EVLO - Earnings call transcript Q2 2020

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Operator

Good morning, and welcome to the Evelo Biosciences Second Quarter 2020 Financial and Operating Results Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please be advised that this call is being recorded at the company's request. At this time, I'd like to turn it over to Jessica Cotrone of Evelo. Please proceed.

Jessica Cotrone

operator. you, Thank everyone. Good morning, we topics issued that morning, press a plan to the we outlines discuss This release today. This release tab. the under is available at www.evelobio.com Investors Officer; quarter R&D our Bodmer, Medical and highlights. Officer, on call review Simba results Chief Chief Today our and will second business is Duncan McHale, President financial Chief and Executive of who Scientific XXXX Officer; Gill, Mark recent

forward-looking to now today. as cause my its is Any the disclaims on speak forward-looking Commission. differ operations events Securities to risk in quarter the Exchange of if to those duty indicated like of directed statements during Simba. not XXXX, begin, of the the studies, I'd results even over clinical to facts, Reform matters due set and this of the relate XXXX, harbor the and Securities call we subsequent to could that subject of pass anticipated other and views made statements Act Reform the monoclonal factors and within Litigation ended sufficiency remind by of to the change. Evelo Form Private and our safe today about report XX-Q from the XX, Before statements Actual the statements to many clinical be results Such protection for do forward-looking Participants intended conference to Evelo's with statements that to call to updates the June statements provided and are forward-looking any are quarterly considered impact made our forth the any of forward-looking factors. company's fund to historical filings statements XXXX. materially pleasure cash meaning including everyone microbials any timing to impact be Evelo's objectives company's of by for the the of operations, the provide should It Act. to milestones only

Simba Gill

quarter. Jessica. an our you, and and phases clinical follow-on advance recently to time invest everyone, and provides our to joining important to development, This our the capital the is Good for us We've review thanks next programs through inflammation second platform oncology exciting of in completed us. which in offering, morning, Thank while the our during continuing progress and our pipeline. for

X/X expect X to months, X in including breast trial We EDPXXXX X from within X/X X next cancer, from data study Phase atopic triple-negative EDPXXXX X of Phase each dermatitis, the data clinical of trials data COVID-XX, psoriasis, and our six to of data the generate Phase EDPXXXX. EDPXXXX from EDPXXXX with and and the readouts in Phase dose-ranging in Phase from additional XX trials in with

of safe, to to a oncology programs, have class Our in to observed vision relevant axis, the medicines translate the or SINTAX, convenient humans, effects small is can develop modulate In intestinal we we affordable. our demonstrated showing preclinical that both new are and effective, clinically models harness to harness that pathways. SINTAX inflammatory and that

arthritis, on psoriatic conditions immune focused for and be or globally, than inhibitors such with world mild this estimated U.S. the asthma, are also patients psoriasis with potential rheumatoid the arthritis, China, concerns, least including safety of living treatment in allergy XXX existing The million disorders million around to almost multiple true million because the as and at disease. generally you know, or level, people broader are such not globally. have holds numbers people more with dermatitis. moderate the atopic or sclerosis. of This Xx individuals JAK the with in as XX Over or EUX initially These As anti-inflammatories inflammation, inconvenience antibodies cost we people to injection X.X moderate are of treated infusion. alone,

effect you preserving not resolving resolved potential as inflammation we pre-clinically treating important The but gives EDPXXXX viral infections know, Goldilocks disorders, of antiviral such EDPXXXX, activity, patients. help also differentiated COVID-XX. to is in which COVID-XX for As whilst hyperinflammation treatment the of just immune is observed in

oncology. to Turning

and from suggests provide and data that patient Our adaptive the has multiple killing. in to all augment benefit is EDPXXXX line last stages across tumor well to potential amplifies of tolerated innate EDPXXXX to line. immunity additional tumors cancer first

can have execute $XX while turn the to potential Mark. lot SINTAX. to million of clinical we milestones call in June, a the on. And financing following continuing explore on will that, going over We the that completed now our With I we

