EQRX - Earnings call transcript Q4 2021

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Operator

Good morning and welcome to EQRx Fourth Quarter and Full Year 2021 Financial Results Conference Call. At this time all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Please be advised that this conference call is being recorded. I want to turn the call over to Neil Swami, Head of Investor Relations.

Neil Swami

operator. you, Thank everyone. morning, And good corporate Earlier today, of financial providing overview as press ended issued fourth quarter a recent well our as XXXX XX, release and December an XXXX, we progress. full results year A of accompany on call to slide this at website this investors.eqx.com. copy Relations are section release of Investor a deck and the our available

Officer; Joining Physician Officer; Jami Executive President and me on Chief Chief the Hedrick, call Chief this and Financial morning Executive. Eric are Melanie Nallicheri, Dr. Rubin,

would like the on a including I include risks, and remind everyone we the with filings make Before from this results of started, we those expressed may as set information Slide deck or to that those some the events and future the could with statements implied most on as outlined of other get Actual SEC uncertainties, result forward-looking by recent statements factors, slide that we differ in that X. make statements presented any our materially forth call other and filings and various SEC. forward-looking in

any cautioned such reliance now to the will statements. place to to and undue any are You statements I on these update over call turn EQRx disclaims not Melanie. forward-looking obligation

Melanie Nallicheri

joining morning, And Good Neil. conference you, Thank call. our thank us you everyone. first for for investor quarterly

along the For those now slide X. you of on with following deck, I Slide am

medicines aware, Club as medicines selection affordable create with ensure are population advancing development EQRx mission at quality, proud approximately building lives our we objectives, of little Phase we a where access branded systems of in platform launched for programs, cover over what our health announcing around medicines EQRx, advisory medicines. true met establishing and promising catalog are team access world new EQRx, to payer Abernethy data lower drive a we and Global we, with partners, of ago mission large including great, we Directors, health team's leaders XXXX X renowned relationships our to business Amy including Buyers broad mission our improve call payers bold performance to Giusti, our a and million to oncology of share prices. with for at system I'm high at $XXX healthcare radically years what that and the innovative At a innovative and key transitioning lead Board call and you adoption a health As our all, many management our board Kathy two with EQRx, directors, and company. in public world, expanding of into Dr. who innovative,

points, of to we call, which As beyond would are take look are the X. you to three there away major from we and Slide remainder today's XXXX on like

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cover and Our million providers by of understanding the throughout of approximately that with the payers or goal end MoUs memoranda XXXX. XXX lives remains

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level will that to to medicines, value turn creating detail. will outlined, drive believe deliver I access our Eric? to I to key enable sugemalimab progress them we We aumolertinib focus Eric, enable call will these meaningful savings I start areas, for us in our adoption shareholders. across strong and three XXXX. where our execution will partners model, in introduction, and while over the innovative population on organization delivering the maintain greater and now With discuss proof of who in

Eric Hedrick

Thank you, Melanie.

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lymphoma received T-Cell Additionally, subtype has for the significant medical extranodal need. FDA designation NK unmet a breakthrough non-hodgkin sugemalimab from lymphoma, with

We for the And the ENKTL XXXX. to in expect Melanie? U.S. will submission that, call with in turn back Melanie. I

Melanie Nallicheri

Thanks, Eric.

clinical clinical spend of a currently in which XX% than studied stage address PD-X XX These X specialty have Slide in believe for diseases. X known programs a ongoing EQXXX as billion to portfolio We in drug nofazinlimab, cancer. Turning other solid in around oncology are Lerociclib, being rheumatoid and also X cancer we and for the breast CDKX/X X negative studies tumors the being multiregional HERX breast for X for total inflammatory more include for of a arthritis Phase our arthritis. currently clinic. $XXX will studied five programs, in selective immune a spondylitis in trial dermatitis, ankylosing liver a multiple Phase multiregional positive multiregional study diseases EQXXX, rheumatoid immune-inflammatory clinical Phase Phase receptor in for JAK-X trial studied inhibitor hormone in metastatic inhibitor in highly China, atopic in and a cancer.

