PIRS - Earnings call transcript Q2 2020 | Palvella Therapeutics, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings, and welcome to the Pieris Pharmaceuticals, Inc.

Second Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. to conference like host, to now Mr. would turn over the your I President Finance. Bures, of Tom Vice

Tom Bures

Good and corporate second quarter morning, for XXXX us everyone, conference thank you call and update. joining for our

Science, and have Head our On the who will provide of SVP who Chief pipeline. and corporate a Scientific Yoder, of our Development; President and on Kaufmann, and Head will outlook for Steve Shane update Hitto available call and Q&A. CEO, our Officer; Translational Olwill, we SVP today our be Ingmar Clinical Bruns,

You morning can page website released access the press www.pieris.com. on of release this at Relations the Investor our

results I’d begin, operations statements including to statements we and this risks preclinical of conference the that may related progress position, of partnerships events our timing like and Before from our future may comments actual trials involving made financial the during or our and statements. Pieris those accurate to are reflect such over presented of to our any The only differ might being the quarterly, caution or materially programs, Steve. regarding with clinical and Pieris, forward-looking today, filings contain uncertainties and call of and events results and future that forward-looking obligation circumstances. SEC, annual, call the to information Factors by in now our or differences current turn described is such undertakes reports. to cause no will as and operations expressed implied update including statements I

Steve Yoder

to call. for second earnings our thank Well, thank today you, quarter Tom, everyone for us you joining and XXXX

proteins bind abundant class that called which proprietary in have engineered are naturally body therapeutic to proteins molecules. and background Anticalin. generation and the human a on are brief various As we next lipocalins, developed transport Pieris, Anticalin are serve proteins of

more to begin with more moderate locally, are treatment treat formats engineerable over asthma. which as complex the typically we ability alpha of to drive doing inhaled our on and As antibodies, such offer update with biology can is advantages in treatment create options, or respiratory and severe to respiratory stable than disorders other in antagonist unique the desired PRS-XXX, IL-X that they are as smaller developing Anticalin brief proteins delivery lead a the for inhaled to AstraZeneca, receptor an like to I'd we are collaboration immuno-oncology. bispecific program,

expect clinical the the We Xa Xa the for design study Phase have fourth have continuing in this for the we the and Astra start of program all begin been Phase this quarter with data preparations of of will delivered to of year. relevant which trial, AstraZeneca

previously, mentioned initiated and As the study by will sponsored be run and AstraZeneca.

information trial closer As more with Astra aspects, we still disclose remaining finalize but about give working Xa we initiation. Phase time, to plan we additional design to study the trial design cannot to details this at are we get the as

As a co-commercialized options will have to study, co-develop States. reminder, United to completion following of subsequently in we the this PRS-XXX Xa and Phase

AstraZeneca continuing year. will the final includes AstraZeneca later work we already that initiated, and three programs four PRS-XXX, have programs with nominate to are this Alliance we and Our on anticipate beyond additional the program

our preclinical Turning rationale respiratory on pipeline, year. a later data and program disclosing this to would like proprietary one plans overall our our to for briefly for comment target of programs proprietary I strategic respiratory several

data disclose this related as originally meeting a the of COVID-XX year result delay, not medical for at that a later program we’re As expecting to envisioned.

and as our considering we that the excited options are previously have this of respiratory stage based on about later been remain guided we we we’ve pipeline program for other data However, early disclosure year, generating.

and now beginning to is microenvironment assets has a dose drug escalation toxicity X-XBB both study drug lead demonstrated results and with protein immuno-oncology objective unwanted our our IO a positive believe in was driver the a studies lead observed and HERX responses peripheral HERX PRS-XXX. atezolizumab I'd presented positive our antibody. this study investments a agonism in X-XBB/HERX tumors our designed last significant agreement made ability clinical and in we avoid targeting to We which bispecifics, escalation have alongside and both solid monotherapy data a This clinical In interim year, also respiratory achieving give of major with PRS-XXX, a comprising of vein, demonstrated we to action. franchise, respiratory candidate of Anticalin drive is targeting X-XBB an indicative from driven provided benefit supply studies, under fusion our PRS-XXX clinical Beyond a a update protein biomarker IO which as value while combination in X-XBB with like mechanism on dose tumor Roche. the

of be Medical presentation of on presenting or will comprehensive data for the oral Society studies for Oncology We these the virtual an data, totality European additional each at Congress next Based at the month. ESMO of positive a study in current later this we in standard proof-of-concept and cancer care, of line gastric PRS-XXX the of initiate to treatment with year. X HERX plan second of Phase paclitaxel ramucirumab combination the

