FSTX - Earnings call transcript Q1 2021

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Operator

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the F-star Therapeutics, Inc, First Quarter 2021 Earnings Call and Corporate Update. 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.

conference recorded this replay. available reminder, a will and be for As would to for Investor introduce like F-star. Lindsey I to of you now Trickett, VP Relations Please go ahead.

Lindsey Trickett

is joining Good CFO. our March financial for With you XX, everyone. today announced CEO for pre-market quarter morning me Darlene Thank We today the Eliot results Deptula-Hicks, XXXX. Forster, and us. ending

You website at our Relations page can of access the press release on the Investor F-star.com.

of performance, that to that undue our quickly reliance statements could any a run risks, today, number SEC. through to forward-looking therefore from risks anticipated. forward-looking These constitute reflect circumstances on after as cautioned Before not a should making are Such get note part also of future be historical of strictly materially statements and over started, are let's to and actual will we F-star's not uncertainties arise Eliot. call These may this with hand differ and and are that events date me that results statements discussion forward-looking no forward-looking of let you that guarantees statements. management subject them. are to place obligation call. the statements. Investors statements the statements. in Please forward-looking those company detailed undertakes filings risks conference to or cause the include With the update that, uncertainties order The the not

Eliot Forster

The in with underwritten we've is momentum This what's XXXX I'll financial a from that position our to offering. successfully quarter update pleasure detail our here delivery earnings XXXX. tier everyone a the of again previously, group well months. our provide the Welcome of into ensures includes and in $XX laid half second first few million capitalized runway we investors year, top Through a very on of been out It's Lindsey. moment. during an future which the a milestones raised strengthened means call. an company public Thanks last to busy achievements continuing a and very

On In This view, our surge in data of FSXXX. clinical around its our Protecting earning In in comprehensive side, patent a that by bispecifics between validation we best and an additional assets in platform Nature. relation driven LAG-X portfolio during outlined the external checkpoint PD-LX bispecific. with continues we've on and the seen tetravalent way increasingly class Agonist SB trial. differentiated internal potential as LAG-X publication significant clinical make data a excitement in of our to pivotal be at confident inhibitor And expanded these of AACR. XXXXX, the to radiation that the rightfully FSXXX pathway period. relating CDXXX the finding synergy in immune is a pathway we We're next We an our highlighted STING reputation to a priority. is our oncology. further unique is the STING the article exciting we

options collaboration. to develop our KGaA positively. the partnerships in four continue of third Our ongoing exercise Merck

clinical hugely the This of FDA we've least Phase have DNLXXX continued course, from progress preliminary with Fast technology. portfolio for Therapeutics Fcab positive data, designation by And to Following granted syndrome. encouraging, exciting IX patients derived been Hunter assets. is Denali and F-star's Track for for not stage

two ability the conditionally signups, the immune bispecific technology. two remind activate the plus We're binding Moving platform and functionality to antibodies to simultaneously link cross are and cells to of F-star a me company when receptors Slide both targets immune X only with let the tumors, engaged. tetravalent only immune you cluster developing

we're binding to and protected number sites the a green the on of do This way of by this. our antibodies. a extensive that based add new see, only natural can it's the IP you antibody company small portfolio. is two changes. And with we And unique adopt blue As dark sites in can binding in make only bispecific

format makes F-star with of continues to monoclonal and Neil of to the natural easy we'll antibodies levels, the taken IgGX future. clinic. Finally, up manufacture Chief Officer, anti-drug the deliver bispecifics platform in good antibody in expert to have Brewis, more and stability, The with Scientific like be guidance our low the levels production projects forward

focused is with concept currently of proof recent by We believe in II an become incredibly patients Phase on and has PD-LX cancer, each neck cancer, to advanced who the to LAG-X take bispecific to these trial checkpoint potential stage be program for F-star to checkpoint showing very FSXXX advanced the CDXXX validated bispecific. we programs belief. oncology to targeting The seeing Medical a a X, efficacy Louis We're recently PD-X positive immune Slide have encouraged FSXXX by resistant on study pathway in in that for therapy. data. We and of Chief head has PD-LX is as antibodies Led four Here LAG-X and the in will patients of additional over advanced you I'd important are and The superior clinical LAG-X previous target transformative been Again next pipeline our late data Kayitalire. melanoma patients. LAG-X. and PD-LX remind with become supporting FSXXX, and like the forward in targeting most stage who opportunity look is believe Officer, monotherapy. our the clinical

