MTNB - Earnings call transcript Q1 2024 | Matinas BioPharma Holdings, Inc.

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Operator

Welcome, everyone, to the Matinas BioPharma First Quarter 2024 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to Jody Cain. Please go ahead.

Jody Cain

This is Jody Cain with LHA Investor Relations. Thank you for participating in today's call.

BioPharma Chief Jabbour, Financial Matinas and Executive from Kucinski, Keith Officer. me are Chief Jerry Officer; Joining Dr. Terri Matkovits, Chief Development Officer; and Dr. Terry available during Officer, will session. Medical Ferguson, the Chief question-and-answer be

call listeners expectations beliefs, projections. uncertainties. These and made I'd intentions, statements or that forward-looking risks to management's future remind during like this involve may are state hopes, remarks and

could based provisions differ and laws. These securities statements made are federal expectations pursuant Forward-looking current statements materially. to on are of actual BioPharma's the results safe harbor Matinas forward-looking

a undue statements. As should on reliance place result, not you any forward-looking

Biopharma are to content Some materially forward-looking of section that of of the files Commission. the the could the website law. available factors company's revise call discussed conference the date May documents Jerry events Securities are I'd those cause periodic X, call to accurate to by statements on this except of such in actual as or Matinas turn to by like the the sec.gov. results contains now no Matinas over Jabbour. Furthermore, that reflect information BioPharma Exchange circumstances, of as with differ Investors contemplated reports and broadcast, live update in Jerry? from only and any undertakes statements These required obligation And the is XXXX. the or to

Jerome Jabbour

Jody. Good joining for you, Thank afternoon, everyone, you and us. thank

for potential but to effective providing programs brief full safe with deadly invasive continues platform B, call key in oral demonstrate technology, long-term a held LNC a its today, which update and progress our of and MATXXXX, infections. often will of XXXX turnaround amphotericin year a from a be variety quick fungal our our Following starting relatively late treatment option March, on formulation with be we to in important our

toward ORALTO on and in process a one that interest or and of commercialization attention in partner seeing track. could remain the MATXXXX or III and advance securing and into provide MATXXXX come secure partners this options. feedback to Phase and Phase lot Our recognize deadly treatment interest there enthusiasm those of a KOLs and patients encouragement the infections, an development how is This to this trial limited goal more to these for no have III regimen part shared on and essential into for to very discussions by who advancing We disease investor fruition. become is and positive commercialization who physicians treatment infectious continue currently facing especially also

overall objective. strategy These our maximize who to asset, discussions MATXXXX continues sense or involve to development complex partners for stacking, and positioning. value be urgency of geographies and our share commercial commercial and territory manufacturing indication to more to negotiations life-changing from regulatory multiple this one on everything development commercialization in to Securing

of transaction a our consummating interest to need. best on positions focused is are company, We in and an stockholders become supports focus, solution in that for our our important strategic patients to the value brings MATXXXX

deadly highlights a to Our date, To our use invasive MATXXXX challenging the variety XX under eradicate build infections more the favorable additional outcomes in expanded severe even trial access as most aspergillosis. ill fungal enrolled This to including effectively outlook of circumstances, deemed of infections difficult in some to we and patients positive evaluation. confidence invasive treat the from in safely have with continues program ORALTO in see clinical potentially of in patients target our compassionate other of the as than infections, broadly ability as success program. evidence fungal patients mounting we oral extremely more MATXXXX well and

lung reduced a MATXXXX data with survival, MATXXXX in improvement fungal agents there demonstrated and compared pleased vivo were that treating placebo the manuscript in recently antimicrobial in prolonged in are study mucormycosis The enhanced treat brain with rates with published in in infection burden that We circumstances a data and supportive being disseminated to disease very fungal infection above with difficult neutropenia and the mucormycosis XX%. noteworthy Invasive mortality most involvement, for rate persistent hematogenously immunosuppressed severe in often mortality have mice. exceeds are with is infections chemotherapy. pulmonary XX%. And

forward treat Although preclinical nephrotoxicity. evidence global absence clinical were been the resolution used to trial it data, ORALTO grow, continues life-changing has already that Phase these to MATXXXX to body mucormycosis therapy clinical in a patients into the we of is with suffering from and MATXXXX successfully of year. multiple impressive later III look moving The this

