ADAP - Earnings call transcript Q1 2021 | Adaptimmune Therapeutics plc

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Operator

Ladies and gentlemen, thank you for standing by and welcome to Q1 2021 Adaptimmune Earnings Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions] I will now like to hand the conference over to your speaker for today, Juli Miller.

You may begin.

Juli Miller

Good morning and welcome to Adaptimmune's conference call to discuss our first quarter 2021 financial results and business update. to from the this you our text ask statements forward-looking morning's would please full review of I press release. projections due including making could SEC. latest anticipate during and the call We actual filings differ with materially outlined to those factors, several in our this results Pipeline portion our Rawcliffe, of of this Officer with me Miller, our and call. Adrian are Karen for Executive SVP Chief Research the prepared available of for will Q&A. our members Other be management team Adrian With that, Rawcliffe. call to turn I'll the over Ad?

Adrian Rawcliffe

these with will platform for XX, from MRCLS. our everyone form in the basis with busy joining Kicking Thank later We'll will you TCR you Juli last SPEARHEAD-X May recently pipeline. in will will afami-cel. the from data data for At a our majority XX update thank be year's compare plan of or And patients or and from these you We're that motivated with SPEARHEAD-X had about patients last the on this the early summarizing of filing market. Karen completed available the HiT afami-cel to synovial be at treated options additional sarcoma. follow and the the synovial present When next presentation later May data least [indiscernible] will initial season these this registrational we independent one abstract, first cohort results. poster. people BLA with we the data enrollment We month afami-cel abstracts last up. the of point, in press here XX and to what months. our May full issue an us. We conference targeted preclinical Then cohort patients. incredibly Abstracts and sarcoma of potential the of was update week release XX of and to the SPEARHEAD-X at ASGCT year. of on a data cutter in of off us. oral the achieved of year ASCO to should HLA at with ASCO months Mesothelin bring will Data patient and received Miller a for XX the February, six the have year patients on in the we at can autoleucel living be which afami-cel our Dr. the The time will phase clearly not change on or be our afamitresgene first XX but May trial out for a data deep has a the came initial press and issue potential the about out data preclinical patients to treatment XX. these with product to this updated is people lives talk in vast all registrational more include release And

we'll trials our later this meaningful of in believe AFP. COVID and to the and recruitment generation Moving more did I will SPEAR QX of start. whole In present in XXXX. optimistic I'm and pressures from both been than a enroll throughout updates AFP as trials XXXX is the SURPASS that continue to able we in be targeting year. our QX, and good XXXX to treat lifted, targeting next our program on to off the MAGE-AX we've able T-cell patients

efficacy have products, lung, to focusing the MAGE-AX patients continue head signs and where indications namely targeted bladder of our trial with cancer. neck, gastroesophageal seen in on treat We SURPASS and we

the the indications a phase. to robust into we of QX, update data increased enrollment with fall late take the aim further Given during aim share in we've identifying seen to

liver with from data. our data for these program to people We in on We're identify based updated the September. plan to this steps ILCA also also next one trial for cancer present at phase planning ADP-AXAFP

since I been quality key has our of became speed One CEO commitment and of execution.

these we're with confirmed is equipped upcoming on into XXXX deliver our and data ambitions. we're what again to funded With doing. updates Financially, this

of realizing these relies component therapies mainstream are their cell number from don't meaning developing that people curative, critical with cancers cancer. Our ambitions on and a large reaching die people both of

us turn to exciting our I pipeline We Karen believe preclinical have research data Miller, Dr. about HiT talk who the Karen? emerging deep towards I'll these a from pipeline meaningfully more it that over will To goals. our leads team, move platform,

Karen Miller

Thanks Ad.

