Alaunos Therapeutics (TCRT) 7 Mar 232022 Q4 Earnings call transcript

Good day, and thank you for standing by. Welcome to the Alaunos Therapeutics Fourth Quarter 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

to Dudgeon conference with like speaker to now Danielle today, Stern would hand over the your I IR. Please go ahead.

Good fourth quarter the three results to press release Alaunos year issued and results morning, welcome audio financial for financial this and conference morning, XXXX call full a Earlier Alaunos months announcing for and and full December Alaunos webcast. Therapeutics everyone release, as ended XXXX, press annual on filed December SEC today's report XX, with ended to this XXXX. read the Form which was morning. XX-K We XX, as the quarter encourage the well year

The at company's and alaunos.com. will report website available also be press release Alaunos' one the annual

be webcast In the company's section Investor archived addition, future Relations will the there reference. conference this for is being through of and call website,

that that is information the Litigation Private the on the is today's the Please results information by XXXX. conference Securities could associated company's only as from cautioned time-sensitive this and Actual discussed call of X, call that today Participants safe provisions to implied materially or note risks accurate covered certain are harbor business. date March of Reform broadcast, of Act under the due stated uncertainties those statements differ XXXX. made forward-looking with live this of contains

undertakes as events Information reflect this securities may of most no to company set after SEC obligation on except update recent revise forward-looking are sec.gov. circumstances by potential statements our at to be risks forth applicable the public The webcast, in and uncertainties law. the filings with or any required date or

and Technical President Finance. and Deniger, Vice Officer; of Mike Wong, Vice Boyle Kevin are Development; Senior, Operations; me With Executive Chief President Drew President Srivastava, Research Abhi Vice of of today

to With I would to like Kevin. turn the that over call said,

several Therapeutics, here and meaningful for objective a achieved Alaunos you subsequently for achieving year transformational Danielle. response. advancing including our first we making for update corporate cell are exciting us library program thank today you, our Good morning, clinic as Alaunos. an the at XXXX on TCR-T and the joining we progress Thank milestones clinical was into

a outcomes. team's are of leading patient proud of We to T-cell treatment I'm of improve focused highly committed and scientific and execution. revolutionize the our extremely development solid realizing and the R&D our receptor with to technologies work cancer novel efforts promise clinical therapies company,

believe TCR-T advanced most potentially immunotherapy is frequency kill tumors. high mutations solid driver promising We targeting to the

are proud cell We be therapy. to of edge the on leading

a demonstrate with objective We cell TCR-T are therapy. a the in non-viral company response first clinical tumor solid an to using patient a

by among study motivated results the Every investors, interest significant since day, partners into from country. inquire and encouraged the patients across our other clinical have to are reaching generated stakeholders. potential these are We and multiple out physicians, key patients,

for provides This growing foundation ahead. year a momentum the tremendous

TCR-T ensure to Phase we an milestones work at for hard X/X meet can been IND have fourth our quarter, XXXX. in program We the Library filed we that trial. In amendment the

As part we and critical to this enrollment enhancements processes. manufacturing of several made our amendment,

it enrollment, treatment patients for both physicians. our we First, screening combined and streamlining making and protocols, easier

screening the passed which retest more mutation to patient's has are than required we Second, tumor six and for longer allow months between accrual. no if faster will treatment,

retained mutations that at they core be driver We as the of are these confident the are cancer. will

for manufacturing XX days, our reduces to process simultaneously treatment. scheduling to cryopreservation time while manufacturing added we patient from days Lastly, flexibility XX process. Cryo and the increasing

big is us of this ahead, trial yes, also additional cryopreservation many [indiscernible], great sites state. world common Texas. allows there to open a the look to of outside belief of And we contrary As outside

all with targeting with library use frequent effectively pool eligible new a XX% In now this doubles This TCR. TCRs for two against matching HLAs. the solid our amendment, leading Anderson of expansive and our study for trial industry at TCR our screened MD for IND mutations to addition patients patient more added we cancers than again library

