APTX - Earnings call transcript Q1 2020

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Operator

Hello, good afternoon and welcome to the Aptinyx First Quarter 2020 Financial Results Conference Call. At this time, all participants are on listen-only mode.

Following the formal remarks, we will open up the call for your questions. Please be advised the call is being recorded at the company’s request.

At this time, I’d like to turn the call over to Nick Smith, Senior Director of Corporate Development and Investor Relations at Aptinyx. proceed. please Nick,

Nick Smith

Good on operator. quarter and for thanks financial Thank conference morning, call us today’s operating first to joining and you, results. everyone discuss XXXX Aptinyx’s

describing is release Our recent results our on highlights press website. now financial available and

like Ram we company, Blair. research analysts on from from William H.C. Wainwright welcome who Before to two initiated recently I’d coverage Minter begin, Selvaraju the and Myles

Officer Today Chief President Ashish to glad have Executive review We’re financial and our our Officer Norbert Riedel, Khanna, and results. on and call. you business the Business call, in the by Chief will clinical Financial will our followed review who Chief both progress, Officer our

are the Officer Catherine Chief In addition, Senior our call. Andy the King, and Kidd, Q&A portion us with for Clinical of Vice Operating Development our President of

risks any are statements disclaim Reform I’d forward-looking include Private within call to everyone like of differ cause remind materially. Act during forward-looking XXXX, today uncertainties risk with Securities this conference results statements statements of Any company’s will and issued in financial made as to update Please SEC. of the involve the and subsequent disclaimer actual our we results forward-looking factors the forward-looking and and afternoon the Litigation that to meaning can in statements made the that this release see these the only filings statements. current which obligation

over Norbert. call It��s the now my to pleasure to turn

Norbert Riedel

and And health. join loved hope afternoon your good in on you and Nick appreciate safe today. taking are time you, We we all good ones us Thank you the our call everyone. to and

only research the so others at efforts been and length throughout during the by calls XX ago days like our discussed many pandemic. impacted As development have industry, COVID-XX our most we recent

in addition of safety operational the new employees. the we X with and that Phase suspension our personnel to have adjustments, studies, to involved pleased recent and and environments This team adjustments responsible the of and type very of have patient is studies patient the I made made. our temporary four importantly three our ensure ongoing of of progress In am the our conducting in with of necessary we health adaptability

with start post-traumatic disorder. NYX-XXX stress study exploratory in X of our Let's Phase

to study, have during able the patient enrollment pandemic. in pleased COVID-XX We’re continue of the to new been even this escalation

As you may NYX-XXX enrollment of approximately range evaluate across of effects of recall, symptoms a wide we’re people by patients XXX targeting experienced PTSD. the with to

with have on to and continuity our outbreak We follow-up. since made investigator we pandemic as patient the have virtual of accommodations necessary ensure basis, for certain closely and participant study the been working such site the sites in patients

the Of and recording protocol carefully study. from deviations the to in monitoring impact data any on from course, a original this the pandemic be any position have might we’re to assess

over enrollment continued of the weeks Accordingly, the by reporting our have now encouraged and really achieved enrollment in intend targets. we We’re XX% data coming we late and XXXX. in to anticipate complete

this partners very our has of especially of circumstance. terrific the light in I’m proud made, given team

commitment. site thankful for and to investigators the this and in their We’re study also patients persistence very

painful and which prior study validate pain our of these each neuropathy, NYX-XXXX clinical we in Phase initiated Phase is to in on to X in positive two Xb chronic in signals move X a diabetic Let's indications, Phase the indications development We observed that safety fibromyalgia. and peripheral efficacy studies.

the made both we in new temporarily to suspend of of in know, the enrollment As late these studies. ongoing patients you March decision

determine and continue CROs is closely to We maintain when with resume the and dialog very our situation to enrollment. appropriate sites to monitor it active

as the we so. to is data determine of you efficiently quality responsible these As do imagine, restarted get in it and and patient can we’re studies eager interest soon best to safety that as

data of future readouts these provide will guidance date. more timing resumption of the at and a anticipated on We studies the

patient let's for made posed by Due to to treatment Finally, impairment the with in as patients the this disease. cognitive of decision of enrollment new study suspend Parkinson's COVID-XX particular risk on we touch late to well. this population, March the NYX-XXX the associated in

excited cognitive the benefits results based to of potential non-human on very the NYX-XXX We’re patients evaluate in compelling in primates. very

more we’re the on focused on keenly patient study However, environment and that may imposed in this the safety recognize current delay be extensive.

