Earnings call transcript Q2 2023

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Operator

Good afternoon, and thank you for standing by. Welcome to Xencor's Second Quarter 2023 Conference Call. After the speakers' presentation there will be a question-and-answer session. [Operator Instructions] Please be advised that this call is going to be recorded at the company's request.

I would now like to turn the call over to your speaker today, Charles Liles, Head of Corporate Communications and Investor Relations. Charles. ahead, Go

Charles Liles

good release, and discuss today, issued we available Thank outlines afternoon. the press which www.xencor.com. to topics a at you, Earlier we today, plan

Chief is Providing Chief the we Scientific John Kuch, and will call John Chief Bassil we'll Executive the Afterwards, Officer; Chief up Officer; your Dahiyat, Development comments and Officer. and call Financial Desjarlais, President for on open be Valente, Nancy by and Officer. questions, joined

that the development I during call, results, begin, Before future financial and would management, operations, offerings plans this make remind you objectives research and conditions, course like conference requirements, future the product and we the Xencor forward-looking programs. to of including company's operating may partnering management company's market capital and of statements future regarding future efforts,

results of differ filed report that factors actual on report limited on in described forward-looking and XX-K those currently These current to of our but anticipated are on Factors including, facts, but and to forward-looking recently cause factors are materially information not to, results from contained Risk unknown and based events quarterly uncertainties historical the these statements based by Outcome and available our risks, rather on are other subject to could not in beliefs us. most forward-looking these section known the are statements, Form annual statements and Form expectations the XX-Q.

pass I'll the to that, With over Bassil. call

Bassil Dahiyat

quarters. call in because Charles, comments our having received past on comments then two positive abbreviated Thanks, and get to We'll afternoon. we've the Q&A and good brief have on the feedback

So I we'll think to keep that.

programs portfolio oncology of autoimmune taking multiple advancing next of we've with data with clinic, make disease and our cytokines and which that success in array for focus the simultaneous terminate, protein a on engineered the antibodies we and guide for we're by biologics. we of we greatest Xencor, our goal advance, room which tools we wave can on the our innovative let shots broad advancing so that built partner, internal continually engineering resources potential clinical programs in which modular development At we in portfolio

Now before pipeline, validation technologies updates costs. offset suite our provide of across and our partnerships, some into on which our revenues, XmAb cover we'll which heading development

label the earning EU approved milestone in First, also it if payments Japan, this up, to now spectrum sales-based the Ultomiris of and quarter, continues keep include disorder. in optica our neuromyelitis on $XX.X remaining to earned the expand Ultomiris is We in sales anticipate $XX would and million royalties second we million where year.

our in Notably, country-by-country we're geographies, global coverage see progress term extended Europe. to and enhancing in patent we've begun and multiple

also advance CDXX programs, to anticipate by bispecific collaborations we well for targeted both Biotech clinical progressing and with Our B-cell specific and the in CDXX Janssen prostate them of both testing. the are

as prostate allows that utilizes as or encouraging Finally, And bispecific very previously Medical Society XXX format Amgen study ESMO. targeting XmAb European data that's the noted presented an an response in at X of Xencor early now for multivalency xaluritamig, cancer or XXX for for Amgen's AMG in X+X data anticipate with antibody XmAb Oncology, AMG titles in from the abstract of we XXXX. our demands. PSA

also format nearly to distinguish normal lower XmAbXXX between to programs do selectively into is barely X+X identical higher cells XmAbXXX like cells, our the program. xaluritamig, much expressing more with same tighter over family format extracellularly. XmAbXXX in receptors with or like our we dial versatile this that of binding exposed we and and do expressing case the use to receptor tumor In high we a allows for highly avidity But

Development Officer. updates I'll it Valenti, turn this portfolio, over our on to clinical Nancy owned for quarter Chief Now wholly our

Nancy Valente

cell In experience, for selective are our cell PD-X T Thanks, Bassil. Phase light data we PD-X metastatic last encouraging X treatment competitor of We'll and advanced be locally or patients checkpoint cancer. own non-small starting lung bispecific we non-squamous that fall our vudalimab inhibitor. CTLA-X moving CTLA-X with with saw for frontline vudalimab, into

at will The study first vudalimab-plus randomize part patients the one of doses to different two one of chemotherapy.

