XNCR - Earnings call 3 2023

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Operator

Good afternoon, and thank you for standing by. Welcome to Xencor's Third Quarter 2023 Conference Call. Please be advised that this call is going to be recorded at the company's request.Now, I would like to turn the call over to your speaker today, Charles Liles, Head of Corporate Communications and Investor Relations. Go ahead, Charles.

Charles Liles

Thank you, and good afternoon. a discuss which today. issued we the we to plan today, press outlines release, topics Earlier and Development It's call President Officer; is on Bassil Valente, available www.xencor.com.Providing Dahiyat, and comments Chief Officer. on the Nancy Chief Executive Afterwards, forward-looking this and and John statements, be financial questions, for you product make we'll like Chief Kuch, during open conference Financial partnering we statements course Scientific regarding future call, conditions, programs. future may begin, Xencor requirements, joined that objectives offerings company's Officer; to including I the company's and up would development future will and market future Chief call management research efforts, your the capital Desjarlais, John operations, results, operating and by of of plans Officer.Before and the management, we remind Risk differ section recently described forward-looking and from actual on currently These current to to XX-Q.With that, XX-K by of call our to not the the but are limited our over results results these on of to, and Bassil. facts, risks, could are information materially uncertainties based events other those anticipated historical these statements based outcome factors available report cause and filed in rather contained on annual including, on Form are that statements, subject most factors forward-looking the report quarterly to but not in Form beliefs us.The Factors forward-looking unknown are I'll statements and expectations pass the

Bassil Dahiyat

a xaluritamig partner STEAPX. extracellular X+X dose expansion ESMO CDX a target RECIST bispecific exposure.Amgen Phase the presented antibody a T response and our and an highly with cell advanced XX% those been plans the is limited while earlier updates studies seen enhanced in high Amgen's additional and of kill preliminary treatment.The for to the enables lines with density, to early, further cells. sparing selectively in durability potentially forward higher rate engager XmAb conference, to X+X has more normal look X+X reported prostate xaluritamig afforded encouraging. address cancer. by antibodies therapy cells that I emerging our which and clinical that challenging on progress advancing class dose our engineering the tumor to study with cell T cohorts engagers created avidly long-standing partner.A array Thanks, portfolio resources clinic T autoimmune therapeutics internal data therapy to tumor and stringent which prudently terminate cell oncology advance, and competitors of potential.We're bispecifics solid the built for against which development multiple goal on recently simultaneous Charles. for guide a with engineered of the our greatest a disease based we allows tumors, shots Xencor, continually in both targeted XmAb focusing broad we modular, cash tools. status we At antibody and The We're programs from now of protein review advancing taking great tumors. we're targeted and engager us for we in studies we've in customization a in and modalities.At of targeting programs cell Amgen of format from recent opportunity during this shown of patients on focus bringing to solid T with data tremendous We challenge interim cell to bind and potential antigen CDX results encouraging optimization, bear has use the We with is

followed other for internal cancer in promise by CLDNX a by targeted Phase in immune costim window tumor range were to As door targeting reduced for engagers expand wider leading CDXX enhancing activation CDXX on our has second immune renal some tumors.Our therapeutic I and engineered of T is anti-tumor T this cell that XmAbXXX targeting bispecifics CDXX targets costimulatory of set opens T cell for are own accessible the using to activity been pipeline of to consequence, cell and tumor CDXX cells ovarian platform potency engage XmAbXXX co-stimulation Xencor in targeted modality the engagers.And ENPPX that previously a solid carcinoma, has activation. binding.