can on provides believe data avidity As differentiated I tuned in others mentioned approach medicine. and effect. have specifically this earlier, become seen affinity were binding, demonstrated avoiding targets a year's best Those both how at what shared as of conditional We class AACR. FSXXXs FSXXX data hook

OXXX XXXX We'll program data started the this bispecific. with the properties system and triple clinical OXXX class initial immune for cross of and late we CDXXX year. Phase pharmacology causes targeting is is first tumor, trial FSXXX the in together of the program it targets in the immune and of The brings progressing. platform combined and which clustering coordinated a Uniquely, the linking activation our The later clinical This stimulatory conditional in activation. stage of study from term CDXXX. I FSXXX share third

FSXXX study inhibitor. XXXXX, significant with plan an clinical delivered could second to a potential XXXXX with It finally, be infusion We over for year. to first a data via this or SB also PD-X agonist. fourth and have share plans intravenous STING SB an We generation is asset on improvement STING F-star's combination approved programs. begin generation And later

Denali their recently of long Before third brain And in partnership. KGaA, and Merck Denali neuroscience mention I as Merck its Slide I collaborations space. barrier positive in standing really KGaA. to options X, with leave continues the and our to have we four mentioned, blood develop ongoing vehicles Therapeutics transport exercised valued Darmstadt, Germany want

Turning near and the to multiple value we're readouts Slide in the X, inflection points you anticipating term. data can see clinical

mentioned, study ongoing I of data with the this FSXXX. from Phase As and FSXXX, we'll data year, SB over share as I on as the course XXXXX well

data on FSXXX presenting anticipate and concept trial sharing course, we'll around year. also scientific be next upcoming We conferences, attending the data of where medical and this time of at share proof progress. we'll And our

beyond, our of incredibly with This I'm ahead years. strong, our two So the looking you with F-star and new give will to the hand paradigm this a Darlene? to us the day and shift success to support follow-on milestones to cancer. at and the patients Darlene for by an grateful financial team delivery investors journey power we're create outlook who're financing. company's our on day by to of life of pleased the the continue over the I'd first our also is over and next next like to thank quarter to And changing for on value I'll for who develop financials. shareholders. medicines create deliver now update existing

Darlene Deptula-Hicks

Eliot Great. good you, and everyone. Thank morning

quarter provides platform in collaboration with recent tier a and outlined. We're the busy has investors I'll programs clinic equity for financing which been a the the company's As end. March ended solid XXXX, strategy is financial XX, joined We'll now believe pleased work F-star results highlighted, go to Eliot have our partners. top and questions extremely four has just the it's to for with the that happy long-term through our us. very quarter. continues two Eliot the at take be now we first

ended KGaA Our year for for quarter the research compared March upfront was and quarter-over-quarter Revenue approximately milestone license XXXX payments million. from $X that quarter to of increase first to payments, first and/or typically prior our amounts includes revenue million relate as Merck XX, Denali amounts a with collaboration the comparative exercise services. development agreement option Revenue million consists of X.X Therapeutics. payments, collaboration in for X.X and and due revenue us to