on We timelines and a date. will provide at plans future our program for this updates

to with working safety and the top we’re necessary priorities through our being and quality. efficiently studies, to best data our enrollment when consideration determine Across how patient restart

patient The each posed by vary based factors population. specific considerations across the on the COVID-XX risk to studies

requirements most and indication We’re visits procedure and also evaluating what is each study. to determine study appropriate for

In specific operating vary the site type taking depending level, we’re site these consideration region that on our factors across conditions population, the into of vary addition to the and which at patient

and these the conduct affect how conditions each site may of study.

work necessary these the goals. us make to expected financial all has will of without our make enable these long-term proud forward decisions resume strong We very to I'm Overall, all our adjustments And continue attention our momentum the done across enables elements careful position enrollment to programs. to team our of strategic responsibly. to importantly, us compromising

will quarter call With our that, turn review now over the to first financial results. I to Ashish

Ashish Khanna

and cash our our efficiently the bolstered into from strong current a Thank XXXX readouts and you, fortunate us challenging programs. fund which from Norbert. company to deliver our net by and of our We brought have will to COVID-XX, January, running the support Despite operations in environment, we’re anticipate to $XX business million. in sheet to proceeds financing multiple balance impact we’re

in of with quarter to research the compared million For for to Allergan, contractual These compared $XXX $X.X the equivalents conclusion at for QX same this the come are to XXXX. expect $XX.X the first million numbers, its million XXXX. cash with million, to year. $X.X starting the in period to were sheet, ended agreement Revenues end our with quarter the which balance we we revenues related collaboration cash and first

to operations. fund our revenues these on reliant not we’re Importantly,

R&D spend research and strong on four for the of million clinical development. With in and our were the expenses focused first same quarter, expenses R&D the than the development million in for period XXXX. in a programs majority $XX.X was less $XX.X research slightly pipeline,

R&D expenses to $X.X suspension driven ramp G&A of the and to costs. our expect again first reported million related compared in million period of course periods of studies same a legal in quarter, for enrollment. a enrollment up of for to million We and decrease do $X.X expenses recommitment decrease primarily The decrease the had patent during XXXX. for We was the $X.X by clinical

turn net over to the Finally, the $XX.X period that, call Norbert. million our for of same for XXXX. With the first back quarter net $XX.X loss a to I'll million, loss compared was in

Norbert Riedel

Thanks, Ashish.

to appreciation enrolled workers up the gratitude and the express be the in the well would we as to call our the I with those site community are on safety express patients. the especially open in to clinical clinicians Before questions, and Coronavirus like to working of patients of for like also studies healthcare tirelessly our as who all those spread partners limit sincere frontline. our to to ensuring these I would to us assisting our

have clinical to we multiple in with with pandemic, across believe steps study faced our we’re challenges readouts data confident the undoubtedly we’re enable to cash the important certain and on mitigate clinical pipeline. we taken the related have COVID-XX can hand While

We will taking your begin be questions happy to now.

Operator

Ram from [Operator H.C. Wainwright. Selvaraju question from Instructions] Your first comes

line Your open. is

Ram Selvaraju

Can hear much you taking me? the for questions. very Thanks

Norbert Riedel

you Ram Yes, can we hear well.

Ram Selvaraju

of secondary to more little on all efficacy outcome measures you some in that if used little assuming first this consider of walk on little bit color around which off ones through just bit trial could effect clinically us are meaningful, maybe PTSD most to I a Okay, to and great. be additional wondering study, outlook. of information them. for an a by I see wanted you the bit being likely us start asking contextual you a give be the was

a So the using for to that of likely could but know PCLX, to you you are us and if and maybe you're important? the point ones others, most couple the example, be I think PSQI

Norbert Riedel

Ram to it's call. appreciate all, pleasure a on hear first the you I the well, question. of Okay,

as having at call on testing the as Nick well As the have well. benefit beginning, the we of educate mentioned as

what just your study, I'm of engage team to finding to development. for kick an what signal is exploratory further by you that here. So question said a very the kind going you see. is signals guides question reiterating I off therefore to looking And to it namely that PTSD as as alluded study the are I expect previously relevant and

that that. have kicked we bit by I a So to of at you of give sense little look off how Andy