having study data castrate-resistant prostate Phase to studies one part started will of of other initiating primary early and second ongoing We and year. in chemotherapy randomized two take recommended dose plan sites The the Preparations arms by get the with with cancer II pembrolizumab this the for in ongoing, in with both are from to endpoint we end against metastatic the combination our anticipate PFS. XXXX.

cancer study clinically monotherapy X gynecologic malignancies. vudalimab is and in Recall prostate testing defined advanced high-risk

study other depending we're on and subtype. in evaluating comers, prostate combination taking The vudalimab is cancer all

of designs, Moving unique investigators bispecifics, BXHX treatment bispecifics our novel XmAbXXX, CDX to with cohort. potentially two These or along stage bispecific and earlier a and fill examples are to available per with gap interest from X+X than enabling strong ENPPX-targeted bispecific, both CDXX dose targeted have XmAb in just approaches. other more XmAbXXX, us slots enrollment escalation

third ovarian solid also bispecific CDXX-bispecific submitting and CDX CLDNX second our in types later plan tumor to this to cancer targeted our IND XmAbXXX, for other XXXX. be a X+X We submit for internal internal anticipate IND year our an and developed in

protein Phase our Fc fusion we've study In engineered initiated quarter regard X XmAbXXX, this oncology. cytokines, potency in to reduced our ILXX for a

with release to to refer please financial press call for the results, and we'll Operator? questions. our Now that, your open

Operator

Thank you.

our question-and-answer We Instructions]. [Operator conduct session. now will

Goldstein Mizuho. comes first question Mara of Our from

Your line is open.

Mara Goldstein

given I and the looking can Mara that wanted just Goldstein. share. name it we're will going Thank to guess more limited you. on is, ask But is here? This we're the to is advancement fair advance, -- understand to that the assume see I Hey, this [indiscernible] that are data, mix. information Great. probably question at now a has I you there's compound

be you is patient talk bit numbers and can when the should there study, a the then about just around part you had I the of results question will whatnot? for vudalimab and little what And the second on the expectations cancer prostate provide

Bassil Dahiyat

Sure.

take first I'll Mara. the So one,

to we do many as include well publicly as know format subcutaneous Amgen disclosed in and to cohorts, with quite a well dosing So both as IV. their monotherapy deprivation study different advance they as that expanded energy continuing substantially Phase this therapy has this combination X

good that's that's And pretty commitment a a sign to good I that, think advancement.

I long today's think a that we in should keep always mind day Phase people age, in for adding that and patients and in stay keep in quite oncology, time. X

approach. I moving closely forward. to are tactical But encouraged, very they watching and their keep can't as So we we're speak specific

in we study, For guidance bit the results for Nancy give have would early from both our a little rough maybe the that. that we can and mentioned combo on of XXXX cancer roughly prostate monotherapy

Nancy Valente

we're Yeah. I excited. mean Yeah.

So responses, in SITC cancer. we're duration We previously responses there some where excited with last a of and few chemotherapy months. about responses presented six data at about of XX vudalimab long with And year's with and X were two X, duration then again, months. combination in prostate in Phase

now, studies These to chemo monotherapy have are enrolling well. cohort from that. in combination cohort. more hard and 'XX than early the right It's data some say We'll of the

inhibitor. combination and cohort a includes PARP remember, So both with combination chemotherapy the

as early we more So have from data cohort. some data longer-term or to data monotherapy well from that as the hope

Mara Goldstein

it. Appreciate Okay, thanks.

