- Earnings call transcript Q3 2022

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Operator

Good day. And thank you for standing by, and welcome to Arbutus Biopharma Corporation's 2022 Third Quarter Financial Results and Corporate Update Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. to Caperelli, conference Relations. Vice like speaker to now Lisa today, President would hand over the your I of Investor

may begin. You

Lisa Caperelli

Arbutus' Thanks, you results everyone, morning, corporate third joining and Justin. financial quarter call. and update XXXX Good for thank

a the provide the Hastings, Scientific with address XXXX me Mike will David and are of Q&A. Bill Executive Financial who Dr. Development the opening Officer. Officer; Officer; quarter begin Dave, by Dr. Mike executive available clinical Collier, Joining followed Arbutus corporate team Chief and Bill President and third will review a financial questions. research-related remarks, company's update, to Gaston from Chief and be will Chief we Sofia, call After development results. today Chief will open Officer; Gaston Picchio, for

With Before may call our our number to I'd made subject the be Collier. you described to quarterly call of I'll which those on including filed some risks XX-K, report annual are other of time the to on like and to during that cause are the forward-looking actual that statements, results statements the Bill today time report differ materially, a XX-Q we documents begin, remind with SEC. recent and turn in later Form to over today, filed to most from that, Bill? in uncertainties

Bill Collier

for everyone of really We today. thank do continued us and Biopharma. Arbutus support joining interest your you, and you Thank appreciate

Congress, clinical COVID-XX last future the virus, a corporate in hosted progress issued functional made press this week, programs on our press data corona at they webcast also release, Monday. Now, was highlights asset, and we our and Medical lead review issued highlights a to the year. as presented to remainder virus milestones And poster and quarter programs our as our results morning encouraging the like to this we significant morning, mission updates AASLD in preclinical on to the key clinical advancing for update our the a this a cure data financial few our Late AASLD third release, focusing relate of develop I'd hepatitis which of with XXXX a for off-treatment and and AB-XXX. of have data This we outbreaks. B and on treat provide support some plan

and components capable showing by that that data So, XXX AB-XXX for all controlling that in in regimen antigen, the immunologically additional critical all, At of is HBV the AASLD, cure. revealed for advanced of therapeutic is treatment cornerstone following. believe can most first we hitting surface suppressing RNAi and one HBV, of three consider the continue of we the to supports this be to development, therapeutic XXX AB-XXX reducing a DNA, HBV. believe that achieving we functional claim

pre-study levels, First, nine were therapy. were while a nine plus with well suppressed. nuke, HBV and therapy for to biomarkers of all and antigen treated But chronic below XXX year, HBV remained off surface to remained out stop patients with HBV eligible their all that one DNA control their able were

therapy, antigen patients This were there HBV-specific replication but bursts Second, none some of criteria of shown control and surface without level of therapy. reawakening had none through baseline of nine to below And not levels restart these viral also the clinical immunity. treatment. nuke third, met maintaining by only restarting of protocol-defined relapse, was without

seen of to the extremely impressed for the So, field first the off treatment. disease therapeutic has RNAi And medical control we're HBV an data. ability biomarkers this by time, while

we six and we months antigen been has do that that data consists undetectable for of for surface ultimately DNA the met, this a believe there. get not suggests criteria which While therapy functional after cure, HBV yet can

and study HBV-specific preclinical using our inhibitor supports a cell development to and from treatment reinvigorate of data of of HBV. presented provide the this strategy that an an confirmed functional further our to a pursuit towards agent in activity XXX AB-XXX, our anticipate We oral with on and XXX small-molecule the combination that PD-LX remainder the RNAi and also cure immune key in potentially update ability and milestones engagement year, T mouse this HBV of liver we AB-XXX, HBV-targeting in enhancement assessed now pleased progress that we combination in like our monotherapy I'd achievement. of for to Now, with switch HBV were model. an

our nuke HBV patients. from plus for preliminary The XXX XX of a determine that if XXX for patients interferon a to interferon then or data AB-XXX. either this any, interferon receive XX trial, goal nuke in evaluating in trial addition plus is anticipate plus to provides additive, are benefit trial the this weeks. XX combination interferon we to and with Now, receive weeks, In Phase IIa randomized clinical chronic reporting to in AB-XXX

HBV inhibitor our are year-end, inhibitor PD-LX compound, coronavirus destabilizer, this which on program. to candidate expect we to AB-XXX, nominate in studies nspX our track RNA inhibits Our oral year, SARS-CoV-X AB-XXX, preclinical or and are complete also and By assets, the a Mpro. IND-enabling our oral main clinical that protease both in

updates and quite to coronavirus brief to assets, year a for So, over progress will as Hastings now forward update. the I'll we the these busy continue us look the our turn I rest providing financial milestones. as HBV call Dave the achieve for of and we be

David Hastings

everybody. morning, good and Bill, Thanks,

As key are metrics I've mentioned financial and financial our past, runway. in cash the

to XXXX, XXXX. as of December of equivalents cash, XX, XX, as $XXX.X as cash Our and approximately investments million were compared approximately $XXX million September

payment AB-XXX offset cash operations. inflows approximately gross XXXX, company, a transfer equity the of proceeds These in $X.X Pharmaceutical partially by Arbutus' and technology net million program. company Qilu's $XX Now, from from of Qilu were issuance to of under the related common million approximately for million China, offering the a proceeds received investment XX, Company in $XX September of $XX.X shares from license ended "At-the-Market" cash Greater used million and agreement nine-months during upfront in