broadly further in and foundation both Our addition, CDXX to collaborative products pension bspecific for tumor Canadian quarter, were Xencor's modular BX-HX with advanced expressed Janssen, Ultomiris in diversified T I technologies, engaging partner, Innovative Monjuvi provide pipeline our our a of selling XmAbXXX, that Medicine efforts enables from programs, IND J&J and for a CTA one. our the Phase we submitting is candidate antigen royalty million We our the in solid an that domains these have a in which has a of fund.These $XXX added targets Fc B-cell future.As Europe announcing to our which in programs, value. created the to cell advance resources the bispecifics approach anticipate balance cancer prostate in sheet study tumors.In expanding is this malignancy now advanced the portion sufficient to of part to interest CDXX XmAb our building today, OMERS, and X we're cash our of

financial PD-X us engineering and us greatest also programs, sales to cohorts gynecologic the Monjuvi.We've has medicines upside potential of with offers of program, vudalimab ongoing performance structure of our potential execute tumor Ultomiris our that this and pipeline.We II to X lets supports XmAb-based flexibility fundamental development believe platform of income internal closing additional success. study. deal ICOS on royalty the from marketed drives deal from pipeline. are for and in that Phase Phase further which generated We're position clinical that economic innovations terminating creation our changes are the monotherapy to our made XmAbXXX, internal the retain the Our And by strengthened I x been partners, protein advancement our development

environment. rapidly data and MSS prespecified see cohorts competitive in efficacy cancer we colorectal not changed meet vudalimab criteria.And XmAbXXX in tumors, did For expansion for gyn a

by XmAbXXX. That's cost with in formerly have alfa, program to keep co-development as decided it to where patients drug.Now have of trial a along royalty our we clinical we at currently an shift in cost-sharing a supportive Genentech elected our structure. will into XXXX.Now but continuing of our out costs, continuing a runway owned for provide reducing the a Nancy including this program other it and arrangement of commensurate on reach when asset on we've program -- review clinical supporting deal, contract the provide Genentech, Chief on specifics we stage We license Efbalropendekin to finalized, a the opt We and study result studies, reductions enrolled to program expand, the our because of these to of focus development continues very plans. milestone to against Development with still split anticipate the to the per P&L programs.We're we highly and I'll wholly prioritize promising had additional the detail We'll would to with royalty terms development.As Officer. Valente, turn are are portfolio, of guiding cash over

Nancy Valente

Bassil. Thanks,

support gynecologic did from ovarian selective in First, mentioned, the targeting cervical closed forward with on PD-X monotherapy where competitive and checkpoint our we patients not in have small cohorts Bassil T our inhibitor vudalimab, as CTLA-X, the would cohorts moving and based rapidly enrolling cell II in data data study, that tumors endometrial, changing landscape. see Phase we

about would prespecified therapies.And plamotamab, bispecifics, on developed and of escalation. which in XmAbXXX this both is this escalation. those the and Fc safety monotherapy early Bassil chemo.Next, stopping We our a are signs gives study the PD-X, the In on non-small X+X an on cancer investigators XXXX, program cancer care J&J year-end. IL-XX checkpoint in not at lung Both licensed colorectal the developed observed in stable or programs. combination will being initiate study of to dosing Tregs prior our And threshold ENPPX XmAbXXX look in be IL-X-Fc have we in activity by psoriasis to and continue meet now randomizes of antibodies development.Before potency our study design care modulated against are track we advanced Medicine standard focus efficacy tumors CDX dual disease, dose combination dermatitis targeting patients ICOS solid introduced. escalation Phase in done autoimmune internal in inhibitor wrapping which a study remain on. atopic We our dose these x in In part of us XmAb standard x level in the the cell cohorts activity cancer, which BX-HX multiple clinical internally with with CDXX will by we're we dose and to quarter.Finally, XmAbXXX, study this our did moving potential are respectively X cytokines, among cohorts early further and XmAbXXX, and we and dose were activities prostate attention that chemotherapy. first-line with Expansion third to up continues to one programs, And pembrolizumab in enthusiastic second of and Innovative either that from biased anticipate began and Janssen.Now earlier-stage study, microsatellite other I in our clinical our work. enroll note with we development patients the

on continued cell a before really tumors CLDNX year work, selectivity for X third XmAbXXX this and developed a Bassil in clinic, The X, other IND and over to for the CLDNX T to CLDNX, bispecific X+X engager and CLDNX in CLDNX, really with so getting cancer and and critical. selectivity. an CLDNX with the expanding submit targeted x Q&A. into later especially moving CDX track are about into see one molecule other to protein internal that, especially similar this on item has also we ovarian engineering in X+X are preclinical We format to our selecting for more provides excited more more be types.Since compared progress tumor structure, our CDX. We're XXX CLDNX solid specifically X solid engagers.With and for X and XmAbXXX, beautiful avoiding And is CLDNX,

