GNCA - Earnings call transcript Q3 2019 | Genocea Biosciences, Inc.

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Operator

Ladies and gentlemen, thank you for standing by and welcome to the Genocea Biosciences Third Quarter 2019 Financial Results 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].

I would now like to turn the conference over to your speaker today, Mr. at Director Managing Ferry, LifeSci Advisors. Dan you. Thank go sir. Please ahead,

Dan Ferry

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

update. Q&A, Duvall, prepared During corporate for will be the Chip; financial After Chip questions. the review your we'll Davis, Officer; provide today, Chief open Chief call company's call to available Chief and President and the the the will Diantha; Tom Jessica Financial remarks, answer up then CEO, Scientific and Clark, a And Officer, Diantha Medical will Officer, results. Flechtner,

expected All Harbor events impact differ defined under remind Genocea. subject include those are we that factors such Act results could call during due intended materially of by as statements future I statements the control or Actual forward-looking business beyond statements and Securities many made Private Genocea's be Act. the to provided Reform conference performance, or protection forecasts prospects plans like to Before future forward-looking begin, may future outcomes XXXX. Safe of to from Reform Litigation everyone this the the of to to would the relating

in Exchange updates disclaims are the Securities Participants directed as provide expressly XXXX new Genocea filed other Commission. with any statements, report events duty Factors periodic annual XX-K or otherwise. and to forth to whether information, set forward-looking its Genocea's to and on a reports Risk future result Form of the

call the over to Chip. is It pleasure now my pass to

Chip Clark

for joining you thank today. us And all Dan. Thanks,

platform. our of therapy our focus, GEN-XXX, namely neoantigen neoantigen across discovery our in each cell progress We continue operational important to the and antigen T areas our ATLAS vaccine, of GEN-XXX, third make quarter

summarize GEN-XXX me Let progress. our first

X/Xa or our for As immunogenicity you from ESMO. Conference Medical Oncology XXXX most the Phase Part A we Society know, at study data of of presented European

ex for both platform a both reminder selection. generated XX% vaccinations, antigen showed of vivo is GEN-XXX and to IVS patients ATLAS all immune of of Our unprecedented with and responses neoantigen our for which preliminary analysis of neoantigens, power data the clear immunized

to expect the Immunotherapy or for early immunogenicity November. of A of short-term SITC present the We substantially at remainder Society conference Part Cancer results of in all

With goals. neoantigen reflect that We want and in mind, to vaccinated the responses on all goals I immune to want against progress immunogenicity substantially these first neoantigens. of our vaccine

CDX are for as Second, subsets, both CDX which essential well T we together want efficacy. responses cell from as sustained

to T CDX cells a prevent such immune Finally, these concentration continue measures, assay number to conventional function, T to unprecedented response. IVS generated and in assay and vaccinated greatly elicits that from GEN-XXX memory CDX as as neoantigens the of has increase such vivo broad to substantially in to detect we reoccurring. immune tumors we and to able on an results. And them kill responses demonstrate be responses should vaccine ex to confirm all primes each of want cell A effector well believe

antigens for nearly thus right immunotherapy. exclusions can the far only These identify, for of data importance cancer be inhibitory ATLAS identifying that that present of the appear cancer that antigens ATLAS also proof offer to They clinical responses selects in patient. and compelling showcase the every

these excited reasons, GEN-XXX. about may remain all For we

which advanced trial, cell standard-of-care with patients B inhibitor therapy combination GEN-XXX Part lung for patients checkpoint accruing of including Phase melanoma in we evaluate designed are with to cancer. our and We X/Xa clinical disease non-small in

efficacy an provide preliminary will we Part initial cohort XXXX. clinical that anticipate data patients in We B of from mid

made year. TIL therapy best-in-class of first tumor therapy, advantages believe this this with to next lymphocytes T We've adoptive treating infiltrating quarter, our potential for IND in substantial represent may over cell me it cell T half let therapy. therapy. tumors turn the file and progress to for GEN-XXX or Now a neoantigen solid and intend an We TCR specific

ATLAS Finally, an let me provide update.

as in a the of Even we with variety ATLAS other ATLAS, to applications. research advanced critical GEN-XXX programs we conduct continue and GEN-XXX

particularly neoantigens and exciting to from month’s continue inhibitory their next to research SITC present to are implications. We explore intend conference. excited at this data We new

that, With before to financials to I'm going to Diantha? call pass this the summarize up over call to from questions. quarter the now our Diantha opening