Mark Bodmer

may inflammation by have biologic drugs been by biology mediators the of that of enable axis effect two work terms, small such than the XX physiology. from over new to able us Based infection molecule needed Thank the create to is important what and created pre-clinically of last that be any this the inducing XX This extinguishing Goldilocks a you. the Simba cancer. on processes In scientific and clinically, that seen shared being to Many mimic damaging to body all throughout it small inflammation naturally, They surveillance medicines. we without the protect of to the properties. resolve resolution, intestinal inflammation what control natural us of EDPXXXX. they have does but body found drugs rather haven't referred this seems by and will means years. we've immune

may immune immune type multiple surveillance. oral X SINTAX pathways second, anti-inflammatory inflammatory the First, without of mechanisms next solution complex interconnective they coordinately in safe process The they single offer of frontier of which complex interferon downregulating resolve be in surveillance; a suppressing inflammatory carry will process. attendant this pathways inflammation therapy drugs, manner. by target risks medicines to a

preclinical. for impacting type not X is interferons evidence Our

dexamethasone and announced Following results implications This and EDPXXXX been work's all the in COVID-XX for for similarly results COVID-XX beyond inflammatory in the preclinical pre-clinically. recovery effective trial are that comparing recently in dexamethasone as dexamethasone yielded with anti-inflammatories EDPXXXX we've the and combining potential treatment. diseases patients, models. have

X suppresses type immune By the alpha However, on EDPXXXX for surveillance. suppresses these interferons. Interferon interferons no X beta, and contrast, type has required effect completely dexamethasone heavily Interferon

and had effects aspects EDPXXXX additive noted the low-dose also various and response. synergistic We inflammatory that dexamethasone on combining of

the complexity and leads inflammatory the not X the to of This as inflammatory type levels multiple at have place. cytokines. therapeutically many right right the Turning sparing EDPXXXX is of cytokines right to complete roles as presented interferons, reduction, of suppression time important but when protective the the in inflammation,

EDPXXXX clinical this for well as evidence of preclinical. Our is aspect as

of these is reported the production work reductions clinical may clinical this basal into You we've anti-inflammatory suppressing of more of lessons update. to in impact levels deal inflammation of where few cytokines on the of were of IL-X of SINTAX vivo that learned critically the will a we the we frontier and build medicines, for of without the treated to a action now resolve medicines. our excursions these science can pharmacology explain, SINTAX we stimulated new capture mechanism clearly, patients protective pre-clinically the Duncan They a which maintained. our months to of I continue both enable IL-X translation potential Excess story, ex studies, in with these and and realize prevented, hand If the EDPXXXX. were blood I'll recall preclinical over are us new important. great on immunity. clinically, medicines, last this for complicated of

Duncan McHale

our I'm you, today recent progress to programs. oncology inflammation across review the and pleased Mark. Thank

with in psoriasis. at XXXX trial and and X third U.K., ethics of for Phase moderate the quarter to EDPXXXX expected mid-XXXX. received have for authorization dose-ranging the We U.S., remain on our regulatory by sites in interim track the trial EU in We initiate data

EDPXXXX of week As stated in X XXX placebo previously, endpoint approximately we the the at score have primary will the doses and be versus mean reduction evaluate individuals, will XX. in study PASI

other IGA, need LSS. measures The topical to approaching BSA, IGA as such population of biologic for through also clinical study individuals and x who therapy. disease individuals treatments the are will We evaluate includes failing BSA

EDPXXXX earlier, have agent said group patients. the activity and potentially poorly would tolerability As and Simba served that make of first-choice the could believe broad this it across we

ideal setting. of the therapy, suggests Mark prevents response the cytokine to clinical of COVID-XX. that A and The role this preserves be which potentially turning clearly suggest to Now profile the The the observed tolerability differentiated EDPXXXX. process. storm, date in disease potential an the in for with therapy be antiviral combined and preclinical results early to EDPXXXX early data hyperinflammation described would treatment development a and used

to are trial, U.S. COVID-XX We report pleased FDA our we and this IND trial that recently from Phase our fourth authorized the application quarter. data II in the expect for

working inflammatory in trial futility data globally For expect viral-driven U.K. of which the to EDPXXXX we play are cytokine analysis positive, If data pulmonary the Addenbrooke's Cambridge storm a explore Phase for the the trials key new sites are and II/III bring such from potential influenza Hospital as therapy other we and year-end. plan interim role. these a complications safety as on to and in in with continue the hyperinflammation also approved by TACTIC-E, already to diseases,

