BCAB - Earnings call transcript Q1 2022

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Operator

Good day, and thank you for standing by. Welcome to the BioAtla First Quarter 2022 Financial Results and Business Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there'll be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. now LifeSci hand Advisors. would to conference I Mackle, Bruce Instructions] like the to over [Operator Please ahead. go

Bruce Mackle

Thank press you, Commercial Chairman, operator, of released quarter a Vice today the Scott on President, and President; Clinical good afternoon, phone and for the Smith, Sheri is financial Dr. everyone. Development are and ended copy Jay Lydick, Martin, Richard Short, Philippe XX, CEO Operations, Co-Founder; release business the Chief A and Officer. Chief With Senior Financial the Waldron, and on results Strategy; Earlier BioAtla XXXX. March company's today, available update of website. me

these and incorrect. our clinical Before that operating meaning and regulatory federal and securities we performance statements call resource are that advancement forward-looking not differ limited prove never candidates. our after are you laws, turn call and during involve obligation including, materialize forward-looking CAB that XX-K BioAtla's such Accordingly, expectations assumptions All to of and historical from in and operating programs of made expectations, and Jay assumptions the circumstances but management's over subsequent forward-looking February in like should this as expenses, and like exist to Short, Exchange pipeline, could statements annual by Chairman, plans begin, statements that, no XX, of on and that the to Jay? such business to May be events Co-Founder not regarding forward-looking that BioAtla the CEO facts our Securities partnerships reliance statements remind or as and conference place XXXX. within statements prospects, Form with undue statements occur trial except anticipated law. the conference update made These With you as during risks to current timing today, to and a as product based result I'd technology filed and potential Actual may upon reflect results Commission. of and the of and today, associated products this are call are undertakes materially costs X, financial on I'd not filings may BioAtla's required requirements, statements those or uncertainties based estimates to statements. various report on and described XXXX, BioAtla.

Jay Short

Thank BioAtla earnings the our cancer transforming Thanks therapy XXXX clinical-stage for on specific BioAtla for novel of to solid of and you, focused of Bruce. ever company us quarter development treatment tumor with everyone is the for class call. antibody-based first joining first our cancer. a and biotechnology therapeutics selective highly

tumor by Active preclinical and pH validated development clinical Our cells of innovative in and target advancing Biologics characteristic continue allowed XXXX, December the or that to healthy normal impossible have difficult exploiting or Conditionally been known cancer applicability of previously programs. to CAB has antigens the technology CABs us target of Since our our between differences cells. widely and IPO broad our

or X a mecbotamab assets first-in-class these types lead ozuriftamab Phase latest candidates. our trials for enabling candidates, for in stage is therapeutic X have We ongoing cancer. also BioAtla CAB-ADC tumor our investigator-initiated for platinum-resistant BAXXXX BAXXXX potentially or product vedotin solid multiple registration supporting both trial X across vedotin and multi-center ovarian

has ongoing. and currently X CAB-CTLA-X antibody BAXXXX is basket initiated for Phase been a trial Additionally, our

needs targeting unmet preclinical BioAtla generation medical ADC in Finally, in IND-enabling and has include of our candidates that solid bispecific tumors. types multiple antibodies CAB several next pipeline

you on programs clinical strong are to our are well importantly, believe the execution with and our poised particular, share we today. first with interim continued excited across We another are the call top that, the for provide Martin, programs Most With in X In Philippe? pleased our to to I quarter X from progress clinical of updates our data now Chief clinical year turn during Philippe would Phase line with data XXXX. study. ongoing we interim from like clinical BAXXXX. many to and study over a Operations, asset Phase update sarcoma lead of sarcoma our our Clinical Development