Bassil Dahiyat

Thanks, Nancy.

our pulling to IT those truly and how Investor also, through been oversee some who dire so to is Xencor years, X situations some led briefly encapsulate by refer of have over one point, please for financial press functions say, has John decades, a have I'll come financial we CMC related First, On the impossible Kuch, for much facilities, at out XX us operations.It on results. all person, note, at Relations, for release years years. relied over John to

we next critical for last As advancing and for we'll role to of questions. we up thank plans for pursuit medicines Operator? year creating month, that, announced new in the early and call in with retire March, him patients.Now his open John

Operator

[Operator Edward Tenthoff comes from question Sandler. first Instructions] line Piper from Our the of

Edward Tenthoff

and a of color sure of little with so means. it's congrats Bass, on bit studies the ongoing with John with kind deal. ton ownership development. the bit color you. get in all? the sense Does what to first, this fun appreciate terms you craziness more at best a you're of your wish more get internal OMERS been Does retirement. to your So going wanted working the comments I'm a all all miss change a I Just at all all? I to change stopping in the to plamo, that want respect little this about of

Bassil Dahiyat

Ted. Sure,

whose no that plan the a the whatsoever formulation. that is would structure our up X off on, pick that and hasn't finished when little with work Phase I. all study activities Sorry And I Janssen That deal ongoing we've The are their The completed last subcu would doing essentially was we of hands plan if years. came they the a from picking finish bit the an more No, this subcutaneous up had Janssen's for with Phase the confusing. always just we've we change then just update clinical up changed. work. the piece. wrapping It's development was We're themselves.

there's change. So no

the confusion. Sorry for

Edward Tenthoff

And are worries what ongoing remind that No one? at you all. us just can for studies

Bassil Dahiyat

internal subcutaneous where just and where expansion studying the for X for planning escalation program we dose filed with molecule and agents, combination we're multiple Innovation the on that CTA B-cell lead with the then the and Phase J&J anticipate That's a they studied wrapping that both that us. in would be they're CDXX up malignancy

we're step next hope. that So game been that's plan, we and anticipating always the soon,

Operator

Our next Leone Dane comes question the from RJS. from of line

Dane Leone

It's cancer retirement. the on Congrats on working vudalimab. It design little of best pretty a you frontline we with And over progress. the John, lung expand wish pleasure cell with non-small bit a the in the I interesting. study sounds you the years.Maybe could been

cut the the status, patient on actual population be burden, finding et would that think points, the I much envision? would mutational the be probably already how do questions to ex us presumably, tumor for would of study you X have with study an ongoing and idea an primarily. what informative?Two, could regards U.S. other And about, cetera, be design.Firstly, PD-X you prostate solid dose studies given that this

Bassil Dahiyat

pick the that let I'll up Nancy volume one.

Nancy Valente

Yes.

the into combination our to lot chemotherapy vudalimab So doses dose non-squamous. and going IB/II. cohorts information the between standard prostate Phase -- We different prior said, or from from X We're non-small of with X that I cancer. even of for different do take then dose Phase the of design those dose care and a have -- gynecologic dose a determination our cohorts is study study of make studies in X cell malignancies about to you as a escalation

these use doses to that And look we pick so to at.

The other the question part of was?