HiT or proof and Next we're data HiT TCR which work the the And to enables such from select strategy HLA anti-hematological concept think put HiTs without evaluate to week based first targeting minutes co-developed need done really HLA are we here. HiT against as candidate few going candidate take from our independent to ASGCT data Astellas being These I'd mesothelin, targets. about and platform patients tremendous first excited is perspective, us this testing additional opportunity present of , we've type. preclinical at like to with solid is cancers target platform. establishes a now to are there HiT a to though in this why a preclinical on explain with the

and laid depend leverages use many targeting out target data and therapies And has that disadvantages. we've that been proprietary cell lack opens targeted moieties protein to today T-cell found year. Ad the cancer antigens further with engage are antigens. comes cell updates HLA cell TCRs platform antigen. targets therapies. of cancer seen don't solid therapies advantage experience tumors And the all, to when Adaptimmune enabling It distinct unique advantages CARs whole success by have options clinic giving To-date us with they is meaningful basically vast are antibody therapies or is on often to on as for our presented There of target cell other as range TCR to for engineer optimization. to have each focused and in HLA. which and have receptor surface access a with engineering First technology processed throughout which cancer affinity the T-cells the TCR new by a us for our in we HiT us by of important TCR any or

limitation certain restricted antibody also large target of surface which HLA types. therapies our a expressed proteins with are broadly However, to an they great to therapies There's that use current hematological success been in is malignancies. CART-cell that cell are

important neutralized ASGCT surface been a limit next bound that need native with therapies to be I these is available. I limitations leading is signaling, or does known next for in killed say both a to candidate approach the antigen publicized CART-cell developed HiT does embargo vitro drawback, exciting. demonstrate advancements large the as expressing that to cancer of that May amount include independent can and the antibody naturally potentially come not such update many to TCRs, intracellular HLA. that until overcome mesothelin number proteins. overcome killing have the not mesothelin antibodies recently in However, the we need secreted At hematological in advantage challenges. mesothelin target, signaling Furthermore, especially demonstrates malignancies, as but TRUCKs. it are our there because the of can vivo. as what which targets we generation cells effective shown the engineered recognize machinery. the TCR will More under soluble and indications soluble however, full there But CART-cell of XX. have tonic is cells some mimic this cell One that week have cancer target of These and toxicities. that by protein data attempt are can't potential data The distinct to domains very signaling and which which can that these will coupling result the therapists, TRUCKs by at moieties been one have in of are tumor well expressing solid be this limitation is TCR relatively tumor CARS TCR’s includes of are discuss a and both using most it's It

We that has system in HiT comparative that TRUCK experimental advantages construct targeting also our a we house. over in show mesothelin our developed

with working HLAs and our platform. capabilities are new we targets, modalities, to allogeneic. expand broad HiT, cell therapy Beyond new

the progress rapid program on over to new the products look five turn of have pipeline. to All first And our against better accessible clinic arsenal and bring the Q&A. deep the and like operator cancer the HiT make of This people. preclinical to forward XXXX we rest further designed to made I more with for I'd to to pleased and are to that and these with ambition our this truly it the with by supports pipeline updates I'm our

Operator

with Cowen Frahm comes Thank Instructions] Our question Company. you. first from Marc [Operator and

Your line is open.

Marc Frahm

on for or the for all taking the and want my SURPASS. questions update progress. else fall line also on may turn to Ad Thanks congrats in the someone

You the do still of recently can exclusively types tumor think an of determine the program of specific increase the justify mark that to basket transition seen kind given expect that kind range you signal to of set program the you approach that won't from fully tumor you've enrollment able into finding development or advancement? update be it quite

Adrian Rawcliffe

information how congratulated indications That's want trying because and useful. we've that for you a be innovative been many not way that want ask patients that to giving to of don't whether we it's avoided

of that that's though the think, I one options.

breadth and the of we the more are out outcomes indications within and this obviously see therefore be we're consequential pointed activity we'll and information the you where have fall. couple think in treatment and development want I considering to we will program of what potential understand that for those spectrum the a

Marc Frahm

And Okay, [indiscernible] a your kind already Figured about? that even has and the HiT you kind CAR approach approach. be of to hybrid how also particularly guys on versus going there for traditional try. differences a kind are for on overview contrast can comments of maybe feeling out fair there's But then approach like enough. who thanks the for of between me a the competitor already I'd

Adrian Rawcliffe

constructs. to Yes. Absolutely. ask The our you're to TRUCK squares I’ll comment between referring Karen TCR on that difference and produce, presume I approach. the the

Karen Miller

Sure.

