Earnings call transcript Q3 2022

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Operator

Good day and welcome to the BioAtla Third Quarter 2022 Earnings Conference Call – pardon me, BioAtla. [Operator Instructions] I would now like to turn the conference over to Bruce Mackle from LifeSci Advisors. Please go ahead.

Bruce Mackle

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

whether statements plans regarding strategic enrollment we I’d clinical like to registrational, our including, made trials; and prospects, clinical research partnerships, call conference conduct, of plans this forward-looking respect licensing begin, with and our potentially other dosing to trials statements, will statements timing and collaborations business Before expectations will not but results, in be regarding potential and selective our to, limited programs during and development remind trials, progress everyone BioAtla’s include clinical and that and and trials, approval our about clinical Form cash updates, path most various quarterly subject data with These G&A and statements our that results actual expenses. regulatory the cause the product for regulatory future submissions, expectations filings and cash and including in R&D expected differ candidates; meetings assumptions the materially and potential SEC, the are of can equivalents to are sufficiency on made uncertainties report described risks, XX-Q. to the recent regulatory

any by and disclaims forward-looking as speak only future except which BioAtla statements, as law. reflect events to cautioned are these statements or November undue to circumstances, not X, today, on You information, update required to XXXX, reliance place of such obligation

Jay? over call to I’d Short. that, With the turn to like Jay

Jay Short

to earnings third Thanks everyone joining for Thank our BioAtla us call. quarter XXXX you, for Bruce.

and our enabled for development of preclinical the CAB applicability technology. positive advancing broad the innovative trajectory continued BioAtla’s of programs We by the clinical

strong for first-in-class multiple our and promising trials therapeutic tumor The types product execution third across latest-stage ongoing five X these two solid was BAXXXX BAXXXX by results across for Phase our with CAB-ADC continued marked quarter candidates, candidates.

responses. excited progression, are and anti-tumor of we the with continued activity lack partial disease Additionally, multiple with along

additional X study. BAXXXX on cell are I as previously our sarcoma to We that our feedback any sarcoma our everyone from that X now of lung present proposed lung Phase we website BAXXXX on additional Phase non-small we X before in as updated part on our further, to Phase data available our shared what study. well I’d our FDA from cancer our going the for patients additional are But X As path BAXXXX company recent be forward like And to continue cancer forward cell as both. to go related BAXXXX enroll helpful Phase to interim non-small details may insights we presentation and study study you. providing to remind look

other call, discuss today’s on Further, our for additional programs. we updates clinical will

Our enrollment of BAXXXX to progress, our year-end continue up for by Phase cancer lung X studies XX in January. completion to reporting and study non-small we in anticipate cell patients

our implemented in before year-end. liquid biopsy the melanoma validated assay using being Our studies assay

anticipate dosing we patients our neck multiple and study is year addition, and by In ongoing, head end.

BAXXXX year-end. by our cohort third X/X Phase and completed is CAB-CTLA-X basket trial cohorts with the antibody, for X first expected nicely Our the progressing

bispecific the track for T-cell received fourth on IND dual also feedback FDA encouraging remain CDX and of year. our the or this pre-IND quarter We for antibody, of from CAB BAXXXX engager an EpCAM submission

up next with remain for we on candidates submissions next-generation Additionally, to IND CAB track year. two

to execution. efficacy from continue CAB we preliminary with with cumulative and that support are We results far proprietary the differentiated well to are strong platform thus both and our safety in pleased our continue XXXX, poised

Phase as well as X well updates non-small X today’s to from from lung our covered including exciting discussion, several upcoming important study Phase study our BAXXXX. with be additional our asset, results lead catalysts cell have sarcoma We as as cancer in updates

I like to additional Philippe? turn for Philippe now details. With call would over the to that,

