NKTR - Earnings call transcript Q1 2021

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Operator

Good day, and thank you for standing by. Welcome to the Nektar Therapeutics First Quarter 2021 Financial Results Conference Call. [Operator Instructions] Please be advised that today's conference may be recorded. [Operator Instructions] I would now like to hand the conference over to your speaker today, Ms. Jennifer Ruddock, Head of Corporate Affairs. begin. may you Ma'am,

Jennifer Ruddock

clinical COO and Brian today. trial to plans information, everyone, of clinical we call February XX-K forward-looking the IR With President actions these Head statements and at and and on Form developments no the On at Labrucherie, Robin, available the expect Crystal, and regulatory clinical our call Development. set presentations, to Jonathan for certain our and authority Nektar's of in forward-looking of of on the pandemic's on relate that is otherwise. difficult update trial our outside inherent future guidance are was of for of result Chief regarding outcomes future, our statements statements for Important website are thank many nektar.com. Interim potential will for the drug control. uncertainties joining our our and and statements Research our or of of any risks of this Gil CEO; they whether new other and us that us data and which COVID-XX subject of and XX, and impact call, timing including CFO; on available obligation business, of business. which results, XXXX, good future forward-looking decisions, filed you, page clinical to make A are are risks Dr. and future our are to sec.gov. be Zalevsky, business regarding our Because clinical the Dr. and a uncertainties to trials, timing estimates We webcast undertake as predict financial forth plans afternoon, Development; therapeutic you health Howard predictions and plans Kotzin, Thank today's on candidates, and and enrollment trials, the CMO future and

the since would will over we to President from your to I the session. to that to you CEO, and like for that today, turning I like issues avoid the can Before the call our so moderate during remind session Robin. in said, With dialing locations patience. call We appreciate we're hand Howard? Q&A I'd over Howard technical Howard, different team, our

Howard Robin

the Thank steady you, Jennifer, data entered to We for III readouts deep year. looking the XXXX portfolio Phase key today. beginning Phase to everyone we're and of from with cadence a thank immuno-oncology of in us joining developments, you candidates immunology, and a to data range later its investigational a we call medicine could this spanning sets potentially and I forward and and own the on These the value, trajectory set in a broaden of in provides patient populations on potential types of us serve. transform autoimmune have disease. tumor to us distinct ability the gives portfolio treatment to with Each Nektar our new that

and position in our and the cytokine Our next for conjugates to for company. focus area of we setting in research the science, of medicine designing our given continue in IND candidates stage the leadership novel us a pioneering work field, this wave has area immune as the

inhibitors, clinical overview pathway a developed or of program status So KEYTRUDA our of and pembrolizumab. or in which the advanced most being a brief combination Opdivo with is BEMPEG, I'll start late-stage agonist, IL-X checkpoint nivolumab novel and with

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III PROPEL, cell chemo-sparing use first where As these differentiation be form in a Phase there in we will non-small the to track in trial lung regimen. cancer, a true we data our registrational strategy doubling we believe could

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us ended differentiated well also pipeline the financial strong value of to incredibly position therapeutic and investments. positions of our that XXXX billion to We see, in you expanding built against execute multiple We cash And in therapeutics cytokine remain quarter very and build as approximately powerful $X.X Nektar pipeline. a areas. in deep has first could an with substantial

spend the JZ? like now some key I'd who programs time to the as about this and well JZ, will readouts So development year the data talking as updates. over call turn other to

Dr. Jonathan Zalevsky

Thank you, Howard.

for BEMPEG start readouts. me the trial with Let program our and timing registrational

which First, first in BMS, melanoma the metastatic first-line this part from or our this data of partner, would is for the being by of that trial study, BMS be the frame indicated time run in late available XXXX. has year

of nivolumab to the Now and this cell nivolumab nivolumab running, accumulation renal combination a the of study. impact the X.X in analysis, XXX study. the versus And the event-driven remember design median carcinoma might to the study, PFS, comparable of Nektar is be is plus observed BEMPEG factors, next is progression-free months an the PFS a number or survival, is III evaluates The that Phase study PFS since CheckMate timing. the for first-line modeled including monotherapy, event rate arm which on