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we to grow against class value a It disease and selectively a Slide equal our Club. a to we will are delivers class, clear patent to effort of action Global the and runway demonstrate and Club. we there our of the we strict have addresses pipeline direct convinced of potential opportunity aim mechanisms if set the progress of XXXX Buyers members portfolio, where meaningful maintain to of with into It to and patent existing clinical burden patients takes that it and advance to is are the assembling society areas known will we in the Global have highlights add/or as superior we at capture have program high-cost the therefore Now X and share the In made we protected causal X, our continue Slide on or criteria. runway data Buyers sufficient market. a to in programs cash evolve evaluate an significant therapies.

form health or more and U.S. We England, of a have provides to MOU already health National with into number including payers insurance leading people some of several Blue around world XXX that than CVS Understanding systems the Memoranda entered of plans based Geisinger health Health Health, and the plants. million in coverage Service including Shield

prices quality to the aim around mentioned, remains medicines among I to provide systems for As patented the radically drugs. and strong health solution market-based lower demand U.S. payers high at rising cost in and of address We the a world.

remains or coverage health provide approximately of XXXX. end with systems XXX goal MOU Our that payers by to million the and have partnerships lives to

Middle Latif a new regulatory in assembling the the throughout Turkey on these pre-commercial treatments. We XXXX, to to of Abdul brings across and into ALJ if to have started look to expertise approved turn in We East, the with of to over people to our entered Club. and access progress now Jameel Health commercial convert contracts with and MOU sugemalimab I progress affordable to make extensive our call Health our will expect aumolertinib forward these Africa continue cancer the millions to potentially Global rest year. you Jami. existing keeping geographies updated provide Buyers regions. In commercialize collaboration into agreement and we strategic

Jami Rubin

XX-K year in cash that this now strong on with We be in XXXX. our More position. financial we today. issue take ended approach file am that summary such cash included and to I us We puts disciplined as filing, press which can of our have XXXX Melanie. A in Thanks fourth to use XXXX in equivalent, morning. has will detail Slide of a quarter the which we full very XX. our is Melanie into with found we results billion our and plan a mentioned capital later and respect cash $X.X manage runway cash release

financial will our less, to We cash commercial expect and change and of previously portfolio million from our year, shape million through to milestones. us to million us this $XXX allow development that to $XXX get enable expenses. be $XXX in our and our range thoughtfully For position grow we anticipate announced outlays operating a significant or

Moving are summarize takeaways multiple we would key today's XX, to XXXX. reiterate and the Slide to expecting I milestones like in

Buyers As expect today, our studies you during include place, MOUs million outside U.S. in lives. to our these call growing the the the approximately have sugemalimab, Club heard XXX we and initiation aumolertinib regulatory Global first of our comparative and payers covering submissions with for where first

on regulatory available. also our when will an in We U.S. approach the and timelines update provide

over back me turn call the Let Melanie. to now

Melanie Nallicheri

Thanks of to to EQRx passionate all call in our of would take the point back employees Jami. your getting In support. work partners Operator? can your year I so for the us ahead all thank We also and can preparing and ahead. like and for shareholders at this operator hard the go would for to like closing, now questions. the I thank we over to turn us

Operator

first Instructions] with Jefferies. [Operator Our Akash from you. Thank Tewarii question comes

line Your open. is

Akash Tewarii

Hey guys.

may may. few I if a I ask So,

color both of unmet what's what's to your theme and in market assume, your that the cost to on order envisioning? a in adcom $XXX submissions? studies product. for interactions file? of will could how length with the regulatory just is cost major head-to-head we been you approval stepping regulatory space. And the of one give back, of assets at those previously the Europe? on Should a Additionally, team's Can some per need design traditional with you've if get the team you development, us in so, and then in given less crowd million And kind drug recent for EQRx's maybe Lilly or on drug So, a more confident a to FDA why substantially million studies suge's lack your maybe on talked run than $XXX FDA require aumo drugs about model

the still FDA's some get on pushback and much. Chinese be so the routes cost stage could what than the recent EQRx by data traditional other development? a Given on in-licensing of use Thanks assets, market cost drug the would later of at lower which

Melanie Nallicheri

first to your I'll questions. Akash. Eric two the you, answer ask Thank of

Eric Hedrick

Okay. Yes, for questions. Akash thanks the

discussion, necessity directly FDA studies. the your head-to-head question the comparative or around to Regarding do

stated, we've do of studies. As our it's to types plan these

maybe our is this and to FDA those than the the part I new on therapeutic though, going are as to if we're classes model in other think, to medicines drugs the of be different bit developing that genesis of a ensure little just quite, an it's currently. plan classes better established responding than or drugs good us