due diluted $X.X development now, the the for expenses of million first in compensation and increased quarter. per increase public XXXX, compared the collaboration development to the $X.X first with or assumed of ended were expense. in Spring March QX the million lower Eliot million of X.X primarily million in G&A X.X for loss in compared clinic. stock revenue Net increase November. primarily and in non-cash first four of and or QX professional XXXX, This for QX expense, per services expense quarter G&A company R&D trial a primarily quarter to expense to $X.XX building the mentioned, based XXXX. quarter with associated This quarter option quarterly $X.XX basic third was agreement X.X This based R&D of the and being last and first XX, net of X.X in also to non-cash by quarter was agreement Bank to being manufacturing XXXX, compared million with million to were the and expense costs with increased XXXX million X.X basic the million in X.X X.X costs associated research stock exchange X.X loss and full year programs insurance share stock our 'XX expense. XXXX, costs, the comparable the prior for million expense, Total clinical compensation with for quarter expenses included first share due also Merck with included rent diluted revenue. fees leases KGaA a million research is Total based compensation first as was share, in exercising offset for due G&A increase XXXX. expenses

at million cash to to needs sheet, Spring totaled primarily included driven Bank balance million cash December company's ending was XXXX, by and quarter related XX, cash XX, March The the quarter, compared the the XX.X decrease XXXX. million during turning also XX.X items. but equivalents in for the some Now operational X.X

we quarter paid continue to Spring November of the During XXX,XXX will Bank severance through former employees. This severance this of year.

we adjustment had cash last we manufacturing at in XXXX, net Also approximately Spring the of items X.X these disbursements raw related the close November. also QX clinical fees. approximately quarter programs vendor the included the new Both clinic Bank with materials CRO entering settled transaction the for dispute merger setup pass, $XXX,XXX. QX totaling the million During two of costs, batch of in in and were

to report million year We or common after of are XX in that use we expenses. ATM stock million very to in program of at-the-market fees May, the balance strengthened this offering pleased April, closing the of successful in offering QX and netting our a sheet our XX.X public our early and equity considerably combined

healthcare continue of into analysts year and facility. to this current conversations projected now we these plans forward will and on the interest will Technology some that with as positive to to X well facility $XX our our be sufficient half covering in of person. investor continuing our million Horizon Eliot discussed entered by equivalents meetings During in we analysts and and hopefully I cash sentiment into community We time, have and We from Corp second operating conferences five in programs drawn that the Finance us platform. also a down look and with fund encouraged have be XXXX. debt million be this investor our believe the

So milestones. our in for position financial summary, of strengthened the our delivery cash runway future ensures

of XXXX operator, can We new I information to to and over tier we look have With you cancer. investors for sharing open and for a deliver questions. the and mission forward you thank the going patients up additional that forward. with joining with our top group call course of

Operator

Oppenheimer Instructions] & you. with first Singh question comes Thank [Operator from line Our the Company. of Hartaj

open. line go Your Please ahead. is

Jackie Yan

and for Hi, is our for Jackie this and financing securing Congrats thanks progress Yeah. taking additional the Yan on questions. all Hartaj.

for XXX could COVID from speaking, first timing that you Thank do? you any if last, route generally you. a So on dose now you upcoming have of which color, the you provide impact And I fatality then you here? are levels not if comment milestone is us right will really? on guess on as then XXX based seen you or just timings for just some get analysis the And well and could progress

Eliot Forster

very for the much questions. thanks Great,

of XXXX. dose well. in we the this dose year, about clearly make impacts. terms update, again, in expect we XXX continue FSXXX, some And But progress and first next the ascending So the been And half programs. at of think to haven't they're around trials we more levels the have release Phase going Ia in COVID-XX, I there time. to asked so give trial. data able to of we details ongoing with of finally, that those then disclosed timing first Both of be good those the FSXXX. With as will we very design, And those half of you also respect operational

of have given work UK. and is there. UK, only The those are clinical impact out a we've hard disclosed. as minimize you reflected five continue based those, just particular, from we hard lockdown, in we months we've research may in timings worked to operations And course, emerging any the know, minimize Of the to to impacts

Jackie Yan

maybe need a fast across Got Eliot unmet believe for second it, to particular thanks market the have which are discuss and to indications? you path pipeline aligned given programs question, then probably that for those the

Eliot Forster

FSXXX we're mean, the there. I excited and Yeah, about particularly possibility

with be we else proof response inhibitor. have So we have is concept of checkpoint data a as show palliation expect, of Fast course potential we'd FSXXX, program to of first the patients the to Track prior that chemotherapy. and as had program. difficult half a I mentioned emerging year, first in And These look in turn, with our certainly who nowhere with excited patients typically to a as call options for next or refractory