that's intent preclinical our square currently this how mesothelin in comparison, are wanted a was to TRUCK We in this our relative to TCR the emerging performs valid have data TRUCK in chosen moves well vivo. for test and clinic. clinical we for to as evaluation, as feeling positive HiT Vitro our from So do

alongside for data share from own XX. use vitro our And to May the the test vector it you that synthesize manufacturing And the then is and going to this and we on cell a we're process experiments in and so vivo. sequence TRUCK publicly mesothelin available with HiT obviously in the our where

the the the interaction mesothelin. tumor kind higher TCR aware And TRUCK. acts I'm TCR that than for and and affinity cleaved natural see part differences affects like for that a will HiT terms standard between in the tagged and ability and so, In the advantages reach whereas the a the antigens, forms of a of TCR TRUCK inhibit has and target of like CD-X your function. moiety binds that normal the to antibody TCR is here way to both actually HiT the you're migrate actually our TRUCK an a sure are TCR and bind soluble this of sink CART things of and long the signaling has to TRUCK their our normal this chain as we to

avidity inhibited of HiT lower not TCR for antigen their because a for So natural which and functional range cells same is affinity way. in the has it T-cells in are HiT high having

Marc Frahm

you. Thank great. Okay,

Adrian Rawcliffe

Thanks Marc.

Operator

Thank you.

with Our Fargo. the next from Abbott of Wells comes Nick line question

Your line is open.

Nick Abbott

everyone and questions. my morning taking good thanks for Hey

on patients. second from sarcoma the SPEARHEAD-X to XX increased added been and question synovial cohort XX a that First trial we the noticed trial to size has

So you cohort are what first the can about talk the the cohort? differences and second after

Adrian Rawcliffe

to Elliott's comment ask Elliot? that. I'll Certainly. on

Elliot Norry

safety Hi, was really primary have aid cohort of opened will subgroup in the and strengthen analysis question. to for the the the patient and Really will intent. thanks that efficacy That's two population. database

Nick Abbott

subgroups or are and you bit are might be? more on these what elaborate able Great to a little

Elliot Norry

specific broader smaller etc. And patients it at I at in that. be numbers differences that having in not analysis subgroup helps than a tumor can I of would Well, more fall look sure, am to database into just think size, age, looking of that typical specific provide details I subgroups. differences

Nick Abbott

affect just And guess component. the now, I timing not that to for overall Yeah. registration does this I confirm the want

Elliot Norry

and In introduce our delay. X the on it Cohort testing based shouldn't hypothesis be matter will

Nick Abbott

Okay.

Adrian Rawcliffe

group registration. that said that just we We the for of and there's dosed patient that and XXth will registration the basis patients hypothesis XX recently testing the provide and

optimistic is -- afami-cel I initial And data the do coming about show and up data and that available this with so initial and patients for later can the at that ASCO synovial what will sarcoma to analysis we're on year. present opportunity be And think to

Nick Abbott

that and following any further and has afami-cel? that on assist registration reminders that how for accelerating afami-cel these just and are considering timeline process to Maybe there and strategies approval prime you're and accelerate approval potentially other

Adrian Rawcliffe

Elliott?

Elliot Norry

Yes.

capabilities So both to both prior with accelerated of planning and increased purposes. associated those provide agencies access us review designations are for submission with with

So on just data designations, that efficacy. of just preliminary they promising based are mention those I Those are provided on of also, neither the sort the of rarity tumor. based will designations demonstrate

both they standpoint. that from us provide So with advantage

generally The and in prime and included already other [Armat] pathways accessibility capabilities. are the that you're describing options

designations. So there additional is seek need to really no

Nick Abbott

forward data Okay. Elliot. to I look Thanks week. next the update

Elliot Norry

providing to it. We looking are forward

Operator

Thank you.

the comes question Michael of from next Smith Our Guggenheim. with line

Your line is open.

Unidentified Analyst

Thanks Michael. our for Hey, for taking this Kelsey questions. is on

Adrian Rawcliffe

Kasey. Hi

Unidentified Analyst

Hey.

a upcoming that provide color much. sites preparing bit I on so eventually commercial what maybe of kind and maybe weren't online maybe entails patients guess Just to the to question get trial? kind Thanks kind get done needs in launch, could on building initial included that for you that the of reminders what those what of to for actually some treat

Adrian Rawcliffe

Patients last Sorry I'm not your fully got initial the trial? that I weren't included part in question. sure of the

Unidentified Analyst

Sorry.

