ABUS - Earnings call transcript Q2 2021 | Arbutus Biopharma Corporation

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Operator

Good day, and thank you for standing by. Welcome to the Arbutus Biopharma Corporation 2021 Second Quarter Financial Results and Corporate Update Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. now Ms. hand would your conference I today, speaker Instructions] like the to to [Operator Murphy. Pam go Please ahead.

Pam Murphy

Good everyone. morning,

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

time-to-time. the actual combination our care with results contribute of that specific of from to recent reports number the and standard proprietary we and some on other are that materially, expectations today, forward-looking remind compound; Report the most upon timelines statements, Form begin, including drug the Bill? AB-XXX clinical subject the for and a Annual Quarterly results cause including our of our Report and filed potential improve future the HBV. Arbutus' to differ pipeline candidates to we'd potential regarding regimen those a call and These Before curative for runway made during pan-coronavirus and discovery to cash statements on uncertainties are in XX-Q described HBV forward-looking risks for SEC AB-XXX, you, to statements expected program, any may XX-K, and HBV like statements including for and

Bill Collier

far Thank XXXX. you, I'm so Arbutus Thank appreciate our and year interest our objectives rest pleased your good today. of and in the We for significant outline very to Biopharma. progress everybody. this on to you for report us morning joining Pam

towards of goal of is a to chronic drive mechanisms primarily a in our to on that patients cure functional of combination, with in which living action used focus We continue different portfolio HBV. developing when with for Arbutus products result

During accomplishing that this following. of established towards by goal half the a year, achieving the foundation strong first we

report in AB-XXX, declines with four HBV. breaker subjects to oral chronic data including the that hepatitis substantial compelling a continue with EASL We B at on presentation antigen surface abstracts showed in late

these drops we Importantly, XXX eight have for continues favorable compelling Notably, abstracts one of selected combination saw to From including antigen, these our is every HBV dose safety to best XXX EASL view subjects and year a for in in immunomodulatory in tolerability of derived with surface from all that weeks our XX providing therapy three immune evaluable response, trials significant specific and reporting mgs to of trials. appropriate in a data, an an up Xa Phase profile. conference. out agents. discuss of four clinical were supports I'll moment. dosing addition increased are support This And five just

second the half data XXXX XX mg a XX cohort DNA in for in on XX every week negative we forward, a subjects. of HBV DNA mg provide initial in cohort every and initial expect data HBV to subjects including Looking eight additional data positive week

therefore, complimentary with to of been with therapeutic the measurements. in potential And the future our we've has other that strategy enter has several collaborations clinical evaluate HBV XXX XXX combination in a potential believe mechanisms As action. agents be to in discussed we to past, combination cornerstone

nucleoside Assembly trial authorization And short Vaccitech. Antios application in analog XXX with Biosciences, pleased clinical to with our courses And so, progress announced FDA significant previously collaborations the the and IND to a also our of a towards I'm report proceed with for goal and from with Therapeutics peg-interferon. in this combination

with analog therapy nucleoside proprietary the Vaccitech's half interferon for Antios chronic subjects with immunotherapeutic, is initiate Vaccitech Antios evaluating the and HBV. Viread nucleotide ATI-XXXX, to proprietary ATI-XXXXX the clinical site active of a evaluate VTP-XXX, for of and evaluate trial and the a A XXX polymerase expected Antios' of collaboration which are collaboration will combination inhibitor XXX chronic XXX, subjects Now called The with triple of combination the triple standard-of-care with treatment second HBV. XXXX. in will treatment of

the trial with clinical We the to half to for CTA XXXX. and the in expect in second XXXX of Vaccitech's file clinical initiate trial the VTP-XXX expect early

gratified capsid chronic HBV inhibitors. on and that next volunteers also the is with for we've have AB-XXX, presented the potentially potential expected Initial capsid generation in made this proprietary healthy addition to us clinical efficacy the XXX with from patients the HBV. of with a treat EASL the generation own increased previous to trial conference, as data progress it an subjects of And our Xa/Xb to second an program Arbutus inhibitor. combination will oral important suggesting recent In data therapy initiation I'm Phase enhanced resistance relative allow substantial pre-clinical to AB-XXX half is with This profile year. on

PD-LX We progress we're lead inhibitor and for nomination make discovery of candidates to on our in continue programs, all RNA-destabilizer focused our generating oral programs.

treat small progress. COVID-XX continues identify internal research antiviral new future medicines to program and coronavirus outbreaks our addition, to In molecule to

over so, Dave turn the And for Dave? to I'll financial summary, call that now a update. with Hastings brief

