ABUS - Earnings call transcript Q4 2019 | Arbutus Biopharma Corporation

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Arbutus Biopharma Corporation Fourth Quarter and Year-End 2019 Financial Results and Corporate Update Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

to conference like speaker, to now Ms. would hand over the your I Murphy. Pam Please go ahead.

Pam Murphy

morning. Good

up Dr. company's from begin call Collier, results. Officer; Financial Scientific clinical Officer; Chief who'll the Arbutus Mike Sofia, will Mike provide of clinical review open the President Executive Chief Hastings, Chief Officer; We'll of and Chief Q&A. Dr. Hastings, followed Bill financial a development-related On Dave year-end Dave fourth the call a by development, and and Bill and objectives will executives Officer. Picchio, be Development and with Gaston team address quarter are: for available questions. the then research, summary Gaston to and corporate

of forward-looking during call for and HBV and Before we begin, AB-XXX including we'd statements, pipeline, results AB-XXX, like for some statements today including this the to Arbutus' are timelines regarding and that remind expectations statements clinical proprietary compounds. potential made future you

uncertainties objectives, used XXXX of the materially, expected SEC. cash that XX-K, our with candidates to risks our of to a on and cause Form differ Report improve statements upon subject for Quarterly These are runway our number and for forward-looking a and drug contribute HBV. recent our and Annual results care periodic combination other including filed reports standard potential actual to in described on those may most regimen Report to Our XX-Q, the curative and cash

Bill?

Bill Collier

on in Biopharma. today. really interest We you Arbutus Thanks, us Pam, appreciate and the line everyone joining for thank your

you. busy really We of many is also know a this for that time

and to succinct. going keep pretty we're this focused So call

the million X%. people cure Also, have and less medical worldwide than over reminding that Hepatitis remains I B do and each in of worth two States, worldwide, XXX,XXX over a it's XXX rates, significant antivirals infected that very the despite need, unmet ourselves antivirals. low chronically availability here over including United however, year remembering die million worth believe with people vaccines existing it's

B Hepatitis opportunities. regimen and diagnosis unlock and So, rates, it's market growth treatment substantially increase curative would belief actually that rates, our significant

focus combination At a in that in result products exclusively cure. a on Arbutus, action with is when functional goal mechanisms different of could used of our portfolio to developing

We team have a talented XXXX on our and completing our Phase the goal Xa, evidenced RNAi which delivered by of proprietary Xb following: trial focused this include clinical experienced the as objectives, GalNAc Firstly, AB-XXX, compound.

oral capsid thirdly, destabilizer, next-generation our progressing inhibitor RNA research studies, a our efforts and Secondly, a IND-enabling compound advancing lead for HBV-specific inhibits through that PDL-X. and next-generation oral AB-XXX

each So, you. let of me briefly summarize for these programs

covalently Reducing RNA that of antigen a surface preclinical models, to to to AB-XXX; GalNAc including First reduces enables hepatocytes B XXX targeted all replication technology S an key using thought and a HBV the be all, to XXX subcutaneous delivery. antigens, novel to conjugated therapeutic antigen. enable viral is In prerequisite immune interference inhibits reawakening respond virus. system of hepatitis is patient's delivery

in for clinical and single healthy expected with data to this Preliminary pharmacokinetics, data in month. B hepatitis and B. the cohorts volunteers, determine currently cohorts tolerability, conducting and safety pharmacodynamics multiple-dose single-dose of efficacy we're in volunteers, a healthy chronic later safety, trial are and subjects single-dose Xa/Xb Now, with of and subjects Phase in AB-XXX safety hepatitis

second-half of and XXXX. data are multi-dose expected preliminary single-dose Additionally, data the in

DNA. not primarily the capsids. for preventing of protein the oral reducing viral the covalently-closed formation been the viral cycle, capsid completely. reservoir functional nucleus. uncoating replication, of Capsid HBV current XXX the by reducing resides cell They capsid circular assembly HBV into me replication. for have viral life required core work viral in assembles therapy which inhibitors structure, step analogues HBV, inhibit inhibitor. to thus turn inhibiting virus which the standard-of-care inhibit significantly also viral shown is That's of an Let by nucleoside the AB-XXX. viral The a is new replication but to polymerase,

compounds Now, potential capsid by XXX in profile We space. previously the chemical anticipate believe from XXXX. AB-XXX, novel other we to discontinued an of a oral our XXX, capsid end inhibitor the inhibitor. and this XXX series competitor differentiated enhanced IND-enabling compared inhibitor increased XXX capsid and in next-generation studies is also as year, January we potency candidate, the has for resistance and completing from our selected

the to on for including HBV XXX, our few chemical continuing our Now, early we RNA R&D current compelling a preclinical shown recently focused models. HBV-specific we our advancing RNA as in antiviral comments scaffolds have from stopped RNA oral with know, however, multiple of a follow-on on now is pipeline, next-generation efforts effects HBV development XXX destabilizer Arbutus oral destabilizers through discovering you on our Programs, optimization. that destabilizer for focus are lead of compounds development distinct destabilizer

potentially optimization of by immune patient's are have also lead capable in response reawakening PD-LX. compounds We HBV-specific inhibiting that

now I'll Dave our over our recent results. summary for his financial most call of Hastings, the turn to CFO

