MTNB - Earnings call transcript Q2 2024 | Matinas BioPharma Holdings, Inc.

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Operator

Welcome to the Matinas BioPharma Second 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. in participating for you today's call. Thank

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

to call involve statements expectations I'd These or and remind this are remarks safe materially. risks differ future forward-looking management's the forward-looking made that to state of results pursuant actual are intentions, laws. that and provisions projections. made uncertainties, forward-looking like These could during expectations, based statements federal listeners may harbor hopes, beliefs, current on securities statements

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

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

to call now Jabbour. Jerry? Jerry And the like over to I'd turn

Jerome Jabbour

commercialize to We're licensing signed develop, Thank thank today's MATXXXX. and Good a us. the sheet for pleased by begin term rights of for Jody. reporting you, afternoon, to and we nonbinding everyone, call manufacture joining global that have you

indications. cover patients only toxic oral aspergillosis treatment to limited with antifungal or but future the formulation initial Our amphotericin of the partner of treatment dialogues all potent potentially this ongoing options, no with invasive indication yet not B constructive

identified territories. right partner We in have believe maximize MATXXXX's value we to the multiple

a positioning. and commercial have that We wide to very it regulatory quite but been top will range term significant has this that now a commercial are and been agreement, nonbinding and that strategy definitive progress. Partnering result covered and manufacturing we we've in no forward topics and this process. sheet, from by is is a guarantee taken Our priority, development discussions a in should have step this productive there life-changing our of asset encouraged state

We to a partnership path our agreement. In that as fungal the hands, demonstrated to have potential capable meantime, placing the possible the of registration In asset variety which this of best are soon Use challenging life-threatening highly following enable Access through to confidence and III build on interest even Preparations is clinical initiate in achieve we positive company critically-ill as in supporting to real-world our has are a ORALTO outcomes to evidence of our a do Phase with the in patients MATXXXX in Compassionate/Expanded its consummation Program. shareholders. ongoing and we program, to MATXXXX trial and continue safely. clinical continuously MATXXXX infections this so

have gained total variety These Since life-threatening under This fungal latest X June MATXXXX infections. serious XX to XX currently in program. XX with X access additional ranging from XX, last evaluation. patients our patients brings age afflicted on invasive to and oral to with update an this through a were patients additional public enrollment of

longer-term completed had positive patients, range are have a X to and treatment. were recently the the continuing Of treatment a with X just was The XX with patients and these other response full XX complete median ongoing receive by with treatment initiated improved. X Response was physician. time additional treatment course Use to X to dramatically for X of assessed treatment patients MATXXXX. all the Access in patients a date, treating effects, XX To XX Compassionate/Expanded have Program of weeks. weeks

As secondary condition the intolerant a unrelated during due underlying first of patients their fungal One GI to and week. now, unrelated MATXXXX X to discontinued both to other discontinued to terminal due program, infection. have this conditions; under only and the

deadly favorable It's given are a with infections, we and shown all trial. success treated, program confidence that have impact patients. profile highly a in no clinical value the Notably, variety highlight for surprise aspergillosis them seeking been and patients the by request bolster results. and or safety this III invasive increase clinical positive experiencing MATXXXX's are their dramatic patients of positive positive the in MATXXXX X of consistently being have in outcomes of invasive with in significant The physicians access of Phase ORALTO our fungal

Turning updates delivering in our uptake LNC increased drugs. small LNC and potential understanding cargo of This Recent platform. our both its delivery. with includes now cellular oncology to studies oligonucleotides and molecule small have

potential base nonspecific We also safety and treatments needs oncology are role and opportunity of or LNC the a our of believe and/or toxicity areas inflammation. inefficient there play action continue in to the with significant this the significant unmet build knowledge by with delivery for meaningful in to effective combination technology mechanism that plagued and We concerns.

