Viracta Therapeutics (VIRX) 7 Aug 182018 Q2 Earnings call transcript

Welcome to Sunesis Pharmaceuticals’ Second Quarter 2018 Earnings Conference Call. I would now like to turn the conference over to Willie Quinn, Chief Financial Officer and Senior Vice President, Corporate Development. Please go ahead.

Thank you. Thank you for joining us today. Dayton Officer, Chief President-Global and are Fox, Officer; Oncology today Scientific Chief Par me Misfeldt, Executive Interim Judy Operations. With Hyare, Vice provide second review brief and will recent events updates. I Dayton corporate corporate development overview XXXX quarter will of financial results and a

will then Par the Judy open available. will for questions, be We which for call and also

future of that today’s we events. set or will be filings with not intend and we update. materially begin, conference today’s call, statements. differ expectations are such Dayton. statements let Before forward-looking and we With the forth to to forward-looking turn me that, intentions, forward-looking These to me company’s which as represent SEC, Information over statements discussed qualified during beliefs factors actual company’s call the remind concerning press you today results that those important the today’s the making call in by cause release in do from on let could accurate is

a patients inhibitors, as of standard BTK provide new study and ibrutinib, covalent treatment initial who in with afternoon, Good for for highly of resistance hope other as advance the quarter, development and you Willie. on non-covalent to to remain Ib/X inhibitor, serve execution CLL option This is Phase Thanks, this the evaluating proof-of-concept focused we trial asset In vecabrutinib. of care. to the designed relapsed B-cell malignancies. early clinical BTK will We for we the lead develop our joining such second unique asset, continue us. what our current thank patients

recommended into next progress we antitumor to The we study, the the study and as currently a of activity in the safety, update maximum and/or make pharmacokinetics, cohort. in is dose. levels the Phase the continue providing of dose-escalation an advance and cohort, Ib evaluating the dose dose forward trial, XX-milligram over look range tolerated pharmacodynamics to determine a We portion to

We Meeting. at provide detailed a update are to study ASH the also Annual planning

We have good recent momentum in trial. the

clinical and to most Phase memorial key and prepare we operations, program new We the Center for continue promotions recently development Cancer with Kettering Center, add our of portion several bolstered team Cancer and Furthermore, Sloan hires to study. II management sites, recently quality. support in enrollment the clinical and Moffitt

investigate as Our development strategy TKIs, as will potent similar cohorts to inhibitor of to include of vecabrutinib ibrutinib. who the find activity wild of and is well from next-generation the associated address us of have likely as that resistance BTK populations BTK to a with to lymphoma we and study, Ib for patients unmet those progress in will who type covalent or cohorts consideration allow both most CLL of is, patients to In vecabrutinib signals any resistance following by with developed BTK intolerant path mutated patients development the often Other the mutated the with is have early and first- a treatment, need. CXXXS-acquired seen II venetoclax BTK. Phase Phase relapse by This mutation. exploit fully other which cohort generation clinical portion CLL inhibitors, the to we CXXX

the selection preparing currently are Phase portion the are of Phase site for trial. II and study the II We the of finalizing expansion for future

in setting. the the relapsed/ for we and therapies, frontline combination investigation with are focus use refractory initial of in CLL of may eventually patients, vecabrutinib planning the vecabrutinib for our in While be development monotherapy is drug explored other

this best Hematology assessed investigation Stockholm, remain mechanisms in and the continue ‘ to characterize understanding, improve research of to can In we at end, resistance of to continue to June, support BTK real-world meeting of CLL areas Association As BTK work, the vecabrutinib. long-term under putting in and nonclinical group, supporting use inhibitors our efforts into Sunesis of of active vecabrutinib inhibitors. worldwide. the incidence ERIC the mutations order so of in and of Sweden, PCL the prevalence Initiative to we of To patients development. better growing. relapsed considerable PLC-gamma-X the population role ibrutinib. BTK CXXX increase, supported patients mechanisms similar also potential European are relapsing The on continues European CLL, we to research we this And is effort resistance Research actively understand relapsed direct

at BTK activity Professor laboratory the presented Salles of type addition, preclinical plan data this to vecabrutinib later Bernard Claude CXXXS about the lymphoma year Lyon models. as validation EHA, nonclinical and learn to we In We in vecabrutinib. wild of Universite of present de continue Gilles more at mutated the additional