So, think studies. adoption a we've that's of I comparative spoken for model as always our that's intent to studies applying about. part well. And been certainly these for the In directly purpose, regulatory do what

trials. Now asked life, you these cost design, about of

to And when second difficult until well, it's give think the that, we've answers of your which is question precise those of around outside specific the as I'll FDA you we'll updates. that's we've I provide accomplished our those U.S. engaged certainly And intent answer and design some our on confidence with studies. the around

based are policy that discussions conversations expressed the think understand regulators to proceeding. outside don't by confidence reflect those with of is opinions outside or the had the on FDA our We've and been important regulators continuing U.S. decisions U.S. how really I the necessarily it's have for opinions

Melanie Nallicheri

an of regards to are molecule, Akash, EQRx course million are exact studying exactly what the million. the range third on and are in Eric. average, we to cost drug, slight $XXX where a we we question is your depending $XXX assuming general indication you, the are assuming a on and design with but and of Thank of that develop there to variations on

assumed. So, you range or a lower little the than have that bit provided

important we believe is we that, action. as in understanding a The we I here of have are earlier, good the said focusing mechanism thing where areas of

We so efficient on leveraging modern staying we and very focused are to path much have development and a envelope. really our development, focused within this organization,

for have for and described been give into Now, of Eric, part a for you the just this baked coming And sense what's can years. always expenses the to already approach. studies year our Jami assumed that, assumptions our be

Jami Rubin

for cost just thanks I had we announced incorporated and Yes. comparative that that into suge the add, would trials the and Akash, trials, of two Melanie, we in those back aumo one our additional January guidance. already

our be what generating already So, incorporates with today, cost we $XXX cash comparative guidance will believe that respect trials. to these in the additional million to outflow

Akash Tewarii

just I may If one follow-up helpful. That's on question.

just Lilly long? it flippant. said that which eight of them Would of years, be be say were any it might Given being two theoretical kind take I would kind study to they years fair think

Eric Hedrick

Yes.

this Eric, thanks. is Sorry, guys,

So, the FDA FDA think discussion same assure that's didn't new If the therapeutic in established important concern has I clinical the have type are would address fray going of to the I be get class, that sacrificed, the in entering a think simple Unfortunately, we we become think what discussion. ODAC of need design. the if to again, the not that patient type in discussion sort trial everyone non-inferiority a of an are established have we features that a question. physicians is that to in But it's we of class to about how issues It's design the And been matter medicine huge cash discussion same, provide that's have. that type do the of the with discussion. have design outcomes providers? right? concerns. I of What that to a context, out assurance, sort these not to that will of trial think of that and the but in And have. study we'll a study you our regulators, default regulators I that to only think

Melanie Nallicheri

of our of certain the that of been to terms need to in Perhaps these apply to a to they into U.S. have results practice, just course, fit understanding then generated can how medical already one we this If thing to studies want envelope add Akash. time. add,

Second, I would Dr. say, and know I

commented previously has this. on Forrester

or patients, a resource study achieves we patients, so eight that about that year-long have, I thoughtful using most how valuable be that to "resource" more conducting really as thousand that think need with also and that goal. we're don't We an the

So, be that going of lower we're hoping course of end to the at we're that spectrum.

Operator

you. Thank

Goldman question comes Sachs. Kashish with next from Bhutani Our

Your open. line is

Kashish Bhutani

morning. And vocabulary lower A the you of a greater. test the drugs the understanding offering about to some really question on of plans dynamic costs Good invoke Thank fundamental you. model talk business your this may and own pressure about how just your here? and cost is probably of the more radically and prices. what are just becoming demands seeing drugs And rising we're that developing developing prostatic or in drugs are burdensome of cost

So, us can that to how model point thinking about to you're specific that finally follow. the fundamental to then I've more offering you a drugs you're question for get of developments, envisioning? that when frame expense these these of you delivery journey the of – business And how will and impact all

