LIFE - Earnings call transcript Q1 2019

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Operator

Good afternoon, ladies and gentlemen, and welcome to the aTyr Pharma's First Quarter 2019 Conference Call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will be given at that time.

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 Jill Broadfoot, aTyr's Chief Financial Officer. Ms. begin. may you Broadfoot,

Jill Broadfoot

and to everyone. XXXX discuss update. and Olivia, joining operating you us corporate today aTyr's good you, Thank afternoon, for results Thank first quarter

and by our it on strategy back before open then and of to Shukla, We review an development corporate Dr. it clinical to the I joined will provide Sanjay today our are question-and-answer up handing President ATYRXXXX. CEO. the the Sanjay update results session. Sanjay for will financial

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

Sanjay Shukla

afternoon call. Jill. you everyone for conference results and our first you, quarter thank Good Thank joining

or well of randomized as placebo. XXXX as will safety, enrolled multiple receive milligrams and evaluate sparing biomarkers one were the quarterly planned. first-in-patient and quarter, PK ongoing focused Beginning company this including Phase quarter ATYRXXXX last clinical and our important understanding clinical we Neuropilin-X. that treatment multiple during preliminary going X, into since role the The of immunogenicity recent our on that steroid doses potential fourth multiple during per either and XXXX efficacy two staggered of only advancing initiatives XXXX has short lead presentations endpoints evaluate trial, tolerability, doses are that ascending patients. a single efforts number to Phase is are clinical therapeutic our our December, X believe XXXX a and been been we to pulmonary conference of study remained While cohorts our to further The placebo-controlled our These the call, translational we for evaluated one is we as top development X provide first ATYRXXXX the time data. of at the XX and therapeutic through of announced first clinical Xb/Xa and our based doses of to able several of of dose acutely potential initiation trial, sarcoidosis. the sarcoidosis on with be candidate significant patients dose to leverage the our I it study of on collaborations data of a today three initiation doses our three assess In designed potential kilogram. study, have to achieve for in established a dose in And was ascending to these to effect, we each study of a milestone updates we the study, trial efficacy.

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macrophage beneficial of role in Notable University believe discoveries organs. structure We novel pathway Craig accelerating aspects is Dr. Therefore, inflammatory the the pathology, who discuss impacts is included XXXX recent an the the manifested Massachusetts. we we in responses clinical Hospital, and Xb/Xa This class Datta our to Kausttubh pulmonary states, the Kentucky, of the as NRP-X across efforts together in that experts April, of NRP-X leading function from XXXX from the by believe biology leads disease at patients. the and development focusing have the a to participants of range yield demonstrate granulomas most of in exploring of presence Dr. activity as is microenvironment we it of in addressing hosted this emerging Kooi Bielenberg of Vander School Diane Both XXXX role receptor by to previously Boston to Europe on demonstrated United diseases, States impact in ACR of receptor. Dr. on Nebraska summit affected inaugural the modulating a Dr. as well the an University Arthur observation directed granulomas. researchers of immune know and biology. to that NRP-X NRP-X we brought Mercurio Sarcoidosis immune therapeutics. of inhibits area Children's understanding inflammatory Medical sarcoidosis the high from Phase our highlighted relates we from mediate of macrophage well recently broad NRP-X receptor. in from therapeutics across positioned of this NRP-X role of University trial key further cancer can the that To at an relating summit the expert NRP-X an

to found multiple be We cells. of sub-domains pleiotropic emerging moment these biology. mature the programs as new of we look NRP-X about and each NRP-X positioned progress field NRP-X. receptor the has semaphorins, our development briefly pipeline believe well in are of surface look immune to a NRP-X a We is pathways talk in ligands with forward such actively signaling take been and us are binds it on NRP-X consisting modulates five other. are that provide inflammatory to potentially initial attendees with hosting additional who VEGF and relates summits biology further an NRP-X the and summit the leaders cancers, for targets. many the of collaborating as field NRP-X The we implicated thought various well to eventual provided in the therapies. opportunity pathways on These development biology these as important leader as integrins. clinical in forward which meet of updates immune as attractive possibly future in Let's and these providing advanced opportunities and the of to to disorders

