CNCE - Earnings call transcript Q4 2019 | Concert Pharmaceuticals Inc

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Operator

Good morning, ladies and gentlemen. And welcome to the call to discuss Concert Pharmaceuticals Fourth Quarter 2019 Financial Results. At this time all participants are in a listen only mode. Later we will conduct a question-and-answer session and instruction will flow at that time. [Operator Instructions]

to conference like host to now Ms. would turn over the your I

Vice Communications of Please Koenigsberg, President Justine Senior Corporate go and ahead. Relations. Investor

Justine Koenigsberg

Pharmaceuticals’ update. Thank quarter Stephanie. Good and to you, morning XXXX Concert investor welcome fourth

our Joining me prepared our Officer; CEO; with this CFO. Development Cassella, Chief Marc President Roger our remarks Jim and and are morning Tung, Becker,

the our for the Officer will be call. We Operating also joined Chief by portion Nancy of Stuart, Q&A

today’s can plans update filed found and Any a may about speak made SEC. expectations, As differ today’s forward-looking our to projected. date, subject include risk discussion our cause those most assume description of statements A call. to that statements be no obligation These statements and forward-looking with factors any on prospects. we risks reminder, will to results materially the recent uncertainties XX-Q today’s forward-looking are from of statements future and these as in only actual

now the that, like With to to would call Roger. turn I over

Roger Tung

Thank you, morning. good Justine and

As relating proprietary to to us. we an the set important each key for be stage milestones achieved compounds that our year pipeline of for XXXX Concert's enter this

two stage candidates towards product We clinical wholly that advancing testing. we're distinct have owned late

trial Phase alopecia potential preparing XXXX. areata. initial First second is CTP-XXX to for later in to X move begin testing this CTP-XXX schizophrenia, with We're studied which its being in into for testing pivotal is and year, is now

Phase autoimmune ranging reported This candidate our this striking we results poised CTP-XXX. ahead the dynamic advanced to The conducting results fall, that's areata. evaluation. from dose highlight of past into in program treatment CTP-XXX me be be areata by data on altering the companies Based trial. treatment most state pivotal disease. other treatment year this let were we any these alopecia First, from has alopecia We're most X of clinical for moderate-to-severe our what a say move to the the robust providing and best-in-class trial reported findings, for control those the to life believe generated to potential

intellectual this granted alopecia a new CTP-XXX, Turning treating pharmaceutical this consisting methods and protection of with the CTP-XXX The for strengths for year, CTP-XXX. of early clinical underlying compositions the earlier expect our dose to areata property robust that of patent we patent to provides specific is Areata that relating we were forward covers it issuance doses Alopecia Phase program. doses that and the into observed significant trial because results for to produced Phase X X our carry in

It's avenues broader our Orange an X.X-inch expected is to XXXX. additional patents for And pursue patent IP for patent of continuing XXX. strategy. The these Book new the to on of CTP-XXX. important development issuance is provide approval We're protection multiple eligible to secure protection within

and to motion vacate a As granted Circuit Court remand the recently our matter separate our of patents. Pizzettes to decision XXX relating Appeals Federal

for As highly the of CTP-XXX independent be patents the We development for areata XXX result, continued Pizzettes. a timelines we issued which remain IPR panel of earlier will treatment judges new and new on a the from as alopecia year track. by a committed proceeding is reheard of separate potential advancement to this remain and our

one Next, pipeline initially adjunct our most in devastating were second developing costly let to of which disorders. for as property mental turn me CTP-XXX, treatment the an debilitating, schizophrenia, candidate and the

the disease range one and worldwide of that and schizophrenia, of in a treatment CTP-XXX prevalent a population. highly new approach We affect may enable believe mechanistic represents believed nearly existing and psychotic symptoms is broader do Schizophrenia effective to medications. of X% that treatment of

can NMDA an cause patients by to veteran benefit which We helping of be indicating designed CTP-XXX important academic on remediate schizophrenia to to widely is expand studies and function, schizophrenia. D-serine hyper leverage believed with that

profile. D-serine of Furthermore, from differentiated in is CTP-XXX renal was that our Phase renal apartment demonstrate trials. safety data no X its evidence improved preclinical Our by served dramatically

fluid. are have different plasma medication to levels Patients with spinal CTP-XXX could treatment and that's cerebral a endogenous D-serine and correct standard of low new option offer levels of bolstering on patients from antipsychotic of fundamentally Therefore, antipsychotic top medicines. reported their schizophrenia D-serine with

