PHGE - Earnings call transcript Q2 2020

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

Operator

Hello, and welcome to the BiomX Second Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Marina Wolfson, Vice President of Finance & Operations. Ms. ahead. go please Wolfson,

Marina Wolfson

and And available and the news update after our this Time available everyone. website@bionics.com. on XXXX replay website. the A release second Investor financial just of today, Eastern AM results conference will X:XX be welcome morning, found BiomX our be to call quarter became can on Good call. of The Section

factual Harbor or begin, would statements that like provision. Safe All I the call statements we deemed Before are be review not historic may forward-looking this on to statements.

mid law, indications conference cash from update when milestones; For press be can on therapies; potential equivalents deposits plan that is unlocking operating using wide cash, and successfully statements to as the in which to forward-looking and instance, clinical applied of phage including differ development provisions, actual The our we're undertake we of could and outlined which statements in to are discuss is in Except forward-looking phage release, of our other on existing the the timing call therapies reaching short-term sufficiency plans the noted and not risks near-term studies; the cause by our results company's fund forward-looking earlier Safe Harbor do to XXXX. these website. required full statements. today's current we range

call will the CEO; Sailaja our Puttagunta, turn Officer. Jonathan. Dr. that, Solomon, and me today are I our Jonathan Joining Chief Medical With to

Jonathan Eitan Solomon

call Thanks Marina. you joining And thank for today. all our

significant this as bacteria The the transformative without of pathogenic precision Bacteriophages bacteria. lead approach, a microbiome driven clinical appearing. BiomX to specific at medicine in modulation viruses phage the can is endeavor making therapy we're can eradicate goal that to be beneficial as is are disrupting of potentially potential used Our unlock outcomes. evidence and technology progress

meet unmet phage has customize Our of which computational identify medical expertise biology, to microbiology, to deep and of to the as specific we well this distinct areas of approach where combinations position as developer a result use is our leading cocktails phage. our potential as in therapy biology or of both ability synthetic needs, precisely

Our complementary optimize and functions phage testing. in vitro contain cocktails vivo phage through multiple with in

a therapeutics commercial with indications novel potential, disease using including bowel developing prescription sclerosing colorectal phage rare and disease, in are cancer. number inflammatory of We significant cholangitis, and primary the

use In addition, to reduce the with or of of C. recent Cutibacterium levels of our acne bacteria. demonstration successful r acnes phage

developing appearance prone phage application On a therapy the acne improve the to of are skin, we cosmetic as skin.

upcoming focus of our the Now I'd detail on the then of We'll development our review like status programs. to near-term milestones.

Our lead the the acne candidate, to is demonstrated a and BXXXX vulgaris. of and which a C. Phase us levels, will enroll reduce phase XX study implicated therapy the moderate effect lesions the and with to positive evaluation administration Endpoints in and X study hundred study. individuals X tolerability, face. acne, designed Phase include over cocktail BXXXX of is are acnes bacteria bacterial evaluate statistically we announced C. acne to daily that weeks. March, pathophysiology the the allowed to on safety of acne profile has a of reduction burden, on of mild In design significant BXXXX safety targeting which The acne

expect in second We this begin of results XXXX quarter study quarter expected to with the first in of XXXX.

clinical can on milestone to the support and this demonstrating deliver or the We the development now recently begin GMP gastrointestinal manufacturing IBD a multiple lower of trials support is to phage of to tract. study. quarter treatment completed goal This is in-house bowel the this phage Xa facility for simultaneously. the track Our Phase inflammatory viable significant ability with of initial the clinical BXXXX to program, disease

by pro-inflammatory the study be in XXXX. reducing shown aimed efficacy study pharmacokinetics and BXXXX animal target report the This of to Phase will the inform study expect the We end Klebsiella data been of evaluating design models. bacteria, Xb/Xa to has Phase of Xa at which safety in this the from pneumoniae,

to The treatment phage XXXX. or the same We PSC plan for Phase rare as Xb/Xa cholangitis, continue the disease, study IBD study that initiate which the of in to shared [indiscernible]. sclerosing to target anticipated the to program. bacterial in Phase the primary the liver results the administered, design study us the of And of orally IBD Xa it's be also Phase allows the apply X cocktail

to deliver for initiation we potential are Phase of payloads study cancer, therapy XXXX. colorectal bacteria work inside the tumors. continue toward to We to therapeutic phage In the exploring X PSC residing in

Our of our to XXXX application for proof-of-concept biology preclinical this results provide goal the expertise of in for cocktails. quarter is synthetic phage in second

can development relies transformative phage on impact. our programs you therapy a the attributes see, opportunities of have As compelling indications. of phage therapy that where Each could indications key commercial in provide potential [indiscernible] with of range wide of these for collection strategic

on near we Phase clinical details we Chief some of the the would introduction Medical to on Officer of Dr. BXXXX with second additional additional the I study, study. like Our on provide Puttagunta, now information As to provide this detail study design. ask program initiation the Xa like would our to

