EVLO - Earnings call transcript Q4 2020

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Operator

Welcome to the Evelo Biosciences Conference Call to discuss the Fourth Quarter and Full Year 2020 Financial Results and Business highlights. At this time all participants are in listen-only mode.[Operator Instructions].Please be advised 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

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

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

Balkrishan Gill

and Good thanks morning Thank for everyone you Jessica. joining.

recently a evaluated today, positive of EDPXXXX. that a cost. immunity designed fifth clinical an and Phase reporting we preclinical intestine the call. in acting a EDPXXXX. details model of [ph] suggest clinical we December large and growth of new more formulation and These relates small successes is a of for of series you shown the the Phase and series great over enhance years, clinical for or ThXX reported of a on And are four the with our Xb and is ability new, the our not the data major drivers year to axis the EDPXXXX. in last in medicine will and the broadly about of oral immunosuppression. you and medicine scale with and clinical our and progress three plans anti-inflammatory months, human the have tell work to data Mark the only tell generated Jonathan later tolerated execute preparation be intestinal the that results its of effects with announcement Today's easy positive to This over experimental inclination of result X low well medicines next showed will efficacy studies studies manufactured on small lead And throughout take, data Most may the we EDPXXXX SINTAX Supporting Over change effects as to time this of of ThX, moment. we set a to in clinical trial. the concentrated cohort trials. more XX to investigational well clinical driven within over EDPXXXX our the EDPXXXX, Evelo a potential from inflammation ThX candidate. of safe biology, dermatitis medicines last Atopic effective, be which patients body. clinical January, tolerated medicines in but the SINTAX we without potential presented inflammatory has have with clinical disease. inflammation ability

other our intend we to dermatology potential the beyond and EDPXXXX programs far broader inflammation, EDPXXXX their arthritis, and in inflammation inflammatory EDPXXXX Importantly, go expand of areas and bowel asthma, diseases. and including into

Hohneker appointment the in drug fund and in across we building successful develop quarter development, to our vesicle leadership launches in directors. had EDPXXXX, Company, inflammation, third Beyond past of of programs, wave continue hiring from into we the the the John potential development EDPXXXX oncology. We've oncology strengthened at Chief have commercial clinical and our regulatory also deep our Zung bacterial Officer execution sheet of oncology clinical study be to SITC next to Data and capital lead John milestones foundational program. preclinical and Jonathan the inflammation immuno Both a Development highly balance and recent track November. approval, extracellular published has XXXX. our to company of records of of cancer. have treatment to board In a our Jonathan and as expanded the the a and was

Our X for of a of main a dermatitis, begin to EDPXXXX to objectives EDPXXXX. initiate X of trial Phase and X are; in first, Phase Atopic psoriasis, also preparations in to complete EDPXXXX trial a Phase trials

to continue beyond anti-inflammatory we're medicine. separate looking a to is generate EDPXXXX results to current progress pipeline with a including clinical EDPXXXX, clinical where Second objective

manufacturing drug human The turn of to like the trials you? summarize I'd of third then experimental to Mark will ready to plans. and to about our will data clinical who XXXX. Jonathan clinical over Mark, and be who to objective over complete call model our and you talk inflammation for EDPXXXX, is on a a candidates oncology to to in vesicles inflammation extracellular preclinical development and

Mark Bodmer

Thank you.

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increase observed superior we if we the classic drug, of response. dose effects, experiments, concentration preclinical Now

patient's is option necessarily to only dose the the far, that to more the alter the ask capsules. to So follows, that ingest had increases does we've total clinic people not increase the though, This emptying in the that small intestine. We've some for humans is the in This there from is than activity of dose for because concentration stomach. drug capsules. more response suspected simply giving the to more gradual in time dose

responses. with though psoriasis Even of group patients the took the took and XX. high low day recall in the result results in Xb cohorts Phase dose you two If similar doses a trial, and clinical capsules both in our other one

strengths the capsules the in subjects placebo, causes clinical from were antigen, EDPXXXX. same days inflammation A XX model. with which human treatment a were learning immunized XX oral capsules in inflammation inflammation same XX the So with EDPXXXX Prime given antigen experiments. of results, a the challenge subjects Volunteers compared of later. preclinical skin skin day we were with measurable use we After of given head-to-head preclinical EDPXXXX two or

