic platform therapy to to disruptive Promising progress ago, early end an be year therapeutic demonstrates this both call NKT our NKT The rapid autologous therapy team's of by cell everyone development landscape. to therapy platform you, and advancing with malignancies. hematological to our I'm compels potential that thank the value franchise. in long-term team clinical significant Thank the potential. our we joining cell weeks strategic you clinical make solid cell competitive and our this morning. platform on and Eight Athenex's focus for top pivot

and Our lead well escalation progressing XXXXX programs X XXXXX in are two studies. Phase dose

hear from about will You much this Dan Dr. shortly. more Lang

our On initiatives. footprint we with global the of to corporate noncore level repaying work monetizing our organization cost several debt streamline and strengthen implementing partnerships our by strengthening continue saving assets, proceeds our and

of Dunkirk last in As therapy toward our an raised debt done. not deployed we example, repayment we facility, we million and which quarter platform, sale the reinvestment from $XX cell are but our

we several highly As our value. assets businesses built maximum and can now part rapidly be previous of strategy, growing monetized attractive shareholder to expect that

at an will time. We announcement the progress make have significant and made appropriate

EMCO in XX% and are also in We resulting throughout and with to details agreements have generic company through later. emerging Agenus, a global and we Mr. [ph] an grow expenses actions headcount operating down our I'm our company. APS and the reduce expect Yordon expanded the targeting continued divisions a that tangible pleased savings APD report more provide as still Jeff we leading will to of partnership year operations. to see biopharmaceutical reduction noncore wind impact pharmaceutical cost

target to XX% that momentum raising business demonstrated our as sales fact much from guidance XX% we In in to XXXX to XX%. been so now and the the APS are APD gaining quarter in XX% has first

Orascovery investment business platform. in We decision to our have reported further previously discontinue on our

Paclitaxel there investment. two ongoing However, still are incremental that bring require potential could trials value will limited Oral and

are using the oral is I-SPY of expected second trial, out XXXX. study dostarlimab we by to being would Meanwhile, interactions breast also which in MHRA the minus have cancer ongoing in the I in X with and of questions Leap in plus X highlight We is regulatory received setting. with Kingdom. cancer half patients adjuvant new Paclitaxel, responses This Healthcare Paclitaxel in combination conducted metastatic continue to follow breast submitting United or read the their Collaborative oral to progress. use in Phase the carboplatin Quantum regarding

potential will We advance this program to opportunities for look or through other means. partnerships

share a pivot Lastly, making ability published continues partner was XX% highly Athenex's I'm over the Academy on in They proud our coverage. they recently the is sector. for of the guidelines received strongest in approved Dermatology recommendation. XX,XXX to actinic focused made well actinic business to market please competitively extremely were turn oncology and Lang launch. of and progress call increasing management steady coverage ahead. go Medicare XX% optimistic and to cell our generic highly that, the will Klisyri I'm a over immuno strategic proprietary committee's has X.X% the Journal Dan treatment Dr. prescriptions keratosis American gains discuss in coverage Dan, AAD's that granted about platform. perform team's transform focus to executing already have growing into XXXX. positioned also our increased NKT guidelines of the first achieving and product recording keratosis reported and are that lean I our Yesterday, over and With in generated of of for on our Klisyri Almirall a to over in commercial market to since the The a

Daniel Lang

Thank you, morning, good everyone. Johnson and

treatments. upon NKT a American clinically to and toward allogeneic therapy cells risk advancing in focus continue program KUR-XXX our disease. cellular to Nucleus, host lead therapies, cells CAR-NKT Goldilocks cells featured the cryopreservation of best the their and manufacturing terms Cellular of the a of of highlighting This of Transplantation Recently, with T terms graft Society our be quarter, and potential magazine, Therapy foundational online NK the in for our differentiated we candidates cell the offering no particular of platform, of best versus in creating franchise a for goal genetic our cell build in