of the standard well Lilly and collaborate FDA or for supply for in prepare this of safety of signing of announced efficacy solid efficiently. multiple combining costs ramucirumab, Lilly's regimen trial, to cancer gastric with have to we this pleased are earlier study. explore as advanced allows to the ramucirumab, the alongside today approved to PRS-XXX clinical evaluate care into agreement, collaboration that line, us agreement while PRS-XXX types will managing antagonist HERX-positive Under the with this VEGFRX Eli potential metastatic entered for separately agreement terms in with data us the of actively we trial from Company second clinical on tumors, of trial. a and the The as merits a Lilly we As adding the paclitaxel

successful and agreed month, the on a the to design with a agency PRS-XXX toxicology request of received X the last provided proof-of-concept study waive in meeting and we hold trial proposal on studies paclitaxel. planned reported X that with Phase on of input and our FDA pending which additional of response the to combination PRS-XXX compatibility placed to further written the clinical and C completion connection As an the drug, study response partial Phase the from of year. this in expect we start with testing in-use of ramucirumab Based Type still in this

X continue enrolled date new hold, that we for proof-of-concept treatment. enroll cannot partial the sufficient until X we believe receive will both studies Phase patients over And Phase RPXD we inform our for the to resolution data study cancer. the had Although to patients patients Phase X into gastric currently-enrolled studies XXX in generated of or HERX-positive from recommended

the is design far we the designed As plan as have input the we since the concerned, once in-use study receive FDA initiate feedback to sought and have from expected agency. study study, the on

PRS-XXX. working immuno-oncology the I to Turning progressing asset. agonism the Seattle further of announce that complementing to which responsible Genetics, after seen with also handed Pieris' the approach tumor-targeted bispecific immuno-oncology potential three programs program, advancement preclinical and collaboration, of up million achieved diligently our on the in leadership bispecifics, to the a in program with $X key milestone triggers and Genetics, for in am pleased we one over the Seattle Seattle one The program collaboration We’ve validates payment. is a for the Genetics funding and of costim achieved clinical who beyond further Alliance, encouraging PRS-XXX, programs data milestone is milestone a

we is we concludes work I we which to most later addressing the my our X-XBB/PD-LX observed challenges like hand a programs, now advanced undisclosed alliance, PRS-XXX, financial guide preclinical our anticipate an working progress everyone preclinical make these quarter and results. the Servier, and non-GLP for we second Beyond complete call you to to targets, to we we program the year. over a want through expect prepared this remarks. And last to IO second back to quarter. Tom within to together IND Servier through filing to scale and program, XXXX reported XXXX PRS-XXX, that would working with the as are which Also remind remain hand in stage committed This Servier of bispecific

Tom Bures

due share was the the personnel services, XXXX. was for costs for the ended partially facility. and ended move million increases March higher the $X XX, I expect R&D the June and G&A loss per by quarter. at the R&D the Hallbergmoos, an and cash quarter by along to primarily higher compared XXXX, compared travel-related ended XXXX. R&D you, XXXX ending well due to quarter. expenditures as net XX, in PRS-XXX, $XX.X with to quarter quarter XX, ended $XXX.X million Net for the Germany to to expenditures to These lower expense, decrease June costs non-core Thank XXXX the capital and and cash Genetics include These restrictions. compared quarter preclinical does ended million the facility increase ended a back ended increase The call and equivalents due in of million June quarter G&A and in COVIDXX new The million move expense, travel-related with cash, due $X.XX R&D the costs audit for XXXX. lower PRS-XXX, were lower in the to cash for IT lower over professional programs, operating $XX.X XXXX quarter $XX.X Seattle $XX.X and XX, Steve. equivalence everyone. or million legal and June offset for June and in June expenses XXXX, for expenditures Steve, The investments not the for on due new expenses to a were the restrictions. XX, XX, million a costs. of ended to the XX, IT expenses programs, due $X.X associated cash due XXXX, first XX, offset quarter to primarily move R&D and on per expenses turn for were COVID-XX the With morning third $X loss $X.XX partially that, was which $X.X million loss we expenses loss million decrease to other costs, again balance milestone, million the December to manufacturing to facility XX, a the receive Cash, The spend to allocated balance primarily good to in XX, quarter compared to facility June June facility investments decreases totaled one-time share XXXX. ended $XX.X or new was as personnel were of quarter allocated