of Regarding widely used our agent, chemotherapeutic docetaxel. LNC the formulation

have success models the of tumor with we've all inhibition in daily of demonstrated LNC-docetaxel. discussed on studies that in dosing past recent animal of breast, melanoma and lung growth varying prostate Following calls, oral cancer degrees

also docetaxel. loss. include We daily expanded but combination to oral in added degree inhibition greater weight demonstrated studies tumor IV with LNC-docetaxel have have studies These resulted even in in-vivo of our also an

further continuing of to to several improve index chemotherapeutic intended are widely the We this therapeutic used strategies agent. evaluate

the that LNC agent of effective toxicity only in loss, an intra-arterial capabilities. use, in killing tumor at In-vitro may it with in-vivo other a We especially the have agents. LNC which highly testing toxic to uptake the U.S. the higher for associated while begun evaluating approved demonstrated strong which also also inhibiting itself. our of capabilities outside of was with agent is More testing indicated was recent miriplatin cellular of of cell miriplatin, very tumor LNC formulation formulation oral platform relate doses, chemotherapeutic overall growth, the weight

to continue loss. the of causes this We potential evaluate weight

expression update potential previously platform of the preferential relationship relationship cells. tumor surface tumor between today's certain series uptake LNC cellular surface tumor Based announcement, between observed appears a in highlighted that phosphatidylserine LNC one, our these into not extent studies We the targeting. investigated driving recently PS in-vitro studies, the upon for our factor but be of the In and or cell we PS uptake. expression surface and to also completed PS of only

and LNC-delivered chemotherapeutics. is of Additional better to work the ongoing predict understand efficacy

successful less data of activity IL-XXA the Lastly, in studies from recent reviewing more LNC our small the parallel oral demonstrating and oligonucleotides different the targeting follow-up cytokines biological inflammation TNF following alpha, formulated encouraging have therapeutic in-vivo efficacy consistent. and inflammatory delivery, work vivo been X in findings in potential

there As product the the additional additional product but to to LNG prior a platform, better candidates. to potential optimization good work significant for progress such, able in time potential we candidate. Overall, required made and for identifying identify ahead has additional understanding is potential is believe been be us

We better position provide be additional expect in partnership. of to guidance to a consummation following a the MATXXXX

Kucinski. I'll our comments, CFO, Keith Keith? turn those the over call to With

Keith Kucinski

share. share net loss the for not compares The good second of reported loss during quarter Thank afternoon. the per $X.X This net Jerry, its second million revenue a XXXX. report XXXX, to quarter or for results of $X.XX and either reflected which company periods. of of any company a $X.XX financial $X.X per did these of million the Today, you, or

to compared and clinical was The XXXX. administrative costs development decrease the Total quarter for million year-over-year of for lower were XXXX expenses second due primarily million second the $X.X personnel $X.X with and expenses, costs quarter of expenses.

to months Turning X results. our

$XX.X also I'm XXXX We of $X.XX prior for the months June months -- no or X the months of reported per per Genentech. share. XX, with a research the for revenue net were XXXX XXXX. period, for collaborations revenue first loss X year loss BioNTech $XX.X compared generated for was net $X.XX from X with million sorry, compares share Our first million the which ended of X with the million, months and $X.X in This for

million as and were months expenses. the compared and first reflects as months of a for general expenses costs expenses well decline primarily This X administrative XXXX first XXXX. the R&D Total of million with decrease for $XX.X lower in $XX.X X

securities increase from direct offering registered XXXX, compared December as $XX.X Cash, of XXXX. more were with million cash through million marketable the April, operations reflects as XX, $XX flow This X-month million the cash offsetting a of raised negative June and in in XX, $XX.X equivalents period. than proceeds gross company's over

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

Jerome Jabbour

transaction real positive interest in closing, progress partnership will a believe MATXXXX company consummating the to In our best be we shareholders. that value with and bring in of we are our Keith. Thanks, reporting

goal the engaged remain a discussions We licensee possible. soon global constructive have with nonbinding prospective sheet as finalizing and signed with with as potential a in ongoing this transaction our term partner of

of recent ability continues invasive Program Access MATXXXX MATXXXX clinical request and target to effectively for of to increasing a in is the Use safely Compassionate/Expanded medical variety even access months. gaining program potentially and circumstances. fungal awareness severe challenging infections, the most Our the within This community deadly with highlight to eradicate significantly in

of X the label bringing IND in current and total evaluations enrollees infections all just potential patient position a at NDA fact, for In close result basket admittance discussions functioning of our should could like us additional yesterday, study expanded filing. of approvals. we fungal time the is essential emergency partner requests, program and/or and This received invasive us XX to support

continue for have expand how secured technology of steps base once and our forward best to LNC determine company. key this to remains return guidance our partnership, the We additional providing which as MATXXXX steps shareholders our focus with platform. the We're maximize to knowledge the we on we next evaluating next to look

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

Operator

Henry Scott Global Your first comes Instructions] Partners. question [Operator Alliance from with

Scott Henry

Just a couple of quick questions.

