ARCT - Earnings call transcript Q1 2020 | Arcturus Therapeutics Holdings Inc.

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Arcturus Therapeutics’ Conference Call. [Operator instructions]

I would now like to hand the conference over to your host today, Neda Safarzadeh, Head of Investor Relations. Ma’am, please go ahead.

Neda Safarzadeh

Thank you, operator, and good afternoon, everyone.

by president today Sassine, CEO; joined Dr. CFO; are Joseph and Payne, Andy We and Dr. COO; CSO Chivukula, Pad and Steve Hughes, our Chief Development Officer.

than CTA by most those conditions and Before including the vaccine such future subsequent historical SEC made clinical this annual candidates candidate the develop differ COVID-XX discussed current on Such like report financial other for of responses of statements under and management’s of March the strategy, of in results, heading that to substantial Reform we any historical performance to those remind that are and recent Actual may regarding XX, of in and forward-looking this statements uncertainties purposes materially Act or of filed risks achievements preclinical on on the everyone development general Litigation Factors XXXX. based operations, product risks would without and on market forward-looking unexpected involve provided begin, are could included candidates, current from statements communication, market prevent initiation or conference filings. success planned Arcturus’ the in and involve the including, and that to a call an clinical XXXX, projected facts Any safe limitation, cash performance. questions statements Form facts, expectations XX-K Risk and other company’s the forward-looking many result as results management and by and of inability statements in statements. future product Securities the the and of status the statements clinical any company’s factors position, IND approval, and trials, Private statements coronavirus those programs, of for I including constitute the application, the the except likelihood harbor, uncertainties

revise intention update now the any only speak turn disclaims they obligation as required call forward-looking Except date Joe. or of will Arcturus or which to as by I law, the to over any otherwise statements, made. were

Joseph Payne

to COVID-XX It’s with Neda. Great. the call joining impact afternoon by The everyone has of for Arcturus. felt you. Thank today. been our Good on to you, pandemic good quarterly the Thank be at all you call.

Our our everyone today healthcare knows in the what a call chapter This providers, talking intimately is families, about. this on historical story. Arcturus I’m truly

focused this pandemic, their facing highly are health taking on. pandemic on Societies is the COVID precedence. Arcturus head and is

never biopharma in more role clear. been has the Our industry

those to developing our We are protect closest vaccine families, us, communities, to here our and an aimed abroad. mRNA-based COVID

a were seroconverted focus, We on equivalent X-microgram replicating STARR and candidate study seroconversion of data is animals announced higher LUNAR-COVXX. dose. dedicating most This this call our at we current for day mRNA mRNA, of mRNA we recently XX vaccine self-transcribing to call COVID program. that encouraging and showed results The very positive XXX% seroconversion single time and will self-replicating important or at be to vaccine preclinical on conventional our this relative that doses. the induced our

demonstrated the data. even X,XXX-fold new at X,XXX measuring results XX a micrograms. while shared study response LUNAR-COVXX at we a antibody the including And doses, The dose, generated all day our robust today, dilution, to at immunogenicity X.X at that in vaccine lowest

we low-dose clinic, outcome. Now is a is a reasonable can the results, this vaccine vaccine now single-shot, single-shot a based in a these If result on repeat encouraging expectation. likely

a I And Arcturus, the that everyone differentiating. not conventional to to moment important and new is mRNA, vaccines. many the and multi-dose them how there’s self-replicating countries Arcturus differentiated because look and vaccine use our delivery to from mRNA. I the folks to on use this chain which stressing due and other list to all of take to all have We at to names is related think the and investors is us remind call, single-shot multiple helpful as now, We new a supply see biodegradable the I logistical technology, Arcturus I’m vaccine foundations lipid-mediated strategic it’s vaccines. partners and LUNAR distribution of communicated challenges

exhibits technologies manufacturable materials the potential resulting see immunogenicity combined, and in devoid and vaccine in you low-dose processes, that vaccine preclinical adjuvants XXX% These that yielding extraneous single-shot, are other our approaches. product robust this and vaccine manufacturing viral is And proprietary readily is using a studies. vaccine seroconversion of

