LIFE - Earnings call transcript Q3 2019

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Operator

Greetings, ladies and gentlemen, and welcome to today's Third Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] It is now my pleasure to introduce your host, Ms. Jill Broadfoot. begin. may you you, Thank

Jill Broadfoot

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

and Dr. We today Sanjay CEO. Shukla, are by our joined President

back and the before I strategy the Sanjay recent for will the corporate to research then On on announcement handing with and results of including Sanjay review an clinical will the update our call, open Boston position, our call ATYRXXXX questions. collaboration the development it current our financial provide Children's to financial Hospital. up

remind Private Before facts, that we These of the that statements. begin, Reform the management on I would materially and made forward-looking to uncertainties statements call for like and forward-looking provision Securities historical statements cause risks those Safe XXXX. to statements of actual conference to results from questions can differ of everyone Act this statements by responses involve except such Litigation the are under in Harbor

forward-looking forward-looking or to the the report quarterly any made the future circumstances. reflect change. which issued Except morning disclaims the required forward-looking the statement on see Form and included placed as events annual Form underlying Pharma of on forward-looking these are statements, obligation our and on Please may reliance statements Undue speak law, statements as on be they information, circumstances date as only these XX-Q. facts not release and most Company's as update XX-K factors in by in to recent as risk filings reports Company's this should and well press SEC disclaimer aTyr

call the turn now will to over Sanjay. I

Sanjay Shukla

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

signaling make the in medical advancement and ATYRXXXX of financial high During candidates the quarter, of NRP-X research our patients, our progress by will our and for we novel tRNA lead with therapeutic extracellular position. Today, needs using biology therapeutic Jill unmet functionality update to pathway development review of synthetases. positive and will with you strides on the analogy our developing continue towards efforts. neuropilin-X I candidate or with continue third

an that protein from long-acting is is the HARS gene. XXXX engineered derived

series of exploring which as are ILD. the across use lung in a lung, XXXX diseases inflammatory interstitial are the diseases of known We of

ILD initial more characterized of Our is ILD. diminished forms by sarcoidosis in to is and scarring pulmonary the the lead inflammation granulomatous indication is sarcoidosis, that the one lung Pulmonary lung untreated function. inflammatory can irreversible left of

expression translational in we sarcoidosis model, of build tissue data As to in study tissue look significant We've in from order samples granulomatous granulomas. and efficacy NRP-X expression NRP-X not of positive patient, tissue, the skin we've NRP-X we obtained these from recently strike and animal evaluate upon of target began samples. our to confirmed biobank of XXXX the rather finding. characterizing a some human observed body in in within localized patients have the expression tissue lung We in both

sarcoidosis confirm results findings sarcoidosis receptor currently multiple-ascending is we in progress patient. medical dose we'll pulmonary placebo-controlled being activity to trial continues in and The hypothesis at XXXX XXXX Phase track blind, clinical pathologic strengthened on a future We initial report data NRP-X to expressed essential target next double in are considerably sarcoidosis. as patients. from our month. XXXX to Xb/Xa important for that impactful these data clinical the they issue near quite These is and this remain pulmonary in planned present have that randomized, the trial the evaluated safety a in conference

the second interim with of week issuing on plan safety We release during December. a press data

trial dose have adverse include Interim provided safety of of all information. data placebo. keeping end will track at patients the XXXX will on original principle guidance. data events, for who hard work and year consistent providing one and or safety trial this interim would of their interim for like immunogenicity on this our efforts data our to with us the be sites thank a our ADA the patient with Specifically demographics, and clinical investigators and team I goal minimum received of

In made to quarter, this we past amendment protocol an that like at time. to the important I'd our highlight