placebo total and effective. of using in capsules. same groups. dose Both AX higher concentration were the treatment received A given drug our between two were And subjects who divided the prime XX fewer subjects AX eight Another EDPXXXX the

is get the and expect improved compare all color basal of press blood including the release capsules over resulted Prime of an showing of to concentration and in a AX across we laser conference range the clearly data which of you higher that by be fewer to see In we're to figure to the I is into plans pipeline. EDPXXXX. of this apply include like will accompanying over you in differences AX understanding and A call, AX skin swelling, measures numerically Prime the full product even superior clinical the that be with A EDPXXXX medicines. more contrast we expect reductions inflammation, translate to repeat this given effect our show other Five flow redness New imaging, a of key patients. tablet better Jonathan? readings in in tell will over in how EDPXXXX now Capsule in this And able used Jonathan To clinical to with XX about trials drug what to we future from other formulations what learning call to candidates earlier, ever turn advance I SINTAX next concentrated scores quadruple months, our said clinical skin four today speckle inflammation scores. and of flare, the

Jonathan Zung

closer Thank I'm potentially of we development and you, later patients and join Jonathan And Mark. Officer Chief the bringing stage medicine Evelo at modality Development to good excited Evelo. move to I'm to everyone. around a world. Zung as drug transformative new morning, to

clinical I've the various UCB decade, and stages across to Squibb, and last Through the Bristol had Covance. all privilege areas these of the organizations development. operations roles Myers I've at disease Over worked lead

Simba As catalyst of a we XX ahead mentioned, Mark us. and months rich have

and studies. means on we programs used focus setting and identified the EDPXXXX, dermatitis. doses For have Phase for stage Atopic psoriasis is registrational formulation This be will in the in appropriate ensuring our the that X

EDPXXXX in Let psoriasis. me first discuss

the psoriasis of dose remarkable Phase completed has trial This ranging challenges. enrolment ahead Our schedule. quite is X on given COVID

we of readout Given the top the forego speed in of of the this year. for report patients recruitment, cohort and third interim line data full the will quarter

the three mean Prime EDPXXXX in primary approximately endpoint capsules, reminder, XX-week a percentage the PASI change The evaluating A weeks. score of psoriasis. is mild-to-moderate placebo trial versus at a with patients in XXX XX As doses is in this

a of and reported and endpoints psoriasis, range both scores outcomes. of clinical efficacy, patient physician include Secondary

and AX most select capsules also and appropriate for of of of days, AX trial. formulation Phase be the formulation. concentrated allow will patients benefits concentration cohorts daily will determine on placebo. to Xb the and psoriasis, versus to the effect these and be The purpose us formulations in three using of is to three more mild-to-moderate Phase have a extension also on characterize or EDPXXXX tablet followed The once data the X capsule Each tablet for XX tablets will participants, an cohorts our XX will Doses capsule using We a any further higher follow by XX-day up. evaluating cohort either EDPXXXX with program. potential the X of XX

first begun in and we is so four in EDPXXXX, of of the the formulation dose. quarter efficacy The called anticipate AX tablet data third with has tablets, evaluating Xx the this cohort year. a Dosing

dosed The with the single a will subjects than be AX will second Xx efficacy but dose in AX Xx be information results first EDPXXXX of to the position one in in evaluate psoriasis formulation. along tablets be a dose. a Initial Phase EDPXXXX with year. cohort from go of in cohort these tablet capsule Together another the the second available X will quarter the the data three four optimized evaluate from us EDPXXXX comprising the will daily of X EDPXXXX. into formulation, This tablet, and and a Phase the of trials rather The cohort, QX second efficacy in cohorts dose. of formulation anticipate We will will this with this capsule final forward initiation cohorts study. third an

activity physicians reported with to Atopic dermatitis. and Xb a in XX% of Phase disease January. EDPXXXX data and easy SCORAD greater positive and measures showed on versus IGA All announced times BSA placebo. Moving improvement We confirmatory than EDPXXXX treatment

areas of adverse treatment important no or tolerated We itch. serious also including was EDPXXXX with events adverse and this sleep cohort well saw in improvements no and the patient reported severe moderate related outcomes intensity events. in of

of use track in on and in will this placebo are Atopic Phase This be multiple blind dermatitis a participants X moderate initiate Atopic It trial will with AX. EDPXXXX, third to controlled quarter We severe adaptive the double the dermatitis. design cohort trial mild, year.

