BBI - Earnings call transcript Q3 2021 | Fresh Tracks Therapeutics, Inc.

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Operator

Greetings. Welcome to Brickell Biotech, Inc. Q3 2021 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. this being note, Please Instructions] conference recorded. is [Operator conference your host, will now Russell, to the turn I Garth over LifeSci Advisors.

Garth Russell

good Thank and afternoon, you, everyone.

Rob Andy Luchi; Chief today’s Chief Officer, Deepak Bert Joining are Chief R&D Chief Brown; Operating and Officer, Officer, Marchio; Monica on Officer, Chief Officer, me Medical Chadha; Financial Sklawer. call Executive Brickell’s

risks about that this the and materially. subject webcast contain and call. Before I like would call cause are could we that Please as this statements statements to forward-looking uncertainties conference our the statements actual begin, to differ of These opinions only of certain remind these everyone that to reflect Company. certain date results forward-looking note

to undertake will in light obligation are is filings I would or greater events. those new to in Form the filed to future Rob, Executive such not information any implied of from SEC. the materially in Officer, periodic statements the Company’s outcomes that on expressed with results We the XX-Q like or floor revisions and Rob or most actual forward-looking by could these differ cause Factors publicly statements or release revise results to on of to other and detail the call now turn reports discussed yours. Chief XX-K X-K Form our over Brown. forward-looking recent

Rob Brown

shareholders. future in and an on we period execute joining long-term today. delivered our growth The call milestones exciting that you Company’s past we our for Good months create us Garth. believe for and of has everyone, strategies to key value Thanks, been thank afternoon, history against several couple position successfully our as

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FDA, drug mid-XXXX. Looking which or application to in form basis we a forward, results will submit new expect these for to the NDA U.S. the

to support addition, treatment further best-in-class of these the a gel for studies a results SB In option. potential be

our maximize potential growth. positioning SB the the options we for plan will the for most as and of on shareholders what base commercialization of determined asset We any we’ll to decisions gel to evaluate the strategic for we while all value Company likely

DYRKXA There ready, technology. cutting inflammatory the several announced DYRKXA our and potential disorders. In programs, Phase broad autoimmune pipeline precision acquisition excited treat a to exhibitor platform. we X this of September, small edge to are and new of platform inhibitor reasons with NCEs key platform molecule the about are Turning a we

that both, responses mechanism in novel to the significant achieving to here and to development, industry which lead is position, the the with the with field in orally with we as that an strong a a which innate advancing and is data inflammatory at Japan, is well balance. XXXX. China immune DYRKXA data for treating there countries think imbalanced programs autoimmune by DYRKXA diseases. patents emerging X change of a to immune a IP immune an non-clinical mechanism program the disease. and including this homeostasis We as the target in that Targeting completely comes a initial about market the and least opportunity adaptive potential real patients we robust of supports inhibitor. BBI-XX ready, is we this package The BBI-XX, be molecule study. way is believe system this under restore package is DYRKXA includes scientifically has selective immune proposed underlying aims First, composition its a U.S., due platform believe bioavailable initiation of whose Notably will a covered thorough potential Phase other highly through first-in-human the action, of matter characterization exists

on Voronoi, the from picks study acquired started. the with in we the X asset This auto-immune steps, disorders. data has first BBI-XX efficacy end and next anticipated company over XXXX addition, BBI-XX Canada of line models a Phase XX has the to confirm half respect potential animal we With of top results various best-in-class in the study plan to the by In that which planning XXXX. to for initiate target have diseases, up in we different preclinical auto-immune of

it we is this initiate believe forward to So, efficient most the study. path first-in-human

this program preclinical in various atopic inhibitor efficacy BBI-XX, currently that has DYRKXA models BBI-XX of second stages dermatitis. debilitating efficacy is and diseases has promising psoriasis displayed preclinical development. as several Our the from been in and applied BBI-XX in topically is platform Like tested preclinical such

conduct expects BBI-XX the development Our year. program formulation to for activities team next

end, platform leaders, the platform opportunity aim from we key we possibility I we to XXXX. provides to to initiate with select of To Bernard featuring candidate Lastly, and Benaroya from lead by neuroinflammation. that to webinar Dr. opinion this the generation acquired efforts a remind this immunology expand next a us development everyone presentation hosted recently the Khor in take want Institute. a of Research the to

autoimmune the webinar immune the replay wealth on of event, this on of therapeutic diseases, of a and Dr. information section target, homeostasis is novel Khor DYRKXA. event. listen available and the findings During in broad inflammatory A Investors believe our I role novel our therapeutic the about discussed this restoring its event of potential the this inhibiting everyone platform, to website. invite DYRKXA and by latest We offers to