we is the the Based data, on vaccine LUNAR-COVXX microgram, the vaccine. starting be superior significantly reasons, dose. that these feel a For dose one clinical a preclinical these has potential low to

dose, At doses. STARR would equivalent be of kilogram billion mRNA this one one to

a You can why deal. is big potentially this understand

immediate to expand geographically priority into Sciences initiate the or in the to trials Singapore of summer world. the focus plan over clinical this guidance Authority, and Our are under and countries time, HSA, Health we across other

demand. We to capacity have increased anticipated our meet the manufacturing

with pleased a doses Catalent’s CGMP XXXX, and and year, potentially expect for have partnership in to produce millions millions capabilities of annually. very to millions manufacturing recently produce Catalent, can doses doses this annually use. capacity of of entered mRNA into LUNAR-COVXX LUNAR-COVXX hundreds have worldwide manufacturing hundreds We’re the scalable of of of to of

are their – quickly foundations, initiatives approval. appropriate be access in to to allow investors, year immediately this the to agencies and vaccine government position Arcturus’ vaccine the Our will respective conversations distribute the here candidate groups populations gains Rights these to regulatory abroad if Arcturus with continuing. media, vaccine a stockpiling and and and to

addition Arcturus medicines waste transcarbamylase is ornithine digested. also RNA The urea disease, OTC cycle messenger to the messenger with as of most or Patients potential toxic are pipeline as the dosed in vaccines, OTC is removing – RNA a and treatment difficulty disease products inhaled common therapeutics. proteins a afflicted for include applicable platform therapeutics but to Arcturus’ deficiency, intravenously rare Now named are messenger deficiency RNA ARCT-XXX. disorder. have who this RNA

which cause damage can severe and to gene, the the mutations to OTC damage nonfunctional OTC or liver. And dysfunctionality enzyme. in OTC leads deficiency neurological is often deficient caused the by

While investigational Phase IND company’s Administration. Drug new LUNAR Arcturus the acceptance proceed also for Xb the to for by or with study and U.S. clinical a asset, recently trials known ARCT-XXX, OTC patients in OTC, Food or its FDA, drug of allowed the two announced flagship was deficiency as application

clinical The And CTA, file expects application, a to track and trial in Medsafe. still moving LUNAR-CF. Phase for Devices New an for an program to Zealand to Medical is XXXX. CF in Safety and on a approved additional continues the progress The company on this year. application development or was And by X volunteers candidate Authority, selecting or study Medicines healthy IND

the will now on May Conference data over development I the to call Hughes. new chief XX. presenting preclinical Steve virtual is at officer, ASGCT turn Arcturus our

Steve Hughes

making that progress the Thanks, Joe. to provide I’d program in update with on vaccine COVID-XX instance. our an like first the we’re

range As take we to of Joe XX, one upcoming in late-stage we test microgram continued are micrograms. a that said, from exciting dose, evolve robust very one continuing data to XX-microgram dose some showing all anticipate we initial and the last protein that trial our clinical forward at the levels clinical dose dose this, with post-vaccination, antibody at the day trials the the week clinical into lowest we animal even to antibody that as final doses, range. response now Consistent anti-spike is from in will additional of a planning single have our that we to X.X and with be study disclosed the data continuation rise

We I so We Health been far. are our like and Singapore communications to for very trial on our have productive LUNAR-OTC ongoing design now in the would of concerning the summer. with give clinical initiation track remain update our the discussions Authority an Sciences trials in program. clinical on

testing patients from proceed the to in States in we an you received OTC and Medsafe from As clinical human a in FDA begin recently healthy clinical volunteers know, approval New to in second United trial allowance Zealand. into

level to May, Zealand from two, of making moved the of restrictions restrictions XXth USA the four to academic of Minister a is trial. more and been have studies. New we The diverted end this resources uncertain New Zealand COVID-XX to soon be clinical Prime to New on will of April. on anticipated, announcement centers, about XXth three the we level many moving Zealand three to at the an because, under which to on remain level start remains the expect initiation trial little trial The level able soon. track for period Therefore, due be clinical As pretty