X and to a between study. Patients down aims a study to by to this week steroid steroid subsequently patients reminder, Sara in completion. prednisone XX XX maintenance then the the milligrams dose. our X our dose into at this of of that As until trial taper sparing milligram takes target prednisone forced protocol dose at milligrams attempt keep We a establish in as eight their prednisone enter dose a level study to

our As taper we principal progressed, have has in discussed investigators of completely steroid the dose. our for patients to their our possibility study with off trial

heard, maintenance steroids is option consistently have the at steroid discussions medication on off week Based treatment patients and from of be X visit on to who getting PIs, made the our XX stable titrated may associated completely, toxicities with we we with if be important steroid plan. investigator now As by an key that milligrams now prednisone the change feasible. determined are Patients to off avoiding have the and our experts protocol goal. agreed steroids

XXXX. potential XXXX study enhances real-time trial our of and We site important activity to providing feedback development of the for incorporates guide results PIs XXXX in other will in fill from pulmonary sarcoidosis from observe the future and our in The of this our ILD. ability amendment current

$X these in billion market remain proposition idiopathic of IPF, of opportunity inclinatory These pulmonary are on ILD. very, the and a is ILD leading forms use inflammatory least represent billion value very and believe unique opportunity. We focused pulmonary area a or to the ILD significant trial. $X interested conditions exception where of we competition our there's little all is ILD representing believe Overall, which we the our area in with fibrosis experts of

the momentum such as for through Disorders, or groups were WASOG supportive society Granulomatous from in Association continued continue worldwide. with opinion therapeutic international World and and well these Other ILD sponsor space the Japan, leading in gained conference interactions a as trial Sarcoidosis key Our support sarcoidosis as We our joint the we we as WASOG. Japan recently pulmonologists gain leaders where to this in of between of an Yokohama,

In clinical summary, on evidence finding our designed progress further with with the active from granuloma experts, trial based the guidance for coupled NRP-X trial and enhancement we've provides success. been that our trial we've our the recent protocol

to various and disorders, cancer. other to tumor expression potentially in is a patient high tumors, inflammatory opportunities. and inflammatory in gears shift discuss towards NRP-X new target cells; for linked worsen regulated our In up in disorders immune developing of is NRP-X the is Let's pipeline understand efforts move outcome. as we both NRP-X expression diseases while novel

differentiated compelling domains and novel to lead antibody. possibility opportunities. targeting to we therapeutic collaborations receptor, to the our in NRP-X a selectively expand discoveries biology. use leadership functional love These of offer currently multiple recently protect explore the continue different with context NRP-X bind specific our biology proprietary receptor has, thereby institutions. international and These scientific found antibodies protect modulating NRP-X of cover patents in distinct aspects product U.S. potential of We developing of of new in NRP-X repertoire These six NRP-X position active this antibody biology, unique leading of the collaboration patents that our diseases.To

research cancer expedited and novel Bielenberg we with the of antibody, reverse, and there we're antibody number Dr. a collaboration the inhibit, will to in applications muscle established potentially development well Children's addition actively and role a model. of for further more address targeted NRP-X growth hope metastasis, NRP-X which are will therapeutics in announced this mediating is also and Boston smooth mouse new decompensation Dr. One that collaboration recently research which indication. selective In initially of of our NRP-X explore Diane exploring. to Hospital knowledge Bielenberg's of NRP-X prevent, we ability type advance

modulate to therapeutic by could many condition. Targeting be exploited builds of muscle of to potential unmet such as NRP-X disease treat years opportunity new it NRP-X Bielenberg of of the for ability these understand benefitting conditions, the progression to bladder. upon diseases role therapeutic conducted And research offers a The Lab the of bladder in the conditions. NRP-X smooth

with this strengthens field. clinical This aTyr's with utility collaboration research and is consistent and NRP-X starting this our the ongoing of in Boston reflects therapeutic our position to modulators efforts candidate we development leadership expand the and of strategy partnering in Hospital, industry broad enter preserving with believe Children's to academia and XXXX. while for our of We're capital lead leaders development research

and very in are our step from our or important of first encouraged hitting sarcoidosis. an milestone is safety trial. another we This progress in concept look forward interim proof pulmonary review XXXX interim with establishing data safety Overall, of to

key creating with term efforts pipeline unique while underserved both help are opportunity patient believe NRP-X strategic have I and biology long for and around a we to the at our collaborators. internally same shareholders. time our significant advancing population, value Additionally,