Melanie Nallicheri

for question. Kashish, thank you Yes. the Hey,

So drug people in numbers know, other quote takes the want numbers the to burden ask talked numbers you the and you you about, first it to of that large, if of takes It I are course depending market. frame tough what's all, of are, $X that by use the a cost context but they the are or whether of $X often failure. numbers, billion bring just to billion, $X.X or who on cost billion, large

well sure to we and the that of one fundamental get-go. is choose our pieces key business the make So, in from model

the that really lovingly call people as team in hunters. the we know, And drug EQRx so, our proud we built that of here particular, you are we've at

success rates XX and more therefore molecule, when can chance the that not that – our XX% we have is we work of meaning needs new a of with XX% engineering because like? often don't we really partners is the a we important burden the range So, our prices or of believe a in greater success failures. plus important that to ultimately when cost license because what fundamentally then we believe than cost fundamentally assess That therefore the these that who to programs in new our we molecule look are drug means to people need

cetera. a ago, to programs mentioned if as I Secondarily, we we payments, are milestone including in have looking moment and develop et a pay unlicensed

We into works number the to and that multi-billion-dollar years, that means of launching share looking over that we markets, are million in that's enough that at be and envelope have of if assumption say even we important patent class. a in why $XXX million, runway reasonable $XXX that it's a so are to we left of and

dollars We to several billion have the revenue. of make potential

if potential, you that take the business the that's relative that's cost works attractive, So, how an profile how go revenue view. is about, point to incredibly that return from we of economic and model

Jami Rubin

And how think add our about you think Kashish, just our how in terms of building I would and you model about model.

not big lot that conventional going ground. on sales build expect structure conceivably We because to other but a we as should to planning rates, lower component we a the conceivably much our failure force. We're have be our to Melanie the expenses R&D of have said, should that lower feet cost not is are

on what much lead which drive, pull streamlined structure. payer is We to novel, through cost-efficient are adoption drugs a should partners a more our model, we call – relying a that our of and to

legacy structure and cost as are operating companies. have time a by that expect we higher in margins that get we are we to cap steady the XX% to not or again, farm So state, burdened over other will large range we comparable

Kashish Bhutani

maybe more – that scrutinize something you. addressing Got unmet Thank takeaways if is And that specific foundational and resonate you continues from some it. really to question. Post needs. ODAC, the then meeting, a

to about of the be of appears to able aiming be meet critical specific for how design quite your III in studying patients so, address the in be pursuit disease clinical Stage sugemalimab, a Can that question will to And and terms you of study that on objective? unmet needs.

Eric Hedrick

is this Thanks Kashish, question. Eric. for Yes. the

importance a designed, its is III this endpoint. Stage the the was study already disease that Phase patients conducted study. met think of the has X maintenance study, that Is primary I

least at to after stable have One everything two give ways disease to have receiving There's patients chemoradiotherapy. So, chemoradiotherapy. give together. concurrently to is

is other sequentially. The

III the maintenance the only get setting maintenance the the now You right give patients in remember Stage therapy that other. It's U.S. important one chemoradiotherapy. approved concurrent when to after is in

you If about that practice get the at U.S. in sequential don't patients, what they of mode, XX% actually get happens look mode.

unmet that benefit study, the terms I by is at important the doesn't that's therapy. so, with so to you the both approved what's of And PFS population a the study. to if currently significant certainly the need in that of is meeting an populations, need design think of and And consider look results the therapies, availability of defined if the an unmet have approved applies

Kashish Bhutani

much. so you Thank Great.

Eric Hedrick

Sure.

Operator

question comes next with Our from [indiscernible] Morgan. JP

Your line is open.

Unidentified Analyst

much. so Thanks Great.

the studies? portion you a around just these of front alone hands I full Or Stage the Maybe Just for might guess agents a cleaner least just out let's a this back do at lung I III pathway set would get larger of required don't number you and difficulty and enroll most were Stage if model going there. the the study, guess, to there my you say thoughts trying data question given studies questions the FDA for to III clarity your from IV I'm my have year, require kind ex-U.S.? really sense? as predominantly FDA, Then take – around, approved was that of requirements are to to Stage versus to significant does kind on the U.S.-centric or of able U.S. answer the studies that's these just the of up the coming the that to dynamic, think later a pursue, label broad here. head-to-head you'll there, approval I'll be be all complete, envisioning a ask have second planned a you you make time clarity population that to, but enrolling

have one after I I'll maybe those two, financial just stop at one So that?

Melanie Nallicheri

thank will this. team Chris and I Eric, Eric? tag Yes, you.