X Phase this provide next details more will We trial quarter. on

During patients the safety mild volunteers studied first to dermatitis. Atopic healthy includes patients efficacy evaluate volunteers. in X also upto with that be mild Phase Xb and patients of study up cohorts psoriasis the and The quarter of a design mild EDPXXXX trial of followed and X treatment will with of follow this initiated a with Cohort healthy Phase year, option dermatitis. five will be trial trial. end will we X period, include at will asthma the this and/or by will the the cohorts in Atopic be moderate Cohorts EDPXXXX XX-day treatment That XX-day period. a X of include

in in with that radiation in has from EDPXXXX to a patients models a ThX programs release potential is during Just diseases. rendered it as dermatitis, in robust the can live EDPXXXX I effects preclinical and today. distributed by future track By we anti-inflammatory treating mediated updating gamma calls. you genius programs on we reminder to you non on its about Atopic been other learn are ThX All press different forward look of testing clinical has biology. our our read EDPXXXX demonstrated will

hand remarks. I'll it for to closing Now Simba back

Balkrishan Gill

We and EDPXXXX by unmet with potential and EDPXXXX We've medicines potential psoriasis. of EDPXXXX that to one to biotech the world's just candidate. And reminding is has already not just patients medicines shown SINTAX Atopic has believe a based have wanted I medicine Jonathan. to biotech is major conclude profile the that and for become dermatitis be not Thanks, of globally. most another efficacy SINTAX transform completely platform, the medicines. that everyone another to needs important the that product

broadly course Phase and X possible wide of X of start anti-inflammatory are the for with This dose EDPXXXX are Phase continue making with EDPXXXX oncology, to our inflammation. for inflammation. diseases is Our EDPXXXX. of will you. reinforce skin elevate extracellular study, in portfolio our with on and Phase To programs, and our to an its in Xb Mark unchanged. clinical to apply we the formulation both our exceptional and the to even program psoriasis the Today's more expectations on based told efficacy you, further. what results team EDPXXXX, of optimized Evelo, we and the will whole XXXX a data And potential remain apply much with we've work the vesicle expand What portfolio external across to new for highlighted the all we EDPXXXX bacterial platform Evelo applications. and today of at because And Thanks range strides partners.

months forward ahead to a now the We'll our have XX you take look questions. the year. during updating We open rich progress of us to data as and call programs

Operator

Jefferies. comes with Instructions] line Thank the question from you. Our Chris [Operator first Howerton of

Your is open. line

Chris Howerton

Excellent. broad congratulations Good for morning, taking thanks and and the very so questions the progress. on much

Balkrishan Gill

Thanks, Chris. Appreciate it.

Chris Howerton

Of yes. course,

that target correctly, the if of the And guess, how higher was inflammation had about question observing, recall, levels the a second that team I been thinking as work in that broadly, formulation all. I I organism? what you're to ever formulation? human model that's And gamma, cell, that with good So for? terms in probably form efficacy it it perhaps think, in first exposure you done? with aiming more different of published? recall know, respect I a your the I question that skin an would guess interested that's published of the respect you're that, these of, any you that concentration radiated correctly, the had experimental is respect me. it kind ideal I and excuse have you're if a is What Is to been is bacterial experimentation factor I'm recently, product this to learnings is in of one out particularly think And terms a for there. product Mark, design, you're This this profile at Is doing drug that vesicle? that with extracellular and is kind Has to developed. I a is

Balkrishan Gill

take take you and do to the the first Mark, want I’ll question second?

