LIFE - Earnings call transcript Q4 2017

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Operator

Good day ladies and gentlemen and welcome to the aTyr Pharma Fourth Quarter 2017 Conference Call.

As a reminder to our audience, this conference is being recorded for replay purposes. It is now my pleasure to hand the conference over to Mark Johnson, Senior Director of Investor Relations. Sir you may begin.

Mark Johnson

Thank you, Gigi. thank quarter joining operating and corporate and discuss today results everyone update. fourth aTyr’s full afternoon you us for to and Good year XXXX

CEO; Sanjay joined we some XXXX for Officer.Sanjay immuno-oncology Scientific well next sharing Society for our by an couple are from vision be highlights David that Dr. presented overview ORCA strategic and our over We President data our today from will and as for aTyr and ASCO-SITC. his David American provide Chief of important the early Dr. will King, of Oncology, program as Shukla, Society Cancer the recently at Clinical XXXX. of years or Immunotherapy

program up Finally, before financial Sanjay will the an to on provide disease review opening and results update it ATYRXXXX, session. lung question-and-answer the interstitial our

or obligation except risks speak law, Before Company’s SEC except XXXX. issued that the the in the disclaims placed under forward-looking made facts filings questions aTyr Litigation the remind be forward-looking call Undue quarterly included we for the statements, the Private Sanjay. Reform like management as are should and events statements on in such I uncertainties see forward-looking begin, statements most to of reflect Provision Form-XXQ. circumstances. change, Company’s underlying of any close of as these facts, forward-looking date the required I to Please will market forward-looking annual and involve Safe by on turn those may results call to update and materially release statements Harbor These forward-looking to Form-XXK actual now information, statements. and reliance the that response can in and conference disclaimer statement over by today, as statements as future historical the on everyone Securities as Pharma would this the made statements to circumstances of are report earnings and to differ press on well Act the cause which reports from risk factors of they recent after our on only not statements

Dr. Sanjay Shukla

with Thank everyone. for discovery innovative mission. you, biotechnology a the aTyr medicines clinical refresher to of on everyone aTyr start Mark, good Company, our brief engaged in its Pharma I’d development a like and immune afternoon is activities and using stage clinical tRNA of A number synthetase a of gene. unknown. noble in functions aTyr synthetase of XX protein knowledge Biology. more that discovered derived family has ways were other extracellular function tRNA and that influenced previously than of genes in from

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focus immune for provide programs. to component. and our our of ORCA a evolution XXXX and as of on address Today, we R&D diseases Our programs. targets will candidate efforts Resolaris year immunomodulatory was we ORCA, its XXXX meaningful pathway initial pipeline on product updates our within Resokine our ATYRXXXX, Company

ORCA potential unveiled of year, for Resokine a pathway program antibodies as and half of target development of this the treatment program on last focused cancer. the we the In immunotherapy to is Our the selected our January, initiated of on presented and data of and in year. the panel program support more to anti-body. Building expect at ASCO-SITC we our initial data publish development subsequently this present in ORCA of second

trial an repot in remain XXXX diseases. has diseases the we Our run focused in candidate line volunteers. fourth enrollment second therapeutic as track to on that with quarter, from clinical study In of indicating our immune-mediated in we the first early with is year. results a quarter our the utility to potential top on protein ATYRXXXX translational report candidate treatment interstitial of development and lung engineered of for smoothly therapy healthy I’m research this initiated happy Resokine potential this

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Our trials activity. of exploratory early signs -- our produce exploratory encouraging

and made financial otherwise we to decision not Based unless resources currently have advance strategic or partner. portfolio program this However, we development this on XXXX. decision, spending secure we our internal significant the have on are prioritized not

about strategy development trials. to our and latest of both We promise programs of are advance our these potential programs stage excited the ORCA XXXX into in

And assumed ORCA and in March as I for work impactful has the then, been a Manufacturing; Scientific extremely As to announce been Officer. today proud understand how Ashraf and high promoted a of Resokine therapeutic research promoted to This President President, Senior has of strengthening Biologics and us to Chief XXXX our I’m team. Amanullah happy point company current programs. research will November quality to better our as as that Vice and clinical may all our utilize I’m produced programs. to and translational commitment manufacturing I we that research our across by intervention and as King and XXXX and Medical both David pathway for Development a recall, of joined of mechanistic better you Chief aTyr have to allow my position future made role Since in CEO. XXXX, development Officer to ourselves

