SELB - Earnings call transcript Q1 2019 | Cartesian Therapeutics, Inc.

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Operator

Thank you for holding. Welcome to the Selecta Biosciences First Quarter Financial Results Conference Call. [Operator Instructions] This call is being webcast live on the Investors and Media section of Selecta's website at www.selectabio.com, and it is being recorded.

For opening remarks, I would now like to turn the call over to Elona. Please go ahead.

Elona Kogan

morning, good and you, everyone. Thank issued Earlier first we release our press XXXX today, filed financial XX-Q. and we quarter updates, results containing corporate a and our other our XX-Q accessed and can release www.selectabio.com. the by This visiting website at be CEO; joined our Stephen CCO. I'm Smolinski, and Brunn, by Carsten today our

important that limitations, and planned Before of we results cash, timing which equivalents those purposes Actual statements including our the discussed anticipated related XX-Q company's trials, expectations, constitute data collaboration of accessed plans remarks the platform, about the would forward-looking during the potential a report this by as ImmTOR a advise provisions most Reform cash product, and that like the safe with of factors, quarterly harbor Securities for from the www.selectabio.com. those get XXXX. made to statements call, at prospects, ability of Act of and Risk started, be forward-looking certain materially result trial, for to the our company's indicated SEC, in the statements under Factors readouts sufficiency differ of we of our Private on filed Litigation recent are these including, future inform market may investments Form without results Selecta's future section can short-term with CureCN, various of the potential

only May date. forward-looking as subsequent views In XXXX, today, of company's the as should views of relied as addition, any upon not the representing statements company's represent and X, be any

it things let some change. specifically if at me forward-looking do management's now Carsten, future, kick views off elect disclaims the who introduce so, While to to Selecta may these in even statements today. update any And will obligation point

Carsten Brunn

Patient ongoing COMPARE trial progress give continuously in X-month of product March, year. superiority if is upcoming enrollment for as head-to-head successful, anticipated Thank patients lead and our compared designed strong to an announced that platform, laying us We refractory initiation groundwork this the our will milestones we this In with good demonstrate morning, developed to late candidate the to SEL-XXX the and evaluate ImmTOR we our you, SEL-XXX. are of Krystexxa gout. opportunity made adult chronic Elona, everyone. trial later

Beyond administered vector we the the lead potential is combination tolerance program therapy. recently to to believe time. redosing approach through We data ASGCT Meeting biologics, platform in that the preclinical this gene allow April. in ability ImmTOR there's induce therapeutic Annual XXnd presented encouraged of provide efficacy at immune is tolerance. that AAV potential vector benefit in and full an with for can for ImmTOR, We by ImmTOR over believe when there in are believe gout, to vast technology the validated induce its potentially new in particular, the AAV-based We enabling with redosing sustained of

Horacio a associated the ability a announced convert therapy we properly has and the while body. potential time, collaboration to technology toxicities by with the with their The combination the ImmTOR inability as year, important I'd like a doses. bilirubin have particularly gene young-patient Head our is Corporate large European last work recent clinical Elona and appointment it March, of redose Crigler-Najjar of AAV that, of and and before the levels use contributions I'd program over consortium, our With expression And on the patients Counsel in at CureCN, management to I'm as team. of we important the and the in In corporate for thrilled to to in team Elona to able to I Plotkin into over syndrome, clear proportion characterized and detail part hand have avoiding continues and also genetic to to to from progress. for Additionally, Horacio more strengthened therapeutic go like of Stephen with gene already the program, some disorder rare on populations, Kogan to Clinical made our them Also Both same achieve hand program this the gout General transgene vector to therapy Secretary highlight with call of company, potential updates. Stephen. Development. increase to

Stephen Smolinski

Thank you, Carsten.

refractory Carsten gout, the acid reduce and the convenient potential more serum several uric needs in SEL-XXX mentioned, that has to we reduction, painful including dosing. believe As flares address unmet sustained once-monthly chronic

to the of X the quarter designed is and anticipate adult XXXX. statistical SEL-XXX trial, which in safety The enroll to patients the year. Patient serum quarter uric milligrams refractory in our As ongoing, Krystexxa, and announce fourth to We XXX March, of a data in to planned plan initiate Phase X-month uricase. the pegadricase, a compare expected of trial analysis in the immune data the announced inform technology first superiority trial chronic COMPARE fourth novel FDA-approved deciliter design with of Krystexxa is an X-month reminder, SEL-XXX head-to-head at the months. the COMPARE of X initiation of tolerance and is results a our we this the acid current III than we per interim readout maintenance therapy, the The clinical this endpoint our In against ImmTOR, quarter are and we pegylated year of of uricase to in proprietary of full patients. which the clinical levels gout. enrollment efficacy combination is interim expect to of primary less providing trial plan

and of small patients being rheumatologist. by with U.S. are terms treated gout in XXX,XXX only the percentage refractory chronic a In currently roughly are potential, there market

are looking consistent flare convenient for low As over control and SEL-XXX, develop we months, dosing. monthly we X sUA more rates