$XX million million believe XXXX, not sufficient be Now, will in cash [burn including operations of] expects proceeds our company runway we $XX to quarter between the second from XXXX. of net into the million And a received fund [Ph] of Qilu. cash the to $XX

to Additionally, see who $XX.X that we OMERS, were earned now sold royalty we in pleased our primary royalties. to, ONPATTRO in cumulative has interest million

our than once back annual for reminder, a revert $XX $XXX royalties as net rate that ONPATTRO higher be ONPATTRO sales royalty that million will greater Now, X%. OMERS us. million in collects to reversion, slightly After than entitlement will

cure and a well-positioned potential our HBV, coronavirus treatment advance are back turn we to a COVID-XX, outbreaks. and mission call for closing, in Bill. So, financially functional that, future to I'll to With develop for the

Bill Collier

very Thanks much, Dave.

now for Q&A So, we Justin, session? up the open operator, our the lines can

Operator

Thank you. Dennis from [Operator our Jefferies. question And Ding from first Instructions] comes

Your line open. is now

Dennis Ding

Hi, good morning. me. Thanks for taking questions, two my for

reading next be? provide guys And for dates that what you comment incrementally fourth litigation, do factual study B, and Phase you looking then, what the of secondly XXX on you terms for how here, that the hope can steps in more information Thank to that's out on I'm these First just with updates? the can are are quarter better will peginterferon, do can provide. what you much study you. in on patent adding just II hep the you key expect show next

Bill Collier

This Dennis. Bill. is you, Thank

comments I I'd think from first At study, were I and Vir make interferon of say, from AASLD, your mean data study some J&J. around data question on here. what I couple with with So, a would the their interferon there interesting some, mixed

that our by own far that as we've And context as our of there. to year. is study now being awaiting as eagerly study results results, to expect the But end and out fully indicated, there's study we the initial close some So, we're concerned, is have enrolled. own

litigation, were now the second And or district comment see those pleased now I readings. court be we'll honest, can't Moderna's so, December, some But And and the between to we're partial to dates moving be to our infringement around specific I motion with you on to with dismiss. lawsuit. question mean, obviously, activities. patent forward we deny back your of really initial On end of the

We will process path. legal the let its follow

Lisa Caperelli

Operator, we next to question. move can the

Operator

And thank from next you. Roy [Operator Buchanan comes And our question Instructions] from JMP.

now is open. line Your

Roy Buchanan

I for taking actually questions. of a couple Hi. B non-hepatitis had ones. the Thanks

days anything are you then, as expect as treatments the far to treatment us combination COVID reasons? do tell can require peptide other details but you eventually landscape, provide? your still warheads? And a if or can covalent market Mpro they early due Thanks. Like Now Any about you to resistance candidates? mimetics,

Mike Sofia

Sofia. Mike it's Roy; Hi, Sure.

market resistance the progressed in can that clearly these on Mpro yes, lab we either the see sort that or have of have some against in been candidates you seen So, forward literature. the of

is that expect a possibility. would with inhibitor, one as So, a significant protease

that. to of symptomatology single we resistance you that important aspect to polymerase going but therapy only we And resistance going as have and But nspXX of high that we provide inhibitor clinical boost that's be said help prophylaxis which always have had to added combination hopefully on have not the protease an we exposure is to intrinsic cover with [Ph] to our which will have also do that combination really potency sort said, hope believe or potent agent always address no post really as but barrier that. pre typically impact efficacy. inhibitors will piece So, [materium] agent an also

Roy Buchanan

Mpro the on details Any great. Okay, trial…

Mike Sofia

requires. we compound, said are Ritonavir, Ritonavir anything what out Yes, for currently pan-corona as we potency profile need least for virus, we boosting yet haven't looking there at Paxlovid better dosing our competitive disclosed the that oral intrinsic on with really what's than are monitored clearly

multiple-prong deliver options So, gives clinic. X-Chem, number collaboration I of can have our a think for to we what here approach Proteros internal that's We on, what our different described. the clearly ultimately us going just we program, that with

Roy Buchanan

Okay, a great. DNA-encoded screen, library? library right, collaboration started program the with And a

Mike Sofia

correct, yes. is That

Roy Buchanan

Okay, great. you. Thank

Operator

[Operator next Keay Chardan. you. our comes Instructions] thank Nakae And question from from And

open. now is line Your

Keay Nakae

Yes, thanks.

initial XXX into where are year, you advance what now, clinical at least for each? next and to As like you those the designs from look standing might look clinic study XXX

Bill Collier

much. Yes, you This Keay, Bill. is very thank

to and talked deadline that the we as include get with complete. anticipate studies we clinic. early described that the on XXXX is we a IND-enabling with. working will yet getting haven't What XXX asset moving well when as moving focused January and coming guidance. the about the are into hard we publicly And studies that We and doing look for IND-enabling these up XXX yearend But have those now, all right clearly, other what completed are then plans forward like

Keay Nakae

When to to study just And you the I guess of might safety, maybe report? Okay. interferon. plan type reporting efficacy talk what back with of kind about combination results, beyond initial you

Bill Collier

you your and Yes, good question, thank interest. for

interferon. adding other was study was XXX at period that obviously way say we only think then stratified there I could into this with I designed the leading the thing that is stage a before

So, things in the one at of initial performed as data period hopper. interferon. on leading how the been looking as we that is has initial of well But have some is still the that

assessing still that results give are And you we will before that of we see. December. the the We end to

Keay Nakae

thank Okay, you.

Operator

And over to And to am I I would now management you. for no turn back thank further like call remarks. showing the questions. closing

Bill Collier

much. of and look Coronavirus. And right, for this questions. November for All appreciate joining through as thank these December forward our on Obviously, morning. Thanks in sharing move year. this we this the your we morning you very very we for remainder all thank to you B us your us forward much interest additional And and updates assets joining Thanks hepatitis

Operator

today's conference Thank for This participating. call. concludes you

You may now disconnect.

Arbutus Biopharma (ABUS) 9 Nov 222022 Q3 Earnings call transcript