Dave Hastings

everybody. be disclosed metrics January of early financial morning Thanks, in this year. good this morning key Bill, brief our I'll and previously as we've

[R&D] [Ph] cash approximately of was as XX, December XXXX. million and $XX

our of of a million. $XX was payment Our million, University for fact to from XXXX This and cash $X.X cash million $XX former CEO. the despite $XX our to million arbitration used used British for the payment included that Columbia, guidance severance the of $X.X with a on lower-end operations in our which was of XXXX the million

of the sales proceeds net net a use $XX.X a on $XX.X XXXX our under of net program. in ATM Our entitlement royalty and of million shares was from issuance the on of ONPATTRO, partially by from offset portion cash million in sale proceeds

programs in million have we $XX.X notably, year. Now of additional quarter this first net our ATM from of the proceeds so far

the we cash from million, expect operations XXXX, is to expect fund that range therefore mid-XXXX. For runway we our million our to and $XX $XX used cash sufficient in

back turn Bill. call the I'll that, to with you, So

Bill Collier

lines Sherry, up session. Thanks could question-and-answer a very now and Operator, Dave, much, perhaps for the open we

Operator

Our Mayank from first from Instructions] Mamtani question Riley. B. comes [Operator

Mayank Mamtani

you my questions wishes best taking Thank for XXXX a my busy for and for you.

we're -- you baseline I comment maybe are they of know have a starting are talking treatment-naïve, then on follow-up. with they characteristics the single-dose could maybe, it's So, AB-XXX, I And newly-experienced? these on comment patients, but you could about, maybe

Bill Collier

would perhaps answer like Gaston that question. Okay. to

Gaston Picchi

Hi, Sure. good morning.

So, the patients that Phase the our Xa/Xb are we chronic characteristics. have enrolling no who are study have B AB-XXX They in subjects, cirrhosis. following hepatitis

we're up Scores including positive the in are therapy to dosing a who least and first undetectable are we and They mixture negative, before including ALT antigen we're on upper start METAVIR than we allowing stable of HBV nucleoside subjects So, a the normal. less antigen have There both cohorts AB-XXX. only levels limit we're the FX. times five -- for with at DNA to testing, months FX with that is six

Bill Collier

good. Very the And follow-up, Mayank?

Mayank Mamtani

enroll [Ph] Yes, and that? section, in be which the to how [MAD] does plan would follow-up inform you in the patients this to

Bill Collier

so select. that we're as that is in dose and inform of of Well, as efficacy single will single our frequency we safety on the multi-dosing, the now next well what doing basically steps dosing based will forward doses move right of we doses, and in the terms will what

Mayank Mamtani

to identify able timeline to experiencing for you then were bit after could year? last talk oral maybe on this what to and so you a you will like a this a was follow-on identify why seems the And quick move to pretty in -- it Okay. the setback quickly capsid, little order for happen of

Mike Sofia

the doing Mike Well, the in parallel in Sure. work strategy is continue always we're with we has Sofia. This develop that that to clinic. Hi. our been follow-on agents

So, so, we introduce the idea or here AB-XXX innovate quickly is to in, pretty our compound the in then and the and with stoppage. capsid program, that five along to in space able were related to six very nominate particular molecules that post were such focused XXX programs, continue already we're preclinical that that far

Mayank Mamtani

the the you -- and cure know, last as your different this? question, to landscape drugs an classes combination could help of are I a could from that standpoint, was are about inform towards there development Okay. be that you talked what what these functional end what the external like guess in at goal other that looking

Mike Sofia

Well, functional defined actually Mike things is that to level you our to to I that bar this as and couple EASL need need by mean is undetectable. AASLD and and a to you a look, replication HPV and always again, been stop guidelines, position DNA achieve cure has -- do reduce

address a to the it's think we S-antigen have question, role critical immune believe response You playing host and I this is has. since that virus the S-antigen control that in well-established

critical host drop broad-based drop, with more a immunomodulatory believe agent now And levels the to broad-based ultimately the to we to then you that S-antigen So, immune S-antigen system an cure. coupling maybe in re-engage. ultimately enable to achieving to of therapy, addition make need

and believe, strategy, the we is continue space that be our and in developed are So, that things that those the HBV around built think data portfolio that. I supports to

Mayank Mamtani

my forward look question, to Great, this data thanks and for the month. taking later

Mike Sofia

Thank much. you so

Operator

Thank you.

