CWBR - Earnings call transcript Q4 2021

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Operator

Good afternoon. My name is Kyle. And will be your conference operator today. At this time, I'd like to welcome everyone to CohBar's Fourth Quarter and Full Year 2021 Financial Results Conference Call. All lines have been placed on mute to eliminate background noise. follow presentation. will session question-and-answer the formal A [Operator note this being recorded. conference is Instructions] Please

to call turn Tarazi, like I'd Now the Investor at Director over Relations CohBar. of Jordyn to

Jordyn Tarazi

CohBar's financial results Call. And everyone, thank Thank Conference and you, XXXX for Kyle. joining year full fourth you, quarter

Medical and would welcome Joining on Chief also today. be newly take opportunity to Officer; like Nick also is CohBar's Vlahakis, Chief appointed CohBar's Chief Joe to who me Biunno, Sarret Financial Dr. providing CohBar's call Executive today's will Jeff Officer, Officer. I this remarks

our at remarks, time, Research, Following will CohBar's was be our collective website we join from today also Kent conclude financial of at with SVP cohbar.com. earlier Q&A, press release may issued which Grindstaff, results us. Dr. and will downloaded

take our regulatory securities Mito+ to product operations. and statements pipeline like statements our research These trials, pipeline ability updates to listeners company's strategies, strategies its regulatory resources, from call Before and product filings remind Potential our regarding the today's platform, and planned capital our and and fund planned business and for the financial of to I'd other ongoing and and forward-looking include, the clinical timing and statements including of candidates, therapeutics commercial plans the may are regarding activities, remarks limited include and financial operating development candidates performance clinical and and we relating of laws. status begin, a expectations partnerships and announcements trials. meaning moment therapeutic to, on the statements potential conference not the forward-looking company's but the to within that

risks at a that CohBar. our These projections that today's release. involve current cohbar.com, filings in registration harbor in and applicable results materially cause risks which well as from are available fcc.gov and and website actual by statements as other included number Canadian Securities and based and the reports are on uncertainties and press described anticipated statements, differ to expectations, with on with regulators, securities our are uncertainties those sedar.com Forward-looking and could the interpretations safe Exchange of Commission statement

that may our from update forth forward-looking You whether not statements. to materially statements statements CohBar guarantees any those and results in result new actual of future cautioned such undertake of otherwise. are any that information differ the performance revise events set future publicly are forward-looking not or or as a does information, or obligation

turn over CohBar's Joe to like Joe? I'd call to the Sarret, Now Executive Officer. Chief

Joe Sarret

this And the across programs, our concept our for XXXX clinical This our of CohBar. In Jordyn. past platform us thank clinical important our made of been human candidate second and our for business, eventful aspects strategy. an our all year We data everyone, to you, from trial. afternoon. joining capital demonstrating We're announced in has proof approach. development. first and Thank advancements for for clinical you, pleased have including top-line our positive financial process, nominated clinical We one

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experience, are wealth CohBar of thrilled to part we Given as his team. of have him the

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is program demonstrated in for of partnership. our CBXXXX program, a clinical of concept the place plan of Finally, our clinical in context with the take proof this future development to

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scaled to We support initial manufacturing have the study. clinical necessary successfully the

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of injection GLP-X many For site initial the reactions in seen example, development agonists. were

cornerstone XXXX. become peptide X this Additional generating approximately formulation in $XX treatment of work of enabled the therapeutics class a sales diabetes, type of in billion

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treatment which the effects of novel peptides CBXXXX, for of demonstrated this have systemic mitochondrial for not broader the obesity, concept, but that important also development clinical under proof humans. of proposition of trial for is NASH Xa/Xb Phase program, and the With in just analogs we can

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investment patients. additional I'm in Turning to Mito+ and potential options lives towards we of physicians increasing our improve families platform are that identify to for valuable our the peptide with new of in to pipeline. result the dramatically significant treatment remainder report excited

our pay In And fact, expect of peptide scratch our our investment we we to library. we of in can leading in we discovery peptides only investment efforts will believe where this that have substantial the begun the advantages. in oncology potential our have the dividends to in our the bring Due programs. strategy, future, additional this surface to additional to pause identification decided indications of realignment further

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Nick Vlahakis

the with this joining Thanks, very be help the of good and novel promise to team mitochondrial of everyone. Joe, and peptides. CohBar afternoon, realizing portfolio I'm therapeutic excited

