Earnings call transcript Q3 2022

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Operator

Good morning and welcome to the EQRx Third Quarter 2022 Financial Results Conference Call. [Operator Instructions] Please be advised that this conference call is being recorded. I would now like to turn the call over to Neil Swami, Head of Investor Relations.

Neil Swami

Thank you, operator and good morning everyone. Earlier today, we issued a press release providing an overview of our third quarter 2022 financial results and our recent corporate progress. release the to our Investor investors.eqrx.com. this are this website of on available Relations copy and accompany presentation call at A section of

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

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

cautioned EQRx these any not undue You obligation place statements. on such any update disclaims reliance to are And statements. forward-looking to

I over to will Melanie. call turn now the

Melanie Nallicheri

and and taking share in years the we our robust coming quarter light join third time strategy stage regulatory to ahead. positioning and quarters our today as in of guidance, for our capital go-forward updates call pipeline, deployment about significant now you late and our the Thank

advanced position communications both most Slide on the the our FDA clarity the begin decisions have paths to have aumolertinib last written approval the over make for discussions We X, now for and with and To had around on several and agency’s weeks, programs. multiple feedback we to sugemalimab. possible medicines,

commercial U.S. study FDA This of a in and could understanding potentially the and combination the as as our expected trial aumolertinib of to into of initiated as incorporates compound support commercialization bring as X-arm and in EU path a future early U.S. advice have also for in FDA’s monotherapy for the we the provides following data the with patients approvals recently clear care, position XXXX standard Phase possibly to timeframe. aumolertinib, best-in-class first in XXXX, Positive design Xb use and UK revenue this chemotherapy the from our population. on approval. the U.S. potential potential For

hopeful comparison monotherapy would do but expect support interim of getting been in as aumolertinib possible, that thereby have as nearer-term filing to We filing, an two U.S. for XXXX. arms the the a aumolertinib before U.S. expeditiously patients not

U.S. for Stage a on its a commercially FDA’s second no interim applicability position trial non-small significant require overall inhibitors. For the survival study readouts This acceptable. is versus based with approved checkpoint diverse own, The evolution for requirement American study path the patients, cell viable chemotherapy of sugemalimab would be an percentage in on and would non-inferiority currently involves cancer with X no of the there lung

While we makes that in clear agree fundamental is in that best study indication the viable this a American do it feasibility cost the the of not such is patients, commercially interest U.S. time, not and this of

to benefit ENKTL tremendous approval and believe patients. is still the in would in U.S. do possible We bring

in is commercial And significant therapy breakthrough it are However, we Sugemalimab not ongoing agency. with designation this a obtained the has discussions opportunity. in indication.

overall that this aumolertinib Phase and the our its this including play based have lead data, U.S. feedback to in commercial X FDA expected the program assets, outside shift aumolertinib opportunity in to continue The on clear directed for the pricing in strategy adapt for Lerociclib role as both a robust to is pathway market-based We U.S. U.S. requires of commercial and and confidence by strong to and benefit a survival reality us

and the approved for the disruptive our Buyers’ not Club near-term they’re not as aulomeritinib having was to in products in we our XXXX, catalysts Global serve partners, timeframe, first U.S. the this for were ‘XX be model able original new U.S. goal, to planning of deliver U.S. sugemalimab Club, the role Buyers’ of supporters to partners what the our portion was Instead our For and a for of of together.

our additional We for will options continue to look bring to value partnerships. to

For this in for leaves the near-term. our investors, gap a revenue us

the Given required will to time market-based a Act, aumolertinib then now additional and aumolertinib pricing in to U.S., due it the on to current sense take potential more Lerociclib. make the bring given market effects Reduction pricing to Inflation

our efforts pricing to regulatory Lerociclib we it for our different to is in our While our maximizing and while programs this shareholders. and patients development resources two will bring on from believe original these focus for us more strategy aumolertinib intent, therapies economic shift allow and for to these value

the in Slide believe care are their characteristics of in see them positive X, future have you from lung in combinable programs, support backbone that will data combinations. Lerociclib. existing clinical They profiles potentially We and be and lead now both drugs cell respective toxicity aumolertinib standard underlying our them classes, As important other of thereby two cancer therapies. that making and non-small EGFR the separate advantageous may potentially what more

we combination strong hand, have the tolerability, potential best a continues and have inhibitor. favorable aumolertinib Given as believe we Phase CNS EGFR significant activity, its to in X in compelling on efficacy data