Philippe Martin

afternoon, you, with X CAB-AXL-ADC Thank cell I like in good providing lung an and on study update our Jay, would non-small BAXXXX. by everyone. cancer to our Phase start

reminder, non-small our X, Phase As of X previously part ALK have patients in cell a AXL-positive ongoing cancer experienced lung in study failure EGFR or PD-X, who therapies. is inhibitor

patients, a and lines patients These As XX enrolled at October, variable. patients XX of failed X three patients prior XX EGFR on patients. composed systemic and cell carcinoma have These failed patients X efficacy squamous of therapies, we non-squamous average PD these of -X XX failed had XX inhibitors. are of are had

administered of of PD-X this X. to combination in observed failure patients, date patients, patients X Regarding non-squamous the or the ORR patients These observed non-squamous two the rate evaluable confirms observations XX%. consistent responses were XX of in X partial enrolled patients, and this X is ORR observed in have no BAXXXX of data and the Phase inhibitor response, XX%. a CR, group, yet non-squamous an PD-X nivolumab. have X a Of we and cell preliminary with quarter PRs or In BA have XX%. XXXX monotherapy representing the response last or objective patients, XX for were subtype. In we received ORR In we not squamous efficacy quarter, signal reported observed in group, combination complete with response an new the in remain carcinoma

enrolled based squamous or the to estimate lung for to be XXX We were sample listed non-small population with cancer patients in AXL high. far continues XX% over lung All more. AXL population expression. approximately of non-small approximately tumor GNPS for cancer non-squamous cell so positivity cell population on it for XX% be a the The AXL-positive X% the rate and of

deaths and treatment-related profile and no AEs from have monotherapy study As X No safety data ADCs latest in other the non-small Phase differentiated cell cut, combination safety nivolumab. few been in the Phase X and tolerability the MMAE continues of from new cancer from with to X, grade reported. be lung identified were X, signals

BAXXXX small highly perspective, set, relatively data PD-X group registrational the to for moving that monotherapy non-squamous the into in this put study. refractory sample this of notwithstanding this forward competitive study To supportive particular, part our potentially of in preliminary size and of is data the and the population observed in efficacy observed this and

or enrolled part which registrational patients, be the cutoff, of allow to analysis continue which we we will advancing which help to In to As perform population we to XX treatment have year-end. in the meantime, us data better part study. the will an us enroll interim patient by of and potentially cohort cohorts, define X

X predefined of we to that both X, data, Previously, of interim provided sarcoma. Phase ongoing the X In part found trial and BAXXXX. osteosarcoma which BAXXXX, to Phase on subtypes PFS based at study least XX% our rationale and UPS into part we at for progression-free presented rate either part Moving X X moving least the responded X-month. a complete response, or at internal of of criteria X, of subtype go-no-go forward or response partial the on for

see from a our to During in our call observed XX% rate of are quarter, X predefined of go to meet rate a we where into PFS study. PFS in sarcoma Phase we subtypes additional subtypes all predefined of data osteosarcoma. encouraged synovial PFS Phase part to continue liposarcoma, XX% and improved continue cohorts last that rate X of criteria advance Part three go exceeded shared very To our or the three in three PFS similar the criteria subtypes sarcoma date, X. X slightly and of All in all rate to we XX%

profile X well regard safety Phase be with across to sarcoma the generally safety With tolerated a to profile profile the subtypes, consistent Phase observed in continues BAXXXX with X.

written to selection for design. feedback on sample agency response had a As the particular, our was was or in In proposed FDA criteria. study primary population we minor UPS. communicated with pleased previously, response endpoint of FDA comments the plans are we size the our in proposed and a patients with the had rate October, initially of this registrational feedback not asked and XX as received opposed regarding total Written to inclusion/exclusion with proceeding in objective

on we path as the to BAXXXX written this also a observed UPS. we intensive agency for this a supportive was population, toward believe BAXXXX, profile the in from forward arm feedback and including this advance FDA dosing of study. compelling registration of part have in Based more

We feedback the to this plan and those of inflation protocol start the finalizing end by agency’s currently following the year. are

Additionally, strategy following expansion we a plan approval on BAXXXX moving forward of with additional UPS. label sarcoma as subtypes in part

Sheri? I’d in for significant commercial like cancer. you the now non-small your to thank attention, Sheri highlight and and unmet need lung cell and UPS will medical opportunity

