LIFE - Earnings call transcript Q2 2018

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Operator

Good morning, ladies and gentlemen, and welcome to the aTyr Pharma Second Quarter 2018 Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, instructions will be given at that time. [Operator Instructions] As a reminder to our audience, this conference is being recorded for replay purposes. It is now pleasure to hand the conference to Mark Johnson, Senior Director of Investor Relations. begin. may you Sir

Mark Johnson

Good to and XXXX discuss update. and Nicole. joining operating you us corporate today aTyr's afternoon you thank everyone for results Thank second quarter

open and Please by officer scientific on Joe ago. only upcoming results will development statements Broadfoot Officer Shukla statements the like question historical are it We a review responses update research our questions recent to circumstances clinical included release in most on of Financial annual company's patient as as factors call only and should the update well Dr. Chief of this to update and a Securities on on our will we management Sanjay XXXX. for by issued Reform statements joined reports provisions Q in and the joined XX. the David materially facts the statements. the answer speak corporate circumstances. clinical King WIAR our today those looking forward the to differ support the any date except our session future XXK are everyone before president call who on an the information CEO. forward Joe events over reflect and Form on the quarterly results today that I our line that from couple highlighting and Dr. Sanjay. looking chief back made undertaken XXXX. its weeks looking market by Sanjay studies financial Act the of us the cause and it forward the they These of statements facts on can the to under have of or before we'll disclaims filings the the payments provide as after which XXXX. such looking under obligation remind Private conference made actual report translational Litigation Safe Dave company's the read forward provide and uncertainties involve except risks Harbor not strategy would earnings will to be for are same XX up may turn close press further been looking statements an handing begin and activities which required in to as trial to change underlying forward disclaimer to I placed forward of Sanjay the of equity risk in law to statements looking now Form

Sanjay Shukla

Mark everyone. you, and good Thank afternoon

take Chief as like Joel Before we Financial Broadfoot this I'd begin to to Officer. to welcome our opportunity team

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David King

you Thank Sanjay.

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Joe Broadfoot

most tire truly months. I you XXXX. everyone In caliber extremely their and worth Thank short you, look for to been trial in with you to meeting with the join level David's talking with today. team upcoming I in the and a thank exciting It been science of have calling is clinical expertise. for team coming to of hard to impressed support forward the I've here. And of David. has an time time and thoroughly been the the interacting

three trial financials point and Now seven dollars lower June five point and and the June increased Jenolan to The compared seventeen flat month were month were million twelve month employee some for to primarily related other six the six to six dollars point This six for XXXX. ending to related XXth the product and severance by for five expenses partially expenses six period XXXX announced research million lower point related the in expenses let's June six decreases to ending point three and period was and and ending development four period XXXX. XXXX XXth plan the clinical benefits million and and May costs administrative restructuring XXth eight termination related were at three and five offset discuss point manufacturing. three XXXX costs

Although Jiyane be will costs decreased.

related some employee forward in the our second we by to related cash of year percent the of XXXX. severance of a benefits entered quarter payments savings significantly XX the expenses in XX the program offset reduce quarter million per related idea and dollars mentioned operational per year cash Going plan in X May you the To other as corporate sixty million announced approximately restructuring burn of fourth of net approximately of these in XX. initial three quarter terminations operating some quarter the savings fourth XXXX. we in position plan were We are to expenses debt cost restructuring will million cost June equivalents net increased give year half and as investments and this of the over earning reduction prioritization approximately XX and earning XX cash to million represents exit XXth point year dollars. our had four dollars That in

million total three June XXth of our includes nineteen our dollars position XXXX debt in point cash As loan facility. approximately from

approximately dollars principal quarterly million the X loan begun paid of have We XXXX. the principal seven we is of point XXXX and June of approximately facility. late in paying until payments As be million our that made first down debt making will off principal in of payment we June dollars

to today. on to before call it XXXX probation up and Now open over Sanjay the the we of have the team right I'd of [indiscernible] everything turn building side meaningful your accomplished clinical for And A for to back Q prepare trials. our we proud very to I'm focus of like

your trial quarter you way focused happy following a clinical Giel B we Thank time and and protocol Our at the questions. to patients on interstitial or to this of confident we in take in successfully I Phase to milestones David initiating XXXX a pursue team lung announcing goal fourth this will everyone excited. to is specific the feel McQuillen be and our We for going our forward are this trial with year. the biology novel X achieving

Operator

Thank Tenthoff you. [Operator Piper question Instructions] from Ted And Jaffray. our first from comes

Ted Tenthoff

Great, for thanks. Thanks the update.