our our growth EDPXXXX, EDPXXXX in pembrolizumab responses me presented preclinical tumor These Meeting combat metastatic carcinoma, let July, Cancer provide data those our turn with via our we in on products types ESMO patients by of breast cancer. treatment. first inhibitor individuals So, candidate open-label in product the on triple-negative advanced relapsed that our I/II microsatellite hypothesis stable data. We multiple in now to immune At of with were Gastrointestinal Virtual line encouraged with prior breast in results colorectal stimulate humans, oncology. study Phase to triple-negative the with substantiation tumor in World Congress with and clinical in the checkpoint data cancer can from particularly SINTAX combination

and at to only XX% know, the only patients attractive including clinical events. conjugates. adverse to candidate and preliminary XX breast treated be disease treatment such rate breast combine response no overall chemotherapy on and may agents grade chemotherapy very receiving of X all antibody of drug or an response dose. Historically, patients, high X four you the XX.X% eight metastatic poster An patients an other with XX% were control high X and across observed cancer rate. grade dose with Suggesting is this rate most cytotoxic There with The setting of a GI could in cancer as with three a the EDPXXXX or date relapsed inhibitors grade few cancer triple-negative options. As dose. EDPXXXX XX% were triple-negative events, presented drug-related breast checkpoint received triple-negative lower aggressive and disease included with ESMO cytotoxic

combination in in the actions could is in data drive immunostimulatory be third agent of these by and data observed treatment pretreated or the the treated pleiotropic enrolling XXXX. immunostimulatory enhancing and need XX%. the studies for to it Phase current of response agent in from between range localized minimizing later that of a potential which agent and efficacy cancer although These is tumor. individuals X/X the Now have data, an additional poorly-tolerated response triple-negative will fourth trial still triple-negative an cohort ideal breast It of with acting, maximize degeneration compare expect cancer, yielded cell favorably of sites any on breast the suggests overall chemotherapeutic to increases initial Based additional action ongoing whilst data and metastatic heavily would early responses small, It results a approved make neoantigen on patients triple-negative If we're for this EDPXXXX ideal targeted treatment focused inhibitor are with an for X% clinical historical anti-PD-X the then in with action monotherapy to inflammatory This now these number for quarter augment durable rate newly generation. the of maintained, with combine cancer. inflammatory our to therapy, tumor of to the has regimes. clinical in regimen. a line death an the checkpoint which report breast neoantigen rate potential broad the patients

Let call turn Simba. back over the me now to

Simba Gill

XXXX. milestones with a you, in the fourth trial a ruptures year quarter I Duncan. across EDPXXXX, from Phase with this the we portfolio. of data Thank in of COVID-XX to our with reminder want conclude X expect upcoming Beginning

For interim this of safety fourth futility the X/X trial, we expect quarter analysis in TACTIC-E data the Phase and year.

with unmet to to product non-live data on a first expect quarter the of Phase that in provide in our as third in the EDPXXXX, in looking plan the well quarter today on EDPXXXX of also dermatitis need these detail We our trial in as more didn't trials dermatitis, October. diseases, year, call trials a mid-XXXX, Data for in XXXX. mid-XXXX. atopic third the initiate quarter inflammatory and EDPXXXX first are Phase to We moderate with psoriasis this candidate We year from we're spend the in fourth the atopic respectively. X Ib in dermatitis quarter expected time initiate additional of first by trial quarter in atopic of this discussing

trial report data to of in expect cancer Phase from this our we additional of the breast Finally, fourth year. in X/X EDPXXXX triple-negative quarter clinical

Following the debt existing third our an additional support drawdown of sufficient our capital key follow-on we in continued enabling while four of have into facility programs, of clinical each beyond offering XXXX, in July, the $XX ongoing June our under and our in platform. operations million milestones our for to investment quarter

programs, candidates need EDPXXXX have triple-negative key potential where the prove may shown unmet for our in lead activity psoriasis areas cancer Our EDPXXXX promising and beneficial. particularly breast COVID-XX medical for and of product unique of potential

array programs enable like to we the for expansion continue the And updating be COVID-XX which results. where provide our broad the as our We target to I'd our such you again on able highlight clinical over and other six the we've reinforce Over to Evelo. into the breadth the of commitments to viral-related expanded In turn drug at predictability of we've like vaccination. could our next current the into further disorders, and further of now operator efforts I'd X expect Alongside of other call syndromes exceptional validate of inflammatory team their a models, we our pipeline, able discovery platform, across potential transformative preclinical areas, SINTAX dysfunction, during indications for look work, to been as a to pandemic. to thank the months, may of neuroinflammatory XX Because the metabolic closing, readouts, questions. disease forward to deliver progress soon.