With over financial I'd turn Jill like review Chief that, Financial to our Officer, results. our to to Broadfoot, it

Jill Broadfoot

you, Thank Sanjay.

revenue the the agreement or receive are million months $XXX,XXX respectively. option with recognized Behring research $XXX,XXX where For September CSL collaboration are XXXX, and to of million, total if of in advanced a to have four CSL. synthetase also we X.XX to by per program, a program of nine XX, revenues we three associated total and up and up with These ended all opportunity auction the XX synthetase collaboration CSL

X.X the million XX.X was million for cash, cash months year-to-date period X.X loss million. XX.X XXXX months cash XX, is of over ended XXXX, three equity nine with investment. to The September in respectively. XX.X net was only and debt of in burn, net in million. million respectively the the a expenses for for XX, due net in income We our equivalent and primarily to million XX.X XXXX September million Our ended and quarter the same ended reduction compared and and $XX nine And decrease

operate more quarterly find our for and to burn quarters year. efficiently We consecutive this continue declined the to now ways second has cash

year million total XX the net of we project to a cash ending of million XXXX, XX debt range to end guidance at of and For lower burn previous the our continue equity.

million from year long-term to Our decreased XX, at XXXX XX.X XX September debt of XXXX. million as end

target have us on gives equity combination this sufficient loans are over XXXX. fully We year We cash clinical November, cost the comfortably believe our by our to proceeds trial. complete revenue Xb/Xa to measures Phase saving repaid current and of

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

Sanjay Shukla

Jill. look future. the appreciate and Thanks updates further and your forward support providing to We continued in near interest

time, to take and be I happy your Jill this At questions. will

Operator

question Beatty Please first question. of Our Instructions] [Operator your from Joel proceed the with comes line with Citi.

Shawn Egan

Egan going in is my update the you Glad This question. appreciate for talk thanks me for Joel. and guys. today. I taking Hi with again. for Shawn to Three

completely to the go off context comment the it trial, changed protocols the for of sarcoidosis in common in clinical you how know, patients is steroids? You pulmonary maybe

Sanjay Shukla

question Sure. Good Thanks Shawn. here.

As we that manage were designed required steroids and day-to-day our for looking we shortness to their of a breath. population trial, cough

PET and from And So we patients have moderate to also their a our these have becoming the are got they disease based that would say one scans, disease fibrotic. phenotype certainly that's progressing guidance experts. on that's

viewed down key frankly, for drug but is the not It's as typically component, part These originally reason to doses, the to replacement steroids. the the could on to we very to a very, XX was is wanted Getting a as XX our off our test test wanted set them we steroids are why milligrams to ability maintenance or in patients see difficult. X whether drug we taper is to patients our if attractive all sub-therapeutic steroids. reason spare patients dose. And milligrams, trial, off, a X these viewed as taking really an of

the to off end able is And protocol, I that our To I taper PIs think be goal. this steroids, in we're a fact agreed the tail real to able completely conjunction to on us patients with think of for It's greater greater those to us certainly can goal. that that Delta, allow see and be a accomplish is to ability a and win even XXXX will utility. a nice win to fantastic

Shawn Egan

you are you with color. trial? expression. considering findings guys able in had any new comment kind you Kind Thanks, of the I clinical Great. regarding histological your appreciate Sanjay. the getting to have manifestations patients of skin Are -- the