And route so possible that's certainly forward. a

way that, in in which its to I has first be we a in the designed best to addition adaptive study. therapy And FSXXX, believe is potential class as Phase program, In Track to see highly rapidly way market. then a activity us biological of development that accelerate with to we take Fast signals could in which begin into a we can in the clearly on

Jackie Yan

Yeah. Got as all on I very using molecule not I've molecule. and the super do was seems preclinical actually as question helpful your platform nice. antibody a efforts far surrogate last mean, just seen, mirroring it, surrogate can like

your that you. If that platform you just or could differentiate in great? in talk would enable aspect more be that how Thank aspect on

Eliot Forster

XX advantages our of is the human I maybe that mean, IgGX non-clinical I that published of the translate so and see, developing even in technology, within we've important a plug surrogate molecules his we And to a team from think it. we also affinity and it's and changes, that with utility the measure have such Yeah, platform years can one the the for And parallel. at format. you that data us play AACR, FSXXX of can measure develop human real is it's Neil in able is avidity have molecules. only a the we both to natural, early the signals few the of clinically course, as ability space as effective what And in changes well being tune spent into those

Jackie Yan

Yeah, our to and more great, for questions forward thanks update. look

Eliot Forster

a nice pleasure, speak It's you. to to

Operator

Thank Blair. you. Matt of question William the comes And next Phipps from line our with

ahead. line Your go Please open. is

Rob Andrew

data so hook the of at meeting you FSXXX everyone. at one vitro. as the comments seen for the in Phipps. heterodimeric morning, the appearing program, in here from I FSXXX think, least on was of the data pieces show Mark avoid effects nice Rob This the Yeah, Good for the prepared some is to kind antibodies, interesting Andrew AACR mentioned

the if vivo? the and efficacy We've of both are affinity higher affinity the run FSXXX little how one and of briefly development, over in seen some X-XBB. have kind have in mAb designer a But you've other the from this compared been other of the of terms more signups to then and from in kind good to the response that do around of programs in perspective. targets, relative terms some challenging for FSXXX we've you I the can affinities on formats how of your vivo, these PD-LX bit think safety are, - in affinity if the for a for of getting of the heterodimeric matter kind a that for PD-LX kind similar and high those X-XBB and just for compare of for design development, questions the PD-LX how clinical activation think both of T but avidity and cell and molecules of X-XBB the and more vivo compared monovalent kind is implications relies affinity, square binding I'm wondering be So dose helpful. might you will in And the what on perspective

Eliot Forster

very much, Great, thanks Rob.

talked in published we body those of this during publish domain. to about, clearly, certainly comparisons the the well, public So not just on we work that And year. will it's yet haven't course of you've on. And that have continue we a

avidity, affinity our So very to recall, with technology. heart respect versus this the the at as sits you of so may

and this for And to seeking certainly linking So avidity plays very into play with target that. much clustering plug really of the enables respect optimized the platform us receptors. it FSXXX molecules to cross and the pre-tune

in compared low molecules, might actually sort in with that to of is order to the that that binding, really have in microenvironment of other of modulated, we tumor a one the the avoid of setting pathway. CDXXX antagonist, of that what of the So in the not and terms in best the clinic PD-LX got class causes so PD-LX self-competition, similar binding blockade affinity course, in terms But relatively is PD-LX. component thing see constant if probably and we've that

signups, very PD-LX it across create got CDXXX those continue it's and so curve, the However, avidity, permanent recruit that those a when that up cells immune avidity, you high to that containing or response X-XBB look tick. of and continue enables us interactions protein-protein sign at and up blockade so dose immune

create that signups Sorry, order in immune apoptosis. to

other go we the are great as know, do have benefits first of that And molecules clinic believe this from checkpoint means some generation the the a for FSXXX in have the us can inhibitors, after who don't from patients in you clinic. of like example, the we is those So expression. PD-LX distinguish and who, of opportunity of low will patients

