GNCA - Earnings call transcript Q1 2018 | Genocea Biosciences, Inc.

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Operator

Good morning and welcome to the Genocea First Quarter 2018 Financial Results Conference Call. At this time, all participants are in a listen-only mode.

Following the formal remarks, we'll open the call up for your questions. Please be advised, this call is being recorded at the company's request. At this time, I'd like to turn the call over to Courtney Turiano of Stern Investor Relations. proceed. Please

Courtney Turiano

available and outlines morning plan the today. release operator, press issued to morning. the This that under release topics is good you, tab. we This a discuss Investor Thank Relations genocea.com at that we

Meeting. Chip financial of at During the discuss CEO, for will and and the Chip Officer, the will Jessica presented Flechtner, Both importance President provide the Clark, AACR will and some corporate data Jess a recently be the call Q&A. update Scientific of today, results, review and Genocea's Chief available

is Participants information, factors the the events, It beyond as periodic of disclaims expressly a Genocea now statements, Form provide Genocea's the remind Chip. XXXX. Before my call we begin, reports of the defined risk everyone future or I its that set Genocea's may to or duties made impact to would performance, conference as and like to result over forward-looking new factors include Genocea. any by this events Act the business and statements XXXX other to materially Commission. updates in could otherwise. pleasure prospects, on to are future Safe under during Private XX-K filed expected statements to future whether to outcomes to Securities and forth statements Reform relating provided from plans Harbor forecast be Annual control forward-looking to protection Report Securities or Exchange with call Actual results Litigation the All to Act. many such subject the due differ are those Reform of directed turn forward-looking of the intended future

Chip Clark

first today for morning everyone. quarter good discuss our Courtney, you joining and results. activities Thanks us Thank to

XXXX an $XX in equity As the been I year release that We Genocea. an January our almost million. has exciting financing for completed this morning, netted in press said company

Board of to Directors. a welcomed Following partner Dr. we at [ph], that our NEA deal

also our key team pharmaceutical welcoming Narender most filing Most vaccine our We as our manufacturing, program leadership a to the GEN-XXX. added our the Oncovir position we FDA. cancer Singh made with of advance VP and from candidate securing and adjuvant recently itself, we've neoantigen importantly senior ensure our strong IND progress with to GEN-XXX sciences lead

Following of Phase to we the clinical later IND, acceptance this expect X/Xa begin trial year. a

program As is parts. designed three we've this previously, in discussed

patients no The have blockade cancers, will of part checkpoint prior and evidence in the immune in To with first examine been disease safety a drugs GEN-XXX of status attained, immunogenicity will which have GEN-XXX, these through approved. patients receive variety treatment.

in report from We If solid combination proceed with expect in part patients failed immune who look XXXX. patients drugs the the drugs. checkpoint in parts, data and as top other data GEN-XXX GEN-XXX studying of blockade with the good, to tumors, we have immunogenicity advanced line treatment such first immune metastatic two or with half the one, studying with will response monotherapy in with next this

inclusion in the ask recent As Jess? at vaccine. AACR to Atlas version to Atlas, patient's right data believe GEN-XXX for our hugely each presented we the platform reminder, the what a meeting. Supporting are that our neoantigens summarize. personalized of I use scientists the of will Data important identify we power Jess

Jessica Flechtner

the on we educated software neoantigens cells make can continued let T data is research these letting burden. that with the XX choose of to from this Thanks In T cells this analyze first varying data supposed had what our right the specific meeting year. challenging truly Atlas nutshell, during the to field and demonstrate is current rather across multiple neoantigens presentations poster platform, This Chip. standard in mutational Atlas guesses. patients two vaccine a tumor from dogma We individuals than was types Atlas, on

run through assumptions couple the a lets were challenging. So, that of

First, good. just is is true. What are that all data show challenged our antigens this that not our data assumption the

both are the bad neoantigen; actually We finding which considered we identify good. and that inhibitory to we and outnumber which neoantigens able we are that good stimulatory the to consider bad be

Given peers efficacy. this, many in it’s could believe which our are likely vaccine, including reduce that inhibitory antigens we the their