Eric Hedrick

Yes.

the So, tag team I part on think III questions. Stage the

argue that inclusive our or that at it's indications the discussions study study premature is specific – So, use you that of if III think population, in population we're done interested our a FDA Stage other inclusive in that, right. is population an an reflecting inclusive sub-population is in within I definition. and unmet the as might what fit a Stage could III represents this and there an But study regulators point, need program, representative – these of a Certainly, labeling, study with that really population medicines about whole right. or

believe So, are I studies answer early designed conducted, too Stage and almost your and X it's think III question. including established these Stage that III IV Stage studies these met have We their at to well this that Phase and efficacy. well endpoint point, or primary safety thus

primary with to going But question are support of on. brought other your those effective what discussion bit don't I the with we other of subpopulation. in little approvals, more there clarification the the think a If that point to approval in need to need And approval of conditions, medicines, specifically, we're data be and the regulators answer is right? that's that an intent safe forth so, only

of our entirety required program safety might discuss we I be lung efficacy of data will think to and that that. the of in the of support terms establishment that whatever

Melanie Nallicheri

spend you in and Yes. the the know, And larger to of larger of those can require? drug we the medicines. the the class, have adoption Chris, potential with partners what the current impact the when the support model our create regards As does question

know the one about you breadth reasons in of Having have why said also it to was that's PDX, XX% as that's of PDLX the important So us for that, market. lung cancer. this

the same these add of we if then stages, we we're allow value model. lot in medicines, about how the for at for to create to it, onto we to savings patients that's broader to is up even cancer development, them lastly, to a get are to not them these partners medicines for that going bringing have there just think we weren't our and So platform And that bringing approval other aumolertinib, adds all each access that to generate the time as and partners. we that but our of

Unidentified Analyst

Okay, And, ahead. go just follow-up, great. just to and – okay my

Eric Hedrick

If Chris. get your I question going to you… Sorry, was second to okay, it's unless

Unidentified Analyst

yes. Perfect

Eric Hedrick

thinking you of about world. U.S.-led as of to studies. the head-to-head the and these the versus ability Yes, those these U.S. and studies in asked We're other accrue designing parts

of I contribute studies. world it's think could that possible to parts other the these

you a our these in adopted again, address ability with be to financial if I can medicines studies make in the do a outcomes. no in studies point In minimum the U.S. toxicity, at component show just are that can And intended really of that are right, patient we that wanted possibly, outcomes. accrue improve clinical terms sacrifice certain can of confident these that. to the we you to And

important And are and in the think might There's in they one be we're of practice. remember. in to to of think investigators addressing and these way But to trying that’s on clinical therefore, accruable. studies. so, in issues real not think are including toxicity in issues sort I way I of participating address, think And studies these of a interested financial these scientific that that types blinders issues

Melanie Nallicheri

Chris, data see. is kind as you of that And rarely the we know, this

they or lot And that create to are so, want currently used we and excited of evidence people to or out that that there really go product another we've products. from a that heard reference

there Eric additional a many are but using also of And gives instead they stakeholders, mentioned, we be our so, just that our today. both them to of many different partners lot medicine that what confidence industry, in the that of EQRx might use believe clinicians an all

Unidentified Analyst

about in so two portfolio then milestones to, other the Thanks burn. update the And January clarification we the largely these or I today? pre-commercial spend a well guess maybe versus cash guess, there is quick were I question on you guess, on reprioritizations Great. next tied assets just are lead I where as, and in think much. my as

Melanie Nallicheri

Yes.

Unidentified Analyst

tied your to Thanks. clinical be existing And there. in largely that could assets just in burn, additional the I licensing to it's portfolio the to also just guess, general, maybe or on envision, burn is or clarify a added portfolio? right is two-part cash cash it it So, just

Jami Rubin

Chris, sure, all questions. Yes, excellent

almost our of towards done we end first So the quarter, of all, are March. first we're with

really a So, good we have sense spend. for our

we activities Secondly, out with million for or we the really feel have less. comfortable $XXX mapped our and year

mentioned, that some launch reprioritization our potential think is for that portfolio of But of of some all part that about potentially and thinking. our items of And pushing part you course, as we of cetera. and are the all costs et out,

ton continue think in respect and spend our cash. with of a to a to the same I are portfolio. we fortunate important portfolio, we developments we're of going trying lot thoughtful some that time, that flexibility. that way is message we have are really the a sense see and our decisions difference today position to we again, be of mean, And build have building control Buyers we Global assets have business very accelerating Club we spend to we to have and is lead the that. our At intend portfolio disciplined most out to the our or around And really that in our understand makes will do that. and might be with upgrading we We And what asset our control. reprioritizing is that that will we is our we some early-stage that But essentially we an do make the about portfolio?