Steve Yoder

us joining proud midst thank critical today. to global pandemic. this treatments, like the I our team Thank wonderful current even questions. now everyone on of to of And and for at to their are the Pieris patients we future and open for the our to Tom. for shareholders I'm whom unfaltering would you, call developing We dedication your call in you

Operator

Miller Our question [Operator line ISI. of from Instructions] comes with Jonathan first the Evercore

your with proceed question. may You

Jonathan Miller

Hey to for program. taking I'd with question. like start the guys. my Thanks XXX

For year we then saw be about do -- patients done? tell secondly, between dose the would data the ESMO, do that And from us lift those And can it presenting you you're that to new could you more when studies the a balance little compatibility partial anticipate on bit FDA data long cohorts? how hold? you take how at the for last point, versus high

Steve Yoder

Thanks, Jon. for on thanks the XXX. questions Thanks -- so

further preparation for I'll the I'll ramucirumab supply the Hitto. level question, of significant approach it for and be is the then around related it think things of which going high plan savings hand the I will enthusiastic validation a cost drug data for over then question a very that we on today, ramucirumab. we're with our over Lilly to of the announcement cut for to Overall, trial, the are brings clinical given according agreements it and Ingmar, think cost to the compatibility hand related take and first

So that's trajectory think positive, program. a on real we the

end incremental SITC it patients to So expect what additional on turn Ingmar on overall over study, clinical after we efficient. which from present, as we are overall, guidance we planned reiterating want Hitto as the as year. but positive at been guidance can be prudent that finalized, general XXXX. most with be the the to to mentioned, comment well I will FDA timelines we design additional And start that are and beyond have this receive we around trial we we to that, this very then that that, the as to benefit so can data enrolled patients on And talk both disclosed as by originally have essentially of is

present the of ESMO and to at data nature So combo? Ingmar, do to on of comment the want type for you both mono

Ingmar Bruns

Yes. Sure.

-- John. So, hi, yes

since specific will beyond we the the last the in call since So Steve or on characteristics additional which been have we're presented as data disclosure, top of will haven't disclosed year we there also call not disclosing there said, many set -- data last the we the atezolizumab already earnings ESMO. details full is are those how detail, in we But Day the disclosed R&D earnings in ESMO. as patients and at there disclosed be patients combination top will the enrolled disclose data numbers patients at that the including present line last on line November. additional about And any at actually patients

Steve Yoder

of want overall you about timelines do the envision and Hitto And Okay. talk with in study new terms the engagement to FDA? the

Hitto Kaufmann

closely the Steve currently, We’ve the in itself study its on Hitto. has exact is agency Sure. timing, of and already with design the study we yet. compatibility Hi. outlined, which don't working course know very is influencing then This this designing as

typical current of overall authority you say, study still us end assume two time the year. However, interactions would with this our allow assumptions that time could typical on PoC start, study, a to this of for such to by duration and

Jonathan Miller

very I'll hop in you Thank back much. the queue. Great.

Steve Yoder

Jon. Thanks,

Operator

my Our line comes next of Baird. question from R.W. the Kumar Madhu with

You your proceed with may question.

Madhu Kumar

Okay.

of So PD-X to expect cancer, of focus trial for clinical given PD-X you in a the are XXX, Phase combo is the path blockade, would kind the of trial how the it thinking absence use kind existing gastric to design reasonable the like that about on plans? of considering or X you continue the

Steve Yoder

-- hear, heard me. that’s mind repeating question for to I you your Do for correctly. I So, aspect thanks make that I it blockade? why a Madhu, the mind cut do question. you sure of want on off didn't It

Ingmar Bruns

hear didn't it I Yes. either.

Madhu Kumar

along the strategy the XXX? in given of to Just combo rely is cancer. blockade an checkpoint Does with understand what PD-X gastric the upon now, trial want for design it additional

Steve Yoder

Got it.