Rob Andrew

if the FSXXX of kind and thinking those results? a ask thinking Should just just means of programs, of to thinking of you for expect scientific Great XXXXX about the moment meteor a there? and of the or I - going then what's the be we updates at disseminating just kind it's PR could what's kind disclosure Or plan congress? the are more on

Eliot Forster

of a preference always have to scientific go we course, Yeah, to would conferences.

months However, as needs on one that lead timing, of is the not weeks, such time know, you if that. often

more the the I than during on it's So the ongoing study. will giving that press be of Phase the and way updates FSXXX course likely summer XXXXX of by releases,

Rob Andrew

for Great, questions. much thanks our very taking

Eliot Forster

Pleasure, nice to speak.

Operator

comes you. question a next H.C. with Wainwright. of Patrick Trucchio from our line Thank And

Your line is open. Please go ahead.

Patrick Trucchio

Hi, morning good good afternoon. and

Just the March in the up time antibody up in at a of minutes follow overall primary of on melanoma, evaluated trial anti-LAG-X survival that the endpoint progression announcement and trial free for follow survival. the RELATIVITY the

The was secondary ongoing. endpoint

So a I questions. have few

all LAG-X? FSXXX that PFS or the increased in mechanisms, think of secondly, understanding data other being also program? anticipate do in program the or FSXXX could in believe possible RELATIVITY And you how near antibodies advantages in from the combining Relativity targeting design, a then I'm and cetera? First, or And assuming the on wondering about OS from study are compared as LAG-X and have should can with done that to the mechanism is efficacy the clinical update safety the then over update was granular we discuss confidence remarks, noted more this we in And the advantages it bispecific and to read separately, additional provide through RELATIVITY expected. the development of et during is potential as approaches of differences above is the you what tolerability prepared term. two FSXXX should

Eliot Forster

Patrick. the hey, Yeah, for Thanks question.

data seeing think So data from patients and we I who along were forward from We BMSs, benefit delighted, level the the will obviously to look the the trial. with RELATIVITY of there high we hit. whole fact Obviously, sector endpoint domain. the as emerge public same only the the from everyone amount been have by else are encouraged that and the information primary in has

that remarks think by clear two, well. is is checkpoint our is to as the an believe, cross greatly. I benefits that tumor LAG-X link, that's patients two and what enzymic it's I becoming I having consequence, this of PD-LX that a activation way against a tumor that bispecific certainly, concept LAG-X. and indication we demonstrated With antibodies bring the some Phase LAG-X next particular really plus cluster, pathway as patients. those of year as and to And last proof get we immune immune shedding tetravalent LAG-X respect key, of you cells. important mechanistically in that certainly published in is can in those study, a would we the We looking obviously expression pointed II the microenvironment achieve that in is LAG-X driven And occurs my that from which LAG-X exhausted really if see and would in at the those And we're to shedding it's cells and ongoing in causing benefit. a an will the a is brought those mean, to SITC and microenvironment. about of two this in a and clearly bispecific versus out benefit expect of more data FSXXX

that that extent would like our Although which and think to and able not as with the to don't we a the we and do favor with bispecific won't which And that why consequence, it's bispecific. it obviously durability it combination the the able bispecific is of may match with with that that approach. depth they'll be combinations achieve we this, well bispecific anything case we achieve be don't the would think to mechanism be responses the the

Patrick Trucchio

helpful. that a a just any, model. mouse learnings And radiation I'm could discuss preclinical bit then from SB in detail And as in effective more that's work, the Ia/Ib monotherapy you applied if if more showed than with a on wondering it, study published is can the just Got either recently follow combination in XXXXX up to what piece development this trial however, and be in program? the the studies be conclusions from could Phase applied the or future ongoing

Eliot Forster

Yeah. Sure.

