Earnings call transcript Q3 2022

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Operator

Good morning, and welcome to the BiomX Third Quarter 2022 Financial Results and Corporate Update Conference Call. [Operator Instructions]

I would now like to turn the call over to Marina Wolfson, Chief Financial Officer of BiomX. Please proceed.

Marina Wolfson

Thank you, and welcome to the BiomX Third Quarter 2022 Financial Results and Corporate Update Conference Call. available X:XX became release news just a.m. after The be our website Time today biomx.com. on can and Eastern at found A replay section of of the our on this website. call will be available Investors

provision. to Before I'd historic statements forward-looking that review All deemed factual statements be the are we not on like safe statements. begin, may call this harbor

the existing potential and we're aim, trials, expected design, using we final For and if opportunities, the our candidates additional of deposits, shareholder equivalents of sufficiency the potential short-term statements of instance, in product cash, and preclinical discuss milestones value. on and interim cash market receipt when forward-looking the our and results our conference growth call of potential timing, funds potential clinical met, are benefits

and are results compassionate undertake do guarantee clinical as to Except clinical not do we forward-looking preclinical not and success required statements. well use of future our not update as trials. as addition, In law, indicative by past

The from could full press as safe harbor on results noted in earlier, forward-looking our release are these to today's which, is that outlined actual cause statements, website. provisions, including risks differ

Joining BiomX. Officer is the this Solomon, of Chief call me Jonathan on Executive morning

Jonathan. I the turn that, over call With to will

Jonathan Solomon

program. keep Thank remained fibrosis. the I'll morning, I you, of my cystic in our provide trial as, BXXXX focused everyone. Marina, ongoing morning now remarks update on third intend and this largely to brief we the on good during quarter, Phase an Ib/IIa

release this during our we press enrollment the with announced As to important in morning, made progress quarter. respect

and both the in trends of a important mechanism enrollment COVID-XX that acceleration in these wake enrollment, the place we trial. enrolling BXXXX will pandemic, put patients CF Given improve produced considerable in of impact recent measures have of parts the the challenge uptick to of

the XXXX, of Part schedule, the we the and X results into the U.S. holiday some X now Based of believe season from on in will dosing Part enrollment X each by completed trial Taking follows latest that by the third now from XXXX. study consideration of extensive modest report of year-end. Part expect patient's impact the analysis followed to be results estimates, in quarter that data we our of first quarter from in the

are respiratory we patients the and in patients X ascending with X:X caused aeruginosa, trial treatment or by reminder, a microbiological a and clinical in the activity patients patients a of Part efficacy for will placebo to mortality safety, a or CF BXXXX pharmacokinetics X of the randomized with developing morbidity BXXXX as XX multiple of in evaluate the of infection As X will in PSA, trial safety main evaluate dose a in contributor chronic single a design. cohort and and Part BXXXX dose treatment to ratio. CF. Pseudomonas CF

from clinical Last difficult-to-treat quarter, CF. we address positive the highlighted outcomes that trials some in infections are treatment investigator-sponsored utilizing stage-based of to modalities

the BXXXX are patients, We growing data-driven XXXX. life-threatening reporting look data for in program and and a to applying in these we forward of from infections lung persistent benefits therapies support phage-directed the potential pleased CF address to to see

I'd now to Chief Marina over the our like cover our to results quarter. the to call Wilson, turn third for Financial financial Officer,

Marina Wolfson

Jonathan. you, Thank

our be also walk available today we information of you detail earlier a today. is XX-Q, As in Form later issued will in brief filed which will through financial press our the highlights. some the reminder, and in release more I

primarily The cash decrease XX, December deposits was XX, million balance XXXX, due as XXXX. of cash were to As September used in $XX.X net activities. to million $XX.X operating short-term compared of and

BXXXX, the the for the of pausing discontinuation product product cholangitis, a and ended the this decrease stock-based salaries Authority. candidate the development treatment to offset personnel of XX, our reflected the as sclerosing a related was September treatment well the grants by decrease in were Innovation and product as $X.X a announced colorectal reduction as May and we the BXXXX. Research in disease million in of and candidate development from in cancer pausing for the development of compared year This million driven primarily XXXX. partially part of corporate expenses in for net period expenses months $X.X same Israel in candidate by of a inflammatory This compensation of restructuring XXXX, primary for acne, bowel the expenses, X

in restructuring. General expenses to compared decrease for part of $X.X and ended X months compensation corporate primarily in the reduction administrative and the reflected a XXXX. $X.X million This to December XX, stock-based the related and period in million expenses XXXX, related personnel salaries for a were same expenses as

$X.X was loss was million XXXX, cash quarter ended the compared for used XXXX. existing XX, period $XX the and activities cash, cash third X million least company's fund XXXX. same equivalents the to We operating that XXXX, to of million operating for $XX.X sufficient is for short-term months mid-XXXX. compared current Net plan in in at Net the $XX.X million to September deposits through estimate the in same for period

over And for I'll Jonathan? to now turn closing remarks. the Jonathan his call back

Jonathan Solomon

BiomX these at many truly course, advancing meet personal research BXXXX has saying like which strong to I'd our months, Thank program importance you, of the with several patients ongoing enter CF and footing poised is program. the have close of us XXXX to BiomX strategy Marina. a that balance a BXXXX privilege sheet had the opportunity advocacy solid a by of expanded and to home efforts. drives physicians, focused note, themselves, on of and development in groups, last with as On and

to healthier we with continue CF is made While a with truly that survival, done therapy so the can people that that and focus be to our program living At groundbreaking much needs this know be in develop live BXXXX to extending more can longer strides achieve BiomX, work singular great lives. goal.