toxicity that ideal therapies of the best are broader shelf in off accessible offer other patient potential challenges more to is and cellular a therapeutic to address As and cell Ultimately, NKT cell cells major achieve the effective the and therapies significant balancing therapies highly innate type, to Goldilocks Car-T treatment a both cells adaptive developments. of immunity and the approved population. of lower NKT

data For data pretreated our and Phase escalation KUR-XXX targeting allogeneic CAR-NKT dose levels. strong X treatment excellent at lymphoma we escalation our relapsed leukemia, X tolerability ASTCT. interim ANCHOR in Phase presented study efficacy early patients and of an dose refractory at low That heavily demonstrated update recently

a patients two reported, additional patients, so complete from The for rate, with patients cohort. includes leukemia. in with We data evaluable provided showed have XX non-Hodgkin's response lymphoma seven lymphoblastic update including lymphoma responses two failed XX% response ongoing CRs the with rate have cohort, overall weeks. who the the one including In of previous data other autologous far lymphoma, one Car-T XX% and patients response five in complete PR two response six-month was therapy. one A at acute

grade seeing no low no per we're host X XX reactions, ICANS doses these CRS. and of three syndrome mild the safety with results was cases related and infusion cells Importantly, of at graft cytokine release million versus or profile favorable disease, The no meter XX square. million

data are XX. durable upcoming response refractory expanding escalates. tumors presentation to May neuroblastoma from homing robust support in cells the the relapsed blood discussed Conference in CAR-NKT will demonstrating as high dose on program data at peripheral in our Clinical Washington and in and be an and encouraging the potential Importantly, KUR-XXX oral risk more ASTCT for DC

Phase a cell three responses in higher three responses were level durable dose report We response week issued X in our square, months. dose patients XX an CAR-NKTs. seen response Two NKT or persisting and a XXX effects safety pediatric highly limiting dose or XX with of GINAKITX. per for side we four interim last update, Data or related expansion encouraging or complete four study also million overall grade responses. demonstrating of will infused a response out suggesting The reports dose dose toxicities no X an out at XX%, support escalation cells profile of at in to levels the explored meter rate abstract observed XX

case in far, neuroblastoma expanded Collectively X are was infusion. weeks supporting data to two produce safe, CAR-NKT that home GDX post our four can high to provide and sites, responses risk KUR-XXX expand directed there post was managed. patients. these one easily will peaking of only objective patients, evidence cells grade against autologous transfer, in cells that all So CRS CAR-NKT tumor

between under for markers differences for us as to curve the NKT to correlated data as which the expression analysis blood, explored therapies. types have as percentage well of stem-like are emerging attributes, the found in longer such that key hope of is cell the or cells is persistence. clear central are being you memory I CAR-NKT cells with Importantly, that CDXXL+ the and other that area responses supportive it it oncology NKT as

as world Additionally, NKT with indications cell class leader unmet excited therapies, in that the pipeline first an promise benefits our has to offering are meaningful evolving significant potential, we therapeutic of in need.

safety CAR demonstrated key therapy dose as of NK in cells doses NK the durable ability believe types, we antitumor after CAR-NKT to to responses. Coupled repeat cells. unique cell magnitude separates cells other tissue, NKT this profile, therapeutic of efficacy characteristic and blood, to from cell and drive doses, a needed at orders and NKT of potent deeper is activity Our also therapies. cells that window clinical lower platform CAR a our expand cells dosing escalate a occurring with has us than enable such favorable persistence will of NKT NKT dose achieve tumor more with wide to with The cell

have to represent inflamed into responses differential suppressed to solid inherent And their turn tumors, myeloid-derived immune a ability NKT tumor of Lastly, may that's dodginess on TAMs MDSCs to and home the properties the cells antitumor immunogenic kill of tumors. including treatment in and cold interactions towards tumor. through cell CDXD tumor NKT the TAMs, microenvironment. to help advantage tissue associated suppressor natural tumor a key the killing macrophages lead tropism MDSC, an cell and with cold potential that

data cell plan liver through year, development factor our our cellular remainder the for for supporting for was highlights our transcription CAR-NKT to KUR-XXX, advanced ASCO new CAR-NKT clinical preclinical We ahead GPCX digital IND accepted an allogeneic cancer. the XXXX a on KUR-XXX hepatic carcinoma. a in abstract for of for cancer. treatment file Looking of treatments That liver by

executing to a dosing, CAR-NKT recommended establish X into study study ANCHOR a on Phase exploring We multicenter CDXX as as regimen. well are expanding multi-dose