So study clearly, is Roche's as a so combination atezolizumab, antagonist. the both XXXXX with PD-LX and ongoing in mono therapy

at We as emerge course, the will, look year. rest the over of of data those they summer and this

XXXXX case so - think about setting. the that what can they future we and radiation was checkpoint Nature paper impact what the to the continue be the may of on and a development What see modalities activation STING is begin to in radiation important is to would And so explore STING of how the synergy by it who pathway, the pathway will we were pathways. enabled present And course, bring what between in we in together low we may see plans knows radiation, XXXXX begin fact to were in turn inhibition and see in that development further needs able tumor. a other changes that I do play. really pathway the XXXXX was -

And alongside the have XXXXX types. to. a of data guess, in predecessors as can were flexibility, because sitting tumor important I pathway around intravenous many be by the the greater much of indicates is route, STING course, potentially the STING certain than I what notably, pathway tumuli rather intra limited given think we is that what

Patrick Trucchio

the how F-star F-star Merck as if background program milestones give corporate or what if and with read there well, Denali. disclosed and what just programs and targets would just a for you they? advancing provide optioned has us some And been due secondly, wondering naming to to one any regarding KGaA including success DNLXXX Merck are you through Denali, us separately, then any so, And milestones remind three those have be if DNLXXX? that can can with Right if if I'm programs success F-star's and last in on any on and are one if announcements, the on on could targets? that

Eliot Forster

Yeah.

Darlene So delighted were is to a report as or mentioned in trigger Merck small options take have again, and we really that the one excited always milestone does now their her third four, payment. of

a economics progress adaptability disclosed, earlier bivalent few back to many through that, Denali. modified changes acid delighted in we are and targets programs. have Hunter region, obviously, with which of something give, an immune-oncology, SC at read we're respect to syndrome I the Denali excellent unfortunately, binding case The patients transporter the and flexibility not And for blood over don't really barrier Beyond been our obviously, plug is few partners, them. technology, and have brain just in mentioned who in amino options. and to disclose is question, thrilled the and play we've that for real all the got Denali, who With of the those again we're for years. And for other

through think now clinic some Denali, I technology. in gives and, the good So of confidence read through read species us being pharmacology course, as vivo into the And a progressing a way very of of course, in safety about man well. from the the the that's target long

Patrick Trucchio

very thank much. Terrific, you

Eliot Forster

to mate, Thanks nice to you. talk

Operator

question Thank our from line with the Li you. Ladenburg. comes of Wangzhi next And

open. ahead. Your Please is go line

Wangzhi Li

thanks taking question. Hi, my for

patient upcoming should could any titration where any for update the for you on single similarly, color upcoming data? update, safety dose any should or or be the the expect dose type helpful. possible activity, color trial? accelerated update, and on for upcoming data, PK provide or mostly for in you the upcoming single patient just data the And data of dose we data for FSXXX, information the will data XXXXX, PK one two, any what accelerated efficacy safety, then much. the expect potential And we cohorts how many Just Thank escalation level for tested are very

Eliot Forster

the for questions, again. thanks thanks to nice Wangzhi to you and Yeah, talk

if take me those the likely mind you that's appearance the order of Let data. because don't order reverse of in

So with so dose XXXXX, We in a study I second we the a on atezolizumab. Phase have overall ongoing, just design. as part the year gave monotherapy reminder, and at two last update SITC combination part an

also through So we're we're of that, there in right number couple exploring report the now. that And a avenues with so. biological what I market months we'll next if work set. But or is clearly of those it doing signals indicate to anticipate looking data with any also and to PK, the shan't data safety are see the XXXXX coming over that to we out

in know, safety which do we'll and - agonist. come than details we've them, different PK of and not that - from obviously, combination so rapid on. stagger as dual all and for progress and from will update a when with will a and dose triple looking and in and And PD-X for it really we with just we're immune years a for response order trial my the and in study done in to potent FSXXX, limiting remarks that the dose that to II. that I this we signs biological - I I tolerability in the respect be a typically is Phase oncology, give that to looking and to for you obviously a this perspective as years Phase of - we'll with slightly us dose those For then interested signals ultimately we're things giving couple which a trigger we'll updates we're move approach and certainly this the that toxicity What not tell trigger first a we're move, time in safety, But are that any level where we on some can give paste outputs. of that the you mentioned get in at activation and will tolerability of

Wangzhi Li

it. got Okay, Thanks Thanks. lot. a

Eliot Forster

Wangzhi. Thanks

Operator

Yale And comes Laidlaw a you. Thank question our & line from Company. Jen of with last

ahead. open. Your Please line is go

Yale Jen

thanks and taking for the morning, Good questions.