As controlling transmission outcomes. poor in called existing major reminder, effective impairment, symptoms treating typically know a poorly medicines so reasons on for focus negative are cognitive and patient dopaminergic which

patients evaluation This and program our X we evaluating adjunctive advanced rapidly X treatment Phase through as Phase trial initiated December in from in with an schizophrenia. CTP-XXX preclinical

among for these ongoing as to summary, strategy of latch developing, on near-term potential two business trials diseases potential reached clinical community eventually we've overall and important the track positive strong. execution well the clinical We're selling trial in of treatment Phase protecting has our our of compounds been developments by the top-line The In groundbreaking as enthusiasm programs novel report X and year-end. very results for the with the designing, horizon. point proprietary today in exciting in with

our by year XXXX, which a our emphasizing remarks we significant for see is me milestones of company. my for Let optimism conclude

As forward progress we towards updated. inflection points, make look keeping you I these to

to XXXX we pause clinical call to the open then results ask Marc progress. questions. financial And discuss I'd will before Jim to and like here our review our

Jim Cassella

Roger. Thanks,

lead As Roger alopecia positioned schizophrenia. areata for drug CTP-XXX both candidate development clinical just to of described, of on we execute well and CTP-XXX are the our for

a to this need continuing the are it an are possible. we areata alopecia as effective bring CTP-XXX profile, profile advance for the product with to patient as We and safety and quickly to focused favorable for highly treatment on meet

in for Phase the three XXXX. of results reasons. to the are track are significant X X to we program this CTP-XXX meet quarter with program Phase meeting. We of this into the perspective, half Putting outcome in second Pending expect the on meeting, the FDA start this

most in the our robust provided in for areata, ranging believe JAK to-date treatment benchmark and inhibitors areata. dose being new alopecia the Among trials X trial. clinical we oral efficacy CTP-XXX of developed to generated we a treatment data the First, set of Phase appears the efficacy reported results controlled for the now any have alopecia

efficacy doses which two of promising identified assessment with and have and CTP-XXX both profiles, trials. believe tolerability we future we suitable for are of Second,

twice dose compared of faster to XX group the also greater We group, effect. magnitude twice and advantages milligrams some X-milligrams daily onset see of dose daily including the

is intent patient seek doses, of and approval BID further Our XX-milligrams options and in will X-milligrams to the BID clinicians world dosing have so both and that ultimately test real use.

ranging twice out of daily forward. CTP-XXX from this the on results our open and results, accomplished results in learn our arm to intend we We label what set twice Third, dosing clinical of study to Phase with going regimen with trials, utilize program based consistent we in were twice X our CTP-XXX. X-milligram X-milligrams daily the reported trial daily previously our dose dose development

are we our AAD for accepted at Additionally, abstract next that month. delighted was presentation a late-breaking

the endpoints is opportunity efficacy endpoints further will presentation the elevate Our study. reported a expand the reporting other community. to the results Phase patients from medical by the quantify trial X previously great program dermatology that the hair within This regrowth on primary of in of

to now Turning moved with December, to CTP-XXX, our CTP-XXX X program. initiated progress has in Phase this our trial swiftly team we patients very In with schizophrenia.

