ABUS - Earnings call transcript Q1 2020 | Arbutus Biopharma Corporation

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Arbutus Biopharma Corporation First Quarter 2020 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 today, your now Murphy. Pam would hand to the speaker I ma'am. ahead, go Please

Pam Murphy

Thank morning and you, good everyone.

Dr. Scientific On the Officer; President Officer; Collier, team and are Sofia, call from Chief the and Arbutus Dr. Gaston Chief Development Chief Dave Hastings, Officer; Executive Picchio, Bill Mike Financial Chief Officer. Executive

objectives with Dr. a begin accomplishments, will by of recent any followed review Bill summary of Arbutus' corporate

the research Company's then Q&A. describe quarter the a the effort. COVID-XX Dave will Arbutus provide up Hastings who and Sofia review results, announced of first financial open I'll then will recently then for call

Before to proprietary to statements call recent of today reports begin, pipeline, Company's the report HBV differ that XX-Q clinical actual regarding and periodic filed cause you forward-looking our the the statements, are These forward-looking and SEC. that and from described including with runway. statements achievement the number those subject uncertainties expected cash of we and XX-K, other some of and we'd quarterly objectives may cash Report like use are on including in to risks results expectations, XXXX during Form a Arbutus's statements its the for made materially, timelines remind Annual most results

Bill? With that,

Bill Collier

employees and like on for morning of our scientific, us Thank all Also most joining and and in their keeping corporate you, you, that Pam, Thank I'm and operations timelines continued good working We many our today. I well of safe. everyone. are and staying hope you clinical applaud track. for effectiveness of are sure virtually you them

at single milligram development to second data move expected dose, multi-dose of in program we and disclosed, for with forward previously milligram continue our XXXX. we half are the with XX clinical XX AB-XXX As

the from the We quarter. dose sometime portion data of intend to share single XX-milligram additional cohort XX-week this also

describe the Sofia, a preclinical direction in detail effort. program the will just of Mike own COVID-XX in say few I'm research initiated And we've to our more Mike under proud moments. Additionally, that

mission forces find with of results joined into also The data, the is designed R&D meaningful the fastest consortium in into consortium. clinical for trials molecules manner the them this We've greatest possible. yield rationale most to advancement to with share the put and studies COVID-XX the

Now And all for in our is a a drug find exists of at and as underline I'm that and unchanged. focus crisis. given is where important and development we both we're our our COVID-XX discovery continue devote the be want that XXXX not initiatives. I proven remains this to mission to our That resources substantially for use cure guidance appropriate resources that this of and cash address expertise antiviral primary it's will changing to that hepatitis that Arbutus, confident result said, B directed, and global our to

reminder, as remains infected have very rates therapies just chronically in here significant States. B cure our year worldwide, And in increase need including X% the and could of a right the diagnosis XXX it's each Now fact, availability unmet in XXX,XXX low market people HBV substantially and regimen treatment opportunities. X in existing unlock the interferon around United people that a therapies. less medical million hepatitis with world million despite and and significant rates, nucleoside curative These and over vaccines, than die belief over

cure on and objectives for when different with of we that a developing So action HBV the following. could mechanisms result in products my a portfolio opening remain functional our to in of combination focused include conclude used comments,

that inhibitor research First, a inhibits destabilizer and specific through oral a AB-XXX next thirdly, lead RNA second, advancing Phase and our our our studies; AB-XXX; continuing HBV next-generation clinical Xa/Xb progressing trial for compound capsid efforts of oral PD-LX. IND-enabling generation

call the over So with turn that Mike to I'll Sofia. Dr. being said, now

Mike Sofia

Thanks, Bill the great beginning. effective therapies, and our morning, from of expertise of the everyone. and Coronavirus discovery antiviral pandemic members safe a and development of Arbutus team following deal good in and we've have Many developments actively the been

are well and role this antiviral important that there race done. many into to appropriate small have plan lead therapy coronaviruses. the have company is still a believe to solid for challenge, may play for new health and it of size needs developed that address a to molecule much a and companies a While we is We already early be both potentially our to one global

effort, a commitment. long-term internal is our this Regarding

address fit We our which targeting. other in viruses has such Collectively, clinic proteins as has successful been our therapies are include that of in polymerase not rather with for new nspXX proteases. to experience types that specific the team on viral expertise. working essential repurposed molecular the targets HBV these viral targets development are targets viral our and drugs, well the entities team These novel bringing and much of against viral the and discovery but HIV. These very targets HCV,

these deliver that been have As value and believe coronaviruses fruitful to is proven other approach we for take well. with targets as viruses, to for potentially clinical patients a shown this