QX But late we are our commencing still Andy. now anticipating enrollment to for or CFO, QX. this you over pass study in I’ll

Andy Sassine

which validation, our would to of and team and like everyone. of to On are all Arcturus investment million. of investors of we as and our institutional their biopharma welcome A secondary proceeds us new management Thank shareholders part number offering. grateful $XX this behalf you, of in the and Board, became new investment funds call. highly raise prospective I gross for recent the helped sophisticated good Steve, afternoon,

support biotech new I from Without from payments and partners. arrangements of quarter primary Arcturus’ and received and revenues the which statements briefly The of with our with issued XXXX, not license includes would as earlier the will pharmaceutical release have fees been shareholders, summarize. today of fiscal-year currently source for the is research press collaborative our development first and successful raise. existing financial we

the $X.X company during revenues million For $X.X XXXX. the first of first of XXXX, to the compared million, of quarter reported quarter

of the for due its Singapore. program. was to the XXXX. as decline the million, million collaboration operating discontinuing were Total launch in with for XXXX expenses The to primarily the for first IND our period CTA, our quarter reason of the primary $XX.X for due same vaccine COVID-XX The program well to $XX.X were increase CureVac compared expenses OTC XX% preparation, as and of OTC,

increased expenses the fibrosis expenses account CF from reporting cystic mostly our program, foundation grant offset the to requirements. $X saw we these Although our expense million due contra with

XX-Q, the or approximately per diluted basic diluted reported prior-year and please per of more of XXXX, million loss quarter in be net period. compared which $X.X $X.X of the a basic filed details, our million first or and share a shares for shortly. refer For with loss $X.XX to net will Arcturus $X.XX

of our to we million added quarter, secondary successful totaled million balance our offering, $X million cash XXXX. the March XX, and from the $XX.X Our added from vaccine $XX.X as we contract. of Subsequent COVID-XX end

position sufficient to support than our Based company’s the to cash be expected for current operations our years. two on is pipeline, more current

like At foundations here for the vaccines Foundation, to companies many abroad, are approval. previous and the As agencies to for have funding manufacturing financial in stockpiling They Bill call, commitment of government we from government only many of vaccines prior companies. the Gates to the our countries Singapore Melinda of manufacture & fundings millions and are mentioned vaccine. regulatory this time, the we providing received one

on change share will exact Although we Science understand assume Health dose assumptions have I some levels the per I we help of information our available not successful of with guidance by nor today, these the opportunity. we and today update the level. will remind development not learn optimal we will the and are Singapore know you investors as more I revenue in dosing are Authority. approved will it be providing The potential vaccine assumptions any vaccines about the target yet that do will the assumptions our We today best exact vaccine. will everyone, price is

provide existing batches to updates from two suppliers to total continuing educate previously XX-gram communicated; our vaccine help program. our anticipate of market We the year. the deliver we investors on to have We to progress this frequent commitments

this anticipated XX-microgram With production we at On a our XX update, decided add another to on data, clinical for schedule range grams. based the potential and Catalent, total of dose delivery our batch favorable XX-gram of to vaccine vaccine. an last per for expected five provided we of least recent to year addition

range size of put could can are perspective, on to dose effective million Based doses. is can is support to a on people. now Mac To range, of microgram the comfortable the STARR Double assume collected, level, kilogram one One one one mRNA we that if manufacturer’s XX-microgram dose XX-gram million dose sandwiches two vaccine. approximately new at approximately of of we potentially mRNA per each data with Based one batch XX this in vaccinate kilogram this vaccine McDonald’s. Big our billion vaccine then one

hope back I to over Joe. I and this the helpful, will now was turn call

Joseph Payne

Okay. Thanks, Andy.

at want acknowledge passion here hours, can you working staff extremely it. hard, the I days has countless see, team entire week. and been work As our management their our ethic behind to and seven a Arcturus

able be talented, innovative team. such to work proud very with dedicated I’m and to

call I for appropriate think now the the is open to time questions.