doublet that and overall Nektar development primary nivolumab a analysis of the the XXXX. first-line BEMPEG half treatment TKI-inclusive urothelial Phase that RCC sometime to is for accelerated could to a With by taking baseline our in PD-LX TKI as the of approval. carcinoma, BMS to to of a for we about lower for And radiology as or serve cis-ineligible endpoints in as in Phase are study a with or study expression. approach earlier, pave determined for allows of TKI way of expect plus cisplatin-ineligible of respect comprehensive the the measure in and RCC BEMPEG combines stated primary nivolumab score nivolumab first in potential with central BEMPEG study designed nivolumab this II basis a the overall endpoint We is interim I/II filing regimen first reach ORR a tumor response regimen CPS of BMS plus as have as compare and the rate survival for Howard type. XXX review well. carcinoma patients duration urothelial plus to us conducting a to response a this XX who a And the

XX first we this of median this duration of looking for response are to months, a measuring the our of we from XXXX. follow-up For study study, data and middle achieve in expect

melanoma. other work X have in on Phase build III also urothelial We carcinoma large and studies that our

or is patients First, surgery. the BMS, receive cancer being study, BEMPEG which setting will the our in is muscle nivolumab invasive by bladder XXX run enrolling XX-month nivolumab monotherapy periadjuvant who plus approximately following for treatment period

to is setting. this readout study study large, This be a XXXX. is potential in As to first we the a designed urothelial study approval for in accelerated the also cis-ineligible carcinoma confirmatory as expect data serve

the within melanoma of the treatment patients Second, study combination. that also trial can number building this of the The endpoint from from could plus care approximately the BEMPEG period the increase an and BEMPEG a nivolumab adjuvant significantly the on Initial study, for nivolumab melanoma of post-surgery, is study in to as data XX-month is of XXXX. benefit XXX setting. This is survival. expected event-free position melanoma, approval in designed successful, this if recent treatment patients enrolling standard

Howard stated, to from non-small cancer study As year. of data second the initial expect cell half the report we PROPEL in this lung

BEMPEG so by the in that as X%, XX% of said single-agent PD-LX compared at the pembrolizumab. in As PD-LX achieved study cell rates In evaluable And efficacy as cancer, be of time. treated patients most impact in X% is plus will a past, subgroup. the with historical across XX% and of we for checkpoint underlying than we equal to patients for This single-agent the less pembrolizumab the the subgroups. is pembrolizumab the status. treatment, to clinical the patients plan greater spread benefit the or understand XX% subgroups than benefit pembrolizumab have scans and greater to has of patients microenvironment know efficacy in separate such the potential on X expression quantity doublet looking in lung designed inflammation X or inhibitors a show the the the than in to of defined tumor big of maturity non-small over ORR past, expression more least has on discussed are we've The single-agent PD-LX fully we expressive in benefit we can doublet

the in Given and the of mechanism of expression improve subgroups. BEMPEG, non-small cancer of could targets which inflammatory the the we increases and BEMPEG doublet state lung tumor pembrolizumab multiple in microenvironment, the that of the combination efficacy believe cell PD-LX

the in a added to also strategy. are the to work cancer. a doublet chemotherapy we arm half us non-small initial to Phase second option determine forward and with a also PROPEL for potentially in doublet And order the pembrolizumab combination BEMPEG cohort in plus III the Phase The from allow XXXX. recently include We to strategy looking to the BEMPEG combination in of allow PROPEL III us from will with in lung data data double study presenting chemotherapy doing our with additional chemo comprehensive cell we're

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to IL-X this about deepen nivolumab sensitive pembrolizumab metastatic BEMPEG given we their and excited data activity potential plus is Historically, shown which cancer doublet increase plus we're have alone adjuvant pembrolizumab and of immune-sensitive are with cancer. the cancer, has to especially several very combining setting, in in and neck both melanoma, this seen immune develop response another BEMPEG and the in versus the published studies head in excited We here.

on limited There recent indication. in are front line. several studies going other late-stage frontline there of have failures Additionally, this mechanisms in the been

neck mechanism this see we establish for BEMPEG first unique So IL-X the and opening as to a us head in as cancer.