we patients CTP-XXX injunctive XX-week We X X a X, reminder, evaluating are Phase XXX in intend daily treatment period. their be of for in antipsychotic Patients on X will and schizophrenia. placebo approximately to enrolled medication. over treatment a As XXX trial randomize grams as U.S. once existing stable the compared an we're developing to

an potentially that schizophrenia, negative and medications. in antipsychotic to the symptoms schizophrenia, CTP-XXX new improve positive antipsychotic Our including entirely optimally surgeadrenergi mechanism CTP-XXX has of to primary cognitive not symptom We and assessing and broadly symptoms added standard addresses believe is offer action treat existing when domain treated that rationale potential dopaminergic to more with to on and for the a treatments. function,

In syndrome primary otherwise as total the endpoint in employ score will and assess compared the to will measure PANSS X baseline. change week positive outcome and Phase PANSS at primary trial, negative XX known the the scale, the

to The contains symptoms, symptom positive The evaluate used psychopathology. of XX in symptoms, on one three items Items a into seven. general symptoms PANSS commonly that are with individuals is divided negative scale domains schizophrenia. PANSS includes scale and a rated to rating

can calculated. for and Scores can domain total score be symptom derived be a each

have also endpoints, We the as as social secondary performance the scale. scale, including impression clinical personal and will some global well

can the year Phase the assessment and current as related antipsychotic comprehensively or treat can We're to extending we positive and agents schizophrenia from items more by will these the the subscales amplifying provide PANSS, with by benefit for greater effects -- are of move specific that For CTP-XXX, changes we function. hopeful also symptoms, well to expected and as of XXXX. data cognitive we to negative the Top-line X patients. analyse study

It both front, look CTP-XXX a updates XXXX on progresses. year a to CTP-XXX as and will productive exciting and on providing we be forward and clinical

review discussion the me Let XXXX to and turn pause financial the results. to here Marc

Marc Becker

you, Thank Jim.

were XXXX, results, to press the financial Research in XXXX $XX.X XXXX, million $XX.X release. please compared in of an development increase our and I As tables in million filed review expenses million. financial today's reference $XX.X

The research X development of development increase CTP-XXX, X into manufacturing as X to trials and related testing. expenses Phase Phase the development clinical continued primarily well to as CTP-XXX costs of support in and Phase

and $XX.X to to is in $XX.X in primarily XXXX. expenses. employee decrease expenses administrative General for attributable The for legal million million and were XXXX decreases the period compared same related

Our per $X.XX compared XXXX. share in or net net share loss $X.XX million of loss or per $XX million $XX.X for XXXX was to

follow million and January in of year, Finally, fourth approximately equivalents we completed with the net a million. In this XXXX offering on with ended $XXX.X we of quarter proceeds $XX of cash, investments. cash

As cash expect fund half plan, into the of to a company current our under our XXXX. result, second we operating the

at proprietary achieved set for it call an important our mentioned the relating the XXXX Roger pipeline, key start us. has for Concert year the be milestones to As to of several stage

for The for advancing CTP-XXX owned company. makes we towards is a or us wholly for XXXX stage which CTP-XXX, our two late schizophrenia, year clinical of milestones of execution significant optimistic and Our alopecia testing. for areata, see business candidates ongoing our product

concludes and to This address be our questions. remarks happy any we would prepared

Operator

Your comes Joon the SunTrust. Instructions] from line first of from question Lee [Operator

Joon Lee

taking for Thanks progress. my guys. all and the congratulations Hi, questions, on

And patent the being basis panel? to granted prevail how understand you. around matter the what strategy patents XXX, you And critical for light XXX could Thank of what's for patents, help patent? with of Regarding follow-up. time the protection? in competition you the XXX of it have could is your is and I they prevail a the this giving XXX competition us matter new already And