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under is operational believe of advantages. a While way current a CohBar had study previously protocol, X/Xa protocols a we separate discussed approach single Phase conducting more two carries a dedicated impacting this study study of clinical the having expect recruitment number forward overall to our efficient development an time without perspective, planned From line. move intensive By the X safety utilizing and Phase Phase I and generate data required to study. PK, will accelerated necessary a unit the tolerability from monitoring this that be we significantly enable

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of in in Phase the field work We build our we study as volunteers in IPF X toward to closely are Phase pulmonary X healthy our with and IPS. leaders continuing

As shortly Joe And return Joe. our stated, to the filing. Joe? after call I'll start Phase that, IND I study the will with

Joe Sarret

Jeff? Thanks, now through our Nick. financial Jeff to fourth CFO, to you like performance. I'd Biunno, ask quarter walk our

Jeff Biunno

in $X.X Research everyone, expenses a expenses, for you, Joe. $X.X to XXXX QX were us Total vendor million compared QX development of And approximately of to in afternoon. $X.X of decrease in and is you, as XXXX, development million approximately expenses period, credit included timing and a this in $XXX,XXX, Thank $XXX,XXX XXXX million. year approximately due research which thank decrease primarily million those clinical QX and compared costs a in trial which $X.X joining expenses. operating decrease $X.X million. preclinical were prior to The the was due the to lower of

were period. $X in though compared compensation was general higher stock-based prior G&A, and QX the primarily XXXX In expenses administrative to our increase costs. year million due terms $X.X An million in to of

expenses ended net loss $X.X and ended $X.XX million and December of per for quarter for a to share XXXX. reported quarter $XXX,XXX of XXXX, per or Net a XXXX, or share. compared loss December the diluted ended December of basic XX, For included the XXXX, ended quarter $XXX,XXX quarter million $X.X and XX, basic XX, $X.XX CohBar December diluted approximately non-cash loss the net for the XX,

non-cash the December to Excluding $X.X net compared for the XX, million was expenses, million CohBar's quarter as prior year loss the period. ended XXXX, $X.X for

As December million investments we solid in $XX.X XXXX. position in begin and XXXX, with we're as financial of XX, a cash

of the principal quarter market interest. difficult executed in bringing equity in backdrop amidst in to in approximately repaid and As to the the quarter totaling XXXX, last an financing note, promissory we biotechnology, previously of $XX proceeds gross a end, million. on the we company remaining Subsequent announced fourth $XXX,XXX

the outstanding As million. a XXXX, debt. XX, $X quarter have The was for result, no burn cash approximately currently December we ended

over back that estimate to We now into half second continue operations have I'll finance the to to And our Joe. capital things sufficient we Joe? turn XXXX.

Joe Sarret

Jeff. Thanks,

focus questions, Before reiterate to I'd our we areas your XXXX. key like for take

half IND of complete exploring that team for expect enable this to our in the exploratory move study. program this peptide XXXX, our shortly continuing filing. studies working define of study us the to action second proactively We with to probability our as that improvements analog to now of to the Phase IND and of further identify useful endpoints formulation in while we to are the also follow necessary subsequent CBXXXX-X, our the success as we his increase are file and biomarkers could into In clinic. to First, for be parallel, first-in-human Kent to relevant mechanism X file

of further the library promise show that to also increasing the peptides identify from to development. our extensive most peptide We the genome, efforts families those our are characterize mitochondrial for derived

the In will thorough addition be a peptides meaningful identify our value can commercial to scientific we provide where conducting data, opportunities analysis and to patients to physicians.

antifibrosis seeking year are we CBXXXX-X, the CBXXXX, platform for team. potential additional continue making for important Scientific their partners is that Directors our from this also In best believe for Amatruda, I'd our strong take was we CBXXXX guidance XXXX our move and to forward. gained Board to improvements thank while and of access We way an Board clinical to Barzilai confidence in who asset and opportunity to Mito+ since Advisory of we the significant preclinical company's transitioned data have CohBar. summary, concept our to Finally, our the where Cohen, proof founders like to to Dr. expertise.

our in to is we continued are thank achieve Kyle, open we Looking And for prior I future our shareholders line are can successes. questions? of essential you extremely like would support, both our future. for which advance to the focused their programs. an continue and the our ahead, to XXXX on goals and please component optimistic about execution

Operator

question your Kristen [Operator a Please Our proceed At we’ll conducting question-and-answer with Fitzgerald. from Kluska be Cantor this first with session. question. time, is Instructions]

Kristen Kluska

my everybody. afternoon, good Hi, questions. for taking Thanks

right is well companies I is that Specifically, understanding you're looking as to the around think you on broad that looking NASH for for what CBXXXX? drug are secure for considering one what space now, in do think had view regulatory the here larger pharma's partner you do space? First you these a as