atezolizumab because we mentioned, we That's running about combination again data are Roche's as great Okay. antagonist. just we both in well the And at to PD-LX trial disclosing comprehensive ESMO. a a question a escalation monotherapy are for going be with as trials, month as are the study

studies, the lot a We on confirmed We're a which have we think clinical seen benefit both side, [technical And reminder PD-LX to difficulty]. intervention. have a as complete monotherapy out is, have, without remission we I mind. in of a the in monotherapy keep activity important seeing even mentioned, of

lot need I to the that a the the in there's second consider course, line path of tumors and approach with And generating [technical a the the to in and and adding of second unmet in escalation further of merit priority gastric a think future ramucirumab solid PRSXXX. broad paclitaxel atezo overall biology, in lot the we of we the and when is indication. prioritized benefit develop as spectrum with mindful further totality all the combination different of merit of trial behind aspects efficiency we're line a opportunity cancer. and we're of how indication compelling But There data of development, to a this for maybe certainly want difficulty] very other of we think explore partners. the potential registration of

of and if phase value a Ingmar biology And the on standard our even And is combination, Shane reinforce of aspects so efficient driver of synergy positive that briefly this time though overall believe blockade. the little a drug why permits, related talk not way is then can of everyone including a this of can about remind to PD-LX as good comes next or VEGFRX care such maybe from nature development. best adding we more attack question, of IO potentially, blockade, the top PD-X the detail that's

do on Shane, So, biology to the cut you translational want take aspect? first that

Shane Olwill

Sure. Sure. And thanks for the great question.

partners, of terms that -- Phase But the consideration really into most place a And our were Steve a context not trial. next things of said, are of lucky, line there. second components in to gastric, when when or look clinical combination number come a suits X dependent there So we appropriate approach. component lot there's for at our certainly we

As And mechanisms your Steve of chemo look of debulking with ramucirumab. to look things combine with other really you we the normalization action. to you non-redundant said, of certainly plus paclitaxel see components agent want the when that at vascular

likely know As in you the bring quite also ramucirumab other will benefits tumor terms of microenvironment. remodeling of

strong the When our So something we've it's for fundamentally interesting trial, capable impacts us. of the very, the a we very we of single power agent macrophages/monocyte on in also feel a driving compartment with is seen PRS-XXX monotherapy T-cell it's as that's very activity response. consider

allow real proliferation which of combine killing in agents, will a We the to cytotoxic T-cells, the -- with very, receptor, and a killing. combination. those driving an a open has tumor up -- normalization very driving T-cells go vascular very beds of potential the to of anti-VEGF So cytotoxic strong to a and it that of cause potent -- T-cells, a of the you be debulking feel it's it's

As really in sitting us. plus we're PRS-XXX another care, the real combo does on top is a PD-LX the potential not of current and session. Steve of standard X-XBB That is of take which nice away said, here for also things one our of

Madhu Kumar

briefly yes, go maybe no, ahead. -- And Okay.

Sorry.

Madhu Kumar

go please on. No,

Hitto Kaufmann

a same think wanted as response that recent also the obviously low Madhu, is first, it's dual for what to as reflected of add No, is I and to obviously Steve Type gastric very think And X tolerated bar where care, investigators, requests briefly hurdle, for already just the true we given already is of -- add reasons. to, And by to low the showed FDA the as for we well the to a mean, regulatory alluded drug. course, operational from received the the well aspect that's combination the Phase hurdle same patients, them already efficacious a cancers of the line standard where for we like why I feasibility, that in I C of second we setting our agent the regulatory protocol. synopsis single and for

Madhu Kumar

Okay.

specific So existing talks, of systemic you about blockade Like following you agonism top enough benefit general being X-XBB own, kind of from that, on of to checkpoint can parameters get where around clinical could -- you drug provides the do think seeing of think adding the speaks are do X-XBB data benefit? would you provide how if moves clinically kind your imagine or of PD-LX where its on on seems it's agonist kind do kind based it to could around. X-XBB -- what PD-X you’re there

Steve Yoder

And based talk as best fundamental on basic that checkpoints of level X-XBB. to think understandings Madhu. maybe Thanks, to biology costim between the PD-X answer the like high like I way maybe is our agonist and

specific at of not disclosed science, what over data maybe are checkpoint receiving be again, is you We both underpinned could looking think antagonism look basic non-redundant benefits what see the blockade by of SITC, able checkpoint the saw checkpoint a at that's mention remind both. what think understanding benefit patient we to I support X-XBB to agonism I Shane, like everyone very be data this beyond PD-X. why helpful brief this of doing. that where and patient but a going following And we to after the at blocker, advancement X-XBB do,

Shane Olwill

component safety Certainly. And just here. of huge is the cutting

that clinic. sorry, thus have you localize it's of activation them agonist antibody been to a to that's the We active was the So which far, into thus where the antibody as gone feel hepatotox, is that's approach agonists and avoiding going molecule any the our with the very you the tumor hold important of clinic much what the microenvironment. know, up, into seen

we the the And been And Steve in underlying approach has said, so most context when table is exciting over for checkpoint everything. that on biology, as a the and consider oncology decade. has inhibition come

T-cell that you of T-cells. it stronger drive a into checkpoints don’t, well, proliferator consider from a this a obviously killing. maybe costim what do something will it's cytotoxic stronger phenotypic is And certainly So that X-XBB When works. also a perspective,

of of perforins of serial a tumor by killer killer a cell and cell tumor it's So a and becomes basher like a other granzymes and secretion agents.