Mark Bodmer

good. very yes, Okay,

Center in for have in and other in a thing DTH websites. where could a you Research in of the So, on was collaborators But Netherlands of around are been publication publications hasn't experiments the our Leiden doing used the they Drug agents Human at developed skin and have posters there these human where dig the been model old number there this. formal

they've of We they on will with partners publishing be some that with well that delayed the be hypersensitivity they've in them publishing humans. And on But this. it. it's the may worked other

protocol, kind there's one testing. particular not precisely this was this to there's that at new develop experimental that course, they Of unifying we're medicine look to not of do

Balkrishan Gill

take Okay, me the first question, let Chris.

the with a EDPXXXX, product with will thing formulation, is most very that forward. as the and that take important So we're in confident current we something have

move we of said speed going X with we're ahead So side and into full to intention things. Phase the

Next year, that in and to further improve efficacy activity we're Phase Today's we'll X fourth data psoriasis already, and very without product. we've the very results him feeling soon now impacting in gives the Phase and the easily lead study, obviously announcement, that, the seen the get beyond very confident ability results. on meaningfully great X

term Chris antibodies. had we product. the exciting in to move form of there, have And a we always and is So since From said see very Mark is similar current as the experience the this intend core perspective, should forward. that very that what its a XXXX longer to we've beginning point is I

to when was we at mouse we kind of kinetic up intestinal that of both small your And world axis, [ph] know, a biology the know, work so of we scratch then of antibodies, antibodies. their work. antibody involved if Celtek both whole medicines. area beginning It's and the was in Chris, have one that, we team Mark together, again, which a started monoclonal seemed uncovered the grafted world. about of existed moved ago, antibodies, the as heads And is to As moved first years come also first before. in I for fundamental with lot And edge groups will we cutting with new the you the continue, were Mark we're fragment old, Mark’s our so you working and never plus -- CDR we you a target

we far improvement. when What and to going to and we Genentech. beyond started be go innovation there's So wanted said that was continual the we company, evolution

if is $XXX the first leaders getting actually make capture of the those we and valuation, to the but use company you want billion sure always intestinal we're So open to to it’s small up world crude want the the to axis. We terms in opportunity. good, the breadth

that to invest, we're in context, to going continue So Chris.

remarkable We ultimate affordable. there XXXX. an result we product very that was EVs would as take certainly need to which of have do tolerated, the And we bit get the a work be important XXXX. whether that's And to a from very time, drugs antibody got things an interim, in that what far that in towards and beyond highly effective ultimately. but point, our be that'll that product Chris, well oral, can it's we'll we've in above goal, is get expect goal great to safe, would that a And always been to a goes or pretty other efficacy, that possibility, that like a obviously

Chris Howerton

so fair. right. in I'll very All hop I'll, And much. Thanks Okay. the queue. that's that's, Well, back

Balkrishan Gill

Chris. Thanks so much,

Operator

comes of question Matthew the line from Luchini BMO with next Our Capital.

open. is line Your

Matthew Luchini

Hi, the question. good morning. for Thanks

new I what should guess see in I also compelling. relative guess you about over the the moderate has the Prime? how patients A expectation today In data such understand to So that we diseases. the would words, for patients severe so you advance inflammatory formulation, you'd focus relative secondarily, and that Evelo to curious are advance And [Indiscernible] presented your previously to benefit certainly that expect like looks the you of A just not And cause think then AX would I not model the inclusion on for mild, just Atopic as Prime? is other dermatitis, what on both AX over more something on been mistaken

a why, is amount a it’s into as get So little good of to what thinking competition? move entrenched the sense Thank where population hard there's you. to sort certainly of patient this there new

Balkrishan Gill

you and if Mark, Matt. the want question, then take first you to Thanks, ….