Lerociclib, favorable ability partners that the above anticipate engineering CDKX/X new to best-in-class the a candidate, differentiated tolerability, the drug collaboration XXX therapy. date clearly best-in-class combination to on beneficial data in has early has its for and Similar to backbone therapeutics therapies. the other partners continuously backbone our GX CDKX/X with potential over will are in-licensed to be drug potential molecules. due aumolertinib, generated our Lerociclib developing these in of a of We be for dose. to we from patients, some from our Carolina in potential North inhibitors inhibitor be In mentioned molecules our to stage number next-in-line also oncology Based portfolio,

sugemalimab with and aumolertinib Europe systems the earlier, access mentioned to to in conversations approved. broad both make continue these innovative to create UK As of and filings help and the in outside regulatory health towards therapies once payers and progress with we U.S., great our

review year. aumolertinib And is June a for currently filing MHRA. As authorization this submitted reminder, under by we marketing our the of in

file We EMA XXXX. in expect with to

to We’re first expected with sugemalimab of in anticipating submission in with the be by end accepted additional XXXX. an EMA year, this the our UK filing

of recognize maintaining position extend our the cash We will our are expenses and XXXX. significance tightening our that plan the runway with into

our with to in in we We update expect more $X.X QX. expenditures more year business and pipeline comprehensive provide this to end in billion cash plan on than a

now Eric? call I who more will the detail. Lerociclib to Eric in will our turn and over aumolertinib discuss

Eric Hedrick

regulatory Melanie’s comments in some respective on Lerociclib, these introduction and areas, upon agents paths both like I’d Melanie. novel detail drugs and best additional their therapies. treatment these expanding evolve aumolertinib areas to be Thanks, provide in for combination in potential her to combination as towards for development the the and of

non-small conducted first-line filing based study on by compelling me path metastatic these With clinical progress Hansoh. Outside regard our in the towards various in monotherapy territories lung the made approval. the the of let cancer in for to of world. current EMEA monotherapy advancing pivotal aumolertinib, gefitinib now approval territories The benefit a in U.S., is third the versus cell inhibitor, of demonstrated Phase aumolertinib outline EGFR-mutated, treatment generation partner considerable applications EGFR our around have we in X

XXXX. of in filing our anticipate Union filing currently under early UK in Our review. by the is the And acceptance European we

arms. combination the could of to believe noted, predicated study, final the that approval We it’s our become Xb initial Melanie evaluating apparent reference EQXXX-XXX in the which ongoing As U.S. be and and and on aumolertinib is both this in of study osimertinib compared support U.S. combination indications that results of chemotherapy Phase results could the monotherapy the aumolertinib

lung cell with possible mentioned, that combination we therapy. of being filing concerns in the thus advanced towards of monotherapy arms aumolertinib, Phase the evaluated no a MES It that monotherapy the just chemotherapy Phase important that likely I the interim an However, evolving combination the treatment part to Xb of U.S. believe based longer The patients address study support evolution. is X data. represents cancer is of will applicability note is EGFR-mutated which with in and comparison on non-small

this addressing the generation small specific antibodies, elucidation CXXXs, on novel parent activity inhibitors combinations molecule EGFR EGFR inhibitors generation EGFR potential. of of forward. this significant going met and has including aumolertinib mechanisms a with may treatment also In tolerability for of landscape and of development major disease metabolites resistance, EGFR to drug of EGFR EGFR main of third targeted third differentiated with we in-combination believe and fourth targeting inhibitors, generation wild-type by that place the with However, from all inhibitors, the agents resistance profile in the inhibitory the drivers lack have both the thus light, the safety and other based

in aumolertinib-based importance We protective Additionally, for is well trial as Phase as activity the potentially CNS in combination, definitive effect MES armamentarium EGFR combination with and combinations. be to paramount demonstrated lung protective cancer a effect pivotal non-small the evolves. to to the likely mutated effectiveness development the explore of aumolertinib cell strategy fully X of lends plan CNS