Another drive is cell component stem phenotype. biology ability to of a the X-XBB fundamental

cell studies, a has in what lot been a with you'd durability observed that this stem response So memory result a that in get of drive will a inhibitor. will checkpoint beyond phenotype, and X-XBB is preclinical of and a response

certainly other combination to own. really a or with with going strategies be there's will will play a in on makes said There their best make X-XBB inhibitor places certainly combining be certain So earlier, checkpoint sense. where I agonists as context And modalities where will sense. chemotherapy

that biology strategies. as So design to about a learn we're through for knowledge all in us, it's much position about And monotherapy, good therapy combo we're the future trials that to we X-XBB ensuring running. use in and up

Operator

Our next line comes … from of question the

Steve Yoder

Okay.

-- we think another I can sorry, go ahead. take

Operator

… Biren Amin with Jefferies.

your You question. may with proceed

Biren Amin

Yes. taking you’ve did for Phase work you subsequent year. data of Can presented the point? think I the guys. if you work any last additional you FeNO on the additional in what, my some on about Thanks dose And talk that end PRS-XXX. Hi were trends ranging Xb after saw -- just that in the evaluation the done questions. Maybe just terms

Steve Yoder

sufficient. I at that'll can Biren. take that be cut and maybe Hi, So. a

looking asthmatics. certainly a used towards X FeNO way, to considered as ultimately presentation. all the curve, PKPD, response doses say lot. the Phase had that cohorts understanding at response with know, we're a to effect looking we the can I align then work as the As until better at look inform and significantly overdoses reduced -- not of say most partnered to to at liberty you at dose dose lower the included disclosed a disclose ERS with been lower dose disclosed we publicly, at the Astra in even at which to them curve, very we ERS and dose of at we that, severe the it's drive busy year, yes, And can things is registration lowest what we a on moderate last efficient

data most year into the subsequent informing that conference Xa able finally with Phase we has Phase and nonetheless, that important Astra would not But when what in to have we the once in disclose something on my likely but design. expectation disclose a that We everyone format, to is what the is aligned thinking already would inform went next development and X be started.

So I'd stay say tuned.

We have those was be course, everything and of multiple cohorts inform will we committed. that and used to

We as manner, right at a data forum, to and more disclose that the are committed AstraZeneca the right would time suspect in I comprehensive the is next year.

Biren Amin

Got talk on you file you and PRS-XXX, it. manufacturing need scale you then which And complete, can aspects just what the about year? up to next the to allow IND

Steve Yoder

the Correct. happy very announced busy we been back data of earnings because that. call, Yes, And call. the to that before recent last just earnings do team's the the on since

IND doing months making happy we've great that had progress, reiterate about what inform comment level, X our So a to year. been guidance timelines say and team let is that's high towards Hitto and but to we've I'd then at the doing next an to on what

Hitto Kaufmann

Sure, to comment. Steve. Happy

I we think we've scale-up occurred issue. outlined of and was as part product in before related that issue communicated that before it manufacturing the

that, So is ahead back the of ultimately scale, us have now. to we to will which to go completely solve

back confident, this it early is but precise point point. a come at with are at We very to this timeline too

Biren Amin

questions. my taking for Thanks Right.

Steve Yoder

Thanks, Biren.

Operator

line the from Matt question Our Blair. next comes Phipps William with of

proceed may with question. You your

Matt Phipps

you this time advice have any last feedback meeting? requesting received to be think you a you on said FDA morning. in guys formal from my you had really or Good like taking clinical Thanks the I written questions. regard for the Hi. you planning hold, got are didn’t to a partial think meeting. With

include you considered treated trial? ESMO the have with the you remind usage will CDXX the Just then And kind of where wondering And of CDXX of that? any gastric the me, data patients. are in