Before Company. over events call recent hand other for for I Bert a to financial the two the highlight I’d update, to like

appointment experience expanded with medical and the will Dr. as Chief we Brickell to team lead our Luchi, leadership years First, Brickell’s of our Dr. drug over Officer. immunotherapeutic of functions. affairs Medical clinical Monica and and development brings XX Luchi development

a turn equity our like approximately completion will strengthened over in a net Bert of to an million, call the proceeds offering, $X.X financial balance I’d in detail we to resulting discuss moment. provide sheet which Bert in the more of with overview. recent that, Bert? to With Second,

Bert Marchio

on call. everyone to afternoon good and the Rob, Thanks,

reported financial full to of million can I Starting XXXX. results, the I summary of with be $XX.X in with XX-Q, cash. provide the our The Investors section SEC. contained in website, read of Company encourage through cash which financial and MD&A report as XX, statements quarter our accessed the equivalents want once third Before our filed cash to on you consolidated quarterly Form a and September

As potential our $X.X sales by of of rights for collaboration the the the in expenses which Voronoi subsequent costs XXXX. of $X.X in of payments related similar clinical well to expected equity consisted of our in Revenue noted recognized position to research proceeds, the completion U.S. to capital in million Inc. increase receipt announced from which offering from was was This XXXX, million back and for totaling mid-XXXX, as cash X corporate raise quarter royalty clinical current for an gel working well Kaken. the million provided the occur for which cash approximately by R&D to NDA $XX.X We purposes. to exchange $X.X proceeds were are for to end quarter, development of the XXXX, common driven DYRKXA of due third use we stock primarily as is period by in the common Kaken to all importantly, and as ECCLOCK development, including gel. year-end worldwide was exclusive higher Japan, $X.X and recognized third reported Most to operations we will compared revenue quarter beyond capital, third for SB R&D submission shares as Phase BBI-XX, This in the of by our XXXX. results expenses by platform, for was revenue XXXX. for the stock the for approximately the the business quarter related to Rob, revenue trials, million. $X.X general anticipated Brickell the FDA, total inhibitor believe to million, these intend third SB of we funding upfront to top-line which million our for support comparable to net proprietary the

compared R&D for our coming totaled year. of focus the quarter as platform. the our DYRKXA on expenses for third the to G&A expect Moving we this third quarter year, inhibitor the forward, quarters million expenses R&D million stage earlier we for the decrease efforts prior of $X.X to $X.X

Lastly, for million call for to remarks. quarter turn with XXXX million for closing of over I’ll compared Rob third to the the that, was And Rob? of XXXX. our third $XX.X net back $X.X the loss quarter

Rob Brown

Bert. Thanks,

our beginning months several I growth the we’re that of over have call, past excited accomplished all stated events that few at prospects. we’ve positive As the about long-term expanded very the with

we study the platform, well turn DYRKXA as submission for attention for BBI-XX, next our as a the year, we such the our promising X further horizon, Phase bromide. value the set creation development NDA sofpironium As near-term have on of milestones to inhibitor as of

concludes the to our as now of we’ll have become value Operator? addition, continue remarks. to This transformative updates the further therapies to ways potential prepared meaningful believe for questions. I’ll business we for to providing up call pipeline ask and programs for to In our additional including forward that products generate opportunities, operator open patients. appropriate. expand current explore our the our you look development We

Operator

[Operator Thomas Instructions] Our first with proceed with Flaten is question. Please your question from Lake Street.