basis the ability the abemaciclib. tolerated from thus for encouraged XXX dose differentiated believe EQRx-sponsored accounts to dose or GI approved Lerociclib and ongoing of ER-positive X/X trial for the experienced dose in continuing continuously early of the need to second the continuously in confirm GX ribociclib breast dose results planned reductions the presented to without In trial be required the The and either appears Phase metastatic without toxicity, treatment to the by frequent is toxicity. palbociclib unplanned experience trials dose need without interruption CDKX/X sponsored are X dose to with CDKX/X by we that on and interruption which the ability tolerability differentiating due planned clinical Lerociclib with interruptions dose dose the or ranging Lerociclib, cancer to dose reductions limiting line previously BID Regarding first for absence neutropenia, multiregional We or with inhibitors due from inhibitor. in currently reduction. which from Phase likely the was Therapeutics, milligram relative other

further that of breast in is likely a to the evolve of advanced of the the number disease plan ER-positive future the of management in with novel emergence mindful Lerociclib development hormonal in the to this treatment of development. we forward, agents Going cancer,

which – we disease settings, such metastatic study endometrial as Additionally, with Lerociclib anticipate estrogen in will in estrogen dependent XXXX. other therapy cancer, anti-estrogen Phase other the plan plus Lerociclib begin of we in developing X on

In addition, these focused combination programs be treatment antibodies. and in to that focus PROTAC, diseases ER specific EGFR preclinical evolving continues selective our inhibitor by on are drug and potentially medicines on an complementary met landscape pipeline to with discovery PARPX

now will call over the for turn financial update. Jami? to I Jami

Jami Rubin

Eric. you, Thank

$X.X X, we issued that with included can results More quarter $XX for billion in cash, XXXX our filing. summary cash million Moving of will XXQ $XX and to third the versus the be release this in Slide We XXXX last ended operating year. press Total be in financial a investments. morning. period same were of our equivalents, found expenses third quarter short-term million details the

For this our operating continue up nine as portfolio of first year total year, the from to trials XX% ago. up expenses for R&D of advance and months million across were accounted a $XXX.X million $XXX the all clinical our stages operating development. our we ramp expenses quarter, of

was will million burn yearend year. nine this bring not than cash on activities of total decision $XXX total head-to-head our to sugemalimab billion. the to under pipeline, months trial the the be our our we million $XXX which Based well U.S. note, to cash including large expect pursue of the more $X.X burn trend, balance this support the to our for first our clinical for our cash and expected current quarter, Of year, in

the expenses U.S. and annual look necessitates timelines. to U.S. in As shift that we for assets appropriate our to our strategy adjustment is our pipeline two more XXXX, our a to for level new lead

our reduction or to us years, expect cash annual allow additional extend the the to to will hold with would plans, potentially in This our in through change over compared of licensing our burn assets several significant XXXX. be into from forecasts. product guidance our next acquisition our runway previous brought flat caveat XXXX previous that to We cash a efforts

had longer chemo plus Stage we sugemalimab the of in Specifically, we will U.S., million. to the non-small X planned, approximately principally avoidance key cancer will drivers study pursue lead no which the are including $XXX that large cell cost for lung head-to-head

activities U.S. plans we for several in for addition, postpone the years. In the commercial will next

a our early the most candidates on also R&D focusing differentiated we are investments drug will We provide promising that stage profile. believe

Importantly, allow we key extended to our cash us milestones in that and get clinical through expect runway the regulatory will U.S.

now turn to will call I the over Melanie. back

Melanie Nallicheri

Thank you, Jami.

These an excellent clinical time, because data licensed of indications. of our of kick-start immune cancer on and been able to were We clinical development period of in their innovative short Club. Slide Global some most In in to portfolio and inflammatory a will for we conclude X. assemble profiles validated assets have prevalent ability the therapies compelling Buyers’

course, as what preferable aumolertinib and UK have Of launches been have timing Buyers’ the it for the sugemalimab Club could same and our Europe. if U.S. in the in activated we’re would the along expecting

have have combination efficacy design to favorable potential. separate with aumolertinib with strong we therapies specific data drug as However, can respective their and candidates Lerociclib, and in their options classes in best and other due tolerability from themselves that two associated backbone

Our and team these strong us stage talented represents to we drugs our along adapt companies, intriguing leaders biotech one and patients. investors, U.S. opportunity the to cash and as today a developers, the drug early in position positions pipeline, puts commercial outlined path untapped bringing the to mid-stage development approach among go-forward our a investment and of industry a in compelling That, largest with early of strategy best

given high our just vision more come. a for have lot you what to company a level is look but in future, We the there like will

Operator

Instructions] Steve with of Scala line [Operator comes from the question first Our Cowen.