Dr. Sailaja Puttagunta

quarter multiple Xa a course XX at adult the is additional viable stool three demonstrate enroll study Detection Phase U.S. phage would phage the for viable and randomized phage inhibitors of in to reaching stool an conducted gastrointestinal expected volunteers, will single the Thanks, of administered dose environment following Jonathan. be that of delivery in to be over placebo key the XX in of is study designed a this days and The of will chamber pump a of safety lower dosing. to for study receiving tolerability demonstrate and BXXXX site healthy to subjects demonstrate gastric the is X-day This to be The delivery and endpoint end the proton BXXXX. be study this condition point pH a viable gut. the the for BXXXX Subjects the BXXXX will detection the tract. and elevate evaluated while All lower to X is primary of BXXXX, initiated secondary period. over receiving

future and of timing BXXXX In of of levels of is reduction the be look evaluating turn only indications also addition, call oral with of the opens gut, sets oral potential build efficacy study, as design body results target the initial We following in aimed from one and them. of administration This to the the the from of would step in informative development monitoring Solomon. phage. multiple phage forward and up an which back this Jonathan field the BXXXX the phage being PSC studies the our clinical as CEO, phage in Phase not that stop expect at of involve to bacteria future to the highly just of excluded therapy. it art upon the delivery the that but Xb/Xa state help knowledge viable inform I'll other foundation of levels here and for would in of study inform we With

Jonathan Eitan Solomon

I'd results of quarter. you, to Thank for now ask to Wolfson, like financial President Sailaja. the Marina our our Operations Finance cover & Vice

Marina Wolfson

Thanks, Jonathan.

$XX.X increase XXXX. with as the period loss $X.X cash, current in of turn was Company’s for candidates used General same $X.X SEC were Form short-term BXXXX in second trial XXXX, expected I fund million for million $XX.X of product to million compared expenses million short-term XXXX and today. a quarter purposes. at due $X.X quarter will was are financial compared such today, to officers and deposits manufacturing Net ended six million due cash back public $XX.X was the the $X.X and XXXX. XX-Q, to administrative development as of legal operating reminder, the million in in information for expenses. and activities earlier filing XXXX period primarily the for as compared later and a respectively to second same press of Thank for XXXX, the mid were for compared compared of of and quarter $X.X and increase expenses for now Existing BXXXX, million to the sufficient XXXX. as the Cash period to the accounting to filed operating and period the second directors XX, published plan quarter company's to we same were million with additional expenses Net second was the over of of clinical the our equivalents the months associated which June primarily operating million well be $X.X The questions. XXXX. Research the XXXX. the in you. in balance same for cash to call XX, release skin $X.X will XXXX, IBD of acne-prone to for end operator million XXXX. deposits as the be available company insurance, is As The June

Operator

Our coming first Kluska from Kristen is question today Cantor from Fitzgerald.

live. Your line now is

Kristen Kluska

my for taking everyone. Hi, questions. Thanks

So is whether such the where have other PSC could Klebsiella also wondering patients or who see there's IBD, not with a first with play here role? a you co-morbidities high one IBD overlap since I'm any supporting with

Jonathan Eitan Solomon

Excellent Hi, Kristen question. and good morning.

these overlap. indications that the that are see. currently we in think I two see We main will additional we future do think

a other say looking infections, and Klebsiella, the with of will there appear multiple potential to resistant relevant bacteria to there's we're that it different And just in I in more product. that also, could many and target third So be be kind also would bacteria think into generation use. these indication which actively case indications expand of which

Kristen Kluska

Crohn's proof-of-principle providing see some differences if this patient any both include today. then colitis whether But two population? you. disease with trial and these thanks you study, the for patients, will and ulcerative Thank sub wondering for color And more key

Jonathan Eitan Solomon

levels pretty did analysis the patient from we seem So the close Klebsiella in both of far, populations. so

I would think anything proof-of-principle of proof-of-concept. to study, that? like make currently enrolling the clinical you decision think both, we the So Sailaja, that to but to closer we'll add

Dr. Sailaja Puttagunta

healthy as to as the the we and And in no considering sure proof-of-principle, CD Thanks, The include bacteria volunteers are still IBD exclude will go, reason same target we whether patients and carriers, that UC are or is said, prevalence for other. one the IBD patients. Jonathan. so know and as we design far about both those Jonathan or study the

Kristen Kluska

One pandemic, appreciation one you. growing with seriousness problem. towards it's -- big recent the a there's a question It me, big sounds been the antimicrobial Thank of COVID-XX since excuse especially Great. picture, like resistance, question.

statement? could to you you addressing ask wanted in with play therapy if and do second, BiomX I broadly So a envision that this would then stage just this? agree And first role how speaking