Bassil Dahiyat

Mara. Thanks,

Operator

One moment you. question. for Thank our next

Markets. Darout Our comes line next of Capital BMO Etzer the of question from

open. line Your is

Etzer Darout

little one, seeing? you're on it the on more enrollment seeing interest comment Great. the the bit Is to some of more around I just XmAbXXX. that know that first just if from investigators wanted sort pace guess I you're of a of really you could

your And CTLA-X? other maybe And non-small that then secondly, lung and may you. molecule just these Thank then are some the PD-X see in constructs about wondered cell in other specifically some PD-X what of clinic. we've cancer, from made you lung CTLA-Xs cancer you've if versus if that of seen do differentiating how the of anything about

Bassil Dahiyat

Etzer. maybe comment I think, clear, XXX, just I'll a the really investigators strong just the rationale think on and agent interest engagement that why enrollment Thanks, do Sure. that? to from want for to say yes, this place. and Maybe, be has strong and Nancy, you is on

Nancy Valente

we've heard product that kidney Yeah, comments really a for someone that they cancer. I are specific is mean developing thrilled

tumors it along because scientific to other is go with really with cancer kidney But there, there. included only highly in ENPPX makes them. So cancer typically, sense the are we solid kidney it's expressed studying studied

I no ever guess no -- -- one's done one that. So and

Bassil Dahiyat

think really -- good a mechanistic specific rationale and the of in strong the mean the Yeah. very agent it's a I I really given expression timely. And very targeted it's and tumors, fit, against RCC, that ENPPX is very, tumor-associated I think in antigen or renal tumor-specific

I'll competitors can for clinical PD-X, CTLA-X, need. of of cancer, structural why lung the comment on and maybe on Nancy piece maybe rationale your unmet more the and some on just To big comment there's question sort

really T there in engage you the the dialed side, have get binding response. only really each engage vudalimab of and so express PD-XxCTLA-X, Our on designed have both binding to T We well cells don't particular, target that was targets both much really antigens. affinity cell derepression to side, with the CTLA-X on you or to down

one competitor same And designed I the the selective both molecule aware for kind we're how and a only have which of when in in clinic cells that AstraZeneca, we with rationale that at CTLA-X. at of that's data, MEDIXXXX PD-X think rationale, think known looking very the important, we're particular, the about formerly really, that's as with highly the similar was and

the hope T is being to engagement that cells you're is you CTLA-X want. activating So cells reduce there. the don't essentially, your PD-X of conditional that scope The on

Maybe frontline you on want to why lung? comment

Nancy Valente

I'd Yeah, to. love

the looked sense we to escalation observed would in front we and it MEDIXXXX had I lung. at our go compare data patient into Phase the really we dose previously when line make and thought expansion, what So populations,

Our are pretreated. really heavily patients, particular, in

XX% median checkpoint have of inhibitors received prior although they checkpoint and two prior therapy, one a actually lines So of received inhibitors. three

much are and population checkpoint a heavily naive those where as different So the patients not pretreated. competitor than

a this be really to something we'll And thought concept. proof we see place great They interesting of there. provided So would go. maybe a

Etzer Darout

you. Thank Great.

Operator

moment One next you. our for question. Thank

from comes Our Sandler. next Tenthoff Piper go the from of ahead. Please Edward question line

Edward Tenthoff

really updates. very Great. I'm cool. excited you is the about Thank various much. This

study. again, will this you So where guys are you reasonable an to that you appreciating about think lung sort area when term, initially, it Or seek Thanks. is comes how be a to might of right it cancer, partner? now? size that Longer thinking

Bassil Dahiyat

Yeah.

chemo population we the data of us lung was as demonstrate in as safety far profile from in initial can certainly combo activity combination now, excited by by We on have in have focus I so with building to value seen would we think well differentiated want and hopefully, the we that large therapy. excited. frontline program see AstraZeneca CTLA-X right this activity their kind that really get the, of that generating PD-X,

focusing were sorry, us think it a patients. that smaller partnering Certainly, I want see, that two way or at beyond beyond later-line than when to make engagement I care all we is in huge initial within in think does to within about initial on the -- we that respond data better first the think populations because, to than years. of patients do of do majority standard therapy try -- the opportunity again, different relapse don't

of there's efficacy how think about is accelerate But would think things, we'll us things. added which have opportunity. could now at when safety that with partnership that So and it establishing this of a does the accelerate critical don't it scale make lot But right the scope consider we profile. stage our we

Edward Tenthoff

the Great, make update. That right. All sense. for thanks Helpful.

