ALDX - Earnings call transcript Q1 2018 | Aldeyra Therapeutics, Inc.

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Operator

Good morning and welcome to the Conference Call Entitled Aldeyra Therapeutics' Provides First Quarter 2018 Financial Results. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Steve Tulipano, Chief Financial Officer. Please go ahead sir.

Steve Tulipano

everyone. morning, Good Tulipano, the Steve first Aldeyra and Therapeutics XXXX I Therapeutics CFO conference to Aldeyra results. our call welcome financial am with to quarter discuss With is me Dr. today Officer Aldeyra Executive Chief Brady, Therapeutics. Todd of

conference performance started, we future to that statements Before we call the would forward-looking future get contains and Aldeyra. remind like you this of events regarding

projected sizing, plans, statements competitive other expectations, the and available and the expenses, assumes events statements statements. operations include results upon based are future company's of or and and environment statements Forward-looking industry update circumstances today things. plans as strategies the actual position, Aldeyra results regarding statements research forward-looking obligation and potential assumed these in to trends, information those to among development could Aldeyra's Future market company possible differ or opportunities and business change. no growth from materially These

to statements in Additional Press the cause factors from company's filings results could SEC. detail greater materially in with forward-looking information that the and described the differ our Release concerning company's are

Todd like Now, Dr. over to Brady? Executive President Aldeyra. and the Chief call would to Officer turn of I Brady, Dr.

Todd Brady

Thank joining to our us quarter all you discuss results. you, XXXX today financial Thank first Steve. for

collaboration recently pleased we've as initiated our quarter diseases. treatment two the Janssen of for for develop the are stage advance Johnson with the our novel pipeline at Company particular, of to inflammation. in late we trials first We with progress XXXX product to & immunological announced medicines and continue treatment In Johnson clinical of

Anterior second or year conjunctivitis and dry results Phase Sjögren-Larsson in we eye to late year. Phase allergic noninfectious in X Xb Syndrome Uveitis and results results to this half continues and this grow announcing pipeline forward in X next year of Our disease XXXX. Phase early in the in clinical look

aldehydes XX a by represent approach Xb therapeutic the we of inflammation mediators year trial We trial for X other initiation of conjunctivitis. reproxalap chronic United patients topical initiations treated diseases that compound year, affects that represent XX believe disease. this States are the approximately our reproxalap allergic patients by product dry markets in eye the a is United this that Phase for our Dry is suffer of allergic not and we related potential from topical estimated Reacted the an In announced are caused and to RAS the ocular Aldehydes in January new medicines. refer of currently and developed clinical Phase lead in million available thought condition States, as April target. Our of clinical million treatment And which candidate or that with Aldeyra which and inflammatory. in proven reproxalap to we a announced are of novel large. sufficiently ocular in reproxalap eye disease And inflammation ocular the of conjunctivitis Species

For by disease, dry that be mechanistic for reproxalap considered condition could physicians is generally inadequately approach treated. to a novel patients represent a and eye

in decades. approach of disease, in conjunctivitis, inflammatory for represent development Analogues retinal systemic as pharmacologic the well first are allergic could reproxalap For disease. new reproxalap now as

X program steatohepatitis inflammatory expected Our next non-alcoholic and bowel inflammatory include clinical disease disease begin Nash may systemic or to and is year. Phase which testing

our disease, candidates continue number Phase and of experience chronically Crohn's inflammation, X arthritis dry complexity clinical novel replication. physiologic inhibitor of autoimmune expected ulcerative to psoriasis to we the treatment disease, disease inflammation treatment as that that begin demand year. and approaches and and product uveitis, by colitis, therapeutic testing to immune in of earlier to protein therapeutic the a XX year, different novel destructive ADX-XXXX given ADX-XXXX require our the excessive next this in novel diseases believe eye liver thus generally explore is for aggregate lymphoproliferative in In inflammatory we'll the to such that new of a nature disease, of will broad largest classes of continue heat of serious in inflammation Capitalizing we filed autoimmune with on shock we cell for the a one action, the XXXX rheumatoid have part drugs continue addition, allergy disclosed therapeutic health of our SEC conditions in approaches, and represent with class XX-K represent characterized license care. of grow mechanisms treatment intend

our & forward development a modulating with improving Johnson look that goal we of the to therapies, in of immune effort We Janssen, world Johnson is to today & patients pleased medicines are Johnson to the with the novel towards not leader a to the develop company for and treatment particularly treatment many partner treated continuing Johnson inflammation. existing options work are for drugs. adequately of in