Dave Hastings

Thanks Bill, good and everybody. morning

and runway. past, mentioned metric is financial key I As the in financial our have cash

XXst, Our of XXXX, $XXX.X cash, XXXX. million investments compared $XXX.X in as XXth, a was June of to a cash million equivalence as as December

of for operations from offset an Our $XX.X under proceeds was million net half at issuance shares first $XX.X common ATM Arbutus' of program. cash from million by use XXXX which the was

we to current to cash third cash expect of and our quarter to XXXX. range all our of XXXX, the therefore million is $XX operations For million from we through sufficient fund runway expect use $XX

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

Bill Collier

much, Dave. very Thanks

please. Q&A, lines up So for the operator, let's now turn

Operator

Arce the first [Operator comes question with Ed Your Wainwright. Instructions] line of from H.C.

Unidentified Analyst

questions Yip of couple Thomas everyone. Hi, for a asking This Ed. good morning is

new about Xa with the study XXX. Phase First,

Specifically week just to eight as XX those press really release wondering forward. you will dose regarding I'm that in selected you In mg the to every choice. the indicated a go this second additional expected only study doses improve there mg this stay they XX are half the dose a in is with the or dose possibility year. one or include there to

Bill Collier

Yes, good like Thank good morning. Gaston, take one? question. to you very would much, that you

Gaston Picchio

us. Hi, morning from Sure. good

includes of but we and will opportunity going the now now, single For include come the our we're of early to year, since now later trial is and to doses. an But right that reconsider XX preparation a we're dose. mg has decision there in this the been one made always are stages the dose the with data decision

Unidentified Analyst

mentioned for that sounds for volunteers also Okay, from good. Xa/b ongoing, year. the patients or half And XXX HBV then, this and will that's healthy second included both study data -- in be increase perhaps Phase they'll you

the Just readout we readout what and from wondering should on single does be data? safety what expect data this

Bill Collier

you want Gaston, Yes. to add to?

Gaston Picchio

Sure.

So, deliver availability as as we HBV data cohorts. from the coming to obviously as some data safety expect well. able the related the well data HBA We and currently DNA to also RNA be some may

mechanism. as much thing. Sorry, whether let add you as second potentially one more antigen, targeting as it's the pending me What XXX usual we will measure but know effective just

what antigen as front. measuring we that will in see well be and So, that happens

Unidentified Analyst

Alright.

releases? XXX So, perhaps daily some are comparable to area,

Gaston Picchio

correct. Yes,

Unidentified Analyst

from combination wondering expect not, have And mentioned you right, for I from us, you what the then, should question Assembly, if with XXX wonder next? just one have combo report recall involvement we the Yes, okay. And studies. the for progress this that's XXX you progress final if -- study year. study

Bill Collier

Gaston, Yes to want again?

Gaston Picchio

the in at year. So, regarding what it's there will rolling maturity, for study's study the this terms later make rolling But progress is before recruiting share the of data end we of a on pending limit speak. the been as as a we yet planned study, and can we the announcement

Unidentified Analyst

Okay.

the a So, the update we expect of should year? by new end

Bill Collier

dependent I COVID. the think how successful to There is the guess, around it's I terms world be in now moves forward. of going -- process right challenges enrolment on

enrollment it's the enrolling, opening in the these so far studies days so good, around of way any difficult the to line. are So, the predict study's but pace very

Dave Hastings

Yes.

just, haven’t that as our partners recruiting. study we the it's to in is that conjunction said collaboration, by on the have year. having end And initiated guided So at Assembly, results with of that has we Assembly the what

Unidentified Analyst

going Okay, world. completely around to what's look we releases and multiple Thank questions understandable the taking understood in given the forward this data on for year. you and half so the much second

Bill Collier

very much. Thank you,

Operator

next Your Skorney comes of with Brian question from Baird. the line

Unidentified Analyst

is Brian. on this Hi, Luke for

what you data? you of could combo regarding about going talk you're hoping But maybe also you peg-interferon see think kind biomarkers So, we to do you're also could when and early see, beyond here. study, initial safe, outlook

Bill Collier

second we will that on this said Well, that year. initiate half the of study, in we

Gaston let I'll design, As to the study that. answer

Gaston Picchio

for thanks question. Yes, the

is present after basically with there you nine. showing specific of reawakening seven data dosing around immunity of HBV as at EASL So, us the XX to we know weeks that

we provides So, opportunities to interferon. a agents add as such immunomodulatory such think as agents another this on great

expect So, addition probably we faster will see S-antigen. to we in expect see to line time interferon, the basically be of a this and the product

be and the stronger plan interferon, also cell to biomarker. we not such have responses know on of initial responses We presence T the depend should see to as in it obviously measure you we one. better T the -- it'd be in and it's that other will on broader. are in HBV potentially RNA cell Biomarkers on baseline, the the obviously level whether one, patients but Then a potentially better expect as

the that haven’t been ongoing increasing we it's possibility in anti-S-antibodies, and on hopefully so presence that's so far be feel may around of interferon, in another really the and which So, studies. seen to we

Unidentified Analyst

thanks. Great,

Bill Collier

Thank you, Luke.