Operator

Thank you for question. standby our next very Please much.

comes question from JPMorgan. Brian of Our line next Chang from the

Your is open. line

Brian Chang

Can indication see second in question compete on to Hey, in for targets a one cell, new forward? my you're then part Thank to taking I bar need about give if to where this just for? us of much chemo. follow-up. have that you you're Maybe plus guys. I'm are afternoon. some lung. color thinking how your you're terms the you this non-small in shooting of Thanks the that interested vudalimab How given on a against trying program you non-small have cell looking push for delta for you. PFS the -- sense you pembro will And especially in

Bassil Dahiyat

Sure.

of quantitatively to note really do and Bar we comment yet the with on deltas comment that for think we it's powered to endpoint. how differentiate, seemed the that extension targeting think the we that saw we're we PFS on don't study. potentially why PD-XxCTLA-X want But to made I we're quite primary But success. that -- we competitor I the specific that's don't ready

absolutely address a little later. will bit We that

Brian Chang

that remind the early one more also near then on vudalimab What a as Can flow XXX data updates just the XXXX. you for other And maybe for? from catalysts recap data on out the look part the catalysts Okay. potential aside investors should of just data more term. us, or towards and

Bassil Dahiyat

Yeah.

been of events. ICOS expect make updates data has to been in that's we and cancer. which do certainty colorectal We of microsatellite want the offer get sort -- we've we sure not well doing we next our this we also And we have specific timing as would year, So on can PD-Xx But to on guiding we're really program, closer not until XmAbXXX stable expansion year, in enrolling cohorts. are distraction.

is the would also are expect data clinic hopeful year is things and to about CDX some which XmAbXX targeting our also our well. program We we then CDXX as have first from next by we'll program, our XmAb XXX our bispecific in which ENPPX to say have

on next partners, earlier-stage the our from which that's flow There's setup. their news to have flow. a comment We're programs for these will So going lot obviously of year. not own

we'll specific the to those to dates. the as XXX, and guidance watch closer and give little a for, Vudalimab the beyond are So get we things

Brian Chang

you. helpful. That's Thank

Operator

question. you. our Thank One for next moment

from Our Bank comes Stranahan from America. Alec the next of line of question

open. line is Your

Alec Stranahan

for my Hey, thanks questions. Great. guys. Thanks taking

couple Just a from us.

care on cancer non-small additional is for from standard driven by Is prostate vudalimab. is study that Or first you're this the Any of this? driving lung? the cell in seeing more thoughts the lung study study? not something there in Vudalimab cohort The monotherapy that's the including around

And then specifically, last given partnership color expect around from from any this you setrusumab just contributor a on that pretty Thank expectations second is was around big year year. it what question you. hear revenues,

Bassil Dahiyat

setrusumab the question. take I'll

Yeah. We the reported quarter. expect none. in almost We none second

not why can through Nancy go the So Maybe there? we on and be done. cancer the rationale monotherapy, expect lung strived to

Nancy Valente

with should Yeah. Most out treated are even that nonsquamous patients, just chemotherapy, it lung for cancer cell is checkpoint inhibitor non-small eligible turns of be alone.

PD-LX We're TPS going And there. less so look expression to we at decided go XX%, we'd than lower. XX% or and

the that's cancer also of world, chemotherapy that's used. non-small like part the where cell So it's specifically definitely lung

the are reasons. those So

Alec Stranahan

you. Thank

Operator

question The Thank you. from question. next of Please Pohlman standby BTIG. comes for our next Kaveri

Your line is open.