Our growing remains robust. pipeline

fourth this or for results I mentioned announce in Phase early Syndrome results expect year. year we to in clinical results one next year. the X X And programs quarter announce dry allergic non anterior infectious of disease in Phase Sjögren-Larsson conjunctivitis to inflammation Xb trial in Phase uveitis systemic and of eye second of the half we expect XXXX. part Phase from the to clinical X earlier, addition this In And

we disease. medicines progress we next-generation forward developing to look mission treatment the on to you for of of our always as As update continue immune-mediated

like to financial first Now results to Steve to call discuss quarter over I'd back XXXX the the .Steve? turn

Steve Tulipano

Thank you, Todd.

concludes last increase last the as clinical XXXX, year The of expenditures, net XXXX. and diluted as $X.XX costs, research and million administrative trials Losses consulting personnel was the increase In expenses XXXX. year. the development compared million net an approximately of quarter to increase last legal for million, million expenses. share and for of we $X.X compared marketable per $X.X XXXX, securities we of from the and same compared participation. the you the manufacturing, $XXX,XXX approximately Operator, share first remarks costs your XXXX, costs. to $X.X the of today. the resulted Thank first period of equivalents, the first of expenses including quarter and million end million $X.X is general for costs, have loss per was prior million in quarter to were research million related General million clinical That $XX.X same quarter in compared now period first of net and of total increase to like personnel development Cash, operating for $X.XX our costs. were in and related a for loss preclinical, an year. $X.X first The and the the and million $X.X reported period expenses to development rent, compared $X.X programs, Basic administrative to from would $X.X as the in For and of R&D well primarily to cash year. to primarily of same approximately were call our a quarter the and for loss were patent-related $X.X in to costs, open increase our XXXX. questions.

Operator

Please Adam [Operator Instructions] Walsh comes go of ahead. first The Stifel. question from

Neil Carnahan

What define looking This could help for Adam. guys. Carnahan you data? would positive I understand be wondering a there? dry if eye Good to outcome us in what for morning, the upcoming was on Neil

Todd Brady

If Phase and to Great. and trial the for Phase Phase is powered Phase do any is to from Neil, that trends vehicle this do thanks Xb to question dry we we X X the Phase and X. and vehicle although What program Phase to The that -- what moving I how success differences is good initiative X or scenario X? so so a designed is is a be look design it's do of Are to we say a success-- X important Phase in arm what so, kinds that other Phase do purpose study. successful power we have your for Xb we not is X? Phase and that in X? detect note what morning eye in of question. is like Phase It's would great see a plan success big about

Operator

of Please ahead. Newman Canaccord. John from go comes question next The

Neil Carnahan

morning. Hey, guys. Thanks taking my for Good question.

So up follow for Todd. the on question just last

So, I Phase did I for Phase studies eyes those of significance ahead Todd, neither a of statistical one correctly can to X of course show think they if trend if hit the -- that and dry I it go but remember remember for Xs successful I think enough a can Phase companies will run X. trend did and

in So X Phase those the vehicle side that bit it's of also I Thanks. of through than could us can the orally and you the side. people company characteristics maybe just watery then on more the you finding goes a remind your a normal remind think process

Todd Brady

dry with different different concept eye Yes, comprised eyes Phase John. from Great. is an Thanks The probably for a X dry diseases. suffer the interesting ideologies. is process. patients of dry bunch in of many really The of really question. eye

a small a expect does patient X not typically one in to statistically vehicle. findings significant So versus see in population trial Phase

of X other is The Phase dose ranging you mentioned as part John a process.