Andy Kidd

interesting and Norbert a you It's quite thanks, think it's though, thanks an question. I difficult Ram. give to Yes, do

measure. limited and patients, in the prioritized any straightforward we've terms what estate like got study because the real endpoints very this, sites, list the practical to work it's to with of of efficacy

that endpoints include don't important. think critically we don't so are And we

we've different And so measures purpose. and all efficacy slightly safety of that serve the included

whether the as endpoint. the PCLX or mentioned, primary So you our which CAPS-X is

range whole in a endpoints there's PSQI of The there. different

I the think logical across is we That we're is that for is looking perhaps little we would different the look at pattern measuring, drug. look a response way different, the we're a sense. what as that which things of it to makes

endpoint, And so we particularly would was that I the your endpoint. primary endpoints. think the I informative. why question endpoint. is specific doesn't mean tell secondary That's But to CAPS-X the there's obviously think it's as any primary one

those a see. And domains endpoints. number pattern that why helping more by we reinforce It's that's to a of of covered activity clearly think of are I

those them patient it and can about be a clinician if we're that reports, kind are And will of there a or do. that's way looking like pathway reported. form through of Some the that at the pattern are them more together of coherent some what you story drug measures different a

Ram Selvaraju

data an potentially interest medical from you the would to the the was effective funding forward have sources is positive and outlook if helpful. very accelerated non-dilutive in is PTSD this the PTSD, And that's B, I Phase in particular, X unmet what on drug for given nature there might submission Okay, moving down if in drug be an need? development to that comment pathway path. of that seeing for indication, the for A, regulatory could sufficiently contemplate potentially the route also, assuming wondering an

Norbert Riedel

Okay, Ram. Great.

point final FDA studies to describes, that have X, the build we’re Phase are as into say there then several aspects goal clinical that making as we to in follows question. as the to move we be set how would and findings observations the agent currently logical can Phase case in that its will several the compounds on is that informing is In done have our Look, the PTSD, So stages. a past respect Xb. your study data with next PX exploratory is MD a development to engage I discussion to with X, the with Phase of clinical we or what parts

agency, so the that flexibility been hope one to with is the relevant So dialog particularly than XX need have because this of a path has in exercised in we symptoms to there which are actually is there and and degree we PTSD depression that treat post-therapy the very therapies the years, available of of is will be and forward fundamentally, much a a hopefully PTSD with to more mechanism a not PTSD, a believe tremendous action sufferers. in

where times have With an can indication multiple way efforts us like that to conduct perspective to commercialize think the plan respect to studies that that funding, we, as to well actually capabilities funded to we’re take typically PTSD that talk like the and those all I the Ashish In the in it has pain, include do. the easily would commercialization capabilities space looking saying we’re globally. of provided at we that chronic tremendous actually to all build PTSD Parkinson's, ultimately or and

and really open limitations value time right the at we I our expedite to think that the are we finish high proposition can with to minded how a understand consider line.

we’re on compound quite own skills have time. clinical very PTSD, depends in for the we that development it the proceed capabilities and and on our some to in-house think with I But confident

Operator

Blair. from All right, your so William next Myles Minter of the question line from comes

Your line open. is

Myles Minter

voices everyone's taking for the everyone. hear and to questions. Hi, Good thanks

respond to realized, I've just I'm now XXX, may of response in to gotten proportion one actually and might expected to been you and contact that so this throughout actually psychiatry access or that on that placebo that have whether stage telemedicine Just patients and placebo or expect do rights patients has patients of in to you've be having change that over during period. COVID-XX, specifically trial more enrolled, the physician wondering sort better hearing been responding even of you

Just curious thoughts your on there?

Norbert Riedel

Myles, Great, all and well. warm very to hear as a to It's welcome your you welcome call. great first to voice

maybe it, ask you at first it stab more. round kick-off to then Catherine, and could I'm answer take Catherine think this? going that I out follow maybe a if the little

Catherine King

you. Thank Sure.

PTSD the results watching impact in remain we’re and study. both across operations So blinded. the We COVID-XX of carefully

But we perhaps So at and we observe be I COVID-XX sure this will data versus on us are investigate placebo I won't we others. the are differences that to patients time comment both the enrolled this that analysis making to that say able of response there. who related during at describe stage, collect that perhaps allows I might think time to

So think be I interpret COVID-XX taking well into data we're the impact might able this positioned account to to have. that Andy?

Andy Kidd

definitely Yes, agree.

people argue the of might impact above environments. true are the what different lots be, for can some ways you all Myles in of of different think perhaps COVID-XX extent to different I and

these like impact an or patient making study that it mentioned not. to doing just think we're on can safety as And data very that we ensure so collect think and correctly. the data eventually, Catherine I scrupulous we can sure we we we're focus the if theories will on quality interpret know I and of the focused to what complete relevant so about right turnout with said, Norbert really being But trying have any all

Myles Minter

index? in is dose to Then saw dose conditioning expect of that your to trial it effective actually Phase fair. preclinical like where and Just and Xa curious your certainly highest from particularly wondering few XX there? fall ones, the similar that Thanks. in we outside or something your the initial milligram of predicted the that's on what just XXXX therapeutic Okay, maybe the DPN studies, then XX range choices,