Kaveri Pohlman

questions. afternoon. Good And thanks taking for my

T kidney work just this ENPPX cancer see mentioned other first-line know to are expect what checkpoint inhibitors? you after expression, know has do to makes there cells molecule. tumor I opportunities? want but XXX, any you types well For where I a And strong attractive you for fairly

Bassil Dahiyat

Yeah.

in Desjarlais, CSO, all ENPPX. our that the I John think I'll let things expert take question. He's

John Desjarlais

Yeah. the Thanks for question.

then first-in-class So other in develop clear where cell a cell, for I tumor be very histologies other for better it uniformly types. the is there's ENPPX bysacivic. a could there like signal expression, could into once think It is few maybe but wanted we're way And CDX and we we we establish about companion strongly to high renal to guess prioritize renal with carcinoma. because few perhaps mostly essentially that, a expressed ENPPX basically diagnostic, a just we sure expand cell to

Bassil Dahiyat

And John, maybe question. the

Charles Liles

having checkpoint levels cancer, the T-cell with a you yeah, other turns interesting RNA The for Yeah, at markers, presence, there's of scientific it we aspect look inhibitor active much on it very it's renal histologies any questions checkpoint kind in your And one of expression that of asked why future have don't out being kidney consistent T-cell. the effects that of actually on think highest a inhibitors for you [ph]? progression with cell it's carcinoma. if reason impact T-cell the would immune

Kaveri Pohlman

Got it. Thank helpful. And one very on plamotamab. maybe That's you.

requirement think you But you about So us other you manage that CRS. avoid safety the dosing can profile? selected have? with of step you a schedule, step-up Do can tell to bispecifics this hospitalization

Bassil Dahiyat

we don't to how a know, know forward, collaboration have But I that take the do subcu you somewhat address Or mean, that? that's Janssen, say yet. much we'll does enough I with give. in we data don't of in So goal. Nancy, want to formulation the that context which moving I can detail limit our

Nancy Valente

that'll goal. be Yeah. Certainly, a

require are I there's that a minimal. some think of bispecifics that lot hospitalizations, some

you the that's much could -- Our at appropriate subcu that be Yeah. to we given so that's dangerous And it's sure the product I it's doses hospitalizations. and too go about make that reach would a our Plamo goal probably and have primed for step optimizing requires that really think such having having then hospitalization less amount goal. CRS, minimal not like the or. But like CRS is look And to as patient safety. the definitely,

Bassil Dahiyat

not hopeful, the we're enough We're in but to don't we haven't more than progress making we -- have subcu, share detail comment we're information good data to with and moment. got this

Kaveri Pohlman

Got. Thanks questions. taking my for

Operator

you. Thank question. for One moment next our

Our next question comes Zhu from Charles the Charles? Securities. line of Guggenheim of

Charles Zhu

I'll question your taking quick with the Hey, across guys. a pipeline. providing off progress clarifying for on Thanks for one vudalimab. start and

Could is cycles? One or Or schedule you? at frontline backbone. what intriguing cancer. XLA CheckMate have us color, X So they or lung remind maintenance more pursue cell regarding obviously, the that's of an a to maybe like chemotherapy you one maybe something choice standard in quick cycles stopped the non-small where is this you. this or two provide Thank

Nancy Valente

for standard a and schedule a is It's This taxane. non-squamous. Pemetrexed

it's yeah, think four given well. and as maintenance cycles. component I there is a And

Charles Zhu

-- maybe then another And more side Great.

Nancy Valente

With vudalimab.

Sorry, of with course. vudalimab,

Charles Zhu

And second you. for a Thank on profile Great. a this And the to expression of bit maybe my your impact differential profile view potentially I a healthy you. want more. of CDXX you more patients? could one just from What's psoriasis mechanistic volunteers XmAbXXX. scientific your over drug? maybe potential move And dermatitis and atopic the Thank as bit clinical one, for

Bassil Dahiyat

would John patient know expression known in might do I I would don't what levels don't John, profound know know it have CDXX expect strong that real and you information Maybe levels expression things. change on to that in want any we there's is more. on impact populations X that comment other those populations. CDXX to but about how a

John Desjarlais

there to Tregs our cell we therapy you XXX population be why expression. to capacity. suggesting CDXX that can and the Tregs I effector Tregs have to terms mobilize for T exactly to -- deficit deficit prohibitive a of when in into cells, of a there go think there's of Yeah. slightly don't might suppressive also lower to up of autoimmune I is But effector is to that's And expression but literature developed the have have going those anything CDXX diseases, you catch the some mean expand that compared better course, some actually Tregs.

Charles Zhu

Great, thank you.