Sheri Lydick

good and Philippe you, afternoon everyone. Thank

of one representing we today largest quickly the our aggressive currently unmet high the need is all sarcoma approved is to the FDA UPS or treatment in soft rapidly. of and of received for in no and pleomorphic most sarcoma, to sarcoma. leading to are Phase of our and specifically are guidance indication the highest study, subtypes, BAXXXX. There UPS observed the one excited subtypes one It data sarcoma undifferentiated tend with very X treat of XX% medical move the pursuit FDA recurrence tissue progress UPS, patients With nearly rates. also

peak. opportunity quite estimate to number and patients worldwide In from who addressable to AXL XX,XXX UPS of and Europe alone. Adding is per AXL-positive Rest approximately addition, benefit UPS X,XXX of in the BAXXXX exceeds we positivity World, at rate $XXX high there per in in could UPS X,XXX a year we million are estimate U.S. potentially which the around approximately addressable commercial at patients of year, be XX%,

we UPS represents stage biotech into for initial a a company. as indication seek solid BioAtla commercial As transition such, to

sarcoma subtypes, sarcoma include to label footprint synovial data Additionally, our observed perhaps is and to and in based an osteosarcoma, subtypes. expand opportunity on other liposarcoma, there other sarcoma

in sarcoma in very in responses and to Furthermore, this of we’re the Ultimately, observing medical $X be has potential revenue by worldwide the year need. with BAXXXX cancer. unmet we limited plus enthusiastic generate continue XX% refractory lung these multi per up to to patients There non-small on checkpoint area the high XX,XXX billion treat in setting progress have immune treatment approximately overall response inhibitors and beyond patients treatments for XX%. to line rates cell options suboptimal of who BAXXXX and available objective second are

preliminary lung market revenue an $X.X to ORRs to enroll are population. as U.S. believe proportion at worldwide And patient per that with in $X size, multi-refractory XX,XXX per based more of on non-small approximately in ORR AXL-positive in very highly continue cell relevant cell to patients line non-small above current potential addressable commercially year BAXXXX peak. we year approximately a has XXX,XXX over This is express the add patients see AXL, indication and well respect encouraging. to fact to billion second there we patients that estimate be in The anti-tumor billion activity worldwide. plus observed observations, a With and lung the significant XX,XXX will interim we we

we cancer, a potential importance be to BioAtla medical is a asset lung BAXXXX across cell Taken treatment best-in-class to greater for for together, multiple has even potential types. lines significant the need. non-small sarcoma solid believe thus significant has that significant commercial and of multiple a who BAXXXX patients fail number filling therapy, become tumor a unmet the of Of

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

Scott Smith

Sheri you, afternoon. good Thank and

want in Before I share BAXXXX updates quarter, forward the UPS. I Phase part X review proposed our lead with asset, our study excitement cell and path key non-small tissue on specifically operational X lung my around cancer sarcoma, updates of the for soft the to

patients. are cell we’re additional First, we thrilled responses continued in with enroll lung, as observing non-small we

XX data cutoff, of which we are XX patients, As enrolled efficacy have of evaluable.

are see XX end responses remarkable, monotherapy a to patient cell out multi-refractory with year. this in out and of quite this lung These complete continue patients in interim response arm. with through of scans with responses combination the X of non-small by both anticipate and full of nivolumab non-squamous X responses approximately to therapy monotherapy population. multiple especially set We in patients X partial combination X We data in the

detailed with anti-tumor full will far XXXX and are compelling before both data nivo. study activity with We to future for in in wait combination the determinations, analysis thrilled see interim monotherapy thus we making but

noted, Philippe registrational study, of be as are the Moving moving into pleased part potentially to on UPS, the two trial. of very we to the portion

protocol We in are year-end. study currently that commence and finalizing dosing anticipate the enrollment will by

continue we activity anti-tumor UPS, soft several and to positive bone sarcoma addition across see tissue subtypes. In to

subtypes. for sarcoma sarcoma and internal We continue exceeded enroll do and our liposarcoma other criteria osteosarcoma, already to synovial have

our In label we strategy, are an UPS other UPS sarcoma obtain initially expand opportunity approval significant opportunity stand-alone on focused terms in represents of our include sarcoma UPS. a should we as to overall with a to commercial indication. subtypes

we subtypes, unmet footprint coupled observing medical encouraging the real see other in need, activity with time. sarcoma given However, expanding a our anti-tumor value significant potentially we’re over in