Norbert Riedel

great. so Yes,

So we first arrive looking our at in we’re pretty methodical pretty, and follow stories right studies. the how in at in-patient

XXX, is work of And doing these so, sizes these measure models correlate that in efficacy animal models. extensive exposure effect brain case by preclinical or optimal Myles the with it various validated in in and

in and course, dose of multiple And do then ascending study. volunteers we clinical single X in studies healthy Phase

brain we every we CSF which if for have, surrogate with respect bracket case of as then the brain compound with you of and compound the and, Cerebrospinal our presence animal how every single correlate the in most a that's select. in And we exposure. then with to And fluid levels in behavioral we models saw these effect will, models we efficacy optimal doses the measure

example, to measured XXX study DPN that the that So indications. way that the because these completely XX independent in where were and we independent we here XX, and compounds is are the had selected XX doses the uncorrelated behavior XX as different an and models in

another. of assessed efficacy range we is there pretty one all assessment no, to well. should Each compound from own a, its to and So to compound at way within CSF. X is a even to think actually exposure Phase thoroughly brain see accurate in we're And then preclinical guessing where I context, we human from be the look as

XXX for the XXX that and for well. been the as have XXX and process So process

Myles Minter

queue. back the the in for hop thanks Okay, I'll color.

Norbert Riedel

Myles. you, Thank

Operator

have Goodman we from up, Marc Next Leerink. SVB

sir. open is line Your

Marc Goodman

Hey is the on PTSD question guys, study. first

you're weeks up enrollment, the coming to be in finishing If going

what pointing just given the was the of get study for why you be expecting? just it months, have then and second all, next, third where be you Thank Allergan and in we should what's of the just And the are can remind you. quarter. we might figured couple it how year would late to we in able long data, of I are collaboration us the to

Norbert Riedel

on on maybe PTSD me can I why question have Allergan. Yes, I guidance off Ashish it take, Andy why and kick let or then we could does or on providing the the just providing the the it are Allergan touch maybe, touch kick-off

Andy Kidd

Marc. thanks No,

a good that’s question. So

cleaning study we in in go we focused it's to through timing, before a follow-up. a of up of week quite kind the the process can through the go lock of that over database. checking process robust that sure in a happens of making the high and the a we're data way. on And then nine-week And have to just course, including level So

And may little some this to environment do that. in of take that websites requires and a while interaction

fully then, design time the endpoints of and We will know you different also and make enough to as the course, of study analyze once the allow with all data. sense

the I when that, think end three timeline is of reasonable all all of given put So a of year sort those steps of you together.

Ashish Khanna

quite to With for the conclusion and collaboration. toward been contractually to then for on both that not this we've has the acquisition AbbVie the be that parties. Ashish. perspective to hi happy launched front. that Allergan to that to a the conclusion. a pathway the a joint it’s last we the predetermined company will our of expect a productive from The been continues Allergan It very of back AbbVie with started deviation on Marc, resulted Allergan well that regard XXXX collaboration And has its what new of funded part. any we year gone both same well partnered and first go be it's collaboration and jointly effort, week That's We're when come or on in straightforward has parties, close with expectation effort collaboration in in way

Marc Goodman

Thanks.

Operator

question Duncan from Next from Fitzgerald. Cantor Charles comes

Your line is open.

Charles Duncan

you, I early of team progress questions Thank on Ashish. one Norbert on a for the and probably the fives high the congrats and PTSD couple but then and pipeline trial. had for too

call regarding that good anticipate First Myles and that sites PTSD, would to study seen that be quality But of of of Is case may on of interest patients? impact the enroll question. in Or a the of increased any questions longer-term going investigative to job COVID-XX? keep and rise? patient in in track maybe it by you doing you've the PTSD maybe enrollment back seen terms to the data. Have you changes it quality geographic all, you regarding what XXX done have the addressing you're

Norbert Riedel

Catherine Thanks hand to I'm going reply. to Charles. that to Great question.

Catherine King

do we shift but see setting Certainly, this academic some because not is they their Yes, one I to major of medical to of think that doing able focus Geographic working investigators care. we’re clinical we in hospitals, in difference patients, the also research have terms with. see differences. they’re large a factor, to type persist their patient centers,

this On research continue operations are to centers hand, the on more focused able during community are other that time.

required the take and seeing operate, to by And again and that effectively provide the we're patient are as protocol. effectively sites exposure for visits being follow-up precautions COVID-XX they're against able those procedures

that sites continue the are criteria in those medical inclusion, looking interest, have able So to see to PTSD think folks their our exclusion I are With new to respect are operating. we opposed that history for instances. as who

so not COVID. sure I'm a And necessarily that on drive we're seeing based

not time. But we’re patient are be this again who sites the to to care research to the continue seeing at encumbered ability of by do able

Charles Duncan

a not Maybe expression was wondering increased I go of I symptoms drive, the is what guess to? maybe but Yes.