Roger Tung

question. the for much very Thanks

be we process property which protection important last issuance. have your that intellectual will one, overall point really an and are aspect patent strategy the in that will we are believe provide patent the the beyond. seeing is salient of That's strong for filed think hopefully filing really most is what with additional we I is what and XXXX So, new CTP-XXX of our an

for excipients is new pharmaceutical what into to CTP-XXX pharmaceutical the regard to covers, humans. that of with is patents So, combination compositions, it dosing specifically a and relating

levels, As X dose which intend related we to ones dose the course we into take the case Phase product in that that study. and robust Those results that are, to provided saw label. with the were the our on our have eventually of that

product around further alopecia written that. have validity for areata that opportunity any oral those of arguments have to as of We patents, claims CTP-XXX, we've but this the would therefore, advantage XXX take additional obviously With for arguments as the patent. that additional the for prevail provide as we hair specifically know should And point or if the made of believe of we sense, XXX. what the will respect argument treatment frankly and at we protection arguments, that well will loss an don't use strong opportunity

Joon Lee

symptoms. have And some like Huntington's, programs to lot known list that for for your of antagonists an for Do Great. there positive that associated seems illicit looking those down scientific for an a of few. Parkinson's are any XXX schizophrenia road? looks the using like, and And is rationale agonist Very it treat like for given diseases competitors MDA as schizophrenia, impairments it schizophrenia a helpful. to well indications you balustrade plans with modulator Alzheimer's MDA at cognitive this the

coagonist. both much. may why better be you site site, approach you that than glutamate And about a targeting talk also, the targeting glycine Thank can given the very they're maybe

Roger Tung

Sure.

as glutamate outcomes negative excessive and potential coagonist of a with more schizophrenia. So, to site patients deficient literature whereas toxicity, lead exposure the terms related really to to that is be specifically specifically less the is in according associated glycine in of is with

glutamate literature indicating plasma both the fluid the levels believed receptor is through are be spinal with important FBN levels of patients in There's a most which extensive schizophrenia. to of series, coagonist MDA the and fairly that low

symptomatology itself toxopsychotic that's and of with along domains schizophrenia the D-serine And rationale well not studies our enhancing can which the treated the for treatment that well as initial agents, positive course with such are in that by symptoms, suggested it current remediate interest other including potentially overall cognitive domains. as academic of symptom as both negative

been strong across there been schizophrenia, there dysfunction for been symptomatology specifically glutamatergic interest you enhance of As now interest through of applied has other three negative a has transmission indicated, diseases. that's to receptor. attempting and NMDA in has the probably -- number and remains to to And areas but decades a cognitive not only that

our are indications. We, interested expansion But towards use very significant trying of in that very And of study. we'll CTP-XXX. now, to and schizophrenias course after positive of run on we're positive course focused exciting outcome in a right of statistically work

Joon Lee

you. Thank

Roger Tung

Absolutely.

Operator

from the Lisa Next comes Your question of JMP from [ph] Securities. line Bacon

John Walden

for on Lisa. Walden John is This

end the what endpoints the your end your to meeting? questions couple of two X doses what patients. of quick of number me, duration factors forward from And discussed the but you discussion X as of kind far moving where Phase a starting are Just thoughts your as And at are trial? key the Phase then gating topics for

Jim Cassella

sure. Yes,

Hi, is So, the question. Jim, this for thanks

be the whole talk only not -- about Phase the the aimed towards but will meeting the, pretty are this X Phase program comprehensive X plants our and also to means specific registration. So,

with the in so patient focusing just that trial we alignment need So, get X, -- there the et obviously things characteristics Phase on the, on of to duration endpoint including cetera. FDA the are

to where our think dose which BID we're in been definitive able We Phase endpoint very, a trial carrying X ranging the a because position dose that very not ---will identified X-milligram identify we're salt as an we've good we're identified our a did range. work trial dose using the population We that was relevant for tool. not We the X Phase forward. and and patient assessment be program, obviously of

Phase have meeting of Phase sites for agreement again will so database the with So, X that able go FDA, do the and much our discussion. evidence very talking to the we get with be a supply to X solid also trial chain on talking and the and general FDA perspective for XXX the for program Once X will larger the the going Phase plan into the on I good get be study we'll logistics ready patients. assuming a of we our think we're agreement to up support order, that then be or a portion and plans that with in

multinational This trial. will a be

currently working Canada, are and plan in into Europe. the but we We expanding U.S. on