The second respond is assumption commonly CDX that the neoantigens T which to CDX are same. made cells and

accuracy, assumptions MHC all their that refine further more the that no that software, mutational include are burden, novel not the intended the to will finally, vaccines; neoantigens is in have that we patient’s cell to identify very to that measured. identify Atlas, used are presenting the the fact, show biggest predicting and with course case. actual peers while as they work meaningfully in data the are with trying antigens, at the CDX of the T using poor Our designed responses that this cells result well cells. new namely still ONT predict better our detriment of stronger two actually challenge relatively better mutations CDX to And overlaps their being antigen The algorithms neoantigens see to is we implication predictive majority our and improve bindings, between the targets to There the little the of neoantigen greater is algorithms as having were for vaccines research shows correlation the accurately we patients. that in but not

this the fraction biology what defend values a peers the predictive model are So, our also all that positive means of does it It is strength means today. telling Well, their they complex too of story. to you use when tiny accurately mean? the algorithms, to only that

find cells see models fact, what patient that predicted not CDA those be are XX% of example, to at true by differentiator neoantigens T for the we this and key computer cytotoxic the is is for for Genocea. the In all, for we

doing maximum stimulations vaccine we ultimately use personalized our identify T system their Atlas this, By clinical include will to in stimulatory patient for benefit. formulations. both and achieve For cell each to and those neoantigens we vaccines, hope subset only GEN-XXX immune

than In at Atlas mouse presented are mice we a on in new to we profile poster namely that more in Atlas. mouse The Mouse Atlas we is this XXXX results mouse from we we have the similar Atlas; case, second that focused with AACR, human cell that were have identification of have model for achieved skin inhibitory cancer. mutations as we stimulatory developed The importance responses sequenced calling T Atlas neoantigens. that here both and

inhibitory alone of be; in cell inhibition. a and be responses, and significantly understanding of and clinical their previously stimulatory with potentially we result, the we got excited we research, neoantigens, how can study unique interact attention to this were neoantigens Both further a presence have including have at provide and better how with to mentioned, a our checkpoint the could they As of which posters some what these the T immune immuno-oncology of inhibit breakthrough model kind may now our they both cancer. tools, impact conducting might lot real and of immunity discoveries the the developed meetings to in very which

minute will to questions. proud we financials are before scientific at Chip our revolutionary We additional to just for to to a it work, back and the top-line open that of With plan extraordinarily team upcoming going Chip? which I hand continue call all meetings. this we spent present our over of

Chip Clark

great Jess, Thanks work.

another facility million equity first debt cash we we of As of quarter, million our the our through and quarter through and refinanced Also, program. at with have $XX.X the added or then detailed with equivalent since existing the the market the of stocks in since $X today's press Capital. cash release ended sale so close Hercules offering

to funds of As our our a into our XXXX. guidance fourth needs result, are we now current the meet updating expect operational and quarter

Our in previous R&D $X.X million to the for XXXX expenses of first decreased $X.X year. from million the quarter

know to a our immuno-oncology result as restructuring September. spending you this last pivot decreased of reflects As and

$X related the ago Our financing value in decreased in G&A million $XX.X million non-cash that first March quarter our expenses XXXX. first XX. include million the for X.X note finally, January. warrants was year And resulted a approximately the that from net quarter quarter does loss X.X of to for million this the ended to X/X from for We expense XXXX change our an the of fair loss also

a we summary, we're believe in So, in strong position.

we into are breakthrough talk we with about the research, on have and be but course in hope this a immuno-oncology and didn't clinical well-funded today, later GEN-XXX XXXX, leader are to excited this Atlas of to also become we we GEN-XXX news continuing year, partnership are capture and program explore opportunities for our initiating as fully value, We have well. some its to BD to front

open now the questions. will we call Operator? So, for

Operator

of [Operator comes Instruction] question from Pheron Cowen Mark first the Company. Our line and with

is open, line please go ahead. Your

MarkPheron

question today. thanks for my guys, Hi taking

is time are in to the fruits then What start talk about that and to when half vaccine manufacturing this? year what of bring a the and today get down a hopefully can that on are patients improve where trying trial time. turnaround to timeline over You you are the second to actually and in lowest-hanging back process you

Chip Clark

that the this a times, of weeks, work, companies landmark deliver founders from be the that field to in our trial right in of the way Thanks turnaround to we well. in in needle-to-needle huge will believe both studies. turnaround published initial papers quality vendors identifying put point reliable the our at we of you the deliver we order weeks terms needle-to-needle, their reported least as in coherent of tumor presented supply Manufacturing kind the be XX patients. where knitting nature part all sequence for of in reliably, patients; of the of amount They to a times is, to the to the human first the to in vaccine said, them into so, together for time time XX and peer as on July the meaning important chain. of focused their time vaccine data a received Based context, we hugely couple Mark. and on And that last which clinical time the and question, XX weeks to year XX and from have in able terms approximately spent somewhere and/or

that that stages established comfortable clinical at feel within benchmarks. early-stage initial this trial we well So, are the the we of