questions. take Operator? happy that, would to and your now I With Marina be

Operator

H.C. from Our first question Wainwright. with Instructions] [Operator Joe Pantginis comes

Joe Pantginis

Thanks for the quick update.

a on for focus program want I to moment. first, So really the CF just

First, impact the from if part and that could what holidays the on enrollment-enhancing define in that, mechanisms September discussing? been scheduling of the -- And had analyses. you've any both secondly, the been you as real-world

Jonathan Solomon

question. Excellent

I have think than we slower enrollment initial anticipated. seen we

something Some of CROs holidays we're enrollment we definitely -- it's think, COVID, I to think slower of rate seen into common mostly as September we companies So an it, but general the as whole that to industry. effect peers trends, been somehow that's I seeing, associated it look with who've at and turnover I with some think and that's the and is that talk other right? other

the and although we're I the sort that's the a enrollment the externally. increased substantially that uptick added Part done number delay interact. dramatic in delay X that now very improve have CRO guidance, obviously we as What seeing We've internally on of been enrollment. ways we we've think a see work it is -- what giving we think mechanisms interface we've the I in to as because patient we've dynamics. in encouraged, as other well as of And think, And the Part on the very, put sites I X, by we're place well we seen with good and some in doesn't translate handle

I fingers, way. think my of that at crossing we're looking it So kind

Joe Pantginis

to looking Part I then, X the And quarter now. in data the first forward guess, understand. I Okay.

release information is data and amount to additional For what of been on already study regard original might possible to plan for you have it enrolled impacts X the patients the time, sticking for respiratory for get looking that been had you data? any beyond beyond or microbiological? even types to of been Are with any have the still

Jonathan Solomon

Yes.

standard at So I think parameters. we're the of sort all looking

Part the X effectively a days. few think really I for is

really we're a So safety And in not mostly improvement FEVX. again, is expecting this study.

well measure FEVX duration But parameters, something looking is but definitely, into, short like I as that, So what as that's microbiology think too we're right? for right? we'll the

we're think study. a in some on for terms robust again, small FEVX. in and Part signals here, of still relatively microbiology signals more looking anecdotal I X, But

So want as I see I think something others to some and well. trends that there we'd demonstrated think have there,

Operator

Mike Ladenburg next question from Our comes with Higgins Thalmann.

Michael Higgins

that follow-up there Were be there many and written? a for it any my go it? XXX's adding amendments And question and follow-up, sites a to enrollment pace to would from I matter guess, Is how so to sites? Just you on were did the additional own forth. of just

Jonathan Solomon

Mike. Thanks,

definitely to sort important have we significant of mechanisms with made perfect of I it's not any It's the the amendments. those craft interaction additional So think and sites. do And CROs.

see of have give you on you relationships. We But a so patients, haven't a we And sites kind I uptick. with like can think sites, the can't disclosed that publicly personal finding lot depends everything, those information. number of added, that and share and it's more we

world. to I in think kind learning post-COVID So how work it's of the

us optimism. CF. in right? we're in help few recruitment, There's studies It's seen exciting we've hope going is of uptick, just also patient time this for to other and more think excitement I there's data the et I that's gives a what field, just CF. again, awareness, this the substantial recently And what and in phage from kind in seeing cetera. trickling an is field, There's clinical excitement And

Michael Higgins

being Foundation-supported CF us. go you CFF confirm those up trials. also sites the can Just sites? follow to But are just actually trial, a on outside And that, you not, for can CF if this clinical Foundation assume I of

Jonathan Solomon

with So the we're hand foundation. in working hand

moved patient protocol without -- and about how partner. patients and network are they thinking have I I a terms they've right? and of dramatic, definitely And would been recruit go field in partner not awareness, been them, so the our they're this think great in they've Their much. wealth sort to of effort. so think

choice. they're of definitely partner So our

Operator

Kluska question Cantor with Kristen comes next Fitzgerald. Our from

Richard Miller

BXXXX AD? preclinical Could what you you're to gating are This switching about factors AD? Could atopic about specific looking is before for and pursue at getting Kristen. And you -- Rick you as dermatitis. activities asking on into clinical questions in trial specific for talk a gears what you talk

Jonathan Solomon

program, working their in derm expertise in and we're atopic So with formulation. the Maruho basically

formulation. trying we're that we of topical think on kind to takeaways implement I had

launch CF, hand And that working effort kind the how is once to And -- hand heading the direction, reassess kind right right? to lot a to again, when of them how about of structuring in be of are in we'll the So in to things mind it. now able and corporate best go think on bearing had, just study. with the we when

Richard Miller

Okay. one then thing. more And just maybe

be in up thinking On R&D effects this the How we about near on should BXXXX. expenses production mentioned the term, you in wrapping mind? press keeping release, for GMP

Jonathan Solomon

Marina you more So far, I budgeted. give all of can been it's let flavor. kind

Marina Wolfson

Yes, sure.

announced the any definitely and we announced. that everything yes, the including account, budget and we any into So manufacturing runway that programs takes GMP

Operator

of comments. to end turn our the the question-and-answer would for session. back management floor over reached I have to now We concluding like

Jonathan Solomon

phage in for the Year. and again. future time you at Again, New again providing to us in therapy all forward to more is we general, on Year. information you look and in New updates provide you we hope programs joining very Thank the this this morning, clinical exciting Thank

Operator

today's concludes participation. conference. Thank This your you for

lines You may your at time. disconnect this

Marina Wolfson	CFO
Jonathan Solomon	CEO
Joe Pantginis	H.C. Wainwright
Mike Higgins	Ladenburg Thalmann
Richard Miller	Cantor Fitzgerald

BiomX (PHGE) 9 Nov 222022 Q3 Earnings call transcript