You're overnight, have likely to said, a this IND-enabling The doesn't process hard to to commitment. as into a ask discovery a and studies, how or and answer. compounds take question is happen long-term lead soon compound that's could we I

a future used disease, reduces a goals drug can barrier we with and need to for severe has effectively agent that will [Technical high especially population pan-Coronavirus resistance are new diagnosed patient load, In who ideally viral patients as terms works against a in outbreaks. we it in work that be our believe a broad of that Difficulty] rapidly so

of with broad also resistance. best different patients for the with is outcome of agents combination action patient likely across to hard hitting mechanisms also It the virus the limits provide a I population. believe

developing therapies. existing agents, in in We agents, resistance could be will which on be initially be focused developing combination focused used new we be initially on which -- single other will could single with used or

this a unprecedented patients. this scientifically response in an situation, identify something such investigating tremendous ways and been has to virus. the there to In arms [ph] all are that gratified worth sound that help are we to can Corona Additionally, ideas effort control finding

be learn This all able R&D the will why educated what more choices on field we work consortium. make COVID-XX is the more, As joined we on. have to to

It's R&D a singular among leaders, has collaboration highly and biotech pharmaceutical several goal. a organized company focused top

First, inhibit push this other novel processes therapies agents, forward identify and and vaccines possible. coronaviruses. Arbutus discovery pooling be Through as collaboration, COVID-X resources stage COVID-XX against and and to and as targets but SARS effectively will streamlining early quickly

be identified efforts. screening in unique We screening that and our are active library for molecules will further the contributing any chemical progressing then

and primary advance optimization both lead unique through clinical unknown novel consortium, development to believe in development drug from capabilities discovery therapies our development. Through is focused Coronavirus and rapidly position puts and Arbutus the against screen leveraging candidates we new will identify as discovery that and antiviral certain potentially known capabilities us to We capability expertise in positioned be targets. a

secondly updated to be of coronaviruses. PD-LX I our HBV AB-XXX, the with and including own may to you HBV keeping progress; compounds believe our patient's on look compound work capsid on our forward in next our and our in HBV generation inhibitor own that all -- response next-generation specific useful portfolio an immune virus oral reawakening we destabilizer first, with RNA

Dave. over turn will the to call I that, With

Dave Hastings

good Mike, Thanks, morning, everybody. and

March cash, December of $XX XX, million XXXX as cash investments to and was as Our compared ending approximately short-term equivalents approximately XX, XXXX. $XX of million

first XXXX for quarter approximately use Our the cash operations of $XX from was million.

In approximately issuance the in $XX net addition, quarter the ATM proceeds our we under million for of received first from program XXXX. shares of

fund $XX into million operations million to we cash to range use still and runway expect our expect $XX we from XXXX, For sufficient cash our to current is therefore, mid-XXXX.

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

Bill Collier

you question please and up And that, operator answers. very lines for and Mike to Thank with Dave much, could the Joelle, you open Sofia.

Operator

Instructions] Thank Mamtani Mayank you. from Our first [Operator B. FBR. Riley, with comes question

line now Your is open.