I guess getting For weren't yeah, and exactly. them sites for included, launch online kind that just Thanks. of potential

Adrian Rawcliffe

Yes.

setting. then a comment important to ask ability I'll and actually maybe d is aspect on feel in So that is pick patients generally the we up I'll to one which particularly commercial service John

mostly of roles the facing at that So etc. team access, we've and lot our commercial a moment, market internally obviously marketing, includes begun building

externally forward more Looking externally roles interactions and etc. facing on on initiating the you'd expect planning we obviously, about discussions the are about were as thinking pricing,

that our are we as a process activities the I that successful activity And by services paying infusion on space? in of patients autologous that whole thing company all patient experience opportunity patient you as and through enhance the is to that to fully to others way the will companies. integrated therapy of follow cell attention our want also to lot the cell of up demarcation the from think do think and is a optimizing John touch I in thinking the identification the key space therapy a

John Lunger

we From the Adrian. trials supply of capacity chain we commercializing out we've thanks, our clinical facility to so. out Sure, capacity the running of be and perspective that will that a been have do

this this that a markets underway Ad's we'll feel very So the position with digitizing into for we're launching to in we sarcoma good serve about year. one fact be what already the next To last well point the free calling And think autologous journey were Ad's and is patient the fact resource systems in putting space place in that. knows is we before the as journey we of launch the is ready the one journey. on challenging with part will journey everyone important a patient treatment with, to from matter VXV, I starts to is of spent years and getting point, a execution which be that of really everybody infusion, were a couple vein the well of to of vein familiar patient part that focused patient thing this we're I to finally, think the is but [indiscernible]

to screen putting the the is particular and into we're place, of start of the cancer technology from identification therapy. So ability the in very which the processes process and to beginning this people,

Unidentified Analyst

Great, thanks so much.

forward the to Looking data.

Adrian Rawcliffe

Thanks Kasey.

Operator

you. Thank

the of Roth Capital. from line comes question next Our Butler with Tony

open. Your line is

Tony Butler

reason relationship you towards been, which would very discussion Thanks clinic. spend importantly, TCR a question I to I wondered this the cleavable into what next to minute steps The having program. wanted Karen, program about ask rapidly what question to importantly in if That's seeing did needed that you on of that could receptor idea of the the this would the and target the useful Astellas one construct longer just you're a one, therefore here an antibody to given you've you this I Is by Karen, really, of would to notion move us fairly and antigen just you've preclinically not the want just decision? for Did spent Thank Astellas time think Elliot, next directed epsilon much. then? give be just you morning the out that a with you. it program as Can Does HiT available make some being steps no advantage having a make be a TRUCK cells? decision? it soluble Adrian, some I stand if some bound sticking with have may. if therapeutic? that

Adrian Rawcliffe

the Helen next on comment the the actually I'm targeting. Astellas and can on the you a relationship ask CAR on this TCR of to advantages to Tony. Helen? then talk Thanks Karen, and with Astellas steps to going

Helen Tayton-Martin

thanks question. Yes. Thanks Ad. Tony the for And

Astellas This the in co-development with working quickly way is then of HiT to within are program right. we target advance the first and and absolutely them program You're possibly as of mesothelin on a with to the allergenic can it accelerate we de-risk work. as it all, very optimal our closely

say promising at can't this them working accelerate it more very on that about time we are based to actually in results that Karen's that but point rest closely Karen? any today. outlined we So the assured with

Karen Miller

be a about Okay better. or question if not answer protein a to whether non-cleavable TRUCK your would and targeted that

can is expression an can CD-X think receptor highly the antibody of we generally to which will TCRs products, we develop bound also the I actual of surface so on order high truly effective But be onchange that a same the of different of the optimize cell in to to very the through I the including in of say actual the compared. answer we portion which do is TCR with the think being a optimized is that is is TCR clinic. go optimization that products. day, to in a way process the is binding think TCR to affinity with of best and I being on course, not of to product and those the the are that moiety compare that I can a TRUCK HiTs easily, the that the depends I the them construct our affinity end we that is say what way What at need

Tony Butler

Karen thanks it. very appreciate Helen much.

Adrian Rawcliffe

Thanks Tony.

Operator

Thank you.

Jonathan Leerink. of from Our line SVB with next question comes the Chang

open. is line Your

Jonathan Chang

Thanks morning. my Good for taking questions.