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

X date, lung, patient we to therapy, there responses treatment the reminder, who are Phase saw X potential refractory three To remission beginning In over X, X least cancer Phase trial non-small the off of next of RORX-positive patients are in provide preliminary clinic, therapies as and PRs is to patients response PR going enrolling of with lung. this have interim on X a non-small patients in year. and happy complete PD-X cohort head in anticipated update in targeting solid we worth update and have with neck we As plant therapy the cell refractory first-in-class a beginning up lung so dosing the including XX at treatment complete no trials XXXX to at each, in with melanoma tumors. to of other following for with months for an a The X we have a cell remains to cell years. non-small a and an in impressive where I’m currently

melanoma initiating of following of screening XXXX the very with being non-evasive therapy, PD-X to biopsy been about and this assay We end the implementation patients anticipate and refractory enrollment liquid trial, to remain liquid melanoma of has with which conducted validated by bioassay. particularly we acceleration excited full patients, of the Turning potential in assay the potential the the year. is

study is enroll to provide XXXX and XXXX cancer. with is platinum-resistant investigated out and patients and This on supporting as we’ve a XX date, been five dosed ongoing, our initiated dosed The We anticipate This is have head available screening we initiated total actively cancer. one XXXX program. neck patients. a in Phase we third or ovarian year-end. Phase trial update with each trial continues X patients multiple programs, to patients To refractory of study an round with in will multicenter X are patients clinical in becomes of us. To CAB-ADC

cohorts DLTs our in This to to like planned being and safety updates for I’d will Phase with CAB-CTLA-X completed tumors Now antibody, trial is to of be This X and talk in XXXX known conducted responsive is CTLA-X without SAEs with tolerability evaluate about in progressing reported. and briefly as first combination X/X treatment or trial BAXXXX. nivolumab. any monotherapy the

of period dose to anticipated The third equivalent cohort, which is ongoing year-end. is at with a by to observation the dose the conclude DLT approved ipilimumab

include to Turning candidates our has with CAB BioAtla antibodies. preclinical several bispecifics pipeline. ADC in IND-enabling phase that second-generation

bispecific our year. by CAB-CDX and feedback adequate to CAB-EpCAM forward, move this our Regarding on will the that end track received IND we written the remain FDA of from is we submission with package pre-IND BAXXXX, preclinical

next-generation remain and also CAB on XXXX potential We for IND in for preclinical candidates near-term beyond. track submissions

With it that, the hand Rick to review I’d like to financials. to quarter over XXXX third

Richard Waldron

Scott. Thank you,

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

current sufficient programs second CAB fund We operations, into be planned ongoing cash XXXX. product expect will development to and including all half cash equivalents

As a rights CAB market in control U.S., Europe Japan. we product and reminder, the all

create and opportunities royalties strategy to while advancing global business our biopharmaceutical product Our that upfront licensing provide stockholders. the runway other extend milestones us and rights upon could and commercial key with includes through territories markets additional development in collaborations approval to to by certain also in or preparations companies commercialization generating regulatory selective cash cash exploring of value

a development XX, quarter of $XX.X the loss loss Research XX, we of For same The of quarter increase our of to was by million the XXXX, million in quarter same $XX.X driven to ended million XXXX. expenses million quarter compared a XXXX, million development ended primarily XXXX. compared and the $XX.X $XX.X $X.X clinical the in third September reported net for were efforts. net product September for

clinical to remain We and in activities from and advance we expect to candidates our R&D programs. generally expenses continue our invest increase product our variable R&D quarter-to-quarter to as

compensation the ended XXXX, a were $X.X to quarter for XXXX. $X.X million expenses General The quarter change period. and for in $XXX,XXX XXXX to September in was stock-based same administrative for the decrease the million attributable compared XX,

G&A BAXXXX our pre-commercialization product public our portfolio, expect to development intellectual property activities company. of our our product increase satisfy requirements and support to We advance expenses a as candidate candidates, moderately for support

activities due compared as of the is X to months used activities was compared activities Net The research million increase operating $XX.X program for XXXX used period operating ended months in net September primarily first same efforts cash in development months for an of used and to for X to net cash expense XXXX, in the X increase operating development in million $XX.X in XXXX. related XXXX. the XX, cash to our of the in first

now to Scott. back And

Scott Smith

Thank you, Rick.