For our of study track this middle data to the COVID-XX we year. remain study, report this by from on

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cells, combined pathway. provide of killer the on path to cancer in development function NKTR-XXX, of the program. to agents immunological T improve development killer of The biology We've full to the holistic The control and can killer shape cell Moreover, and of biology response widely discovery ranging is be our and importance this BEMPEG and mechanisms for memory potential cells, help cells recognized. and the engages the to potential of natural therapeutic cells We IL-XX treatment even with cell treatment future data immune checkpoints of agonist accessed this IL-XX their from of the landscape. setting NKTR-XXX that unleased us turning rich activation becoming and track with homeostatic And the subsets. therapies potentially immune efficacy. targeted report of will natural first the can pathway based biology to natural NKTR-XXX the upon namely the with biology multiple agent summer, IL-XX are functional engaging in IL-XX CDX this by current an NKTR-XXX,

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these We looking initial findings. to are forward sharing

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II expect with complete complete be Once dose, the of or arms into We will and or rituximab with recommended part the escalation to data to the or dose per a first low-grade later monotherapy NHL. patients escalation evaluate dose XXXX, this we One greater XX dose several of combination identified in arm. in escalation portion arm monotherapy will approximately from is Phase lymphoma NKTR-XXX line to we've expand follicular as study presented year. third in

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evaluating in X with groups or is of distinct metastatic in NKTR-XXX Our and neck head study patients cancer. colorectal combination with cetuximab refractory clinical second cancer late-line highly

enrolling are in XX up We to and the Europe. U.S. patients

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initial have to expect We later from the year. this the dose-finding some portion data of study

science, hand provide call polymer has saying foundation our to pioneering brief the Brian, update to of dramatic have chemistry work improve activities. our At and discovery that research I'd expertise application and cytokine on research especially biology a examples before the Now we wave continue next of based In our in on immune I laboratories, like to rich our without potential the BEMPEG, properties and polymer chemistry. in we goes of pharmacological X proteins, Nektar, provided clear NKTR-XXX NKTR-XXX. It cytokines.

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more efforts in the the our and future. on in detail. program look now over forward our review updates this continue to to sharing advancement Brian We turn with of programs, IND-enabling NKTR-XXX the call additional to I'll I work preclinical

Dr. Brian Kotzin

you, JZ. Thank

Lilly. Eli are pleased scope broad program and our As Howard partner, earlier, NKTR-XXX progress said with of we the by the very

the colitis. Ib lupus, the Phase the last year manifestations data develop autoimmune a our by lupus study including continues ulcerative this of Lilly the evidence function With earlier in of diseases the studies these goal separate than clinical year meeting commenced potential the compelling, molecule of initiation that in of and followed Phase last Many Rheumatology also Lilly role patients II native more Treg or psoriasis and is and NKTR-XXX, numbers, IL-X. cell and EULAR lupus manner dermatitis. Treg study decreased Phase The with X Treg stimulate the based II of rationale Tregs advance IL-X. American in to reduced abnormalities production and/or autoimmune highlighted Following year, the systemic upon presented the to in positive a in and extensive and an address ulcerative as or system these could malfunctioning Data immune the of diseases. colitis, in of both T Treg associated atopic is cause mechanism IL-X-like for at treatment are imbalanced of regulatory approach. low-dose selectively reduced to our disorders, of College effective inflammatory underlying

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endpoints. XXXX, of XX primary saw in a Phase scale. weeks least at achieving improvement index, secondary endpoints weeks. led are with SLEDAI also a in percentage every of in the lupus to data with in quarter lupus, initiate doses is patients endpoint NKTR-XXX. X included Phase II to as These or X Standard of composite reduction which We being for a also dosing of II disease exciting to skin Lilly or studies activity Phase NKTR-XXX lupus activity study systemic in period lupus study disease the in moderate the The II patients treatment X In placebo, began SLE XXX the severe in are X-point clinical used patients lupus. study randomized X of administered

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XXX to pursue percentage clinical adaptive excited is are using and after patients, induction expand treatment and NKTR-XXX dose weeks. evaluate levels period the initial be this with patients design. an planned will ulcerative Total we partner, program XX induction the enrollment at of colitis our So is with to trial endpoint during remission with The multiple the study Lilly.

as grow NKTR-XXX. are X planning the know in is initiated addition, the months, yet to be as studies In program There we that Howard stated within for plans development to earlier, to continue X Lilly indications. next additional XX to undisclosed Phase II for

We develop diseases. advancement agent inflammatory and rapid the Lilly's their of to are program and autoimmune pleased in desire broadly with this

of be look meeting studies to call NKTR-XXX, review turn to Ib and now presentation with psoriasis presented Gil over to medical from we I with at Finally, potential in a ongoing forward a will the next in dermatitis the Phase the atopic these of least data financials. at for one the the year. work from