Philippe Martin

Jay. everyone. And Thank you, good afternoon,

company Before clinical providing out Events have line website study, X update Presentations. data & line section a would interim on top Phase this top on the point of interim I put we sarcoma slide Investors our that or under

is purpose other not The and/or undifferentiated was that identify Phase the bone osteosarcoma, least moving at interim expression in least UPS, pleomorphic sarcoma Part bone registration-enabling or subtypes of sarcoma ongoing go study. or designed positive BAXXXX at subtypes with based forward monotherapy refractory XX% all or are or complete to PFS adults CDXX sarcoma for trial. receive was including chondrosarcoma. include other bone may subtypes adolescent subtype to subtypes combination the these to with split potentially and X Part of sarcomas, and between synovial in X eliminate survival progression-free safety In respond response, do either the response soft There X portion evaluate sarcoma for sarcomas, CDXX analysis criteria and subtypes Part liposarcoma, of X, chordoma, of months. leiomyosarcoma, rate BAXXXX receive across Ewing we efficacy while patients in to tissue subtype. sarcoma tumor X equally BAXXXX each and soft patients AXL such in parts tissue enrolled to study. X partial subtype three sarcoma for BAXXXX These to open-label X sarcoma, of and nivolumab, sarcoma go into subtype determines Phase of expression. study different which Our and Patients advance X or Part Predefined sarcoma. one the included a the of approximately X the selected of trial BAXXXX across at on the threshold no-go to sarcoma, tissue were Phase and as decision soft negative treatment two This

Our on cut-off X an XXXX. based even study share X achieved sarcoma preliminary multiple UPS data today in date predefined of Part XX, cohorts, is of interim of the and We April efficacy and including exceeded that analysis will Phase osteosarcoma. criteria we

ORR we of PR cohort X PR X combination Specifically monotherapy in which patients X X. go with PR of in Part We of UPS UPS X objective out X satisfied the X Phase observed XX% treated is observed in cohort X.X a additional of in observed X patient PFS This response patients patients in was our UPS observed predefined at total X with of an the in rate resulting Phase when and our of X. criteria recommended Phase an of of data per the kilogram, X three in what at Phase of a PRs with in XX%. And milligram dose XX%. UPS and months combining consistent Phase X an were

observing are for and are durable we on remain Importantly, responses able treatment of time. to responders partial extended periods

X.X on to exceeded X. two When milligram the X a data, Some X combining PFS go X of of Phase of osteosarcoma at of X over X our dose patients a of X recommended study months Phase are total Phase cohort, enrolled and of rate with a three XX%, per Phase kilogram, we total rate observed XX%. enrolled In criteria Phase the predefined them Part X of which we years. the and for PFS patients

We're purpose cohort below rates begin thus, patients also Phase on the Consistent Phase moving this through the enrollment Part Based rate a months in rate leiomyosarcoma. This of identified placebo the sarcoma metastatic potential confirmation toward that for is on still osteosarcoma. X Phase of view hopeful advance are month pending we by second will data yet PFS XX%, X leiomyosarcoma around patients, cohorts year, three the and as We in established we to months. into interim that studies patients osteosarcoma is these we bone For at accelerated the XX forward sarcomas combining criteria. cohort predefined not X, total X all FDA X%. or observed get we context, threshold of a regulatory some as an shown that at treatment, July more be approval and that recent anticipate of with X, these as X And and the are so BAXXXX three a two encouraged patients these results significant PFS UPS first sarcomas. for in have are mark. weeks Part by need, by at cohorts they to thereafter. separate is with PFS X enrolled and and will meeting patients unmet of shortly observed soon opportunity was the The have X Part we for a or rate intend working believe into three When far, have reached not advance in other XX%. cohort two and line the into

in are those these is Phase generally Phase An cohorts, consistent We with the reached to provided no-go observed go sarcoma, sarcoma, bone to patients BAXXXX of will a with continuing enroll is well each X. profile across decision soon safety, X for regards With cohorts. sarcomas. tolerated in the liposarcoma, update as Ewing as other X the and synovial profile be additional safety

AEs events to significant treatment for like events your to data related peripheral XX, over the were no of leading President need few of lead not XX sarcoma. thank adverse Related Lydick, treatment were patients consistent Sheri? generally in to treatment X to the deaths Strategy, that, floor With due treatment commercial Only related the and and X did will to would Grade discontinuation. the were of we opportunity related like March safety who discontinuation. related treatment attention I'd As Senior with highlight Commercial AEs Vice Both there you XXXX, to curve toxicity. discontinued MMAE adverse turn and AEs. Sheri neuropathy. Treatment observed unmet as serious out and generally now

