CANF - Earnings call transcript Q3 2020

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Operator

Greetings, and welcome to the Can-Fite BioPharma Third Quarter Results and Business Update Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] And as a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Paul Hoops of investor relations. sir. you, Thank

begin. You may

Paul Hoops

Can-Fite's ended and the good the thanks you, the everyone will as as the morning, third quarter joining quarter clinical we the At developments session. CEO, the for today’s call, Can-Fite Can-Fite's update Today, have pipeline. a end for call a XX, Farbstein. in latest Pnina XXXX XXXX, CFO, provide Fishman; Motti On well Thank financial and September conference company call. are will question-and-answer Dr. and advanced stage the company's of

results brief start with expectations, prospects. Harbor will among call business, and We of conference intentions product condition, may or forward-looking a other operations, Can-Fite's Safe about strategies its statement. risks market efforts, uncertainties, statements or This things, regarding, contain development beliefs financial

the historical variations be anticipate or should these may, actual from expressed forward-looking strictly use implied the uncertainties to could not by Can-Fite's can forward-looking intend, believe, that not do have other forward-looking or risks other as that differ words statements by identified relate or words to of expect, negatives of statements the statements occurred, such results Forward-looking subject that current fact or Because these plan, these to matters yet and are statements. cause relate any inherently matters. future materially statements results comparable words or or to their by the or

call turn to Please will with Pnina the ahead over that I overlay, Now, Pnina. go Dr. Fishman.

Pnina Fishman

call you and thank our Paul, all today. for in participating Thanks

arthritis of in conducted quarter, Phase third analysis and III rheumatoid we the psoriasis. During our interim studies an

data. results namely early by blinded our with the company IDMC follows: psoriasis recommended announced conducted IDMC’s October, study size plaque to were original moderate-to-severe recommendations Piclidenoson continue to analyses committees where IDMC that Comfort group one the the psoriasis. positive dose further has As two The The independent proceed posting In pleased III with Phase based and of been was very drop data that we this the treatment we in as recommended we we the trial data. IDMCs. the the in of monitoring sample on

versus efficacy earlier. primary is endpoints journal. study conducted growing drug based patient. regulatory study industry While A recommendations nine by cost majority we consider A presented today’s summarizing of Based because for we be a the safety dose Rheumatoid identified, analysis Oral graph royalties the different was with missed number more to of encouraging the demonstrated press through paid. and of that Piclidenoson superior the in value have and agreements believe of based Can-Fite, market, that proposition the of psoriasis showed Piclidenoson preferred this, study, associated published a release not Arthritis methotrexate. Both has study the drugs was the IDMC’s an is out-licensed being than on revenues continue recommended study The the on the although that benefit is among III study these Comfort interim are approval. been for data upon comparator data countries earlier psoriasis to date, blinded placebo, we its injectable payments and oral published the in this Rheumatoid costs highly detailed we now on we in which study. the can for Acrobat optimum the psoriasis previously the indication on effective are patients the to Piclidenoson’s XXXX data originally be We concluded include milestone believe that which Phase this our that efficacy planned. continue psoriasis factors in have and being to clear convenient a IDMC the and Arthritis unblended non-inferiority an in biologics. significantly

are more with the psoriasis, to NASH promising including on strong further receive the a the go-ahead and FDA the we liver of II were Piclidenoson, data and IRB’s both Piclidenoson putting clinical forward, news the Phase study programs for our COVID-XX. pleased on of focus we treatment Moving cancer. And in