Our vecabrutinib as to beyond pipeline our we PDKX continue extends program. proprietary develop inhibitor

turn and PDKX inhibitor, PDKX has I results. Our now SNS-XXX, potential an review inhibitor, plan be the IND to Willie CFO, to over the XXXX. call we first-to-clinic our will for Quinn financial submit SNS-XXX in to to

million Thank six of of XXXX. quarter to decrease you, well $XX.X net used partially cash $XX.X million in the offset in The months’ will into which was with million We Dayton. last million by of $XX.X $X.X finished need quarter, balance operating an second due activities, vehicles financing cash, primarily $X.X raised net our flows million our activities. additional of our current equity cash end with we Since from financing capital in from controlled cost we capital. the for as the have

gives we flexible facility approximately Cantor support can million $XX.X a which strategic our of on We with with efficiently stock our available, agreement tool, including purchase common another $XX.X advancement have million Capital, the fundraising pipeline. Most remaining several financing recently, Fitzgerald. tools entered and into ATM which us Aspire

million facility. Aspire have We available this $XX.X still on

in have October. And $XX which in also if warrants expire in outstanding, $X which result million would exercised, We proceeds. million

as bring option strategic can patients. cost And to corporate studies continue treatment relapsed/ vosaroxin patients investigator-led a cooperative discussions the way that are exploring group front, and On to we out-licensing with vosaroxin. refractory for to development continuing believe we help effective Investigators AML. are this

to to Operator? on development remain With focused future open a pipeline. we as are and questions. partner fund We kinase your our vecabrutinib the inhibitor that, let’s seeking call

Instructions]. [Operator you. Thank

with comes Cowen Our and question Frahm from first Company. Marc

Your line now is open.

Thanks Hi my taking for questions. guys.

Just confident second late are update are be set the on to to maybe Or you six? II And fall? you going patients still recommended QX? get dose you vecabrutinib trial. will be of three where to you the full to Phase in in Can the this in is the a enrolling to able get

question. Thanks, Marc. the I appreciate

to trial with at we’re in mentioned, But time. relates are we the this providing patient-by-patient good it I the not momentum As are seeing as cohort, guidance. where we

good So feel, feel there.

to dose in as factors. the timing Phase dose, II our a fall, remains of you number announce recommended know, the In terms but of the recommended actual Phase II on goal depends

So, we’ll updates continue as the trial moves to provide forward.

just gating of the that give of can and CEO on dose to as you maybe looking if caliber maybe then And II search an just candidate getting you to getting the are Phase thanks. somewhat kind update organizational an that Okay, guys recommended for?

Yes.

We’re we really definitely a and on to candidate. with continuing want the search, high-quality find

the that’s in really person, next stage lead who to the whether find terms not, a company And or the is goal can question we’re fortune of of in gating position. So the growth. to that

strong management team very here a have Sunesis. We at

of waiting luxury we finding person. for so have And that the right

And taking. approach we’re so that’s the

you. Thank right. All

our Hartaj comes And with next & Oppenheimer from Singh Company. question you. Thank

now line is Your open.

quick Great. Thank all. you. Thanks for the update,

comprehensive, I added sites which Will was a being the thinking it moving interesting, follow-up. got looking I first my similar a kind you time, really questions. I of opening I mean the year? believe, forward? that is guess kind the now last of And the financial sites, then, And expect you’ve listed five part of was at ClinicalTrials.gov thorough. kind have on how when the quick I European of two, Europeans study up from, – quick you – will just presented call. pace equation rest very that just how at looking of of number be this? the a just was into I couple going think, you’re the quarter Dayton, about sites the on website, and the I does geography was I seven EHA on had fit of Can So one. we That’s through of question very all then there? really very