Sheri Lydick

Philippe, Thank everyone. afternoon, and you, good

treatments specifically very multiple Patients myeloma, the chemotherapy Nearly children limited for tumor rare diagnosis. that’s treatment as would rates. refractory X-year at XX% metastatic all know, is is drug rate and part consequence of malignant at excluding such suboptimal to unmet welcome of tumor most unmet will accounting for and a and low. is with subtypes are most addition often with patients UPS And sarcoma used to at is refractory tissue osteosarcoma for an progress of of primary that treatment in or They tumors, are representing the patients. you UPS to recurrence remains relatively bone suggesting all the only regulatory there type fall medical medical in XX% all radiotherapy high are sarcomas limited frequently diagnosed approved clinical often investigational also young or XX%. metastasis with As bone FDA UPS. well Essentially, In XX% sarcomas. aggressive is approved mainstay subtypes the of metastasis. surgical XX% to with standard the occurring below excision off adults. largest the need. high ORR options remainder, for There of of threshold of in curative UPS eventually highest refractory and the a threshold soft nearly a with quite the a therapies the malignant options with one The have approximately is progress conjunction childhood. above success. Osteosarcoma common one of malignancies. a is is these this often Surgical one treat cancer advanced all be XX% therapies no sarcoma survival treatment sarcoma therapeutic need, removal sarcoma the ORR Ewing rapidly. a aggressive often

yet billion treat to FDA patient to potential in Drug UPS treatment of and marketing X,XXX bone Designation sarcoma In are excited population addition target us our granted U.S. at CAB-ADC with for has and upwards to the significant trained, sarcoma. are Phase U.S. medical addressable revenue. filling professionals highly commercial a high encouraging Orphan there osteosarcoma The stage them group for approximately data BAXXXX company, need, The professionals and small served significant $X patients commercial asset to towards year from of a shared volume can be commercial X,XXX interim while in opportunity. represent the just can sarcoma transition generate medical our moves a unmet UPS, BAXXXX sarcoma study, we and a Based on soft who infrastructure that per of lead sarcoma relatively by sarcoma medical tissue Combined, the high the need unmet the to X launch. our that patients. closer worldwide BAXXXX centers

the turn ongoing over our to other programs. to updates clinical BioAtla call would and I provide an of Scott to Scott? Now, like Smith, to President overview

Scott Smith

to to upcoming a and Sheri, some few everyone. run you, good Thank I'm and minutes through take key afternoon, milestones. updates operational going

reiterate interim my the about I data Before of wanted do, X sarcoma the excitement Part to I Phase from study. X

unmet significant opportunity toward closer in we approval step need sarcoma one the in accelerated Given medical commercial regulatory move sarcoma, path of are BAXXXX and potential to thrilled multiple first-in-class subtypes.

patients. sarcoma, we this XXXX cancer. We cohort of in cell XX ongoing with our a non-small interim trial, active fully this X sites beyond call. be an anticipate with second update lung patients trial quarter of end in on and earnings anticipated the actively Looking XX Over we're or enrolling by dosing preliminary and have Phase to are quarter the enrolled around refractory

CAB-RORX-ADC. candidate, BAXXXX, product Now to turning CAB-ADC second our a lead

in the As are virtually no clinic. a reminder, targeted therapies other there

the first-in-class confirmed impressive X for RORX-positive we PD-X therapy, neck treatment tumors. in patients, head to PR patient for in a have refractory in complete in potential a lung, remission in off treatment two non-small In melanoma and Phase including who complete X a have response responses X, remains and solid we So years. cell over to saw PRs cancer

least where trial with have with cell and update in beginning anticipate cell is an update months cohort Phase of of year. the half after lung happy non-small have of patients to I'm second patients likely be three provide XX The we this each, lung. the XXXX, an with enrolled received these refractory to XXXX X at initiated to are We second currently trials non-small in interim preliminary therapy, and with the in half to dosing patients as of three up planned we

is conducted therapy, positivity to which refractory than Turning RORX to with anticipated patient and X XX%. enrolled lower have have around recruitment run been into to trial, PD-X patients The melanoma rate being trial in date. the at has only challenges we

it's has these which ability patients, in a to So tissue believe been biopsies trial. to challenge recruit our obtaining impacted we invasive significantly

working are with partner liquid We [Veracyte]. diligently on our biopsy

this be be We are the acceleration with non-invasive assay anticipate in available currently set. in the believe of there the and trial this We melanoma will in a availability enrollment validation liquid phase to significant us will biopsy.