Melanie Nallicheri

really let Chris, portfolio have and clear we is assets, on large our just but selective. additional in to on We was of be really already the bringing in today. are me be spend majority a assumed development going

Club do believe can better we We're areas we where that going to and something equally believe And in that so Buyers molecule sort to that and the where choose can of we so, bring bring have be definition not about and that always potentially going sense where the selective. Global as it's in we it that in high winning to the use. a of or really makes spend, you good we We're pick numbers.

Unidentified Analyst

much. so Thanks Great.

Operator

question next Nephron Research. comes Percher from with Eric Our

open. Your line is

Eric Percher

A long-term MoUs the the of questions Buyers into to looking do on made Buyers are proof the it targeting the on alignment the on for on interest portfolio partnerships, comment lives. launch, good side million is Thank for it commercial it of you. know that Club, down or your that but you and having at helps is payers what visibility the in come Buyers think is a and obviously couple model. does in drive on launch Club, the you point Club XXX no slowdown making pricing you expansion of promise? Melanie, I you approval relevance key more in ultimately

Melanie Nallicheri

of Yes, number things. Eric, It's thank you. a

we can have. course of the all, it is the or of commercial that can impact first impact have that So we economic

from sort savings pure and trying to us, of for are control, those Typically, create are So, broader know, and as view, access. off the forces a much of two incentives lower essentially not can spend we radically our prices to we push is with against industry. our point that, you okay, to typical well aligning them offering we partners allowing By take say, than other. rather breaks and now each

sides of from greater through point and are both that from benefiting greater patient importantly, from most the So, and we pull adoption. view, ultimately, is

that enabling core part have And a created, more working is key we're team. is they role of really model. these model. partners and a than Having play the that's our that that in So it pieces what understood said as our partnerships in we've a that

put development lot access EHR that clear focused more in of partners to that's described promotion to or data on us more, and into development up Jami a data that the do a need how today helping we typical provide drugs. sales For or us moment are instance, be as pull as program, to can directly of use through, model. to as they we lot us just a with spend the that big data the and claims to a biopharma allows when set not those makes our ago It in us is sort much

also so, partners that the payer in of be And ability it's health control more system many partners like. to these and

Eric Percher

more Club can lives more or the provide having any and coverage? share? ultimately on of Jami, model, target – for be commentary pull provides with your expect comment around share a simply question alignment And with you maybe the may And you market following-up relative expectations that links and value Buyers this to that the on penetration this pull do the

Melanie Nallicheri

absolutely. to uptake the people need the model, push believe a works essentially this going about push They with have as of focused you get through. is way they way win incentive follows, pull is physicians. where cost I there. And of And much we when unit the and Yes, you unit partner way lots think And as right it, essentially it we an then because have scattered of about of of who sort to they a will. high a on is lots it's that have, every you motivated a cost. replacing This by works proportion if is truly of you this lower more

to expect with. get we partners that a therefore that those true from than partnerships we're higher share going So, have more market we lot adoption

or medicines the buy available to share will to our anybody is we course, market But they them. Of higher. to the relatively in are once be use pull wants going be who approved that through believe

having going That's of that's OECD people you world. And so, call a are it's that some target in systems the billion market. conversations. solution where know about mechanistically billion there addressable the we're about and are There are countries. X.X for health are assume how is initial, that's we that, who where and our put then it around X.X That market, numbers the in work, to if looking if those That's entire world. you our payers insured

Eric Percher

you other I a end of sounds, ex-U.S. targeting much significant. the opportunity saying And going the – XXX question relative the the year guess that is differential U.S. the you ex-U.S.? see on it to U.S. versus is models. be I or have you're lower we're of going view to of are million do for to what a And the beg get pricing

about how here? you do global the piece So think

Melanie Nallicheri

XXX the a price that second typically, And there to higher much, million U.S. so question, amount question the therefore, there to of larger answer the is there is first about see is where we connects insured of the are part but Yes, lives model be in as other revenues much your what of The U.S. not to proportionately in the a may In world our corridor, large. narrower. not increases. comes not be call differential the price, It's it much pricing where that the the want regions you relative from words, is large. if of may pricing other the In same as this importance U.S.

