CATB - Earnings call transcript Q1 2018 | Astria Therapeutics, Inc.

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Operator

Good day, ladies and gentlemen, and welcome to the First Quarter 2018 Catabasis Pharmaceuticals Incorporated Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session and instructions will follow at that time. [Operator Instructions] I would now like to introduce your host for today's conference, Ms. Andrea Matthews, Vice President of Corporate Affairs. begin. may you Ma’am,

Andrea Matthews

Jill available Welcome provide Catabasis review a financial today quarter Bruce. Donovan, Officer; where Medical Chief our conference we XXXX Officer; are release reference press our Nichols, me With financial QX Chief will corporate results. Chief press results, We our on our This summarizing on to which issued you, Executive Pharmaceuticals' Officer. Andrew morning Joanne is today's call corporate will today's XXXX release call. and a first we Scientific Milne, this Thank update website. update and and

any also materially as like considered manner in today’s obtain on under call the those fund and statements federal to securities Phase that from today's call, note will for With as Officer, by our will make the that website Presentations except using expectations financial also corporate call Joanne may let report on and of most judgment things be programs of research statements our our update. in that undertakes Jill? over provide to related quarterly the our discussed the Chief the based required section during on of XX-Q, review on uncertainties statements is other Scientific We business update. result slides a uncertainties followed acceptable DMD and that, will Jill these morning as Nichols, a Donovan, final law. publicly obligation Medical in update. by with a in who including risks to wrap to Chief terms of Catabasis Such and provide who represent in me our our will our our related filed and to Officer Events indicated available clinical the recent with variety Investors and laws. pass update X current no design which by Form we be would Officer, factors Andy edasalonexent forward-looking are SEC statements will future on today I timely and our website. our then during and forward-looking our part Actual will the available to we Chief ability Executive will of results may financing be trial Milne, a differ Jill a trial up trial statements to website. this

Jill Milne

on financial you, and us for an and morning, update Andrea. far this for year. results everyone, you thank progress joining quarter first today Good so XXXX Thank our

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Joanne Donovan

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Andrew Nichols

Thank you, pipeline. morning Joanne, everyone. illustrates Slide and good our XX

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Jill Milne

Thank you, Joanne Andy. and

XXXX to our first provides the quarter press Turning our XX-Q release details. financials, and

a give So summary. I would brief

we of cash through equivalents; was able advance and/or activities we first XXXX, In expect $X.X in had trial, seeking used To X million. our partnering licensing fund through of the are and through the or $XX.X debt funds additional in equity net to or December operations transactions. XXXX. cash to financings quarter operating As of we cash XX, XXXX, Phase million March be edasalonexent

QX XXXX, in million XXXX, in QX $X.X was a million million. of expense $X.X decrease to compared $X.X R&D Our

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XXXX, Our million a operating of XXXX. versus loss was $X.X QX million in $X.X decrease QX

in our QX, was $X.XX net a Our share compared decrease to loss $X.X or in million net loss $X.X per million QX, XXXX. by

had $XX.X of common For million. quarter, the we weighted first outstanding shares average

today. XX-Q, is with filed information we the in financial available our SEC Additional which earlier

data tell functional MRI edasalonexent’s of As of abilities. their a of the compelling were we the change for we hope of new extending families. affected top this I The slide we when how for of earlier disease improvements own, set functional on boys’ positive every boys that both seen we is decline. the with are to layer potential shared but more a inevitable data optimistic am on edasalonexent, their on and across how them progression they the look boys’ reminded change at rapid young consistent I Duchenne, can shows biomarkers, the and that other this disease the devastating With you treat seemingly story of abilities

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Operator

first our the [Operator Beatty Instructions] line comes And Joel of from question from Citi.

open. is line now Your

Joel Beatty

operational that cash than taking now, in the change couple think along that plans a it and morning discuss of ago. I longer I runway? I good cash with think, in noticed months is Could thanks the was December runway, any Hi, it which the for question. to changes goes go you

Jill Milne

on our program know, that take impacted as our as so lead you our that has cash and Yes, Sure, we have question. resources runway. Joel. positively edasalonexent I’ll focused

Joel Beatty

Okay. a Phase date Is the that’s start planned trial? there for X

Jill Milne

a date. and will it don’t on start soon have capital start That be after dependent so We defined will raising be date that.