Operator

moment The Charles One Leerink of question. I for comes our you. Zhu from next next Partners. Johnathan, Thank apologize. question

Matt Kemper

is Jonathan Hey, Kemper Matt guys. This Chang. for on

me. for one quick one Just

that study, compound are XXX there types you. any the tumor For evaluate any Thank in? keen are are the to particularly you investigators --

Bassil Dahiyat

ILXX at For think on exploring that sure the dose we're that the correct we to data. excited XXX, we I there's of and range, program, where want me tolerability making about. point, ones just right a mean, even pharmacodynamics But you do really this I I a we're particular can know a get that? get don't John, kind most

John Desjarlais

tumors, Well, not going because we're yeah, clear. more on since the mean, pembro combination, other across signal cancer, we're flip course. of I where do at we're And see for histologists be colorectal we sort much. like board, the known something, if Likewise, at will also But looking PD-Xs a histologies. responsive very few doing intrigued to themselves to right, in the by cancer are a and immune prostate side, look we're of XXX

net So on and a signals what we really the see want wide to this are. cast one

Matt Kemper

That's my really for question Thanks helpful. guys. taking

Operator

Thank moment you. our question. One for next

ahead. Peaker line comes of next Go TD Boris question Cowen. from Our of the

Boris Peaker

two my in taking thanks questions. vudalimab On questions. for have Great, cancer. I lung

compare the and specific, plus of chemo? by to Just to do competitor anticipate also you obviously, the curious combo to how KEYTRUDA safety

those in pretty on and drug question, psoriasis competitive how of you kind kind given the a And in do see derm maybe landscape this atopic indications? distinguish hot XXX, broad of a

Bassil Dahiyat

to those touch XXX off about the it indications to for hand I the Nancy talk Yeah, vudalimab. maybe before I'll on rationale

is there, safety pretty early. on thinking Our which

atopic treat enough of ascending course, cover to where population Treg So we get psoriasis and be derm duration what tolerable. Xb T-cell of where key and interval dosing for dose as it understand study dosing of -- can multiple interval selected expansion our with is is because that to our long we we XXX, Phase kind them a the throughout would a goal patients

T-cell of single-dose We saw what to -- dramatically saw improved expansion XXX for for we from relative competitors Treg studies. duration

the see seem hoping we're every other Treg So exploit ILX if to to week to dosing that can we exceed be programs at. competing that the

be So a that across very board. differentiator the important could

psoriasis And if accessible. and felt there's where because we because easily selected clinical can atopic response them want we endpoints samples, are with populations you we look well. in could So well-understood at and a skin. get number easily in derm is patients, tissue The enroll those even it's you the the large of biopsy

was the that rationale. So

think really psoriasis, the was rationale. particular mostly for entire in I that

the their really, one even a For an treatment end of of Treg population atopic excited with mechanism the data programs showing albeit derm of by efficacy dermatitis, in strong competitor but and had Phase Ib, really we was bit, atopic out in maybe we were initial of tolerance. small the our seen perhaps that durability surprising consistent function but beyond enhancing perhaps in

long to be down agents in durability might getting know we that of differentiate because soon. So or in That's be other that treatment that chase area every AD we to current week or sort could post atopic monthly an derm. wanted exciting to

Vuda pretty I'll your Can you Now Nancy. was on Boris there, long winded because that question let sorry? restate

Boris Peaker

do compare combo? as terms to, was obviously, KEYTRUDA just cancer, of competitor asking I to safety. plus you how No, In lung chemo it the Yeah. as anticipate well just in bispecifics

Nancy Valente

X. hard part And that's part without Yeah, that's to a and any combination. data line why the X doing that's of a we're bit in a answer --

just us safety what pentrexina X of the monoclonal happens. Like that a at So does antibody? allows then carbo. a bispecific part the look two standard And that combination of chemo look when see different we'll doses versus PD-X in you to like with add vudalimab to chemotherapy what

limited and to is sorry, it I'm a plus maintenance and vudalimab with and of not question, pemtrexate. prior we four It's somebody to And else. pemtrexate vuda, by cycles Vuda just vudalimab then clarify, carbo as dosing call mentioned

cycles. full it's So

Boris Peaker

for taking my question. Thanks Great.