Sanjay Shukla

capture will U.S. the Yes, biopsy, consent wanted lung so active correct highlight hard our if that have to especially I this lung is able samples trial in of sarcoid this I Many we samples to And In have outside taken certainly of trial. those mean, trials, trial, you're to that. our it's were clinical to here get because patients cutaneous especially allowed. manifestations that skin be stage. at in get assay don't

that but you to symptoms, granulomas, have not that those assay individuals, that lucky, or would might once have At how this five do are trial say time, of our going manifestation. to have patients the that cutaneous have we're is XX cutaneous upwards into complete, six I many expect we I those demographics maybe if will patients manifestations cutaneous

I So tuned. stay would say

highly with specifically in findings, speaks hypothesized really granuloma think knew those first granuloma the pulmonary in patient. we to to clear based I We on inflamed between and neuropilin-X connection it is regard even and the macrophages. the that that. and with literature expression T-cells sarcoidosis the knew bladder diseases state other neuropilin-X from especially RA, inflammation of that literature pointed some Dr. work Bielenberg's to expressing inflammatory airway We

very the here pulmonary said, I had, as at And specifically sarcoidosis really finding finding. I look This think to first was a granulomas. we striking

effect. there an to those cutaneous So, patients if that we're and to have drug closely look a going this bodes trials, has very see well manifestations, for certainly our

Shawn Egan

lot perfect. That a sense. yes, makes Okay, of

you last maybe of a at to so the can question, are to why Children's NRP-X on the all And collaboration? And little And contractility? speak muscles biology with kind effective you there? in comment Boston fluid able it be my think of bit new

Sanjay Shukla

Sure.

number where to the you have can what the a neurogenic and where or conditions is where cells role. get inflammation obstructed disorders. non-neurogetic bladder T-cells outlet is of and that same by conditions by caused in some as of areas types outlet to it an that it's see plays starts smooth muscle bladder start and So to other In immune obstruction, NRP-X called you driven does a the inflamed, non-neurogenic its compensate of

that seems Bielenberg published NRP-X bladder had in Dr. previously outlet be this, the highly conditions is to with as inflammatory obstructive, expressed. such So

most turn more this modulate this the smooth aware, as such and her inflamed condition interstitial this in view becomes example. as chronic to inflamed and for are quiesce it and get muscle compensate in time a So of the could NRP-X become functioning bladder quite once cystitis over leads it bladder better,

this bladder clear and think has role in and how with it example, has think also an the literature So lot but plays restore very could inflammation we time, is we Bielenberg for a that we similarly, one if Dr. of early can perhaps a in of inflammatory that of goal discovery on a pathology. cystitis potentially interstitial of modulate help a project, spent understanding there, sort function, understanding we shot number them. And being neuropilin conditions,

Operator

you. Thank

Joseph proceed from question. next Our comes with your Pantginis Please question the of line H.C. with Wainwright.

Joseph Pantginis

the the Hey coming potential and inflammatory here the have you smooth a with question cancer. biology, for color with afternoon. pipeline thanks guys. well. the expansion, Wanted Good the for additional taking you muscle of mentioned off as as all Thanks lot in last today long-term in to opportunities focus of question disorders especially on in

maybe like indications be some see before So do you look do to any would to do evolve? take guess researched my pipeline decide to internal -- is expertise you I based of How forward? it IST having versus the rhetorical you is which will based somewhat forward you question, to because have saying move favorite or sort on things yet external

Sanjay Shukla

thanks. Great, Joe. the question Thanks for

we of lot Dr. focusing. as Internally on in bit vivo collaborations there's really With experiments about it's the antibodies. inflammation into to have more cancer we're tending working it but on. some targeted biology we nice So side. are we're a to Bielenberg such focus do There clear moved opportunity, blocking a a as regards is of number some that have we've that little

it's niche sort with real that of have and indications. partner smarter I think understanding a folks to those

specialized our inflammatory the way externally is sort bit state. on perhaps think more through at internally thinking looking those about we're collaborations little it of at, cancer So we're a I focusing

one new in that make bubbled number caveat at there pieces they're literature looking a the tumors. are with up of some of, expression of have where I'll with collaborators that work here resistant neuropilin-X we

or to a that You to tumors. of come antibody last months potentially see several resistant the treat pointing will approach over number prostate papers have an out a pancreatic,

pancreas those expression of, those working at, are, cancers prostate. have also for and are with in neuropilin-X are I where labs that looking said, those collaborations resistant as we So example, specialized

we biology externally. a think, leverage the are I think continue sort we Internally is on it focusing the angle of neuropilin-X. think I to So expertise that cancer about more of way bit