Joe Sarret

the question. Yeah. Thanks, Kristen. appreciate I

the in been companies assets, there's new in represents. generalize development fits that companies objectives -- focused think of large slightly broader And terms the NASH. company doesn't been the to or one, the that out two, that have interested talking takes how usual I suspects that pipeline and each on and a broadly strategic been view view, hard of that are lot to NASH market of of pharma fit different because opportunity the sort space we've on continuing rest very their the it's companies portfolio. and a they pursue obviously, NASH types given to And opportunity; with that, how deeding either of of think a their So well for I

taking happens. the they to a that what space that companies, to there's number large wait-and-see definitely to of approach significant want there that have they that way are some and and a to the a at But believe it's companies continuing opportunity. sure evaluate So the think, are I are also see opportunity, a potential in very table participate seat they make that a

And stage a than so of at different some safety certainly at including either mechanism look sort doing. later-stage the want there. to with of given that is of different variety synergistic profile issues or your of They are what's what factors, development, the companies action, the they're looking other how of

a been NASH encouraged -- discussions assets. like companies lots it's undertaking. continuing evaluate complex them. with to think been And think of I we've in I been are we've I that that they But the assessment are said, So

happened, and additional them. on yeah, those complexity -- of regulatory first a is the working time of challenges least and terms in that tension, to I pharma So some and in think commercializing sort guess, of are the terms global a I does that -- there big and sort used looking about is ongoing I the sort at endpoints, at. create product some But regulators in kinds global between basis. think path, is the Approval this in the I way Europe U.S. that's think, thinking of of of through and

Kristen Kluska

some to develop and Okay. with Thanks. peptide work of the oncology. And in then additional Mito+ the also novel part deprioritize highlighted to of remarks then platform earlier your families plans prepared

that therapeutic number for conducted could considering So types across giving signaling preclinical of some areas you've relevant be effects different focused really you're on which work ask the a might is that maybe all of of frankly. metabolic here conditions, broadly I pathways

Joe Sarret

Great I leading that. use that since appreciate let to to charge. Kent Grindstaff, question. that opportunity Yeah. speak Dr. might he's I

Kent Grindstaff

to physiological of growing the we're these wide indications. in we specific the address scientific pipeline providing the programs of the the Obviously, you, literature proof we areas point these concept, we touched into provides at continue we've MOAs. information a well we'll fibrosis peptides use Thank as continues as feel further question. to around strong to of you, goal justification with research encouraged continued And this we're our platform. utility to development the scientific diversify to for our Thank those disease on Mito+ to the lines where novel you time. field, well significant the gain feel for and of a publications therapeutics. both the Yeah. Joe. advancing as these as obviously, the further treat in range or of that exploring novel And formats established body we utility potentially Kristen for also provide to MDPs. peptides And we as the And for diseases very expertise undisclosed be potential new gain hope rationale interrogate as with metabolism, this along importance use identify additional inflammation. data establishes But the feel peptide evidence by And this updates. on then But

interrogate before developing work we your in as expertise we're and additional also that updates have that again, leveraging the provide progresses. question? Does answer order So we'll that formats to

Kristen Kluska

this for you asset? a just example, effects And something for talk indications it's it also Yes, you But you diversify of the indications? kind maybe again. does. goes also kind Or more number last XXXX, preclinical of should of bit. pro-inflammatory thinking longer-term But Thanks really like in company. could about the a saw are how question effect the elsewhere? have that the diversifying potential and be about one assets to after. little of I within synergies And maybe think across all So we cytokines, going this assets collectively looking off unique one a do the you the have you're

Joe Sarret

Kristen Thanks, a Sure. well. question and that's as great

way XXXX thinking we by the very impressed in effects we that we've family it, have past, we're anti-inflammatory So that broad of discussed the been peptides. the the antifibrotic see about and with

is been to And with also that other we so models further parallel looking in have peptide. as we've look discussed, while XXXX-X IPF, our antifibrotic potential for initial at indication for indications

foundation discussed the so doing the then terms parameters and solid not informative we're would that just provide sort now peptide. into particular that the of all establishing getting and into of for IND-enabling X indications important And and in work IPF, helpful, work could clinic the the all around a them Phase Nick for study but moving be also additional for that

broad synergies additional and that. XXXX indications, peptide beyond is plan with potential plan to -- to these been other -- and families, features. these look families IPF have at do look currently indications and our sorts we and of in future at the peptide for fund looking continue We add-on that we're that's and when potential so with certainly we And do start then

Kristen Kluska

you. Thank

Joe Sarret

Thank you.