Catherine King

baseline trial. not So make can a been have meant It's symptoms. we from, patients be that looking place a not those where criteria, in and be flare is those measure a in the And the there of in as so sort procedures for to sure a now. trial on screening relied got we or enrolling we've in process throughout can that sort successful that good the we're in temporary continue we’re increase of to

Charles Duncan

know success next about what could it Could And a meet study in steps, and assuming you've to of by of this, started could around thought you that's next year? couple Catherine. think Do be different quarter? with Surely the alternatives, be reasonable? mid-year kind lot with a I the but first trial, see a in a agency be helpful, Phase driving to you there maybe on Very or turn timeline you just the X protocol? might then next regard

Norbert Riedel

do engage to by we to that agency next Charles, to think in as So because plans guided study what probably the how premature answer respect it's data question and the is I those generate, discussing to our we we’re plans. typically with then the

helpful to opposed to data that truly do We you on as say, have found based speculation most when but it

plans, Phase X study just a have extraordinary study. as you an the finding is reminder, do

expectations we in believing X jump do X is I Xb a to study step straight quite a determined. obvious Phase to extremely would we want possible do don't because be that difficult not next study might to or so to into want misguide Phase the is And achieve. that more just be set Phase that I that conventional it

Charles Duncan

just about thinking unmet Yes, the I the all we feel. stresses and get it. need maybe I'm

Norbert Riedel

the don’t I I at know, look need And unmet you. is Sorry, enormous.

operating in And look, that I environment. so but a still hope can highly regulated we convey I we are

So who knows?

Charles Duncan

Sure.

Operator

comes next from from Baral And your question Ritu Cowen.

is open. line Your

Ritu Baral

anything of Obviously, driven changes of items of or that obviously Obviously, bit. any screening the guys. questions, there, about are I perspective are correspond to to maybe anxiety for or Good CAPS-X to individual for in thinking to or there little a cetera. items in Charles stress did PTSD just the et you like within on question. afternoon, mean was analysis confounding most to course there number items mitigate that seem sort of follow-up the anything the thinking fair triggering Thanks any process, PTSD, potential but event the I'm the Item response to I do you subscale Is might driven exaggerated taking that related of the the looking items outside address at question cetera, CAPS-X, a trial. referring more what questions, for can depression related Item to there et XX, the most question, X, event of

far as as like prospectively?

Andy Kidd

for Hey question. Ritu, the Andy it’s thanks and

little Because, data piece the be has Ram of question all the from CAPS-X may these a it the possible different the the out, pointed how what the the scales can inquiry. ways, think think and together manifest the primary. is one to bit kind patterns the lots back of is nature of you There's study? just it does in at start, I come we asked which that data do I

And a have from secondary we make us there's as was thinking respect relying through, that's the this So would that if overall ability so, some one specifically items of line anxiety time. could an and of subscales we’re as some in issue help that understand are and and to might than that scale to on corroborate more help depression, with particular of if other yes, overall of scale to do item. do pre-specify validated analyses individual impact that was an what two what endpoints period sense there opposed an really if set or to

So the it of to back help in to I looking patterns the think going at secondary data and throughout totality, goes at on. pathways sort of of endpoints point that what's looking the exist interesting that or us make sense

In said seeing addition also to they collecting to are that, from I on think we're and grand feedback the patients understand sites data, as Catherine what level. with

And help that'll interpret as well. so us

Ritu Baral

making Norbert’s follow-up are also to these and assessments frequently How about I wanted comments you on

virtual assessments telemedicine they endpoint and talking where secondary over assessments. primary done specific not? participants Are you about before follow-up and were

Norbert Riedel

thank Ritu. to you delegate that on Catherine, the virtual sorry And yes, needs here, sort like question. of

Catherine take you that? So could

Catherine King

virtual before, about the Happy are components talking data. talking mean done was do Norbert about of visit a where operation, that us follow-up, revised study it, in be way virtually this is we gives patient quality that that good a could to does

of doing the of the these gathered. So that's about we aren't without things sort being data validity discussion

the required it with with video But the possible. site patient. clinic do video not a follow-up it a to that option into a just a to or allows that safety. for to But us in or suggesting would ways with We’re that has also gather phone been made we've a telemedicine phone be data an done as

do procedures in-person presence. require study other the of Some

And make so way together those some allowed the that site. patients to accommodations for two the things might visit have us

Ritu Baral

virtually? How for? accounting accounting compliance you are you with are medicine How for more study

Catherine King

and had a much the That we than been We process careful trial as operational had in the trial. within during fully very time compliance remains effect support already. Yes, so and in not different assessment this well.

in been change to hasn't in much measure a compliance of our that trial. ability there So

Ritu Baral

it. taking Got questions. the for Thanks Great.