We that have across progress the are made very this pleased portfolio. we with the quarter

beginning are with refractory into that emerge X part the is are in compelling the study eager We of lung profile advance cell non-small clinical in treatment UPS. Phase excited the and to cancer potentially registrational to

multiple remain around encouraged promising execution CAB other our assets cancer in continued also indications. for We

poised milestones significant future. for inflection enthusiastic We with CAB execution need the have our focus pursuing include patients BioAtla remain impact on will will about that high we are well several to with innovative feel our of continue and unmet to reach worldwide. goal medical shareholders have assets indications and the value-creating points of strong

the operator that, will and With back you. we now questions. take Thank turn to your

Operator

please Brian Our from Instructions] from go JPMorgan. [Operator ahead. comes Brian, Cheng first question

Brian Cheng

on the that patients the Can across you today UPS. time presented congrats thanks some for NSCLC? Thanks, XX for respond seen and question. the to follow-up I AXL-positive the progress. on And my you durability response have and you’ve that And provide on color taking one then of

Scott Smith

I time question. some of around thoughts first ask Brian. two color to your the initial – Thanks respond early it your will point, the and able Philippe? although us durability, you, definitive is but parts the on any give of question study Thank also around at will duration durability to I Philippe in to to be for be say have this on for to the awfully view

Philippe Martin

Scott. Thanks, Yes.

treatment as we your a scan like, cycle at or second cycle either second generally a responding X to have – I early regard to us we’ve a first X scan, the So as so response as months scan, scan, durability said, been have saw scan long or of first on treatment. with for it’s what – response X but cycles, been about response, first sorry, on observed as second give that’s you And number, at weeks. Scott early is patients first cycle I’m as

so are we a durability. not So, seeing with problem far,

Brian Cheng

And you’ve Great. the that pretty UPS is that for then the Phase intensive had you on previously more we space. response the planned noticed two already was the in competitive a side. front, there for I part that arm dosing thought that X UPS

dosing So can I’m there of is the shed wondering What on arm. of a get if you exercise see you to light why response. an is arm? additional better intensive Thank And is this can exploratory more importance this dosing more you. if some an

Scott Smith

for very you Thank Yes. the question, Brian. much

Phase combine very and very patients very in UPS difficult control. – population. we which this like UPS high Phase disease, difficult patients, a to other rate, We get seen our X XX% under if sarcomas very, have X response is seeing we’re particular

dose just exploratory high-intensity arm even this is efficacy. if to see we can so get better And

patients, will choose after And that one have initial million we the have of move dose two will ounce arm we dose X.X to per also move those kilogram arms at forward. we an will forward. current of We an

far intensive benefit tolerability good think safety will try we us we we coming seen positive more have see and that, allows If the to so arm. into a risk go it’s current to that that overall, arm. very I signal the So a don’t

very overall, think a development. I So positive

Brian Cheng

Great. Thanks, Scott.

Operator

go Shi comes from from Jefferies. ahead. please next Our question Kelly, Kelly

Kelly Shi

the taking Congrats great progress. on thank for my you question. And

also also, mean enrolled should expect And these beyond of not so the patients, the actually for you lung have – XX a we And for non-small data to cohort, update? And I next do patients cancer enroll Firstly, into non-small the patients? XX And more non-squamous? XX why how efficacy many do you cell follow-up. I patients evaluable extend intend XXXX? the

Scott Smith

Kelly. for now patients. data the much very the patients cutoff actually have you Thank October, now we’ve a enrolled was question, XX XX in we Yes, late

on make based through our the patients expect study to to and bolus/reports two decisions multiple a on our how evaluable on decisions agency, of FDA We the how XX to make X the scans. of part on approach structure part

questions answer the So to protocol, we’d And – an up squamous still that XX etcetera. but some we versus under opportunity enroll to have do, non-squamous patients. combination to there therapy, versus monotherapy around outstanding are like