Thomas Flaten

like? the question. of how granularity Bert, for low of you runway what could then R&D to Hey. maybe get down, a comment us think bit just back you give guys your more and cash going sense looks Thanks on expenses little taking your a they’ll

Rob Brown

know don’t feel free I Bert, question. the Rob. answer if you it’s have Thomas, Hey -- to

Bert Marchio

because stage I’ll -- going you a be again money, address let it’s lot Phase it, this to less early X. work is requires

continue Rob on let I’ll one. So, that

Rob Brown

Thanks. Yes.

obviously the X few Phase So, burdened by the quarters have been last Thomas, trials.

will as Phase kind of to those of already. Fortunately, do here, we work vast, and the off studies there’s situation. not I’ve tried but where seen been you time, tail, X the that in less vast, in have of often expensed are been early vast that’s represent case development well. majority expenses this to Phase a kind if X exponentially as goes the expensive

obviously and which gives as than well to NDA Phase feel at line way some about costs the through And like from we resources efforts the, why So, the this that’s end acquisition of data the does good the obviously year. all enough feel submission, X take top we through that. as get more us next pretty

Thomas Flaten

that the it. what assuming items CMC path like. look components And of NDA, still set, the is us done. preclinical you critical to just kind speaking of off walk I’m check is need through all those Got

Rob Brown

Yes.

-- final the On is provided data, a for submission to really of a you X writing most the go we’ve Remember, those matter the items Phase putting off All but Phase reports other the done, the close frankly, probably and to except then critical data. important need the critical the finish signing while of takes it there et top out it’s have the a forward. and you cetera, to have line X. that is That’s path, together in reports study as on we writing thing.

that that next feel thing But, get is done. there So, are about to all needing there some in mid as to we’re targeting We done get there I isn’t big -- forward. that order not about mean, go we timeframe. worried good out meet timeline, that concerning we year to

Thomas Flaten

you Great. Thanks I appreciate questions. taking guys so the much.

Rob Brown

Thomas. Thanks,

Operator

Gershell your with question. proceed Leland is from Oppenheimer. question with next Our Please

Leland Gershell

and team. Rob afternoon, Thanks for my questions. Hey. this Good taking for update and

webinar me, from question had a from Just up DYRKXA. KOL on follow just you the to

in as potential mentioned, had rescue or target I trisomy that think you a Down mechanism XX as syndrome. with implicated

planned with I think that -- had some Company the that around do the compounds. preclinical in investigation to setting, potentially

Just year. Thank give sense a can to you may next you. perhaps if of see wanting sometime preclinical data that us know we emerge,

Rob Brown

Sure. Monica, help Why question? that if don’t I you have that Monica here. me answer on could

Monica Luchi

Sure, the absolutely. Thanks, for Leland, question.

actually preclinical DYRKXA. be models are the We’re right conducting which going with determining now, to we’re

I a of be have couple be what running. Fairly very yet, timing what just would expect are potentially might our clinical be But can’t Khor’s to probably we I in you that when timing the starting syndrome, We year. in for Dr. know terms because expect don’t choices. results. [Technical those be about determining prioritization going conditions. is tell Difficulty] [Technical and Difficulty] of next that we’ll with going that’s neuroinflammatory intriguing you other of the we’re Down anything models to I still

Leland Gershell

from one component strategically Great. type say, there other and dermatologic and business with Thanks. a sofpironium is that, in And in then, bring to space. of technologies obviously more the you to just do as DYRKXA, I perhaps development would and look me question derm assets. is deals additional,

extent wondering to Thank derm Just to for to additional focus or agnostic stay extent derm further forward? you within for deals a the what for going you applications you. to deals want maybe as

Rob Brown

acquired outside able to the look been license into saw be round, Thanks, you But, that a happening first actually we has innovation that that. is might home. at apply we derm for when derm assets of as Leland DYRKXA, Obviously, this our we lot derm. in to

in but saw scope We of maybe diseases as us look so, broader auto-immune for to assets and little approach wider go frame broader for that, limit Company forward. rather might And go dermatology play think ourselves that because the a to we right we as a not chose dermatology, take for play immunology immunology, the in space. we that that’s forward as to that a

to assets. we where we about excited our work that’s about. And look some So, for things out are There’s interesting that. there excited can on focusing we’re be pretty additional

Leland Gershell

on Terrific. and much, Thanks congratulations so progress.

Operator

now end the turn over of call session, Brown Rob the reached have We closing will the for to question-and-answer remarks. and I Mr.

Rob Brown

call your update. us today by I for taking want thanking to time listen for this Brickell. you to Thank close the the in everyone afternoon interest to joining our for continued out and

to out great have reach us to you always, free and questions, As feel anytime have afternoon. a

Operator

participation. today’s lines concludes for this This conference and your you your time. at may disconnect you Thank

Fresh Tracks Therapeutics (FRTX) 10 Nov 212021 Q3 Earnings call transcript