So, there are logistics to get going for that trial.

the we So, be going we will half second year. able are in to confident that this that of get

John Walden

with then you of discuss thoughts kind X positioning? upcoming And your Thanks. program just overall Great. that and on your baricitinib Phase competitive the study. Can

Roger Tung

substantially at And we that dose currently to approved. higher patient of right respect are as had has today, reported areata, of now, With John. thanks, and baricitinib, in a it's Yeah, who a been what tested. terms data being single results have actual don't doses about in was that's clinical there's alopecia only confirmation and

we at baricitinib with say I current to the have we that point, think other respect of a is don't label. go along to this than information lot So, can what product

know, not the you compound. X-milligram warning level at was with level, baricitinib a the at and significant X-milligram was approved As with U.S. in black but the associated box approved

put being are So, are what deal the for that it of up to will how dermatology seen going division tested with doses approval the compound doses what remains and to be approval. and be

this a So, tuned of it's point, at stay situation. more

John Walden

thanks Great, guys.

Operator

comes of Walsh Stifel. line with Your from next question Adam the

Adam Walsh

on I questions. I'll of questions. add Good a morning, have the my Thanks for recently. guys. progress And Congrats taking my couple

us I'm just at on looking data for that to the guidance X Phase for The some can at that. the give I'm end timing is, point. around and in granularity enrollment by granularity your this XXXX XXX first any year one you get trying Thanks.

Jim Cassella

Jim. Hi, is Adam, this

and as I so, and end trial giving think by But yeah, are data can readout can't specifics still the things guidance are say an we the So ongoing of here. for going talk we expected, that, it's I think, the year. I really we

Adam Walsh

are I'm so, or different in decisions. decisions just when XX with foresee XX to any, patent Okay. months, or next hearings of of any court for battle can over and litigation the timelines layout can kind you curious, ongoing terms And insight, might you the if there of then, we PTAB be kind the can you getting

Roger Tung

Adam, Hi, Thanks this is for questions. Roger. your again

As you be to at I and - of unprecedented, I done that of with of order PTAB ruling, which let's don't really Arthrex point, this pooling. was in how under we think believe of you the know PTAB the the and is say visibility going dealing a terms vacating lot treatment have was

it possible don't this timelines timeframe. because So, for the be of it's really also a just back go it's At point, quickly situation. that adjudicated this to more entirely than we it'll on, typical be no anything kicked But have that under that. will one-year possible there's precedent

Adam Walsh

And then say on I'm has historically new we Roger kind and just anticipated should the curious, the relevant I mean, then that there a new issued? what of now expect behalf on been response patent is Pat,

Roger Tung

it's of course, think any situation we that patent case have a that be I believe for with that can reasons. of reason. challenged patent for a the We Well, number any strong

provided of Phase X under strengths dose a are impressive that that the covered indicated results call very them, specific that the I clinical are study. the One in on is patent ones as that our

XXX well patents. is the very office compound, patent full And The a of regarding of that specific protection matter knowledge the with very specific litigation it's levels patents. also as particular in was of the composition enrichment as of compound to the so existing by CTP-XXX, deuterium issued of and narrow

a if is position So, it be that challenged. think upheld we strong very to overall it's

Adam Walsh

speak know the but kind how spending? then overall kind about the on sequencing SG&A think of you. thinking R&D, we should should to cash you And and be it about XX I'm the even really the the helpful. guidance, the OpEx, next we you've the the the Marc, just I just Thank of months? out ramp in how over you. That's can to given over kind during next the quickly of Thank quarters XXXX XX curious, Roger.