So they are who patients. but in so they are going patients squamous. yet enroll the more is decisions additional XX cohort from continue are use but multiple gone to I of initial not cutoff, are we just to LXX, the patients will known I patients the that to some know of all through scans make that we the all off study, the I XX personally believe non-squamous believe don’t have

there? any correction So

Philippe Martin

were correct. XX patients. No, are XX first squamous variable And squamous efficacy still talked patients. non-squamous during the of enrolled not answer that out about new we same the patients update. patients patients. These two is We’ve had to last have your question, We the

Kelly Shi

regarding design? more color share for FDA Great, registrational trial or also actually UPS, the feedback the you thanks. and And on can also more the talk details

Scott Smith

Yes. bit on more little written the the to – Philippe, response the UPS, Kelly, forward. about a do FDA little you bit a from moving design talk and context want

Philippe Martin

Yes.

study. FDA, we asked endpoint. for for So registration we a as part set the proposal the of ORR a primary FDA to

arm no We XX and also intensive had then patients dose to arm, including more study FDA we and more the the – the – intensive another arm. building in design dosing in size sample for objection is X.X X the last for a ask of milligram which also

XX these decision so add we will make after XX the with go then and on these arms. two will which dose that, total. have randomizing we two a registrational patients each additional dose that patients in We’re forward then patients an of of XX And

Kelly Shi

again. That’s Congrats helpful.

Scott Smith

Kerry. Thanks,

Operator

ahead. Capital. coming from ROTH Tony please go Butler is question from Tony, next Our

Tony Butler

suggesting trial in to you am like without And group? where are at Thanks a especially previous last one. with include comments actually the made control that trial today cancer – to would you In you be be I XXX remember correct, fact, number – relevant for believe it’s other question be response and commercially could maybe or cell XX-XX, correctly, true. it or do registrationable would patients. put impressed Thank I very two, NSCLC that’s the in you think combo within a lung XXX I that, PD-X, it, a today words, least it is and monotherapy data, saying XXXX? do quarter, a and and you. non-small you’d Are continue better that’s And Could that, patients? enroll to those I XX% part much. way rate those would X, it that

Scott Smith

very you Thank Yes. the much question. for

PD-X in we arms monotherapy a the little arm great right that that that are monotherapy. rates assess sign ORR significant to But seeing. design precedents bit want with It’s part to be a of to multi-refractory to path reserve determine to lung contingent a the we here am some this I thrilled subject just failure, time more I able is So, think discussion this whether are data two single-arm able the for population in be forward. FDA. at point a able the mono efficacy in response study. obviously more to properly. We collect there and move to with are is and combo we I seeing we the do believe the not to

the PD-X from monotherapy we QX XX% As there. disclosure, in arm, rate response just the we failure population have QX maintained you non-squamous XX% the look into if at gone

we and very, before review internal this and PD-X be So, some our between of risk of to rate ORR benefit and trending course, agency that and large, quite thoughts that of population above again, Based strong could It’s study AXL-positive viable. failure started, on that data. XX% XX% non-small would commercially note multi-refractory discussions very the pending be a is and group in the registrational, the AXL-positive We – refractory the cell lung population. those thought patients of things. XX% XX% important believe,

being viable think XX% large to for commercially so us. And above I to those response population, be get rates this in highly able will

Tony Butler

I time? I have view you don’t subsequent Thanks. but waterfall over may follow-up. Have time. a about you patients or do at have this appreciate from have responses where would that. ask plot, responses you scans least Obviously, over a deepen one

Scott Smith

for think in patients generally, to has the over responses I deepen their past pattern time.

about, of example, Phase we to complete partial in we have to Philippe, over color scan. first response that that? talked think do patients have for you Most response do I and scan X complete put the seen and Phase want the more a second response that on patient was the a on on continue deepen X response time. any

Philippe Martin

question, their No, Scott. answered the generally patients I think time. see you We have depending response over

starting I in Phase here think that’s what are to we we have seen in Phase X. what X and see certainly

Tony Butler

you. Philippe, and thank Scott

Scott Smith

Tony. Thanks

Operator

from from Wainwright. Arthur, question go Arthur please ahead. He a H.C. have We

Arthur He

on activity to Hi. data Good XXXX. Congrats for strong the afternoon everyone. the confirm the

regarding wonder monotherapy patients, Just trial, how the XX competition many rent lung just to the the the there? cancer of what I non-small the cell received net patients compared