Operator

Instructions] question Morgan first or from [Operator Stanley. from you. Thank the Connor comment comes Meehan of Our line

is Your open. line

Connor Meehan

Matthew. question. Hi, Meehan for Thanks on the all. This taking is for Connor

intend pembro touched supplementary what alone, briefly see the that do you how you. of program, then just commercial pembro has I COVID And can Thank that, effect beyond of the quickly, if on comment but to successful? on And the guess, So efficacy you the you XXXX? response for initial rates contribution just for or above you evaluate alone? kind

Simba Gill

Duncan, in how question take and terms readouts about you do answer Duncan TNBC question? the let want answer the setting we're clinical COVID-XX. on hand pembro. back I'll will at of the with and question looking to And that that we're ongoing I study how combination me, combination the study then to

Duncan McHale

Sure, combination the Yes. an open-label Meehan, an – open-label of cohort combination.

response we historical that overall what we within really or So rate are comparing is the with the data. objective response cohort see rate

be So, we're over the to of increase what XX%. looking of significant really historic rate X% sort for a would sort of

the data response, at than alone all some data also the and here, predictors caveats looking in therefore, pembrolizumab suggest We're the would that at and of a that So a conference response. EDPXXXX historical the of time. we've of response where be some the pembrolizumab, of would minute, upcoming doing with of biomarker sort the of the XX% released at seen as more something is pembrolizumab than combination rate better is, with

Simba Gill

So Connor, hopefully, that was helpful.

your COVID-XX. It's for us, power clear That the other way Connor, question vision public not patients something clear question answer delivery not is the effective that been the would of stages outset, up which all for We've oral but true to a populations may new affordable. biotech affordable all incredibly a profile may our for safe, is and you create point. incredibly and on an is me globally disease. companies. The it's is possibility definition enabled And things. medicine company, other which question convenient which very because that we've company. that to of very all a our about or at know, which affordable of us, Let And as reason for the SINTAX, which in with always we from only other also vision addressable of opens is not founded we be by been of actually on a and very for straightforward be straightforward purpose had create since that profile

some stage and inconvenience the aren't the for to So part, of example, as around back prepared reason for used the reasons, moderate going to or patients tolerability. cost, inflammatory some with linked as antibodies comments made, infusions, and – for earlier linked well of disease safety example, as we the in on and clinicians the concerns, to patients mentioned, potential injections we

the affordable an just vision we're We're going always in which we're do straightforward. large pretty it's the have, us, on that's and patients on we execute was what for to basis. COVID-XX provide for So to assuming to medicines And plan very successful. going

Connor Meehan

Understood. Thank you.

Simba Gill

Connor. Thanks,

Operator

you. Thank

Our the line of from comes Cowen. next comment from or Chris question Shibutani

open. is line Your

Unidentified Analyst

Good you there? as you in times? is in try the for Thanks Pam comment the get the Can specific encountering? on what psoriasis status morning. What to This going And Phase on are update. challenges seeing Chris. X you unprecedented you're the field is what for study these

Simba Gill

good to hear Pam, your voice. Hi

to clarify, recruitment with Is you of and Pam? question to that just So what relate that type your referring to question, your were issue?

Unidentified Analyst

Yes. Exactly.