Norbert Riedel

you, Thank Ritu.

Operator

right. All

Laura comes next Wedbush. Chico Your of question from line from the

Your line is open.

Laura Chico

line, trying have for guess last Hey, in sense good any afternoon. have one so been of I that, pandemic. how the XXX your have you that might changed do original And impacted in just might two, guess I And continuing in follow-up. to terms Thanks assumptions? study here. have I'm how I by retention the have this understand to on me fitting I relative then specifically,

Andy Kidd

Andy. Yes, thanks It’s Laura.

is before I all straightforward. not think early termination on and that, of on it of retention, after. an first in We've seen impact terms

tracking patients current entirely course, have study, much reason that not And at the higher withdraw from that situation higher is there's citing particular is that COVID withdrawn studies the the and across level, I the at I to from pre-post. think, two level, a whole think line measure patients to of which I difference think expecting study, we've what seen were see. be the or there's is a always very in but one with expected, we

Laura Chico

you areas, about track great. that a for Okay, year-end is there guess And maybe the arrive deal asked in recruitment the we I is one good your kind at see would only has some on reprioritizing restart? this efforts data a guess efforts restarting, XXX high then clinical that earlier or COVID And of perhaps therapeutic you I changed a some reconsider might more only of XXXX. by I strategic talked question then two to level. possibility I And feasibility the criteria guess reason given of with stage?

Norbert Riedel

COVID-XX So safe should the it this we’re go that an study, vulnerable provide concern start that as and particularly is as it sites environment, point, is as you DPN the Fibromyalgia fully those both once because the assume they major is elderly population study back I ambitious to one of to and confident can study clinical because can more that the enable population to tell are Parkinson’s little clinical appropriate starting we’re the into patient that perhaps eager trial, and the actually I the at study, patient there. that safety is a course, concerns us

on. Officers carefully, monitor with written physicians we is with I right So is the way the peers, little extensive. in there Medical fear for population Look a my us and that which that when is If them, quite have why so my said be to I study, that other sense protects engage we out. that I Chief to that might push remarks unless willing suitable more when there a and not may could sometimes patient that or vaccine that conduct engage a be delay a

don't that going a profile. I Fibromyalgia the concerns I example. generally different way. ultimately Then patient to is about as I if clearly more Now, an elderly that's patient in a environment happen population, have know have completely Parkinson's population about which But

Laura Chico

That's very helpful. Thank you.

Operator

from next Markets. Your question comes Capital Gary from BMO Nachman

open. line Your is

Gary Nachman

afternoon. good guys, Hi

the describe Just question could reinitiate, quickly fibro the how the you're a with XXXX up open studies ongoing on bit? the DPN when things last communications following and on specifically, sites having

Norbert Riedel

Gary first the going as which question. better did but be preference, it's as I'm to to say for quickly quickly other not, I possible on comment I we my still could it you of based recall would know at don't little you follow-up? how can thanks question. not guidance, than can on give you But your and of uncertain can your too because part bit is earlier Catherine, comment the the this that part a Catherine to on stage. question, maybe

Catherine King

Yes.

PTSD. with I is answer experience So that similar I to give guess would our the

of community opposed based that part academic to as focused seeing of medical they part an able operate We’re if are hospital. or sites and are center more research to the

in so able have close able able think operate. to to a they're where we learned But to see use consider I are how sites factor site and what do we've And trial with to the communication operations we're PTSD those restart. play ongoing when we will from

Gary Nachman

want reinitiate terms things and the communications, clinical you going are of many I'm pandemic from is think so Okay, curious open companies to be environment in going when those to the studies. how to up because just like competitive

So relative the of going you're do with to competition have a where that? to you sense fall

Norbert Riedel

sites to So with. visibility regular I really we dialog hard and one but have number making we to have remained sites thoughtful really various not, we tell in with the sure we because groups working answer that see that's we been that have that, maintain don't you will we’re

that clearly We as as ready they’re be have ready. signal we soon will

these to We means conduct have the studies.

that we’re we more in throughput site needs as be the be to placed think is because in have where ourselves very, slower that the precautionary take. high actually going helpful be totem competitive I so undoubtedly what as to on I that to well years also up very of be And an to measures the relationships the over sure will nurtured need making the environment find all we and think environment the will a numerous pole

positioned I throughput, that pretty to it so that expressed might placed to pretty, And as to speed as level be think of the adds you can. that ready to I and be go to the we confident back think basically but and difficult concern soon go are we’re well previous I on