XXX. The first question is regarding

will strongly to the the of resistant the you about situations PD-X regarding patient, pass binding - even to expression recent the that to you will Given some the also have reporting XXX, create so a level the PD-LX be in by particularly before, to the potentially low. ability be strong XXX do safety have and

be to therapeutic produce two molecules to you'll able the So engage the effect.

Eliot Forster

speak with for and Yale, question. thanks to nice the Hey, you

for expressing LAG-X, an is key ratio to LAG-X And So for the different respect PD-LX exhausted look to expressing a LAG-X we've that actually and affinities through in our that a and the XXX the are pretty antagonist one cross coupling high in affinity. slightly cancer drive would got again immune linking that between tuning both cells sense we course cells. PD-LX with because of for

in will off. assessment. be So PD-LX PD-LX good of of study and But concept of out. have are cut an PDL-X what the driven picking see in got as the once will of to low quantitative course, purposes a where a ensured of get will those have expressing we affinity. we've that all quantitative we LAG-X that, kind question more relatively hypothetical of of we've terms And the tumors certainly where interesting be clearly, proof And high both able capability off be done And we've patients the that neck we it run head with The would to benefits. we positive. and those question, semi is study for ongoing of a in patients view is

Yale Jen

quick and ones. Okay, great, maybe very two helpful,

see one that are COVID you XXX situation recruitment in giving I patient in patient Europe, impacted current is or the some that that is Europe, further do particularly alleviation the has of exclusively assume, the situation recruitment? on First

Eliot Forster

Yes.

our an the clinic. is next say - phase functionally. into I IND. well And And second COVID. globally across wave recruiting. So early we're world leading And see. XXX sorry, bring also And operate have and active Spain, encouraged Spain, trial, for communication. unfortunately, guess by XXX for centers continued of we'll going to a just what are XXX in we the in very the oncology recruitment expand in the further likely but currently that of US is there very had under out Europe, would not development who fortunately, of It's we're I in but

Yale Jen

one, is Maybe question the which last Darlene. probably a housekeeping is for

In this significantly this quarters. to first terms compared of of the R&D or year of quarter prior the quarter increased expenses

a quarter quarter anticipate one for expenditure R&D upticks just we of be the basis and will so should the Or So the first that's year? remaining the thanks?

Darlene Deptula-Hicks

Yeah, thanks. Sure.

this normalized to slightly So kind think high, you more should maybe of about normalized. as but being I think

programs we have the continue quarter full four is and clinic this that we Now to will have forward. first that in the that going

So I as think of it would pretty forward. realistic going

Yale Jen

Okay, the for progresses. great. And thanks and congrats a lot other

Darlene Deptula-Hicks

thank Great, you.

Eliot Forster

to to nice talk you. Yale, Thanks

Operator

I Eliot further for back conference Thank would to remarks. over concludes you. to the session. like Forster any This And turn question-and-answer our

Eliot Forster

is our us for And thanks. and agree Great, joining grateful much, thanks everyone of our listed existing questions. the truly from hope our that who with and course to of patients And look I as quarters a professionals thank to first a and our again you progress unwavering we summer. had contribute will you you'll like momentum much. that strength company. the delivery the financial continue clinic the And very bring to transform we've I'd work to forward position with all four and the mission Well, will lives clinical updating for with with our medicines to In daily healthcare colleagues market patients productive dedication to and lab, particular that, the of and again, of in very cancer. new to show future who investors, ensures milestones. the to the trials. thank our F-star

Operator

concludes for This you Thank conference call. today's participating.

disconnect. Everyone day. great now a may have You

F-star Therapeutics (FSTX) 17 May 212021 Q1 Earnings call transcript