[indiscernible]. Just

Simba Gill

Yes. Yes.

are – as dose-ranging Phase to initiate said, we looking So study essentially the shortly. we formal X

countries assumes We we're sites we to working be through, our have haven't dynamics uncertain going be of the slower as we guidance working would is by situation said data next obviously, across – okay. linked giving, anticipate across we've of that recruitment to the a And it's conservative multiple get going to that, we time regions look Having it's than Pam, global, Pam. be a in sites but Europe, result provide together multiple see. middle those got going are to different recruitment. the in is which, total, at in to otherwise on the we're sites of And you which clear spent as done What year, in recruit, and to certainly, done with we've looking know, if the we to all confident the times be able U.S. we're dosing, interim which to across is we've the look yet we're guidance, up CRO, different we and at what at normally lot very started so sites, moment,

of to some by actually well. that current in the that mitigated And sites. flexibility the the as you'll from study, risk we have the just environment of of that also is remember more increasing number size the obvious perspective We give us increased

and steps Pam, conservative to what said, of on to not our field actively sites terms help the guidance. CRO, right we we've to anything much as recruitment, even confident going in living our now, have done we're we're to more predict right given now, able comment, taken be be we've the And to recruitment with able to right we as recruit we're not could region. because recruiting with So, it. the going to work. now on to And are we're depending we're one hit potentially able beat and guidance but being have in we as believe can the that we're I Practically, continue

given And what open happen again I so that's Pam. a with sites. to, sites spike open any moment mitigate obviously, given hope might against to in aiming multiple trying up we're up to in helpful, time. at We're geographies

Unidentified Analyst

XXXX likely be will helpful. XXXX, atopic successful properties what very dermatitis can ask XXXX? I it If remind others of or like make that follow-up can think more you It's you XXXX us than a on in

Simba Gill

say a Mark let science. of the get couple I'll and things, into Yes. I'll

microbe be a all different terms expand system on. to is We microbe suspect on that atopic leads clarifier, They're different for one are marks, multiple the each pathways in model prepared just and And discussed is programs in pleiotropic as are about that the our resolution of way to he'll HPs in inflammation Mark leading is which and that I pathways, resolution. look at they inflammation we inflammation impacting. each cytokine working to dermatitis Just broadly, all the clear. think

need Mark asthma, a atopic broader model dermatitis cetera. answer fundamental an unmet diseases also it's moderate et terms scientific for including food So, from but perspective. it's indication allergy, beyond, the HPs, in as more for of and question let I'll attractive fundamental a

Mark Bodmer

Yes.

EDPXXXX terms of to the So, – atopic attractions of in pharmacology, are not dermatitis. specifically related the not

models. effective the inhibit they very abilities is models, comparison quite but systems. productively different a effective. slightly have preclinical of to So, that's We're in with preclinical for it in the and what's that in And variety propensities proved EDPXXXX interesting different actually is

So, they the capacity. inflammation have both broad resolution

like but antibodies. So they're – pathways, is targeting don't pathways. These – these not are not targeting not like this overlapping think they're specific of

pharmacology, into we're what from you and pre-clinically we're at what So, like, we're if translational looking the optimizing seeing seeing clinically.

this formalizing different ADME isolated of is gut, only to aspect microbiological to we fact are as It thinking when activities. not the skipping effect. in these pharmaceutic rest. component host what nonviable to also confused the think we deliberately actually with are And ability it's These EDPXXXX, EDPXXXX about properties we're or withstand, radiation. other has And as big EDPXXXX. its microbiome of the as Pam, selected a and said by acid. it directly it part very gets of microbiome terms The so And acting you're It is directly has field. in and have of on, and different first the doing gamma properties which way different early different on acid things of its intestine. bile in whole aware, small often, was in and to was there's properties, the the for drugs no that agents improved step sensitivities a a was our product, cells that non-live particular microbiomecology activity but is actually – organism acting we talked

new a strategy – the field. to is So was this

exploring the and of are microbiological and would the And properties. we of and overlaps between XXXX. the distinctions range range – the XXXX pharmaceutic pharmacology it's So complement

as explore going that different used to think the And of disease comments the that actually, indications as them range Simba's chemotypes classical I into, the of that, capturing to broad types range potential different in – of of different using well to get continue us the around we terms, both about need different the in to products can we're agents forward. give can range we SINTAX we as expand be go getting indications. to drug do

So, or question EDPXXXX don't have dermatitis, better of be that's question. whether clinical in answer worse but the question specific EDPXXXX that the yet, broad atopic to we the question of we're breadth really models, of having but the in go striking pharmacology overlapping, that some preclinical models the gives in the divergent clinical which than just a will us after. And range to is after

Unidentified Analyst

Thank you.