Operator

[Operator the Whitney comes instructions] with from Ijem question Our Guggenheim. first of line

open. line Your is go Please ahead.

Whitney Ijem

Congrats guys. of Hi, progress. all on the

additional is wait from what just so that work the far preclinical see next clinical study encouraging. pretty preclinical you’re start? challenge one, of months tests we several wanted First up in on Curious if as to data follow we could some doing data. viral the or we’ve seen Obviously, animal

Joseph Payne

to me. with Pad’s address He’s that Thanks, Whitney. going question.

Pad Chivukula

data of anticipate Whitney, anticipate clinical and in vaccine near a challenge to happen for we course, term. with as be some vaccine yes, the studies we are more rebatch additional we nonclinical But COVID continue trials. share will will program. concurrent that thinking And well, our but about

Whitney Ijem

then of there Catalent helpful. kind was on of the up in there ability. addition Got you terms how much I manufacturing the Okay. scale That’s capacity, guess back And their language it. the capacity announcement, in about could of with of

should Is we of guess, or kind that? curious, in funding what’s I So Is collaboration? some that about of up clinical of threshold triggers or sort scale capacity? think sort the it how what it Or data?

Joseph Payne

variables funding right, there. capacity able be to a you’re a has The on one. Catalent and But that’s now on increased Well, that. And point. with would we’re the track several I here to key definitely be key the dramatically significantly, key you’ve point as I of or think source is support touched think partner

government the capacity increased partner we in or meet to or that funding effort manner, an demand. If the foundation agency we have have appropriate this

Whitney Ijem

for questions. Thanks Great. taking the

Joseph Payne

Thanks, Whitney.

Operator

the from Kumar comes question with next Baird. our R.W. of And line Madhu

Your line ahead. go is open. Please

Jennifer Teubl

call. is This taking Madhu. for my on Jennifer everyone. Hey, Thanks for

just confirm quickly I really ARCT-XXX. So wanted one thing about to

soon start on I from that. down that restrictions could come essentially Is you on come that? believe mentioned right XX dosing if XX day that healthy read Zealand, or that or after the then that you volunteers, off conceivably New May May

Joseph Payne

address Yes. your can Steve’s He the question. on line.

Steve Hughes

it won’t day. trial, clinical a So there’s any that be process. In screening

volunteers It healthy, healthy lifted, they’re that then go screen to and to have back would So the tests the you as and because healthy take redo the as soon restrictions that. then doesn’t dosing after bringing screening, are into we can very site anticipate and start volunteers long don��t shortly things.

database from New have those Zealand in a eased large the then from And minister of that volunteers is soliciting pulls – actually already the that of What’s period. it her and interest days a lockdown happened the site has been lockdown and is makes they after during couple comes prime the announcement typically that.

the be of happened middle week next terms So before it’ll probably of changing. that’s things anything actually in

Jennifer Teubl

it overall might example, there healthy volunteers? be That’s demonstrate Great. one And helpful. that more, the evidence Okay. could you cycle of that improve on like is really any then COVID. able possible urea terms in it of production? transgene-specific suggests to for sort And is XXX, question have of Like, OTC then I

Steve Hughes

Okay.

OTC won’t So volunteers. the we normal urea distinguish can be OTC not from the OTC possible. the able RNA our from activity made be healthy increased. that’s to or That’s cycle in made that’s

that steak, a and normal ramp In urea your go if person, XX-ounce to you a to eat is up process cycle, going steak.

in detect be our enough So urea OTC. our flexibility dose we an in been a in RNA. move to the bit we’ve increase able able of our quite whether with messenger actually will of The single cycle. is studies, after OTC those primate we’ll question to needle changes to nonhuman in detect have a And administration

seen in six is each our urea What see animal doses, with we’ve cycle pretty cohort. successive are increasing small are There over in only studies we time, cohorts. that and subjects activity these the

be not specifically activity. able all changes cycle of and we this these clinical So OTC why only in significant or urea in exploratory trial. to dose, with single might endpoints first size sample assays a small see That’s