Scott Smith

XX the distribution to combo two XX, mono of the question for is from mono go as combo you and the I that believe yes. relatively believe Thank between we groups, I and Arthur. even

So, and we will start see come up to more catch in. some patients combination

I more fully like think in, benefits also combinations only come evaluate have of risks But to a the question. data a see for factor the are combination combination we do response and not we see higher because we there, more would about patients being the but – complete which to we early here. some little should it’s maybe excited arm. Thanks

Arthur He

status an the regarding sites you give BAXXXX could many active us the program, And makes non-small sense. cell cancer That the Got enrollment, currently, it. regarding U.S.? and for how lung in update the

Scott Smith

So, program months ahead of four and way. continues is which number is let the and to program, the active I will be say a to the minute probably it, sites the three more months to exactly then the answer I later have we Philippe that with to started are U.S. in with AXL lung behind I where the But AXL don’t that me. will in

We have the I enrollment. want to at look multiple are us group of expect good patients by scans. through year, to reasonable would year-end. a we we to to get time This for a seeing take get

QX execution to likely XXXX probably I I months that looking set study But – about patients we in that to when like the three right data four or understand quarter and through the with timing be event we now, months actual are during have the that’s So to really is to that. I QX that scans behind QX we XXXX, say, think think And multiple the whether data. talk of at enough going that able think where were I well, call.

exact Philippe, So, sites. any number on thoughts the of

Philippe Martin

Yes.

We initiated. XX have sites approximately

sites Some Taiwan, are of Hong in and of Kong are about majority, XX the the vast them U.S. in but these

of approval to We are initiating in as process sites do also the number across that the in see a of Europe countries. we

to currently So, will but continue XX, grow. it

Arthur He

I could, just I If last question. Thanks. raise one

For the AXL drive? BAXXXX, activity with any the have expression you between correlation clinical for the guys the see

Scott Smith

Yes.

over These relatively And you like heavy needle. about for high think definitely are So, we the the i.e., talking of really the XXXX sarcoma And expression, we XX% levels saw of sarcoma relationship. in Phase AXL tumor burdens. to a see early it program have seems X. if AXL-ADC, need patients relationship I the move we

is or response expression middle we large Now, either it actual between express not a for at relationship see in small lot there all very at a degree, and Patients very a none sarcoma, But ground at degree or bimodal. there. very sarcoma. it’s of

the and a different. looks little probably make For me long, statement to a too on expression response. early relationship definitive for bit It’s between it

levels. We at expression in non-small of are lower lung and seeing high levels cell responders at AXL

So, gather like and take scans, to at response, some patient look XX patients but more seven through next actual a like to get would saw I subset six, I determinations doesn’t data, would sarcoma. multiple this different relative and look with full it we special than that to some make

Arthur He

progress on talk you Got Scott it. to and and Thanks congrats again the soon.

Scott Smith

Thank you much. very

Operator

Reni comes go from question Reni, next Securities. Our Instructions] [Operator ahead. please Benjamin from JMP

Reni Benjamin

guess of that patients give just able breakdown Can responses many for any have you further don’t scans you me define been remind the on just if And you like are from far. progress. it us the start I just us Congrats drug, have And might help several you Thanks. the that of to to you guys can are confirmed. thanks the off with I exclusion maybe criteria? Can finally, taking Good that on as and that? you non-evaluable like the so to-date question. non-responders how learnings have ascertain afternoon now, also been would seems maybe just there tell all an the yet. that have to

Scott Smith

last your we of know know a question learnings I yet more from don’t answer than pretreated lines they defined others. I prior So, the heavily more really from that of and first, failed therapy have to were non-responders. non-responders, couple

So, to which continues. that trend seems be a

the five of yet. confirmation, In come and four two more of patients the three second so had recently, have scan a have response, are and terms have in confirmed, responded, not one complete of partial responses they those

if they those. trend and second improve those has do come scans response. continue early The patients in, for remain, will once we respond So, to been that confirm

but just need two then be question asked, our I confirmed, because that I down. scan. write hope yet that confirmed been sorry, is haven’t haven’t they second am they you And time So, first to will had the those

Reni Benjamin

okay. That’s

invest at Sorry, I probably all once. three shouldn’t

Scott Smith

No.