Your open. now line is

Steve Scala

does am EQRx not two the one a months, that doesn’t are that were I entirely? setbacks. And The I there pipeline very I am past entire built to disappointment, XX, been you given the drugs, been think that some in to justify product setbacks. XX, the which U.S. fact strategy, basic opinion, appreciate to had a the the sought I the XX have strategy lead embraced setback the expected. company to at to XX the point. degree strategy setbacks, biggest is question. I why the those the that this but overall have have first a inevitable has completely the why I two strategy. or abandoning you. been drugs sympathetic But had volume-focused in always clear really, But over since abandoning abandoning on Thank guess have limited my has not the in

question So, any be basic that helpful. thoughts on would

Melanie Nallicheri

Melanie. Good will is Yes. This both morning, your of take I Steve. questions.

want the so that are strategy be extended the I received and that abandoning timelines. clear its all, really to of and because we the to we feedback not in really be just just of First clear, entirety have

market-based only. in a pricing aumolertinib We for and are using Lerociclib U.S. approach the

strategy I any and our want maintain get made continue not have and We greater to are we the pricing health volume clear, exchange ability still outside assets be other in greater determination of and systems the progress in well around is lower prices to United what significantly U.S. to pursuing. our for the therefore States, for payers conversations we really and that the share

gap to to Steve, have where And years possible, of had that opinion we medicines on a many that as revenue counted as be which can now come goal, so, our for to Steve, an to make in. the revenue we a want we sure, to that patients but I are have realistic, we just also of we still number get achieve important is

additional a bit Now, want portfolio, with the regards to to providing detail. I little be of

Club. of have, first activate when the We because of saw you them know, of because as Buyer’s potential we set assets clinical data to strong Global a in-licensed ago in clinical of the couple their years the brought we

we efforts an targets new we notion of our pipeline designing what because that the up against on know, have Those selected call that you ramping creation As is in are we from then the based portfolio. molecules our have really much scratch Rx we talked in-licensed are just some assets know, assets, you earlier class portfolio they frankly, that is as about. significant. that stage of than of earlier timeline we believe best in can that quite And on very the and very be

at different We have of have partners with are and seven course, one pursuing. we that every partner, we least molecule,

that So, quickly. quite imagine large you can this becomes very

filings from XXXX. first by The portfolio expected are that

Steve Scala

you. Thank

Operator

Thank you.

with Jefferies. of Akash line the from comes question next Tewari Our

Your line is now open.

Unidentified Analyst

on Hi. is taking questions. for our Amy so Thanks for much This Akash.

following kind FQS your changes market-based reiterate have starting on, then that decisions clarify you cost of applicability? And go generalizability cash a and another to comes suit some major much. what with Thanks given discussions can in one guess Just are seen are confidence leading XXXX Hutchmed.eu, and average your with we can couple to pricing burn, how per can so one, you And like now? you I when cash to on program seemingly updated extension going then U.S. XXXX? And then it the of filings off, another over what are the you [ph] strategy? runway instances mean from

Melanie Nallicheri

asked what we and will that I now said way entirely possible. to X what like that, our many medicines IRA ourselves Having X fact, years, get could that to market go are about there questions back something aumolertinib we I is by in in pricing there. and the to up potential off on to your and from Melanie. you, market-based with do years in so first to especially That’s piece me I put when that a we going for what is maintain much look of that now just really talking pricing just the Thank all, one as important the EGFR is continued changes start sure is, what X morning. know make category we is we of for given First going pricing? want this as about of Amy, just let especially to now want from This Steve which think I think am patients years earlier, we remind question you the years, all inhibitors several timing to U.S. mean ultimately

competitive going sure we going to are the that That’s share. us the in ultimately so, to pricing take for that class And going are we major and be market-based to means goal. make

we way make going or reduction. so, our pricing sure And XX% a set doesn’t is is it mean such to achieve in are that XX% to What that. up

really to to to Eric having with have U.S. detail? to Eric, in Just really to be I ex-U.S. good over make want we by a clear, mean it outside provide will there and we been do that With progress regulators you it regards more that. moment encouraged the conversations filings, some we doesn’t continue and are hand of