Dane Leone

like PD-LX status. population The patient

Nancy Valente

XX to standard well. in to to is status going the United yes. And -- and X study also the treatment. X ex PD-LX we're U.S. States And Yes. -- it's care of as We're it's opening XX%. first-line so

we do the plan enroll patients in to States. United So

Dane Leone

general Do this a initial of the next results would you of steps just when would time even point have correct dose? at be potential line have outcomes-based or that you informative

Nancy Valente

Yes.

when that would So we'd really to X then against to once to happen. to We'd the obviously, that move now portion It's the look externally. the that, Part and very And predict we X. share and hard data hard first. Phase right data, now. randomized pembro II we'll the at that It's have chemo. able when on see would we're process Part study right Part initiating be the in of tell X, come

Operator

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

Etzer Darout

for Just modeling maybe maybe just first purposes. the one,

the you secondly, sort you sort could residual here Just Monjuvi, We then encouraging any saw how maybe to receive the understand extent If about just would X+X. the deal?And of from we Ultomiris? at us upside of sort curious sort ESMO. think that the data for how model from you on of as or can help of the that milestones royalties on to XXX some residual focus AMG should

a signals maybe your other on wondering you of an sort that they're I if tumors. sort you the so to of far early, interesting wondering but sort doubling here down, solid other any just you're seeing you're really clinical see in that starting clinic. you're of will, Just kind of X+X molecules know like evolution of profile from if if

Bassil Dahiyat

on over deal. first answer royalty it second I'll before the turn Etzer. Thanks, question I to Kuch John the

X+X any we're their our forward of programs matter, moving disclosing like ongoing not our for Astellas partners So data that around Claudin of or any some programs still have XX.X. is ongoing

give will So carcinoma EMP there's renal need highly unmet and a great that we and enthused certainly we'll later.I cell really -- antibody. an remain data say our for investigators cytotoxic

about to metal. just we're to the pedal any trial yet. the But so not details we're And going share

the that? On deal royalty for the of and John, you some residuals, going

John Kuch

$XX from we for is or to milestone that we gets X, deal, the million which the get 'XX, we million could OMERS, the gets Yes, excess million potential excess. we 'XX.The that. also sure. received the residuals. There's Monjuvi, and $XX the OMERS earn and for July second which There's sales first we $XX.X sales, a $XX is transactions. to from the $XX million transaction 'XX payment -- of which million, the to any it's upfront received June Ultomiris over One $XX.X million goes XX, million Beginning upfront. XXX% there's $XX first X OMERS of Ultomiris separate caps excess

Operator

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

Unknown Analyst

all the Charles. for This ] on is Congrats progress. [ Rosie on

regarding I vudalimab. So questions X have

vudalimab setting, on provided regarding then you the for Could setting, XXXX. setting that for in is So for maybe data you're early you guidance cancer talk cohort compensated competitor from the prostate bit monotherapy how readout? non-small data you could frontline in the a the to how maybe bispecific?And cell comment and expectations little

Bassil Dahiyat

take can I'll first, to the So then one. the second and on you Nancy, frontline one one want take

to report. end greater we're to that So a have we're going going

patients and haven't the far, out So we've we out reported so numbers reported the of any monotherapy relatively trial. small of of trial

on zero in prostate going various people is as we strongest combo study we the So well of our cancer. -- about potential is landscape so think cohorts the numbers think the I terms setting of in increasing to we're can a in in monotherapy.And where expectations, just shifting the lot it's really as the in

very the but certainly a of that. we're of also the aware excited showing OR, think I we obviously, Amgen data xaluritamig made therapy, in from line thing, of mindful a similar XX% very because

number with at bar we where to looking think that bar be about this bit. might determining relative us I shifting so just higher a that we're follow And of a a is little And patients.