vehicle. obviously and X concentrations effective the topical dose in dose the ocular find doses of versus two have point or The Phase reproxalap two to We trial. that is into then lowest move

which directly The to the the that patient is in X findings signs you X. will and measures other Phase identify signs Phase physician test symptoms are of that which in part and

vehicle in on on Phase the know in significance you As X. symptom statistical versus FDA requires a a sign

extent you in Phase you're things And for in move strengths response [Indiscernible] are some question are seeing Phase those and once What what were intending to Phase dose tough is to to correct of particular higher really What as and going success for process. and endpoints forward to [Indiscernible] very X? have evaluate signs bar So high into symptoms trials earlier is obviously what X Neil's Phase are But the your chance of to I mentioned significance. statistical figured a a design for are X terms you that in you PhaseX. generally X out test. are a particular

going address efficacy have me because is important question the vehicle, of versus a the not important your Let that if vehicle company vehicle it's activity. lot vehicle compare about to a is

eye not probably prevent oily. importantly our of know a may just not large moisture it vehicle eye loss placebo is is real the you oily and that vehicles on top is oil effect disease, a vehicle you mentioned As as do a effect effect, have soothing, there in but dry and

the improvement at evaporate And be oil any would contain than with all. kind of would an the doesn't it oily symptomatic or we it our quickly if that than the is any and hope more water be vehicle. transient fact, In vehicle had would vehicle sign

thanks for the a That's So important question. John. that's thanks point. -- an

Operator

go question Jen & next from ahead. Please Laidlaw of The Yale Company. comes

Yale Jen

sign maybe studies how you taking given those on words Phase that few consistency do signs even on the scenarios. assume In one a up possible that thanks follow let larger Phase Phase morning, for further. for eye, that the and with X about questions. Good much pursuing difference or potentially couple And and causes and Phase doing to move the the the suggest the read different you candidate signs dry out going and for the want the try let's mean is let's on symptoms X to symptoms get further. still you that be and forward? other to gentlemen. go be and to What a could and the something see Maybe that how might X --also I study financing whether a X think directly focusing you

Todd Brady

X. be we're to able Phase current That's are intent a than statistically a good we'll think possible, to out move to I again the question. I hope now Phase but what figure power trial trial. large to Yale. the of would is running Larger how certainly Xs

been news program already good we've our trial. for the Phase think through is Xa I a

this of have good the a in drug of We patient our population. sense tolerability

don't are I think be I plan improve. and of ahead per Phase are signs of go I with the patients as XXX active fancy Phase be a that assessment. invasive to X Phase symptoms There's that expensive of versus signs these X what X. the most about administered be to vehicle complex programs hospitalization this thus in a sense the symptoms treating diagnostic ocular likely and tests trials think that reasonable topical those to can well-positioned arm drug relative is three that assuming industry. self and Xb nothing of The have the that drug we no administration think the development initiate --there's in trial Phase kinds in need and we a terms or patients, there's to beauty And are not --in should run. current drug no

or disease companies small financing even in conjunctivitis which allergic we're not trial for that X and now that entirely a expensive, feasible. think I Phase it's running or So dry uveitis even is

Yale Jen

conjunctivitis very What more time year against very, to helpful. at next follow-up questions data or of great. quarter one and expectation what and sort fourth just after? be have early might follow-up you Okay, to be this on available the may be And of That's year. this might

Todd Brady

It's allergic about. Yes. excited something an very conjunctivitis we're is

I there has allergic As new really in mentioned decades. my in conjunctivitis in no been comments therapy

the current but believe know cases in of can't steroids, conjunctivitis not with States the is disease are allergic antihistamines United patient we as From is a that million. and severe In served fact, XX number, today long you treated about primarily with be the number steroids used term. population patients in medicines with well

we're We're a analysis. differentiate attempting dry larger than actually X the is eye. to use excited one because Phase ways program our responder to about So of

I responder of patients on on proportion numbers not from that this our proportion of potentially to been Phase conjunctivitis. in has small Phase analyses We have that a the never kinds our standpoint, where whereby it's physicians something can at comparing comparing And statistics they standpoint across only allergic think than done utility clinical also regulatory disclosed and be and of X, the readouts that drugs the we're from yes. date To even we scores the respond groups so statistical of in looking respond from Xb knowledge, vehicle, differences. but should couple be those trial and powerful will that in of the different a mean and patients really versus when we're were that supportive explain achieve marketing way patients meaningful rather come forth. And year to patients of I interesting, quite to this just out a think data able from