Operator

Raja Capital Our with question. proceed from question Brookline your Kumar next with is Please Markets.

Kumar Raja

that my taking to it kind With what for Thanks is work, in questions. formulation to nanoparticle front? or being done work Or regard the of based? additional more improvement is like related inhalation

Joe Sarret

Thanks, Kumar.

continue the therapeutics. So in about a really here not on peptide in to with the dosing. uncommon work as our is we're is prepared way allow subcutaneous seeing doing us an reactions, the formulation remarks, here, what in really we're improving feature which some skin local formulation But we would mentioned that

the if plan our there's we here our think which is there. comment sense to And maybe thinking peptide. you peptide want particular makes more, still maybe subcutaneously, So to the for on deliver this Nick,

Nick Vlahakis

the goal, to Phase I that's think broad that was regarding mentioned X. dose-ranging program is as I perfect Joe, setup for had to in subcutaneous. our IPF Yeah, a the right, The ultimate approach the able earlier, be have

manage carefully can this optimized the so characterize the our have like very in to of PK And range would to really formulation the we have as and broader X we Phase dosing likewise, safety changes able and for. X Phase so in study, ourselves IPF those give show the we're and we're to outcomes that lung hoping to function in that the broadly opportunity every

Kumar Raja

Okay. And formulation? be that store that already you used for mentioned guys the [ph] could product manufacturing scaled you've

Joe Sarret

we've planning scale-up material we that. subsequent work, to and can that That's correct. in That's Yeah, GMP done then some we're use all studies. already use

So we're manufacturing on process. confident the

Kumar Raja

you. Okay. thoughts evaluation any of that also and further on And would of about And Thank you what actions mechanism that? involve? talked

Joe Sarret

Sure.

bit So And I if relevant for a sort maybe about want MOA of to there? to then, with how Ken, want you think doing. I'll we're you start what ask IPF. But that Nick, is talk little Ken about maybe do follow to up

Kent Grindstaff

Yeah, that question. Thanks, Thanks, Kumar, the would Joe. for be great.

touched got involvement as some we've as aspects the readouts well data As we XXXX-X. fibrosis anti-inflammatory for in impressive obviously, both on,

been and in XXXX-X. well things announced looking cytokines Our where both focus ongoing the and on now as readout develop has focusing at right latter to vivo The use chemokines. we the really that can vitro feel that models -- really of is And in like we inflammatory fibrotic are effects to we as aspects activity, translatable both interrogate aspects. the for

backwards that you're type are models. in X there and for look and peptides. interrogate these as kind not expand, stable continue systems potential to MOA use our those for our of sure Nick demarkers and Kumar, that we'll cover also a identify [indiscernible] vitro but that walk to So the occur hopefully can and hopefully mentioned, activities to molecular this to of use I'm able of positive Phase be our familiar in studies, clinical classic with, interactions class we'll we only that

Nick Vlahakis

to made. Thanks couple of a Kent. build you that maybe points And on just

of couple things. I think a

and closely specific to also that generally lot a at or clear of number as where biomarkers. would the an leaders there world. biomarker biomarkers looking talking to and focus to relates with for of both the it I couple but be that's Kent As It’s IPF effect, fibrosis indicator lung, will PD, mechanism-related as through are think the take in be. markers of of both And a relevant a field the approaches in worked together that pharmacodynamic

that and understand nailing these not to think I markers. PD going is MOA to down the dependent really important program be it's on also absolutely

within of of on nintedanib vivo those. examples, and those know of been we still were that, around high-level success. room move I still that molecules think and drugs and moving pharmacodynamic on effects IPF, to that good a are There's findings lead occur in can improve clear. clarity pirfenidone markers not the based effective. forward have to least with where examples the MOA lot there's which and both not And the molecule But in

prerequisite shape. good Kent the a generally the into done, put to and we we IPF. can we that is get There's build momentum in is So the program with feel a good it really and work certainly to forward think not to But ultimately be for clinical program. together clinic

Kumar Raja

you much. Great. so Thank

Joe Sarret

Thanks, Kumar.

Operator

of will the the call reached And now question-and-answer Sarret have end We I Joe remarks. session. over to for turn the closing

Joe Sarret

conclude joining would the Kyle, progress Well, forward everyone, us you you our call? look conference continued please to year. this for throughout afternoon. the We thank you, updating on

Operator

may disconnect your your This concludes you Thank for And time. you this lines today's participation. at conference.

CohBar (CWBR) 30 Mar 222021 Q4 Earnings call transcript