Gary Nachman

earlier is accelerate perspective are your to pipeline? of And helpful. with lastly, trying are evaluate and clinical that then doing work? Can Okay, compounds hold, you earlier preclinical doing on Norbert, stage stage else what spend number time these while studies more some you

Norbert Riedel

So we glad up often bring question. to that. don't the actually talk I'm about And

qualify We’re compound. ongoing process basically an clean now and literally in been have years to and for

general are same in impact Allergan X,XXX compound. It agreement very and synthesized is do. have compounds of course, of shutdown a in on has effort orders did. important that have everybody been because research how at AbbVie least laboratory pipeline our we on down we an the not mentioned making we last collaboration and unfortunate, compound several one profiles is molecules, that profiling company. because slowed part down that synthetic since shifted shut of we here company, the occasion, follow have weeks, has we And characterized one than facilities however It altogether the us we've actually small more that been we basically if to yes to also mandatory think that the Illinois. a for to the had research I now with else by anything, answer, can But as we much we’re is have a is

Gary Nachman

helpful. Okay, the about mean the library. talk you past lot that's you I in a

hear So that it's good to still that's progressing.

guys. thanks Okay,

Norbert Riedel

you, thank Yes, Gary.

Operator

also we Fye JPMorgan, open. from your And from line have a Jessica question is

Yuko Oku

call Thank the you a the taking program. on Hi, of questions for this for PTSD Yuko couple have I our Jessica. is questions. regarding

to baseline studies be the the second, to you think First X need and what characteristics Do enrolled on could will do similar Phase the population question inclusion to is exclusion different SSRI demographics. population run in believe criteria based support enrolled you controlled two you studies, on the approval? be

Norbert Riedel

to Andy going have I’m kick it off.

Andy Kidd

Yuko. thanks, Yes,

SSRI studies were quite So mean a the time demographic conducted the those studies, ago. long I baseline versus

people population, Vietnam in talked days conducted, were back military a example, for those So about they studies (inaudible) veterans. those when talk about Veterans or

of in Iraq. we XXXX course, Now talk of about veterans and Afghanistan

and there's that. sexual of for PTSD an I also think assault particularly like things and awareness of other diagnosis increasing trauma, sources

baseline difficult trying that I took appropriately we've limit I population, but long are said it is not our large ago, demographics always think extent. compare studies think what with to to to place limit that So patient not that we’re

group, studies, can, So those such more other conclusions, variables other have as try trauma, studies. like been et have sponsors, we lessons looked trauma, recently learn in those in diversity cetera. more trauma, of childhood of we've what as do complex that and studies PTSD want a introducing age SSRI complicated to only things and time back PTSD to but as by we types since But conducted not coming at much learned to

Yuko Oku

second thank the about And the Phase the of then X Great, controlled question you. part studies? two

Andy Kidd

Right.

So and something agency with studies that studies, again, driven X program is more we pivotal will development whether by two discussions that the Norbert be data as the rest a see market. expedited Phase of it's the earlier, said or two that fast

incidence terms that I morbidity. very this I in of And Q&A that that And came increasing it's in terms and on seen high to that discussions. think based of needs. remember remains prevalence. out unmet the of surrounding to of point an think certainly is important think the the be is is social I something and medical do area agency one

Yuko Oku

much. so you Thank

Operator

Ram Wainwright. have we follow-up Selvaraju another from question And H.C. from

line sir. Your open is

Ram Selvaraju

Thanks.

Just kinds very of kind this we all prepare have was to for I of of given quickly, wondering nature the pandemic. situations, unexpected

be flare ups could possibly Assuming that potentially that cause there future might

with reimposed? to those conducting be control the potential about here have countries respect better Coronavirus you you potentially the U.S.? in seems additional that plans, unfortunately possible in than future would been pandemic thinking undertake case significantly and to particularly in contingency to that restriction managed the the to studies Are may have

Norbert Riedel

Ram. This is really great a question,

when free that will for a also be sites COVID-XX talk do that of hope to November not time. some again we actually that or us quite I believe us comes have resurgence studies, first timeframe. But to as a COVID-XX increase October, as I do project we ready right that sincerely environment massive becoming about all, in back So, some flu will they the look, with in will look a season not because

sites so even is is are PPE, catastrophic that screening, a And the to measures us another unless with precautionary to that's going is taking respect whatever testing, resurgence in wave. pushes literally all back are actually if helpful, there probably whatever be a it unprecedented resurgence,

to normal hope not that's the loud elsewhere, have more hear States. here to other let's than studies going I So much countries to respect seem conducting gotten place stable to that With with more that a you and struggling happen. quicker or a we’re in clear

minded As have do so. to not to point. studies up would an organization, I clinical open this ex-U.S. we perfectly be conducted

it. at those se, population that doing like be are have be readily believe that can available the geographic companies no alternatives we I other because certainly force will I preference patient geographies, other that behind per and open as looking driving appropriate minded actually would as looking for long well. As to sure I'm are in

Ram Selvaraju

you. Thank

Operator

And another from Duncan Cantor Charles follow-up Fitzgerald. from

line Your is open.