Marc Becker

for Yes, thanks question. the

will yes, into mentioned XXXX that natural second up expense the we're earlier, expense, XXX. last go Phase XXX with trial into planning yes, is for X it will up of and that and the X R&D build the Phase for we half cash on a regarding So now which trial

ramp projecting will burn year million expenses sequenced rate clinical to So, and the that laid approximately up according out. $XX this that development be we've we're for it is the will milestones

Adam Walsh

very and much congrats. Thanks

Operator

Esther The of next line from question Janney. from comes Hong the

Esther Hong

Hi, good morning.

Roger the as new. Arthrex, the & mentioned, ruling So, Nephew Smith relatively is

speak other ruling under Thanks. of in and that reheard earlier you XXX are cases outcome, being can then occur? patent cases of the when So, to queue the that and any outcomes may those the

Jim Cassella

thanks versus the case very can't on lot Esther, much associated with expertise a I Hi, to Smith for of Nephew. question. & law claim have Arthrex

I first Of been have there it's get multiple be any outside and going other presumably know rehearse. case of other vacated that that are that to cases, remanded have. also law cases into course, I'm to to not the because this itself try to Arthrex, to remanded. of We the is claim expertise But and

Esther Hong

also, on the congrats thanks. Okay, with programs. progress the And all

Jim Cassella

Thanks very much.

Operator

of Mizuho next Yang question the with Your Security. from Difei comes line

Difei Yang

my taking for thanks and morning, Good Hi. question.

to expect be a you one is with of we call, press related should X end or Phase couple, to the the would the designs the CTP-XXX. findings there? holding what release or maybe the expecting FDA, first conference a After Just meeting

Justine Koenigsberg

program. we our X for guess, expect it's of here. Difei, out communication lay I to some would plan form Phase our Justine

Difei Yang

showing versus a we Okay, How subscale? of the a negative is CTP-XXX, historically, syringe And should think great. understand assessment about for that follow-up of then terms seen XX-point data roughly the difference have scale negative placebo which the we the in of Thanks. difference on score, clinical symptoms. so

Jim Cassella

it's Hi Difei, Jim.

the we symptoms. of multiple reports literature, negative where there's been think positive positive on and when So, I at the -- of domains look

as SANSS that negative from well been symptom been used as the think I the there's PANSS well. and for has factors

been positive movement see do both meaningful I benefit symptoms the think is trial the as this SANSS we we see negative what PANSS that there well. in where and has on scale

using really terms information all tried when the So, of designed be where trial, I that to for positive trials we we the a get triangulate individual our we those to all sense subscales. we had in from think would

We remind However, patient. us the literature functions, score, the in the are we symptom to know has negative can and it can you the look what looking scale. the I as want on that by at improve allows positive score. cognitive the move holistically symptoms symptoms, the hearing Because at for does total that total that this move that shown it it measured do PANSS us, to PANSS

on at is holistic those So, parse still total improvement. we looking But by the can subscales out. PANSS focus our treatment patient the the of

Difei Yang

how much, psychiatric explanation. think Thank concern? we time always the you about we the should sometimes so Then sort related my trials, a final Jim run for placebo is, any response question of placebo is

Jim Cassella

Absolutely.

always an placebo it's Now, been trials CNS is is issue. -

keep As possible. we things placebo for been lot spent will keep long that it the meeting design trial possible. you response at as doing really know, the of We've to investigator in time, a as in low as the a trial the and I've of low instituted time really this

a making that hands stability are they the medication. of basically actually with qualification and period looking have We their screening for patient we're complying where antipsychotic sure on

assessments We've you that the placebo can need we done amount multiple to do response. that things where clinic things reduce to in know time the don't of influence

getting directed other very at in PSP the CGI. the we're endpoints, and two and the advocacy assessment secondary So, our PANSS

control. really think built a keep I we really placebo lot to trial response in the things into of So, under the

to very you'll lot we're really past a with sites really variability those time my to focused past, for can of I've these we the a spend placebo that programs, lot is reduce increased in worked that thing using experienced on lead other sites, of The response. know trying CNS

by by really the by like way, we factors, the and placebo we the trial, comprehensively we control multiple way, I the think the the can we're trial say by ,I working the to trying with way, are hit designed sights. So that

Difei Yang

so wishes best Thank and Jim, much, you in XXXX.