Mark Bodmer

Yes, I will.

this important That's with the the AX reducing material in So, in very Matt, moving concentrated scaled active X resulted the the It's of a of part the drug, very that's formal forward I rate the drug the as for scale, Phase drug as yes clear. to commercial of the concentration in result in question. do. material. in same ratio from we're up in we It's drug the processes And capsules. the to improvements to right accept interactive thing call, said comments active

future, that going material. clear studies with to at phase X into the absolutely telling Atopic was and And we're about, in tablets, capsules this. done dermatitis it's look with the they're be that AX that you doing going move Jonathan to So, the study we're actually will all the forward and

Balkrishan Gill

Thanks, talk more Atopic Mark. on Jonathan, patient the want dermatitis about moving segment. And you question Matt's severe to into

Jonathan Zung

sure. Sure,

that really trial, in the severe So so the saw we're exposure X to population. good we behind obviously, logic looked moderate participants, can is efficacy mild exploring study, of we to patients that Phase the but In be Phase patients, in Matt, primarily in at those understand to also X the to we XXXX. Phase X true potential study going have more moderate want the for exploring we

of of likely really look better XX%, be we'll XXXX. but most patients participants in on will at be moderate and X it's of will the So some Phase understand the mild those We'll the at look study XX% to profile the patients, severe. side,

Matthew Luchini

congrats Thank enough. quarter. the you, fair on Okay, and

Jonathan Zung

lot a Matt. Thanks

Operator

you. Thank

line comes Matthew Morgan Harrison Our the question with from Stanley. of next

open. Your line is

Matthew Harrison

like A like guess. ahead comment could ahead to guess and are just different continue not for which, questions. it of sounds the I just going me, one I two great, which for Hi, Simba these a clarify good parts move and prime taking morning. I you're It going you earlier. with you move to sounds you that psoriasis Thanks formulations AX. to with made guess

you you diseases for that about just So there other second that clarify And indications? I you now might the now in is which just last higher a you made. similar the that is was are maybe think have could previously on the question, potency unclear you maybe terms to comment about me. guess question that of Thanks. formulation, then I didn't

Balkrishan Gill

Thanks Matt.

Let me them Matthew. take in order. reverse

started we inflammation intestinal new up idea looking on what space So profile company of the with we terms pharmacology, open believe multiple inflammatory that the had poly at something was we was And very medicine, the oral, in of to immunity. which completely well and something that small we without that down something we different pleiotropic. shutting on might, through something guess would pathways and be so tolerated. have given axis, resolution, in the from that safe cytokine a I that that acted that, drive was

the our desired profile, inflammation. particularly because could across already. than and go the basis, always faster obviously moderate our forms we breath there's we've goal even manufactured broad and something better with seen was gives very new confident in and we of have readouts, the Matthew, know, been of manner. developed a rapid all an in started state goal more even diseases. enormous what milder the data affordable could be to us a the of dermatology But unmet that fact see need, those as in you The that has approval always on capture of something And disease to We if the rapid inflammatory

think it broad inflammation And be agent. so doesn't attractive, should something confidence actually plans. that resolving a Matthew, even gives us that our I change we more very have

we'll we've the asthma we're look something planning psoriatic into the confidence the terms to obviously, and we'd But rheumatoid anticipate of we'll see Matthew. of anticipate, look that on of expand stepwise Atopic got that level at due that next arthritis, expand xbar to today's syrup, disease, already continue result example, and consistent part for to So we'd biology gives with axis, we in of in definitely course, that to the arthritis, introduction. then full that us breadth profile and arthritis

expect we the HX in see I what what QX given today's just so tablet with process. we we get forward manufacturing question, first we'll result. That's with move think the on Mark results will versus And capsule. said

study on QX, yet, in get next also a to the of get of data addition forward versus We'll then on patients psoriasis, data we'll that psoriasis and which data X the data, driving will capsules, in full additional all make decision, wave further get forward study to a certainly they improvement as have in the QX. in in to study. formulation. X the Phase that We QX. Jonathan's exact formulation So don't we which data tablets with And get Phase get into in even we'll driven relevant take We which Matthew. see that possibility tablet we'll

data take best the reveals. Phase Matthew. to in a whichever very formulation Thanks And the as we studies go looks X helpful, So see position into what we're we'll forward.

Matthew Harrison

Thanks. That's perfect. Thanks. Simba.

Operator

Thank you.

Peyton comes line Bohnsack Cowen. Our the with next of from question

Your line is open.