Gil Labrucherie

On strong XXXX financial Brian, in the ended is for year. and you, I in investments. quarter everyone. this with review will guidance, the billion Thank We first and unchanged financial which exceptionally cash good an afternoon, $X.X call, our position

we first-line based collaborations head neck neck only and other is million the SFJ and During committed $XXX of the to strategic with quarter, study the to is SFJ agreements, fund Merck. that these support pleased up cancer. into to announce to we terms to BEMPEG entered Nektar. were SFJ to will payments Pharmaceuticals BEMPEG cancer Merck metastatic Under entitled of contribute and on And cost FDA indication. approval one success pembrolizumab BEMPEG in and head at no registrational melanoma,

very We portfolio. to BEMPEG are add structure collaborations, these another us the ability to opportunity very risk/reward indication of pleased with large the giving the

is for with investments. still to XXXX year from the million in least end usage call, and at February and Our unchanged projected $XXX earnings plan cash our cash we

million $XX year unchanged full product $XX noncash guidance Our for $XXX and includes million XXXX, revenue royalties. of between $XX and at $XX million sales, million million and approximately GAAP of and remains

to expect recognize during fairly revenue basis We the a year. this ratable on

expense GAAP XXXX for anticipate also unchanged Our will $XXX year. expense million. GAAP We $XXX guidance the range R&D million between is and R&D

Our compensation expense, R&D and the of significant guidance study, neck expenses be reflected approximately which SFJ, million of $XX but $XX noncash includes being to of approximately component continue which stock R&D funded million a component $XX development which is of a our million, depreciation as is and BEMPEG by noncash and of head noncash expense. will for comprised

$XXX million between depreciation be of approximately and million, stock to and projected still is and $XXX XXXX for compensation includes guidance expense noncash expense. $XX G&A million Our

$XX expense royalty be interest streams. is the million Our monetization expected million, and our from arising $XX of to noncash between

of the on nonoperating a expense the Over success cash we derivative statement the weighted discounted our will accounting basis. a probability the recognize expense liability. will our and probability for SFJ examine on based Additionally, with payments on success-based earning a that quarterly assess we to to and SFJ the flow a time, contingent payments income corresponding model adjusted these derivative includes increase liability as

we continue call, million noncash As during on reviewed derivative will remeasurement approximately expect our the that, this to Operator? related to open questions. of liability I And $XX call the to expense of I February with XXXX.

Operator

first our Lawson Instructions] [Operator comes Peter from question Barclays. And from

Peter Lawson

Great.

could On the second see potentially the this amount PROPEL of we data study in in the year? that lung, what's half of

Jennifer Ruddock

Thanks, Peter. mind do you JZ, this taking one?

Dr. Jonathan Zalevsky

for Yes, question. sure. Thank JZ. Peter, you is this the

last of of Europe. of in intensity a that the it's real patients. of talked the And increased is as late study across to it both the accrual subgroups. COVID lot gave so our those reduction sites XX rate we very, And very each a patients. of PD-LX patients and designed really the at in before, across enroll And is it saw had patients XX this approximately do approximately it's way update as And then lot an X designed subgroups. with of expression quickly. enrolled lot a about And we different amount the stratified to So European we explained year, JPMorgan are year, we a in earlier sort even

we intend we'll period a a the patients data such for very And to our set. second rich II study. And mature a so follow patients, worth year half the scans presentation, very of presenting X target time we long that totality with of them at for of be you from see of can provide expect to to data least and the with the data Phase

study of such the this we of kind seen of depth rate we've the across with So than In complete And as to talked greater of that XX%, of response subgroup, for response, the available that biopsies well from than well safety is, rate response pembrolizumab XX% whole also the kind about the PEMBRO. as for of thinking a samples. of tumor about we've along the the accumulated XX%. collected endpoints, X%, we've response of patients a information as event some as of the are single-agent additional the response all about about composites both less benchmarks response XX% rates, single-agent And from in all X% reasonable for of blood to XX% the rate as of information present there kinds pembro from some response, of duration we'll all KEYNOTE-XXX. to the patients, In the we've subgroups. the any an single-agent time for that PD-LX the we've response, rate, X% the seen we'll the seen present biomarkers

those data Thanks so benchmarks we of the from kinds in this as mind study. about are the the keep And for question. to think