Jonathan Eitan Solomon

you we've and some AMR as by fund billion said, are evidenced So I support big project. the to $X as it's There that question a actively it's formation of monitoring. movements think a been debating

movement. definitely there's So

we're natural to phage because natural go actively there and see development resistant a think we excited weapon is as or monitoring bacteria. I after we are tool

can other we've be that potential the the pipeline. we establishing quickly Same as Klebsiella. of question them bacteria, add of feel Klebsiella of So as of the indications. lot of can there many expansion our pretty actually And in made will your a previous list progress be on platform, organisms. applications, indications, is WHO additional as and confident pipeline resistant through and current expand other top the and we organization

Kristen Kluska

Thank the think data during whether space you. there's why on And some peers read phage you the announced not then have in and microbiome across? view clinical specifically. results to hear [ph] your summer, I recently your wanted so therapy any of these some

Jonathan Eitan Solomon

a is very it So time. exciting

spotted the Board are microbiome. excited by the renewed interest I across closely in think and we've

This we've excessive it that I think diff. the So are with a when antibiotics sufficient see of we microbiome what bacteria far or is on that that have take except a like right at follow-up effect. for results think bacteria has and think of can I these excellent look I not to cases it toolkit kind seen so traditional one this in of industry to successes an adding hopefully led actually on the nothing there and for have whole right? our And something modulation, C. out we where evidence that IBD. over taking specifically many microbiome use is dramatic acne treat the need join bodes data more and is and hoping exciting in well we're and bacteria phage and we to to the indication more

Kristen Kluska

for much so you questions. Thank my Great. taking

Jonathan Eitan Solomon

pleasure. a Always

Operator

Thank you.

question Nakae Chardan next from today is Capital coming Our Keay Markets. from

Your now live. is line

Keay Nakae

you. Thank Yes.

then on starting you BXXXX, some talked to are tasks What in track need a between Jonathan? for know Phase key complete the QX. you of and So now for about I X

Jonathan Eitan Solomon

Good morning, Keay.

CRO. timelines I on of we're the Obviously, ready through gearing and mostly at up manufacturing and putting So impact an the just for being availability think in COVID-XX had the and slots final study the terms touches protocol.

So go. up up and they after to the incurred, we're be gearing the once delay we'll slot opens ready

Keay Nakae

many of study, then by the Xa. Okay. the that for informed you study? next again do But how will it talk you Phase be next BXXXX, can PK in for be might about patients I know And the both think

Jonathan Eitan Solomon

question Was patient patients that on of study? -- per a number

Keay Nakae

yes. Yes,

Jonathan Eitan Solomon

on Yes. I'll let our of details that Sailaja to protocol. thinking go into

Dr. Sailaja Puttagunta

Jonathan. Thanks, Hi, Keay.

So the with proof-of-principle right we will pharmacokinetic like we of it next study be you XX the that point design subjects into information we're on dependent controlled, be and the conducting study so on active and this have, enrolling at that But study, the said, will the on XX are XX a placebo study placebo. considering now.

Keay Nakae

ahead what -- and see you be enroll kind the little again, X -- PK still have of could XX to that yet from would or cohorts? and dose then hopeful stands that's single go don't out are patients, know Okay. clarity, the And the but a that include I determined, that data study multiple you you'll for you dose that if

Dr. Sailaja Puttagunta

It because we of This dose multiple is definitely wild cocktail safety. will are type be phages. about a cohorts confident all the

that So get information. said a the dose of to determine one whether as be not that questions, we are previous will multiple going And patients. will more on healthy IBD I safety going or of limitation. And It duration still we be be a is to volunteers therapy as the study. considering is

Keay Nakae

perhaps the you exclusion Okay. background as [indiscernible]? would And be to patients pertains carriers, about especially are for possible other inclusion, what it thinking criteria, that

Dr. Sailaja Puttagunta

eradication target to carriers will obviously of exclusion can going intrusion, criteria to the those to don't and is And at to in eventually the decide we IBD any your exclude phage target this see subjects. therapy to look adjunctive identify be focus through be Keay, therapies. concomitant back bacteria standard it healthy volunteers, do reason because if question, healthy that's existing an So we IBD be the if your any patients, of medications at any moment if

Keay Nakae

Yes. my That question. was

for Thank thank that all have. So addressing you point. specific I That's you.

Jonathan Eitan Solomon

Thanks, Keay.

Operator

end question-and-answer further management reached the comments. Thank session. We back Instructions] turn of you. for to to floor any like [Operator or our the closing over I'd

Jonathan Eitan Solomon

you of again studies therapy. our Thank for the potential that joining to support you like sincere of for us and express to our safe and realize We'd in shareholders, thank as our patients participate phage all Wish today. appreciation you. work our So day. employees, the we a pleasant

Operator

That Thank does conclude today's you. teleconference.

at You for time, participation this may your line have and We wonderful a day. disconnect thank your you today.

BiomX (PHGE) 13 Aug 202020 Q2 Earnings call transcript