LNC have other platform shifted towards programs. our With focus we MATXXXX discussions our partnering ongoing,

through We safety mechanism generated we LNC and of for see need a concerns. inefficient and/or play in where and role unmet to toxicity medical significant nonspecific animal delivery in oncology with opportunity treatments studies vivo unique action the data meaningful significant foundational have combination effective in from or suffering already and inflammation, the

docetaxel, We toxicities. have routinely tumors, intravenously that's our the management in used side various and continued agent, to metastatic chemotherapeutic formulation results LNC of a with unresectable well-known with well-recognized and highly effects of generate encouraging vivo from administered but in studies

LNCs no studies treating with than of less while docetaxel also therapeutic docetaxel and use patient docetaxel duration broaden the of to to improve deliver toxicity docetaxel Our IV to previously LNC extent IV comparable unresponsive the index ability could tumor scope an toxicity. The treatment. reducing oral directly with docetaxel, all outcomes indications in treatment that to tumors can of considered to improve of docetaxel longer shown potentially have IV volumes with and tumor cell

Japan carcinoma. Building cell docetaxel uptake capabilities. and off data, cellular tumor testing approved vitro hepatocellular successfully have strong also demonstrated the killing formulated insoluble an we LNC In miriplatin, in chemotherapeutic recently platinum for

this to this later vivo formulation are results assess quarter. expected with steps in the Next

tumor targets. of of our cell impact selection optimize focus platform to ongoing ultimate LNC antitumor uptake to More LNC enhance deliver cells. the work opportunities unique tumor with continue oncology surface on tumor and strategies, attributes believe orally certain We by that to with create dosing our preferential and phosphatidylserine preferential agents is optimizing of evaluating particular

updates half oncology the second our We in programs more this expect on have year. of to

Turning oligonucleotide program. our now to small

have successfully in We delivered models. small disease inflammatory active orally biologically oligonucleotides several

oligonucleotides the other to of cytokine with delivery targets. explore other continuing work We in for models additional cytokine inhibiting small are with animal inflammation

We this in expect additional the third quarter. work data from

Meeting Society the has lot a work as small been at of Cell oligonucleotides XXth here successfully data study separate the activity, with our highly in presentations Our from vivo encapsulating Ferguson, perhaps Officer, Therapies and X targeted our LNC for Annual ex small promising orally showcasing being uptake this biological generating week platform and our in the company Medical only in Chief in meaningful shared is and vivo, vitro Gene Dr. Terry American of interest. delivering of oligonucleotides delivery by

oligonucleotide In be Dr. at data in vitro USA presenting Chief and XXXX week Hui in Officer, addition, our Technology vivo next our Liu small ex from the TIDES programs Conference Boston. will new

disease, As LNC has we in to platform which been by look infectious delivery medical unmet to platform, validated of capitalize on unique significant see bright LNC clinically for continuing future MATXXXX our into in a areas need. we drug the applications expand

targeted these as data in oncology delivery and are a and early, technology. establish strategy orally While inflammation available LNC next-generation, our drug part preferred intracellular of to

financing us runway extended advance to we platform like second our last the MATXXXX and cash with turn that completed Before our our sheet month secure studies LNC work I'd strengthened into mention better Keith Kucinski, future. of the programs quarter to to call a I to we while positions balance XXXX, over that which

We grateful support. investors are new to their for Keith? our

Keith Kucinski

first with for you, reviewing $X.X the afternoon. the Genentech. financial million good we which In generated for revenue versus performance, and Thank no XXXX BioNTech Jerry, of first collaborations XXXX, from was and quarter research of our revenue reported our quarter of

and was lower $X.X of costs development for primarily costs attributable XXXX. to XXXX for clinical Total expenses, compared the million personnel decrease the million quarter administrative $X.X first first The of expenses and quarter expenses. were with

the quarter quarter loss with per net was XXXX per for a loss $X.XX which share. compares Our of of or was the net also for million, first $X.X million XXXX $X.XX of first share. $X.X This

as Cash, XXXX, million. XX, $X.X of were marketable securities equivalents cash March and

in subsequent second of registered to Based direct we current mentioned, XXXX. proceeds through current the of our financing. into the the of to planned on million a believe Jerry we sufficient are raised resources As close operations $XX gross cash quarter quarter, fund our April, projections,