XXXX are updates to GINAKITX about study for pivotal the about for adaptive make and cell support are both looking now following efficacy, is the I promising idea early at level of remain forward pediatric our of currently and KUR-XXX. therapy, by treatments a operations. neuroblastoma. FDA demonstrating the hoping NKT Jeff also high excellent tumor X go meet Jeff? turn continues cell are best later of to Goldilocks NKT platform and year immunity enrolling encouraged decision our regulatory and the Collectively, promise dose that indication risk this call to the we the safety, NKT persistence patients discuss to to no highly We additional path go, we a robust of in and over and and tissue cells the will balancing innate platform. to with

Jeffrey Yordon

Dan morning you, Thank good everyone. and

the comments less familiar some the segment. business quarterly for with provide this broad the into those like positioning results, franchise strong getting to I'd of Before regarding

management's grown APS leveraging this and Over that to relationships industry years, bring the business's experience, capabilities, opportunities revenues pipeline and to the past has new expand by five scale adds continue margins. long-standing APD, that Athenex

of portfolio have an [ph], company, excited relationships, injectable those Athenex we collaboration that will and the U.S. in announce agreed United As [ph] are Emcure States. their to Athenex market comprehensive a Abbott through to example the certain in product has the which recently. was U.S. pipeline manufactured products, in upon a [ph] Abbott extensive the and of approved Abbott and India. new will inspected be FDA products agreed first an facility in

in our registration an reduction begin file The other at XX Athenex can which for states, continue decision a the pleased new this We the our contract utilize Dunkirk From business important QX between this New ImmunityBio, report for vantage for six-month the to take four requiring estimated has I update and to Dunkirk which facility to XXXB to The that recent York should of year. is now our license strategic quarter's also sell inflection launch manufacturing of to opportunity exemplifies am licenses point, to products than manufacturer XXXB to months. no overhead, the and point contributed later margins. will without improve promising ahead. the first process. is has just operating State to first significant in allowed

quarter. for Now the

compared for up first the APS performance million the our XX% attribute and million, first XXXX for in XXXX. were quarter $XX strong drivers. $XX.X sales to businesses the We year-over-year, first quarter in three APD For the quarter with

first prior of that The access resolution impacting issues been supply our API. to had being chain ability

four and of when the the take that of favorable we product is Additionally, in to new lists launches an stepped we one Health advantage is pricing American Society FDA currently market. the supply injectable shortage and Pharmacists able dynamics System of were to on

Our inventory, partner product. has and already to be that well manufactured additional will we sell supplied

from revenue the products COVID the first cases significantly during spike in result as quarter. increased a Lastly, of COVID our

significantly. syringes at Pharma these markets Solutions with overall for six codes an timing and approvals, additional markets significant progress eight bortezomib products tentative XXXX, in currently in label QX four planned business improved launched is the ever of now month. three Pharmaceutical for to launched and the and with of the will prefilled XX are than planned result with Athenex private expected skews. sales pemetrexed XX them APS bortezomib skews is to very new margins. pemetrexed new our be XX We and are Division this enhanced and market Sugammadex Paclitaxel. new the with of significant revenues of and allow share. The mix addition stronger at contribute In products to launched introductions This Athenex The products to and and two added product should to have products capture margins formation leading we products QX market recent business an that increased

sales to We margins discuss by have products our to now of will expected visibility launches I turn into XXXX overall over in in continue to result and APS call the recent persistent growth the increased and to robust product growth significantly financials. ship company Annoni receipt stronger improve. to and are the licenses Further and XXXX. XXXB Joe