Eric Hedrick

for Hi. efficacy are This Yes. multiple territories it data is drugs drugs. two that’s basis shown we X the filing definitively Eric. Sure. these would this and safety of on in of I put Phase way,

the so, with regulators have trials, Typically, far that safe effective and run of conditions when you thus been in And very well typical. are data with proceedings and outside drugs discuss established the U.S. the randomized regulators. you X been and file that you have Phase that’s the

is So, proceedings the view, I drugs fashion, say that right, my U.S., nothing that’s there have typical U.S. the in outside to the we in data gone U.S. unusual a and very our the in outside given in proceedings But that’s regulatory and have the contrast we have the would occurred

Melanie Nallicheri

this we aren’t the anticipated to EMA filings end MHRA were that back, first sugemalimab review has faster provide we with comes just to the designation both you fact that are for wanted when by us with with then jump a expecting in acceptance XXXX. you in of remember MHRA aware the sugemalimab. with sure which today quickly passport platform so given we innovation of And make year the A, what of Amy, to UK, is aumolertinib and wanted the and

Jami Rubin

your for happy that. our extended to you on thank Amy, runway. I cash question And answer am

out everything but with last, want many invest we cash XXXX to to balancing that that doing runway it companies needs to can most and lasts programs. the are also in to important our aren’t a First we is point there that I make make

in had there, discontinue to aumo million prioritize number that plus lero. script of to cost. we chemo our do get key being my Number spend following decision decision XXX factors what have how that So, ample potential two, mentioned our been one, in adjust remove will some frontline in the with would opportunity we lung. to have and I our suge

do the activities needs we the don’t We Global Club to in to the scale of also pre-commercial Buyer’s pipeline to fund fit U.S. the and need need nor

guidance We spend will specific next more provide year. our around early

refining our still need are We approval. budget and Board

Unidentified Analyst

so Great. Thank much. you

Operator

you. Thank

line Our next Chris of JPMorgan. with Schott comes the question from

now is open. line Your

Chris Schott

the Thank Great. just to shift for questions. you follow-up I much market-based trying to on was so pricing. the

future then out just earlier through we marketing appreciate we to development of here, assets, versus to So, of model have as I to I make strategy sales guess sense this but changed U.S. why build think might lower moving an assets? pivot kind the model guess to price would do had the does these originally potentially hybrid question much. to, and from Thanks for as going pricing we model following envisioned am I Club why look as forward? sense has lead I going understand kind what Steve just that what originally a market-based versus was so XXXX, standpoint the but about Global of you like Buyer’s that And you about I market-based kind guess the a this envisioned that in up have in model posed, make just had model? think trying EQRx completely for a

Melanie Nallicheri

Yes. Chris, morning. Melanie. is good This

then to me out add and start my Let remarks. can Jami

both described. and way on to we focus path more aumolertinib have outlined is for much previously have we development comprehensive these really the Lerociclib just than that So, what a in

end that over high lives. progress And million great the recall, and for partnerships the a the pretty possible, currently recall, you the you making to have as were the payers we a and as a systems as agreement agreements we lives are set to way, as what had cover model U.S. And our as by get XXX still were of on via you adding a trying pause do rightly that just is short to as we and aumolertinib patients reminder, we we this U.S. have quickly with. the trying mentioned to As and goal with here, of in health pull-through of number monotherapy year.

of goal, to first we monotherapy to line get standard move What so, as the possible. aumolertinib essentially quickly is where we And the a will that to original potentially care quickly bispecifics do combination believe include inhibitor, inhibitors, very combination to include generation the patients EGFR was MET just and have could MET be outlined where want very as is that the in that program the a Eric evolves, as chemotherapy, just in and with with that first out nicely what that laid we doesn’t it there. other

So, is where the not wanted care we are but this makes us as just that comprehensive do seeing and where believe also that the really be of to still similar really We that’s of the is about we to standard thinking different hand a That program, pricing. for talk the adjust very data more we development a Lerociclib endometrial fact of goes. have way a we going the cancer just outline really Again, go-to that we of reason, have Chris, unmet about strongly need. this not situation to and high it’s reason saying a in that why feel part clear. lower instance. means best-in-combination, about market-based we best-in-class, an area are volumes to are

Jami Rubin

let you to a the this I build And pricing aumo. comes. thinking force essentially market-based of in when would model, just Chris. sales think are and to going to in lero these biotech assets, just like about how any selling we understand are line we time conventional the terms market so with applies just leaders way add that And pricing about it, Again, that, means me and

is We will oncology conventional a sales are share efficient going time sales it, generate with the in avoid, market means force but be focused force to be pricing that to essentially what at with leaders, that about small, focused. line

Chris Schott

strategy? And to clarification. you initial one model Thanks in Your in has follow-up? obviously know and are ask I there the that your react to partners quick some if Great. don’t initial assets pathway, to for chance you the U.S., this articulate expecting how been regulatory these change least partners a the at on but I just can had

Melanie Nallicheri

take This will Yes. Chris, I is Melanie. this.