Peyton Bohnsack

for successful my on Joe. a question Hey, guys. This is for Peyton quarter. and really on congratulations Thanks taking

you X see? to Since do evaluating? plan or you. the what of percentage on if any you data question elaborate you'd on Like was like Atopic Thank more you in you're are a decision what kind to you're endpoint I really your change to not also and patients, more is like the the what enrolling change could EDPXXXX more show second in targeting change severe see interim PASI then in little wondering dermatitis study? endpoint So the what And Phase program.

Balkrishan Gill

Peyton. Thanks the question. Hi, for

PASI, current look we at is historically, with that we've what first the way the said still on on So question the consistent situation.

psoriasis we from critical commercial to know, is date, at which seeing a is the as is percentage the that be has placebo, in And which so at. So of of target a first where know, that's sure far, safety, not a side available look Tesla, of a dread any for PASI the you significant not similar from thing we're target is factor to and patients. case quite I'm have perspective is the differences you doing profile scores obviously terms will a only on well difference for perspective things, oral versus all other and to placebo tolerability where, therapy and at from issues remarkably Tesla, which in in tolerability PASI population maybe us to tolerability attractive milder safety is significant Tesla

be of a safety very So efficacy within range a we that with. we have broad then with something the Tesla profile would with have, happy

versus to weeks So that that be better the and XX% or of And range. very something your around we'd thinking the basically. happy question on then PASI in improvement anything confused in straightforward. treatment, placebo, in broadly it's on that is we'd something that. very better as than XX%, be happy interim, than after state translates Whatever obviously to really And XX

reminder midst the So in pandemic. studies, just of a that, kicked we off the these

terms as like terms the for concerned X we early we well internal giving data on we Street sure everybody, in at both In eager to about we're as Wall Phase as reasons, were make of pandemic, beginning get the as recruitment, possible. of of the study guidance very impact could

which Duncan patients, turns a basically would to recruited. that out, credit us been in plan weeks quite a the we if we've to the as to Jonathan the place wasn't as and remarkably, midst of of a, recruit out, and potential from Jonathan, clinical COVID. And be XX said, so teams you would read it and as want, have It able put hedge, XX% we in clear because interim

given get was an can coming the soon we intro. that for in up fantastic that's need study full given obviously in QX, data so be a place That QX, no so the was and easy which that, let's logic. to is have fourth it the decision, the And

Peyton Bohnsack

Atopic on see the And cool. We differences baseline Okay, in dermatitis though? program. any

Balkrishan Gill

Yes, apology, Peyton.

So, no so changes. actually,

said, in have what Jonathan the moderate the look Atopic dermatitis more is we're target but even As we space in the want to open population, situation. and one of in and mild initial psoriasis core than the Atopic that severe also a dermatitis, doing wide at remains

there time talk because the to of effective one enormous have it's Peyton, know you we things no market want agents a of have, them. topicals a have They to number sticky of apply the to stinging. often them some are as the in They majority side terms of but topicals unpleasant they effects, lot, they can So about of that them be It's hate often space. of an because don't patients, require that patients them oral lot to in body. take take

looking And Atopic that we that moderate there's of oral for an have. what the Atopic in that's that is mild. in with huge been effective, safe, maximum. And nothing type dermatitis so tolerated, everybody what in and well And else has profile dermatitis

we or be is So, the that given Prozac again, things like have safe, we that Again, well something as expect. like into which efficacy and have we to similar approved, was had you competitor that nearest something better, like, been recently was see having tolerated that have something [Indiscernible], would great something we would the Chris we what have, potential. very

and you January look if that it's you type that I in perspective, confident encouraging, so data on it's, right about. to effects. Atopic terms is inflammation, December, the And based that and target. we're the it that of is from mild happy again, oral for dermatitis of resolving tolerated think space well open, know, we looking and likely at dermatitis we're very as above wide extremely effective that competition our which in So Atopic there to in drugs we released going are now data we're get moderate no safe And

Peyton Bohnsack

the queue. very in And you thank much. Cool, jump back I'll

Operator

you. Thank

Gobind the of comes question with line next Singh Our from JMP.

line open. Your is

Gobind Singh

wanted new? for in to understanding that we of more XX the similarities? And redness? is any you. being significant? How Psoriasis? bit the guys more thanks of factors learn anything questions. Atopic that some new is the flow basel showing this XX terms any opposed the should kind the results little How? are How these a of these taking good there to could dermatitis And everyone. the in new the and one and am about flair times to should if that here here context like understand as we used there's are Did you be previous results you Thank showed in a results. And results guess, on little I And concentration dig cells of where correct I bit a to Hi, talk morning you here.

