BBI - Earnings call transcript Q1 2020 | Fresh Tracks Therapeutics, Inc.

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Operator

Welcome, everyone, to the Brickell Biotech First Quarter 2020 Financial Results Conference Call. [Operator Instructions].

As a reminder, this conference call is being recorded. I would now like to turn the call over to Patty Bank, Managing Director, Westwicke Partners.

Patricia Bank

Thank you. everyone. afternoon, Good

Chief today's Brown; on Officer, Brickell's Executive Officer, Andy Chief Chadha; General Levy; Joining Chief Counsel, Financial call Officer, Rob Compliance Sklawer; Officer; Operating Chief and McEvoy. R&D Officer, Mike Officer, Adam Co-Founder and me David Chief are Business Carruthers; Deepak Chief

statements uncertainties will actual like are about undertake statements the Factors new or filings the any on by to obligation These are differ are or and statements greater I We Before everyone publicly with release call. such could Please the that materially these this report results and forward-looking we would note begin, revise statements XX-K of do most cause recent conference or light of forward-looking date our forward-looking from future information in contain that to that risks outcomes SEC. differ materially. other statements and events. any subject not implied this remind our annual forward-looking of results Form opinions to call actual these could detail and webcast that company's as cause results revisions expressed only to the company. in to our reflect in those of discussed to

turn I the company's would Brown. over call to now Chief like to the Executive Officer, Rob

Robert Brown

II axillary to will the we with and Mike X% long-term financial results. I today. on bromide to this topically CFO, towards from continued long-term first well-tolerated the make top study. afternoon. call and review safe then Today, gel, in data the safety and as joining line the I the to our sofpironium generally the during primary trials announce Phase Thank Based work a the sofpironium reported Patty, results bromide with sofpironium us to United applied quarter pleased open-label, provide business thanks and safety Phase advancements States. clinical preliminary earlier study, our XX%, on to for you, of update, everyone results and call Brickell was trial consistent III review from hyperhidrosis Carruthers, will the we bromide Brickell's are turn earlier we over Phase III

treatment-related forum. were a XX-month XXX hyperhidrosis report serious soon, over This the sites. We study to with no years release and more clinical scientific completing full the appropriate events detailed involved primary analysis there subjects total results at testing we'll adverse observed. X at of of forward age look Additionally, and XX axillary and study the

from axillary the at Kaken's, for Meeting, X%, Annual we that subjects were study March to our results Late-Breaking partner, during on Japanese Dermatology with In American XX. Program sofpironium Research pivotal Academy Asian hyperhidrosis Phase applied of March, the development positive was oral be an selected gel, announced III topically held primary which of in bromide presentation

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a least the to X-week follow-up. X the of studies outcome XX subjects improvement on to XX be concentration. end XXX end evaluating applied production to the sites. sweat are approximately with change from of subjects expect co-primary in The the studies achieving identical As in Phase each treatment be treated a the end and with proportion across to the baseline efficacy consist FDA of double-blinded, agreed III will scale patient-reported baseline from the efficacy reminder, and weeks HDSM-Ax gravimetric gel program at X points will of sofpironium a safety the Subjects the of of The randomized, topically vehicle-controlled, X-point to we XX% for treatment.

you we XX% results significant concentration of these both If dose-ranging remember, IIb study. in statistically at points Phase on end achieved our the

giving currently not III guidance on the are We of pivotal studies. the start Phase

is COVID resources limiting sofpironium We can planned agent, retrometabolically demonstrated gained and the efficacy, like a appropriate clinical-stage timing with situation the novel, that As intent the companies studies run have these effects. the local be providing are side of through on its we you the bromide through systemic clarity when variables. including on enhance the these development formulation optimistic and to while system. our benefit ways, we other delivery multiple The remain securing designed guidance topical therapeutic imagine, value of program the can greater study. in to molecule anticholinergic anticipate working We

by date, higher deactivation a been with bromide to with concentrations. therapy or treated metabolic short more has profile subjects there over fast Brickell believe and sofpironium we a the elimination, half-life as has Japan bromide if on Sofpironium the and to U.S. starting have in sofpironium Based efficacy a worldwide favorable safety clinical experience, that, conducted approved, leading Kaken. rapid patients, recognized bromide potentially X,XXX for To plasma trials and enhanced at physicians this by clinical be potential hyperhidrosis and in best-in-class

for financial Mike a to over overview. call the turn now will I

Michael Carruthers

which provide the ended our first website the on March of and SEC. the the on Thanks, filed afternoon quarter appreciate quarter opportunity XX, to to I results. financial summary read of our our accessed financial to once with our the encourage XX-Q you section contained Form Rob, statements good XXXX, can Investors everyone in also a consolidated quarterly be for through I report full call.

Starting with cash. with in ended the quarter equivalents. We $X.X cash million and cash

In bromide. addition, for organizations commencing third-party of to III pivotal million we've $X.X prepaid anticipation studies clinical in the research sofpironium Phase

for first supporting and that revenue. studies XXXX. full We of study quarter. III The the finished million quarter and swing recognition of $XX.X because the for were other winding by activities now of are of million payment Turning long-term or that compared quarter in down revenue R&D million quarter in in first that the to the safety the the This XXXX received XXXX. basis XXXX. Phase completed in development we second revenue comparable is were the from for in $X.X to for recognized $X revenue other These Kaken sofpironium bromide are decrease

of safety totaled study or first were bromide ongoing $X.X quarter were the expenses of million other XXXX. development regulatory and winding III $X and period XXXX the for concluded to costs for long-term quarter in in a other primarily comparable and compared first This decrease in but XXXX. clinical the that million study sofpironium in studies of down due Phase the was Research to decrease

public for million a general moving insurance administrative compared totaled $X.X expenses. in increase $X.X we This the are and company. This quarter. to the XXXX. due comparable since million liability G&A expenses now for fees for period is to first and directors' to primarily $XXX,XXX Now in higher officers'

And Go with that, I'll to turn over for Steve, Steve. questions. ahead, the to operator, the call call the open

Operator

[Operator Instructions].

reached would back to turn closing of have like end management the question-and-answer session. any over our for We comments. further I the to call

Robert Brown

you our of -- I'm so are today, in surprised right. And this All calling for all I our but afternoon. thank that. guests appreciate everyone shy Well,

axillary Phase encouraged III from for we so long-term results see, focused been with that in data study. a U.S. hope million treatment now bromide, in current can preliminary this and stay for data environment. all in on keeping generated potential lead again you option Thanks very in into with the the sofpironium primary safety you We We this far candidate the to are efficacy Phase the updated the trials have for remain As U.S. you the our and forward the joining. pivotal moving the III from safe hyperhidrosis on therapeutic people that both progress. suffer as XX Japan look by

Operator

This concludes today's conference call.

Thank for You your participating, may you and day. disconnect pleasant lines. a have

Fresh Tracks Therapeutics (FRTX) 13 May 202020 Q1 Earnings call transcript