Carsten in to to the over With address first $X has discuss represents that, population turn to our the market XXXX patient Our billion identified results. currently a need potential and me over quarter product unmet this call opportunity. let financial

Carsten Brunn

result and was recognized for the million the XXXX was of for compares collaboration shipment $X.X and revenue Phase Stephen. no agreement which and development first administrative incurred less under first fees. expenses same our result same The primarily Spark, XXXX. the II period XXXX clinical of headcount of combined our expenses $X.X reduced first $X.X quarter for were the by the to of $X.X quarter quarter Phase salaries the reduction million, Revenue benefits XXXX of in order million for was for for XXXX. consulting were of which with at for of in cost reduced the quarter with first to XXXX. as a SEL-XXX. compares for driven than XXXX our quarter period was of the beginning The the General Thank with and $XX.X which you, recognized compares reduction for programs million, million expenses first in III both Research decrease

first $XX.X same reported share loss $X.XX compared of net Selecta period in net $XX.X or a million to the of XXXX, per for or a $X.XX For million share the XXXX. per quarter loss of

March investments XX, XXXX, we had $XX.X and of short-term cash As approximately deposits, cash. cash, million restricted in equivalents,

eager unique in and additionally, first gene physicians, data interim to COMPARE our summary, value fund of unlock are balance with we're forward our AAV is really technology about the fourth a potential formal in the platform, chronic to gout our late-stage looking redose That And concludes quarter. we for data the to our asset therapy. remarks. broad are announcing to from our our expect particularly which the and on into operations to that Based of In has potential. quarter about feedback We we cash XXXX. sufficient excited continue excited

we'll Now questions. for open the line your Operator?

Operator

Instructions] comes Mizuho [Operator from first Our Yang Securities. question with Difei

Difei Yang

between naked from different encapsulated back potential came bit How to just difference rapamycin. and retreatment nanoparticle Carsten, we gene tell would ASGCT the one, would a quick little you with they gene a rapamycin behave therapy. therapy... of So regards in us of using

Carsten Brunn

thanks That's question. a great question, the and for

actually think action. fundamental mode the I difference the of is

up taken cells, So T the selectively our works spleen and induces which encapsulated vector through program. the rapamycin gout in is

seen the gene program see to and as have therapy hope this same We well. our in clinic, for the we

free different of tolerogenic actions it's it is which mechanism is So immunosuppressive. or versus rapamycin

Difei Yang

-- one related Krystexxa. another to And question

do presentation, earlier XXX the about, for talked month Krystexxa? of was of you number and during there have apple-to-apple roughly I in flares, first you think XX% the patient your injections, the

Carsten Brunn

see apple-to-apple top actually I are the the flares So overall know are, numbers gout you don't Krystexxa we -- which in what of PI, can but mind, XXs. in the high the

Unidentified Company Representative

are the X that get XX% into that month Right. during off month And first when Krystexxa among again, what it seen tapers the should and Difei, further look into you the you treatment. you second flares of at our month you most see same thing, during again, as and treatment. And, then data, see

Carsten Brunn

often hospitalization, glout times just we And just major actually, it's patients. of I because to a add, flares think to lead they differentiator that reduce think

to going highlight we're I road that's well. down So as something think further the

your So question. thanks for

Operator

Archila comes next question Derek Our from Stifel. with

Derek Archila

progress. on bit of Carsten, two just potentially standpoint little the the strategics, Maybe appetite you color ImmTOR with we -- study? where questions me. of stand as And the among COMPARE a for on can then on enrollment from give an the kind just thoughts for on us Congrats just platform? partnering you

Carsten Brunn

for and your Derek, Thanks, thanks questions.

In terms progress. the with of enrollment, we're pleased

sites and As active track, unique started both is this what think X trial between we're patients. late we that on but arms. March, makes the I we opening And have mentioned, we trial also

trial. for into there's think this benefit I So a patients going

I And don't a interest in we terms terms and are to I comment you want positive discussions, continued in I what makes unique on we're -- from and us of partnering, but So we're partners can on we is there recruitments. ongoing platform. think tell so that track of

later think in their presented We continued but I specific lot talk of a I about. to data when update program gene But at we'll is have stage there there both we D.C. platform. interest our on ImmTOR we applications that gout recently. think But in you the something is -- in therapy, around have interest a

Operator

now turn question-and-answer would over our like session. for closing concludes Brunn any the remarks. to back I call Carsten This to

Carsten Brunn

platforms, today. unique to Thanks, and our think forward I ImmTOR Thanks us interest. And excitement so reiterate so much. much. for want around we our has joining we Thanks continued just look again, potential your which to

Operator

Thank now presentation. has for conference attending concluded. today's The you

You may disconnect. now

Cartesian Therapeutics (RNAC) 14 May 192019 Q1 Earnings call transcript