Mayank Mamtani

therapeutics. Thanks Good morning. taking the for appreciate efforts I questions, and my Coronavirus team on

update first the with question this had think on on you're you on maybe Could please? I comment the talk Just which [indiscernible] think duration, sort not to peers, the how other went longer-term also -- about up. but this that comment you how maybe seen obviously that -- [ph] of so having you've just about could XXX-mg, you

Bill Collier

and to over let Mayank, comment it's first hand Yes, I'll Bill, me it then Gaston. a make

up, quarter. are So have press news still particular we think, moving press multiple no is and XX for and said we what now Obviously, already picked our data on this sure what XX in on as new on awaiting the XX-week dose, last release forward single this there the is XXX. you've available dose. But dose release the XX the I XX-milligram is single I'm was March

But So, XX-milligram in that's having a slight dose single Gaston. for hand timeline said the over XX-week the follow-up. that, let me change to

Gaston Picchio

and questions additional date, question it's speculate. help that without Did morning. difficult do any good because you maybe... hi, think I you or XX-week the further have answer But that mean follow-up I to Yes, --

Mayank Mamtani

-- deepening you I XXX-mg, I saw with even was just think with curious some of single the dose. responses, the

I XX-mg, curious -- the experience with you seen that -- really how multi-dose the to we that think was with the other So comes think should about [ph]? we've what just same or expect compound the

Gaston Picchio

XXX-milligram Yes, well, think expectations said I of XXth, dose. continuous and beat data we in of as our think we back terms decline I durability -- on that the March I the mean

I that's end continuing with XXX-mg. XX, need we think that do we to data the we decline and to we're forth. that the where same subjects. we with of saw so follow have the type to And So didn't XX XX-mg, day obviously, day see But why conclude,

we to in pointed quarter that out, as So Bill data second going the that's be announcing available XXXX. are now,

pieces we So, did by we an I add from data XX-mg with striking the was the before the of XX-mg at extremely other one from -- of safe see to information way, ALT/AST about actually what which XX, I that would level. the rather derived conclude anything the wait that we beyond already

So of all the throughout you normal XX the recall, were follow-up. levels as may days

XX-week So, what happens soon very see with the follow-up. we'll

Mayank Mamtani

appreciate Great. and timing on expect. what the I clarification to

any XX -- front update on either helpful. on for mg, or provide mg color XX would you be multi-dose the qualitative Just just the the could enrollment

Bill Collier

Yes, again. Mayank it's Bill

we're As progress the carefully we settled thoughtfully. COVID and back given in situation, to March, trying

but that trials we So or we our what half yet, protection sticking trying is comment all where that view, guess point disclosed of have site are second screening conduct to a of patient and work I in available a projections the underway. We patient to these looking the selection locations can the at -- from we'll actually safely we is data screening whether whatever haven't patient we we where and can find year. dosed --

Mayank Mamtani

virus And Coronavirus I learning just maybe and you Mike, know sort talk I may have -- on efforts, have cells. you you are just targets? -- the any proliferates -- the and did you to of switching maybe missed could ton you I great. disclose about -- antivirals the gears Okay, said how a obviously enters

what that? maybe -- Just and approaches you is prioritizing for say, talk comment could scientific incremental could to example, on you're to, if you how remdesivir, that

Bill Collier

Sure.

key So are far so other RNA too and conserved a direct-acting RNA be protease positive and there lifecycle sense like the viruses virus we viral because virus COVID viral -- HCV. we're and main similarities as to have here, coronaviruses. specifically protease nspXX chose viral targets the to virals appear in protease across is the with interested of proteins polymerase as polymerase highly and These involved virus' seen in

So agents HCV or our reverse been have or only or or been HIV or you of therapeutic at as proteases target transferred protease, be from used bases, in to clinical at preliminaries HIV have come nucleosides important targeting several of components or therapy to where look backbones have and regimens. nucleotides viral can as shown of also where far HBV HCV, that polymerase our

provide benefit. Remdesivir does nspXX some perfect to drug. not the target the and It's appears polymerase

a So going is of we're lot identifying by much a that room agent to for focused using approach there a better use.

Mayank Mamtani

helpful, Thanks clarification. very the thanks. That's for Great.