upfront as those specifics, reimbursement or ORALTO this term the on can't through be thinking speaking, components type key and one? of First, looking of news this give in you're for out sheet. the should about of kind agreement another trials? generally Are nonbinding payment but what you deal for an Obviously, we good well

Jerome Jabbour

appropriate how Matinas for commenting in we nonbinding area seen costs you're not intended structured of to payment, and clinical think just before, would it actually, transfer Fisher. be the combination to to here and question. And development at certainly some specifically what manufacturing, have manufacturer the going investors expect treat elements without royalties this outlined say definitive Scott, typically tech that sheet with see have development from I for potential agreement on of term but and do which Thermo thanks specifically, referencing and the it's would upfront of you a to to we milestones, additional commercial our an similar

a for discussed. but of of that is it's what but all of term a around been moving there's that. arms any their safe agreement It's get basis the as it's I lot framework this would sheet, intended that definitive the on to parts there, nonbinding global try deal, think some So meaning investors we a elements. those elements of to have with say I And combination include those a essential partner at think just arrive

Scott Henry

longer for little given expect you then in a And it's to than the should quarter Okay. ORALTO about a Or expected. taking trial we start Would partnership, perhaps fourth XXXX? of time line the think 'XX? early still

Jerome Jabbour

question. that these a Yes, I complexity speaks it's expected. fair appropriate any of of think think, I longer I it's taken, address us this of for the us And that to had dialogues. than to has sorts think And

I in alignment that speaks have CMC was you I big certainly, a look mean agreement has everyone definitive surprises. a it category to global those in is surprised complete that and how think also recent that of to issues, to boxes important no you if this pharma sure across in it are which the past, all a caused had this make the category checked. board after And arose by signed. was But

And And this a it's explained of bit I as been and is as process you does taken get time a do consummated. if around as much things a a has consummated position transaction that think quickly a has so anything transaction else, post it the as to longer. passage little started thorough. the surprises pretty why diligence once and think transaction partnership put in announcement possible and eliminates I is

In not we're terms sitting of our on laurels. timing,

are this to to you of, the time initiate year, dose. ready that product here sort So in probably in be done visit fourth of that CRO to do of team the in actively a XXXX, in that patient going need you're Phase any that scale, that's checked a for safer first can pieces and Scott, results can before III of a have in place. quarter but terms first to is boxes you first we start But XXXX. there It's first working put ready? study we not the have have steps a are number whether think global confidence And getting or sliding patient that trial, with a

But of sites this steps of of up, that account, how so are into not some a number sort end. losing is in to account, number to back the taking discussions on we've take sort the that make you're study the global the adjustments enrollment with there delay that of taken time set CRO into

it we are So we've in trial through can or initiate soon a to under this we the putting of of the but as an ourselves at NDA our and tried for possible. issue not as maximize as be can, initiate that partner filed ready be be III in we as for to can, position we eventually, commercialization and quickly that get soon only addressing of proactive also so product the the as end time have sort to day, so as Phase trial the sort

still study. is take We to project this in that about XX enrollment months going

have working too hard impact doesn't of make we're things on to little back that lined much calendar bit, end. Yes, has the an up. the slid but So a have sure

Scott Henry

the times Final I Obviously, an we're thing, you regards that Great. less think LNC the interpret would a it a in seeing? lack thriving? there you Okay. that. typically how on related? you oncology but good should to How so question. just we think -- a couple oncology Would in of molecule weight curious, additional the trial. indications, interpret loss of it's how With would platform Or is saw

Jerome Jabbour

you to and Yes. the And And time, interesting to I a -- trying at early-stage particularly mean of that this activity and therapeutic great would drive it's of biological right? part this and oligonucleotide. activity is development, like -- Scott, biological the Because more challenging show question. the drug you're and is sort have efficacy, same apply

about what LNC-docetaxel, But dose if is talking doing some the cranking we're we're of for really high. example,

could we therapy some when And And -- also so But think, the an been could have sorts giving can in remember, how about you're in this IV. when oral of degree, loss. have therapy animals is that's some to docetaxel, given eat, which which issues, be you all contributing animal loss. traditionally we that, or you're talking the weight think gavage ramifications of on could to explain oral weight these studies, feed

to to but in response case why doses. there, docetaxel, that's dose therapeutic that's only for of sort even the split is the And able begun as increase dose of we're index, as looking can into so see even to And and to which ways optimize not be and positive. much give that the we've X formulation we a