together, are the of changes end enrollment year. the will of these the us in to by pace enable our Phase increase us confident to that become ready we X Taken trial, allowing

to and look what trial our talk about X year we Library TCR-T Phase towards as like like readiness. I'd X/X will move Phase this

ovary As is targeting recall, duct cell this will trial colon, mutations a across endometrium, cancers. solid non-small lung, tumor you basket six driver indications, bile pancreas, and

mutation these enrolling actively a that combination to one Anderson cancers of in both at a are We on library. our six any available TCR MD is specific with matching and based patients HLA

HLA-AXX, KRAS, EGFR. As a third five pancreatic consists trial. result of amendment, December, of in one six patient the cells. successfully was tumor of expressing one with most XX second and now The within the with patient mutation the treated level the we This and at TCR-T recent In our XX cancer with our TCR TCRs, the matching a was KRAS-GXXV billion dose library TPXX library. patient TCR TCRs diagnosed IND dosed

manageable first with the three profile with three ICANS distinct a is TCRs. observed. our three As representing flexibility first the different study being patient or patients safety patients, three DLTs with indications on two had with The platform the of no astonishing treated

other credible, treat believe at standard practice. that results this look multiple we clinically forward meaningful additional patient patients, safety on presenting we sharing year. additional and patients with data data the later same we is patient the And and three time As efficacy to most industry

We XX XX updates, flexible in what portion treating each the the on and trial. Phase In on in patients we be based will interest in use when many patient best venues how we the provide of of company. X we will and patients is anticipate update included between updates remain what the provide total, to

capacity year. that support in pipeline having patients of three will patient we been patients our are growing With manufacturing and balance XXXX, confident the treating remaining dosed this

cell seeing in commitment growing the are and the has Our best-in-class we resolve and developing our patient strengthened therapies physician been to TCR-T momentum the in by interest trial.

raised to in million briefly despite gross the facing our the over Drew, conditions financial offering a position. before December, call I'll where hand years. $XX speak over proceeds the challenging In completed market the past we Now industry I five approximately we most biotech to follow-on

evaluated of the the company, continue science. all financing decision Board believes our carefully and firmly the stewards this to options to right company responsible advance As the to pioneering was allow that available

on completed XX in For over years compared only perspective, financings XXX to follow were XXXX, in the prior.

has As the products of year. to by should the accelerate one additional at us enrollment extend recognized generate quarter the close and patients runway to market our into manufacturing to clinical meaningful the enable fourth The promise this without and allowed the data to the of companies warrants, technology additional financing us of and few of science issuing was our investors. cash terms clinical

generation cell me let call responses. efforts therapies clinical where to Drew further deepen R&D Now to over to TCR-T and the discuss opportunities hand to ongoing highlight see Drew? explore next we our

in you, speed Kevin. excited share that R&D Thank I'm to ahead our pushing were efforts. today full we

platform ramp TCR Hunter increase of discovery who to our number continue We patients, from up therapy. benefit to can the cell TCR-T

from We in pipeline are are guide generating we the data the data And treated using long-term. our TCR-T that to for translational translational patients. assessments will our the our cell generation fuel foundational endeavors next

Hunter. with me Let start

of TCR Hunter We continue innovation believe that over discovery is to traditional has the and advantages edge cutting at significant strongly methods.

and emboldened mutation novel reactive have increase on owned We TCRs throughput very to successful been exclusively are in targets. focus high and identifying value

and the natural the expressing of another target. context to the mutations hundreds At proof-of-concept combinations to TCR the use of the T-cells HLAs high setting we for data infiltrating same the benefits of a conference, ability to who has SITC Our thousands the the with throughput TCRs mutation of can in proprietary evaluate are patient XXXX technology. presented supporting tumor our driver then HLA. Hunter's in We add TCR library from sourced