Now everyone's, for we said, as specific improvement. to reduce room is do you substantial like talking time is about also see targets, to, aim needle-to-needle “Our substantially.” Without the

fruit. about asked specifically You the lowest-hanging

et the cetera, B C, just take product One of we and we time A is with them shipping, materials transit. to actually move as to from

in in low-hanging same scale, are the efficiency time obvious of sort And for these that to we efforts to time. see And the example, so, more bring all for in of terms would economies in-house, bringing able be process other of activities both significant generally at and in-house if, than synthesizer we more were one sort is inherent just needle-to-needle peptide we of anticipate investing as would as the we in secondly example, fruit.

are formulation disadvantages we going are certainly but taking the So, ultimate we – we GEN-XXX, with there is needle-to-needle fundamentally time in dimension today, this time. of of that us terms specific don't discuss turnaround plus not plus as to one feel though potential critical targets other approaches of peptide to relative adjuvant peptide

MarkPheron

as next getting starting And think we about encouraged relative you be about do how CDX Okay then and response move to thanks. of interpret hopefully good you responses, data year, forward? immunogenicity CDX would great, as importance a to early the responses, then the

Chip Clark

ability a with and CDX, importance both very for to have of trial. of Jess A only the that when and antigens the question we the this and uniquely relative I I identify will important think is clinical one because then am going you we Also, answer Atlas, our what but becomes CDX, goal to Yes. ask CDXs the versus question opine, CDX relevant about work to about

Jessica Flechtner

Mark. Thanks

our targets think in in publications the transfer there was alone the so part that of to acknowledge patient T I purposely important CDX cell the able protection them. importance point protect field a out neoantigens clone in that a of particularly formulations. of subset each cell transferred really T against of address of T we to into subset And vaccine, are cells been the we specifically has where include T in CDX will adaptive it’s cancers, cells that critically as fact, and

the very patients, target. you have will immune to the the we identify that cells CDX feel in we to each strongly ignore of endeavor cell in these subset I both specific we the include target and so, said, responses and T of these and responses will so And importance capitalizing their we T cannot CDX as on just when

Chip Clark

in antigen-presenting So, immunogenicity. cells let for enable inclusion that patient's achieve therefore the letting is, T and own is to of me better our vaccine for then, nonquantitative is objective and Atlas Mark, the cells select identify antigens to question antigens, the trial and goal turn by the using to of high-level better the the to thereby what us course demonstrate right

Let's a this I immune we is it. from different there the measure immunogenicity talk you but couple antigens. measure the and blood you about know patient the Mark, to of ways is and it. One what know personally how to can vaccine simply responses are obviously measure X-Vivo take

you measuring In the the in The is the is of are mix of to of vitro it stimulation in to take a haystack, with other X-Vivo other ensure we growth at and way just that blood the the cells, multiply number way of the numbers. words, to haystack the out if the needle things and frequency kind responses to amplify them. antigen’s other T sort can responses the grow is needles of essentially that there to to factors a so the looking in

relying the actual and relevant the some two about are vaccine. other by are by vaccine response versus T between lead whether difference antigens would measuring the achieved response, detecting the presence way an the the right whether is an is looking immune a that simply not cell stimulated at system be blood. vaccine to effective the has effect, what X-Vivo the responses been principally because of In immune of nonspecific by the antigen at immune first, an measuring words, specifically or the on in of about antigen there difference presenting all more measure between to uninformative the the immune detecting We the responses biologically the to

we go of our numbers is been put that a Atlas has we responses that by I be will what forward percent to I result. and numbers; we concept both absolute for huge of measure achieved, what for a of and So, course step huge goal and do those versus and the terms at would antigen do peers, you think to reported to referenced, want to is numbers and better nature unambiguity want papers measures is That our this we achieve say better in our back look ours that field the would proof platform.

MarkPheron

lot. a thanks Great,

Operator

of our Gil and comes you, Thank next Company. question Needham with line from Blum & the

Your line go please open, ahead. is

Chip Clark

Gill?