Operator

the Your JMP question with Buchanan Roy of from next line comes Securities.

Roy Buchanan

for taking the great, thanks questions. Hi

that I a vaccine. approach about or just something option? first vaccine Vaccitech that again the therapeutic want why But like approach not and ask for Heplisav-B is as -- The use what to one therapeuting approved ease of potent possible made

Bill Collier

the in we've potential for many that combination of different arrows. Yes, always you that a we've had seems be has arrows specialist our like combinations -- deck all the like the years like of and up corporate thanks and Look, kind question. drugs for slide got to a there's down had strategy which a -- now the

we've recognize So, to that I that. apart also always are think vaccines in

Vaccitech expand further. And interested and let the Gaston I'll in we so, collaboration. intrigued were

Gaston Picchio

the for question. thanks Yes,

the So, it's along of think question. just previous in lines it's I discussing what the we've

the HBV-specific I the being first think have immune evidence ones we've as time So, able for to will responses. we that siRNA first you're we're believe and done I showing now reawaken

of So, immunomodulatory in I act opportunity would an enhancing to One to broad with HBV-specific think question immune response as other the with such excellent HBV-specific the interferon, be the be provides ways. vaccines. the this different

data very data really to have and immunology program the I this we think study with a Now specifically, Vaccitech. gathered justification we provides especially foundation so the AB-XXX the in good build

that response immune prophylactic HBV-specific stronger much HBV a provides vaccines. existing believe we platform Vaccitech's So,

I mean the better platform as I maybe prophylactic with what MVA should So, discuss the provides a well data much believe compared learnt, that in directly but opportunity their therapeutic their on vaccine this market. based we've to HBV vaccines them adeno think you responses HBV-specific we enhancing at with as

Roy Buchanan

a does to does Antios' on versus Okay, what's more the ATI-XXXX. a goal is combination? goal in had this differ great. new potent the new the And question And is How background of targeting in clinically or that tenofovir so the how replace which the with I that case. is background

Bill Collier

set you chime that? study as good Mike in on with Yes, Sofia, the do question. in Maybe nucleoside. It's to want up

Mike Sofia

Sure.

compared some clonidine Vivo trials So, at duration should, effect look I you the it action mechanism polymerase, of it longer was the studies. as a earlier it of does slightly also nucleoside, In whether what in a historic does chain interesting clinical although saw the which mean this to nucleoside terminator. they of very active a tenofovir has well you in It entecavir. profile Even typical to if site. not It's a different bind or target call

as a in way. does tenofovir differentiates that function entecavir doesn't or it So, some

deep something suppression can't it of with with to So, Antios sustained and single more then than experiment that like time interesting viral nucleoside nucleoside. in with molecule which observations is replication reduces agent do it that over of combination bring to see you XXX S-antigen, the another an an interesting a made very combine like

the the So, in mix. into that molecule interesting was an the rationale sort bringing for of level in Antios

Roy Buchanan

plus XXX, combo that Okay anything be the for preliminary XXX with then helpful, it couple baseline And With not on you maybe interferon. have needed or at the for some there, be number to slide program their Thanks. clear the if plus then, great, program. from you the interferon see rate They expect I'm that you're you doing that from the the decks might learnt interferon presented last just that and that looking to for differentiate questions And the interferon thanks. not interferon or what have -- results you that's other new is number guide. don't functional itself. don’t with can candidates differentiate. applied RNAi do combo interferon differently anything cure guys I

Bill Collier

take want to do you one? that Gaston,

Gaston Picchio

Sure. S, question. last let me start from the

in number functional expectation terms I position of expectation I our functional cure. are in what's provide a to think the So, of we cure don't of a mean

of we at the was So, adding itself. When the we what the just showed we that that study EASL and undertook beginning. for let they on the speak learn, to it this data well interferon actually part comes did data approach was