We are the Phase for trial. in of process the preparing X

Joel Beatty

Perfect. and trend to but the initial MRI And eventually I shared then, primary endpoint, that We you back you that now? the just up which the the data, trend trial. randomized you Could in primary much saw on think, analysis longer-term the But more now, when you of seeing maybe TX in why you we imaging small on that stronger results. a the portion with that’s significant. statistically think differences showing that are explain a know,

Jill Milne

start then to it and me let over Yes, hand Joanne.

you hand off-treatment signal remember, So analysis a TX reduction if over of to MRI And at at per per that. XXX to saw physical five treated muscles, directionally it’s kilogram comparison does XX significance of the in maybe on a albeit to you touch When XX-weeks yes, hits pre-specified weeks leg on milligram the the our lower the it do and of that kilogram. that showing positive I’ll difference boys Joanne data small gene over with the XXX that grows composite milligrams with on-treatment, time. a

Joanne Donovan

to the the The group. placebo was, original treated as comparison, group to Jill said compare

study and XXX of look see the treatment AAN that we treatment. strengths NSAA, kilogram the we at a relative before data XX-weeks by in of a And fat the milligram it corroborated NSAA at as of fraction is Meeting. after XX-weeks initiation well. that’s showed before of we initiation same per statistically as changes at the had of changes or boys One that at XX-weeks, the the we with MRI was the the lack XX-weeks, indeed significant And and that, to changes control period look when

MRI really of the we the quiet evolution So pleased are with data.

Joel Beatty

analysis? – question those differences is you corticosteroids to that a in And the last When period time? to a there points be the that. considered the of compare period, does during just to compare, how then, boys in there two use treatment that and Okay, in is are need follow-up off-treatment any

Joanne Donovan

are information now data Thanks, to at ImagingDMD data Joel. on an at able which basis. largely in and on we annual is steroids. the XXX It Those boys are to the boys, about the is perspective times from an study, natural with important they looked be history question which XXX put fortunate

comparing increases both to are And less in extremely in increase data So of we seeing terms we fat vastus the observed that the which in our increase encouraging. largely was are the on in actually the that steroids. is lateralis soleus were that a and than was the that, group

Jill Milne

on And as edasalonexent. boys your meant period, steroids if by Joel, in our on MoveDMD went the during well control I both that pre-treatment as steroids? trial the once they sure be to question, not to boys am Our just clear, go not you trial, on throughout did were

Joel Beatty

That was helpful. you. Thank great. Okay,

Operator

And our of line comes next the Liana Moussatos Wedbush. question from from

Your line open. is now

Liana Moussatos

taking for Thanks my question.

are can for raising the what before steps you addition funding In all the Phase dosing to next patients? X, start

Jill Milne

thanks, Yes, question. Liana the for

– the clinical currently the process trial. are Phase we online So, getting in sites the for of X the sites

it’s So matter of finishing that. a

finalizing are we study. – our and the to go ready have that prepared operational are We some of product drug and details of

Liana Moussatos

Thank you.

Operator

And Hartaj the Singh Oppenheimer. next line comes our from of question from

now Your open. line is

Unidentified Analyst

Hi, good morning. Anna Hartaj. This is, for on

MRI endpoints, on FDA’s guidance, on the had the discuss recently regulators based just data get at AAN, DMD and dataset you opportunity have feedback MoveDMD to So, there? with any your particularly given the published

Joanne Donovan

hi, Yes, a That’s question. great Anna.

that options I possible. edasalonexent well, we of as cannot strategy all regulatory available getting or they happen. And pursue before quickly speak we put to out expedite to there the will about moved will our interactions forward specifics so, as us

Unidentified Analyst

future? Great. intend still is just maybe the while you And on in do on restructuring, monetizing licensing time point recent would to that to mean something investors? at the Or XXXX the bring in then, clarify some you you or the clinic focus consider into

Jill Milne

question. a that’s great Yes,

out, you Andy and as enabling pointed know, CAT-XXXX. have we completed activities As IND with

potential in great great see Autophagy a molecule in a activator it We clinical So that poised but and other is not potential novel X trial. fibrosis, indications. only for of Phase as see cystic

our CAT-XXXX edasalonexent. and and are now, right X otherwise. clinical involve program we and options this partnering will be our right or for into focus now, is Phase intention on advancing trial through focused that edasalonexent advancing on But Our we exploring could

Unidentified Analyst

Jill. Great. Thanks,

Operator

call time, over no further [Operator am would turn I back remarks. Milne for at any Instructions] questions. the to showing Jill this like closing to And I

Jill Milne

treat Bruce. you, you move we your Duchenne. strong as affected of our the edasalonexent the you muscle to excited measures, towards X by with we through We day. believe MRI and of you represents trial We At their the consistent families based all everyone function, with Have and about Thank important people Thank again support. are keeping joining looking our as rare of Catabasis, to to and are for forward on speaking disease. that assessments a by improving dedicated affected differentiated treatment Phase well such lives registration. non-effort and call we updated Andrea? a as We're to for edasalonexent forward continued year today initiating edasalonexent an and look good soon as data progress. opportunity and

Andrea Matthews

call. today's for Investor available website you. Relations concludes That days Thank at replay via be XX page A will the webcast our www.catabasis.com. on

Operator

all conclude the may thank This does gentlemen, conference. great in your and for Everyone have program participation you and today's Ladies disconnect. day. you a

Astria Therapeutics (ATXS) 10 May 182018 Q1 Earnings call transcript