some of with and developments presentation candidate American presenting enroll Diseases, the important NAFLD/NASH Guidelines. very U.S. was Association We Phase to to pandemic. first against the particularly Liver per will promising efficacy Safadi, expect XXXX of ‘Best will intellectual NASH to Treatment made was make Dr. supportive world’s Further receive the in data strengthening healthcare properties receive a scientists Patent Coronavirus scientific by who category. issued opinion NASH NASH hindsight are Office scientific for of Namodenoson for particularly good XX a as who very professionals oral our community of Principal the of reinforced as diseases, care, in the selected in and the The manifested we we it receptor, our believe communities. conference, patients will oral This the thee the adenosine Investigator concluded to of The treatment supportive our target treatment study Piclidenoson’s curing Namodenoson. of liver European had further in both Study level the evaluate The and of double the Namodenoson technology, before the safety. IP AX also the study enroll late-breaking compelling. study committed the blind XX the in favorable patent’s NIH patient Piclidenoson claims due at in Namodenoson’s as of year. of indicates portfolio, study Namodenoson accumulation, Can-Fite encouraged Dr. NASH. findings interest the organization the standard who care and fight At addition our brief in liver Namodenoson NASH. of II presenting the portfolio, under the for delivered the patients his platform presenting property late-breaking and treatment was The Rifaat presentation selected anti-inflammatory compared with sees and that this our fatty standard as patent fat combination in Meeting’ We that end business to our ectopic when being presentation for Safadi of Disease result very day promising the a leading is may conference COVID-XX use in AASLD a treatment in prestigious from impressive The of to placebo. include Liver reducing hospitalized randomized, moderate a patients drug AASLD in with

to derived compounds that active of target our and quarter, cannabis assay bind identify clinically a third to the this AX During we Receptor. the completed development cell-based activate Adenosine

we using financial also now to Motti, In development the a the addition call assay market compound-based I for Farbstein, of derived companies for turn results. over to a this ‘fee cannabis our worldwide. assay service’ own please. on cannabis to to CFO will our plan Motti in basis researchers other of the the and therapeutics, review

Motti Farbstein

ended and for million the for CKD Pharmaceuticals a development psoriasis. travel of to September Thank of months XXXX related received for XXXX compared in the liver expenses for ended primarily advance September The period the III for treatment for $X.XX in expenses was for associated million short-term $X.XX same $X.XX is expenses for compared of million Piclidenoson Can-Fite's the to loss period loss due the psoriasis. same as XX, ongoing million arthritis XXXX. and financial in million the $X.XX to in increase nine Wize comprised of compared which from treatment XXXX rheumatoid ended you, and the in same were nine well is net primarily and the for $X.XX Revenues of XXXX, ended administrative the investment to cancer, the Cipher rheumatoid of in XX, nine professional XXXX. Piclidenoson the Inc’s expenses. expenses Research Pharma in the Financial for mainly expenses ended net September studies the a agreements payments costs million to the the months The portion III expenses, for with for Research were same XXXX. decrease The Pharmaceuticals. increased accelerating with in same expenses, to $X.XX and months was treatment the rate XX, due in was arthritis distribution of development million lower XXXX offset was under decrease the Phase XXXX. were months XX, Gebro, and under $X.XX and September insurance for ended of nine September the services associated Phase increase net $X.XX decrease recognition compared September shares $X.XX NASH classified revaluation nine primarily due and of General XX, and of million is of nine period and patients period net XXXX. period revenue months of Phase million, studies the investment. the II studies by the which Pnina. the due expenses XX, $XX.XX the with of of The compared to benefits salaries, mainly Namodenoson for enrollment fair the value decrease is as with partially in for months XXXX million

in September in at As activities for received aggregate XX, XXXX cash offset June of an Q&A million. $X.XX public XXXX the March, in The over transaction a which million, operating issued XX, to call a partial XXXX is the to XXXX. July February net of as of XXXX, public January used cash net by proceeds in offering XXXX, XXXX, and months exercises exercise direct and through session. a compared February of was offering, the ended December $XX.XX equivalents and will in cash I cash $XX.XX turn million May had XXXX Paul Can-Fite warrants of and April increase to offering our warrant million now nine in in registered during September XX, $XX.XX due

Operator

comes question with first Our Please of Ameriprise. line question. your from with Instructions] [Operator Peter proceed the Levine

Peter Levine

study when or the And a Phase the when trial for Thank for do to Hi. do will like be you start Namodenoson? call. completed? I’d when you III think you feel know psoriasis will