Jennifer Teubl

LUNAR-COVXX it what we’ve do out COVID-XX reasonable what be think pure sort once That’s of summer? this vaccine mRNA helpful the then for a really just And might seen starts data you of coming cadence Excellent. detail. given from programs,

Steve Hughes

again get So we’ll for very those, quickly. data

all all of will studies, other, over come all subjects aim of with I a weeks. each or would very within type day As to few cohort out short a each we Phase period dose immunogenicity readouts of probably The of the same couple the a on in within days. a even period

a be of antibody to when going onset reaction frequently looking also the very what peak we’re have we’re reaching at the to and looking look levels. immunogenicity speed like We’re of is

So on the will on would be at timing To we after exact whether it data, determined haven’t dependent that data how dose which some releasing be evolving is we yet. the extent, a – and that level response, we we our of year. reached we’ve whether that’s reached this think we’ve But point level peak that which at data. the the the release certainly,

Jennifer Teubl

you so Thank Wonderful. much.

Operator

Rahimi Our the with next ROTH comes line question of Yasmeen from Capital.

Please is ahead. go open. line Your

Paul O’Brien

Yasmeen. for extended the Paul team. LUNAR-COVXX. on on data set Hi, Congrats for

So today. we two just have for you

Are mRNA or production needed zooming compared the the read And wondering how partnership second, areas to talk mRNA product and you could the for could in We regular manufacturing there of, what DNA additional LUNAR First, development say, to you have differ COVID-XX final about typical from for might to if vaccines through mRNA vaccines? the us process mRNA? were for then for STARR-enabled Catalent. just on steps scale-up yield the ARCT-XXX? might of through walk program with for manufacturing – LUNAR

Joseph Payne

experience With respect in only But mRNA between molecule the mRNA, a essence, have two the STARR one particular other. a and And mRNAs versus considerable messenger of is we mRNAs. than larger larger the process, is formulating of is the synthesizing to with larger similar. amount conventional manufacturing a difference RNA

from And perspective. a drug so there’s – same or the substance

of variety we’ve with vendors Catalent, CMOs successfully us would But And There efforts is and some so very question, there. programs. many then in help to in we’ve that years it’s similar. principle, our curve over learned experience, over years again, the larger associated I that second with your and respect we’re with with our the to very of, formulating learning molecules manufacturing a say, is engaged comfortable one

to no coming manufacturing or CF. our OTC with efforts, So or of with for issue in conflict interest example, is Catalent support there

shape we’re Pad So, in And – no? I Okay. your question? good there. Did then address

Paul O’Brien

less. maybe if Yes. would the, there’s was the it or COVID-XX for specifically, Yes. tech anything or the, technology different But guess, engineering scale a be just say, transfer anything with More that if there’s that like ARCT-XXX. help I scale perspective? granted I will for might I wondering and with guess,

Pad Chivukula

This the it’s apply helpful. learnings, ARCT-XXX, be we to to course, going synergistic and very COVID-XX of Yes. product, is with and our Pad. Yes. The can

utilize because very seamless So, they both I of IVT an vitro is in similar, in a it’s terms or and translation think process process. RNA

the both programs. So adapted for will be learnings

Paul O’Brien

the thanks Okay. for taking Thanks, team questions. and

Operator

question with [Operator Our of next Wainwright. line comes from you. instructions] Thank the Ed Arce H.C.

is line go Your Please ahead. open.