When the X, Phase X have remarkable. melanoma positive observed to I'm take you has While complete of response in into PD-X enrolled with we refractory a happy which we Phase had out only patient patients also RORX patient that report account X, this very two complete achieved now complete a from two response, response. quite we is

excited of While very XXXX we're timing of about towards potential in in half unsure who we at of update patients year. an second interim the the point, melanoma this providing working this remain are

trial X the initiated combination investigator-initiated XXXX currently with every in study The patients of out the be States. platinum-resistant in patients The cancer. trial like a we'll to about was in now programs, and United X/X CAB-ADC this of with a refractory patients with that to X XXX third and every X multi-center we've monotherapy are in trial initiated cancer. This To CAB-CTLA-X for XXXX nivolumab. Phase our weeks screening clinical quarter and anticipate Phase as is tolerability to the We antibody milligrams round of and we XXXX dosed three in updates with and neck three head examine patient Canada briefly ovarian Phase safety second XXXX in milligrams first supporting year. is weeks I’d from ranging talk doses BAXXXX. ongoing or and

dosed and the CTLA-X. there's year. in the BioAtla’s this have excited very better and unmet of commercial quarter We to and a believe anticipate in a tolerated opportunity this first second tremendous asset safer portfolio need are patient We for back

in has bispecific IND phase CAB-ADC IND filings multiple a bispecific second preclinical as our this candidates generation an pipeline, bispecific remain candidates We to CAB-CDX that Turning next antibodies. for on were XXXX. ADC include in BioAtla CAB CAB for additional several IND-enabling submission as for EpCAM year, x CAB preclinical and generation antibody well and for track

investigate front, lead clinical like to X announced quarter financials. BMS's to Rick in On BMS that, a over early collaboration nivolumab. With our first combination XXXX to to we CAB-ADCs QX that review we with hand into the I'd in BD the entered with

Richard Waldron

Thank corporate financing you, integral is you. part our Scott. Thank BioAtla’s of an overall strategy strategy.

the product enhance be is objective future primary stage opportunities the inflection our stockholders. value and through or development product effective optimize to for to Our cost across commercialization our candidates intended candidate This for other current pipeline. major while expanding points, is financing

March of cash XX, $XXX of as to we December in cash As equivalents $XXX.X XXXX, million had XXXX. million XX, compared and

planned territories will product CAB the We ongoing price be fund certain into market royalties half or control licensing our and equivalents upon companies We to could programs and additional Selective collaborations runway for including that value sufficient biopharmaceutical cash, in generate of second expect Japan. development current and cash U.S., of extend for with all and product other commercialization and upfront the rights create in us cash all could stockholders. XXXX. regulatory development approval Europe operations, product cash CAB milestones

we first quarter the to million quarter of a $XX.X loss of XXXX XXXX. the first reported For a net of net million of $XX.X loss compared in

primarily is additional increase in candidates. million of million in development in of XXXX from to of preclinical including the CAB quarter our $X.X clinical and product development and expenses CAB-CTLA-X BAXXXX, to efforts, $XX.X the driven All first the $XX.X development by attributable of million XXXX, for expansion research increase development

of the to in period. decrease compared a $X.X R&D as was million decrease We to to compensation The General programs expect XXXX, the for XXXX product $X.X first we our first administrative of for our candidate clinical product quarter activities to continue candidates million in were our expand attributable stock-based and pipeline. and increase million $X invest for to and XXXX. expenses advance R&D expenses quarter to the

expand We lead G&A to expect net ended million support same BAXXXX, cash operating product activities to is requirements intellectual in our working activities candidate for certain March property XXXX, used compared $XX in in results. change meet for development operating expenses net XXXX increase of product for of all quarter months to $X.X our loss, period compared as increase in Scott. compensation, support our from The public Net portfolio, greater million pre-commercialization million activities and the operating company. the first used in cash used million our was three a of net $X candidates, the the products capital to and XX, $X.X activities for XXXX accounts in XXXX. now, the stock-based quarter increase first the derived back cash million primarily decrease to in in $XX.X And

Scott Smith

CAB have December programs Thank you, Rick. and of IPO we Since value continued achieved assets. our the and innovative number have clinical creating with of XXXX, our advance development clinical milestones our preclinical in to a of

As capital to potential. therapeutic our our and of BioAtla commercial to solid to greatest and to resources we strength will with our continues balance build affairs continue make the given use capability, market efficient tumors focus sheet, the of medical and on continue

it lives attention. your types. antibodies we to with you shareholders. about we will points prioritize achieving on solid our will long-term inflection our strategically efficient take key Thank operator opportunities company a your across to of clinical designs, our cancer meaningful and and to addition, range for value, thereby back potential the In multiple for to sustainable We're for patients' tumor resources And and transforming very order our CAB impact excited create trial have the execute in turn questions. for therapy, strategic that, value

Operator

JP Rama first of the [Operator Anupam comes line Instructions] Our question from with Morgan.