program Ashraf and Ashraf he CMC level CMC the has has enabling and roles all of and joining outsource built and expertise, and make discovery Celltech Medarex, our of manufacturing immunology our for leadership and Under at and development has AnaptysBio. Gilead end levering our instrumental at senior and of us to since manufacturing enhancing decision. microbial transitional of held development programs September capabilities pathway. XXXX experiences world-class joined in culture in advanced Genentech responsibility XXXX. David leveraging, gained where in end both November built been the have ability to Resokine protein significantly actively internal since chain. also better Ashraf cell then of of his up has his and supply we and development led all biologics therapeutics the David organization. aTyr, at and understanding device At of built our Previously, for

and We this introducing this we scientific have publish publication year. into initial in our that at year Earlier of ASCO-SITC. to ORCA pathway Resokine plan January, conferences a and number data program present this insights presented we

to ORCA presentation I’d Officer, King, Scientific and like turn our and overview of Chief David? update to it our on that an over program. Now David provide share to

Dr. David King

pleasure. you, It'll Thank be Sanjay. my

is cancer by pathway ASCO-SITC cancer pathway our experiments potentially the Resokine for In the the in in highlighting evidence early up first a through also mentioned, of patients January of Resokine act pathway of of pathway anti-Resokine link activity activity across introduction our many observed link It's We ended comparing as in which immuno-oncology patients experiments of using types, I place can time remember antibodies antibodies that the a of vitro biopsies, important some measured XX in in it's Tumor up the to efficacy that, different We in the of syngeneic in Resokine immune as scientific Resokine antibodies types the an regulation be presence of cancer means opposed the to preclinical of past tumor across melanoma in the CTLAX block Resokine potential these believe immunomodulation. present in various first to other the on simple to liquid the between anti-PD-LX data a of present data We to that mouse The presentation community. tumor preclinical opportunity and anti-tumor the Resokine provide Resokine of with the described held was hypothesis agents. with of that elevated pathway. required Sanjay growth anti- BXX-FXX highly data these measured at As supporting and Resokine can potential responses. conference publicly antibodies. healthy levels model. circulation, our the have population highlighted Resokine from in San potential ORCA volunteer. presentation and levels and we over be we biopsies was in for the Francisco. role patients, anti-tumor vivo vivo program in cancer target. We druggable immunomodulatory The to XX important days XXX Resokine tumor in levels combination cancers over suggesting regulation defected the the of compare research the

lower Our excited combination Tumor lowest the group was anti-CTLAX growth analysis appeared compared immunoglobulin treatment in treated trend groups than and tumor the anti control see group group. both a we through gene. PD-LX, non-specific significantly to the treatment were animals control group treatment anti-Resokine growth a and with the treatment to the with of the anti-Resokine

of Resokine some other targeting or American highlight antibodies models, for established XXXX checkpoint have outperformed Research Cancer those number animal meeting our Association and we at in Chicago. in April of in to the inhibitors findings Now, the upcoming plan also ACCR

potential compared to combination studies the We present established suggests will some even therapies monotherapy. improvement both that also with

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Dr. Sanjay Shukla

This FC only the ATYRXXXX interstitial program disease. of human with so anti-body. of domain protein are our of generation number Thanks immunomodulatory agonist the the FC this domain for and the is terminal was David. by therapeutics delivery pathway Resokine fusing approved a Resokine lung modality protein the developed next exposure a using treatment of being good to end for characteristics. developed potential to region FDA to of fusion making proteins, There well-established

exposure have long terminal end and Our that IMA administration exposure -- long verified XXXX immunomodulator in vivo domain the prolonged results and experiments or activity.

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is was American provides future of previously knowledge highlighted, Annual XXXX. XXXX schedule top conducing additional In As May by its fibrosis indication XXXX line bleomycin a information in to XXXX. Preclinical to activity DC in of quarter selecting in trial for plan for in preclinical trials study we expanding of our and potential the potential evidence utility. a to models second in the elucidate parallel, for or release us several further this programs. presented complete ATS model, on Washington Meeting This Society best for optionality track the pulmonary the XXXX Thoracic a data clinical our are we at in clinical

supporting utility be In addition, in work in ATS San meeting will this at XXXX May. lung more presented in preclinical diseases year’s Diego interstitial

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million the were XX.X million financials, Now X.X expenses expenses ended XX.X ATYRXXXX. for million end ATYRXXXX, the quarter, with million for compared trial trial XXXX. of for costs for compared quarter for for the for clinical the R&D were for XXXX, to XX.X offset X.X the and G&A in of the full million partially The related and X.X driven to we compared in X.X initiated with at XXXX, XX.X million and period by same million by for reduction related certain the in related in year the million clinical the and R&D XXXX. XX.X cash to year decreases million were the full increases The of to professional of by expenses fourth the our XX.X based costs and million investments XXXX, compensation primarily fees. decreasing primarily were departure to quarter non-cash stock partially in same XXXX. period officers offset year manufacturing