TCR-T targeting mutations two our HLAs. has the addition and in As TCRs fourth driver of TCRs referenced, two the new a frequent we had Kevin potential impact addressable program effectively added these for quarter, market doubling. major The on to our library

to greater example rate expansion show a than the our a pronged these a two of prime We of addition are pleased TCRs process. XX% patient now strategy. prescreening is The new library match and

in TPXX and add library, by EGFR mutations to the we one which are On HLAs to more adding to hand, GXXV. existing working we the KRAS KRAS, DRXX did

adding RXXXC. On TPXX XX within to hand, of the we And could expect our expand did that that TCRs of the grow the to time, from benefit cell we number above the library gene which TCRs. are families, over we new we TCR-T year imagine with mutations XX library patients therapy. be targeted This other our could potentially

of on advantageous we because effectively commercial a perspective, term have call durable the is believe better patient We a scale, one the of attack, deliver PCR to more uniquely we which Multiplexing. more remission targets therapeutic is Alaunos we chances long multiplexing cancer. a From situated achieving than to

more to that our We one roughly in now. than TCR library of encouraged match right our in patients one five are highly

in unique the is near term. us TCP opportunity Multiplexing a therefore for

to as we single library We we our expect patients of expand grow driver mutations. further number successes, of benefit with continue can weaponize and the believe the and TCR-T Hunter pace the matches given to cells we patients with multiple to

system believe cost that can. the us we a build TCRs Beauty enables Sleeping effectively to in of non-viral Our and library quickly company no way other

our TCR addition generation therapy trial efforts. addressable through to the translational data next library, and expanding reach of In cell help using TCR-T are TCR-T from the guide our market to our we the clinical also

for the of limiting our cells. data We maximizing driven factors will potential TCR-T address make relevant decisions to exhaustion therapeutic and

detected memory have of our including and T-cell without team We cells observed as are we exhaustion cells that memory effector to diverse we the have TCR-T blood persistence such peripheral Further, PD-X. group delighted of say cells. in subsets, stem markers a

grown driver contained the the and data cells are cells TCR-T it what HLA were making in we experience. hoping biopsies And responding targeted functional. to are therefore and our mutation, see capable of from have translational thrilled have T-cells with these appropriate biopsies the to the microenvironment to Post-treatment tumor post are retained Beauty Sleeping to treatment is mutation. This TCR-T

routinely early and strategies IP company believe that and We other leaders the upon the Advisory at platform opinion our the in Scientific June, for continue support our leading trailblazing promise and topics Board Carl develop host with chaired advisors, generate and a of by successes our key these We Dr. on translational who experts MD to our Anderson of novel being while path. assessments. consultants supported by engage build

therapy. Given we demonstration first marching are our TCR-T the mutation cell towards ever proof-of-concept, of driver commercialization of

tremendous the making turn the call to process. Abhi? been team Abhi highlight in me our to over manufacturing this let progress Now has

you, Thank Drew.

Drew progress continue we year we our are and in very the be As as excited our year to has Last a us, advance several trial. initiated making critical efforts to TCR-T library Kevin clinical program. accelerate for about we and discussed, was

highlight to major I'd like three efforts.

and cGMP indications. had TCR positivity. in three manufactured TCRs at different using manufactured successfully tumor fantastic three have purity we products to suite, characteristics, different relating three three patients' product First, viability, (ph) All

the part Our for manufacturing HLA's. irrespective library, process works of consistently mutations, in TCR our

we And manufacturing our Second, doubled to products implementing allow by platform. improve for GMP to of have manufacturing our we third, development, capacity in refining suite. process further SOPs invest simultaneous production our continue multiple that new

our I'm and collect amendment XX% their we to the IND happy enabled to reduce possibility earlier In of process move journey. we patients (ph) treatment products. flexibility new already manufacturing to This scheduling have to phrases XX cryopreserved process from fourth XX report worked an provides treatment process this the us implemented patient's now a cell us the from in further with manufacturing Cryo quarter time process that representing the decrease. cryo XXXX, greater to year. with the to manufacturing to to optimize days for fresh