Anupam Rama

synovial hand you us of sense think some patients? two second there the in the worth question two the the with anything for peripheral if And is, Ewing patients those said I characteristics you'll with you question then first for neuropathy, the liposarcoma, regulators? on baseline the My a July. the of sarcoma, in side, and when safety meet in -- data you go noting have give can

Scott Smith

there. Anupam. going question, you that for to Martin your the questions I'm you ask put answer to forward two directly Thank Philippe

So Philippe?

Philippe Martin

Yes.

with the remaining based availability. out still the that -- schedule at tentative point July, we're cohorts agency the the So it's like the that now work that date but to should have be all time the July on still general right we will we working to with I'd a anticipate is by meeting are data timelines, we that the based agency are meeting. we'll on from agency. recruiting, Again,

So want We've those make neuropathy. patients I you. the a then for the patients two joining few of neuropathy And coming for just to had seen those believe peripheral I patients, Grade peripheral the two prior before of to peripheral clear of baseline history one trial. that X with in neuropathy,

the patient's We progress X. to are and Grade allowing that

X definitely -- is forward. a acceptable out I -- XX going that but mean So of consideration is this rate patients

Scott Smith

Particularly that neuropathy. whom in of of coming this studying, population we're with in many multi-refractory history peripheral are patient

of ADCs technology So out playing multi-refractory again, other low because patient shows bit CAB think quite I the it relative a to the little the are studied rates in clinic, in population. this

Anupam Rama

the disclose other when you should data from some liposarcoma about or the disclosure around you of cohorts the be how them cohorts? we have Ewing and those thinking synovial and like Would

Scott Smith

really we on UPS, to for response phase didn’t X. run in bone didn't them. leiomyosarcoma. because we on we we’ve and saw saw note see those leiomyo And in in confirmed that cohort what continuing Phase didn't large saw Yes, And We so one to we're see a information for have decision in a response enough we X least -- to that Ewing in It's confirmed and X for and areas by right in Phase we responses at on UPS, we saw now. and we enroll want and conference wanted made important should information have it responses the a We'll PFS move in will we have good that we Phase haven't sarcoma UPS and disclose certainly amount we don't bone we what cohorts of that But where the a Phase two right I'll to in I'm just decision of saw to validative and see of data we take in is Once forward in in moving the going the update call. the right osteo, to right it you we make really didn't information of we a X. X. forward to are We agency and and these to about very cohorts. next compelling validates kind say, seeing Phase forward. now subtypes talk and have we we're you pleased the sort or larger

Operator

Our next question from Tiago Credit comes with Fauth Suisse.

Tiago Fauth

quick, one just box here. check So the

few different the a different tumor for values charts sarcoma. So had membrane percentage score the for

data So in just all Phase the are to those patients confirm, X presented plus, today, XX% that correct? you

Philippe Martin

allowed XX% you're correct. but were That's all more. seeing more XX% patients We the or for UPS or

Tiago Fauth

see there perhaps given the the you've responses was X, on seemed expression. Phase do that -- the leiomyosarcoma any And subtypes? basically the that not why specific so From that likely response is Phase on drug solely the just biologic rationale you X. even anyway, those response will correlated had a AXL if seen on more with active And it is, look you you underlying be far, follow-up

basically XX% one XX across arm. You monotherapy the -- the patients response on had

here there is see I'm a you So could if not selection on a results? such curious why perhaps strong that, confident are signal how just perhaps going forward? rationale that that’s is positive there differed that you and

Philippe Martin

Yes.