covers we gives related from to emerging funding product synthetases is research a million is our collaboration. our to Switzerland. development to The our the of global now tRNA In meeting in all development candidates to or up for Turning candidates CSL’s the kickoff of is four at validation earn the advanced Bern, $X.XX collaboration to total In per candidate CSL collaboration the development is with and potential to therapeutic important CSL potential applicable accelerate believe this CSL that leader announced and an candidates we a and up of fees. had activities of collaborations. Behring million pipeline. us April, of March, $XX biotherapeutics the collaboration option the technology. we research offices early duration

is three the prior class at build support. approximately their and another grateful In while serious announced Federated both plan. led joint due One objectives will progressing work making before investment with for ATYRXXXX, clinic treat track. for are body this governed their inflammation our investment meet for diligence of time phase over summary, first regularly which entered program to pipeline represents the viewed to the our suggesting end our yet the and a potential last has research The same enter drug $X stay as on novel to Kaufmann. Subsequent and our collaboration we is met NRP-X conducted the turning the We of Federated of program, committee, that to with we the company call based quarters continuing registered we the XXXX of evidence having direct on we and week ensure in momentum, first and the in line diseases upon cancer. Jill. science of time update by with sides of investment. quarter, by significant lead technology research the to potentially million commenced research to new The corporate validation

have continue pursuing template long-term financial development on XXXX results. of value also help creating discover accelerate underserved can collaboration Financial expand our of we can as and it serve for therapeutics. Jill I a opportunity new turn that execute plan for develop to for our like and that, and to We our a our here further Officer, development strategy pipeline independently. therapies Broadfoot, In patient I'd our to academic significant to we additional and that significantly corporate clinical believe the while over With Chief our to populations unique shareholders. review parallel,

Jill Broadfoot

Sanjay. you, Thank

headcount with in $X.X $X.X administrative the and ending compared XX, Our compared three $X.X the are million period cost in March decreases our million clinical line of development ending both for and development comparable general corporate to XXXX and months development announced XXXX. expenses for the efforts expectations. results were expenses our measures. for research the $X.X were months announced on XXXX our million The other quarter to comparable advancement May expenses reductions XXXX. with three in saving related for and administrative to period XXXX for were the XXXX, we in Research XX, where primarily along in restructuring General March related for and million focused the and

cash XX, December compared equivalents had $XX.X cash, million of and XXXX. million March $XX as investments XX, As to we in XXXX, of

also the led offering Federated direct end $X to a raised registered quarter, subsequent of As million through the Sanjay mentioned, an we additional Kaufmann. by

also net XXXX. For to the guidance decreased our our our of $XX from equity first million and March consistent of million quarter, debt cash as long-term was $XX.X debt $X.X burn XX, million with

of remainder the believe we with to million our of equity. burn burn $XX continue $XX debt stay steady of forward to anticipated Looking approximately net an million and will cash to XXXX,

back to to open I'd Now, before we Q&A. Sanjay up like turn it the over to call

Sanjay Shukla

in of will of We Xb/Xa continued trial our a which ATYRXXXX, questions. take our this be happy will new look company. to support. date Thanks, Jill forward you time, Jill. appreciate if up At positive to and keeping era to I your We usher interest ongoing on concept Phase proof and your for

Operator

[Operator Instructions] from First of Beatty line the Joel Citi. question with coming

open. now is line Your

Joel Beatty

team. taking for the questions. Hi, Thanks

Phase type of first discuss able data of Xb/Xa XXXX. characterizing what to amount enrollment The the updates you any one in is this in of we Or quarter see and the the be fourth so year? might trial Could of far?

Sanjay Shukla

now, question as Yeah, Right mid-year. with our Joel. on we and to providing thanks said previously for recruitment trial I update the expected regard enrollment. proceeding are and that will be I’ve an in

do So I that. think to we're still in line

at end the think better time mid-year see at expect we’ll to characterize what able also the point be I to they that of year.

by next certainly time. I just stay So say the would tuned

those questions you have earnings We be call. more a around There'll updates that ask. operational an robust

of dependent mid-year see that first depending going the really sort that the we'll is safety it's enrollment Certainly, look at on many timeframe. be how think top of the end And perhaps when in year, of mind be trends on patients about you efficacy some maybe able we the be of going to to of I here. cohort. to think in trial,

ask just So stay I'd tuned. is what you

to I on end important this that and in still get trial this think some very giving update here we're the But get the think out from at is to timeframe. data some mid-year year. that close we're readouts interim track I of thing