it team automate time manufacture days. I'm excited system, committed close the the long fully This making then so in further drug goal to our can is the TCR good the and patient preparing is will is cryopreserve operations ready infusion. process proud our I investment technical And and manufacturing development product Phase manufacturing we decrease term process of to platform. X. for and about until the cost start universal while that our are remain XX for us reduce the and the We the a

and results now for Wong call to financial fourth would review quarter Mike the full like the year. to to Mike? I turn over the

our three the December for Thank Allow review XXXX. to ended you, XX, financials me Abhi. months

net the loss $X.XX we loss period XXXX, share For compared reported $X.XX to million a of net per same net approximately in or loss a fourth approximately share of $XX.X net a of loss per for $X.X quarter a the XXXX. or million

$X.X consulting Research related approximately $X.X fourth and lower fourth of decrease to million XXXX million the reduced of due approximately a costs for XXXX, quarter was XX%. expenses. and were expenses The primarily decrease employee development program quarter the for related compared to and of

the an for expenses. which quarter for higher legal of General the approximately $X.X approximately to XXXX, was primarily approximately and $X.X of fourth administrative increase expenses XXXX were million and due $XXX,XXX, quarter to million fourth compared of accounting

compared operating burn $XX.X million Our XX%. approximately decrease approximately cash a or fourth XXXX approximately quarter of of million the million of was fourth the to $X.X for quarter XXXX, in $X

year And now, for the I ended results will December XX, full review the XXXX.

XX, compared of impressive million the $X.XX we loss loss to For loss $XX.X a ended year the share, XX, million December XXXX, for of of year net $XX.X XX%. XXXX, ended net or share per per approximately or net loss net approximately $X.XX a an reported year-over-year reduction December

based was of Collaboration which offset that the revenue the $XXX,XXX year XXXX. in milestones primarily I'll on December XX, to ended XXXX largely development for in sales year X compared collaboration a was touch million revenue approximately and achievement research for approximately by was Japan, increase December darinaparsin time shortly. $X.X due ended of XX, the The to expense

development expenses lower related and development $XX.X decrease These and the costs employee MD year milestone was December approximately primarily time X offset for year $X.X research XX, and were XX, program darinaparsin. in decreases of to ended to million ended by a at million decrease to expenses. partially million consulting compared Research XXXX were the $XX XX%. payment The for XXXX, December related Anderson expenses reduced a approximately due and

expenses of million year year primarily were to general related million approximately a in expenses. the $XX.X and services For to lower XX%. professional general administrative December and The due the administrative and expenses was approximately XX, XXXX, XXXX, decrease employee $XX.X decrease ended for compared

Alaunos our cash balances, of for XXXX, cash approximately XX, December includes which $XX.X outstanding million of million had As as $XX in restricted approximately collateral debt. serving

the of full XX%, XX, for reduction or capital. decrease burn approximately December ended million being reflecting the to approximately impact cash a the ended focus million our was for efforts December approximately operating of compared XX, stewards good of and $XX.X Our $XX.X year XXXX year XXXX, cost on year $XX.X our million

Based on to costs for $XX cash our debt operating to be our million expect service current operating $XX we plans, excluding flows between approximately million. XXXX

programs have fund and XXXX. to sufficient research to resources cash QX operations of expect into and We development

Degrees, the some And the corporate further to to the we growing our of I in media, driver public highlight mutations. the want and presence as Alaunos on side targeting momentum. our established in recently and relations biotech we profile firm we further look this to solidify serving build work is raise the are doing leader upon specializing among industry industry. and X engaged TCR-T an

the Our tumor innovative on TCR relationships technology cutting and audiences. we program with solid in edge of exciting engaging forward to and and clinical with research look building and the media remain space

engaged Degrees, cultivate we investor resources to existing addition X In recently to develop relationships. investor additional new and relations

for to like turn call closing I to would remarks. Kevin now the

Thank you, Mike.