will to In Phase mean, Phase that more see a seeing, were of X. quoting We to different we very in are extremely of rapidly in in results X patients The treatment move And have number are X we prior that us the three for response. patients with lesions in for We as -- accurately it's I saw advanced -- that So still and competitive advanced I having and Phase in forward response, a think of I reached very still we had number because are not of been X. think Phase these we the patients too most number think But I relevant will is probably progressing of signal saw be activity are change advanced leiomyosarcoma, still signal yet. failed and are on going saw time molecule. lines we'll a that the endpoint that because rather and in osteosarcoma low to to the what three osteosarcoma, calcified of reach month a that saw the that therapy. -- established that XX-week, survival leiomyosarcoma in results were probably environment. leiomyosarcoma advanced reflect able are in reproduced XX%, point clearly than not progression the number may in we patients tumor that UPS we patients osteosarcoma are shrinkage or we true then the free too measure anti-tumor be is PFS than anti-tumor the saw don't think line activity the objective of the

within advanced shown that a three that at light encouraging in months to therapy, to one in X quite study, PFS Phase for average lines Phase And at of fact when XXX% had are generally metastatic We prior rate chemotherapies two prior lines PFS are the on XX%. survival osteosarcoma seeing progression So that response treatment around these of efficient of treated. and more community with the XX-month are patients see progress patients, of you us reliable type other low into have we're expert X see were as move not that free in progression they rate patients When of of of a patients these these of endpoint X. of osteosarcoma in weeks. three studies has favored and highly XX%, the have at patients a terms is use of the

in here difference to move rationale forward we a we So why that's a and it's striking strong believe have osteosarcoma.

Scott Smith

combination and in in one one thing is I combination, Phase want say, to UPS saw Philippe we where for very but responses what we X, saw UPS, as number saw very in mono combination strong signal we but quickly. XX you we two other of a a fully that both another in very two add signal in in could small to was patients saying, one or and UPS We in mono saw XX X in responses and patients. have enrolled

So that move we quickly X. to fill and not to up decided Phase

Phase seen between responses to we've response X would the and fact we the enough move Part the into that but registrational UPS have we other this rate, of Given it's a had cohort. likely had X X registration cohort, got in continue and of security forward to Phase XX% X part fill up we

So with we saw very there we what in with and what were very saw X. Phase pleased we validated

Operator

comes question next Jefferies. with Shi from Our Kelly

Kelly Shi

the full the you is which what enrollment the clinical and cohorts, are share results? for you yet could First, status time to follow-up median report

Scott Smith

the I Kelly. question. just you question, the right. have So But us me sure repeat, it make let let for Thank

want filling because not they up couldn't we You did make time decision? in cohorts, which know at timing point a where weren't to we on the this full the for report

Kelly Shi

Yes. in And if I'm about you curious for follow-up full patients could disclose? enrolled just I think the median specifically that cohorts

Scott Smith

I'm didn't that understand the two sorry, part Kelly. I question, of

Kelly Shi

the So clinical cohorts you the time outcome. for median have full follow-up not presented

Scott Smith

You mean follow up time?

Kelly Shi

follow-up median for disclose? in the patients you full Are Yes, time, that to able cohorts. enrolled

Scott Smith

haven't now. No, that disclosed we

Kelly Shi

also… Okay. And

Scott Smith

a to Phase to enrollment couple saw encouraged move preparing here there, where be see by sarcoma I we we though update, we're as they're and a of these cohorts, sort will with we are some types call not we where X. we're that We are let as want know well. say, you we we because more of just can't cohorts that to that will forward definitive, very even from certainly But QX get other are, them. the we in get

X Phase that fulsome on that more to X. get into forward patients cohorts So there'll likely decision. there other it's what believe a based Part moving But we in want I see make to we of today, be that do highly few

Kelly Shi

Okay, Also follow-up. have great. Thanks. I

So response]? UPS, in and you the level observed between have of expression the [depth AXL the correlation

Philippe Martin

-- the we so more. Yes, part, all UPS and XX% in in for enrolled the Phase patients had the a -- we've X X were X of -- Phase TmPS or Part

responding a responded to had we've And these PR. treatment, so least seen XX% at and of them patients

comes in is at it's, we've broadly patients that XX% So TmPS that -- have I the XX% around correlation it of responding. are correlation More mean, that the is sarcoma, that seen TmPS. response

X, Phase patient in you not and XX% XX% if Now, enrolled TmPS. recall, between we did