Pnina Fishman

assume the done Good Peter. and in couple we Basically, regarding be are months. questions. will continue preparatory of doing enrollment psoriasis, enrollment a Thank that you, the works we to all

of As we already paid. been expenses mentioned is most – everything have the

it the will to enroll he we the go treatment. patient, ready will for are complete we last rate at and we So, will after

to that we the maximum months, like and ten the psoriasis study complete twelve data. it So to take may assume come up with will

key Regarding the leaders work who the couple next all a come which thinking of successful NASH, we those failed when with preparatory are we the been leaders opinion did and are the announcement clinical the doing work NASH with this unfortunately really few same and arena in now for the with Thank NASH and we an have which complete companies with will study. work will you. a up

Peter Levine

right. All

Operator

a [Operator comes your Martini with proceed next Please Instructions] from question line the Ralph private Our investor. question. [Ph], of

Unidentified Analyst

I just now Good like for Dr. terminating to know to had Yes. the a that. I you here. study what evening, few study, cost the Fishman. that know first, of I’d now RA With that the are questions regards total RA? was

Pnina Fishman

I will question our to CFO. Farbstein reserve Motti this

Motti Farbstein

between Yes. Ralph the question. in the were to $X million $X Thank you, analysis. interim for million The costs

Unidentified Analyst

very And patent Or you treatment know is approved I’d this? filing Europe. what in the in a in been – that your there like to thought you Thank Have I of on U.S.? for much. NASH one is considered Namodenoson know you’ve

Pnina Fishman

more the U.S. progress. include we we when Yes, make will will of course,

Of to company register the always of and liaise from work with in one drug included mentioned in order course, both EMA to in absolutely continents as parallel call, before clinical will III will each couple agencies of with times the the and one I the studies our be agencies. and and last the we drug will we also each of patients during the with register Phase FDA the

Unidentified Analyst

a What well. much. the you you you cannabis basis by maybe service elaborate And service derived lastly, fee very Thank development for fee mean Very do on on compounds? for basis? of the can for assay

Pnina Fishman

very across receptors, you it Thank this through question. does the came cannabis our for good acts very cannabis Okay. findings through Basically, not that interesting also work receptors. only much very Can-Fite

of We a with cannabis target efficacy at adenosine AX have patent receptor. the all came basically through which cover uses our up of looking

like the get one sample forth. inflammation, cannabis can be care can and so with sample we cancer, on, clinical the liver the ingredients sample lots of situations of in So the efficacious a or its if diseases, like like order of so

I what meant which unique cannabis is this developed can service. a efficacious. clinically for fee So, if tell derivative is cannabis assay We or very

I when mentioned I meant service. what fee is this for So

Unidentified Analyst

And positive part. is the put partnerships. Is that Maybe you team? Thank for How months that I investors there been many for you few Maybe share, going? well. you Very there? in has provided out your lastly, forward a light there presentations some know shed explaining plan want to you for have by feedback? last can

Pnina Fishman

Sure.

putting of efforts our First partnerships. in of all, order lot more team is create to

Can-Fite, never know, its drug. market you we As own

that very launched market. We profile drugs, be you good partners are has for CEO. and very our we a when tell do the looking unique as efficacy to more of I both will which cannot safety it

course, always dive but of it into I communicate, what will will our always any is forthcoming be Of you PRs. positive. can This data but not very in will hear I one

say. more said than I So, I could

Unidentified Analyst

the forward sign. best Thank I you hope you the and for thanks guys a very that’s much again update. for Dr. Fishman good and

Pnina Fishman

Thank very you Thank you. much.

Operator

time. the like I back over now at management for We would floor this have to further closing turn no to questions comments.

Pnina Fishman

of we patient in expect II year, COVID-XX enrollment commence By to our Thank end you. Phase the this study.

XXXX, to have also joining you, tend everyone initiate Phase intend and day. study. a the to good for NAFLD/NASH. next cancer a to in Bye-bye. initiate our liver continue ahead study today study II we psoriasis and in Phase Looking Thank III We us pivotal

Operator

and this conclude does teleconference. gentlemen, today's Ladies

Thank You this day. your may time. and disconnect a lines have participation at for you your wonderful

Can-Fite BioPharma (CANF) 30 Nov 202020 Q3 Earnings call transcript