Operator

our you. Thank for question One next please. moment

Capital from comes Greg Our next of Markets. Renza RBC question

open. is line Your

Anish Nikhanj

wanted the a on Anish couple of on views on ask on for your I positioning two just Greg. It's your sort guys. of assets Congrats quarter. of pipeline to here. Hi, Yeah.

with of CDXX, multiple do wanted you plamotamab's just competitors. see will among plamotamab believe approved. position combination So with How kind to CDX bispecifics

And right on guys of care, of terms now. in kind building question, approved just then But necessarily example, of for differentiation in with terms you previous lines would on not just see for XXX Thanks treated slotted atopic questions. poorly be in SKYRIZI, cetera. being that again. the Otezla, with drugs congrats or patients being controlled psoriasis much derm like XXX, so a drugs for And of Sotyktu, with might et

Bassil Dahiyat

positioning, this Yeah. are ones crux the attracted think we cost. same partner majority of logic a With and plamo plamo the as taking the of Janssen leading is now cost, that its the XX% program the of for on they great the

that CDXX showed efficacy moving say rapidly profile, I is I bispecifics really will I just combining IV. that provide We're combination that think plamo, And key could safety in earliest our at the the on the CDXX competitive the think, stages are with our differentiation. their with with and subcu. competitors there very

to to with other CDXX established combo better positioning probably established to monotherapy efficacy, soon the with in The hemocombos is CDXs. really initially be try leapfrog and just the

small that's to help do why like drive in a company. as which strategy strategy has get to scale heme And that tough capabilities so is to because were we partner a alone that's a and outstanding this Janssen, malignancy excited

I think for addresses positioning hopefully, the Plamo. So that

forward. This study. tie just easily what we For hopefully demonstrate of we action that enhancement Treg to to we that of and emphasize expect and haven't see of want any, to there's we indication is could wide to Xb indications very XXX, where Certainly, final indications Phase want is atopic autoimmune durability other efficacy a -- on be a depending play seen. we don't and to it's range likely where I -- are But have advance announce would role. we a we if go derm are Treg propose obviously a considering where in

to those down our we've would We nailed expect regimen. announce as later

place therapies. come And the going Phase will in have more this just that's is where example, for it an a AD this sequencing that to has, all indication enhancers, and not in to more, but that in certainly autoimmune we So additions of more to idea that not a commitment and is impact say like up strategy. a and happen more for of in X Treg arthritis. indications, expect other skin been huge say, in had do new I

Anish Nikhanj

much. Really appreciate so there. Thanks color the Great.

Operator

our last question. very Thank you for moment much. One

last Lawson comes Barclays. question from of Our Peter

open. line Your is

Unidentified Analyst

Alex our on Thanks Peter. is for for This taking questions.

program, what was on if of bispecific benefits the target of after remind ENPPX one be of I and you Just you. the Thank going a Astellas approach. wondering ADC same the the could us might some shortcomings the

Bassil Dahiyat

you one? do want John, that Yeah. to tackle

John Desjarlais

Yeah. Sure. Yeah.

programs it kind ENPPX for was Astellas In we fact, tumor-associated aware -- then once we expressed antigens. we looking a of when bioinformatic selectively dug the in approach of discovered ourselves became using And the literature.

Phase saw say, to have they responses I mean X. they had half I data. decent in

they had they orstatin dose-limiting Of ocular because payload, toxicity. had course, an

interesting that time an had that an Agensys Astella acquired that program was think Agensys. because was I

the it we the selectivity program. from target. know, decision the of from it And worked going that saw to But was discontinue what have strategic safety the and validation after target there, as folks excellent more for of of actually a that we

Operator

time, remarks. now Thank over the back turn to At very would conference this you Dahiyat I much. to for Bassil like closing

Bassil Dahiyat

Okay. very near we Thanks everybody, the forward much, for look again evening, and this us you afternoon. to future. updating a great joining in Have

Operator

for you participating. Thank call. conference today's concludes This

You disconnect. may now

Xencor (XNCR) 3 Aug 232023 Q2 Earnings call transcript