Joseph Pantginis

if studies the, Got is just the And could helpful. clinical it. discussion in clinical for that's sub-therapeutic. study asteroid milligram take No, you example, around step X I that the very your forward, your considered paper one dose did mention

the levels. go "sub-therapeutic" if maybe reaching more So even potentially even zero, standpoint little a was though PI feedback could about it you why just the to I you're from would important curious, to be provide to

Sanjay Shukla

Sure.

XXXX in the set you toxic particular, in therapeutic of and study burden. bar we think X essence, low some we dose. patients is want milligrams, in the the exacerbate titrate want done as to sub that patients we'd talk remain because in steroids. certainly day, and up So see what at create to patients, the back they sort And these and to if placebo like the see treating at milligrams perhaps patients, that But X this you be of end I can with still to,

So we PIs, maybe opportunity, week did this in amended protocols if our at is the doing XX, the to completely discuss just off lens if well of we with you're steroids. an get the had there trial, we

here us. completely well, and why they're In I to it's our particular, why that an X patients try if not doing So win There's in think remove steroids. a component them doing in patients off. months well not are nice for are trial, ethical titrate

the this of learned trials, spending also our with to we've in something So time is our I and think course experts.

to therapy, the these they patients safety, approaches their steroid to are we more that or of get I demonstrate the begin off clinical are to whether sort folks more can XX experimental imagine But trial be on still blinded think you Because around not gain experience experts certainly, if even placebo. flexible as completely. they're experienced as to. or As doing can we taper want can more with

think I drives of it efficacy potential the really XXXX. home just

Operator

you. Thank

of comes Our next Please with Ladenburg Robert your the proceed Thalmann. from question LeBoyer line question. with

Robert LeBoyer

My question months, answered else if publicly was of couple just that presented but and there's maybe to that or anything to pipeline to on the add Pretty trial. questions, helpful? in be clinical next previous would anything to over that moving much

Sanjay Shukla

data a active any transparent open with to granuloma there I And be I've it. very an get conference in medical I we of data it's think mind and in that's worldwide forum be Robert. and my important this Sure, be presentation out to advanced really to like a putting we medical real spring market conference we produce, that data. actuality, think regards we'd targeting In about because to tend very for and where pulmonologist that see can profound together in to the in that, see a kind finding a understand because will that

And to want there get With number pipeline, the as specifically external be our cancer biology. currently active be those very and of regard see early also we're a of collaborations, some we We'd NRP-X perhaps some in at transparent and to can our then any we to evidence love experiments spring conducting finally, with conferences. you open in-house should an new imagine, looking out. and

in as important spring, have So conferences I or We AACR would don't now at for a an these abstract tuned. aTyr. are announced set such I the conferences here just ATS conference think But yet. say us and right stay

Operator

are It Sanjay Instructions] back to further appears turn this I'd time. [Operator no closing at to comments. there questions you. Thank for it like

Sanjay Shukla

to of data. are questions you We the our Well, month most update safety regarding for forward as excellent thank certainly an you Okay. looking next today. interim

in be the for thanks will again contact we So, and question.

Operator

and gentlemen, this today's teleconference. Ladies you. concludes Thank

Thank your time. participation. you disconnect at for may You this lines your

aTyr Pharma (ATYR) 14 Nov 192019 Q3 Earnings call transcript