that, turn Jerry. back the to call With I'll

Jerome Jabbour

In for manner in our objective our product from III discussions partnership advancing the Phase this are a MATXXXX, securing is multiple we summary, coordinated into important partner on key Keith. maximize commercialization company, in intently or value focused is paramount. a and Thanks, to right closer to partners territories

that yielded and infections clinical LNC the for we patient to supported oncology our strategy of on continue data a treatment and represent no with data X if and highly have experience paradigm in technology. limited to patients invasive initial the options. implications to addressing new in We treatment our promising delivery approved, who need the proprietary continue MATXXXX, about the or unmet of evolution medical of has focus as treatment inflammation expanding significant months The could capabilities unique KOL challenges by current fungal significant and over feedback the believe past platform learn and

activity of delivered are small ability companies transformative with The patients the to looking space and and demonstrated delivery big many potential be are could orally and and deliver our oral, less biological for be acids. for effects in chemotherapeutics would a step extrahepatic oligonucleotides targeted inflammation that for toxic therapeutic orally where forward nucleic

of LNCs of serves to in toward a for belief in goal external intracellular complex delivery reinforce creating we've of potential data therapeutics The the date the as candidates. internal to and therapeutic drug substantial our multiple the accumulated we work areas of portfolio

areas coming quarters. to review these We be discuss generated expect able the additional in in data to and

the Q&A. With operator to Joe? turn that the review, I'll now over for call

Operator

of Alliance comes our [Operator from question with Instructions] first Global Scott Henry Partners. line the And

Scott Henry

questions. A couple of

be the thinking mid-XXXX this perhaps even should the partnership First, timing? or about be a of update, regards thinking or event? XQ with is event How May should we we a month to about

Jerome Jabbour

a appreciate question, We've always your that QX for thanks story. Scott, guided and it's your we coverage.

pieces would that if opportunity. us if more you're that these that talking a But focused happens we're in sooner, about May, to on putting fashion be So maximize it great. allows together again,

goal, So bit is a within do too. is framework. that, make we're that it comfortable But everything aligned, without line up sure everything can still saying does we QX little it's to take the if with we'll imminent, to it and longer

ensure that, of on end Fisher Thermo the commercialize and move we or the XXXX we're to that conducted trial is this into partners that basis. ourselves partner want to product at Because to with transferred setting ORALTO either a global successfully that day, up manufacturing best to the

So QX is the goal.

Scott Henry

Perfect. it's It progress. making good sounds like

aspergillosis bit Second if data if have question, talk been how have there available? any, little how about patients are fared expanded and any program, with invasive regards you many access a to they can the patients within you that, have

Jerome Jabbour

We do.

Matkovits, do So Terri handle you question? that to want

Theresa Matkovits

happy to. be I'd Sure, Yes.

access successful expanded evaluated. aspergillosis. our So XX we in patients queue the are have in of X/X that with that of have could perspective, a And being have have course about those that completed say response. handful a program we the treatment enrolled invasive a of from timing positive currently are roughly that And had patients

being efficacy is in well So patients Jerry mucor that we're saw aspergillosis. our borne invasive seeing we crypto out as as in as that the patients mentioned, with our

Scott Henry

you to to Okay. with feel another position regards date timing the is expanded time? Or would that everything meeting? that the a the have expect you to with this do Great. take you at point meeting access then of would don't in program know the in Or is necessary? I if And into ORALTO FDA? trial,

Jerome Jabbour

benefits I think designing of FDA And fair one trial. that's Yes, the having spent ORALTO question. with in a of Scott, the year very

we with the agreement this Phase agreement design. year, that's FDA on earlier reached So when III

loaded. get to requirement to FDA to So there's We're back go for and start. locked permission to no us

around quarter year. And this to it's start CRO and things the so really fourth III in the our and securing goal, is partner Phase start for now And trial. that again, aligning to identifying the that of

aligned for puts as everything when to then track, that during remain we position we line to a say would with from goal. -- deal on get closed XXXX III Phase and in everything things us as keep perspective. time this That partnership like still start possible So soon as QX

XX always You bit with exclusivity, a a years of the sense urgency. of of at approval. MATXXXX -- from you have in there's about date at the the starts least when think looking which U.S., little opportunity But you're

regulatory of are to benefit they we of exclusivities. also times account. companies take these have a drugs, lot We, patent but the developing into So have expiries course, do, added of when