we don't that. than much I more too think So can offer

Nancy Valente

you competitors? think differentiating about Yes. I or asked competitor from And our

circulation. at data tolerable we of we so little be when some And try vudalimab chime guess, to in some to when competitors, compared potency but was it's look that is -- far so very tumor bit we our bind The have optimized hard. the But here, when data John and I that cells versus at look in are the a our Phase dose was to we competitors can checkpoint to idea have or -- have heavily the goes.The and reduced dose to what patients. expressed designed have patients often we escalation very T pretreated be I checkpoint-naive failed ways escalation, to very that itself saw these but to are or compared experienced.And also, as far as in bind effective, specifically it to duly also both toxicity would

that moved something in toxic So even likely doing products it's less as be when comparison. we we settings. earlier that, to the we that had and across into efficacy very so, with we the was at and by probably looked similar apples-to-apples hard to But thought do safety,

summarize how the that's I So would differentiation. what is

Unknown Analyst

there XmAbXXX. just you on multiple study? provide can maybe dose follow-up Is -- how on progressed And a with the enrollment has any color ascending Great.

Bassil Dahiyat

patients, study. Enrollment escalation to is dose. multiple go really you is next have that windows the time to The next the the it's The of cohort small safety relatively small. to not not ascending -- relatively line through really in all. number enrollment of in at dose driver wait the It's a the the level

Operator

of comes Capital RBC Gregory question the line from from next Markets. Our Renza

Unknown Analyst

I'm data, Greg. on particularly the curious This is I'm question [indiscernible] about have on xaluritamig learning events. adverse just the for and a adverse if class. engager. something for that do just within event level to curious you I you can And on mitigate the think cell that's if is acceptable the expected from the T if the that you for talk your can study?

Bassil Dahiyat

that. Yes, take I'll

think, program. I I certainly -- quite the think the adverse they of Amgen by aggressively the They're range saw, expanding are it's events redeemed acceptable. within

and one think I to they'll oncologists is think T used cell they're going things think cytokine positioned engagers have I not but new work of a community.They're used not not to community release checkpoints, there. on, cancer and to used they're they're because syndrome. is IRAEs of I it. to well get to the educating the prostate This about They're

the highly you we've the ago, of these to step-ups. agents priming about of oncology work use kinds saw broadly.So nothing it's them I seen we within years active emerge think doses community through when X adoption It's from and ADC or think saw, its I we start really new. saw And way more learnings well were X range. the we

corticosteroid, is thoughtful adopted optimizing prior they infusions somewhat You have that had a have premedication decades premedication the they're the they're then a next doses to higher. about routine they just things they stepping intensified usual And jumping just with being a that And that's them. the more Benadryl one someone when the before one be impact. dose the aggressive lower done big and did Tylenol, a a while from to for Rituxan people up of

add kind are So to the very and there, being we're of considering those things of. aware Nancy? Anything

Nancy Valente

agree. I

pretreated. a people expected. X have this are these And I really release strong. more Say have -- patients efficacy be drugs I it's comfortable multiply are The remember, deal does think is get a that of median it to as prior of think And cytokine you managing yes. that's won't it, therapies, breaker. class

a see response patients. pretty It's they to like So saw rate XX%. kind for of amazing these

T-cell moving very showing have patients because and this so great tumors, to this treatment which engaging as shows going And solid it's and the to of CDXs a for kind it that by other is forward of bispecifics well. role exciting activity see are in

Operator

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

Alec Stranahan

We've a opinion heard surrogate the consistent us. X seems patients One in Just that on some tolerated it good reductions for in PSAXX from maximally couple the more response, AMG XXX. differences although a as dose. on

response. on of got thoughts that I've about PSAXX, any then how we be So And terms should a follow-up. thinking in

Bassil Dahiyat

in good I with just they RECIST patient, with as do from emphasize we've I an enough tumors. not want set if that look people worked I'm I with data saw in think you data and look good I'm because let can see. not trials assuming know there standard it is years.Now xaluritamig the sets sorry, an And with not wait definitely of measurable response. indicator it, to PSAXX RECIST accordance to all drops, really thing in changing, of the to that that's question at versus been happening PSAXX I good that hasn't what at something at accordance that's aware individual the just achieve to comprehensive doctors you if prostate prostate that cancer I'm responses of to, we'll is over outstanding that was. specifics a it it your community aware there view of PSAXXs patient. RECIST are not, talked the in but is that program, in and concords thing think a let to data. you look clinical really the how