Charles Duncan

Yes, thanks for taking the follow-up.

then and Ashish. question pipeline question for one one Just

really in you the reduced that of longer could may happen chronic or pain, administration patients all what out I'm wondering arm you on studies well, you in cohorts speculate with first remain first and whether before not cohort, or could do understanding there's of arm question XXXX speculate that on of tell pipeline the two those us COVID-XX. if potential drug perhaps in on effect size if if remain if Regarding control period after drug? so, being enrolled But could that and drug have on impact terms think driving they activity and those

Norbert Riedel

studies, Okay, like just work, will suspended actually the allowing so is the set before say difference we defined complete patients where patients Charles completed a is, patients And on complete and last mentioned between refer those study start. in see study this PTSD, we study then on we a study that XX-week why our of actually we needs, to would then to we call there COVID-XX, the study the with after, if is and question and that studies the have a are we well

are studies to studies, apply say the these that results enrolled meant DPN. we stop we’re in what criteria as there different previous Fibromyalgia, from did be they would a because these very say I look, have to, one we studies, same goals studies and let's our pursuing see they that now did is because remember in two in validate to being one in you

study and much than patient data very decided completed sensitivity the its therefore, They patients typically study. so I knowledge much XX-week. level data have actually safety, registration PTSD in for has certainly all meant at same that, the not quality, I for trial. stay with will when quality, sensitivity but suspended ideally can serve to once and much, respect the of on have And as a but I looked we we to the higher we have the in will study treat

Charles Duncan

terms an in percent the can first us in estimate two that's enrolled that before you of And each give broad studies of COVID-XX? those in Okay, cohort helpful. even patients

Norbert Riedel

matter that No, actually, we a done have principle. of as not

we in understand clinical sure to it speaking, let's our report way. it of we generally The so actually that this why as do wanted But done first to this not because was was of that any take trials. say basically far along actually on you the time far rationale the have enrolment PTSD status in, we that all we make

Charles Duncan

quick then question Ashish… okay. Okay, for And

Norbert Riedel

you Do yes good. Ashish, okay a for have question

Charles Duncan

some second that the you spend of be stopped quarter, guideposts kind to that give can what in quarter? and enrollments most know part. back I question But quick cash R&D that million Yes, start was $XX understanding enrollment to you'd look of before when to in going enrollment is it's spend on of first at a you Ashish anticipate of us for function in that And basis guess terms in you a up. quarterly hard when the

Ashish Khanna

million $XX R&D pre-COVID-XX in first the Yes, Charles. in quarter question, the escalation for expenditure reflect the activity. did thanks pre-suspension Yes, and Sure.

don't it three to the dramatic still expenditures it expect the wasn't should I decrease that, a it's put as a studies of we be still quarter, with and know switch, will on to that in which activities be that to we certain associated pause, R&D activities how needs fair expenditure with on, think QX, that second reflect regard in and off full I say for. accounted have both

have steps our But also, in with very of discussed our Q&A, CROs, taken measures closely we've the we with and as the remain in sites. call engaged parts other to

means when possible. And have to costs. as management So project ongoing They as we started in that projects. ongoing favorable are these position, a be

isn't this entirely shut off. So

spending, I say think We’re of think you as in I activities, to given how should very be. these so about disciplined we decrease the but hard will that second our the see see, suspensions and quarter, much some

we while up guidance looking and begin In of of the terms that the that third our back our that's today, based quarter certainly to quarter, ahead, give enrollment hope is on we're ramping again lack hope. in fourth clarity and can't

on to forward. you going won't so guidance those I be give And able

Charles Duncan

follow-up. Okay, for thanks Erica, taking the

Operator

like at further over questions remarks. turn I to any Norbert time. the call closing would no back for to showing I'm this right. All

Norbert Riedel

had and day. Thank safe, afternoon you as be rest stay much you, we've terrific. of time Have your your enjoy evening. questions. a and was really well It and the and appreciate good engagement attention. your your for great operator to of all thank Please We as have an good

Operator

for you Thank joining us today.

disconnect. now may You

Aptinyx (APTX) 14 May 202020 Q1 Earnings call transcript