Joe Annoni

morning, Good up. breaking we Along platform. building to strengthen Jeff. that fourth you, that quarter of outlined and overarching season are indicated Thank everyone. business undertaken have two our strategies towards pivot we therapy call, and to I balance that our sheet in our a XXXX the with On down I cell

First, the of assets opportunities. the noncore divestiture second cost reduction and

We results at and both to which least on as we each continue we cash the by Dunkirk first of quarter exemplified executing our anticipate announcing the more XX fronts, use on extend fronts sale for months. soon in these runway can

burn. our of our figure discussing it highlight excludes the and continuing operating results, let results standard Before and proxy operations financial first from me evaluating cash a as a that figure is you Dunkirk cash from sale. think flows for This activities could

million, fourth of to million. the cash compares first $XX.X quarter $XX.X the of the was million. in XXXX XXXX of the used of used of cash This XXXX cash For first quarter $XX.X and in the the used quarter

XX%. So decrease of represents to this quarter-over-quarter the quarter from XXXX quarter fourth of the XXXX a first

million, first earlier the for please to but XXXX, million following. our the quarter of Total for press financials. today results, release for that the issued to highlight included XXXX full $XX.X refer will that revenues discuss same you a which $XX milestone quarter first in our ask compared summary was let's million period Now $XX a I payment the Almirall. from I were would

Paclitaxel quarter million decreased a million in was XX% which or XXXX. first decrease over million the $X.XX expense to reduction per primarily $X.XX development $X.X SG&A year-over-year attributable quarter losses the of first payment, decrease totaled diluted quarter, year-over-year product first to XX%, to $XX.X or XXXX. million the the attributed $X.X $XX a costs. XX% R&D million expenses. Net versus Paclitaxel million totaled were for or primarily sales expenses first one-time oral revenue in by oral a of decrease for million diluted share the $XX.X related for Athenex XXXX and share of represents increased Excluding first quarter $XX.X commercialization $X.X this or per a quarter, or

repay asset proceeds credit the had March million $XXX with Oaktree, XXXX, we under of our As of from continue we agreement will our to XX, which activities. debt monetization with senior

of cash March Athenex and cash cash, restricted $XX.X of had XXXX, As equivalents million. XX,

are than to unit growth closing remarks. the Johnson quarter, the launches raising growth. previous a performance Business State call the the earlier to Pharma expected our first to New back strong XX% XX% license, we of Finally, of York Specialty of and from XX% our the XX% have will guidance this The attractive of to on contributed turn expected to pipeline I now for decision. this

Johnson Lau

today. thank us Thank you, joining for and you, Joe everyone

cell be solid a a a Our focus play into to pure company transforming continue streamlined, data. continues to runway provide Athenex exciting for to XXXX deliver therapy with sheet to balance on

and We cutting we We made delivering remain us our space. up plans open further growth patients. allow therapy treatments cancer believe call our noncore on I These a leader future our questions. to expenses. progress the and to programs to of value this the us with those Operator? that be of additional since execute are proud be will mission we for monetization main the have to pivot of continue and ultimate of driver initiatives set will to committed in us strategic announced position cell creation bringing of and now operating on for assets successful innovative

Operator

ahead. Instructions] The first question Miller comes [Operator Thank with Jon Evercore. you. from Please go

Unidentified Analyst

Thank Do you. this is to spoken go path more approval have for on be you Hi, for Jessica you clarity any required? clarity rapid Jon would KUR-XXX any on You've possible year? go what either this is or do have bar on no what program, Miller. more this for a the about

Johnson Lau

Dan?