are this using to As research being the manufacturing committed and to laid transition treated dedicated recent are will TCR-T cryopreservation, we disruptive Through to we enhance and patient look treatment objective. we to solid and ahead, IND year amendment, teams clinical, the technology the trial. are revolutionizing X/X tumors our for groundwork flexibility our Phase throughput we added our additional in where TCRs library and we greatly have how

become TCR-T the Phase confident remain of library our expect we positive greater year. the physicians by the will additional patients X we built end and patients momentum share of and among Phase balance lead accomplishments ready of data have in remaining as portion the to patient to We treat even the trial, X

IND. we XXXX, in Phase stage existing of X beyond being the our Looking envision

X cancer with multiple TCRs independent types. Often enables certain us specific simultaneously. specific IND conduct be Phase may trials indication Our associated times, to

lung non-small instance, and KRAS cell has EGFR mutations. cancer commonly For

cancer to patients lung enroll expect TCRs. So these predominantly with we may

which is the trials be solid a to with on X KRAS second hand initiate Phase expect mutations, and we other cancer associated Colon trial. TPXX time, across could X indications. tumor Over several Phase multiple

the knowledge, tumors. only As targeting has we range TCR solid we approach, across mutations To a of our library are against tumor this therapy utilizing a TCR-T driver our cell type believe of applicability taking types. broad company unique solid

Alaunos, we actively cell approaches next therapies. multiplexed through which long As are potential potential hold cell responses to a the deepen term and combination generation from continue developing build therapies clinical we TCR-T of to treatments, TCR-T

translational of approaches. to are patients these We conduct next-gen to working treated assessments guide

IL-XX the that number near-term, therapy towards is we year. benefit this addressable the market of submitting cell TCRs, firing expanding cell anticipate with TCR discovery proprietary later remain the multiplex on the membrane-bound Hunter is we an all our increased patients cylinders. might optimistic our from TCR-T therapies. single In or very advancing By which and TCR-T library program which platform, IND, We about our

astonishing Alaunos and an early forward the truly future what and of to pipeline bolstered In therapies. for be want capable their I our look with lives to express with deepest XXXX prove gratitude improve employees we by the mission of platform our what sum, for progress filled as It and will support we holds to continue this shareholders patients, my promise as is encouraging patients year results, and clinical exciting of to our for we tumors. to believe advance innovative is Hunter. solid I the TCR

questions. call We open the now will to Michelle?

from Agrawal Instructions] question Thank line of Our Prakhar with Cantor. [Operator comes you. first the

Your line go is Please ahead. open.

taking XQ. congrats and Thanks on Hi. questions for my

in team, dose QX first been have and in patient question, company. there additional enrollment for the my key given as a Kevin number So patients progress three focus

FDA And I no and had And appreciate that specific IND approvals So green just to are the required? couple the you the a color ups. have to on the here. confirm any there follow from enhancements of light regulatory further

excited very the that being Good our morning. response. and the stemming about patient made we from objective is interest hear trial first to are from in you. we this said, With to as regards good clinical Prakhar, enrollment, progress

quite that. but look venue the grown to on going out of has by patient that three patients. first report the on data we're confident data and treated interest the that to basis, and patient going further of updates seen for not a on we've number the the we're to provide are We patients with right and the excitement far feeling based thus But the response around associated

the regards IND to and two the with relationship And quarter trial questions in there outstanding enrollment, no our to facilitate is unique had and made the IND, the very additional comments. minimal multiple are the enhancements certain we amendments have design agency which IND and amendment from where shown clinical that design the really the accelerate with we further TCRs with in fourth the trial added fact