And yourself up when position everything so do that in approval, NDA put benefit of that you you want get and can is to runway. maximize that you the lined XX-year so

risk the to went to most III to take this years. companies we've and data. in starting FDA FDA the then on unlike over category, the try or unsuccessful this trial. -- sell X in lot of last FDA area and companies So And got we A and that agreement Phase be of X seen before

Where or FDA is script to done with in light we so see. oral to We partners that to when an on of come or that FDA what FDA value of the who have amphotericin told wanted us and you alignment a when deal MATXXXX companies product green sort time that that has everything spend back more see great the partners. go. was flipped want important for we The an have alignment. getting And oral complete

accelerate to FDA discussions. down and bit train that the agreement, key was a was slowed So of we sure make able got a composite little our being to

Scott Henry

QX levels the little of in then should ramp think as that QX half to second Final Okay. similar Is Spending QX that up. how a see perhaps question, about one. a look in trial it? gears Great. we and quick just should bit

Jerome Jabbour

mean pretty been I our going cash. Yes. consistent. spend. be thoughtful keeps here, thoughtful we've purse a strings tight been -- It's pretty pretty we've about Keith and the our to about

to of be and to have spend. our slow was selective better all the steps was to platform I -- the we allowing able studies for would once And It the use of company sort us raise we secured to with position about the be some want a taken MATXXXX. future million say opening the have floodgates. We of of not sudden $XX about

the the a studies expect that necessary that, because I spending ORALTO would essentially preclinical taking half up would the are wouldn't there think year with discussions is responsibility that and of in and that file partners will necessarily any continue. second for component ramp of I to key additional costs our NDA. negotiations

our from consistent around have R&D to pick the we'll But spend XXXX. up pretty somebody else for I that G&A see goal on evolves. us platform how the So would an and expect and centers that side cost the is

Operator

of And Harrison line Julian with the next question comes BTIG. the from

Rei Tan

is Rei This on Julian. for

Just from most with on And How ongoing a were there? preclinical of if file indications IND to an IND? from you your far questions are the the regard LNC to couple an away us efforts sense you platform. what make

Jerome Jabbour

I Great appreciate question and it.

side. on I would So characterize platform where are we the

candidate. candidate. be on triangulating a to decide in about data going order think quarters If we're I you're And few about from oncology. inflammation you when and/or We're be next, what's talking to few a sets think a to able a product product certainly months, even

anywhere a position have things. in able value have months. You need, want meet only unmet IND-enabling medical going sure to a XX you're partners that that's solve to That of after see then make lot And that number in. a yourselves candidate potential for can product an TPP that, studies you're take putting that's XX not to to to from a of but ideal to going

as happens internally in some to is That inflammation at would our these that filing and oncology in an we goal be things continue XXXX. triangulate IND So goal. our point sort of

for as simple conditions. IND on us. we're small an important be file. to to whether We differentiate we just more you're talking the ourselves, It's want There inflammatory It's targeting about as not oral delivery oligonucleotides. of able want

done a colitis. makes a at even more or of may than greater We IL-XX IL-XX We There We've we've that psoriasis. some present TNF cytokines different colitis GI done sort With the the already a information shown pathway TNF actually other are looking sense. alpha, target opportunity. -- cytokines be on of you're we've on that that. need think most alpha

that deliver others. chemotherapeutics tumor but over only In not oncology, certain that about could target cells we can it's we safely showing

or docetaxel effications it's able looked is taking that looked to want so what We've And not that continues not more we cancer done to at been started show tumor to it breast with targets and hasn't other melanoma. because of part efficacious it's making potentially about we've making We've triple-negative evolve. that about It's just be able safer. in it targeted. to a at cancer. docetaxel We and

today, align say, patients that it's or investors, value would everything us to product the creating we're what of to as later-stage IND we sit to XX important more for but candidate an a either terms so I in into probably XX filing, of months from to would So here trials. we're clinical partners who generates those to sort take

Operator

will call comments. for the you. Thank Jerry to Jabbour And with closing this the turn And session. I'll question-and-answer that, conclude back

Jerome Jabbour

Thanks, everyone in reporting Joe. during call conference in very look our evening. to optimistic to we and before. quarter August further and you remain us great about for and your you company's Matinas. for Thank forward second today our excited a joining Thank future, We have again, or progress and interest

Operator

This concludes conference. today's

the your time. of Enjoy You your may now lines this at day. disconnect rest

Matinas BioPharma (MTNB) 9 May 242024 Q1 Earnings call transcript