Daniel Lang

question. Sure. Jessica you, Thank for the

and XX We single of rate pivotal XX% is for GDX As have prognosis. rate A study a about the generally antibodies, because pediatric just through the with hoping with looking a forward a indication is a about the it arm will bar XXX regulatory to FDA pathway. patients study Obviously, GDX why on approval orphan a with arm plus antibody, you their XXX FDA might response XX get we final pathway. believe terrible similar of pathway be that XX% with patients, of doable. That's response they this to about regulatory maker know our something very about we're that's discuss FDA similar single pivotal pathway, the decision the is terms the to in to approval. are a

that of go that we go, level three saw already dose kind of square, the conviction think and I in terms a that no pivotal successful decision, is rate give high two maintain of our which on long per a that be In million we confidence and out X will response this since meter benefit will if run. at bar responses us at patients cells doses, in XXX study

Unidentified Analyst

you. Thank

Operator

The next with Oppenheimer. Please ahead. question comes Kevin from go DeGeeter

Kevin DeGeeter

on Dan for first can that should thanks through color if our or rate so potential questions. half likely whether think event? it's are? XXXX XXXX Hey, being XXX too steps the as we to just more not some limiting early, you us taking about a what IND walk half perhaps, of the And second

Daniel Lang

Yes.

So Kevin, thanks for the question.

construct. makes incorporate longer. abstract NKT describe a we'll submitted, persist factor the [ph] that very the going we're XXX they transcription This to factor X transcription [indiscernible] also So into BGF that and cells we potent the digital new

IND. done, once filed guiding As it. we're discovery, that's to of file to And doing enabling Currently, currently result pre-IND patents actually we this we're XXXX. the studies a the now around

or that half, question give an sorry, a lead the to, when progresses, or in provide year timing. be, have second me follow your me, Kevin? will up to first update we'll better sec, we remind of And half specific to as more is terms we'll As you excused color going precision have but your what

Kevin DeGeeter

that you me but sort ASTCT data the was and ahead follow when I submission, sort up as in some actually, of kind of So of of additional might really off to of cut here, presentation a and guess of of our scope question perspective the or sort be jumped on next the week? abstract available just is reminder

Daniel Lang

yes. Yes,

abstract. the data in is the all So

week, responses time of ASTCT, were CR and PR, on lasts additional one don't is in patients. for three DLX, data by the only year. have over one expect data a of XX XX. of actually two weeks, which couple Again, We and May responses, the next We a to three that have

So Kevin. that's have data we all the

Kevin DeGeeter

that one is take kind Right, if then strategic appreciate a just like more. to clear markets, and feedback I to just think Johnson, kind after then the to I -- of strategically? -- feedback. Johnson, to from it you and for if I'm value pathway of larger do can absence it a go mean, maybe MHRA, actually in positive And about that trying path and mean, regional potential I in feedback there's that of of market partners? the for how what slip happens it's

Johnson Lau

you a to in take and Kevin, then we MHRA then We we'll questions year, have to not a submit and to discussion involved the a we'll of MHRA. procedure like of know, then regulatory feedback say, as feedback last But with general, do quarter the communications to suffice the of you sort then communications. again. I ask emphasize filed they'll them think after November the for UK, requests, then the on amend Right. questions their evaluate provide and certain and announced consists authorities let application with that will like time, we'll to usually comment period fourth in regulatory usually then questions we and of me number we regard them and with and

these definitive are We and comment discussion not general we active should one are the I certainly comment on our constructive you more in be can you, have a will MHRA MHRA. discussion right regulatory we not with in in understand active, able hope discussions timeline to the to now. discussion. with And with that And

Kevin DeGeeter

my taking questions. Thanks for

Johnson Lau

you. Thank

Operator

with question The Please Karnauskas Securities. ahead. go comes next Truist Robyn from

Robyn Karnauskas

Hi, question. taking for guys, my thanks

therapy seeing as plans with possible? up? for XXX, are thinking can with the cells lot a to in about how players do starting Just to want are then what you high you're really really just Thanks. walk your NKT around this And you of depletion. space dose like Do lympho think that trying me gets you through that's

Johnson Lau

Dan?