Peter Lawson

follow-up. Does PROPEL well? arm should we I when -- the third with lung, guess around the a that just then And chemotherapy data as that in see

Dr. Jonathan Zalevsky

Yes.

to So those open started we cohorts. just

in starting So accrual. just they're their

expect data into next So future, we the year. would to well see in

Operator

Olson next comes Jay Oppenheimer. from Our question from

Jay Olson

triplet nonchemo promising, would RCC? combo to increasingly lung nivo cell potential TKI can move becomes plus non-small triple a cancer? comment of triplets where into you And BEMPEG of earlier combo like the in on plus As that lines fit the

Jennifer Ruddock

you JZ, you, will Jay. that question? Thank take

Dr. Jonathan Zalevsky

the Sure. Yes. question. you Thank Yes. for

course, a plus avelumab we've PEMBRO nivolumab. plus impact, So with RCC. PEMBRO multiple amazing results. And I cabo seen checkpoint axi seen Lenvima, And think, inhibitor TKI then it certainly, of and combination of the we've a axi, some plus We've in right, really seen that. examples of with with real with

add and to better exist of does need durability better a opportunity there's rates, of for further still agent because elevation third still the the response the tail So curve. the

together. with about opportunity we're this the also important The developments attention And that have program. on. RCC excited is going TKI. when X why have very then, drugs a all things. you start to all increasing toxicity a you also BMS, balance you the is of development not these which Now course, pay of are crowded, But any overly of of of And as said, really combining to part the our there BEMPEG and to is lot plus is and nivolumab landscape

is clinical there's trial And real underway. It's opportunity well recruiting patients. think so in a And that that setting. we

I PEMBRO we nivolumab. think, question, know the population your also very, study LENVIMA around on the of really provocative part is is greater than very an the because X% that added study other corner plus there's lung non-small ongoing one focusing with This cell to The that's cancer. in on being run, LEAP

would even And of very again, non-small expected be that again, in care interesting And next impacting a cancer, trial part early of readout. It's be lung potential with that triplet again, potential of standard mid year. an as opportunity BEMPEG to it that the well. doublet as of in so combination, likely the the cell the a for adding would the to has

Operator

next Our JPMorgan. question Jessica from from comes Fye

Jessica Fye

I have a BEMPEG. few on

First, on couple on a melanoma lung. and then

PFS ORR the to ORR, So time readout that to early whether that do to you PFS that in around when And confirm interim? want results readout? I on then And Or to? talked year-end the from the is study first data that study referring that's about potential it you're expect first-line or you is a melanoma XXXX. if based

Jennifer Ruddock

take JZ study. But anything. is this BMS this Jennifer. Jess, So is add running melanoma and to see if wants the I'll actually

the X to endpoints ORR by readout do were X separated on that endpoints, Based we first. the original X PFS, those X have So will and months. study, design of between

they yet disclosing the that disclosures think decided studies with, is with data. they've at of We had other best in probably have look terms companies But we'll the BMS running how to data. their be and guide disclose how I not

study the was a in disclosed example, XER release. For press CheckMate

around with been the both that. design But by don't decisions any closely think it, but PFS, we'll independent the them have made I original again, So review. on study, be ORR BMS is working yet running then and on was and disclosures the

Jessica Fye

Okay. be then know presented? expect what the patient the X I'm talked on study to you of that by I number having per number will of And average a be? average about the asking minimum scans you time scans, lung, scans by then but what expect do in the it's PROPEL of all patients the you

Jennifer Ruddock

the this address to want to try maturity? you do in level terms of of JZ,

Dr. Jonathan Zalevsky

I present so to data. Yes. mean, mature our is what intention, -- Jessica,

on And some others. in so the because the we of have study in And of the last approximately longer course, middle study patients scan been year, X-week began interval. then, so than part

really data amount set. is rich And and goal minimum And scans a so again, our interpretable intention just is per X that to present the of the patient. is data

Operator

Yang Mizuho. And our from Difei from next comes question

Alex Bouilloux

for Alex This on Difei. is

Another the that's data question lung on coming up second the half. here in

would benchmarks talk versus kind little you bit that, of sort bit expressers. And the in alone a alone joint of you'd and a and a You forward the then move rates ORR by that like with PEMBRO decision rates to or that would take made that Nektar in to delta you talked PD-LX PEMBRO the what the as in response would terms decision about about promising forward? little different see be Can consider not together? of with Merck the you and along -- also will