Gil Blum

Hi Yes, was. guys, sorry. I

MHC for to any like complex be a core better prediction There about AACR. Is the thoughts? just prediction So, for question the any algorithms. poster or in there seem reason this, II underlying

Chip Clark

to that answer question. will Jess I have

Jessica Flechtner

Gil. It an observation. Thank was

in I the think because poor feel our that from anymore, it predictive perspective it number exact value I XX% range. do was remember but the not

be it numbers. though think I product of may small a

of We have study. for focused we work, in first primarily on part done research fewer CDX were CDX response as neoantigen our our the the screening

the also T continue And more of will add so, I against more to think patients CDX we the we and that screening cell subset to frequency decrease. find mutation as libraries, begins

Gil Blum

keep Thank, it. following I will

Chip Clark

you. Thank

Operator

from comes question next Wainwright. line Pantginis, Our Instruction] the from of Joseph H.C. [Operator

go Your line ahead. please open, is

Joseph Pantginis

taking for question. Hey Thanks the good morning.

you looking discussed just rerun responses study be upcoming the see to thanks so obviously you Atlas to postvaccination? neoantigens will regard for changed assessing, to that. through the if the with Will be have First the immunological parameters

Chip Clark

Joe. Thanks

demonstrate getting I can our result think vaccination? is, over of that. And to at ultimately the I'll Jess antigen turn to as spread you're answer it question we a

Jessica Flechtner

Thank Joe.

answer post-treatment much but order time I consider those can evaluating. It in available now that from are right points of will it plan question to doing is depend how the patients the able we have to we we part on sample accurately, the be think that. in

Joseph Pantginis

T and a can level the or the you with had not follow-up pills could Has you some great. cells. therapies scenario mind. excision excitement could or of expansion lot been obviously it derivative if know enhance platform, and have envision say of of expanding tumor to there's With evolution specificity other where other, the or drive before platform? about the of a agents you thoughts to you a harness ILX like T quick regard the ILX or help the And antigens to any Okay based what lately increase company which just regard do cell the then

Chip Clark

challenge posing exciting things combination so logical things one the revolutions there to we but different also in Joe and trying where the of course is of immuno-oncology are can So, many you're very potential a are be the combination explore. of

at reason cells. therapeutic of just The just neoantigen think complement with could ways unleashing picture. generally take approach of any sort back why T is I a step in one as big believe and some the natural in vaccines that see to the cancer look we more results that opportunity we vaccine these about

of but one trial. that's exploring, certainly, it's consider things initial we that part not of would the clinical So the

Joseph Pantginis

Thanks it. Got lot a guys.

Operator

and from from line the W Baird. of comes our question Mike you, next Robert Thank Ulz

Your line is open, please go ahead.

Colleen Hanley

Mike Colleen morning. on Hanley Thank question. is this Hi, for the this for taking

the how talk study we So, going for be starting to through factors can many gating part year about will this later you to the A? at sales and enrolling patients sites

Chip Clark

Thank speak Colleen. factors. generally gating sort I can of

relate First comments having which the we and broadly questions deliver clinical to speaking formulation IND to intend could the the we await generally FDA how or vaccine. protocol or either filed the

materials et IND protocol, pharmacy sites accepted typically such would would that do they you that do the getting use kinds patients initiate possible them, a the of the material that we will FDA receive matter respond an are you the review an it's if may questions the assuming then the on is for cleared get to once as have sites include cetera. only IRB to see we with prepare that much clinical of sites we have us would their generally go, it's IND. hypotheticals and to speaking to approving So, manual The studies. speaking before of working obviously site, so and questions you things There to ready here, to vaccine the so

all that deliver course high while question standard that customer have in behind-the-scenes the, getting the the be would all in stuff to chain honing about we through. gating So, we items to supply Mark's facing very spoke we be vaccine. this at would ready that then level is go that earlier a And so of, sort the

You asked for believe. looking line expect Part really those not expand there the question, insofar of trial, Part for sorts of Part many clinical patient single we range. A achieve We we patients, you to of trial. A as how sites at number subsequently I work in then digit and in A are And somewhere as include our that, X-XX need for that that Part bright B sites with don't many the is a necessarily sites but the between to we

A. And so, to sites a I about A be of contributing majority the will the and on that would speak that that we for, look it’s be number of X-XX report those for order likely of Part mentioned of, same Part the on actually the we sites when sort results, patients smaller

Colleen Hanley

Thank you.

Chip Clark

Thank Colleen. you,

Operator

you, Clark I conference questions, the showing and Thank to turn Mr. am back and further for to like closing I any over remarks. no would Chip

Chip Clark

for you time your today. again Thank all

be Targets our the sharing of very and as forward We delighted bring that progress in they developments We all both and to service Matter. to to Thank preparing well look into you mantra patients. are in clinic much. absolutely sharing as our to to data GEN-XXX that new emerge as

Operator

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

Genocea Biosciences (GNCAQ) 10 May 182018 Q1 Earnings call transcript