Daniel Lang

Thank you, Robyn.

had dose rate. compares the That very we favorably XX cells very and we're square cells bus already level So are the CAR-Ts they know, very allows responses. favorable window a you durable profile. We, believe potent. and that's therapeutic have safety Again, drive currently, have variable because wide to of [ph] per that and us seeing we and response dose that second we approved against million meter why deeper these more a escalate

So going the to it's we're -- follow data.

level dose meter level XXX per cells Next square. million X would be

decide, we'll what's that best So data going the forward. inform as data follow we'll us the to and dose

cells, The thing these pulling are of because repeat you deeper dosing, have that benefit doable to the they're other to mention dosing. the in is able on response drive with repeat I'd the space from which we saw competitors like that on other lever allogeneic

explore. So three we something LD like like giving first doses potentially two to that would something or is the after

that LD, question second please repeat your relates you can to Robyn? So again

Robyn Karnauskas

ultimately for Yes repeat lymph which we're where reduce so was are people this want burden of about sort you of is lots to going lympho depletion. you the the want how of dosing, going, or have talking depletion, along don't to lines deal

and how approach?Thanks. you're that request what's the going to to front repeat thinking takes you going So how if about exploring of go in your alternatives thoughts you're time? because lympho the what are for just to FDA dosing for then strategy? to [indiscernible] sort that quickly And you're If of can do that depletion get

Daniel Lang

Robyn. question great Yes,

that the, and of of the do are from for see more know, is we to tumors, the we consider immune cyclophosphamide taking that actually some having take integral the killing a that just interest actually response very to believe is for is when the LD, and of in cells, And we fludarabine may tumor, away host believe occurring contributing we T if of in very immune and and a explore -- chemotherapy we toxic that very in the action response. really killing are activate cells. qualitative recommendations using the the want as biology factor part idea adding for they're LD, the will mechanism competitors of is intensive the NKT host the propagate to to that are have you to part additional NKT response. or will when they in that other differentiate away only studies, enhanced cell are we want immune we may If, we cells SAB really LD, NKT So, fludarabine, space where from wipe they important how our out an us host using

easily competitive. Hopefully, have regimen supports infusion will to we So an this if a have make will desire this more an even simplified this also simplify we is interest hospitals, data if will and can therapy it, the community really and the XX-minute access LD the because and very tolerated. LD therapy, we expand to outpatient regimen, they make it

Robyn Karnauskas

great. Okay, Thanks.

Operator

go Jonathan ahead. comes The from with Chang Please Securities. SVB next question

Jonathan Chang

Good questions. taking my morning. for Thanks

plans? longer-term the on of question the the efforts for this? allogeneic part autologous KUR-XXX, CAR-NKT on focus are also efforts Is plans what autologous or are First the the program, long-term your for platform your

Johnson Lau

Dan?

Daniel Lang

testing NKT setting for setting. cell cells therapy this more started studied you, Once baby for as in our we a XXX. Jonathan Thank the know that risk study it's NKT we NKT autologous the for human safe took and steps, an taking in alginate and cancer, first in then out the testing was and cells question. we Because efficacious, cells

as will setting. by there these a a to Going competitive this can autologous also in robust allogeneic that cancers treatments efficacious to no product XXX, CAR believe Longer-term, back proves therapy if to CAR-NKT we're donors, have platform alternatives. expansion be other the be that indication, are And express GDX consider onto patients potential from neuroblastoma GDX. year. because in approach NKT cases are pediatric GDX orphan safe, XXXX putting an responses there a label landscape really as about cell the because for the cell this pediatric a itself strategy, seeing We only is autologous we and as

NKT example, which the cancer, because introduce and put market large is hard onto we treat, solid approach, lung compared it's the CAR a to market, lung tumor. a relatively really is cancer to For can cell cell small allogeneic neuroblastoma GDX an small

CAR-Ts approach So give a or neuroblastoma meaningful to tumor important of cell multiple be an be approved where down and far, that's the can lever meaningful I potentially given in getting an lung setting. But your approach, the doses, the allogeneic autologous for lot cannot cancer. efficacy, taking had approved because in you GDX a more mixed XXX row have allogeneic answers we results like pediatric other one CAR-Ts a generating that's Jonathan. put and on dose. that into going generating first think prioritizing But solid autologous with then I for hope efficacy question, will than small explore