Thomas Yip

is This for Thomas vaccine everyone. the program. rapid Congratulations progress Hello, and the the with a Yip, Ed. of questions OTC asking couple COVID-XX you’ve on made

for we a details little the and the vaccine trials. the learned duration So are COVID-XX first, your for already about size program, first-in-human these What the bit of trials? of expectations

Joseph Payne

the duration address size to Steve, you respect that. of the With and trial? COVID-XX can perhaps

Steve Hughes

to a order then in expansion the larger refine is study with study the of measurement. better in to demonstrate The regulators. clinical be and than be the cohorts clinical subjects that XX to XX then and dose-finding requirements substantially And to that would order doing us subsequent in to trial going need that we trials for That size. initial select allow we’re of the to safety some is dose

Thomas Yip

switch details. And Okay. the perhaps Thanks we to the gears program. for then OTC can

to sure mechanics want I Just correctly. make understand

they conducted and I one in for the So Will one these for Australia. parallel? separate be U.S. will trials, be Phase

Steve Hughes

because studies be and to in approved both overlapping. start-up go. actually will difference in time. conducted are is theory, they ready The be In parallel the They could

So they are different studies.

And is lockdown that fairly patients. after various in there’s healthy Zealand study New can volunteers. not study of coming burden government or in eased terms restrictions whereas restrictions, The start individual in yet. Zealand New OTC-deficient in through being The reduces New on in are Zealand in America, study is a patients still situation the a changes their quickly the America in The quite number hospitals in the of we’re also, uniformly of system.

of that we that when the it. study and impacts dynamics can So start

because patient study. that in the in a it in study it’s exactly a the dose already the will after so healthy healthy it the first been means isn’t how the volunteer we performing volunteers, That we we patient patient patient what before before enrollment So actually of the put have is enrollment first of study thing dose the of a it with bad in know patient. any drug, would tested the occur

Thomas Yip

Okay.

least guess, at see you on have I data, patients? some before dosing can early will you to to move volunteers’ healthy data, So OTC from

Steve Hughes

if a that the No. it. onto United That’s position in could correct. so allowed fact be research and prioritized not the the hospitals We place right study academic dose institutions And because States that of a are to just are the tomorrow We patient COVID-XX studies, the start as study of this been in have available needs study circumstances that where of in restrictions such to not just right now. now. a teaching this start the COVID-XX the lot aren’t to staff in conducted, have OTC and

That was need the any that the trying studies the that is I starting data So two we’re The will of see make out to study start at we fact the the point of to patient healthy study. don’t volunteer is to before in a just into staggered a take necessarily thing patients. see performing because good circumstantial. thing, volunteers us isn’t It’s drug it bad is the a does we be before requirement. the how healthy allow not

Thomas Yip

one then guess, Okay. I about financials. question Fantastic. And the

the rate than want the remainder the program three OpEx to cash the for to given of more years. and this that’s OTC year understand guided Just program, COVID-XX run between split the

Andy Sassine

kind Well, Sassine. you this with And you guidance know have our provide how what we’re of don’t burning. But historically typically we long is will of obviously cash Andy specifically. program We by kind shared last.

funding good funded a us. long program program Duke-NUS And of different OTC you So is foundation. you if know, our by good CF our funded Singapore will the the is get and is think by as you how program last. by a or funded that, I program So, And sense Right? extrapolate can sources. idea the

helps hopefully, your So question. that clarify

Thomas Yip

you for we this taking and Fantastic. progress for forward you Thank does. to It look the additional Thank the year. questions, your color. Yes.

Operator

with our the line Raja of question comes next And Kumar from Brookline.

open. is go line Your ahead. Please

Kumar Raja

my you can as going Hi. be this prefusion, to the a Congratulations the full of with thoughts and sort optimized thanks protein taking Maybe targeting well as talk the your on or on domain, spike smaller regard versions and to finding for all bit progress, versus questions. using with little cells thoughts how to you immunogenicity? T one is on your proteins the are are stabilized there impact And form spike once What protein. are will S developed? you being also, at start trials, looking whether of where of phase

Pad Chivukula

Yes. I This can those questions. is answer And Pad. Yes.