So this one is a we a very is differentiator a positive way in excited company unique for mutations benefiting that sure, and trial about these driver design patients. quite cancer for believe this

it. second who for in for matching release comments Got TCR TCR. press for and are the the than opportunity multiplex the question, Thank the you. patients And was noted more one

this you trial? be So expand on scientific maybe will could Will how TCR? multiplex you -- in can if a a you. it be separate Thank IND? And the for implemented this be on if expand the rationale can

Absolutely. Drew I'll on that. let comment

Prakhar, the more Thank you multiplexing’s prescreening roughly excited for that in have of for one very the about our than we're see But that TCRs, excited We're one on of question. the our one out Yeah. match. of process morning. to five matched potential good for patients now. its TBD

we So a Sleeping to Beauty deliver that unique think TCR. for something more our system, do through We this we position have than that's think one us. non-viral that is feasible

going than rationale, than the about back to the more affect more point time just one has chance And given to at cancer. then a one target to your

to that the -- bringing half this the amendment, IND maybe we're an excited that. multiplexing to in potentially looking in forward even we're in adding So for of And our long-term. second as year IL-XX about

you. Thank it. Got

one our you. moment And question. next Thank for

from question with Yale the next Jen Our line Laidlaw. comes of

line open. go is Your Please ahead.

has that whether follow-up functional thanks -- terms you is morning, as Could those questions. for and well? taking are My that Good in of elaborate or in characterized of the a aspects I terms you first more TCR characteristics. question sales have and then the certain

what specifically Good we're question. question. that team are in are exhaustion. morning, that We're the Thanks translational regards for Yeah. to very treated our of assessments. a patients cells seeing It's in excited showing And in the memory the cells. limited persisting then stem about have seeing Yale. blood We're great been the

T-cells tumor we've are had the the mutation from tumor subtills within that then those the TCRT happened cells driver tumor and biopsies have grown and treatment, we've seen by have those mutation. post DHLA indeed retention functional that And of against the and

They look and that have encouraged our functional exhaustion. they to look really there. So limited cells to are be getting

Okay. so, little business about very giving bit helpful. you a patients follow-up that more could progress a characterize assets if that any development retain Maybe of house? to is define Great. or good thinking would start you guys which goes those And the you into and more potential opportunities? here, Are in will portion (ph). still guys a That's things be how

folks in platform Yale. active the all Sure, of discussions also Hunter has Like TCR-T interest by generated platform. other with potential very partners discussion the biotechs, We're very that with always our our we're potential motivated opportunities. development we're about targeting excited driver and business and within mutation

believe with very novel that to library very identify TPXXand put IP, novel own position TCR throughput interesting has we bolster of Drew through patent targets EGFR cell a -- proprietary both because so high of this quite really single sequencing is develop that strong We can and KRAS, mutations. mentioned, our

same Hunter the identifying at But to would and potential that other interest novel identifies the partners. of capability targets has of time, be

here others well. strongly special very believe and potential I as So we something have opportunity that really see and that

That's very, squeezing one Great. Okay. just Maybe very more. helpful.

you currently what's would managing level a that How of -- in thought assume your You have and thanks. debt. certain

for Thanks question. the

in of XX we have repayments outstanding approximately of repaid by started August expect and this debt September that fully XX of to was As year. year-end, million. We our principal $XX.X balance

appreciate lot. Thanks it. a Okay. really Great. I

next And Thank our one you. question. for moment

Street. the next from with Thomas Flaten line comes Lake Our of question

is line Your Please open. ahead. go

there? more other from number? was Phase you All things you wondering little right. looking we aside X for patient Good I on bit ready the morning. as Kevin, expand should Any Thanks questions. if be a qualifies the for what could taking

Phase Thomas, accomplish we It's dose good and it's what we the it's X dose. tolerated the towards morning. maximum want identifying also When foremost, identifying recommended a look then first in X, to and safety. Phase about

be nice items allows look we objectives. that's patient really maximum those And this all what's us to to X this design why required three safety, dose. is Phase a So accelerate the that that objective low are in dose, achieve Phase these to tolerated is going patient relatively recommended for, achieving and number is X

you first one were may as safety So recall, to patient favorable to because level. the that Thomas, seen, second we accelerate at only dose of profile had dose to we've and able level the dose we the that