Simba Gill

Thanks, Pam.

Operator

you. Thank

question from Our or from line the next comes BMO. comment Matthew of Luchini

Your is open. line

Unidentified Analyst

[Jen] question taking This congrats is Hi. from for thanks the on Matthew, on for and our Two and me. progress.

you could point guys pricing a you remdisivir outlook a long-term including So about benchmarks And the from guys think thinking about the I follow-up that you COVID how Could perspective? cost? how And that. – commercial you any thinking treatment? after are for you to are are guys appropriate, have

Simba Gill

for on progress. Hi comment for And questions. thanks thanks the [Jen] the

pretty X over X the the over months. clinical the we Mark X formal XX important – progress. the a your I for few is to now on you and months made made comment and release our] comment we've progress just is your of to just the because point were fundamental are expecting next [thank back press actually Just to to that readouts last ago, XX actually well remarkable, reviewing days

So, thank that. you for

it COVID to response I On the in partly Connor's my question, answered question.

patient all very with globally is to disease, we medicine. at which medicines, one that So want said, affordable importantly, large of stages repeat and safe, on deliver very effective, we've what convenient always populations to and that help just

of so essentially cell be because the be commenting we're that more large to pricing always drug can goal We're the allow commenting of assuming to in our to to extreme, beyond manufacture that it able an market's price would the been be very us We're price that nature affordable at this which So for on an not fortunate to flexibility. patient relevant antibody of drug. much we at an a links But beyond to than And stage. very affordable efficacy, populations each has or that product world, confident effectively pay position gives scale, basis drive on a the around you therapy. the add lots and ability we basis, accessible will the not cost that.

Unidentified Analyst

be And for – a III? not moving on to Understood. Phase is if this there trial, can trial gating pivotal any factors

Simba Gill

For the COVID trial?

Unidentified Analyst

Yes.

Simba Gill

TACTIC-E X/X we trial trial, – is Phase so it's trial. a called, So two in COVID U.K. just And U.K. U.S., for Phase then approval have which we X got The the the trial. trials. a

and I if the to U.K. of making that study fundamental take not the to them linked a or whether difference to progression in structured reveal So, are we order, is linked mortality. disease

able And additional generate obviously, We were have so be obviously to look generate case, is study, we having for to need studies. a but data. to do data form to any the if best we an quite but it that conceivable, in we'd positive through the some data, generate without to of accelerated approval,

Phase have to The very Phase trial, agencies. regulatory with But X the is as have U.S. still X/X We study. deliberately study a as up the discussions study. a said, I is

rapid of to positive, X. in] rapid allow world an So, data terms uncertain we set of agencies [aide to assuming situation. that in progression the effort regulatory go in summary both will try Obviously, U.K. situation, given potential we're expanded up how need they're a the basically but approval. approval an in we'll at all the have, look an that's that's Phase And into and to again, accelerate

Unidentified Analyst

helpful. Got Thank That’s you. it.

Simba Gill

Thanks.

Operator

from Chris comes or from [Operator line question comment Instructions] you. Howerton of Our the Thank Jefferies. next

open. is line Your

Chris Howerton

so questions. for Simba, for taking me, Great. a the just Thanks I couple much guess of questions.

fit move in the thinking about for we're this take CMC question strategy the announcements cancer. these just us have First had that within required any activities course, scale considerations within KEYTRUDA your up of conjugate, Metamatics does the working in runway, so taking oncology might of obviously triple-negative might that opportunities all, of of how be maybe morning in any near-term with terms understand respect some cash respect commercial And describing? or questions. some your help vision be then towards the for to second with more landscape? quickly Thanks broadly, the that we've to would back-end antibody-drug other product breast I to evolving And then,