Hartaj. Thanks, Yes.

are sites So, we’ve in do Sloan you plan add to new we’re pleased sites, just with And the participating mentioned, added Memorial study. that others. And as two really Kettering we the and Moffitt.

so that And continue going on. to is

the the study. really II the In the terms laying accomplish for of Phase pace, Phase of also Ib, what trying the is we’re to portion just not but groundwork

to And be mind. in so – going to continue that looking with that we’re in

the United portion the plan move from study. already study portion, it but II site for to plan And move also As that the Phase the well. for for do – that to just selection finalizing – of not in and identifying as Europe to relates portion the of those we to States, we’re

I follow-up just a Got to it, Dayton. had you. Thank that. Actually,

was about I and cut just that would assume it? a we if Or of thinking ASH updated abstract – you of would would ASH an the rational about the cutoff an presentation, So to you corner. that of is potential an Can abstract assume I submit around maybe then around way data? be and do sort of – kind then the right think

No, correctly. Yes. you’re it, yes, about thinking

We’re correct. definitely an would be That’s that updated data. would cut presenting around time we be the – what of

the the finances. doing what Should were to again, Got sort in we came P&L, about a it’s second about first we at for you. think should or is it, model. because Willie we’ve job half been rate run we we on below than got expect XX% it. modeling? half, be question And And what less good then what definitely our on thank ��� of matching the last were just is XX%

Good Yes. Hartaj. question,

slight uptick we the that will pace think see I So, trial a accelerates. as

So, at the close year. for correct, the million of guidance probably gave we is the the to year beginning which the I full $XX think was

amount think about if is the of so $XX so for year, remaining million And probably six you reasonable or I months a think that. the

We updating capital will as we go. of give – continue we additional keep cost balance we’ll to need for that capital, and as

Got you. I Appreciate. the questions. it, back queue thank further Thank in you. if I’ll get have

Thanks, Hartaj.

you. Thank Instructions]. [Operator

comes with Edison next Nathaniel question Group. Calloway Our from

Your now line is open.

a terminated. received wondering regarding to trials of the in on that have the collaboration been those or an the drug from updated It’s you TAK-XXX. on Takeda Hi. from ClinicalTrials.gov if quick stats that some compound? completed real Takeda, question was I update either Takeda, I noticed with

question. for Yes Thanks – no. the

with As development and partnered the for drive see, this really – obviously, you they’re compound. is, them, can a they currently collaboration

look really So, provide we the them for updates. to

and relates compound they to at time. study, really are focus that’s this it low-grade a As the glioma pediatric what’s supporting on of ClinicalTrials.gov, that

is And bit more little of if wondering this whether to the – be Or an going the to be on is And great. second that an of that that’s just us be ASH? at you update primarily a going color on safety? my to I maybe is focusing scope give presented just was will Okay, on efficacy question that? data be will going there can data be sort

We going update. Yes. meaningful it’s definitely be to a believe

more But includes as activity we content. be going also As to on we’ve meeting, it and the the cetera. talked get that we’re exact looking which past, safety all to updates should closer at evaluating, et will pharmacokinetics, the in pharmacodynamics, the be primaries provide we’re about

All guys. that’s from it right. Well, Thanks. me

closing Dayton Thank now Officer, like today’s over the to for Executive Q&A would Interim session. concludes Chief Misfeldt, call to I you. This back turn remarks.

the interactions for and thank interest. our on your all and months. call providing ongoing today We future in support Well, and for forward look Thank you. updates you to coming participating

gentlemen, in participating Ladies conclude This and program. does the you conference. today’s thank for

disconnect. Everyone, day. all great may have a You