So excited. we're very

safety level have you higher a because favorable. profile should also We the of may recall rather be dose

targets appear we're the targets. driver some definition other on and these that healthy different cancer by going targeting like not core the heart the are at competitors of The mutations tissue cells of after do are our of TCR

only the target superior believe in TCRs driver mutation believe of to after these use that lead we we And the in a therefore that will our with can higher are and doses going have we cells our targets we So greater efficacy. cancer.

hit appreciate I that few does XX to you target XX, goal? during with achievable that that, stable order And be the to or XX of we imply would assume that of that color. can more the great. enrollment So a current TCR? to you're add the going enrollment have year that in the That's the

additional of building are Any multiplexing. we're we the that pipeline. just I TCRs our of goal with the patients seeing in very feel you, future, tell building our confident towards number towards

Phase we as at what of we So we're right reminder, a PIs a with But very our of be manner. now right required our to we expeditious treating away. successful will see do X a that very add number the use we the we'll absolutely start can in in TCR with with so anytime treating it confident patients And engagement Anderson MD patients.

same and able have own manufacture patient's our with the at to earlier multiple well time as own able on we able products our what's start being that, nice is manufacturing manufacturing the cryopreservation, we're with to journey. in with employees being execute now the And capacity Thomas, to this

waiting products. if manufacture a can when treatment in be for a It can fails freezer we unfortunately, So patient. the

We when can in product then made that then they're take ready. and early that patient we fuse XXXX that

a very going that the important that and fit So we're then taking fails be can cells if for failure it's manufacture with journey. really them. cells therapy enhancement in earlier product, end We unfortunately to current when cryopreserved made. patient's by the believe we if -- that their up the more ready We [indiscernible] their patient

could that down? what's and see that I might to whittle was required days. goal comment And timing final that the that you XX Abhi just manufacturing hit off one, timeframe to over believe a manufacturing. wondering if of of what segue I Excellent. goal one XX just during timeline then we on just from kind expect call to said to you the was guys reduce the

and why Sure. three aspects, kind you of addition do the And today? on in to Abhi, reducing aspects some Abhi But Thomas don't working costs. ahead of to talk hit within I the we're think that go

Yeah, Tom.

manufacturing are time. really our down manufacturing we in multi-pronged investing strategy cut to So

investing very are to manufacturing constantly system, to confident as the development, are we we'll providing the the that XX the reach reduce so, we automation And platform, We doing closing the in our manufacturing space. be days process able commercialization time in to by

go ahead. Speakers] Sorry, sorry, [Multiple

overall that of highlight call -- and of has overall manufacture much to by of quality the utilizing provided able I'll efficacy better what wanted flexibility the bucket. product the just how power cryopreservation will (ph) that the to cryopreservation be And us

you when a Thomas, to just ready I immediately. fresh cryopreservation think cells highlight important be to that infused had here patient the is that of things does, one was

able Now patient's the days, of XX time portion journey right? in manufacture days whether in not mattered, quite the Phase where with of really still XX the it's to it's be earlier that cryopreservation, timing ready ahead yet. So the or trial fact they're this cells the to X we're infused

time relevant this is less stage. the So at

very to we be because said, now, be But important. will Abhi patient it and is So commercial, the right will the is taking time, the cells we be be hit less when able be by down will cells to the manufacturing reduced. ready. immediately as have timeframe when relevant the of the available frozen time as That

Thank it. Appreciate you Excellent. guys.

Thank you, Thomas.

Thank question-and-answer you does you. call. gentlemen, And this conclude does today's conclude also for Thank conference session. and today's this participating. Ladies

You day. have a may Everyone disconnect. great now