Alec Stranahan

a just just that this the it. maintain in decision -- Got the it another the do royalty of terms sale. then Just on more to opportunity. to of Okay. on option your X financing get one and trying upside to And That's assets? forward of sense Is on the What your the expected may the pull at important how was disposal, versus you conviction the economics? helpful. have

Bassil Dahiyat

because I data think on the to still coming that a there's there's evolve. it in And I sales. upside Monjuvi lymphoma lot as momentum assets for a of was very lot the certainly of important Ultomiris continues landscape to in maintain think

the absolutely caps to it total for the Monjuvi around caps And sort have critically was deal, equity important annual excited the overall of for us cost engagers. then capital so did And we we got the cell think think we've that because in both Ultomiris. of now I T want by it's and for to We're molecules.I particularly the why a invest markets programs challenging. is that very these of lot in, cap

do all deal. the since together. side the it So to we're the markets royalty this both and it timing X right is and the made we now now when side, looking from started need came always years sense monitoring for, our We've was and when gosh, for been royalty deal

Operator

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

Unknown Analyst

for on is ] This [ Nick Boris.

for But targeting looking at for some I mean, one for that's quick are an lot companies BX-HX, a space kind now become know are it's docs. who a XmAb our of BX-HX of people, Just interesting me. for there like XXX, I

could potentially and -- that difference just that. So I on thoughts BX-HX what just about BX-HX. between how like versus you and BX-HX think What BX-HX wondering outperform was general guys the

Bassil Dahiyat

includes overlap when for on CDXX, But over-expressed called are in. they're the we ADCs, in forth. look T -- or so Yes. I non-overlaps lots they which some have mean they're targets cell family, engagers of mean is which them but so and of BX at like kind that histologies terms PD-LX, part really different as BXs they of reason are CDXX, the I X targets.

like a a range cervical of cancer, over-expressed as BX-HX histologies. across think BX-HX a being marker, think a as cancer wider much I triple-negative whereas I broadly

Unknown Analyst

Would going then? helpful. you think like that -- into about line is the That's a later Or BX-HX ever down

Bassil Dahiyat

-- would engagers. targets we're thought it. I, finding about there's on And Phase internal I that we cell targets -- a T certainly in believe. already prefer a placing is cell to tackling. lot I we're for isn't And T work BX-HX novel investments somebody there engager CDX of else We've mean already making on our

Operator

line question comes from Our the next Barclays. from Peter of Lawson

Unknown Analyst

This on [ Peter. ] is Alex for

XXX, dosing formulation? bispecific the IV on subcu escalating program. are at still you patients dose the this ENPPX Have -- you are formulation with started Or you Just just point? with

Bassil Dahiyat

-- I it, subcu don't honestly, on today, and that to have just medical expect opened know our know. imminent. as of but to We've if started, the lead very it's text have I don't one. We We'd

So if parallel. to in on shortly first going up and planning We're and We the it's not today, on them subcu. the get running very, wanted running IV very at just knowledge. a the parallel. going with get of no, way, little then little a rolling. But data, get that the And the start bit ball to we could subcu boats to go

Unknown Analyst

Okay. Great.

at would that And so you recommended point? a II dose I when having Phase data, report Phase you anticipate

Bassil Dahiyat

could for second. I'm distracted a was I you repeat? sorry,

Unknown Analyst

Phase a you No would worries. II report dose? recommended data, having When you Phase anticipate I

Bassil Dahiyat

That's the idea, yes.

Operator

comes next Mara line the from Our Goldstein of from question Mizuho.