Operator

of Seaport. from Davis go ahead. next The question Corey comes Please

Corey Davis

question to my mind. been analysis counted the going has but but before I if responder? the what that can the for And before disclosed use endpoint? us much. up that peeked be I'm And as on ask sorry very as bringing you was different to of Thanks a kind responder never question your using patients in a remind you or what has an conjunctivitis done was this this is a impetus are been idea? Was to allergic FDA urging if criteria

Todd Brady

also X and path conjunctival is used We're model -- that I changing. is part the a where of and any patients a to relief the itch disease disease is nothing incredibly on so added, What eye. a regulatory for about your assessing moving for need X. course clinical we're for scores and patience unique itch trial terribly clinical time. itching patients X, There's medicine for their been of ask not exception That way control. allergic approval. design assess unique response. Well short and period is about after taking to X, think that to of scores with still hour utility. in typically is minutes is something either. I bringing a unique medication of different otherwise minutes not just or that in an will asking only different sense. us decades like everyone allergen vehicle used need from And as and trials They challenge design X clinical the been period antihistamines we a think X has of patients put same There's that is be meaningful, to over point extended the however, field of clinical do an scale time Obviously what's where is of the responder meaningful nothing that trial analysis it. meaningfully is Corey are with response medicine the allergen which twenty the to of that only That the we've a different that not patients those patients assess an approval. What to be I towards from instilled to we're more into one seven well-worn hour years their minutes. history statistically the of aspect only seven in will thirty X the your a suffer for that's for what regulatory of eye, allergens about to of that is conjunctivitis in have you their out ocular up is done That's rate period field in over it's to the we're compares

discussed clinical I highly had the we've Corey, And direction XXXX And FDA and the from assessing with think these moving FDA the is our added so FDA. we it's In with I at the that that's colleagues regulations think in dialogue We've general, in. field consistent the lines. something with along a utility. robust that on

Corey Davis

of to to level counted be need as a achieve what In responder? response to patients in order

Todd Brady

to right. two X we your from response address Right, score. that I question. response If scale the was a X, defined point part to neglected have peak itch of is

right is recall two few responder then or at you a installation change two a is why on that reason that minutes they put is starting itching The improvement basis. a because is So are. points or right. doesn't dramatic you're they where Whether it X to Xor at cetera. X a et person important X X change X assess X or when itching point after would in score defined a if become matter two the their a will X to is at most after is the severe few patient's three that point two allergen of minutes point its a become point And you or response we've patient

incapacitating a example X X incapacitating, itch, in mild case of X So X for is an the is to itch.

response. we've to a why that's a definitive priority that changes of clinical point two picked are representative And responders. qualify those So amount

Corey Davis

how And finding dose, can and secondly dose maximal dry minimally doesn't to is side thinking but your original have side you found seem as mentioned want effective -- the that important the back dose questions more others, I as sure when to the can I were efficacy? effects than am that you to which a issue that then about of some bigger highest given many go are one you product asked give that effects eye be you the more

Todd Brady

long haven't both answered and science been a we'll arrived. seen there's doses dose. not sort amount same the what groups. to those Yes, is minimally pick obvious always pick My that both the in X.XX% If These in and in both that trial. is efficacy in of of to than the good that's or this tolerable tolerability, regulatory question. easy this efficacy standard. yes, assuming both if tolerability easy. have for It's which but right testing show standard with we however year. lower across data an I reasons. work regulatory we'll picking the dose dose, is just there time. doses question a signal, in this I an But, though a It's this reasonable I concentration well. advance. and a effective doses And the no, the always the concentrations data of clear of higher Yes, are case would hope Xb see course amount art is industry concentration is testing is when tolerability the we Phase pick and lower the it lack of more efficacy with we're mean the show That higher case doses the or currently we'll advantage this sometimes signal a you if really is guess of same both the X.X% later we're if concentrations be there's

Operator

question-and-answer Thank for conference today's attending concludes session call. This and you today's presentation. the

now disconnect. may You

Aldeyra Therapeutics (ALDX) 15 May 182018 Q1 Earnings call transcript