Steve Yoder

Thanks, Matt. there. A points couple of different

the Pieris additional received the partial consistent So desire have compatibility the practice, on the telephone the which communicated with that initially And FDA of conversation which telephone FDA, that have respect a of we on hold the to a telephone written laboratory again, the was with with conducting basis letter and was Houston cited consistent of basis to with follow-up in conversation clinical the both study. contents since design we letter, follow-up we and to the FDA the have able sought our to together preferred formal ramucirumab are for and parallel, proof-of-concept study and and that come finalized have are waiting for vendor expecting timely conversation conduct now that the study, and we, feedback have seeking all working with be paclitaxel. as approval that have with and on in prepare been of

So question, there's hasn't To was can it left on, answered, I anything your if you that CDXX. been that in a address from minute. a think follow-up comment maybe

We envision subjects will to enroll did We the in continue a that not gastric cohort. that that be trial. of part

value our As and committed before, are based data we own do But Servier seeing B-cell to our proof-of-concept. X-XBB that monotherapy are a required franchise CDXX with or depletion the regimen Genetics. that we bispecifics we’ve mentioned on broadly with that And with believe is inform we not for could the on a of Seattle both from and -- we see understanding PKPD. the great in benefit trial, how gating

nonetheless are for proof-of-concept without that. high see data and to And so go from we in getting forward the obinutuzumab regimen value likely

data avail -- at doesn't the throughout we get more could are XXXX for out to ESMO, ESMO. a it's into we communicate that won't we that probably medical say be that investigators multiple and even whether think -- And get the of data important second half of to at communicate, that presentation. at meaningful want course, Specifically, enough disclosed I our really elements disclose those in year, to to and actually want ripe several fair aspects presentation other early ourselves conferences or to there have that of ESMO the

there wasn't ask maybe fill if see like? that Hitto there, if Ingmar are stop in me would let you addressed, details So any can and that there we or are more to thing

Matt Phipps

pretty one was broadly. population, study line cancer, question looking activity impressive KEYTRUDA there study, a a in gastric or line patients [technical showed it. a answers was second obviously is plus unrelated. I with that single And center not but difficulty] first cancer think follow-up patients the gastric HERX that Last still across published at LENVIMA

So tumor antibody a say does or I'd but receptor, other types also number VEGF a targets. across like of Avastin different activity something VEGF shown LENVIMA, now say target than has bit obviously little

I so was at And forward you cancer. gastric in small some considering as just move wondering LENVIMA see VEGF you or looking if and molecule that guys maybe receptor, other data

Steve Yoder

should be cover placed that. Well, translational to think the would Okay. aspect, I say, address Shane to I best

the immuno-oncology a Shane, benefit doing to of feel ramucirumab. free, component, biology, going you the the believe presents. with think that is feel nuances, you of talk -- the it on not any to want think that's because we're of if to going comfortable But vasculature opportunity really normalization because but I there anti-neogenesis also just I after, component about mentioned we're we regimen add the but a the and registration after we what

Shane Olwill

we Matt. as of -- could informative other any we and trials be any from immunomodulator. strategy from Hi, that or agent mechanism a what perspective trials keep ourselves an synergize coming And with Yes. There's support would certainly either rationale, anti-VEGF certainly that a way we're our make from see aware, us data clinical aware that's perspective. can

it's -- nice happen. in space that's been been the to So RCC that see and

perspective. ramucirumab combination with mechanistic PRS-XXX and the a said, a of our makes Steve feel of As from lot sense we paclitaxel asset

Some with of again, a see at agents. we real that as trials. feel for positive. that strategy we that partner what discussing. it translational you for the use inform beyond combination The the currently is agents. perspective for reasons see any certainly we intriguing. any clinical on we impact with positive these receptor nuances we're PRS-XXX, information a X my preclinical with good safety something role we part what a have We modeling -- VEGF a in target And you express of profile immune And as agent will can certainly, future it that there's a as X-XBB our cells to but effective a that when combine of do clinical is mechanistic of and can terms is ensuring that a it's that PRS-XXX look we such guess receptor from But be opportunities underlying

Matt Phipps

Shane. Thanks,

Operator

question-and-answer Yoder session. over Mr. the like of end for closing I the Steve to to reached would this remarks. have we gentlemen, turn and call Ladies back

Steve Yoder

attention thank of the We to forward on for updated to for want stay and thank you great day. Thank just your a for keeping you. today I Stay look you all and everyone our support have call. healthy, continued safe, again again of and Laura. Thanks, your joining progress, Pieris.

Operator

This concludes today’s conference.

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

Palvella Therapeutics (PVLA) 10 Aug 202020 Q2 Earnings call transcript