So, after from the get-go, they plus interferon. would RNAi

of if believe I correctly, So, in it remember S-antigen. resulted decay increase that was XX an the in I

with a as at EASL. that it's come drop that and and add better to bit little We that allow first the a to the the line believe result that have presented we a findings immunology of in interferon. different studies approach back have again response we immune we So, S-antigen of then

So, on that data the as I take I later word well. believe the it adding will mean only my again interferon for are don't be that seen be that They but believe later. they interferon will believe we testing I but adding based I've exploring I

of see you we're interferon see are XX study in as adding to So, you going be treatment. coped of right after the design after in may trials clinical can the now, XXX weeks

around gone X.X we S-antigen logs X down somewhere probably already So, would average entire have population. to on believe by the across that

did see that we expect to interferon. before to is because continue going we're what interferon, specific may said receive compared also S-antigen see So, will may measure We adding I some sort obviously that after as conversion, immune a reawakening the to better decay. subjects of that HBV not we

Roy Buchanan

you. Thank great. Okay,

Operator

Keay with next comes Chardan. question Your of line from Nakae the

Keay Nakae

Nakae Keay Hi, Chardan. from

your drop that the on back XX simply is to before is study, the duration a the advance time with there Just topic same threshold interferon just S-antigen patient adding or interferon you'll in week the in standpoint? it

Bill Collier

There achieved S-antigen least is log subjects majority have a more no a a the week log and by confident vast of very that at all for We're than drop. threshold. XX and half

of going log to there minimum be in to response but in to that meet threshold of S-antigen. no everyone decay they So, your question, need is confident excess is very one in

Keay Nakae

of how interferon? then, And Okay. long is the course

Bill Collier

Yes, great XX courses, testing weeks. weeks two as XX question. as well We're

Keay Nakae

Okay.

Bill Collier

Again, it go everyone the we details remind are clinical in yes trials, I'll for right now.

Keay Nakae

I Okay, alright have. great. That's all

Bill Collier

you, yes. Thank

Operator

to to no time. additional there like are back question. I'm -- Chikere it There questions a Kelechi this it's Jefferies. from over with management I'll And at sorry, turn is

Bill Collier

Kelechi.

Kelechi Chikere

here. hey, going? for is Yes fitting it me in how Thanks

clinical questions a your over read or of a the Just with or design quarters, datasets transform couple guess, are for competitor any any at on studies? end. the to there be information for on actuals I high coming the online looking provide specifically level, my through

Bill Collier

always mean the obviously any had just we peeled actually mean, eyes I EASL we I data conference for our interesting question. from good had Alright, source. and as

Kelechi Chikere

Uh-huh.

Bill Collier

as in the the my don’t any other here. than we think got that which half major year, Gaston particular companies about typical And event the brains you anything are obviously And you AASLD, Mike, doing all is second in I'm is would wracking of I like of what then, staying of just the I the know or -- that out single November. best think dataset, can area. the

Gaston? So,

Kelechi Chikere

Got it.

Gaston Picchio

I the think --. one

because that one AB-XXX. in expecting coming study. on some dosing these week showed we from of percentage with year -- pretty just year We were -- interesting it's their and to So, one much see are we of dosing

to be presented year ASLD will a that have that they interesting at be will in see this see. interesting well gets later if it to triple so data combinations, So, I as that would study as say is also also that

Kelechi Chikere

is color Yes when earlier Phase right, enter I additional able That's to guess guess your color might great you there. any can around great. thank to you I Great, respect programs, with clinic you. those. provide be And with the and lastly, there

destabilizer well PD-LX? as your as the So,

Bill Collier

that take you one? Mike want Yes, to

Mike Sofia

Yes.

the now we're close, very selection of process. kind stages we're our of So, in latter candidate

we'll So, the in expect and I we to able update think to be be clinic.

Bill Collier

Perfect, and thank you.

Operator

questions time. at additional this no are There

Bill Collier

very you interest appreciate and your your us thank questions, morning. much for Well, We actually. Alright. everyone joining this

to forward and productive So, continue the confident with to from we look your we trial. be XXXX further remainder data Phase Xa/Xb XXX

HBV antiviral as Our progression programs. Phase a XXX chronic to we're efforts clinical program. continued and of our cure trial our in forward discovery into data to foundation progress well XXX We'll in Xa two looking for discovery leveraging and functional of building pan-coronavirus additional course be and our proof-of-concept from HBV our Yes. a studies discovery people with research progressing as also strong on achieve

that for with our and operator So, your call this concludes that time morning. again you said, being thank

Operator

Ladies and gentlemen, today's may conclude you does this call, conference now disconnect.

Arbutus Biopharma (ABUS) 5 Aug 212021 Q2 Earnings call transcript