Diantha Duvall

Thank morning, everyone. you, good and Chip,

expenses compared results same period quarter $X.X for period the ended in million for to as for million XXXX. were are compared the R&D XX, to in G&A million Our September operating million XXXX $X.X were same XXXX. $X.X follows: the $X.X expenses

capital investment million. million including million, us $X.X in of loss participated loss similar existing XXXX. the net into of with our an XX, agreement up both for existing financings. initial Yesterday, Park million to Capital having purchase This ended stock is entered net $X.X an ours, Our to we Park was investor $X.X of compared agreement Lincoln ATM. quarter $XX a to Lincoln will for September to allow XXXX of access the a

continued expect both use GEN-XXX. it strategically GEN-XXX to and of We advancement to fund

existing the support first equivalents operations XXXX. of expect and our cash our quarter into We cash are to sufficient

With that, questions. call open let's now for up Operator? the

Operator

question line [Operator Instructions] from Burnett First with of comes Ben the Stifel.

open. is Your line

Ben Burnett

a the something had recently. at ESMO question update that about I disclosed was

and can If I antigens found you to antigens. discern guess these is there can vaccinate from was B? can stimulatory that cases into discern patient didn't also leveraged anything anything guiding towards who one patient this you about insufficient from learn have it against. maybe be Part that So enrollment had I patient

Chip Clark

I'm provide, discuss the saying biomarker biological only of of Thanks, ask because Ben. kind all It's candidate you're assessment ATLAS Tom study. to our of an only going potential, I are in important we insight really to neoantigens. question. guess can And implications clinical its that this doing ATLAS

Tom Davis

I you. Chip. for had I wish Thanks, a Dan. complete a It’s question, great answer

of that are but they develop are mutations, in from may those sense, that So or to what need to suppressive have alluded the important forward points does makes system. kind make some is But both also react these determine to out their move own some each the in do antigens, way ability that which these immune to whether unable tumors us patients will clinical are a escaping telling antigens, are ATLAS that and the to patient different significant we immune Chip is ATLAS because others their patients so We trial. facets which own respond. to, not as be unable reactions, have to truly inhibitory able

have We stimulatory work order don't against who But the have will have immune repertoire that make that here a true you've to to evaluating some patients tumors. alluded the antigens to in what we're meaning the of vaccine. to an appear

the facet initial the So does attempting of it vaccines looking are information. is of that and the But us study, ATLAS important to part make can. of give two of we patients at we sort I think pieces where all

heard, us will of had as patient. that can go succeeded that you've we what targets time, First, in the when we've after. And work tells it XX% stimulatory antigens we

it is the presented of that us who also are approach at to this and second, can tell which who not. have be data, is patients particular shows going from SITC unable to predict ATLAS who benefit readout more will and The those will respond we do

down will also So it -- our the the but vaccine, enrich who serves predict us benefit both and line. to ability thereby respond to help patients design to to

Ben Burnett

more wanted one ask follow-up. to I just

by a B early that response I But are of Part expectations think next Just midyear? with I on the guess understand based of have now. for the of disclosure your preliminary and expect kind enrollment, to as the may year. be you sort of this number press it's release regards what the noted I look. patients duration

So this are what update? I your expectations internal guess for

Chip Clark

Tom, why that address don't as you well?

Tom Davis

quickly? Can to you ask that I'm question sorry. I just repeat

Ben Burnett

Yes.

in next asking year. So, B Part disclosure obviously I midyear the was just about

sort expectations press duration think say this for of number release of noted preliminary you there Is a look. response anything sort of what your internal update? I patients, this are about of is can and

Tom Davis

actively accruing accruals avidly impossible tremendous and significantly data have of much but how assess screening believe at those are point pick think patients. besides to and have not our to well. we in we're midyear, It numbers to for standard-of-care enthusiasm exactly do is we'll adequate we particularly whether We course this adding or going patients we think patients there many will some how the and I patients is

many providing So, as guidance not we're how to patients. specific

But so how many know certainly a get we will so. in to enough contribute. us And able vaccine it be come for what or is over the next six to of months the sense

Operator

from And Baird. our next Ulz is question Michael with

open. line is Your now

Colleen Hanley

Thanks Mike. Hi. taking This on for for questions. Colleen our is

will that all to the SITC so probably said and early looking assuming patients eight completed substantially all of they the forward five update know all have point? November at I all Just data then doses in

Chip Clark

are we SITC. have expecting present be Jess to speak Colleen. response I'll immune able the that data to at to Thanks