Jiayuan Gong

Gong Mara This from is Goldstein. on Jerry

eligible and indication? vudalimab, positioning bispecific to that you thoughts share that second question, given in the you cell, when for could are on renal receive CTLA-X in PD-X competitor be XmAbXXX, might milestones? on And First your what expect candidate data to

Bassil Dahiyat

a of contracts that usually of touch have of I RCC. we licensing and on if have is just standard I'll disclose to to development first, we the how the and the We're vudalimab, I yet, -- XXX. is commensurate understood in So timing But sort properly, for expect positioning when you unfortunately. lot details about amendment milestones commercial as regulatory conversion, the finalized.For finalizing a development and we with a disclose course, question speculate details we'll, your of couldn't do and contract and have structure.

Nancy Valente

Yes. Because reset of the ]. [

Bassil Dahiyat

right. Right,

take Nancy? one, that to want You

Nancy Valente

I Yes. I in we're that the products say renal. XXXX aware mean can't of --

efficacy. looks names manageable. is high these it's are It like of And great interesting Some it toxicity -- with challenging. very

tumor And cells.We pleased few going product be it after data showing types. We're ago kind types. on to into And I -- that so us a to in Phase are added in go is checkpoint was and into it were helps cancer now. to different some decisions a we we're tumor another right which lung go year. mean probably activity important confirm -- same not product class on this the I based We're to helps a into. last tumor renal this. add in types resistant eventually, decided some going of into made span we we see that of were going years as It checkpoint type tumor a sensitive that's that's not vudalimab the where and that we like

Jiayuan Gong

it. CFO may more target question, best ask Got John, search? And your in to I When also one expect do you if new a wishing wishes.

Bassil Dahiyat

Sorry, expect search Yes, is long we now. what hard replace the to going John. to starting search right to We're This a -- starting search do you are now. the when? be right

to ready So to going now we start if got end we're March. be by of

Operator

question. our One last for moment

comes Our line the last of Cheng Brian question from from JPM.

Lut Ming Cheng

the John expecting forward But sometime to of recall XXX, you in data also we next just year. to looking may that in sad reconnecting early be go, I psoriasis part see the some future. on

specific do can also, that where timing strong have data can program you we So psoriasis terms conviction a score important? think a into PASI been just of as this move read? score? about diseases about using ground narrow Have you of to testing as should to are you aiming what other the timing your you a Treg you the in is the talk the sense What mechanistically, -- for, XXX is, have also expect of for guidance?And so PASI first as of able you the

Bassil Dahiyat

I'll take second Brian. the first. one Thanks,

biomarker peripheral have as gather because to which the volunteers. regulatory to on biomarker don't in a opposing data critical So count, not that peripheral to, multiple blood reasons, healthy from is we data, types population -- you we've Treg could have want dose setting cell always the patients, biomarker the psoriasis intended in do we our is expand where

as dermatitis mentioned, and and way was we've potential early driver. last and class.We well, interval to did it sort both since dosing durability as competitor -- we additional small the there way was disease the a And want sort so are very difficult of So of a onto of population, indications. and score sorry, escalation. to on AD. targeting based dose that's around have and there durability of course, year a to Treg Once smaller -- I other with biopsy psoriasis to numbers That's if program a done is psoriasis be and that large in jump from get set long-term ready very we rational been the PASI potential at and than the counts been dose that of you saw guided think potential samples disclose something glean in we to you indications, easy looking go sort to started.We access the as looking off we've we'd information.So next data closer time do a great to case the those numbers remitted intriguing generally atopic the in we've as we're as But to get in we've, challenging that rather to select add trials. to of glean long-term always for areas think for

fill to we'll still we're guiding timing, for and in when we there. you XXXX, get As

Operator

remarks. would the Dahiyat for it Bassil turn concludes I to back This session. question-and-answer like closing now to

Bassil Dahiyat

say to wonderful I'd so just afternoon, joining have you everybody, this for and like us to much thank evening. a

Operator

program. your today's for conclude conference. in does you the Thank participation This

may disconnect. now You

Xencor (XNCR) 7 Nov 232023 Q3 Earnings call transcript