drawing the characteristics agent, miriplatin, many with too It's dealing When much altogether. create you without different sometimes side But work loss LNC. in ongoing look at additional cargo -- animal some that, because to think you're would of the internally, miriplatin, toxicity case different to highly is, the we're saw a of that still more toxic case. of we lot a attribute high more of the the we miriplatin doing I weight of in different In verify and agent. is the a the fact, conclusions work

in that we're dose want splitting do just tumor that end to sometimes. lower stages, availability cranking can what still dose at sometimes, toxicity. targeting you're oral can that is you're encapsulate and the we're early optimizing, we whatever we agent we targeting the of the And to these way the a chemotherapeutic have be And able day, you're that in specific create

weight in team context, at hard and loss. But agent-specific working not the some surprising platform. it's And of you're miriplatin, understand those. that think case to not going related better least is the to to see So in we it's the

Operator

Jason from comes question Maxim next with Group. Your McCarthy

Joanne Lee

the the time design you was Lee on elements as Joanne milestone ORALTO. launch non-inferiority could But the some the the a study? of just the McCarthy. on congratulations question just achieved, is key And remind III follow-up, Jason with line for the of This anticipated and for on us for call recent upcoming measures securing on partnership My objective answered. Phase

Jerome Jabbour

for don't -- when yet. we definitive over question. party, make going it the very the an champagne. But to achieved questions I that milestone we'll talk this we're is progress those and single to really to I'm say that soon Matkovits achieved thanks we're to drops. working have very But all Dr. much soon for our we deliver are up consider would narrowing toward of milestone program down that have We wouldn't about We say the to Joanne, have to want don't we quite of that as agreement. important that Sure. and secured with do have that we but as it -- the we the can, And think working a success the not that we'll might Obviously, progress. design, any turn pass them that's definitive baton. proud when we're pop hard answered agreement. sure to as milestone, a as setting I

So I be just that. to want about fair

But you number ORALTO design element up we're what and a key looks going points? just primary why remind against of the and Terri, of the patients, second, for what's secondary like, everyone what end study don't that

Theresa Matkovits

Thanks, Sure. Joanne, the for question.

down ORALTO to of the targeting are So is a to XX IV assessing with MATXXXX weeks. out to a X-day remind trial after a X-arm step trial, efficacy the trial, everyone, treatment MATXXXX non-inferiority we where ampho

no will treatment aspergillosis trial have options. this invasive And be other non-inferiority with who targeting patients

preclude that ability azole. toxicity to class, being from a have a an or them with they of interaction azole drug-drug the significant treated have tolerance either they of clinical lack So some or the

long IV able an to will primary weeks. where with treatment patients arm receive the endpoint as of as tolerate amphotericin X for the are So the at mortality be liposomal arm comparator will

key Now to of IV-administered with the any secondary ampho. the we've trial added ability that because one sequelae of believe MATXXXX we some that key term see the receive longer you the of is without to endpoints the attributes safety drug

IV proportion end at treatment the be to secondary And of you switch changes, superiority. arm safety, XX-week patients key for done a comparing the in dose comparator would reduction and So from whether toxicity-related endpoint. holiday if will drug dosing ampho will, at that regimen, have amphotericin of testing point another looking and test be those that who the be or IV to from

at treatment. looking global to be response also We'll

at importantly, early oral of response mycological weeks. and the So clinical, outpatient higher impact of a in radiological have XX resources the the care of at lower at quality value looking because ability use as to a as possible to And where also to proposition patients transition addition setting pharmacoeconomic looking is and the the life. health benefit safety MATXXXX, they

quickly And course ongoing we're mortality we'll endpoint. so care tracking compassionate seeing they're to study, transitioned we're of be the our this And the course, the in of through program use patients switch home XX-week that very from IV amphotericin where MATXXXX. evaluating after are able to to throughout our oral

Joanne Lee

all Great. those details. Appreciate

updates the program. Looking forward on to more

Operator

At turn there Jabbour Jerry in this I'd call remarks. over time, to are further no any to like further back questions queue. the for

Jerome Jabbour

excited you about conference us call company's third quarter Thank again, and We interest to look you for Morgan, during our Thanks, our in have and optimistic thank in for November. forward a remain reporting nice and your evening. and today joining future and progress further very Matinas.

Operator

you Call. XXXX of Quarter Conference concludes Matinas your wonderful for BioPharma attending, have the a This and Thank Second day. rest

Matinas BioPharma (MTNB) 14 Aug 242024 Q2 Earnings call transcript