Jessica Flechtner

Right.

will data will baseline accurate think from series focused The that all age anticipate speak, response it’s we patients. I to presenting on time and data be primarily post time the that point. the immune have we

of will all doses So, are not it the responses. through all patients yet. the not immune post be They all

Colleen Margaret

And just Okay. Thank then you. up. follow a

the talk comment on amount label. -- with can Part GEN-XXX at to different then the Whether of it will be and will PD-X about on they B PD-X the on the you've whether dosing, patients? about sequencing know I the looking according different you or said little GEN-XXX? same PD-X going So the and for can you first But dosed of be the a bit will on time the

Chip Clark

Got that it. you Tom, could Thanks. please? address

Tom Davis

Sure.

regimen, here on goal PD-X others a that's PD-X may with regimen combine represent but is targeted targeting. standard-of-care GEN-XXX some agent to the a in just our based it combination is that So cases

GEN-XXX out chemo characteristically the combinations we their receiving if and so well. is The therapy. So, those can a agent, it's actually initiate when designed well we can trial are that X the just to tends months X targeted us discontinued if patients PD-X. vaccine, general, CTLA-X complete fit the and their are nicely period manufacturing PD-X the in and for about that, of And PD-X because timing completed are for a given therapy, they're the patients then on continue similar on to that the a when the then combination works combinations over manufacturing for are in we patients as while

combination therapy approximately in to order have the started manufacture We it XX and vaccine when us could that weeks initiates. patients their to the that's so takes when timeline the between have XX publicly generally announced

Operator

And our Co. from with question Needham next Chad is & Messer

Your is now line open.

Chad Messer

kind we see the can't at on quite on that and something one an the wrap ESMO includes explain Could included poster. didn't and point aren't poster also maybe It's that. in of Another of significance the indels enriched. my frame that I finding? the meaning It analysis head but in the you you the and shifts of makes ASCO conclusions, those around

Chip Clark

question. Thanks, Chad. that going have I'm to Jess take

Jessica Flechtner

question. the for Thanks Chad. Hi,

in a a theory loss tolerized down a select the to new There's a trying been would a field include a are emerged who the vaccine their theory from be avoid read-through field. there's to just epitope these these prediction to predict This hasn't a scientific So antigen in example, there's better algorithm. that a what because, system or because an into the it. trend lot a antigen if is in for good they of to people immune previously towards that would stop point. entirely intron be it nuanced to sequences educated and naturally And might have there's

they're is that them, we not these not for new we example, enriched case antigenic what single acid novel the than When sequences. is found amino for that have more so truly change. are find antigens And a it

Chad Messer

that. every day. for Learn Thanks something

SITC, from of sort data. brain for? other we Tom analyses vaccines. few to in us to respond on weeks findings know look of a going I’m how terms alluded just to who expect can some get novel for already to going prime data immunogenicity of is should Looking or we're I told And trying predict forward you've kinds what to Any that my to now. ATLAS

Chip Clark

Yes Chad.

their we is, I other clinical think the be importance in presentation treatment. antigens inhibitory that So separate and be emphasizing will will in point a and this

ears your those for keep the So revelations. ground to

Operator

Blum Gil with our & Company. next And Needham from is question

Gil Blum

of wondering Part kind the forward? presented They for kind I'm kind from a just This program expect the and show some back ex looking Neon of data even for the CDX responses AACR. going of vivo in did responses little you D if is the higher backwards at assay.

Chip Clark

So Chad.

point aside. whether So is we assay. let's true about a ex little the bit nitpick a But Neon that I think vivo assay leave probably

You're asking immune vaccine we that immune would essentially there correct? if be be on some checkpoint therapy. make expect priming would some system and synergy that inhibitor, there response to Is in between

Gil Blum

Exactly.

Chip Clark

question. that handle to Tom ask will I

Tom Davis

hopefully context, with these death. that some checkpoint board. seeing does be inhibitors Checkpoint system it's inhibitors have And tumor that been because in some think the hard would hopefully evidence of give to clear good responses. of epitope a that have to immune they it’s significantly it's now. patients tumor immune spread I Sure, course, will And the how the patients of one. clear a on alter don't me to what saw to greater there's profile. patient's predict that I it But immune responses. exactly response do picture however, of We and you’d do tough their going did immune exactly think inhibition time the as not in improve checkpoint here. clearly alter a question. Neon addition experience, what's the available No, expect But array happen see. they that And for will responses and quite clear immune see