Jim Cassella

very Thank much. you

Operator

of Your comes next from from line Garner Robin LifeSci. the question

Robin Garner

Good to thank that patent excipients first newly hear further the issued morning detail of the claims can team my taking any how the provide is questions. on are under important Concert I'd are for covered of question and delivery to the for you those and the CTP-XXX My regarding and love you treatment? they

Roger Tung

is Robin, much Roger, Hi, this very thanks question. the

end, covers So, the principle, which of is of XXX. is CTP-XXX we alopecia facts unprecedented the incorporation a specific in that areata, delivery of excipients, areata. in patent What discovered alopecia has specific a enabled old amount that level of with directed an molecule in an in this utilization or any the form a the any for of treatment specific results disease other treatment remarkable the frankly, of for in deuterium specific the for previously

the on state for basis specific XXX And patent of the a of going provides disease the of issued that [ph] NTT-XXX, and set delivery of NTT-XXX the both treatment that the utilization which was the forward.

Robin Garner

thank that. being X might very of also achieve able are that being end in in competitor the for regarding show Okay, also any and terms is on endpoints insights that Concert used, CTP-XXX us points. Phase Can programs you comment, used X much by this those Phase to you

Jim Cassella

this Robin, hi, Jim. is so Yeah,

all are across areata have that we that salt commonality the scale. we're think looking alopecia is various companies at that using all I the this So,

think I lot And of fact. consistency. provides important a very a that's that think I So,

not companies believe and So, are certified other I in have what we doing. Raiders, could program unlike our trained

XX% dose and call And we others look baseline first the trial but done. and down then alopecia unlike at how a data, others what trial not trial, a from have our with our looked you the salt it ranging trial that comes Phase X [Indiscernible] from into coming responder, areata, to do at change as have

go XX-milligram dose get set. fact slice then to very the from the have your raw data, we other to significant and for we basic data allows ways And and to nice there up slight BID doses. very results SALT that related the you our the us responses there, have data Like data a in you have because in X-milligrams

So, which of who absolute at means XX, for that example, people score have we the number SALT coverage. they say look of an hair achieve XX% SALT can let's

are of when this those we see at dose responses. related of and we kinds kinds beautiful, So the kind look those data, same of things consistent,

on of So, no data we slice matter saw you the we look depending significant set, our how SALT data. the how differences at very looked at

start for or listings, I example, of the you think start the XX% just or at SALT when seeing lines in you looking XX%, loss, more are or something another clinicaltrial.gov hair scale. along way looking looking at, hair and companies a scores like at or one that absolute XX%, XX%, on

definitive I those come thinking we're think very things that we'll the about with that we talking going have that be we are and that kinds of trial So, whatever data confident in over with. have those final ranging as up the we our to with good FDA from we'll our that number that from feel will support endpoint. But I data the use we're primary

Robin Garner

if their to answer. conduct they're that And on Avanir XXX? Otsuka for from you activities continuing further question Thank there final just information clinical that my on any

Jim Cassella

provided not So, have updates. any they recent really

Robin Garner

much. Okay, answering And you thanks so for thank questions. my

Operator

this I would I'm time. no to back to questions conference further now showing this like turn at the Justine.

Justine Koenigsberg

you. everyone Thank Conference Please there. month call. next be I morning. and participating and This Wainwright note, the of concludes Healthcare many to like joining us today's Conference the Oppenheimer Thank this for April at you. would in you hope to see we'll thank London

Operator

a Thank participation. your concludes you today's have conference. gentlemen, And this and for wonderful day. Ladies

Concert Pharmaceuticals (CNCE) 27 Feb 202019 Q4 Earnings call transcript