Just forget.

Reni Benjamin

there still efficacy. patients, there I Just math on couldn’t year-old, the the XX non-evaluable were just, drug? XX are they do

evaluable, are might XX be think there I further a not breakdown. but

Scott Smith

large had are are down But on not Philippe, of majority those? the that majority are there Yes. drug, majority I want drug, dosed believe had into a couple affiliate is the patients you – believe. source. again, I of scans the yet have the those do two on number exact address that not scans of have The or break can just those

Philippe Martin

Yes.

same efficacy XX that were but that So, patients time at XX cutoff XX-patient annual We at mentioned drew consent had the patients the treated, being we haven’t the evaluable, are not yet. we scan. currently the we ongoing, we two their And of last patients difference early, call. are had is the data first reached patients that six had that quarterly dosed which two

breakdown So, patients. for the XX that’s the

Reni Benjamin

one Thanks just Terrific. Philippe. And for us. one final

checkpoint at define the you and you of different or point – combination? they the rates, a can any kind or do As cut response can help evaluate would what you what I evaluate be data combo maybe different

Scott Smith

Yes.

it’s answer exact I think question numbers. hard with for that me to

general drug emerging to better to than seeing from want what is you is something want you think see are the that in from I you see that, what in monotherapy.

You than more want going benefit are are subset to likely benefit from a there monotherapy. would emerging to risk in combo who better see or a they is combination for is there of sense no patients unless

really to to more at are [indiscernible] think is additive why there what significant like I therapy maybe seeing above we toxicity. in an monotherapy and and numbers, would what’s or see combination you in seeing going more efficacy see that’s are we not because are some in excited to get what combination patients on we of

I are think overall looking we that’s what for.

So, there, the response. we have we four arm complete combo the given any means. have do on a up patients not by Of

study that it We have I toxicity because related two patients who to the were was before on of believe nivolumab. was

patients there. X, to let’s the a a and certainly X, responding. have you encouraging as numbers, is here patients But is Those up which we still to there. all us to response when to very patients side monotherapy is the a small get work five do in and drug responded another combination final we can really are determination XX that remain more be the monotherapy. got more look make little what’s heartening in And in arm in to And patients in take active in well. study, see few four sort very, patients see of X, So, what that seems

Reni Benjamin

taking the much very and Thanks questions Prefect. congrats. for

Scott Smith

you. Thank

Operator

conference Scott for of would And closing over back the session. turn BioAtla to now this concludes remarks. question-and-answer our Smith, I any like President to

Scott Smith

Yes.

attention. very Just for thank you time your and all much

really results going are got enough least remediated we for The assessment. pace a thought started the we COVID-XX that, But benefit at we for I look are not The well. whole to data, from can through We a tough this of proud that we as that’s the very year development at think More patients than we XXXX perspective. the very of QX, and but year that only have Omicron, to the emerging have progress we here, off from well. risk that when is safety year. critical make made, efficacy anything, QX clinical this going – take development

really You seem the playing to clinic. see the out CAB technology in

line sort on-target baggage side which effect really is healthy produce off-tumor a well. to very also that or in get of exist eliminate you of eliminate some see toxicity using eliminate antigens, promising, with very and profile, You greatly with idea much that of are on technology as to the which cancer but tissue

in CAB technology are forward the move seeing the and So, we clinic.

execution has been well. The

study CTLA-X, from this two data that And Phase end the of coming and X/X excited CAB-EpCAM forward also, We be coming, study bringing bispecific as CAB-CDX excited should UPS moving what part study, year two dosing be about moving start we next registrational data in were a into lung the the there. could of are are by well and a antimitotic really XXXX next about potential into we year. really of year

excited about candidates just in cancer the we And are XXXX, the we portfolio which going about, So, clinic and forward. not we XX should have but approximately next whole are year really very indications. excited, four

time for your So, thank attention. much very and you all

Operator

now presentation. has today’s conference The attending you concluded. Thank for

now may disconnect. You

BioAtla (BCAB) 3 Nov 222022 Q3 Earnings call transcript