Operator

instructions]. [Operator

the Daina of from comes line Leerink. question next Graybosch SVB with Our

open. is line Your

Daina Graybosch

three. have I

The neoantigens are correct cells me guys got in tumor the or your you are that get I first to assertion Chip I of killing T able an wonder immune and been is, these if wrong, number to vitro that stimulate? validate you one to if the of plan validate have response. XX% stimulating

Chip Clark

to Thanks answer I'm question. Jess that Dana, question, for the turning to

Jessica Flechtner

in where killing to Unfortunately assays. viable trial, cells clinical those have don't can the tumor patients these grow the we Dana. Thanks, from do we

in models. We data have generating animal our been those

are we don't But ATLAS what with valuable So have unfortunately, because that can't that we're do viable access the assay. we finding to to is tumors. tumors, killing confident we

Daina Graybosch

those do assays? of some clinical the in tumor to you undergoing now samples kind right have Will trial

Jessica Flechtner

that way be be planned viable biopsies sections, this will but have trial, will we they for FFPE not -- of have they we The will tumors, so tumors.

for techniques. such or indicators sequencing into the look infiltration response TCRs will other or is you staining perhaps by RNA as assays tumors, happening do other can We that there type immune of

Daina Graybosch

from then patients about you expect about unfortunately perhaps have following that to Got not the got it, up thank is theoretical lot does best patient a My question we a that thinking try clinically to already a assays if What respond question next neoantigens, there you. so de of for patient ground benefit create expect of Is doing vaccine you should earlier Would a that’s, wouldn't and sort patient. any vaccine can't neoantigens. and patients with to one and are neoantigen a and enough ever from those a have of benefit patients we good novo incremental that there enough? wouldn't be that given vaccine middle sufficient the T are for cells sort you whether about just a some to that assess their responses?

Chip Clark

take I’ll Tom Daina, ask to that one.

Tom Davis

Well, us seen and patients patients. mutational tremendous to react with doesn't can targets. these possible insight We've appear clear the between against. one. Again with correlation ATLAS into patients a be there another many themselves a tough ones some to in XXX gives patients burden that mutations And up

to, the certain question, number of look of raises level, responses the your to lower it we to tumors? response sort these when of there a that So the better. think comes is limited that tumors to immune are it immune outcomes, We lack be Obviously, is much at there's when more grow. which certainly ATLAS a order in tends system immune a for

being able immune is So do important that. augment should very be to able GEN-XXX and to a response

tumors. where introducing ones important probably quite we only able heterogeneity really many against generated actually We're And that take a as remind in look when everyone at response immune Although, as pause And excited to and the antigens of GEN-XXX, targets. be cell to target to I to the an comprehensive therapy. is patients of therapy. be a forward you critically moving individualized we're is are that many who possible I which cell externally will think, will new

Daina Michelle

easy an assay confidence them yours you an apples-to-apples complain certain assays. if think be maybe should results are And wonder end. one and you I to well? you looking that ex-vivo understand others who often for help to get could publications of about to or others we us with We And your ex-vivo are relatively reported hear academic what types and competitors doing to

Chip Clark

of one ex-vivo Daina, the what a to consider would So of sound essentially assay. we be principles

Daina Michelle

put Yes. That's better me, than yes. much

Chip Clark

not I'm clarification, not. Not, trying seeking be critical. to

Jess to answer have question. the I'll So

Jessica Flechtner

the blood, assays measure an ex-vivo intention assay of think the actually so is you around from present it possible. when actually definitions the as you I The are to and manipulate as what critical. in really to try both is took little it patients

-- on depending at. the But looking depending ex-vivo definition on to So at. the an in that assay XX-hour you're classical looking assay an you're the varies one timing that is -- analyte by overnight analytes

cells hand can before present you classical blood The cases, IVS and an we have perhaps And into response. there either back assay in XX some been X cells is the just been to in would assays like of ascribed on definitions And publications. And to that about other culture culture in the those cells of immune in the variable assay those you timing turn some are effector days in in memory consistency timing has to wildly of the intention cases, that measure. a readout field. the

Operator

not any questions. further I'm And showing

for now the I'll turn remarks. to over Chip back Clark So call closing

Chip Clark

you, operator, future to will today. updates. look I and thank us We you for forward joining thank everyone simply

Operator

today's you call. and this participating. for conference concludes Ladies gentlemen, Thank

You may now disconnect.

Genocea Biosciences (GNCAQ) 28 Oct 192019 Q3 Earnings call transcript