next Keay with comes Our question Chardan. from Nakae

Keay Nakae

Yes, what of XXX, most like? data perhaps test as informative you data what investors Question you the thank for to for might your try being would Mike, single preclinical you. to as point look handicap

Mike Sofia

a the study, AED if Well, drop model. you that in-vivo get it's HPV nice that One, what the deep In in studies you single-dose are that I levels, did in we S-antigen you post see think things. and several a and mouse the persistent go of agent. look dose-dependent at

preclinical data once-monthly a if holds longer clinic. dosing least the at like looks into it fact potentially in So,

also you can drop get a see four add fact, additive still levels. S-antigen you a and You dosing, repeat every that, HPV in precipitous weeks, so in

sort competitive believe agents in out other clinic, the ability very So, of to that there, way. all with we're sustained projects S-antigen we drop where to the have going and a this be into that are

Keay Nakae

posted Bill, that their their competitors, [Ph] couple is looking I great. had [Ph], what stated landscape for forward? that the for one your hepatitis RNAi multiple view on B a your Roche [suitors] [Dicerna] there at with Okay, has of of And of collaboration that going has said mean, they asset, occasions

Bill Collier

question. good Yes,

know, mean, and medicines, I of here you underline with think a mechanisms the we've our action. that of of to I So, develop is portfolio Arbutus, points is described, different as ambition aim one our and to

So, intent move to is an own. through us on these molecules yes, for there our

we've potential we're to not organizations. institutions partnerships, said also talk we ignoring yes, that and other However, and do

don't rule that we out. So,

good it's going shareholders. patients general good if assist is to be our for our policy and development that for of molecules is to speed going think help the view I and

that's general So approach. our

Dave, else do anything that? add to you want to

Dave Hastings

discussions, to approach mean, we're portfolio, we of strength, position, say have obviously, I want just we're well-capitalized that in I think interesting would position I a yes. any No, would an collaboration, from we and

Keay Nakae

Thank I have. all That's you. Okay.

Operator

comes Thank you. [Operator Instructions] from Our Baird. with next Madhu Kumar question

Madhu Kumar

Hi, our for guys. questions. Thanks taking

for enthusiastic have the this month, that the would way surface later this data out yes, about feel make guess RNAi I you feel is for thinking first really is antigen we what coming on quite the you So the one XXX [indiscernible] [indiscernible]? single-dose this effect for and XXX, positive drug, would

Bill Collier

I guess Okay. so.

me day is XX the at mean looking the So, from X.X their in with for from we but to let a out or is no establishing logs drops to a X.X to appears I'm program, assessment look that's it Arrowhead/Janssen of if is is as day this there around because be XX, refer surface appears compare data baseline. XXX provided terms just that no just that to to directly the out data you the well visual, there and as data point drop there. single-dose visual around success going antigen program come were to, Unfortunately, what week-four, can -- data formal the it around data,

a we above reference, anything would think considered ballpark that in or as that that successful. taking So, be

Madhu Kumar

programs, development for great. a destabilizer stage drugs, earlier that question And stepping into make a back oral I both hepatitis you the point PDL-X it then, gives developing inhibitor. RNA of B a mean, and natural Okay, or you're thought if RNAi factors target transcripts, the developing to compound affect RNA HPV viral stability for that you the hepatitis of PDL-X? an have an could B both RNAi host emerges, drug about

Bill Collier

RNAi viral protein, very of on a an Well, a to advantages oral target strategy. host that that for viral factor, direct over factor of know, you're have for period you you you It's be here has doesn't thought a host. that the strategy some RNAi about Particularly knocked that we impact believe that. strategy, if unlike We production the time. the going knocking down is yes, down, have in a extended which

be with have we events associated relationship are with we doing, example, area. compatible to agent issues that for that, interested that that potential, feel what let's PK/PD with may control able in PDL-X, do say, that PD-X being arise, know because we is oral safety PDL-X don't So, antibody-based in HPV and will any circumvent the you very in an agents some helps adverse do therapeutic

So, molecule with us any to with effects. in issues may provides to think ability we that the the non-desirable small arise modulate regard regard, that

Madhu Kumar

a great, right, I thanks. time. be we'll guess, And few All chatting in weeks

Bill Collier

you. Thank

Operator

you. call back in the Thank I'm any no further this over the management to showing time. queue turn for would further remarks. now Speakers, I questions at like to

Bill Collier

Okay, much. join EASL our seeing you dialing us, study We forward Thank Phase very much this perhaps, some the could of really of X London in thank you this very you you look in we appreciate later updating to also to that well, for from as month. in AB-XXX and we and report you preliminary results morning.

Operator

participation. Ladies today's and gentlemen, this for your concludes call. Thank you conference

disconnect. You may now

Arbutus Biopharma (ABUS) 5 Mar 202019 Q4 Earnings call transcript