Operator

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

is now open. line Your

Unidentified Analyst

Jennifer just Thanks. further this [indiscernible]? is for Thanks [ph] questions. the to runway include or for if clinical Hi, curious you taking guys trials cash specified I'm as on Madhu. our that

Bill Collier

you on the up could just question, repeat you of sorry, that? part Yes, last your broke

Unidentified Analyst

absolutely. Yes,

that runway starting cash for the guys clinical provided if includes AB-XXX? wondering you was I So trials

Dave Hastings

Xa/Xb Dave. if because capsid. about Phase does, that mid-XXXX, Yes, it our runway cash we with assume Yes, think is a the would into that this would hi, you start

Unidentified Analyst

competitor's you therapy? any Okay, great. discontinued the well, quite you need same -- then them Thanks. also plans and response? assess inhibitor in have that of as to been need core on before terms to would to how you -- that so co-inhibitors treatments go long go the do XXX And how virological you stopping have do would thoughts And maybe imagine

Bill Collier

and part that hand I'll one Mike for maybe the So maybe, Gaston, of talk first then can length first about to you therapy.

Mike Sofia

we XXX shown preclinical issue quite with we elevations had have discontinued and studies, look, an the in Not study. what in healthy preclinical saw time of preclinical clear That we safe that we and competitor extended So series to studies X-month very ALT volunteer differentiating in we an particular because be is was studies. at saw issue chemical was toxicology discontinuation, really molecule the compounds Unfortunately, LX basis a XXX X-month with molecule. profile a point safety with and for that signal in but different -- clinical patients, completely this profile. signal clean

overall. that resistance is profile profile as as the well going for that potent molecules much we're So provide looking against enhanced we're very to clinically, confident more a molecule that, including

Bill Collier

at length feel about start one Gaston, Thanks, on just guess to therapy? capsid we Mike. actually can of we there I look stopping when [ph] confident study therapy, And need

Gaston Picchio

for thanks so question. the Yes,

clarification mean specifically is a do general will clarify capsid our or around our the so this with capsid So thinking of that? mean maybe therapy of you programs the inhibitors, -- a if inhibitor, duration therapy could question duration you what for you about with is what be

Unidentified Analyst

more say, Thanks. question, a about would general of [ph]. I phase Sure.

Gaston Picchio

Yes.

a obviously. and that's question, So important think very I relevant

will it many on depend factors. think I

I it's is, ways. duration. you about so think different what's at we depending what regimen like can then have think is, it, way the I the two regimen, to look the in expectations on One the different

and nuc think And you secondly, to capsid, than the where -- For a if capsid with think example, nuc what's a look would with [ph] you -- a if and is need area where the RNAi. and I endpoint. other longer and treat maybe look we we you area, treat about the

a of is endpoints. So as there around know, lot discussion you

undetectable example, where therapy without which For six of point, it is as the surface antigen endpoint months or end cure your could with defined functional unquantifiable at most be relevant MYS this [ph]. after if or probably

challenging to attain. think endpoint I that's kind the of most

thinking is -- a we and think year -- I two therapy. between years of everyone around somewhere

If one at. people are RNA, as endpoint undetectable sufficient. Perhaps thinks be such that of our would endpoint software another that's shorter therapy looking

Whether what's bit -- it's think I what's early little looking it relevantly I translate regimen So to in down a is that and for. undetectable you relevant endpoint are the clinically your the that of say. think depends into RNA road short, will endpoint cure, a functional

the --- are functional still agency the we endpoint to So, sticking of defined by cure.

Unidentified Analyst

much. Great, thank you so

Operator

closing time. [Operator to you. any I now not the questions Thank showing further to I'm would turn at back like this Instructions] call remarks. over Bill Collier for

Bill Collier

Thank for much questions. very you and you your thank

just your on our out gratitude close you track. thanking also again my timelines me Arbutus. their employees all Let operations continued to in our to corporate for like and repeat in by keeping effectiveness interest for I'd And

as as we So for single the data dose share in multi-dose this of of again, the for as cohort And AB-XXX on to the XX-milligram summarized we from half second sometime XX-milligram that's well also, XXXX. XX-milligram this QX. intend cohort from single-dose data XX-week expect additional the continue data call, portion to quarter, the

for Thank that our again thanks today. you. concludes in. And for So, call dialing

Operator

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

You may now disconnect.

Arbutus Biopharma (ABUS) 11 May 202020 Q1 Earnings call transcript