We’re to cash financing ATYRXXXX and year, allowing ORCA programs through patient runway, both our pleased last us committed developing our expanded are have successful and to trials. that we towards meaningful advance

from results complete trials line patient from select and indication we In our addition, areas our Publish the scientific biology and of for XXXX achieve To of initiate new activity for top to XXXX. work to understanding over and months, mechanism and and forward, pathway continues expect following Phase biology work the summarize XXXX research tRNA its of volunteer ORCA the happy key potential position will on our our of trial for on of and our X best our synthetases of advance research tRNA believe translation towards path a synthetase the team development synthetase different updates for models. We year new different action, will extracellular us translational key towards on candidates, healthy finally scientific prepare specifically at be delivering our therapeutic building elucidate the the tRNA patient science product trial, further clinical updates questions. XX Resokine tRNA foundation, program our of the believe I from announced next President candidates. an on for your conferences, remain in ahead. XXXX our successful efforts on knowledge innovative months right to delivering the therapeutics the this meaningful focused genes. discovery to of trial we these a milestones based into take and you based we mission Thank develop on progress and clinic. the confident our be forward look biology, time, We David our in everyone. updating will upon synthetase you At to to knowledge

Operator

first our is Luchini And question Mathew instructions] [Operator from from BMO.

line Your now open. is

Mathew Luchini

assuming for to or looking to the it. do when And in And basically profile study held indication X Phase Phase might potential human for talk from And be a we And X a an about think little will the a and announce communicate how for more that volunteer the you're do into that the as do for you safe want for more which So, XXXX. profile press then couples how you to a confirm expect think terms bit when can we you we meeting? please, that a you first moved means, product, healthy shows show that you be from able tolerable talk that about in study, that's bit a obviously, so goals Could study? little that timing do data you data yes, to the me but point study. Thanks. of of view? to it about be and you're medical relatively, hoping expect for, release information, a

Dr. Sanjay Shukla

Phase think trial. first I X with off healthy the volunteer

in the has think is, here pointed pay focus ability want a safety the you trial think As attention in but to confirm dosed for once we look first one that and robust be we really out, XXXX ability to to PK key other We month. this to things is profile. have XXXX a tolerability implement patients, the to as establish to prepare area I

month the be for we us particularly potentially X attractive. So could to box dosing once PK have a work our -- I could a there Phase data, schedule think enabling support looking could at that and that getting our check we

in element is So which question. we With some be ATS want information I that's we important second Phase be trial. to that mentioned, additional as I readout out your press information that regards in to with with think communicating the we'll conjunction an When X, May. in that that, top coming I think would could line really release there

as state us, indication. around X provide together plan is we will community, Phase is affectively there to transitional but to a an them Those expert with then I a this think the with in our with work focus experiment. complete work experiments Phase conjunction I number Phase data, can medical Our evidence trial, a X X of and said in of program

provide us we’ll ERS company as updates ATS think in have meeting September. important coming those I in for months Paris the after in think those In and we read another when out. then I a in particular,

think I be those indication that the for us So guiding time are selection. important points towards to

those rather information part releasing be the to meeting. releases form than of we’ll this So, anchors more press

for So, active meeting at. I will us important think be those that we are

Mathew Luchini

And the behind And Phase just remind you that remind just X? the talk briefly me us doses rationale can or are them? the about in

Dr. Sanjay Shukla

of did number single obviously Sure, per studying mg standing looking at potentially modeling and data. at work on per six a preclinical so cohorts where mcg up X kilogram. experiments we early out that got can We’ve kilogram X.X to dose study, in

Operator

from Morgan. Our next Cory question is JP from Kasimov

Your line is now open.