I First of remind here. us of of all, a do to want important couple things

examples. arrangement, you centered around but few so will Our a partnerships, of give just course, commercial I is more. are the much there

program One in of an they to our development anticipate help and patients studies that we initiate. largest partners impact of will very that entire laid where our out we enrollment our us largest have we speed that identify one favorably have planned

it the commercial so, beyond an example And just arrangement. that’s where goes just

first we invested be. As our are the partners also fine-tune partnerships But also we have access we approved is now, and for is. the to to need along that to patients ‘XX, using this be clear bring where received. trial, development like Again, this both we have you how drugs of to reality that in to we not clinical data know, and to direct clinical real-world that is drugs guidance model do to face U.S. have what where want EHR but I our have that we wanted partners outside EQRx. our identify the we advance wanted our two We our we partners in the ‘XX ensure right we strategy timeframe with our data to being can a

we that that these in use the we to earlier in believe the said Phase X do need U.S. best interest them approval of aumolertinib the drugs, do but sugemalimab I absolutely an patients and ultimately because efficacy strong FDA is use, from have As supports not safety and their data

Operator

Thank you.

comes question from Chris Sachs. next of Goldman Our the with Shibutani line

line now Your open. is

Unidentified Analyst

if Good two taking I questions. morning. for for This Thanks may. on have [ph] our is Chris. I Stephen

the think us you of three stage can the of second, Thanks. is what’s thinking this items help your are so kind on variation? this on the the like what in the understand some assumptions to and key updates you the And us disease, given timeline? file suge, help morning, first all [indiscernible] pipeline on still the through key in model, for indication planning So, in exactly U.S., the

Eric Hedrick

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

asked disease stage believe. for about three You I sugemalimab

in so, a a design Phase And of other X model, that an unmet the radiotherapy a believe this Be category a trial of we survival are right. drugs mindful of situation XXXX. chemo that then in analysis population anticipating bit with treated differs that in sequential trial patients includes and that’s is need. area We that C-stem-sponsored from that

And and that to approved some design population it to trial are has other indication. features that that unique so checkpoint currently in inhibitors contrast in

line And results, that come other survival filing and we results when in will those in the so, our bottom await we U.S. respect with the in data evaluate the will territories. possibilities to is

Jami Rubin

in morning, just about news this If try stage think I correctly, it. was how think I will And just would about I takes you how that, answer if were your heard would I the and is here given question your the the I question all to in and think model valuation. puts the

as I cash and take down. morning, Number take would this given that about to price importantly a you a represent cash, the one aumo it discount roughly years. I share $X look XX% Using aumo share. take as at lastly been $X expenses Number each X suge. also X the out Number our as and three, take $X as I pricing average most are If and would would by represents for would perhaps model, you about last U.S. six think drug. of And framework, we add four it core that importantly, it’s step of our out years update a aumo. our which the I – equally way. see your push it view your Number just months one, for and excited take valuably sugemalimab. leading so, runway would and assets operating following would and of Lerociclib enterprise or we we assume back value to in market-based and U.S. two,

We of think would framework I will let market what terms a it. in worth, but how decide of that’s that’s the sort about

Unidentified Analyst

Thanks.

Operator

Thank you. would This I like to the session. concludes the to hand back Nallicheri now closing remarks. Melanie question-and-answer for conference over

Melanie Nallicheri

of therapies. Thank portfolio the hand, potential aumolertinib by summarize, and be the led and Lerociclib, FDA with To both in confident in are promising assets in to now our best clarity and and of aumolertinib late we strategy you, have adaptive combination which backbone and on operator. early-stage sugemalimab

health more path come over thank and this to believe want strong to the balance world. of With to our patients all forward and systems we ensure all to time. just value I that will act our poised that can and partners the for stakeholders therapies create innovative are forward support ready sheet, have get over

have you a weekend. for listening and Thank great

Operator

concludes you conference participating. Thank This for call. today’s

You disconnect. may now

EQRx (EQRX) 10 Nov 222022 Q3 Earnings call transcript