First clarify I'm the the what that reading in I the that just full and something to of the footnote the question, heard XXth will data press And press the from the abstract. release the release just describe data or in is beginning I on want the release. describe press ASCO

Adrian Rawcliffe

release describe full the on press The the XXth will data. ASCO

Jonathan Chang

And, it. okay. Got

question, could update gen just at of next if investor the ahead SURPASS second ASMO. expectations I'm you The curious MAGE-AX set help

Adrian Rawcliffe

head that I of that think across expectations that it range have we the that we lung historically set data represent does that types that recruited although on will patient patients bladder, not, in that and will gastroesophageal, point not tumor and has precluded group. focus we've out been being is from a types the of focused tumor I have neck of and that

might that So it the that for understand able And will of agent in to types. tumor a the forward we we're start development that and that set those of have be that what breadth about is set or tumor activity seeing types for think individually the pathways going data we generally. to broad will be objective be

might be that out, which that as will gone said, have, point we're few and most say, coming recruiting those we well, QX, durability in as given it a set very has, time. to given I that of obviously not data that will data going you just expect, course over in out the the patients recruitment I'm months now the have you However,

Jonathan Chang

Got it. Thank you.

Adrian Rawcliffe

you. Thank

Operator

[Operator Mizuho. Instructions] the Our from Mara question you. comes line Thank of next Goldstein with

open. is line Your

Mara Goldstein

Thanks for question. Great. that taking

more of on to begin the program if forward of those data I'm size that us of the when what will SURPASS-X kind and and a at wondering and HiTs it looks Firstly give bit and can this enrollment clinical trial just the [two] we get I'm certainly initiate secondarily, scope program? about see the color and on more could look year, some appreciate you the you that advanced least on charted on given curious we'll pipeline that, that some program. the where think information little a and then program, when

Adrian Rawcliffe

Certainly. Thanks, Mara.

Mara Goldstein

Thank you.

Adrian Rawcliffe

SPREAHEAD-X to comment the I'm on Elliot on I'm to status So ask and program, status the Karen program going to then TIL comment ask the of the going of to Elliot.

Elliot Norry

first all, of you to want clarify Mara, So just said right? SURPASS-X

Mara Goldstein

Correct, correct?

Elliot Norry

SURPASS-X.

Sorry.

Elliot Norry

was I sure question. make answering to want I right the No.

Mara Goldstein

But info any happy I'm additional take you on as if well SPEARHEAD-X wanted. to

Elliot Norry

answer Of question. course. your Yes. respect, With I'll

cancers as the trial as protocol sort to account. you the data and when done of what potentially it with be treatment really trial haven't recent as the sarcoma for similar the the to into that with size respect a trial will types changes data So of the in It of the SURPASS-X specifics designed will those guided trial. and paradigm probably the to we regular be that It registrational with to that will respect in With take and account there approach updates pattern of approvals respect and combination will with taken to we've has, that for that we population. we've providing is unfolds. respect to population as SPEARHEAD-X cancer the to therapy patient see line esophagogastric recent follow we'll data first been out esophageal address won't trying junction and take we're into cancer that have some

Mara Goldstein

Okay, you. thank

Karen Miller

to going a TILS, And our well. on [indiscernible] I'm extremely answer is question happy with collaboration

TILS them with working in a melanoma. we're therapy for and patients As you experts they're next develop know, to generation with

Our is we'll first with a well giving product be on several IL-X. later year. updates is you in aggress product progressing that the This we've and chosen TIL to

Mara Goldstein

it. you. Thank Appreciate

Operator

queue. to I to back the call now closing for Rawcliffe over Adrian the you. turn remarks. questions Thank any will not showing further I'm in like

Adrian Rawcliffe

continued our in your for thank progress. and and interest Adaptimmune Thanks. And questions you, everyone your for

ASCO from our trial showcase of an today therapies. the our preclinical significant which first As shows most advanced which clinical then will a heading into ASGCT apparent and cell potential discussion period from the data are of updates data pivotal element the with pipeline we of beginning

ends to bring data make people insight to an on the We a Thanks to those pipeline. So therapies continuing get look again. you'll both great Have cell cancer. discussing and our of forward with progress day. to

Operator

this for and you gentlemen Thank your conference concludes Ladies call. participation. today's

disconnect. now may You

Adaptimmune Therapeutics (ADAP) 7 May 212021 Q1 Earnings call transcript