people our that's about because are of we reasons MoU, that's partnership the why XX NHS health one million so excited right so population And there.

close that's look Europe defined, million lives geographically XXX at you alone. to If in Europe

are large so, markets. very these And

going it don't we focusing they these on so, proportion forty-sixty, are different sixty-forty, are of equally us, for that think very be we attractive. What I is, But countries. exact OECD to And know yet. the the fifty-fifty, is parts

Eric Percher

you. Thank helpful. Very

Operator

from comes Scala Steve with question next Cowen. Our

is line open. Your

Steve Scala

congratulations And couple you. years. on over progress the all Thank that the have made three questions. I the last has company

filings first second First, you the half So away, lead question. only in you if the depends reiterated year, the that's the could the quarter filings two to but assets expected on? wondering with this quarter for of the half I'm second narrow the and a filing a what

one I engaged Second to post the question unclear the question it already [indiscernible] and FDA, last clear to had you've made been is continuing are conversations you Buyers has you didn't momentum not just programs? but with you is adcom. engage situation clear it. be the you. with in And what have whether and FDA sorts then of suggested lives you catch their reaction the apologies it's The members questions that And have to says Thank have us But since Club if adcom? lost of release because what past share Can continues. the that into two they been lead is with Global the U.S.? the asked any the And about forward? enrolling or further of

Melanie Nallicheri

your answer third we Eric, with Thank you. going And then and are going start to Steve I'm question.

Steve Scala

Okay.

Eric Hedrick

Yes. Thanks, Steve.

process we're on filings reason specific the filings clarifications preparing getting saying second and conditions. the the the of the half that in actually terms of we're is still In

where at we will. this we can, it point narrow the down. But we so, And at point further can't

about was FDA, ODAC. those discussions of don't continuation we discussions the terms of think Yes, the in Sorry, hopefully to and semi-satisfying. that the our really relative

say would of been in are we and meetings the that I hasn't that ODAC. for by a meetings sequence requests affected So,

sequence and FDA of by discussions will that in us, continue. and to the a So, we're more meetings our typical ODAC, we're going between the less reactive fairly

Melanie Nallicheri

to can third. came that to I asking then could Steve question, is do very trying new, imagine, And With sought Eric to still the question, for different we thought a that's going And agency It's the been what early ours, that in while a is clearly dialogue. thank the as the something company, especially clear the think are you was we by that the Actually, very about, the you very one more that to we that's third do we to our company we in and a speak it like agency dialogue yes, but want the add message alluding question. started because continuation regards thing. important. for quite seek second I a thing ODAC, dialogue to. to a And as to for stress of the had that has one to things, go answer young I'm that's ago. really portfolio out as which really

added have million. Buyers since our Club we We announced to actually Global $XXX

you know, one we've going partners’ the single we're said, to As every of debts. not announce

sintilimab, us think, differences understand to added and additional we this clear moves terms indications but were multiple Eric sugemalimab, are we for are in nature you indication. them sintilimab to status we terms It's to in today. equitable payers aumolertinib and after We that then we sugemalimab there Buyers covering company's achieved around be one, the the interpret we they really Global one access Number how we wanted The is to are as of health on expression to what big well, technical we particular, see adding, for give in say, already The survival mentioned, in the we've covers. both access. meeting. ODAC, hopefully clear. all. subtype agree of was we and And improve differences There covering, haven't with that the ODAC course and breadth million, the it so of breadth I But started Stage shared Lily's And the and have of of the that important I of pathologic We're you are them, company EQ and we systems discussion, going to Club. endpoint, have about added became are equal we sugemalimab between health the you in even with are to both of things it. when now alludes again, asked the million. as not that the at the sugemalimab to sort $XXX have want for is have second and then expecting going of importantly, day $XXX that And access, are XX, name, as February just why to agree And are well really the all. breadth clearly X overall mission the with built about that the that's it. with,

the something we diversity will something the near our So, hearts inclusivity we and dear piece that that's company it's built really on. around, something and that and entire deliver and to is

Steve Scala

Thank you.

Jami Rubin

Thanks.

Operator

concludes you. call. Thank participating. this questions you And time. at for no This conference further I'm showing today's Thank

disconnect. now may You

EQRx (EQRX) 23 Mar 222021 Q4 Earnings call transcript