Unfortunately, part wanted patients, all And so patients. TmPS to a of explore these or rest we enroll only to able of far, XX% X, Part have of were X as X the we so more. those Phase

Scott Smith

Philippe’s add say comments. will -- just to I to

is for very are patients of But expression. very AXL XX% them the patients, high. are high positive, are UPS the most AXL things about AXL of generally of also AXL they not us to positivity or One who usually XX% only UPS positive have a level

very studying And for good further. so to a it's population us be

Operator

BTIG. question Our from comes Pohlman next Kaveri with

Kaveri Pohlman

sarcoma? you on believe color Can My first for is the development strategy color any Because any provide therapy, on I combinations really combinations. there? approved provide itself monotherapy PD-X or question these your is regarding not PD-X --

Scott Smith

Yes.

-- I'll in general the Philippe that very any believe hand So, as population. But this if sarcoma to little, I over color, the in a we PD-X saw answer. general for the benefit substantial more saw from we

X monotherapy cohorts I certainly to and believe change, in strategy forward the our So unless will forward. moving move things in be development

Philippe Martin

add to that. don't more to I have much

we I in to a the in that think that -- I expecting to BAXXXX but see benefit we And were we sarcoma. were wanted generally think confirm adding it. didn't PD-X

and the so it me be let on and we'll non-small melanoma. different may in it somewhat to forward, lung expect And be going because that, cell different focus in monotherapy cancer stress we sarcoma,

Kaveri Pohlman

for suggested much to you is slide RORX allows compared decks previous I with regarding and lower believe TmPS your payload lower of AXL one And RORX, the kind AXL. to that of build the RORX in for TmPS Why it score toxicity? score same

Philippe Martin

Yes.

of just information because or have AXL, membrane tumors of payload, So the what we where than we RORX, are the it's AXL also level broad it's expression testing. doing have for RORX more. now with where on we are not the of we And went for and less right of X% score the about TmPS about a we

XX% in of threshold, benefit that if in we For can the one we've at of seen Therefore, head a a up chosen X TmPS patient derive patients. but we score. might those the could see and well we reasons, and is X% for that fact neck have as was couple go PR Phase XX%

important going for into studies. for the forward and it's what really RORX registration think cut-off to AXL studies Part to the is I going the of X be define

Scott Smith

relative Philippe’s clear expression was comments, important. expression response It's important RORX think that it's It more able AXL AXL expression much to to us AXL -- I the And AXL. characterize also very, regulatory more to for very definitive agencies. It us high the or to in low be seemed and with to responded didn’t.

As a Philippe XX% neck well. patients alluded and with they XX% very TmPS to, responded of those positivity, head and very, RORX

characterize expression RORX the and to response. between trying relationship we're So

Philippe Martin

complete that to else, that's hasn’t The right? it's XX%, not so disclosed something for patient threshold that add in I'll mentioned disclosed, is far. AXL was just below think I seen And a we which have had response sarcoma. that been TmPS So RORX melanoma got XX% Yes.

go it for narrow should need continues do to -- broad sense that. then we for so and to makes down it us And it

Operator

from Butler And question Tony Capital. our next comes ROTH with

Tony Butler

a help ask bit. Perhaps a just all few I questions. may have little I could them actually upfront

those X MDMX at were of apologies, So rate? scans with what number correlated for But markers have patients, are or respond? it I to spider patients which or questions. did there they thank is Again, other plots one for UPS the sure, are who scan or Phase there were evidence is, patients question that that observed those is, And question was least two receive my of in just two. second spider I it. you That's one it, patient questions make Was two amplification and with example, Number on capture didn't taking amplification show did three, just you impressive. plots, stated a only Question wanted X I quite one. had follow-up? X? of did the you any the response That's really the all that on CDKX

Scott Smith

last it two of patients, Thank AXL And over questions. answer Phase detail, first, kick positive Tony. responded, saw X question I'll first of then you, we UPS and more to X X. whom X, in And your into get both Philippe the to

Tony Butler

you. Thank great. That's

Philippe Martin

per of X.X milligram The kilogram. RPXD

question, first I'm sorry? your was what So

Tony Butler

sorry. Yes,

so for just there abnormalities? markers, trying -- other see it So example, let's MDMX any if was other in genetic amplification, CDKX correlation I'm genetic Thanks. And just to fact, amplification. call to