Sharon. about that's should taking Looking critical one test. and bit you chair, forward those on little talk the the Kobe transition question when more the we the giving a case to along lines place be to or partner anything Can more. Sharon current

Sanjay Shukla

Sure. Thanks for Sure. question Hello. Hello. the Ted.

component direction hypothesis that disease. in These the that we particular [indiscernible] a convincing interstitial we translational data its fact bit be we've this hypersensitivity guiding as we've conditions a had - this of the though we really much inflammatory still talked that those of with and lot real of We're which would to included was highlighted just that leaders therapy at a in lung have about opinion know you futility XXXX out key very and have some best We So here as right previously in where you feel - conditions that previously more in those as on the would the that scleroderma last pro we like fit. confirming highlighted stages our the confirm especially work. now point. us read ideas new the efficacy that indications thought that's among the

We also and some have patients. feasibility look balance for readouts look enroll to to operational

on translational page. a things So now weeks the good I'll number sort hard But coming working stage of they turning be indications. really now We've confirmed some from those it know type the to in structure now feel to our about we're focus around of guide in be I going be you study. specific to you indication the the is framework the that provided sort of that that one you trial of to will the around

Ted Tenthoff

that We'll you. Thank all about that. crumbling hearing fast. more be Great thanks

Operator

[Technical Difficult] Your out. is line

Unidentified Analyst

have questions way. of I a in tough afternoon. two Good kind

kind looking al-Mutairi. what want diseases type a magnitude target of course the that of at of benefit Rodeck you're of So more have since you're are what of indication the sense XXXX in useful at. think just But would than you to is more looking anti-inflammatory be day the I

some the my eventually better patients. is of David. occasion other the type with you question to therapy do And results did combination kind for know then broad need to You achieve for of

there against have generate versus mentioned what about wonder XXXX. I You our activity share the of you found Putu if receptor. antibodies antibody you could you just

Sanjay Shukla

for the questions. I'll thanks Great handle first the one.

smarter to you're we want we more think cleaner readout meaningful about much on Kathryn readout of I our this I we for in IPF quicker where third clinically side focused ability I'll inflammatory strategy. XXXX perfect little using the as in XXXX represents readout go IPF have get we a in we're can areas think of in the and a more example. for a think spectrum. really wildy. interest sense bit right a that to of into clinical everyone the a On aisle We to only top are on we're remind focus the lot think untenanted a about only while strategy anti-inflammatory of about the a that

activity. two more of other primarily inflammatory associated There's to and a inflammatory want bit thirds demonstrate pro there. are morbidity a significant where of attack a more The signal. really lot driven amount recall by a we That's

I the and the really opportunities road we therapy think to the use what on course of down green have regulatory strategy. but from be space a clinical see we add of

opportunity in They therapies know We see quickly don't IPF good those an other also don't a therapies. have We have operationalized patients need. work.

question. So excited those this interstitial more into is lung I'll one David think mediated second really getting to us really of over where community diseases. turn it is the ANSES I Sure. inflammatory about

antibodies. So BNR regarding the Putu

have said molecule. Having those multiple a so months primarily antibodies on a really XXXX also half-life of epitopes heard panel made we end nice the we that PD is it we engagement we long molecule. has that you made a cover to And QX that pretty actually the think antibodies with set target nice potential of up different So don't as potent our at.

conducting those you are to any thank to of thank those additional research if might happen we you. So also on see caissons

Operator

BMO comes our from Capital. from question And Glucina Matthew next

now is line Your open.