So, because use strategy for the to your for are SX the for we the you second and our question, response. is the that optimal is into And spike will, full-length spike that’s forms the we’ve looking other be first will LUNAR-COVXX course, clinic. confirmation. come that, part like or that be regarding, it target And your the portion the mentioned, encodes the the answers optimal to be maybe a Correct? maintaining there’s first for looking of during antigen protein immunogenicity the the the of question. evaluate this the protein. vaccination. going conclusion at native the RBDs, SX will think or And believe part we portion, cellular And going full-length we to of really – we Hopefully, the in of best important because antigens, form of

Kumar Raja

right. That’s

Pad Chivukula

Yes.

cellular STARR the neutralization, So of course, generate, also just shown can a but not and we platform preclinically, using others, response. that have also ourselves,

elicit that that strong data will we translate this can internally generated that preclinical platform clinic pretty CDX that responses. anticipate well. the into we’ve as have We And

looking for well. of that as we’ll So course, be

Kumar Raja

And Joe touched about little a bit logistics.

the of logistics? will stability terms bit the a your on maybe are what So little talk you in that and about vaccine how thoughts of help can

Pad Chivukula

Yes. and Sure. Currently, product. manufactured that we have more LUNAR-OTC on at GMP, stability that’s than been Yes. our have we one-year

we anticipate to be translated very COVID readily our that can So, product.

working the also that stability are process further. lipolyzed will we even on We increase a anticipate

Kumar Raja

Okay. Great. Thanks questions. my for taking

Operator

And our with Keay from line the comes question Nakae Chardan. of next

open. line ahead. Please go Your is

Keay Nakae

point COVID-XX? the gating to enter item What’s this clinical Thanks, the with Joe. study at

Joseph Payne

I necessarily ship material it GMP don’t and manufactured we the But manufacturing gating know if consider of a element. to I’d that. material need course, the complete –

very on we’re we the so to be be on clinical that term. would trial then the the Right is material initiating shipped, what that can in summer, going as in now order, near And internally after we’re focused obviously. right that soon focused in as

Keay Nakae

you volunteers to the the in healthy describe the U.S.? normal deficient and protocols Okay. both of And Can shifting the studies. the patients OTC

Joseph Payne

to color of respect to to the Zealand add and healthy up I in to volunteers want Steve, protocols here patients that? New mentioned With volunteers, Yes. United Steve healthy you do in know dozen States. XX a to earlier, this up some

Steve Hughes

Yes. Sure.

are So both studies single-dose studies.

six So each all and of There’s, in receive with XX four United in New the subjects there’s each total. will cohort In a subjects OTC that subjects XX in placebo. the five or RNA either messenger in levels. Zealand, said, subjects single dose cohorts Joe States, as are different dose

a because smaller to patients than it’s they’re That’s is find rare harder So find sizes. cohort healthy to it’s volunteers. disease, it

to regulators top is States. start There’ll in the The a tested be need exactly levels studies three in volunteers, dose that It’s the range United same. testing we’re different just all little we bit are in both And the dose healthy for the studies. that’s can within doses that work. the from just you the patients; lower way than our predicted of therapeutic animal

I mentioned. a just the randomized with study it’s that other double-blinded So, characteristics all placebo-controlled, of

Keay Nakae

increased that Great. to results in just based million. for in else the there allows question. that on for $XX grant healthy COVID-XX, a Is up the initial money final And testing clinical then from anything to I initially know funding agreement With respect volunteers?

Andy Sassine

then success $X stage once million in you for Well, our the anticipate is next used we’re Singapore and the Based shortly. next in present on which with process with the funding of up, to and able explain that the be working government of you. progress, we detail we’ll

Keay Nakae

Okay. Sure. Thanks.

Operator

questions the for at remarks. turn back conference would time, to no any over and showing to Joe this Payne like further And I’m I further

Joseph Payne

Yeah. Thank this to we’re you, out. call. close point, everyone, free for listening to reach Feel going in, the as always. At

respond you follow-up If questions, we you will have again. efficiently. now. Thank for any Bye

Arcturus Therapeutics (ARCT) 11 May 202020 Q1 Earnings call transcript