Philippe Martin

once full information, yet. and cohorts we gathering cohorts to if the sure that. this is we'll we're the we'll full -- haven't be on And you. enrolled. correlation, have able We've report make we then Yes, report to We'll And we'll it. analyzed it them be data to for waiting any the just for do gathered highlight we see

Scott Smith

was the And spider to second in scans the plots? question relative

Philippe Martin

that not seventh yet you The are will you reason X but plots, is first for the scans seeing osteosarcoma, not have either. has have a X spider the had scans patient the survival shown. patients for the note you XX weeks instance, yet, -- so and only patients free had Yes, scan Phase has in X, in you're for progression and X

it's So scan but in patient and shown it's because censored PFS, but have have on don't the treatment, we undergoing obviously not a yet. captured -- is patient -- the not the we spider being in, plot first

Tony Butler

one you other Yes, thank scan two the scan? one but But than were It's you or patients have Philippe have also all that. have mentioned, some great. for do also they -- --

Philippe Martin

osteosarcoma, patients, if only patients ongoing Yes, far. is of you the one -- that that's second second the so line there's and -- don't two for between and two in Patient two one waiting has these instance, one see a but so overlapping for scan. scan have most scans,

Scott Smith

this way right? population. that to And I you're Did other the patient So all scan from four has the your about, talking four answer one patient scans scans question? in

Tony Butler

-- absolutely did. did it Yes,

Scott Smith

-- encouraging And patient difficult update that and call population. at well. how the and to information these very this these this continue, time on the as here as further is very, But again, patients with treat for what’s we'll we very and patients QX what are see scans update we'll progressing a

Tony Butler

ask. early, and I understand it’s but I to have Yes. very preliminary

Operator

from [Operator next Instructions] Arthur Wainwright. H.C. He question Our comes with

Arthur He

is LMS H.C. Wainwright. question the on been from This my I answered. has Arthur to just want follow-up of Most cohorts.

patients, For any patient get X all the received those Phase levels? dose there the is dose patient seven XX reduction or reduction

Philippe Martin

have of X and reduction, So or Phase a not me, reduction. all patients and some X.X we had kilogram the to is. number per number some But AEs related follow-up some don't dose exact that that to dose because let But have but patients had patients what patient dose to in require I can have with dose I milligram started sometimes a of were front a few yes. reduction, treatment. know related have that of

Arthur He

the for on to for score the the XXXX response the gear X X? patient switch us you more Could patient the Phase a to myeloma. enrolling in compared that And a give study? color has RORX Phase score the in the complete How

Philippe Martin

there determine We I recall what the is in is the that malignant but a response score that, patient us not because seeing score. just patient it here if saw the XX%. some of So that couldn't patient able Phase was, the staining give staining Phase cell. we score and of entire TmPS for you the were surface the from X, complete X precluded In RORX so were mentioned, to we melanoma

of one And right is what CRs we the know TmPS now, that so two XX%. had of a

score. don't the The other have we one,

Scott Smith

physicians were have this our about positive unusual just two to patients is we see And difficulties. seeing to in we at operational very in biopsy remarks, deters idea requires it excited an when more having some are negative really There that -- the about been as would positive invasive positivity around This and many responses. prepared program. complete them. to both states a like biopsies then rate in add, to I talked XX%, which the get of we're RORX highly

excited the potential to us help So a way. liquid very I think very, biopsy, really we're good moving about this a And in. in will operationalize

Operator

the management conference like this time. And further I'm currently no hand I'd to for back at to remarks. showing any closing over questions

Jay Short

your attention and today. thanks, We're Thank we're… for and ahead you, very the excited and everyone questions about year

Scott Smith

Look continue our And Thank very our you you. progress. exciting coming with clinical we're up. a with very, on about in we for of excited thank to move we're know if very And might attention. to think programs forward to inflection look the much you update points the but have time very, And lots your to future. through update Jay continuing there we just think, quarters. as I very I everybody forward -- don't I lost we

Jay Short

I Scott. everyone. cut did Thanks, a second. for off Thanks,

Operator

conference. and participating you for gentlemen, Ladies today's thank in

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

BioAtla (BCAB) 7 May 222022 Q1 Earnings call transcript