Unidentified Analyst

guys, Cory. for is on Hi this Carmen

So, expenses given composition in changes the is G&A? ramp about throughout some XXXX XXXX with of first, and of think you operating how all the perhaps should going this

Dr. Sanjay Shukla

clinical a a to one-time planning picked that fourth are you With non-cash the planning protocol, I our I've looking our at costs, bit Well, regard Once some XXXX quarter. guide mapped expenses, indication With we’ll for of have of to that sort we’re amount G&A the as to now better able that. be may little in regard came costs on XXXX. up to as course we’re selection. actually out year -- as around of working think probably we it’s on we have the

primarily we into non-cash As of brought compensation fourth those the quarter mentioned, XXXX. that I to related stock-based increases were

Unidentified Analyst

what point out data kind interesting disposition? in presentation been of coming of resonating the preclinical January, so of the then most far data that’s has And

Dr. Sanjay Shukla

Yes. biology, all, points the types I nearly all a pathway cancer so be the novel of over unique patients a that that, data seem out of think with fact and it’s I across things pointed tested first regulated are Well, couple up that there. David we it’s think has, it to XXX

So I lot certainly a of novel think pathway folks have the fact that a it’s interested. gotten

the I circulation kind that’s can community in and our track expert have that liquid approach, biopsy the to really we also particularly to potential it in be think treating have Secondly, of

Unidentified Analyst

Okay, thank you very much.

Dr. Sanjay Shukla

Did to David. you of anything kind just was say, want add to I that?

Dr. David King

I think is established think I in quite quite to data to attractive. from just would is efficacy that that most to good compared of difficult covers also I anti-tumor add, it. treat checkpoint model therapies

Operator

[Operator instructions] is And our from question next Citi. Beatty Joel from

Your line is now open.

Unidentified Analyst

calling This Sean ORCA I in for your on program. questions Joe. have two is

The program? ORCA What syndrome development support with learn from we first do anti-synthetase clinical is. patients would that

Dr. Sanjay Shukla

Sean. Thanks

very invasion typically you interstitial myositis, primary that's on anti-synthetase your less our this where clinical in circulating Resokine, in findings, and So around a Jo-X immune patients disease, that's good syndrome lung lung is to is have fluid When patients The go antibodies it those these of break happens develop you patients syndrome knockout, T-cells. infiltration more antibody tissues develop a and the when can what rare in but us part. presents syndrome. if especially are sometimes patients or And those hypothesis. muscle they essence tolerance. interesting, a a pickup antibodies, see some developing occurs rarely And release what dermatologic

in hijacking disease believe antibodies to With that clinical to gives around particular from to the So this tissue against certainly ORCA, unleash of we in themselves as systems. T-cells this immuno lot targeted directed knockout shield regards against hope tumors it's system those confidence harness that Resokine the we a that T-cells. pathway, two us

you really see guided hypothesis important is anti-synthetase by very our that knockout, real in syndrome. So clinical

Unidentified Analyst

the prognostic anti-synthetase that, syndrome a to there? that disease any very there although, itself. Then rare helpful. also it's in or patient very quick of is follow-up had rare a clinical But is any any, That's anti-synthetase probably data cancer information

Dr. Sanjay Shukla

mixed years. consortium, year, they not group they data. there. evidence question was this last explored looks There's and this great meet really they one asked every enough Another enough haven't That two the into of questions myositis the really that with

community work I point as correlation be There you has to yet That doesn't bit figuring look in be think direction. evidence seem that this but data bit quite us point more a a I just at on to suggestion a is still more out think there, that could to that working little out. enough question.

between adults is pediatric distinction they're the and on. working cohorts that think data that I

Unidentified Analyst

the follow-up progression this the diagnostic point that. ORCA to you, of kind you really Thank is what quick at and prognostic? kind tumor will do see And to it liver I you appreciate does elevated live to the the question. question biopsy of more do or regards get in this is of really then see In previous third point program, biopsy

Dr. Sanjay Shukla

to one? going take Sean's David, have answer don't on to David I’m why question. that's that question you

Dr. David King

great that a That’s Thanks. Yes. we’re actively but that We something don’t investigating. that's yet, question. answer really

don’t that We hasn’t detail. clinical hope understand are soon. we question, we level have to we which at we that question. can patients, yet been of good history been far the that that -- too at looking so haven't have But so that but answer data moment as The analyzed

is Our therapy a assess select company or diagnostic along regulated have patients but any is of course that primary triage obviously the focus you maybe it’s of good and with as therapeutic you measurement can accompanying go the program or help some pathway. diagnostic, to developing

that So, in of research those we’re exactly types answer area our question. continuing to

Operator

remarks. that our and like final you Thank Sanjay back session Shukla call to Dr. turn Q&A today. for would his I the for to ends over

Dr. Sanjay Shukla

for program Thanks look as and Thanks everyone again. advanced. much. very time attention our Thanks providing and today. We to your updates forward science

Operator

And concludes disconnect. gentlemen, in for day. conference. with today’s and thank participating the that, a may you you This ladies program Have wonderful and all we

aTyr Pharma (ATYR) 19 Mar 182017 Q4 Earnings call transcript