Howard Robin

want Alex. to answer? do you Thanks, JZ,

Dr. Jonathan Zalevsky

questions. Yes. good are Those Yes, absolutely.

the benchmarks single-agent we for as talked pembrolizumab. I mentioned, that so And about

considerations talked before. the criteria study as does built that So have the Fleming about into statistical some it, such we

incorporated kind could different, sort another are the benchmarks. of is than of into are you But Alex, about Fleming some it, think right, way meaningfully ways So guidelines, that just that right, those that there trial. are

to So of the a for greater and XX% the example, consider to X% then tumor of of really BEMPEG that of its like that's the like increase things and gene could efficacy than amount expression, microenvironment XX% the you infiltrates consider CDX if you in the to transform transform tumor interferon the PD-LX combination. subgroup also of other to status, -- look essentially tumor action mechanism that, like we its kind you

rate like look for the example, look in for things it. we benchmarks, response example, X%, at than doubling, those less at when we more the or So tripling

as looking components an the X%. mid-XXs of whole than the then in at like progression totality ranges So kinds well, data well. responses. XXs, the the look less event X% relative durability look to kinds and Those we'll other that the look And right? at. in time are of We'll you at also we're the of the to And as at of historical

III, remember Merck terms our on on study the go PROPEL decision to collaborating that with of not In we're own. trial. Phase the that to running We're

III our move Nektar, will to that the be to so on decision, to Phase and of And forward that from be PROPEL, will based decision any make. actionability data

Operator

Our from question from next Ben Stifel. Burnett comes

Ben Burnett

Fantastic.

one me. for a quick Just

Regarding already dose the the you PROPEL being of flexibility what BEMPEG? study guess, to here? have I chemo and have dose BEMPEG? doublet, settled And specific dose the Or are of you the around cohort do ranging you added the with on

Dr. Jonathan Zalevsky

Yes. really questions. are good Those

And as the of PROPEL actually different doses in know. have the doses, you flexibility study, we BEMPEG evaluate so to

So just of that component with different optimization running a dose the both doublet in tumor a range we're that includes types.

the we the needed. And have in so plus of but feel can we very as with really PEMBRO that chemotherapy, it's to explore BEMPEG, mean, combine dose I confident BEMPEG chemo. also opportunity with dose different the levels we

Operator

our comes And question Graybosch from next Leerink. Instructions] SVB Daina [Operator from

Daina Graybosch

as studies were accelerated platinum-sensitive your from that And first-line narrows for discussion early-stage accelerated need to wonder cisplatin-ineligible. unmet checkpoint patients points And you bladder in cancer. a on have strategy accelerated discomfort relevant -- there for of maintenance or on accelerated your any cisplatinum-ineligible BEMPEG on from FDA approval a ODAC in checkpoints, conversations interesting that approval of recent One, avelumab metastatic second, across the some approval. implications thought the all for ODAC approval was potentially the were had I bladder there We bladder. if And the X using the plan X was I to potentially thoughts any a from confirm cancer. about approval

Jennifer Ruddock

I'll ask JZ, at take one. a that Daina. you, to Thank stab you

Dr. Jonathan Zalevsky

We question. for right, the to entire them days all were very closely absolutely. different watch over several committee across the ODAC community. interesting, tumor meetings Daina, our of No, Thanks, types. very sets Sure. Those

how could impact see end didn't of the result points to and opinion that for all in were final certainly, that of make things the of us points and were but the case. they of have -- FDA's vote the the the discussed. we'll this interpretation that specifically that sort So ODAC on And you

recent accelerated judged always approval the is you the of unmet So with the certainly, first you're we care different the that whenever the the on point, that things available the that standard the time. of data approval we're mentioned. totality deal with need an on be against really attempting could of one at And

study, the we'll that though we time moving since has will the even the still changed into. that that be be started that situation so And

saw PIVOT-XX, And there's rate, showing so when profile in PIVOT-XX showing well accelerated CR same right, the possible a we set is durability point, And data treated the make balanced ORR, very so acceptable to our very key kind of we in response, best a a that long very with provide good the FDA ideally safety the patient that to a reasonable decision. potential that's populations. then risk-benefit with approval profile for very

of Now was to you approvals. even things in accelerated the that next real mean an overall over tumors, a dissect the opening And if confirmatory of even about versus general studies eye situation. it's greater part, of success I I the liquid of ODAC kind solid tumors that kind one from think

have that provocative it all to and the see So these how for which think exactly just on impact might Thanks to impacted, ODAC of those potentially going wait nature and at meetings. the now, I if was questions. all. we're really determine position things But do FDA's of for the would be us,