Simba Gill

Thanks questions, for the Chris. Chris. Hi,

the first over sufficient the the on have provide have put patients initial one, million COVID-XX provide, but we a implemented XX million not already a to investments we your product we million been up. essentially we're with So, what until everything for patients. to made, that for measures going we've next ready, for linked XX already obviously, million the allows Chris, of to lined XX to to to said, as year us approval, number in answer XX And position have spend, trigger of to the on already have patients I course product question. to pull

that's factored in. that then accelerated next approval, basis If first an the question, on be be already and year to previous to wave were So get up. of could which, is supply we an lined could earlier

million XX to quickly XX yet that do get patients, to positive were result. ready that million that beyond relevant but Going to not we've we obviously, investments, if made the

until of was given of preparedness. we that this knew where in April And give going we us of what up that that that's none are be COVID terms it's become So, year. around to March, scale very quickly,

immunomedics on in we different linked very how complementarity on nice and that delve We in and ourselves think there's recent the data, TNBC your to fitting space. approaches. KEYTRUDA So, between question to product TNBC see

simplistic it's level. summary So, a

the I. Class relevant chemokine And of to checkpoint often in and removing One others, we approaches immune as relevant that activating products, parts the of generation upregulation various reported have exposure. very antigen applied K well as terms Chris, and/or activation amplifying to were as of of seeing would Chris, needed or in needed of brake is nice are looking T to as going actually whether which kill of by microenvironment immune tumor. increased be you infiltration a know, tumor the we're KEYTRUDA on inhibitors, come pre-clinically, other system tumor populations the populations, levels the that others and increasing it's to is the anticipate and that, that's populations, where complement increased relevant essentially cell know, the the response, in And antibody-drug required. As are we MHC recognize the you The what immunomedics the basically. and and macrophage third conjugate essentially at and neoantigen cell any tumor

So, complementary which going blood to brake. were all conjugates, the checkpoint with which of impacting very removing and antibody neoantigens, inhibitors, is all be that are

So we go hence, forward. other things therapy from first-line as to again, be well Duncan's and comment down have very opportunity COVID-XX we see added fundamental be To we've a to foundation which oncology basis. can last-line that again, a also, nice got tolerated affordability our safe oral, the actually benefit being point the question. because, the to that relative in all And back on products are can the

Hopefully, from patients given means establish a that been that Chris. we, I've foundation And that ourselves the a to as I So Chris, people lot the That's question, properties unusual other a was a appreciate be early-stage a intent. position. described actually could And answer, because strategic to things will just fully pretty late-stage which always that's appreciate that. added. helpful of don't

Chris Howerton

a just slight Yes. I clarification. Perhaps could ask

What looks of overall in rationale that path us the what development I agree, label clinical think understand completely terms would potential describing move this mechanism, And right which and meet you you're and, help fact, setting I understand that vision how maybe in would So, kind be of in would anticipate like. a an approval? but expansion the guess, now? initial the to

Simba Gill

that Duncan, Sure. to want you do question? take

Duncan McHale

at initial seen single the I I of are of Yes. open got This label. in demonstrating one is Yes. minute particular mean a activity. sort clear sort we've you've the think antitumor that because studies

of within and once think got of we've sort you pembrolizumab, the work options So, to blinded move that positioning a early own combination, Simba setting. of with study our have of but partners prove sort evidence agent the just in type antitumor steps EDPXXXX think, activity rationale but sort in that as sort in a set effect the think sort patients demonstrate study, likely that would would into with I sort of at the we of of actual about was, and then on combination be before I treatments it's similar monotherapy. clearly, we that study, as I the of was breast do strategy blinded the space an a forward, would be the treatment cancer that, the next we we its to talking of triple-negative will then go in to therapy about, look what that start with And have

Chris Howerton

Got it.

well of questions for are you hope the taking all Okay, much thank well. you so and Thanks.

Simba Gill

Chris. Thanks,

Operator

to questions closing over conference turn Dr. the queue additional time. to I'd like Thank you. Gill at remarks. no back the for any I'm this in showing

Simba Gill

our with us. wanted and for forward for busy you very updated close Thank Evelo a what just So, is keep very to XX following everybody it, to you the to thank to of on contact commitment Appreciate in be months. staying continued progress X in much. going to and look and all you

Operator

thank concludes Ladies you the for and today's gentlemen, participating program. conference. This in

disconnect. have wonderful You may day. safe. Everyone, now a Stay

Evelo Biosciences (EVLO) 2 Aug 202020 Q2 Earnings call transcript