Matthew Glucina

question. for Thanks taking Great. the

what data study and indication on I be So Phase to the could selection. confirm talked you package is of complete translational X previously meeting first and NPR you're the to we've an just that some that's Kelter guess gating sort ahead evaluation how going factor of X got of with the about time

Thanks. three But could items around you of number imaging it if a they endpoints types data little the if left was pulmonary bit bit at and three which little put endpoints one more detail and and a not as you I is could. they're when was looking please each I should two what's are just level So know of they typically what more sort you relates could sort complete put we the not number to number hoping initial are complete. those what of wondering around and and specificity of if of if out. just you then of things types expect specificity comes

Sanjay Shukla

Good on that. question Sure. Sure.

our in good readouts model. models. finish a XXXX there we've a good was now that are of accomplished There systemic absolutely really been looking right summer. so went notion of your box early So that's one efficacy getting to confident that XXXX off to trial so through checking The to wanted message sort tolerability number that from different the that the feel a summer you we we now know earlier look Translational number direct you has about are and that's next Also first a there checked model. this know been at injury data we and now. accomplish seen efficacy X particular We safety of this part clearly on that Phase

immuno last opinion that a be of All of lot data the this in think modulator interest encouraging of that key for are can I a really more we're inflammatory therapy excitement share Now in used a final that coalesce. who sort very in safe pulmonologist stage from clamoring lung. leaders front

really the component. last So that's

indication the lung it to the regard that Now the look of or know is is a you about would could that of to protocol do interstitial really it looking But to constellation on be to When are be think on as you at. part the into PFG id one for secondary. you the used will be most on regardless you're genesis what imaging specific depends for SBIC gaining particular very endpoint of likely is of in sort to high things more there up those disease. with think traction SGV snarkily. really and lymph all you the depending a validated and diseases nodes lead it's for of which lung tweak in focus be to imaging at. looking of t we in going about the at imaging which regard what at of carefully particular slight looked like primary less endpoints risk way a other or go the But PET that's example inflammation With might

in protocols protocols You'll that of the see snarkily that some are out there with out experimental are there. some that

you're of you these types reported specifically going which of patients. of patient would And indication track. those lastly want can of of to that which consolation IDs we be measures again when Kauf biomarkers be then commonly depending on biomarkers to the Lastly about your look the on dependent outcomes of which at shortness are you're Portate on of think there exertion. in outcome about that's that common you thinking Those sort used thinking relief breath are

of little really you. of ones we the a specifically that pick you the to helpful. specific to looking of the endpoints start at out once know with. you which No color we and specific gives sort of that around Thank that anchored So details will bear aisle buckets out bit we're we of that's types

Operator

from Joel comes next And you. question from Citi. Beatty Thank

Joel Beatty

the seeing know the trend would looks expected that the be label Hi of for from trial just trial Phase a that that X you little on from little doses good and trial kind might see Could bit time depending are of we question. a be Nolan the it like. Seath the bit? taking end Seems the Samsung that this Thanks Xa open elaborate in afternoon. different data until the a where from the you change timing different design potentially on or the what over about

Sanjay Shukla

integrity the Joel. first it clinically example discussions now. may a maintain ability we course of a mean to for rapidly of we think those about to to trial down the depending I Decline to of output than a duration I creates ability have the more lithium on is the this and think in are having foremost these we're meaningful but and want little run at analysis of for the that way look the them sort sort the of Yes another endpoints what are draw have endpoint. interim bit right

could at there So than sooner cost to look later. be utility

indication biomarker as example at a biomarker biomarker look could than be final see which case in at earlier that the we opportunity For if the one be may change may looking the readout. you're the in

it's through when get the So be of everyone once I out indication to efficacy. carefully evaluating of points picked think and to important we walk for sort will protocol actually the us sort launch of that

have know preserving You the on integrity meaningful way relative a the looking again clinically to and interim of for to that trial endpoints I this we're end trial. while the again optionality in a think output. us to some But run see actually there's going be for ability

think something to you to we it's get So back on you tuned know that credit. stay and want you I know really

Joel Beatty

Thank you.

Operator

turn question-and-answer today. to session this for I And to our you. for final Dr. Shukla Sanjay the Thank is call like remarks. back his would

Sanjay Shukla

time your the Thanks attention much very today. much. forward to providing ahead. look months you and very updates in again. We for Thanks Thank

Operator

you we a for participating in have conference program all and Ladies today's thank today's\ day. you and great this gentlemen disconnect. concludes may Everyone

aTyr Pharma (ATYR) 14 Aug 182018 Q2 Earnings call transcript