Joel Beatty

data what to time to what that the that decision hoping see – data maybe point steps and you to to moving XXXX enough next sense. ahead? of for for thinking you're point Then at a ahead collecting type Okay, in give the you reach could maybe confidence trial makes about characterize time from see help

Sanjay Shukla

Sure.

trial this set patients we've with XX three obviously, cohort total. So, up arms,

data in humans. of those based Our X start somewhere first signals is even on a animal in a view efficacy And models that some to this project the that to translational lot at and should dose range dose is we saw where of we see X.X the believe be activity. our between milligrams we

starting with milligram see we're expect some away. X As right activity that to dose, we

increase like dose manner milligrams. see Of in dependent a course, we into it X to get once we'd and

those I'd to first patients think cohorts, is reducing patients like So what I steroid in two their doing see burden. in particular better,

in lot drug's more that would confidence activity. us us give – think about I this give drug start to a this

range. take cohort we it milligram Of top end also course, X then have the to the to sort the of of

sort So the see to think at is of little we want better important that unmask we would you to then thing see to and go milligram. sort see start I ensure to bit here at that we benefits step-wise, any have expect good milligrams. a that, X If X safety of really

the that's that about think way the is team I thinking it.

Joel Beatty

from tell for guess you the sounds meeting that any good. there Very that then I were it NRP-X And or takeaways Could held interesting. you summit recently, insights opportunities aTyr? that about us provide meeting

Sanjay Shukla

fantastic in a very to to experts like rare extremely here for this. came pull we together Diego it They I us. mean, had think discussions. and productive was all Yeah, opportunity was San I It

were can we or opportunities for they potentially attractive near-term towards therapies clear us this What's particular at receptor too. value near-term think because it several in I aTyr. to agonist guided create has create how sub-domains, it targets antagonist provides about and

cancer, they what both you can now be instances, in to of You immune other examples for receptors fence. are the In sides and receptor the activate want some In the with some unique really validated circle – we're turned do new I companies at can you and down. side partnered many think imagine we real pipeline that very, the system looking that on able example, opportunities generate immune quickly. and we've hope to validated it's to system. is very want best brightest this been deliverables clear with that to What's the

Joel Beatty

see what you on And be from with question, Great. hope going that could, partnership last maybe with what Behring maybe you'll to Could if partnership the And CSL focusing recently. discuss one you forward? aTyr announced that? then on I

Sanjay Shukla

companies built the then a you candidate. the backing. four they're that which, to research XXXX times really, immunology, And a receptor, do and therapeutic focus do on now in you of here macrophages. are to the four paying in. do we biotech built by, neurology the moving CSL If to where And tRNA of of with assays, more is I milestone we were establishing some taking We good assays, to for collaboration XXXX by able you'll sort over hematology, manner of creating that that have that identifying receptor things first with research all, bit with milestone receptor you efficacy value to These think creating and example, thanks a move We candidates first for really do, the when and how a that opportunities functional need question. generate assets and to of receptor and validate need We're template same buckets now Yeah, logically where create carefully now. target. that's attention animal sorts those That's to thing. CSL’s course, some a synthetases payments. point of want to a the of sort try a move That's think effects payments this these into, little start to we to on experiments. we with kick that

not IP it rewarded it's do research basically these we CSL to with we'll In nice milestones synthetases. of this. we'll our the for before resources that be can another reach funding case, with those think XX% do is to demonstrated portfolio. be we've as any start of looking this we collaboration towards a in burning us that we're I sense our And efforts.

Joel Beatty

Very good, for thanks the update.

Sanjay Shukla

Great.

Operator

turn back Sanjay no call conference would like further to I'm I to time, this closing remarks. over showing questions. the for Shukla at And Mr.

Sanjay Shukla

questions, thank call course, forward providing as look next to had in to we Great, too Obviously, I earnings at expecting again. update long a joining August. thank so at ago, update, you. this we've I'd We more that larger here. quarterly call. not lot the Thanks like our update a an everybody of for have said, next

Operator

concludes thank participation for your gentlemen, the This today's in and conference. Ladies you program.

disconnect. great all have a may Everyone day. You

aTyr Pharma (ATYR) 13 May 192019 Q1 Earnings call transcript