Balkrishan Gill

level Thanks. want that We that the understanding of you you would Hi push try that Govind. that the guess fact that is to towards and appreciate gaming.

do So Mark, questions? those you Govind. that, for take to thanks want

Mark Bodmer

Yes. Sure.

because number cell equivalent So number capsules, the concentrated. it before, A, amongst was Split used of material cell was the the And there AX number an we to tentatively more the would was be hydro for it's roughly capsules. a XX.

XX concentration. day, to it I that's XX straightforward of different And answer fairly so I that's question, X a the subjects, because which be different was by the to capsules per all EDPXXXX think in a think will number gives that

on-going This much So here, study a set are fuller Govind. an we data. of is reported

so actually which study, comparative some what to material more did suspected AX process knowing the we'll with And things activity, the the data it, here, prime needed cohorts, were higher probably, we well. would which data the efficacy taking of first clinically of but with confirm on was, probably we've whether and now out going concentration give was in was we happen the finish from evidence A interest probably was considering we that it we won't, for revised previously. because the reported been we this of active, just so might on-going and originally we've version. which the from And we of as still preclinical based studies, all which the And that probably EDPXXXX, seen

endpoints, it's slightly that because data here range material rather for flow previously. But all same different the So it's a basel study. prime A score score. medium were are of actual a the we've mean reported endpoints the that than score you measured looks a the in saw broader They this

the on with comparison help? what's is said AX the I call, Does that new material. As a concentrated more

Gobind Singh

the with Is there you and any that's, other Yes, there's about comments you other extracellular about seems just the can a very the, from redness. factors. add color guys meaningful that's…. differences, and know But to, a and it are I more data skin I difference you. ratio. don't know be these if that functional this like fuller [Indiscernible] seems ratio talking there's vesicle differences as average was A Prime AX nice. different These Thank to And

Balkrishan Gill

here. should go detail, things to you there separate a are call on want Yes, in have this if various probably in, interesting we into Gobind, it

PKPD new have get higher this particular not that sphincter of engagement relationships So higher in a of pyloric you'll the twice drug the the you've a notion met of terms through of drug, on get force which much, concentration. the a in multiple system. is from characteristics level But if the And of the work got thinking injected delivering capsules, new. intestine, small concentration twice which stomach drives kind how concentration, the higher system, target into at the normally, an you as there's

doesn't from as the it way, gradual quite the stomach, small intestine. work there's a into Here, because said that emptying, I earlier,

I So like too. this

as You you lift much to don't at like, force time, an if object, try need as do you particular move to never enough it. apply work a you'll

been does, kinetics. And these PKPD, fits relationship basic delivery it with which adapted particular thinking how that so a to of work second law of types Newton's of sort with so with principles here, there's mechanics on to our has

Gobind Singh

you. thank enough, Fair

Operator

showing to over call would not questions. further to the I’m for like you. I turn now any Simba back remarks. closing Thank

Balkrishan Gill

much. very Thanks

everyone to increasingly asked positive period. now thank obviously We on profile profile, that's and of began in in call, efficacious, the looks continued to if are year that's added for a not data the something efficacious, we'd unique for foundational tolerated, with have to that, the the an something dermatitis. to questions hoped treatment safe, have. going broad be well but with inflammation And a just as also it's want delivered. exciting already interest Atopic incredibly that So with some we've to Evelo, And that

up about data in year. coming clinical then continues. now and and over the in and our end a QX, that's coming that of We didn't talk quarter, the between next COVID detail this lot of data data have just we lots any So up of

very X everyone. towards trials in So forward everybody to Thanks XXXX. as very much look updated much, move we keeping Phase potential

Operator

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

You may now disconnect.

Evelo Biosciences (EVLO) 9 Mar 212020 Q4 Earnings call transcript