Operator

question comes from Lee Canaccord. next from our Arlinda And

Arlinda Lee

how I'm things What then earlier to I stuff at do X before, would might going wondering platforms that And patients but it's this a interesting? least about find On then be response somebody your you at X know now? you would I and XXX, be be interval can think would that then weeks? complementary of of means cytokines secondly, what chemistry. answered that is be to essentially you was so at confirmed early beyond you've weeks, have curious point? duration talk they about additive many other if X stage maybe scans, on the the if has And polymer least and responded the roughly you -- or that some kind on

Jennifer Ruddock

through XXX these you, in to the JZ, do that's talk -- seen want you Thank Arlinda. studies? data that will

Dr. Jonathan Zalevsky

Yes.

effectively. significant output interesting as they're NKTR-XXX. a think myeloma, seeing really local we systemic advanced more either marrow, question, solid treated of such then the the right? remember, both able evaluating that But XXX to patients the Working To we've inducing of on effects whole excited myeloma or changes yes. to Group me, also patients fact the marrow I'm really criteria observing all bone Lugano in have for depending cellular well if setting. for most we both a seeing is to the in one then a that and the the treating And lot evaluating the Like, able seeing to eroding the patients NK T with even tumor. escalate and deficiencies -- as heme bone NHL understood Arlinda. and And the patients Myeloma from in dysfunction in multiple a differently, XXX that the We're evaluated the not patients we're CDX with and XXX, point patients of is as nature entirely the we're marrow So still I we're of such multiple see. them. population damage. in dose very I they cellular been that, advanced actually elevate have in kind tumor with of face NHL studies, a have patients We're in things and RECIST with focus malignancy, And range data multiple that profound criteria already multiple sure expect they're myeloma, many compromised patients. these cells cells, advanced of the the in as very of even heme solid But of that of on use that result the myeloma, or disease. in we're of we're And

extremely And present but year. those continue not to the program So with these with of we some think half we're excited are IL-XX to in encouraging very data our also that seeing just second signs, studies, agonist. ongoing this of

in terms discovery. some and of things Now doing of in we're the research

engineering that a we is with that -- called mentioned Biolojic a earlier earlier a Biolojic this engineering. use specializes fun discovery compelling. lot protein antibody approach. have collaboration we It's Design. And times is announced year, company and of engineering protein of very the unique They I approach. they're actually working a one a I things the a computational company uses really antibodies, that So of kinds with AI-guided in an

with we're very target targets, address to using antibody working important we're So an to immunological approach in and them them. order

have a modality. So using different this is one And we uses additional totally we're of also example that exploring.

that to Some well a of induce But of facility. as change kind various to both state the doing in the the well. in them in of kinds are as research kinds future forward I'm things labs And these excited signaling. we're with of our additional all things move chemistry basic those the that to and can come as chemical INDs the of of involve multimeric to modifications proteins, the we chemical proteins as polymers combination geometry polymers, well as proteins to additional non-PEG-based different use modifications

Operator

conclude any does to for session I'd for that question-and-answer And today's Howard you. like Thank to turn remarks. back Robin over our conference. closing the now call

Howard Robin

efforts Well, we're their And our clinical contributions. dedication today. you, on to while joining thank during is dedication everyone, very and these challenging very, their and very consistent times, continued our advancing their track impressive, employees us studies and for for to keeping like thank for business I'd grateful our

are advanced balance And forward families for continuing in most the ongoing immuno-oncology and you safe that we we are our provide and shareholders to look our their an important well of thank to with field. earlier, sheet you and stay stated a hope your programs. their immunology support to positioned strong continue many on and with portfolio we healthy. I updates of which And As programs, and

So thank much. very Appreciate you it.

Operator

Everyone, you conference you your today's participation, now may Thank for disconnect. a This and call. have concludes wonderful day.

Nektar Therapeutics (NKTR) 7 May 212021 Q1 Earnings call transcript