Jonathan Chang

second noncore that's and Yes, other that therapy are helpful. beyond other pipeline? cell monetization to question, extend noncore you. you cost could avenues being assets Thank these the considered of And And monetize assets there support cash your runway? the to cutting, what are

Johnson Lau

be the company all now, together of Klisyri, all therapy the support built other are is to the in our supply through cash noncore and certainly, when API, costs. therapy are soft, in assets. our the doing cell to regard approach these that also, focus to the now. build launch product growth supply the to we business time to reduce by And non-dilutive the the for process assets to therefore, is now, specialty also in pharma Right Athenex. the same focus the focus the related other chain try to be remember and noncore we to able assets. addressing oral with at can doing we that as of main developed we on and we of I shareholders of mean, extend the market the areas And And Right support considered being as all the that's what and Paclitaxel, support are have runway the we'll and the asset way, resources the chain did cutting of allocate be to to non-self this company it to be and debt right try of

Jonathan Chang

questions. Got for the it? taking Thanks

Johnson Lau

Thank you.

Operator

Yale comes question next The Jen Company. ahead. Instructions] Laidlaw Please [Operator & from go with

Yale Jen

for questions. thanks and Good the morning, taking

update aspects? future patients any the ASH the should update what KUR-XXX other regarding and of at size terms for anticipate potential In of we the

Daniel Lang

as center up KUR-XXX our Yale, working of this IND accelerate to expand And Medicine. approved, from We're far. approved have company that all this sets. and in going assured to replicate a patients providing to got clinical we're more two we enrollment. to guidance stand other conducted IND currently you a very with patients so very high sponsored not College to data sites hopefully back have The different study is we're centers enrol promising so a end, Sure, that by study of priority how at hard be is year many Baylor level March. but We single shared to

Yale Jen

penetration, of Klisyri, in market Okay, any that's quick the growth ones, this first one up do the Athenex given the follow of growth two more is maybe one terms the, maybe in in helpful. after And to quick anticipate this. later of we terms year? revenue And

Johnson Lau

then into little the, partner a every distributor Yes, our penetrating Almirall bit and the exceeding we very, very quarter -- according initial well. do market indicated from expectations. and after And already, the as I start sales the product is our royalty receiving

Medicare now, the D covered recommendation for is endorsed and the it by already with So by as also Part product well. AAD right the is actinic keratosis highest

Yale Jen

the question, last leveraging could one be that terms to similar is And if I-SPY positive, outcome step data of in is X it's thanks. next information? an is which the Okay, what earlier

Johnson Lau

Thank you, question. for asking this

Phase potential And study input X value there see a will big that positive. results on point, from the which this a a obviously, Obviously, will the excited. to us. to capital good be not the like trial commit they I Athenex -- can is own, good we would anti-PD-X, for think as steps. in the in require not I-SPY X is What do before very part I-SPY very X, own. this to the the at we get well be next conjunction done we obviously, deciding I-SPY are we the And is data unlocked our our it going positive, we on with very for is from way that on or if other on significant invest on, X as the if the are

look obviously, for this collaboration. to include non-small with And our in cell our the working asset anti-PD-X cancer, for to for partners lung or collaboration will the We I-SPY in to be realize as for both X unlock we certainly as the could this other well partnerships and can closely explore value opportunities ways value shareholders.

Yale Jen

Okay, great. appreciate and Thanks lot. it a I best of luck.

Johnson Lau

Thank you. Thank you, Yale.

Operator

question-and-answer over any like Dr. to for the This turn Lau closing would remarks. conference concludes I back session. Johnson the to

Johnson Lau

concludes joining our everyone, today Thank us today. you. this call and you, Thank for

Operator

Ladies concludes you participation. again your for presentation. Thank and this gentlemen, once today's

You may disconnect. now

Athenex (ATNXQ) 10 May 222022 Q1 Earnings call transcript